Offlist Re: offsubject

[David Morris]

Elaine,

I expect what the car dealer is doing is putting what would have been a rebate
(cash back to you after the purchase of the car at *X*) as a part of your
downpayment, thus lowering the amount that would have been financed (and thus
making your credit picture look a little more viable).  You would not be paying
any more for the car.  Its price would still be *X*.  You would just not be
free to go out and spend the rebate.  So if the rebate is $2500 (not $3000) and
you contribute $500 from your pocket, you would have a total of $3000 for a
down payment.  Does that make sense?

David Morris

--- Elainemmbell at aol.com wrote:
> As you know I've been having a viciously miserable couple of months because 
> of financial problems, most of them emanating from bad cars...desperately 
> trying to buy something now but have poor credit and little cash (little on 
> this day meaning none)...one car dealerhas just told me I could, given my 
> "sub-prime credit history" buy something with a $3000 rebate plan , which 
> really means I'd put $500 down and the $2500 would be "part of the car".  I 
> speak English as a first language and am quite facile with it, but this 
> sentence makes NO sense to me.  Will there be $2500 hidden under the seats?  
> Does it mean I'll pay $2500 MORE for the car than someone else would?  I just
> 
> don't follow and he talked really fast and thought his explanation made 
> sense...is someone out there practiced enough at mundane real world matters 
> to advise me? I feel SO stupid! (he also had much better shoes than I)
> 
> Thanks in advance for any help, and apologies to anyone offended by my 
> requesting real-life assistance.  Without family and without friends any more
> 
> practical than I am this was my best avenue for support!
> 
> Elaine M.M. Bell, Writer
> (860) 523-9225
> 


__________________________________________________
Do you Yahoo!?
Yahoo! Platinum - Watch CBS' NCAA March Madness, live on your desktop!
http://platinum.yahoo.com