A former manager of a car dealership knows exactly how sneaky those sons of guns can be. One of their favorite tricks involved knowingly pricing out the monthly payments at $100 above what the bank computers would let buyer afford, and then acting like they’re your best friend for getting it lowered $100.

All the dealer needs is to punch your social and your income into the computer. The bank spits back how how high they will let the buyer pay on a monthly basis (this is assuming that the customer is, like most, naive, and has opted for dealer financing).

Say the the bank would let the customer sign up for $500 a month at max. So as a dealer you set the buyer up for a package that runs $600 a month. Naturally the computer rejects it. The dealer then lowers it to $500, which he knows the computer will accept, and then comes back to the buyer crowing about how he “talked them down” to $500 a month. What a great guy!

“I promise the dealers not only do this, they teach the staff to do it,” says former dealership manager wsteveg.

Always come with your own financing advance through your bank or credit union, or better yet, pay in cash (although for the guy for whom it was almost impossible to buy a new Jeep with $24,000 in hand, it’s not without its own trials either). You don’t want to get caught up in the dread “Four Square” dealership ripoff, so make sure you know how to buy a new car without getting ripped off.

Car buying-Dealer shows you how to save thousands in finance costs alone [wsteveg’s HubPage]

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