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.
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.