News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
view the rest of the comments
It usually doesn’t work quite like the example above. Using that example…the dealership will only give you $4k for your old car, even though it’s worth $10k. They then turn around and sell it for anywhere from $8-12k, netting themselves a tidy profit on the vehicle now for the second time.
The convenience makes this worthwhile for most car buyers, even if they could get another few thousand if they did everything themselves and paid full taxes. Dealership of course loves it and laughs all the way to the bank.
Or they give you more on the trade-in and claw it back by offering you shit terms from their captive finance company.
Some carmakers don't make a profit manufacturing and selling cars, they only make it on finance.
Interesting, wonder how the economics work for the different players. Also, tangentially:
A decade or two ago, a lady working in dealer finance lamented how internet bank rate comparisons had really rained on their parade
“I want this rate”, she explained customers would say, pointing at a printout or their phone and expecting a match.
Imagine how fat those margins would’ve been when they knew a customer hadn’t yet called around researching rates!
Good point, this is fairly common as well. I’d recommend avoiding financing entirely if at all possible because of this, simply not worth it for a car unless it’s the only way you can get one that’s in decent shape.
If you have to finance, often times you can get a much better rate from your local credit union instead. Use that to make the purchase, instead of the dealer’s financier.
It’s what Game Stop (and a myriad of other “buy, sell, trade” stores) does with used games and consoles but with cars. eBay exists but most people don’t want to go to that much trouble.