FLASHBACK FRIDAY: Cash Back — or 11.9% Interest [VIDEO]
I have a fondness for the 1980s. The bulk of my childhood was spent during that decade, so I love the TV shows, the music, and even some of the clothes — the brighter the Dayglo colors the better, if you ask me.
But the cars? Not so much. My first car was a white 1984 Plymouth Reliant K-car, and I won’t bore you with the details of how much trouble I had with that car, which, by the way, only had an AM radio. (Can you even imagine today’s 16 year olds coping with such a lack of technology?)
What I will share with you, however, is a commercial from 1982 that I found for the Reliant’s twin, the Dodge Aries, and its sister, the equally boxy Dodge Omni hatchback.
The cars are seen from a nice aerial shot cruising highways together as the announcer talks about some of the incentives. Buyers could get from $300 to $1,000 cash back, the latter of which is still a pretty sweet deal to today’s buyers. Or, they could opt for 11.9% APR. Yes, you read that right, 11.9% APR. Suddenly, the slight uptick we’re seeing in interest rates doesn’t seem all that bad, does it?
Also of note, though the video is a bit blurry, you can still make out the words “Dealer contribution may affect final price.”
Enjoy!
