Tuesday, November 02, 2010
Went to look at a certified pre-owned minivan today...
That's it above. Before I got there, I was wondering about the line - *Must finance with dealer*.
Did it mean that IF you finance the car you have to go through them?
Or, that EVERY BUYER was required to finance the car (through them)?
Because the C-Nut family is a debt-free entity....we pay cash.
Guess what, the latter was the case. The low price was contingent on financing. The salesman told us that we'd have to pay MORE ("a few more points"???) if we paid cash.
So they essentially force people into car loan debt. The prices are thus higher because buyers are conditioned to look at *monthly payments* rather than total cost. It's a vicious self-perpetuating cycle.
Yet this is the tragic state of our economy - where one can't buy a house without entering into a minimum of 30 years of debt slavery (again, because rampant borrowing has nuked prices into the stratosphere), where a corporation can't compete unless it leverages long-term debt, and where one can't go to college without signing on for a mountain of debt and having their parents forfeit their home equity.