Replace the payment calculator on your dealership website with a self-penciling tool that allows the dealer to control the parameters, advises Mike Burgiss of Cox Automotive. When customers enter any APR or loan term they want into a payment calculator, they receive false information. Customers will "think they can buy the 5 series for $250 a month because they typed in 0 percent and 84 months," Burgiss said. Dealers and customers can avoid payment misunderstandings if dealers play a role throughout the shopping process, online and in-store.
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