[T Bone]

I saw an ad on TV basically claiming that even if you have horrible credit, you can get a new car for $88 down and $88 / month. Even if you have negative equity in your car, they will pay it off (presumably roll it up in the capital cost) and it is still $88 / month. No doubt they are crappy cars but in the TV ad, they are claiming the cars are new.

For all you finance guys out there how is this working? Normally high risk people are given oppressive interest rates.

I went to their website and there was no more detail

https://secure.focusinc.com/crazy88/index.html

[DanMardik]

it's called a scam.

[T Bone]

Originally Posted by DanMardik

it's called a scam.

OK how does it work?

[DanMardik]

try OFF TOPIC forum.

[iatacs19]

$88 a month for up to 3 months at dealer discretion. Offer may be withdrawn at any time and is not to be used in conjunction with any advertised offer. Amount of down payment and monthly payment may vary based on consumer's credit history.

From reading this in the disclaimer it seems that the $88/month is only good for the first 3 months.

[jetblk328i]

i saw it too the guy was like 88 dollars down and 88 a month and you can be driving the car of your dreams....

[jetblk328i]

sure hook me up with a 760LI

[T Bone]

Originally Posted by iatacs19

From reading this in the disclaimer it seems that the $88/month is only good for the first 3 months.

Cool....I didn't see that hyperlink.....

I wonder if these guys charge a big application fee.

Always the poor and desperate that get fleeced (and BMW customers )

[magmd]

Sure, you pay $88 per month for 3 months, then how much thereafter??

So, they make money off you if you are able to make your payments on time. However, let's say you can't make payments, b/c presumably its attracting people that will make a terrible decision and get a car way beyong their means....they go repo the car back, they keep your money, and resell the car.

Edit: hmmm weird website! LOL!

Here is the key part on the disclaimer:

Amount of down payment and monthly payment may vary based on consumer's credit history.

Basically...its an advertising campaign to get you in the door. Once there, you may not qualify for the "promotion" and have to settle for higher down payment and/or higher monthly payments b/c at least SOMEONE is willing to finance you ---if you have a bad credit history.