Value Microcaps Motherboard

[kipp440]

dickmilde - My loan story

When gas prices went up after Katrina it opened my eyes as to how much it really was costing me to drive a 1995 full size 4x4 Dodge pick-up that got 12 mpg. I parked it on the driveway and went to the Jeep dealer and picked out a 2005 diesel Liberty that gets 26 mpg. I told them I would write a check for the total. The salesman said, "no, you don't want to pay for it, we'll pay you $1,000 to finance it." I told him to take me to the credit manager. I read the fine print and all I had to do was make 3 payments and then I could pay the loan balance off, in full, no penalty. I took the $1000, made the 3 payments, paid it off, and netted something like $700. I couldn't believe it. I later found out that the financing company paid the car salesman a commission on every deal that got financed.

Kipp