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Paying More Than it’s Worth

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After finding the original sticker in the glove box, a disgruntled used car buyer asks if it is legal for a dealer to sell a used car for more than it’s original sticker price.

Question: Can a dealer legally set the price of a used car even above what the sticker price was 2 years before? The original sticker was in the glove compartment. I just was involved in such a deal and feel so stupid. I was looking at the bottom line and the interest rate and payment and never looked closely a the top line! I feel the dealer really scammed me!!!

Answer: Yes, the dealer can charge whatever they want for a used car… However, you might be looking at the total amount of all payments plus finance charges interest. This could easily exceed the original sticker price even in an acceptable deal.
(source)

To avoid feeling foolish when making any purchase, please do your homework. And the same applies to researching extended and used car warranties as well. With the internet, there is no excuse for not investigating exactly what you are buying to assure that there are no surprises down the road.

Posted on Thursday, April 5th, 2007 at 9:36 pm In Used Car Warranties  

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