What is dealer preparation?
The Bankrate.com financial term of the day is: "Dealer Preparation," or "Dealer Prep"
When you buy a new car, the dealer may attempt to charge you for washing the vehicle, giving it oil and otherwise getting it ready for sale. This dealer preparation, or dealer prep, charge often represents pure profit for the dealer. Typically, the manufacturer has already taken care of the costs related to putting the car up for sale.
Car buyers should be skeptical of dealer preparation, or dealer prep, charges. In many cases, the dealer is trying to make you pay for services the manufacturer has already covered and don't cost the dealer anything.
For information on great cars and great car loan rates, visit the Auto section at Bankrate.com.