I’ve only bought two new cars but don’t consider the depreciation a scam, it’s something everyone knows is going to happen going into it so although I feel I made a bad choice doing it, I don’t blame the dealership. The high-pressure bullshit is also to be expected, sadly.
Used, OTOH, is an absolute scam. On trade-in, they make number adjustments to get the used car basically free and on the sale-end, they dress it up, tell the buyer that it’s been through a 5,000 point quality check and sell you whatever got bought at auction or traded in. They get even scammier if you finance through them. I’ve seen 16% interest rate for a buyer with an 800+ credit score.
New car it used car?
I’ve only bought two new cars but don’t consider the depreciation a scam, it’s something everyone knows is going to happen going into it so although I feel I made a bad choice doing it, I don’t blame the dealership. The high-pressure bullshit is also to be expected, sadly.
Used, OTOH, is an absolute scam. On trade-in, they make number adjustments to get the used car basically free and on the sale-end, they dress it up, tell the buyer that it’s been through a 5,000 point quality check and sell you whatever got bought at auction or traded in. They get even scammier if you finance through them. I’ve seen 16% interest rate for a buyer with an 800+ credit score.
The whole thing is predatory in nature.