It's an outrage

I'll tell you what I did to save lots of cash -- I arranged for financing through my credit union before I went shopping. I got approved for a certain amount and then I went to look for a car.

I then went the last week of the month and found one and was able to talk the price down by agreeing to take their GMAC financing, which of course was at like 12 percent or something ridiculous.

I of course, before signing the papers, said -- so "what if I hit the lottery tomorrow and find the money to pay off the car -- are there any penalties or fees?"

The answer was no so I signed, took the sales agreement to my credit union who promptly cut me a bank check made out to the finance company for the price of the car, warranty and the sales tax -- and I sent it in with an official letter telling them to send my title to my credit union.

My new rate was 2% which means I saved somewhere in the neighborhood of $7,500 on financing plus the $3,000 I talked them down -- because they won't tell you but they have all kinds of rebates they can slap together if they really want to move a car -- and now I have a brand new car at a very, very low monthly payment and a four-year loan.

 

I drive very carefully...