Do dealers make money on 0% interest financing (0% 48 month loan manufacturer financing offer).
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JoAsksandAnswers
ANSWERS: 4
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ya, a sale, my uncle is a general sales manager at a dealership. lets say for instance they get a car from the manufacture at 10,000 dollars, they will sell that car for 14,000 depending on what they feel is fair, it is to make profit. by offering no financing, they can sell the car quicker where as if they have a high interest rate, the car might stay on the dealership and would be dropped to maybe 12,000 to make room for the newer models.
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They sure do. And lots of it. First off they mark the car way up. And then the day before the sale they raise the price again to cover their loss on the 0% deal. Also that 0% is only if you qualify which most of us won't even with good credit. And what people don't realize is on those loans there are closing costs. Nice big closing costs. And if you don't pay it off before the loan ends you owe all of that interest there would have been. It's a scam.
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Yes, Read this article http://www.adviceontime.com/0%25/zeropercentfinance.htm
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there is always a catch they are making money on selling the goods
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