Additional fees that used car dealerships add

stevesingh wrote: ↑ Hi ,
My brother was looking for a used car and bought a CRV recently . He negotiated the price - 24k and told me that his final payment is going to be 650$ with 8% interest for 60 months. This did not make sense to me initially(I was expecting payment to be about 450$) but then he told me that they added other fees like GAP insurance etc.

He did not share his final invoice , but I am curious on what fees used car dealers add these days and what fees are OK and what are rip-offs .

Thanks

matrixfwd wrote: ↑how used is the CRV? did he compare the price with a brand new CRV?

stevesingh wrote: ↑ it is 2017 CRV EX , with 100k kms . price (24k) seems to be fine but with all those added fees , he surely got ripped .

I personally bought brand new CX5 GS in 2021 , and if I have went with finance it would be about 570 for 60 months . And he got a 5-6 year old used car with 650$ payments .

I don't know why people buy used car with such bad deals .

Can he do anything now , like GAP insurance refund etc ? Deal is signed and he got the car already ..

“This change will make a great difference for our members,” Geoff Sine, executive director of the Manitoba Motor Dealers Association, said in a statement. “It gives them another tool that can be used to better protect their customers in case of an accident and will help customers avoid financial hardship.”

ichibansan wrote: ↑ Gap Insurance = gap in head if you buy it.

mrweather wrote: ↑ And this is why the retail vehicle industry will always be regarded as the scum of the earth no matter how hard they try to improve their image.

aleks wrote: ↑ This is actually pretty useful on new cars and is free on most leases.

Used cars, especially ones that are 6 years old, not so much.

StatsGuy wrote: ↑ i mean there's options... goto canada drives, clutch.ca etc if want to just buy online and all in price online.