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Old 07-10-2012, 07:41 PM
 
3,188 posts, read 1,112,285 times
Reputation: 1818
Talking whats up with the 88 bucks down and 88 a month for a new car

I saw a tv add that said you could get a new car for 88 dollars down and 88 dollars a month. I know its a scam but couldn't read the small print..Anyone know more about this con. Im curious.thanks
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Old 07-10-2012, 07:48 PM
 
Location: Columbus, Ohio
1,379 posts, read 1,642,344 times
Reputation: 1329
Helps if you mention dealer or at least city/state.
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Old 07-10-2012, 07:49 PM
 
Location: Floribama
8,555 posts, read 14,819,764 times
Reputation: 4921
Maybe if it's a Kia financed for 10 years.
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Old 07-10-2012, 08:27 PM
 
Location: Galloway, NJ
1,692 posts, read 1,900,585 times
Reputation: 1343
Quote:
Originally Posted by crestliner View Post
new car for 88 dollars down and 88 dollars a month.
Try Frequently Asked Questions | Crazy 88 | 88 Dollars Down! 88 Dollars a Month! It's TRUE, 88 dollars down and 88 dollars a month!

(Fine print $88 a month for up to 3 months subject to dealer discretion.) I'm sure the interest rate is very unfavorable, suck you in with the $88 a month line, then hit you up with the over priced car at a lousy interest rate. Then the Real payments begin.

Enjoy the car. You'll be paying for it the rest of your life. You can will it and the debt to your children and grand children.
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Old 07-10-2012, 10:08 PM
 
Location: Out there somewhere...
26,625 posts, read 18,617,030 times
Reputation: 72682
It means $88.00 down and $88.00 payments until the end of the contract period, then one gigantic balloon payment. Read the fine print.
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Old 07-11-2012, 12:03 AM
 
3,188 posts, read 1,112,285 times
Reputation: 1818
Quote:
Originally Posted by nitram View Post
It means $88.00 down and $88.00 payments until the end of the contract period, then one gigantic balloon payment. Read the fine print.
I couldnt read the fine print but I think you nailed the answer for me. People with bad credit or who dont care if they ruin their credit might not want to make that last payment. I guess they most likely have to put up their home or GOLD as security.Scaammmmmmmmmmm!
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Old 07-11-2012, 04:42 AM
 
Location: The Shire !
369 posts, read 486,146 times
Reputation: 507
I used to sell cars. We had a saying; "The lower the price in the ad, the lower the IQ of the buyer.".


Got it ?
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Old 07-11-2012, 05:21 AM
 
19,372 posts, read 13,792,407 times
Reputation: 13131
Usually reading the newspaper i see car ads with ridiculously low monthly payments , a closer look reveals its not a monthly payment at all its a weekly payment.The problem with dealers and payment plans is the extra amount of money you end up paying for the car through interest and extra charges.
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Old 07-11-2012, 05:53 AM
 
Location: North Baltimore ----> Seattle
6,476 posts, read 5,339,789 times
Reputation: 2938
I can't believe this type of advertising/financing is still legal.
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Old 07-11-2012, 06:07 AM
 
Location: Keosauqua, Iowa
5,402 posts, read 5,178,250 times
Reputation: 5450
Quote:
Originally Posted by HandsUpThumbsDown View Post
I can't believe this type of advertising/financing is still legal.
As long as it's all disclosed they're golden.

If it sounds too good to be true, it is.

Oh, they gave you $2000 for your car that didn't even run during the push, pull, or drag sale? Sounds great, how much was the rebate on the car you bought? Oh, there WAS no rebate; funny, that model had a $3000 rebate last week.

I got into a debate on here a few weeks ago with a gal who truly thought that a dealership gave her the absolute best deal she could have gotten on the car she got, then paid off the loan on her trade-in out of their own pockets.
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