Personal Finance (MindTap Course List)
13th Edition
ISBN: 9781337099752
Author: E. Thomas Garman, Raymond Forgue
Publisher: Cengage Learning
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Assume you are in the market for a luxury car. You encounter your salesperson “Billy”, who is excited to see you and help you make this important purchase. You have not decided on a new or used car at this point. Billy recommends a used car that is currently available on the lot at his dealership. You also saw a comparable model on Cars.com that was brand new at another dealership that is an hour away. As you are sitting at Billy’s desk, he offers you a nice cold beverage and a snack. Although you have indicated that you may also like to go see the other car, Billy recommends running your credit to see how low of an interest rate he can get you. This seems to take some time, and at this point 2 hours has gone by. After running your credit, Billy further recommends that you speak with the finance manager about additional accessories and after-market options available. Now 4 hours has gone by and you communicate that although everything sounds really good about the car, you are concerned…
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When you purchase a new car, the “sticker price” includes a “destination” charge. Are you purchasing the car FOB shipping point or FOB destination? Explain:
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