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Old 08-02-2010, 11:01 AM   #1
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Default Dumb people

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.
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Old 08-02-2010, 01:02 PM   #2
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Default Re: Dumb people

Yep, its a true story but we live in a country were there isn't ample public transpertaion so people are forced to buy cars to get to work for the most part. And the only place that will give them a car is a loan sharking car lot. So basically they make a living off of people that can bearly make a leaving their selves.
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Old 08-02-2010, 03:41 PM   #3
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Default Re: Dumb people

welcome to capitalist society, please enjoy your stay
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Old 08-03-2010, 05:57 AM   #4
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Default Re: Dumb people

Ouch; why go back to the same dealership...

In my opinion, its always best to get a car from someone your family or you know.

I've just bought myself a Nissan Micra Tempest 2002 model, that one owner has had for 8 years, yet, has only done 8,000 miles in it, for £1200, so if I pass my test on Friday; that is mine to drive straight away (well once I sort out insurance)

For a first car at least; you don't want anything too amazing. Don't want to be trying to pick up a BMW or something
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Old 08-03-2010, 06:32 AM   #5
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Default Re: Dumb people

Quote:
£1200
Serious? Cars must be dam cheap in the UK!
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Old 08-03-2010, 06:44 AM   #6
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Default Re: Dumb people

There's bargins to be had here.

Mint twin turbo MkIIII Supra's £3000-£4000, low mileage Soarer's a little bit less.

The big engine cars are the bargains here; they're too costly to run. I'm hoping for a Lexus GS300 Sport next time.

Four years ago I got a car on finance. The car at the time was worth about £3500 had it been in great condition and I would've had to pay back a total of nearly £8000. I got bored with the car after 6 months and gave it back.

Despite a signed agreement I didn't have to pay a single penny more.

Since then I have brought my cars with cash.
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Old 08-03-2010, 06:59 AM   #7
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Default Re: Dumb people

some cars are cheap.


I paid £350 ($550) for a 15 year old car three and a half years ago. (peugeot 205)
all it's needed in that time has been some new suspension bushes and a new ball joint.
(anything else I've had to buy for the car has been either my own fault) -new lights where I crashed and broke the old ones.

or wear and tear -new brake pads, new rotors, and new tyres but rotors are £10 ($15) each, brake pads are £10 ($15) for a set (both sides at the front) and tyres are £25 (~$40) each.

I've also replaced the brake lines they were about £5 each (for the flexible rubber hoses). -they are wear and tear items too...


there are bargains to be had wherever you look. provided that you're either not too picky, or prepared to put in a little work.


big engine cars are a bargain because of the road tax that we pay each year.
on older (or low production) cars there are two tax bands based on engine size, anything less that 1.5ltr is about £120 a year, anything over that is £205 a year.

cars that are less than 10 years old are taxed based on factory emissions, so a new Ford fiesta 1.4 diesel costs something silly like £35 a year to tax, whilst a 3ltr landrover or a BMW 7 series costs £440 a year to tax... (I imagine the supra might fall into that category too).

it really is a bit of a carrot and stick approach, people have the carrot -low cost, incentive to get smaller low emissions cars. whilst those who like driving and like driving a bigger engine car are beaten with a really big £440 stick...
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Old 08-03-2010, 03:01 PM   #8
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Default Re: Dumb people

Neodude112320, just a really good deal in my opinion The dealership would have probably sold it for up to 3 grand

Some of me was thinking of getting a cheaper car that I would have liked better as in the looks, etc that was maybe older, and had done more miles, but I was thinking more about reliability, and it lasting me & as long as I look after it, it should be worth quite a bit after a while too.

Root, not bad then really
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Old 08-03-2010, 09:58 PM   #9
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Default Re: Dumb people

I Guess the Tax ruins it! What are petrol prices like in the UK?
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Old 08-04-2010, 07:27 AM   #10
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Default Re: Dumb people

In my area it's 115.9p for unleaded and 123.2 for super at the moment.

The petrol price I can deal with but the tax is ridiculous considering that the roads here are really bad.
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