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Article:
Shopping For A Car? Don't Get Taken For A Ride! by: James H. Dimmitt Imagine this ... You're ready to buy a new car. You've done your research on the web at a site like Edmunds.com so you know what the dealer has paid for the model you want. Based on your information you've established your comfort zone for price haggling. You walk into the dealership, meet with a salesperson, and begin negotiations. At the end of your test drive and haggling, you're confident that you've made the best deal possible. No way you're getting ripped off because this time you are an 'informed consumer' unlike when you bought your last vehicle. One final step stands between you and your brand new 'ride' - financing. Your credit is outstanding so you get what you believe is the lowest possible interest rate from the dealership. You drive away in your shiny new vehicle triumphant! Ready for a dose of reality? According to a new study, there's a 1 in 4 chance that you've been 'taken for a ride' by the dealer's finance department, especially if you are female or a minority, by as much as an extra $'1
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