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About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (Dec. 22, 2004)
Page A8 <r‘K ^Jortlanh (©bseruer December 22. 2004 Opinion articles do not necessarily reflect or represent the views o f The Portland Observer O pinion Buyers Beware of Markups by J udge G reg M athis T he P ortland O bserver Buying a car can either be a pleasurable or stressful occur rence. There is one thing, how ever, that is usually never fun - paying the d ea le r m arkup. Dealer markup is a fact of car buying life but how much one pays and who pays what is som ething that is subject to change depending on the sales man and the purchaser. In fact, The Consumer Fed eration of America reported that people of color are bei ng charged as much as $ 1 billion annually in undisclosed finance markup charges. The numbers for white Am ericans are substantially lower. Dealer discretion is the chief reason behind the grow ing markup disparity. A study of lawsuits against General Mo tors Acceptance Corporation (GMAC) revealed that markup costs imposed upon minority buyers were as high as $26,0(X) in some cases. This markup was in addition to the cost of the car and the bank-charged interest. What makes this situation even more obscene is that markups (in theory) are linked to one’s creditw orthiness and should vary by a few percentage points. When consum ers pay 22.75 percent m arkup - th ere’s a problem. States recognize this problem and there are a growing number r>o 1 have of them that are beginning to enact legislation to limit the amount dealers can get from consumers. From liat fees to percentage caps, states are starting to ensure that consum ers are ( more (fully apprised of their rights and where their money is going. This legislation is essential because the way the system is currently set up, the worse off the consumer is, the better off the dealer is. Therefore, it is in the dealer’s best interest to | M v -A R H O R F or Y our HU nnee ? « E U N o */ ...B U T p o Ir tW E SOME1BIN6 EVEN BETTB< F ö RYA9 /ABSOLUTELY/ give the consumer a bad deal. And, more often than not, it is minority consumers who get the high end of the markup rate stick. Minority consumers must be come aware o f the fact that • >* * they can negotiate their inter est rates. They don’t have to j IM M M M M M M N M N I accept whatever high and dis criminatory rate offered them by various dealerships and ! salespeople. By increasing knowledge | about what options are avail- j You may wish to be mindful o f who you patronize relative to their election cycle political donations, as reported by the Center able and what rates are com fo r Responsive Politics. Be aware which corporations helped re-elect Bush and vote with your pocketbook: petitive, minority car buyers can begin to shift away from deal I’ricvt luh/( ostco $225K, o f which 99 percent went to Democrats WalMart $467K, 97percent went to Republicans ers that take advantage of Rite Aid $5\7K. 60% to Democrats K-Mart $524K, 86 percent to Republicans people of color and to those Magla Products (Stanley tools, Mr. Clean», $22K, 100% to Democrats Home Depot $298K. 89 percent to Republicans that do right by them. Martha Stew art $ 153K, 99% to Democrats Judge Greg M athis is Target $226K, 70 percent to Republicans 1 Vote Your Pocketbook oz £ C , oX chairman o f the Rainbow PUSH-Excel Board and a national board member o f the Southern Christian Lead ership Conference. l EsteeI.auder $448K, 95% to Democrats Circuit City Stores $261K, 95 percent to Republicans Guess? Inc. $ 145 K, 98% to Democrats 3MCo. $281K, 87percent to Republicans CalvinKlein CZ3 100% to Democrats Hallmark Cards $319K, 92 percent to Republicans LizClaibome $34K, 97% to Democrats Amway $391K, 100 percent Republicans Levi Straus $26K, 97% to Democrats Kohler Co. $283K, 100percent Republicans B.F.(¡oodrich $215K, 97percent to Republicans Proctor & Gamble $243K, 79percent to Republicans I riarcC o m p an ies (Arby’s,T.J.Cinnamon's,PastaConnections),$l \2K,96percent to Democrats ie give payday advances checks cashed Post-dated checks cashed and held until payday £’■> Checks cashed (any kind -- m " last s e r v ic e s linesNow rales 03798621 açu ONNECTION 9 II 3 . I a 7 . J'jj I N f a a a 9 iiiB iiW IJ B IIlH J IJ IllII loans • fax service • 2-day tax refunds • electronic tax filing free money orders open mon-lhur, 9am-7pm Iri, 9am-8pm sat, 9am-7pm Sill), 103II)*4pni 0 Pilgrim’s Pride Corp, (chicken), $366K, 100percent to Republicans Outback Steakhouse $641K, 95 percent to Republicans 1 ricon G lobal R estau ran ts (KFC, Pizza Hut, Taco Bell ), $ 133K, 87 percent to Republicans WalTIc H ouse $279K, 100 percent to Republicans McDonald’sCorp. $ 197K, 86 percent to Republicans D arden R estau ran ts (Red Lobster, Olive Garden, Smokey Bones, Bahama Breeze), $ 121K, 89 percent to Republicans SPIRITS Joseph^}. Seagrams & Sons Hyatt Corporation (includes beverage business plus considerable media interests), $2M+, 67 percent Democrats $ 187K. 80percent to Democrats (iallo Winery $337K, 95percent to Democrats Marriott International The fastest way to send money FREE DVD Player with first approved loan $200.00 or more. Call for details (503) 287-M O N Y IM LK , Jr. location only) j $323K, 81 percent to Republicans C oors $ 174K. 92 percent to Republicans Holiday Inns Brown-Forman Corp. (Southern Comfort. Jack Daniels, Bushmills, Korbel wines - as well as Lenox China, Dansk, Gorham Silver), $644K, $38K. 71 percent to Republicans 80 percent to Republicans THE SPINAIÇOLUMN Dr. Billy R Flowers WESTERN UNIO N TRAVEL An ongoing series oi questions and answers about Americas natural healing profession Thank you: A Happy and healthy New Year to our great patients. Now is the season to reflect on Only nature creates and only na well-being. If you ever have any the events o f the past year and ture can truly heal. questions about your health or look ahead to al I the New Year has We look forward to continue about any o f our many services, to offer. This past year has cer serving those o f you w ho’ve made w e’ll always be happy to help. tainly been a happy one for all of the natural selection: Chiropractic. A gain, we w ish you a H appy us. W e’ve had so many kind and T he only m ajor health science H oliday and co n tin u ed health wonderful patients. whose only side effects are im through-out the com ing New To all of you, “thank you." We proved health and greater sense of Year. appreciate your courtesy and your zeal to share with friends how Chiropractic’s natural healing has helped you. It is really exciting to 2124 N.E. Hancock Street, Portland, Oregon 97212 have more and more people aware P h o n e: ( 5 0 3 ) 2 8 7 -5 5 0 4 of the healing power of nature. Flowers* Chiropractic Office
