Re: used vs. new - Posted by Karl (Oh)
Posted by Karl (Oh) on May 30, 2000 at 12:29:46:
In the last couple weeks I’ve had three different buyers tell me they started at the dealers and were promised a $500 down/$250 a month type loan. When it came time to start putting numbers down on paper, the down payment jumped up to several thousand, and the monthly payment went to over $600. The reason was less than perfect credit. The three buyers all thought the dealers were trying to rip them off, even though the dealer’s reasons were valid. So they called my ad, and two of them are buying homes from me (knock on wood). One has been approved through my broker, the other I’ve agreed to carry the note. And instead of paying $40k for a home for 25 years, they’re paying $8k or $10k for 3-5 years.
So maybe the dealers are actually helping us by looking like shysters. Even when the dealers can offer low monthly payments, there’s still the sticker shock of a $40k singlewide home. So we step in with the cheaper homes.