What does normal leverage mean?

Asked by Mar 11, 2013 at 11:08 AM

Question type: Shopping & Pricing

1 Answer

"Leverage" with regard to car buying is where you stand with how much you have to put down, and, say, if you have cash to pay for the car you have a lot of 'leverage, you can haggle with the salesman with leverage on your side, he will drop the price. If you have little or no down, you have no leverage and the salesman has 'the ball" and the advantage. 'Normal' leverage is somewhere in the middle, you can't pay for the car outright but have a decent down payment and good credit

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