Paid In Full?

Question

I've seen auto dealerships advertise to pay off your auto loan in full with the purchase of a new vehicle. True or False?

Answer 1

Auto finance is what I do for a living and that is a true statement as a matter of fact we have to by law.

Now for the rest of the story, say you have a used car that you owe $13,000.00 on and the dealer thinks it's worth $9,000.00 in real money.

All they will do is mark the sales price of the vehicle you are looking at up by $4,000.00.

Over 90% of customers are payment buyers, if they can afford the monthly payments the price is not important so this works most of the time.

Answer 2

Sort of true. But if the loan is more than your trade in, then you'll end up paying more for the car than you otherwise would - you won't be able to get as big of a discount from list price.

Answer 3

guees u need a father to answer that for u. and stop bitchin about it