A clip posted by Grace Auto Group shows a $950 monthly insurance premium effectively derailing a planned Dodge Charger purchase by twin brothers despite an approved loan and a $10,000 down payment.
Dan Rabinovich, general manager at Grace Auto Group, and a salesman review financing that had been approved at a 13.95% APR, producing a $502 monthly car payment before insurance.
The salesman reports the brothers shopped multiple insurers including The General and the dealer's contact, but the cheapest option required $1,500 down and $950 per month; Rabinovich called insurance "a deal killer."
The clip, viewed more than 20,000 times, highlights that both twins are named Anthony and shows Rabinovich saying the $10,000 down payment made financing appear viable despite no credit history; insurance altered the outcome.
This report is based on information originally published by Motor1.
Read the full article at Motor1.
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