When people buy a new car they often get lost in the buying experience. They spend hours going through brochures and comparing the different makes and models. Once they decide on the kind of car that they want to buy, they have to decide what color they want and what options they need added to the vehicle. When all of this is done, they head to the dealership the car. What most people don’t spend a lot of time thinking about is financing the car. But this is not a problem because the car dealer says that he can get them fast and easy financing for their new car. This is where the problems start.
The average person does not have much experience with buying a new car or with negotiating with car dealers. Car dealers are professional salesmen and negotiators. They are very talented at reading people, and they know what buttons to push to get you to agree to a deal. Everyone knows that car dealers make a profit off of each car that they sell. That is expected. So, most people concentrate their negotiations primarily on lowering the purchase price of the vehicle. Once the sale price is agreed upon, they make the deal with dealer arranging the financing of the car.
The problem with the above scenario is that the consumer is unaware of the expensive hidden costs incurred during the transaction. Most people are unaware that the car dealer makes a huge profit from arranging financing for their customers. The bankers and the car dealers have an agreement that allows the dealer to tack on some extra interest on each loan. This results in a huge amount of extra money that the dealer can keep as profit on the sale. This is good for the dealer and bad for the customer who ends up paying for it all with his huge monthly car payments.
After a while, you may begin to feel the financial strain of making your expensive car payments every month. You may even be asking people: How can I slash my payments? The best answer that you can get is to refinance your car with Ignition Financial. When you refinance your car, your monthly payments will drop immediately. You will then find yourself with extra money each month that you can put to good use. The professional staff at Ignition are experts at helping people like you get out of a bad situation.