Hillsboro Auto Mart Deceptive Trade Practices Tampa Florida

I was just made aware of the review and comments on Daniel Curley and like so many others have done I would like to say something positive about how fairly I have been treated by Daniel over the last 25+ years.

Over those 25+ years my family has purchased over 30 cars from Daniel and we have always been pleased with the amount of info provided about our financing and the quality of the cars available to purchase.

Along the way there have been a few mechanical issues with the cars purchased but we were always taken care of even when it was not the dealership or Daniel's fault.

One thing I can say from experience is Daniel is a good person and I suggest that others give him a chance to serve you if you are in the market for a preowned car or SUV.

Tim R. in Tampa

My assumption is that the dealership you worked for most likely did not offer simple interest loans and that your background is not financial so you are not familiar with the various financing options available to individuals, outside of what your dealerships offered.

That being said, I recently bought a car at Hillsboro Auto Mart and had the exact same experience with Dan. The difference being that I have a financial background and found it incredibly enjoyable. He and I went through all of the equation's and I found him to be extremely well informed. 

Things to note:
1. There is no haggling, the cars are priced very fair in comparision to competition and Dan will not negogiate much if at all on the list price.
2. The same can be said of trade- in's. You stand a better chance of getting a favorable price if your car is one that he can list and sell at his lot vs. taking to the auction.
3. I left with a simple interest 5 year loan.  If I keep the loan over 5 years, I will only pay around 1k in interest.  You can do the math on your own or use a financial calculator.  I ran the numbers multiple times to ensure that I was not being "duped" with his fancy math tricks. 
4. The biggest savings you get by going to Hillsboro Auto Mart is around the financing, in my case I have great credit so I was able to lock in a phenominal interest rate on a used car.

I hope this is helpful, and provides more context around the business practices. 

To whom it may concern,

     I know of Hilsboro Auto Mart personally, and this is the first time I have heard anything negative about them.  Dan Curley is a customer of mine, and I am about to become a customer of his.

Thanks ahead of time for reading this.  Pretty SIMPLE stuff.

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     The gentleman reporting the ripoff is not as educated as he might think, as he never heard of a simple interest loan.  What a piece of work HE is!  See below.

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Simple interest is the most basic type of interest. In order to understand how various types of transactions work, it helps to have a complete understanding of simple interest.

For example, you may pay interest on a loan, and it is important to understand how interest works. Better yet, your bank may be paying you interest on your deposits and you can maximize your earnings by knowing more about interest.

Simple Interest Overview

Simple interest is just the amount of money paid on a loan. It is the easiest type of interest to calculate and understand. Other types of interest (like APY, APR, and compound interest) can be more complex.

Simple Interest Formula

If you want to calculate simple interest, use this formula:

I=P r t

In other words Interest (I) is calculated by multiplying Principal (p) times the Rate (r) times the number of Time (t) periods.

For example, if I invest $100 (the Principal) at a 5% annual rate for 1 year the simple interest calculation is:

I=P r t

$5 = $100 x 5 % x 1 yr

Simple Interest Limitations

Simple interest is a very basic way of looking at interest. In fact, your interest whether youre paying it or earning it is usually calculated using different methods. However, simple interest is a good start that gives us a general idea of what a loan will cost or what an investment will give us.

The main limitation that you should keep in mind is that simple interest does not take compounding into account.

Going Forward

Now that you know how simple interest works, you can look at more complex types of interest. Most of them are a variation of simple interest, and the calculations are repeated several times throughout the life of a loan.

A good next step is to familiarize yourself with Annual Percentage Yield (APY) which takes compounding into effect.

You can also see how much interest you pay when borrowing money. Running the numbers may motivate you to borrow less and repay debt more quickly.

Is that you were in the car business for 14 years and this is a surprise to you. What you described is par for the course at nearly every dealership I've ever visited.