David Lindon
Golden Master
- Messages
- 15,233
Dealer paid $1,000 for unit 7 months ago sold said unit within that week.
Lady with bad credit comes in, agrees to a price of $3,500
She puts down $1,000 (covered the cost of the car) had 24 payments of $150 each she paid for 7 months car got repoed
She paid 2,050 dealer grossed $1,050 on the sale. In addition they sold the repo to a collection agency.
She went back to the SAME DEALER THAT JUST REPO HER CAR
And bought another one this time she said she was smarter and bought a older used car then the first one and paid $2,500
Dealership paid $600 for the unit she put down $500 at payments of $100 for 24 months.
She also suspects she'll loose her job in a few months.
O yea the dealership will be taking her car THEY REPOED and reselling it for additional profit. Keep in mind at the moment this car owns them nothing...They already have a ROI on it. The next person that buys it will be pure profit.
This is how stealerships work.
Maybe she should have stuck to her budget and bought something cheaper that $3.5K