Quote:
Originally Posted by pantdino
D
But I have heard that dealerships actually make more profit on used cars than new ones and this probably explains why-- they get them so cheap because people are desperate to sell or just get tired of tire-kickers.
|
That's where the vast majority of their profits come from. They're lucky to make 7-10% of sale price on new cars. They can make 15-30% on newer used cars. That doesn't include the kickbacks for loans, the money from shady extended warranty companies, and the "transaction fees" that are outrageous. The worst lot is the "bad credit" dealers that get people into 7 year loans for 24% interest, those dudes are making some serious dough off the poorest people in this country.....