Here is a question worth sitting with.

If selling used cars is such a great business, why does almost every large used car seller also run a lending operation?

Not a partnership. Their own lender, with their own capital, making their own credit decisions.

The answer is that the car is not really the product. The car is what gets you onto the lot.

car max slow clap GIF by Yahoo Screen

Gif by yahooscreen on Giphy

The loan is where a remarkable share of the profit comes from, and once you understand that, the entire car buying experience makes a different kind of sense.

This one will change how you walk into a dealership. Let us go.

Subscribe to keep reading

This content is free, but you must be subscribed to Penny Brief to continue reading.

Already a subscriber?Sign in.Not now