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Purchased my first car today

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10-23-2008 , 07:09 PM

#26

rivermetimbers

adept

Join Date: Jul 2007 Posts: 1,134

Quote:

Originally Posted by RickAstleyFan

Brag: Squeezed the dealer dry (paid $1400 under his cost... he showed me actual cost)

Um.... Sure.... Hate to break this to you, and I'm sure you got a heck of a deal, but this i most likely not true. Having sold cars for years, a lot of times we would "show" someone OUR actual cost, but it was usually something we made on paper, or on our computer screen.

Let's say a car is worth 10,000. Actual hard cash number, 10K.

The customer owes 14,000 for it on his bank loan but when you trade in a car you can't carry over negative equity on paper, so the buyer gets us to pay the 14,001, in trade off, in exchange for that, we charge FULL book for the car they are buying, even though we would have sold it for 5-6 thousand less than retail. its a 5speed, as the 6speed only comes in the v6 (which does come in the coupe, but is bad for me as i drive 90 miles a day and gas still isnt cheap)

So on paper we own the car for 14K, but really, we only paid 10K for it.

Does that make sense?

yes, you may be 100% correct, but I still only paid 17k for a car valued by KBB (fwiw) at over 20k... as for pics, I will post some on Saturday