The whole money back thing makes absolutely no sense. If you are going to sell something for $500, then say you will give $100 back after purchase, why not just make the product $400? Is it some sort of sleezy marketing scheme? ELI5. Please! Make this make sense.
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Sales tax. In general banks will only lend up to the MSRP of vehicles or other high cost consumer items. But the out the door cost includes sales tax. In current America there’s many buyers who can’t afford to make an initial payment of even the cost of sales tax. So they raise MSRP and give cash back to pay sales tax. In reality they’re just financing the sales tax.
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