Finance manager experience...

Messages
451
Location
Rochester, NY
When they start talking about financing, I just ask "Will you take a personal check, or do I need to go get a cashier's check?" Usually shuts them right up.
 
Messages
2,725
Location
Central NY
My truck I simply got a pre auth from my credit union.
handed it to the salesman and they received the funds within sixty minutes via ACH
 
Messages
7,554
Location
California
A good F&I manager will make a lot more profit than the sale of the car, even used cars which make a hell of a lot more money than a new car does. They often pack a deal, especially when the customer has poor credit
The local Toyota dealer does this even before sale. They’re packing on paint & fabric and a markup, both fairly common things but it’s on an addendum sticker so no bargaining out. When I worked at the local Honda dealer, I had to walk past F&I to drop off cars in the delivery area, I would hear F&I hustle everything under the sun.

Apparently, Uber drivers make up a good chunk of their business from my observations of their service drive and seeing pre-pandemic, the amount of Ubers with their dealer plate frames on. At the Honda dealer, they made a big push for subprime customers to come in, the used car manager would buy a hauler full of ex-rental cars and the finance office spends a little more time with certain customers to secure financing.
 
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.
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.
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.
 
I had a bad experience with the Finance manager. I have been buying cars for over forty years (Yes, I am old)
I just say NO to every question, with the newest being Auto Butler. The manager was seeing I was not
going to fall for any scams, then he said "if you were my parents I would want them to get all the
packages." You mention parents? You have crossed the line! As I was leaving I told the Sales Manager
I will never shop there again .I will never deal with that finance guy again, I have been back there again
and I was able to get a different Finance guy.
 
Messages
17,592
Location
Upper Midwest
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Hmm.
 
Messages
788
Location
CA
Man - I feel pretty lucky with my recent VW experience. Zero hassle, answered my questions. No annoying upsells. They reviewed everything with me before printing the contract and then went over everything again.

I think the comment about credit score is pretty close. It was “let’s check you credi…. Oh. What rate and term do you want.” Very smooth from there.
 

Zee09

Site Donor 2021
Messages
5,222
Location
Fairhill Maryland
I'm a bit more jaded these days.
I won't go back to a dealer that uses a bag of tricks like that.
Once I find a good dealer I can trust only they get my repeat business.

I no longer enjoy the cat and mouse BS.
 
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