Automotive Paint Posted February 6, 2008 Share Posted February 6, 2008 (edited) Mall of Georgia Ford has been advertising one of those classic bring $49 to put down and pay the payment on the window sales. What makes this dealer so unethical and sleazy is the fine print is 180 months @ 8.5% APR! They showed new Fords with payments on the window but the fine print didn't say what the selling prices were so here's what a loan calculator said: They advertised F-150 's - $229/per Loan Amount:$23,255 Total of Payments: $41,220 Interest: $17,965 They advertised Expedition - $269/per Loan Amount:$27,317 Total of Payments: $48,420 Interest: $21,100 They advertised F-250's - $289/per Loan Amount: $29,348 (funny because the truck with the payment on the windshield sure looked like a 4x4 Lariat to me) Total of Payments: $52,020 Interest: $22,672 For arguments sake: Assuming you are a simpleton who takes this deal because for whatever reason you can't afford a new Ford vehicle payment any other "normal" way what will your opinion of Ford be when you are so upside down on your mortgaged Ford it will take getting an inheritance or hitting the lottery to get rid of it? Now on the flip side of things what if you were a financially savvy and intelligent consumer who was currently considering a Ford and you saw this commercial? Using simple consumer financial common sense what does this imply about the brand, the dealer and the consumer which Ford markets its vehicles to? Edited February 6, 2008 by Automotive Paint Quote Link to comment Share on other sites More sharing options...
OAC_Sparky Posted February 6, 2008 Share Posted February 6, 2008 Not defending the dealer, but is it any different than Visa with an 18% interest rate or a Sears card with a 28% interest rate? But nobody is boycotting Sears! Bottom line, is if you're that naive of a consumer or you're too lazy to find out what you're getting yourself into, you deserve to be taken advantage of. It's this dependence on the non-existent goodwill of credit lenders that's destroyed the economy in the first place. Quote Link to comment Share on other sites More sharing options...
Bored of Pisteon Posted February 6, 2008 Share Posted February 6, 2008 Not defending the dealer, but is it any different than Visa with an 18% interest rate or a Sears card with a 28% interest rate? But nobody is boycotting Sears! Bottom line, is if you're that naive of a consumer or you're too lazy to find out what you're getting yourself into, you deserve to be taken advantage of. It's this dependence on the non-existent goodwill of credit lenders that's destroyed the economy in the first place. And this is the kind of shit that is turning me off on financing a new car right now. I just got over a rough couple of years financially and quite frankly... Anybody financing a new car in today's economy is an absolute fool for doing it. Quote Link to comment Share on other sites More sharing options...
Furious1Auto Posted February 6, 2008 Share Posted February 6, 2008 And this is the kind of shit that is turning me off on financing a new car right now. I just got over a rough couple of years financially and quite frankly... Anybody financing a new car in today's economy is an absolute fool for doing it. Well the financing is one issue, but the MSRP's are the other. I think of owning a new truck often, but when I do I want to get the options I want because I will have it for a long time being it would be a third vehicle. But when I build the truck I want it comes out to between $40,000 to $50,000. Using a simple rule of thumb a salesman buddy of mine told me to. Your monthly payment on a buy is roughly $20.00 a month per 1,000 in MSRP, simply your talking between $800.00 t $1,000.00 an month for the payments. No f-cking way, in my city we have decent houses going for $20,000 and I could buy three of them on a thirty year note and enjoy residual income from them in rent! There is no way I would pay that much anything that depreciates and will hit a scrap yard in 10 to 12 years! Quote Link to comment Share on other sites More sharing options...
Bored of Pisteon Posted February 6, 2008 Share Posted February 6, 2008 Well the financing is one issue, but the MSRP's are the other. I think of owning a new truck often, but when I do I want to get the options I want because I will have it for a long time being it would be a third vehicle. But when I build the truck I want it comes out to between $40,000 to $50,000. Using a simple rule of thumb a salesman buddy of mine told me to. Your monthly payment on a buy is roughly $20.00 a month per 1,000 in MSRP, simply your talking between $800.00 t $1,000.00 an month for the payments. No f-cking way, in my city we have decent houses going for $20,000 and I could buy three of them on a thirty year note and enjoy residual income from them in rent! There is no way I would pay that much anything that depreciates and will hit a scrap yard in 10 to 12 years! I've had my fill of new "off the dealer's lot" vehicles. 2 trucks (A 1998 F-150 Supercab and the 2002 F-250 Crew Cab) the latter was a killer for me in terms of overall cost but I got my miles out of it, fun out of it, and towing usage out of it when I got rid of it last year with 128,000 miles on it and needed a lot of work not only in terms of tune-ups, but brakes, suspension work. Not worth the money and a V10 to boot! That's why I said... Anybody buying new vehicles right now better have a good reason to do just that or they are part of the mass "consumerism" problem in this country. Quote Link to comment Share on other sites More sharing options...
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