Investigation finds many auto buyers are massively overpaying
Anyone who’s ever purchased a new or used car through an automotive dealership knows that while searching for cars and finding the one perfect for you is typically fun, most people dread the finance office. The finance office is where you’re often pressured to add on all sorts of ancillary warranties and services that can run the price per month for your new ride up significantly. However, a lot of people don’t know that the finance office is where you could also pay significantly more interest on your new purchase than your credit score and history qualify you for.
Anyone who’s sold cars may be familiar with the tactic that happens in the finance office called “holding points.” Holding points occurs when someone comes in with a credit score that qualifies them for a 1.9 percent interest rate, for example. However, many dealerships and banks allow the finance office to
