It wasn’t that high, when we got our Tiguan it was 785? Something around there. I watched the dealer do everything they could to get people in the program.
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Finance manager experience...
- Thread starter gregk24
- Start date
Probably worked the same as mortgages. We had a mortgage arm at one point. Basically you could make money multiple ways. The bank paid a fee if you could get them into a higher rate mortgage. You also got your commission if they made the first few payments. They had a clawback provision and it kicked in if the loan got paid off within a certain amount of time, typically 2-3 months. I suppose that would also apply if you didn't make any payments. Had to be a good loan after a couple months. Your commission was based on a percentage of the loan so the more you borrowed the more the guy made. Probably why the F&I guy wants to sell you as much stuff as possible.
I did buy a warranty once on a TV, the guy was pushing it hard and I asked him how long I had to have it before he got his pay. Told me it was one month and the warranty was refundable if you wanted to cancel in a year. So I did him a favor and held it for two months before canceling.
The VW/ Audi sedans are close in size to each other. The Audi A3 is the smaller than the Jetta. The Audi A4 is smaller than the Passat. Both VWs have better rear seat head room. In my area I tend to see more A4s than A3. The A5 coupe is essentially a two door A4
I love the clamshell hood on my A4
I typically finance through my FCU but will give the dealer a shot at getting me a better rate. I lie my ass off to the F&I guy during his spiel at the end. My dad has been a Honda, Ford, Nissan, and BMW master tech and my uncle happens to own a parts distributorship for all those brands in Kansas. Of course this is not true my dad is a retired copy writer and my uncle is a retired mail man.
A Finance Guy trying to sell you extra stuff. What the "News" here? Guys who buy VWs must crave attention.......How many more threads are we going to get from the original one?
Let me make a suggestion: I just bought a new Jetta what oil should I use?
Let me make a suggestion: I just bought a new Jetta what oil should I use?
I let the F&I guy think he got us on the 5.9% APR. Punked him by moving some money around and paying it off in six weeks. There's always refinancing if one thinks they can do better than the dealer. Just make sure there aren't prepayment penalties.
1. There is an A$$ for every seat.
2. Salesperson would rather sell used cars vice new cars. With new cars, every dealer has one just like it. With used, he is the only one with that car.
3. Biggest fear at a dealer is that the customer will walk out and go to dealer down the street.
4. Sales people never really have a day off. If they have to deliver a car on their off day, they still must come in for delivery,
5. Dealers not only screw customers, they also screw salespersons. Sales people have to watch their sale like a hawk, or the dealer will find any excuse to not pay the sales guy his commission.
2. Salesperson would rather sell used cars vice new cars. With new cars, every dealer has one just like it. With used, he is the only one with that car.
3. Biggest fear at a dealer is that the customer will walk out and go to dealer down the street.
4. Sales people never really have a day off. If they have to deliver a car on their off day, they still must come in for delivery,
5. Dealers not only screw customers, they also screw salespersons. Sales people have to watch their sale like a hawk, or the dealer will find any excuse to not pay the sales guy his commission.
Sounds like you were in the business at one time. When I was much younger, I was.
Everything you stated is the absolute truth.
Yeah, when I think about it, the lender isn't going to loan $10k for a car worth $6k either.
My son was in the business for a while at a Toyota Dealership-it seems no matter what the new car was-the deal was always a "skinny" and he got a $100.00. I think one guy sold a (once a year) Land Cruiser and got $150.00.
and you had to through all this nonsense for a barely noticeable blemish on the paint. oh my. you must be bored to the teeth.
So wasn’t 0% financing available?
VW wouldn’t honor it with the $15% off MSRP.
That makes a difference.
Not a big one. 15% off MSRP is much more significant.
Today the profit margin is a lot smaller than a few years ago. Dealers really do not make that much on the sale of a new car. The finance guy is the profit center for dealers today. They are under pressure to make the dealer as much as they can. And the good ones make a lot of extra money on the deal.
You have to watch them like a hawk. As people have said they will usually try to slip something in somewhere.
You have to watch them like a hawk. As people have said they will usually try to slip something in somewhere.
He's their best, toughest salesman, the cleanup hitter.
It was 750 when I sold cars. I watched the F&I managers do everything they could to swing people out of the program. LOL They made nothing from financing a car during those days if the interest rate was 0%. Don't get me wrong people rolled out of there with the 0% rate, and a lot of people with scores over 750 didn't. They knew who he could work and how. As I said knowing your score before financing a car can be of help. The people that got screwed out of the program the most often had scores from 750 to about 765, and didn't know it.
