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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231077
10/30/24 01:27 PM
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Joined: Nov 2022
Posts: 5,490
Grasshopperglock
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If you think the salesman is aggressive. You ought to see their boss. The sales manager.
Wanna see some pressure to make the numbers? General manager.
His boss....the high sheriff of the dealer?....the comptroller.
After that it's the big dog. The guy who owns the place. His name is on the door.
Last edited by Grasshopperglock; 10/30/24 01:28 PM.
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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231080
10/30/24 01:29 PM
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Joined: Jan 2010
Posts: 7,367
Dognot
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What pisses me off is when the sales manager comes out on the lot to try to close the deal.
As God as my witness, I thought Turkeys could fly!............. Arthur Carlson........WKRP
Money can buy you a fine dog, but only love will make it wag it's tail............Pistol Pete Maravich
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Re: Life At A Car Dealership.....
[Re: Dognot]
#15231103
10/30/24 01:47 PM
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Joined: Jun 2020
Posts: 14,983
grandbassslayer
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What pisses me off is when the sales manager comes out on the lot to try to close the deal. Well it’s a broken model- salesman have zero power to make an actual deal from what I’ve seen so they are basically there to educate you on vehicle features and be a messenger of the sales manager. The problem is most folks know more about cars than salesman anyways so I don’t even see the point of dealing with them.
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Re: Life At A Car Dealership.....
[Re: Grasshopperglock]
#15231128
10/30/24 02:00 PM
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Joined: Sep 2005
Posts: 28,923
Brian Spagnola
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Dodge dealer in Temple.
Finance manager routinely ran 2-3 extra points on the interest rate. Bank would buy the note at say 7%. The finance manager would add 3 and would slide the paperwork across his desk and people would gladly sign it. Any points over the bank buy rate was free money. Lots of free, glorious, money. To be fair, only 25-30% of the spread of the finance reserve goes to the dealer.
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Re: Life At A Car Dealership.....
[Re: grandbassslayer]
#15231131
10/30/24 02:01 PM
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Joined: Sep 2005
Posts: 28,923
Brian Spagnola
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OP
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What pisses me off is when the sales manager comes out on the lot to try to close the deal. Well it’s a broken model- salesman have zero power to make an actual deal from what I’ve seen so they are basically there to educate you on vehicle features and be a messenger of the sales manager. The problem is most folks know more about cars than salesman anyways so I don’t even see the point of dealing with them. Believe it or not, they spent a lot of money to get you into the dealership. The sale manager at a franchise store is for sure going to ask if they are missing you somewhere and try to put something together.
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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231132
10/30/24 02:02 PM
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Joined: Nov 2022
Posts: 5,490
Grasshopperglock
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Dodge dealer in Temple.
Finance manager routinely ran 2-3 extra points on the interest rate. Bank would buy the note at say 7%. The finance manager would add 3 and would slide the paperwork across his desk and people would gladly sign it. Any points over the bank buy rate was free money. Lots of free, glorious, money. To be fair, only 25-30% of the spread of the finance reserve goes to the dealer. Hey, that's all the, 'Back end'. As long as I got my cut. I wasn't upset at the finance manager.
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Re: Life At A Car Dealership.....
[Re: Grasshopperglock]
#15231136
10/30/24 02:05 PM
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Joined: Sep 2005
Posts: 28,923
Brian Spagnola
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Dodge dealer in Temple.
Finance manager routinely ran 2-3 extra points on the interest rate. Bank would buy the note at say 7%. The finance manager would add 3 and would slide the paperwork across his desk and people would gladly sign it. Any points over the bank buy rate was free money. Lots of free, glorious, money. To be fair, only 25-30% of the spread of the finance reserve goes to the dealer. Hey, that's all the, 'Back end'. As long as I got my cut. I wasn't upset at the finance manager. Im talking about the 2 points you were referring to, not the total back end profit. Finance manager only get's 16% cut of that now days. Adds up quick if you are selling 100 vehicles a month that are 75k vehicles. Not so much on cheaper vehicles.
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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231141
10/30/24 02:07 PM
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Joined: Nov 2022
Posts: 5,490
Grasshopperglock
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Joined: Nov 2022
Posts: 5,490 |
Dodge dealer in Temple.
Finance manager routinely ran 2-3 extra points on the interest rate. Bank would buy the note at say 7%. The finance manager would add 3 and would slide the paperwork across his desk and people would gladly sign it. Any points over the bank buy rate was free money. Lots of free, glorious, money. To be fair, only 25-30% of the spread of the finance reserve goes to the dealer. Hey, that's all the, 'Back end'. As long as I got my cut. I wasn't upset at the finance manager. Im talking about the 2 points you were referring to, not the total back end profit. Finance manager only get's 16% cut of that now days. Adds up quick if you are selling 100 vehicles a month that are 75k vehicles. Not so much on cheaper vehicles. In 2004...salesman made $2000-$3000 A month. Sales manager, $15000. Finance manager ~$25000. Nobodies kids are going hungry.
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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231158
10/30/24 02:15 PM
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Joined: Sep 2005
Posts: 28,923
Brian Spagnola
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No body is paying anyone like that anymore. Sales manager at a franchise store I would say is making 8500-10000, finance making 10-12500 and GM is making 25000-30000. They are all owned by big dealer groups. They don't pay like the use to. For 10-12k per month it's a lot of hours, and TONS of stress for sure.
If you asked 100 used car managers what the one thing that stands out about used car market these days the majority answer would be "The race to the bottom". Having a lower price than your competition to get people in the door.
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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231163
10/30/24 02:18 PM
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Joined: Nov 2022
Posts: 5,490
Grasshopperglock
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Mac Haik. Floor of ten salesmen. Two finance managers.
The big money was internet sales. Commercial sales. Folks would think the place was selling 5 cars a month. When really it was 45 a day. 75 on a weekend.
But I agree. It was a later golden age of knocking the head off Dodge customers.
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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231168
10/30/24 02:22 PM
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Joined: Jan 2005
Posts: 20,592
Pat Goff
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I buy my vehicles through carguru. Everything is done and finished before I show up. Their opportunity for nonsense pretty much goes to zero.
Pat Goff Seadrift TX
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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231172
10/30/24 02:26 PM
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Joined: Nov 2022
Posts: 5,490
Grasshopperglock
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I've never bought a new car in my life. Oh Hell No.
My ride was paid for in cash. No finance nothing. Out the door price, give me the keys, and leave me the hell alone.
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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231174
10/30/24 02:29 PM
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Joined: Apr 2008
Posts: 43,962
CCTX
mapquest
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mapquest
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Re: Life At A Car Dealership.....
[Re: Brian Spagnola]
#15231178
10/30/24 02:31 PM
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Joined: May 2007
Posts: 43,926
WAWI
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I tried to get my daughter to use carvana, I may try it on next truck but I usually buy new
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Re: Life At A Car Dealership.....
[Re: WAWI]
#15231182
10/30/24 02:35 PM
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Joined: Nov 2022
Posts: 5,490
Grasshopperglock
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I tried to get my daughter to use carvana, I may try it on next truck but I usually buy new Problem is. Their prices might be $3000-$5000 below cost of brand stinking new and with 30k on the clock. You can buy from a dealer and not get hurt. Just ask for flat financing. No extra BS. Knowing you could have taken $10k of the deal. Placed in a pile and burned. You're never going to beat the house. Never.
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