vfast

what gets me is all the whining you guys do....it's simple if you don't like the deal..walk away..don't waste your time getting mad..same with the int on the loans..there is no gun on you if you don'y like it walk away..remember you the buyer it's your hard earned $$$$$ do your home work. I agree I don't like some of the places tactics so I walk..I cut to the chase when I'm there it's this price or you can't help me......what pisses my off is the BS doc fee's and the bus. lic. tax..

mrbmp

No harm in making an HONEST living. I have no problem with that whatsoever.
We deserve the interest rate we qualify for period, and should not have to beg for it.
We worked hard for years to get good credit and should not be SCREWED out of a good
interest rate because someone wants to make an EXTRA buck off of us.

Soo how much of the jacked up rate goes in your pocket???


The website for absolutely free credit reports is
https://www.annualcreditreport.com/cra/index.jsp

Now available in all states except the NE, they will be available Sept. 1-05

you can get a free report from all 3 agencies, but you are limited to once a year from each one.


As I mentioned earlier those add ons **** me off too.

.

Wldstng05

Yes, but they'll only remove it if it is indeed an error. Otherwise, we'd all have spotless credit.

I'm all for making a dollar but I'm not for ripping someone a new one for a buck. I sold cars
for a while and watched as some poor sap (not my customer) paid MSRP for a ride and then paid way over
the interest rate they qualified for and then they paid for the dealer extras and the huge extended warranties.
PURE profit. There is a line between making a living and taking advantage of the stupid.

I know before I walk in what interest rate I qualify for, what the car cost the dealer and what I'm willing to give them for it.
I will NEVER trade a ride in unless it's just worthless - you can always get more for it privately. I also know that the dealer gets
a few percent back quarterly for each vehicle (so even if you got it for "invoice" they still get like 3% from the manufacture.

What's the first question a salesman usually asks? "What kind of payment can you afford/looking for"

Wldstng05

BUT - Salesmen don't make much. They usually get 20 - 30% of the amount over dealer invoice or $100 minimum
per vehicle. Think about that. A GT is marked up about $3K. If you paid sticker, your salesman made $600. If you paid $1500 under, he/she made $300.
However, if you sell more than 8 or 9 a month at most dealerships you did good. At large dealerships such as Bill Heard Chevy you sold 12 - 15 a month but made usually $100 - $150 per vehicle. So don't get too hard on the salesman unless he's been around a while or he's a "floor manager". The finance guys deal happens separately and the salesman really has little input and gets NONE of those profits.

Ok, sorry to get carried away but that's the way a deal goes down.

KandyMan

In response to "Soo how much of the jacked up rate goes in your pocket???"



you really wanna know how much i make on a deal.....well here ya go....if you get special fianancing i.e low 1.9, 2.9 financing i get .00715 of the unpaid balance, or 100 bucks if that amount is lower than 100 bux and i am only allowed to mark up regular financing 1% over the buy rate...which isnt much most dealer do the 2.5% max....just to let you know....and then oh yeah...you take my total backend moneyt i made...and then i get only 70 percent of that....oh wait i also have a 2000 pack so....example..i made 10000 back end profit take 70 percent of that 7000 and then subtract 2000 and the gimme 15 percent of that so boys and gals whats 15 percent of 5000 thats right boys and gals 750 bux.....stiull want my job........and yes i get some salary, and objective and penetration money...but just enough to make a living and have a few bux extra...

Wldstng05

So bascially, KandyMan is saying that finance guys make a little more than the salesmen... but not much.
Sales Managers make good money - the rest don't.

I'm just glad the IT market opened up wide enough for me to jump back in!
Good luck KandyMan...maybe they'll make you a manager.

vfast

I know the saleman don't make sh it..it's like a pyrmind...and alot of guys just on commission this is why you see 15 guys out front.....this is why I said DO YOUR HOMEWORK...that one guy would had never got stuck if he did....saleman motto #1 thanks god there is a sucker born every minute[:@]

don_w

Walk away??? From an 05 Mustang??? You clearly haven't been bitten by the same bug most of us have. After waiting for 3, 4, 5 or even 6 months for our cars to arrive... walk away? Never. Argue, negotiate... yes. Walk away... I don't think so. I wanted this car more than any car in the past 28 years.

By the way, for what's it's worth, mine will be paid off in about 3 months, so the interest rate wasn't even an issue for me. I think in the 6% range, though.

Mister Roper

The F&I guys are just out to make a living like the rest of us. I think you would be shocked to learn how much the loan officer/broker makes on the deal when you buy your first home. Either way, a credit union is going to be a best bet for your financing.

NCMustangMan

My salesman had to route me through the finance department at my dealer even though I had my checkbook in hand. I had to listen to a 15 minutes speech about Ford's aggressive finance plans before the lady would even accept my check. I remember when paying cash was considered a good thing. Geez.