TL;DR
A car dealer tried to sneak in a higher monthly payment, hoping the buyer wouldn’t notice the $42 difference—a common tactic that could have cost them over $1,500. Thankfully, they walked away, proving vigilance trumps slick salesmanship.
Story
Another day, another dealer scam attempt. This time, our naive couple almost lost $1,512*
over three years due to a simple math trick. The dealer, after agreeing on a price, inflated the monthly payment by $42. This seemingly small uptick, a classic dealer tactic, aimed to recoup their earlier discount, preying on the wife’s inexperience with financing.
Like a seasoned poker player bluffing a novice, the finance guy feigned ignorance when questioned, banking on the couple’s hesitation. Luckily, the husband’s vigilance saved them. This echoes countless past scams—from Enron’s accounting tricks to the 2008 subprime crisis—where complexity masked greed. The lesson? Never trust blind faith; verify everything. Dealers, like many financial actors, thrive on information asymmetry, exploiting what you don’t know.
‣ Information Asymmetry: When one party in a transaction has more information than the other, creating an uneven playing field.
‣ $1,512: The extra $42/month over 36 months.
Advice
Never trust a car dealer’s math. Use online loan calculators to verify everything. If the numbers don’t match, walk away.