Shopping For A Car? Don?t Get Taken For A Ride!
Imagine this ... You're ready to buy a new car.
You've done your research on the web at a site like Edmunds.com so you know what the dealer has paid for the model you want.
Based on your information you've established your comfort zone for price haggling.
You walk into the dealership, meet with a salesperson, and begin negotiations.
At the end of your test drive and haggling, you're confident that you've made the best deal possible.
No way you're getting ripped off because this time you are an "informed consumer" unlike when you bought your last vehicle.One final step stands between you and your brand new "ride" - financing.
Your credit is outstanding so you get what you believe is the lowest possible interest rate from the dealership. You drive away in your shiny new vehicle triumphant!Ready for a dose of reality?
According to a new study, there's a 1 in 4 chance that you've been "taken for a ride" by the dealer's finance department, especially if you are female or a minority, by as much as an extra $1,000.The Consumer Federation of America, a Washington, D.C.,-based consumer interest group, said consumers often pay additional fees in that process - totaling as much as $1 billion nationwide - without realizing they qualified for cheaper financing. Here's what can happen behind the scenes: a bank approves an interest rate, the dealer tacks on additional percentage points as a kind of service fee and then the dealer and lender split the difference.To be fair, not every dealer is guilty of this markup.
However, enough are involved that many states are now considering new "truth in advertising" lending laws.
New laws would require auto dealers to inform customers of the original rate offered by the bank and what the dealer is offering to the customer, after tacking on their additional finance fee.Shopping around with your bank, credit union or the internet can help you to find the interest rate that you qualify for in a loan.
Remember, the auto dealer is in business to sell cars, not to offer loans.
The next time you're in the market for a car, don't just research the model, make, and add-ons.
Research fair interest rates as well so that you'll know if you're getting the best rate possible from the auto dealer or
if you're being "taken for a ride.".
www.yourfreecreditreportnow.comJames H. Dimmitt is editor of "TO YOUR CREDIT", a weekly free newsletter.
Subscribe to the newsletter by visiting http://www.yourfreecreditreportnow.com. He is also author of ?Identity Theft - How to Avoid Becoming the Next Victim!? available at http://tinyurl.com/bc45jimdim815@aol.com
New Campus Watchdog Group Launches Today - Creates Student Media Network and Provides Support Services for Campus Activists
An innovative campus watchdog group has been launched today (www.oncampus.therealitycheck.org) which seeks to foster greater transparency on college and University campuses on issues relating to academic freedom, bias and intellectual diversity.The Reality Check "On Campus" is an independent new initiative developed by TheRealityCheck.org, Inc. (www.therealitycheck.org).
The primary purpose of this group is to support and develop its growing network of on-site Campus Journalists, student activists and student groups nationally.
Newsworthy issues and alerts originated by this network will be regularly published to an extensive national media audience.
Campus Journalists have already been assigned to a number of colleges and universities throughout the country and the list continues to grow.Campus Journalists, groups and participating...
Student loans > New Campus Watchdog Group Launches Today - Creates Student Media Network and Provides Support Services for Campus Activists
Take Hassle Free Finance Through Woman Business Loans
One development of economies expanding world over is that it has created a larger enough space for women entrepreneurs' participation in various businesses. Now they contribute significantly towards strengthening of economies. This in turn has compelled financial institutions to take women seriously when they ask for a loan and women are taken as big potential for generating loan business. Woman business loans are gaining popularity amongst business women now for easy accessibility of the loan and lower interest rate. Women entrepreneurs are making use of woman business loans in numerous purposes like starting a new business project, paying back to creditors, buying a business and so on.
Both small and larger scale business women entrepreneurs are equally eligible for taking woman business loans.
Many financial institutions including small banks have mushroomed up in the business of giving the loan. Popularity and demand of woman business loan can be judged from...
Take Hassle Free Finance Through Woman Business Loans
Student loans > Take Hassle Free Finance Through Woman Business Loans
Shopping For A Car? Don?t Get Taken For A Ride! Student loans
The Benefits of Wicker Picnic Baskets
Wicker picnic baskets are a lovely, traditional way to pack a breakfast, lunch, dinner, or just a well-earned snack. You can take it with you anywhere -- to your backyard garden, your neighborhood park, or as a special luxury treat, on a camping trip. They make for a great gift for a friend, family member, loved one, or new neighbor.
Wicker is a type of natural straw popularly used to make not only picnic baskets but chairs, tables, folding walls, and more. Wicker is made out of...
Student loans > The Benefits of Wicker Picnic Baskets
Shopping For A Car? Don?t Get Taken For A Ride! health insurance
Shopping For A Car? Don?t Get Taken For A Ride!
Shopping For A Car? Don?t Get Taken For A Ride! Student loans