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From: SMS on 5 Apr 2010 21:40
On 05/04/10 5:05 PM, Scott in SoCal wrote:
> Last time on rec.autos.driving, SMS<scharf.steven(a)geemail.com> said:
>
>> I did have trouble once buying a Camry that was advertised "all in stock
>> at thise price" but they did eventually agree to sell it to me when I
>> financed it. I paid it off immediately. They would not sell it to me for
>> cash.
>
> Hmm... I wonder who ends up losing out in that scenario? Does the
> finance company pay the stealership a "commission" or "finder's fee"
> or whatever it is they get up front, or does the stealership get a
> share of the interest paid by the borrower over time, a little bit
> every month?
>
> It would suck if the lender had to pay out several hundred bucks up
> front and then never have a chance to recoup that money because the
> borrower paid off the loan with the first payment.

Pretty sure the car dealer gets a kickback regardless of how soon the
buyer pays off the loan.
From: Coffee's For Closers on 8 Apr 2010 02:42
In article <6eukr5pa3o1vubsadu73buef259lo79vc6(a)4ax.com>,
scottenaztlan(a)yahoo.com says...
> Last time on rec.autos.driving, SMS <scharf.steven(a)geemail.com> said:
>
> >I did have trouble once buying a Camry that was advertised "all in stock
> >at thise price" but they did eventually agree to sell it to me when I
> >financed it. I paid it off immediately. They would not sell it to me for
> >cash.

> Hmm... I wonder who ends up losing out in that scenario? Does the
> finance company pay the stealership a "commission" or "finder's fee"
> or whatever it is they get up front, or does the stealership get a
> share of the interest paid by the borrower over time, a little bit
> every month?
>
> It would suck if the lender had to pay out several hundred bucks up
> front and then never have a chance to recoup that money because the
> borrower paid off the loan with the first payment.


Yeah-but... How often do people actually sign up for financing
and then pay off the loan in a lump sum?


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