Quote (CarsAndKush @ Apr 6 2014 05:40pm)
Total $ paid + fees + interest > cash now
And they know that.
/e If you're that worried about the second part, just get a damn honda.
They might be able to do that with an uneducated average credit buyer, but for instance my cs is 761 with a perfect record. They can't make anything on interest if they do for example finance through themselves, and they can't really add interest points when i record is that good. For example when I got my interest rate it was 0.9 apr. The only money the dealer would really make is the fees and the profit on the car itself.
In this case they would get the same amount of money regardless but go through less hassle, where in turn cash now > interest. (Financing and all that can take up to 2-3 hours to finalize and everything)
That idea is going off of a person with ok-average credit, where they can play with the interest.
Matter of fact, there has been laws passed with this type of ordeal because of dealers taking advantage of buyers. They have to disclose the actual credit score results and get you to sign papers before you buy. (In the tri-state area anyway)
What I was going off of was for myself personally.