How To Deal With The So Called Automotive Finance Manager
Every Dealership has their own finance department and they call their finance people different things but usually give them the title of Finance Manager although plenty of times they are basically a nice salesperson that they sent to Finance and Insurance School to learn to sell the financial products and be licensed to do so. These people are well trained to take your money so you need to be on your guard, regrettably plenty of people think the danger is over one time they get through the sales method. Nothing could be further from the truth.
The finance office is where they go after the back finish add-ons like warranties, paint protection, rust proofing, and other virtually valueless items that add profit to the dealer’s bottom line. This is in addition to ripping you off on the finance rate.
Plenty of dealers these days depend on the back finish profits because the front finish profits are getting harder to maintain with increased competition. They will take a “short deal” on the front and make it up by making a killing on the back finish.
This is another reason why you need to know all you can about the automobile you intend to buy. One of the largest scams they will pull on you is to keep the rebate in case you don’t know about it. Give it some thought, if the automobile you are taking a look at has a ,000 rebate and you don’t know about it the dealer can have you sign a form and keep the rebate as profit in the deal. Some cars these days have rebates as high as six thousand dollars. Would not it make you sick knowing you gave that away?
Another thing they will try to do is switch you to a lease. Watch out for this; there’s even companies that will lease late model used cars these days. In case you are not prepared and haven’t got all the knowledge you need in order to negotiate a nice lease deal don’t even think about it.
Don’t buy packages like rustproofing, undercoating, and paint protection from the dealer. You can get it less costly in case you pick you need it from other sources, Dealers mark these up astronomically and you don’t need to pay the cost.
Another thing they will try to push is the extended warranties and service agreements. Don’t buy these either. New cars come with great warranties these days and they are built well. These extended warranties are a waste of money.
Qoute: Finance, Manager