The term “Bump” is often searched by individuals entering the car buying process. In dealership lingo, a “bump” refers to the practice of increasing a customer’s offer during negotiations. It’s a common tactic used by salespeople to gently push buyers …
“Upside Down” is a term frequently Googled by car buyers and owners, referring to the situation where a person owes more on their car loan than the vehicle is worth. This is also known as having negative equity. It’s a …
Navigating a car dealership can be daunting, especially when faced with complex negotiation tactics like the “Four Square” method. This term, often searched by savvy car buyers, refers to a traditional sales technique used by dealers to simplify the negotiation …
Car auctions play a pivotal role in shaping the used car market. These auctions, where registered car dealers buy and sell vehicles, significantly influence the availability and pricing of used cars. The largest of these auctions, like Manheim, see a …
The ‘Annual Percentage Rate’ (APR) is a fundamental concept in car financing. It represents the yearly interest rate charged on a loan, encompassing not just the interest but also any other fees charged by the lender. APR provides a comprehensive …
Key Takeaways: Introduction: Uncover the hidden costs of car buying with a look into dealer prep fees for used cars, a negotiable factor in your final deal. What is a dealer prep fee for a used car and can it …
When you’re in the market for a leased vehicle, you’ll inevitably come across the term ‘Acquisition Fee.’ This fee, often referred to as a bank fee, is an upfront cost charged by the leasing company to initiate your lease agreement. …
The ‘Annual Percentage Rate’ or APR is a crucial term in car financing. It represents the yearly interest rate on your loan. Understanding APR helps you grasp the cost of borrowing and compare different loan offers effectively.
Beware of ‘Additional Dealer Markup’ when buying a car. This is a strategy dealerships use to increase the price of in-demand vehicles. It’s listed on an addendum sticker alongside the Monroney sticker and reflects dealer-installed items and price adjustments. Stay …
Key Takeaways: Introduction: Navigate the leasing landscape with a deeper understanding of the acquisition fee, a key factor in the economics of car leasing. What is an acquisition fee in car leasing? An acquisition fee in car leasing is a …