Quote:
Originally Posted by lolwut
Very basicly, a fancy way of saying 'price reduction off MSRP'
instead of giving you $5000 off MSRP thus lowering the base cost of the vehicle, a cost cap red essentially acts as a down payment or cash value twoard the full purchase price of a vehicle.
ie.. if you're financing $70K and you negotiate 5K off by a cost cap reduction, they'll finance you that 70K and automaticlly apply 5K worth of downpayments.
instead of say, financing you for 65K. It's a very round-about way of charging you a slightly higher interest rate because you're financing more money essentially
-----I guess I can't do that bc I already agreeed on an Msrp from which my upcoming lease payments will be calculated------
the full retail cost to repair any items that exceed their damage thresholds essentially, as well as typically a small admin fee.
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-----so basically whatever the dealer would normally charge to fix my dent (getting a new fender and painting it and installing it) they will charge me for? I might as well go to maaco, finding their cheapest option and doing that since I'm giving the car away. No?------