As mentioned in a previous post, you should always present yourself as a cash buyer when talking to car dealerships, because they are then less likely to withhold discount to subsidize their interest rate.
Thanks to my aggregator, Connective Plant & Equipment, other tricks include:
- Withholding a Tax Invoice, which is the key in issuing documents to you for execution; a Contract of Sale is not sufficient.
- Dealers will use all sorts of tactics not to supply a Tax Invoice, such as:
– Sales person is away and they can not locate the client’s details;
– Car is not in stock yet; or
– They are simply too busy.
- Be aware that the dealership may contact you to quote the finance, as soon as we request the Invoice.
- The dealership may delay you in picking up the vehicle, saying the funds aren’t cleared.
- Dealers often quote a base interest rate and not comparison rate, to make their finance option sound more appealing.
Dealerships have the same sources of funds as finance brokers. The only advantage that you may have with finance from a dealership is the occasional manufacturer interest rate subsidy.
This has nothing to do with Medical Equipment Finance or Finance in general, but it is certainly worthy of comment. Announcements this week from the U.S. and China about reducing carbon emissions mark the beginning of the end for coal. Obama’s new policy to cut carbon emissions by coal-fired power plants is a welcome, although belated, show of leadership on global climate change.
He now needs to finally mandate that all new federal government vehicles will be powered by natural gas, which will not only reduce our dependence on OPEC oil, but will also take advantage of an abundant and relatively cheap American resource. More benefits include underpinning an emerging industry of gas-powered vehicles and a reduction in air pollution.
According to Angus Grigg and John Kehoe in today’s Financial Review, the Chinese announcements have more to do with public opinion about worsening air quality, and the Communist Party’s belief that pollution is the biggest threat to its “monopoly on power”. The article also includes Ross Garnaut’s suggestion that China’s appetite for coal has peaked and could fall by 10% by 2020, after growing by nearly 13% annually from 2000 to 2011. This is what he describes as ”a turnaround of historic dimension and global importance.”
… in his article (below) about the current market of home loan finance.