QuestionHello Bud ! I have a question concerning dealership advertising for aquisition sales.
Pay $99 aquisition fee and take over payments posted on window sticker.
Is this a good way to purchase or is there a catch involved. Also, I have a trade that has a pay off of 11,500.How will this effect the take over payment amount without changing it.
Thanks for being a volunteer and for taking the time to answer my questions.
AnswerHi Ron, that is several questions but all of them are good ones. Is this a good way? Probably not, but some dealers do this when they have too much inventory. Lots of things to look out for, what is interest rate, what are fees, how many payments, what is price of vehicle? See what I mean. As to your trade with a payoff of 11,500 and how does it effect the payment? What is the trade worth? If it is worth exactly 11,500 it is a wash and it will not effect the payment. If you owe more than it is worth you will have to either come up with the difference in cash or add the balance into the amount financed. My Advice?
1. Pick the exact vehicle you want at a place you trust.
2. Negotiate a fair price for you and the seller.
3. Get the value, ACV, of your trade.
4. Find out what kind of finance plans the dealer has. If you are looking at a new vehicle or a certified used vehicle the factory will often subvent(reduce) the interest
rate to help the dealer.
5. Do Not get Emotional, be prepared, go to www.edmunds.com for both price and trade information plus rebates and interest specials. Remember, the dealer needs you, not the other way around. If you have problems or have further specific problems, let me know. Best of Luck, Bud
