Finance manager experience...

Messages
7,514
Location
FL, USA
I picked up our new 2020 Jetta on Friday to replace our 2020 Jetta with the paint defect. The transaction was quite smooth until I got to the finance managers office. One of the first forms he wanted me to sign was the one declining all the additional packages you can purchase at the dealer level. Of course he was taking very fast and told me I was signing to decline coverage on these items BUT he thought I wouldn't notice the "paint and fabric protection" option that was checked off! He had already rolled it into the loan without my approval! I stopped him mid sentence and asked him if there was a charge for that option, he said "no it won't increase your payment". I told him I understood that but I had never requested such an option, so why was it rolled in? He huffed and puffed and found it silly of me to decline it since it wouldn't increase my payment and I told him to take it off. He begrudgingly redid the paperwork without the option.

Then we get down to the interest rate! I have excellent credit so I want worried about getting the best rate, but I did tell my sales man I didn't want to sign any paperwork until I got confirmation that I wold get the rate I wanted. He said OK! Yet, when I get to the finance manager and start signing on the dotted line I see a higher interest rate than I told them I would move forward with! He seemed frustrated that I noticed then told me thats the best the bank could do. I refused and told him I explicitly stated that I wouldn't move forward with the sale without the rate I wanted / knew I could get. He quickly checked with another lender and got the rate I wanted (same as previous Jetta).

I know how dealers can operate, but goodness! I wold hate to think of what they do to the average buyer! One of my coworkers purchased a 2015 Malibu about a year or so ago and the dealer sold her and her husband a $3000 third party warranty. I cringed when she told me.

Anyway, I was very careful to review all the details and because of that wasn't taken advantage of.
 

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Messages
24,720
Location
Dallas,Tx USA
I'm really beginning to love the VW/Audis. Great looking car!! Congrats!! What's that small Audi coupe I see every once in a while? Almost looks to be the size of an Accord coupe. There's just something about their styling which seems ahead of their time that I like.

Yes,always scrutinize and ask MANY questions. Question EVERYTHING a slick talking dealership tries to flim flam you with.

How would you compare your Jetta to your Accord in likability? I know nothing about VW's at all, but they've began to pique my interest, especially those small Audi coupes. Are they two seaters or 2+2s? I'd like another 2-seater.
 
Messages
825
Location
TX
It's all an act. Let them huff and puff. Hold their feet to the fire. Next time get a loan before you go in. Dealers can legally 'charge' a small percentage above the interest rate the bank offers. That's how they make money off of financing.
 

gregk24

Thread starter
Messages
7,514
Location
FL, USA
It's all an act. Let them huff and puff. Hold their feet to the fire. Next time get a loan before you go in. Dealers can legally 'charge' a small percentage above the interest rate the bank offers. That's how they make money off of financing.
I checked with our bank and got their rate.
 

Nick1994

$50 Site Donor
Messages
13,430
Location
Phoenix, AZ
The worst I've experienced was when I went with my grandma in 2016 to buy her Grand Caravan. The dealer required a 10 oil change package for $799 and required the paint sealant package for $300, and required the tint for $200. First of all, they had a flyer behind the salesman that advertised the same oil change package for $599. Second of all, paint sealant on a 2 year old prior rental white minivan? Third of all, you're telling me this van didn't have tint in PHOENIX already!? I made them take it all off.

She wanted to write a check for the whole thing, but they insisted the OTD price would be like $2,500 more. So she put $10k down and paid the rest off the next month.

Then we went into the finance manager's office. I had already written down the OTD price on my phone we discussed earlier. He mentioned something about an extended warranty, we weren't interested. Then as she's signing all the paperwork, he slips in real quietly "here's the platinum protection package". HE PUT IN AN EXTENDED WARRANTY! They had to shred everything and start all over.

Airpark Dodge Chrysler Jeep.
 
Messages
4,709
Location
Ca.
Par for the course. Most dealers swing and get a triple whammy.

Sales guy that cant do anything but fill out a 4 square.
Sales "manager" somewhere in a room 20 minutes away you can never meet.
F&I guy with the pre-applied tru-kote thats already on the doc.

A little preplanning goes a long way when buying.
 
You think they huff and puff at that.

Get a price, write them a check...

That really upsets them...

Ditto. Just write them a check
Oh, you can't afford to write a check? Then you can't afford that car. Get a less expensive car.

I HATE F&I Guys I let them know right before they start their routine F&I guys make (steal) more money for the dealership and themselves than anyone else at the dealership. I've had a couple F&I guys comply but most don't.
I just tell them NO! I've walked out of the dealership twice because of F&I guys that won't listen
 

JTK

Messages
13,521
Location
Buffalo, NY
It's always the Finance Mgr experience to be leary of and ready for.

For sure on that. I've had similar experiences to gregk24 over the years with things added on or changed around. I've had FMs begin to get nasty with me for refusing add-ons and extended warranties. "Explain to me WHY you DON'T want this". "I don't feel comfortable letting you go without this". LOL!! I've got a come-back for all of it and told the one fella that was trying to get nasty, one more word in regards to this and I'm out and I won't be back.

In my experience it's gotten much worse the last 10yrs or so. Used to be a piece of cake. You only dealt with the FM to sign standard bank and MV paperwork at best.
 

gregk24

Thread starter
Messages
7,514
Location
FL, USA
For sure on that. I've had similar experiences to gregk24 over the years with things added on or changed around. I've had FMs begin to get nasty with me for refusing add-ons and extended warranties. "Explain to me WHY you DON'T want this". "I don't feel comfortable letting you go without this". LOL!! I've got a come-back for all of it and told the one fella that was trying to get nasty, one more word in regards to this and I'm out and I won't be back.

In my experience it's gotten much worse the last 10yrs or so. Used to be a piece of cake. You only dealt with the FM to sign standard bank and MV paperwork at best.
I was about to walk out at one point when he started getting ugly. He was behaving as if I were ignorant for denying such "essential" coverage for a "negligible" price. He actually huffed and said "ok" in a condescending manner when I told him to take the paint and fabric package off the sales agreement. I'm glad I didn't though! No more Silk Blue Jettas within 200 miles!
 

gregk24

Thread starter
Messages
7,514
Location
FL, USA
The worst I've experienced was when I went with my grandma in 2016 to buy her Grand Caravan. The dealer required a 10 oil change package for $799 and required the paint sealant package for $300, and required the tint for $200. First of all, they had a flyer behind the salesman that advertised the same oil change package for $599. Second of all, paint sealant on a 2 year old prior rental white minivan? Third of all, you're telling me this van didn't have tint in PHOENIX already!? I made them take it all off.

She wanted to write a check for the whole thing, but they insisted the OTD price would be like $2,500 more. So she put $10k down and paid the rest off the next month.

Then we went into the finance manager's office. I had already written down the OTD price on my phone we discussed earlier. He mentioned something about an extended warranty, we weren't interested. Then as she's signing all the paperwork, he slips in real quietly "here's the platinum protection package". HE PUT IN AN EXTENDED WARRANTY! They had to shred everything and start all over.

Airpark Dodge Chrysler Jeep.
YES! The finance manager walked over begrudgingly and made a scene of putting the original paperwork in the shred bin. I rolled my eyes internally.
 
Messages
747
Location
USA
I've found if you set boundaries before each interaction with each person, it's usually tolerable. Let em know you don't play their snake oil upsells and you want the car for the price quoted, out the door or you walk. If they struggle after that, just go find another dealer.
 

gregk24

Thread starter
Messages
7,514
Location
FL, USA
I'm really beginning to love the VW/Audis. Great looking car!! Congrats!! What's that small Audi coupe I see every once in a while? Almost looks to be the size of an Accord coupe. There's just something about their styling which seems ahead of their time that I like.

Yes,always scrutinize and ask MANY questions. Question EVERYTHING a slick talking dealership tries to flim flam you with.

How would you compare your Jetta to your Accord in likability? I know nothing about VW's at all, but they've began to pique my interest, especially those small Audi coupes. Are they two seaters or 2+2s? I'd like another 2-seater.

The Jetta is the more comfortable of the two and more effortless to drive. Easier acceleration and more nimble than the Accord. It is also more isolated and quiet going down the road. However, driving the Accord you certainly feel more connected to the road, it has more feedback. Both have pro's and con's.

We love our VW's for their mature styling, good driving dynamics and the feel that you purchased a car above it's class.
 
Messages
10,965
Location
MA
I remember the last time I bought a used car at a dealership, was about 20k after taxes and other fees. Sat down with the F&I guy and he had about 10k in options that were available. I declined them all and I guess he wasn't that bothered by it, didn't try to slip anything in as it was a cash transaction. I was thinking maybe they thought I wasn't going to buy it as I didn't get any paperwork when I left just the total for the check. But I showed up a few hours later in the day with a bank check and got all the paperwork then. Maybe they thought they'd just sell it from under me so didn't try that hard.

Other times when I did financing in the past, I'd plug in the interest rate in a spreadsheet and make sure the monthly numbers matched up, I think once they tried to slip in a life insurance premium in the monthly payment and I had them take it out.
 
Messages
205
a finance manager is a salesman whos job is to sell you extra stuff. its their job to read the person they are sitting in front of. Any good salesman will not waste too much time on a person that they know won't buy it. They will look at your credit etc and just from that they will get a general idea on how to proceed. a few questions in the office will answer the rest. he can tell the soft ones and hard one. you will be surprised how much can be gleened from your credit report .

i always tell the guy that i am not going to buy anything except the vehicle. no need to be rude or get excited . just be calm. they usually say they need to give me the sell anyways because it mandatory so i let them do it. just say no thanks. they know there will be another fish right after you so they want to get it over with also. in general the more popular the vehicle , the less nego power you have in the finance office or sales office.

always look over the paperwork for " nuances" am point it out right there. once its signed its pretty hard to go back and change it. i once went with a freind to buy a Explorer. he wanted it that bad that he bought all the goodies the finance manager was selling. was all excited to get it and the finance guy could smell blood in the water. This person has an MBA from a good school and works at a tech company.

whne negotiating with these guy i never take it personal , unless they start making it personal . its just a transaction. don't like the terms walk away.
 

gregk24

Thread starter
Messages
7,514
Location
FL, USA
I remember the last time I bought a used car at a dealership, was about 20k after taxes and other fees. Sat down with the F&I guy and he had about 10k in options that were available. I declined them all and I guess he wasn't that bothered by it, didn't try to slip anything in as it was a cash transaction. I was thinking maybe they thought I wasn't going to buy it as I didn't get any paperwork when I left just the total for the check. But I showed up a few hours later in the day with a bank check and got all the paperwork then. Maybe they thought they'd just sell it from under me so didn't try that hard.

Other times when I did financing in the past, I'd plug in the interest rate in a spreadsheet and make sure the monthly numbers matched up, I think once they tried to slip in a life insurance premium in the monthly payment and I had them take it out.
Yep, I had a tool up on my phone which I was plugging numbers into. Used it during the sales transaction and in the finance office.
 
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