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The advantage to the dealership of having an RFC finance was decreased risk on the sale and finance of the vehicles sold. Since both the RFC and the dealership had the same ownership, the owners could benefit from the profit on the sale of the vehicle and the profit on the loan for the vehicle. Historically, the down payment required on a BHPH ...
Dealers regularly try to attract customers with special discounts and credits, which are known in the industry as “incentives” like “no money down,” 0% financing, cash-back rebates and ...
These 10 mattresses are on sale for Cyber Monday — but they'll end at midnight AOL These are the best Cyber Monday deals under $100: Walmart, Amazon, Target, Best Buy, and more
Floor planning is commonly used in new and used car dealerships. [2] Contrary to common perceptions, most car dealers do not pay cash for the vehicles on their lot. [3] Even smaller dealerships can have an inventory of vehicles representing millions of dollars of capital investment.
The thief behind this scam had allegedly tricked at least 19 people out of $17,600 total across the state by requesting victims to pay for “insurance” through Cash App and pocketing the cash.
The dealer has the option of marking up the interest rate of the contract and retaining a portion of that markup. For example, a bank may give a wholesale money rate of 6.75% and the dealer may give the consumer an interest rate of 7.75%. The bank would then pay the dealer the difference or a portion thereof.
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