Tuesday, November 18, 2008

Car Dealings...

We have a couple of local car dealers whose business practices make me wonder.

One dealer buys cars from auction, rental returns or repos, details them, throws $4000 worth of chrome rims and tires on them, and sells them for twice what they're worth.

This place actually offers 15 year car loans. FIFTEEN YEARS! That's some responsible lending there.

The other dealer has scrawled in yellow grease pencil across the windshields of all of the cars on the lot


And folks wonder why we have so many people in this area with cars registered to them, but no driver's license.

So, yes, you too can own a vehicle that costs more than your house!

Even if you don't have a license...


Edwin said...

That's Awesome!

Reminds me of the Wheel Rental ads I hear on the radio... wtf? One does not "rent" wheels.

One of my wives worked for a jewelry chain once -- and their scam was to mark up all product by 4x (which is pretty standard actually; you want jewelry? Buy parts from the manufacturers and assemble your own, save a fortune) and then offer credit to _anyone_ with 25% down.

The down payment paid for the product. Anything else was profit!

Me said...

We got dealerships here that rarely if ever sold a car but registered thousands of temp tags for alleged "auto sales" with the DMV before they were finally caught.

They did it for years because it was easier to sell temp tags to people who owned junker cars but couldn't or didn't want to insure and register them.

And then all the huks and thugs complain when you stop them just because their car has a temp tag and you find out that they aren't licensed/have warrants and the car is unregistered/stolen.