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BEAT CAR DEALERSHIPS FINANCE OFFICERS -Top 10 EXPERT Tips 2020 - "How to" Auto F&I, Loan Advi

Feb 27, 2020
Hi, I'm Kevin Hunter. Today I'm going to talk to you about the dealership

finance

office, their favorite strategies they like to implement, and the charging mistakes you can make before signing off on your next boat, since profit margins on new cars are tighter. As long as car dealers have many incentives to be creative when it comes to making money from you, the consumers, we fully recognize that it is not a crime to make a profit; However, many questionable methods and strategies are implemented and blatant lies are told, all in the name of making money. For many years, it has been car salesmen who have a bad reputation for being dishonest, however, the biggest liars and deceivers Of all car dealers sit in the

finance

office, the people who occupy this office are known as business managers, F&I managers, the finance man and even a

loan

officer, you will probably think this person is your friend, After all, you're finally done negotiating your car deal and this guy will help you sign for your car.
beat car dealerships finance officers  top 10 expert tips 2020   how to auto f i loan advi
When you were introduced to this person, you'll never hear a more brilliant report from a human being at any point in his life. It's called t or hand it over to the finance officer they will tell you that you are in good hands they will tell you that it is easy from now on and that nothing could be more Truth be told, you are about to face the most skilled salesperson. The dealer employs two simple rules to remember: the moment he meets with the finance officer or enters his office first, he is not obligated to purchase or pay for anything they offer at the finance office.
beat car dealerships finance officers  top 10 expert tips 2020   how to auto f i loan advi

More Interesting Facts About,

beat car dealerships finance officers top 10 expert tips 2020 how to auto f i loan advi...

No matter what they say, including additional dealer fees and secondly, the dealership owner forces the finance guy to sell him products to increase the dealership's profits. Everything you hear out of his mouth is to make money for the dealership. Many of them will say anything. and even violate state law to get you to add profits to the sale of the car, the process is designed to slow things down, wear you down, and get you to sign your name on inconsequential documents so they can get you to nod your head, yes, when you really it matters. let's start number one: rust protection, it is a proven fact that a new car rolling off an assembly line anywhere by any

auto

maker does not need rust protection;
beat car dealerships finance officers  top 10 expert tips 2020   how to auto f i loan advi
In fact, several

auto

makers void the factory warranty against corrosion and puncture if the car is not coated by a third party. The reason a dealer-applied undercoating is known to be quite simple, it plugs the designed drain holes and body panels, thus preventing them from getting rid of water accumulated from rain or other moisture exposure, When a body panel can't drain, no amount of coating in the world can save it. So why do dealers sell it anyway? A simple and huge dealer on the market applies an undercoat ranging from 300 to 1500 depending on the car and the type of treatment package they offer you, fabric protection number two.
beat car dealerships finance officers  top 10 expert tips 2020   how to auto f i loan advi
Many dealers will enthusiastically offer fabric protection. which is really nothing more than a can of commercially available aerosol that is applied by a minimum wage employee and then sold to you for 200 300 400 or even more John Nielsen national director of auto repair and purchasing in triple a states That automakers install high-quality interiors that incorporate materials and fabrics that should not have stain-related issues. If you still think you need that extra protection, all you have to do is buy a $10 bottle of Scotch. Spray it on yourself. Problem solved. Hundreds of dollars saved. three paint protection the sales pitch on paint protection is amazing, you'll hear something like this used in the aerospace industry and it provides superior shine all year round and protects against harsh environments sounds amazing right?
Paint Protective Sealant It can easily cost a new car buyer between two and four hundred dollars for the basic package and get up to one thousand or even two thousand dollars for the premium packages. Here's the truth: Today, car paints are durable finishes that benefit much more from regular washing and waxing than from Quince identifiers generally

advi

se against waxing or sealing a new car's paint for a period of weeks or even months to allow proper curing. Number four, then protection against itching or window theft. Next, engraving is a subject of much scrutiny and many lawsuits. many dealers no longer sell it and call those who do thieves or criminals, they are right at that point the engraving is nothing more than an adhesive template containing the vehicle identification number or VIN as they call it of your car, however , when the financier talks to you. about it, you will believe that the police will find your car with it, that it can't be uninstalled, that you have to pay for it, this is all nonsense, there are tons of claims about VIN etching and most of them are false, so why what do they sell it?
Again, pure profit window surrounds commonly sell for between $250 and $600, and unfortunately, most consumers have no idea they purchased them. For those of you who think you still need them, you can purchase the kit online yourself for twenty to forty. dollars and install it in ten minutes gap insurance number five gap insurance is one of the most abused and legitimate insurance policies in the automobile business that dealers try to sell to everyone and commonly include it in what they called preferred protection packages . This is what gaps the difference between the actual value of the vehicle and your

loan

balance, if by any chance you total your car with so many people being deceived by

expert

finance officials, it has become a common problem to have a loan For a car that is greater than its actual value, the dealer's overpriced gap adds up. to the inflated loan balance by stinging you for an extra $300 to $750 if you really need to talk to your own insurance provider you'll first find out they sell it for $30 to $35 a year, hopefully you're a little smarter than most car buyers and neither You don't even need gap number 6, Extended warranties are another commonly abused product as a dealer option, Extended warranties can be a good thing in some cases, but for a very limited number of buyers of cars starting at $1,000 they can easily go up to several thousand dollars here are the problems first the financial offices usually lie to buyers stating that the bank wants you to have one or they tell you that this is what most people do, they are lying and they are not taking care from you and Second, many guarantees are not worth the paper they are written on.
I have personally been involved in several cases where full coverage warranties only paid a fraction of the cost of repairs and, in some cases, the customer lost their vehicle, completely destroying their credit. The process is as much about prevention as opposed to regret, but this is what happens when you believe the wrong people. This is my suggestion. I have never purchased an extended warranty. I suggest you consider cars that have an excellent reputation for service. Have your car inspected before purchasing. Then, put a few dollars away in a savings account if you ever need them. I have never regretted doing this and neither will you.
For most people, these 3 easy steps will provide greater long-term protection than most extended warranty plans you'll find at a car dealership. A final note on extended warranties if you're watching this video and have had a great experience with a certain type of extended warranty in the past, please indicate it in the comments below so other car buyers can make better decisions. Knowing who the good warranty companies are is always good for people who think they need an extended warranty number seven, the ever popular document fees and delivery fees, when the finance guy can't

beat

you on other things, it's the fee of documents that increases and delivery fees that are added refuse to pay more than seventy-five dollars for a document fee and refuse to pay a delivery fee for any used car if it is a new car.
They demand to see the dealer's manufacturer's invoice on the car that likely included the delivery fee. the invoice price and is not an additional fee to the dealer, meaning he is not obligated to pay it. Don't let the dealer rip you off with shipping fees you don't have to pay and no one should ever pay more than $75 for a document number eight fee the finance guy repricing your car your trade or both before you sign out when her car deal was finally negotiated she thought it was over car buyers don't always think to check the numbers take nikki for example she was buying a used car for $22,000 she wanted two thousand dollars for her business but the manager she only wanted to pay a thousand dollars they finally relented and gave her the two thousand dollars after she left the dealership however she noticed a problem with her paperwork her business was listed for the two grand she asked for but the car she had just bought she went from twenty-two thousand to twenty-two 999.
Nice trick, she came back and they caught her lying, the dealership fixed what they said was a mistake made by the finance man. I'm sure you know this was no accident, you should always take notes during the negotiation phase and always check numbers nine, the finance office, changing your interest rate, your down payment, your monthly payment or the term of the loan, most people. You'll probably visit the finance guy two or three times the first time while he waits in the dealership showroom or sales office and you'll hear what a great person he is; he may have a follow up financial interview and then finally a meeting at the finance office, many promises were made during this, why would he easily change his interest rate or loan term?
There are many dealers who closed a deal, this means they also bought your car. Many bankers and dealers commonly try to look for banks that call them back better, which simply means more room to add products in the car offering. The bankers do nothing to discourage this because they know that the number one responsibility of the dealership's financial office is to make money for the car dealer listen to what I just said the dealership bankers know it is the number one responsibility of the car dealership's dealership finance make money for car dealership you need to check your interest rate the cash down payment amount the monthly payment and especially the term can be easily changed from a 60 month note to a 66 month note while adding products and maintains the expected card payment.
Clueless buyers get annoyed by this all the time and number 10, which is perhaps the worst trick dealers pull, is called the yo-yo payment trick or the take-your-car-home-while-we-finish-your-paperwork trick. The number one reason finance officials do this is to get you out of the car market, they promise you that only that is pending and you can take the car while the details are figured out, there are a lot of dirty tricks that real scammers do in the business. of the car but this is one of the worst dealers that do this and are subject to harsh penalties from the FTC but that doesn't stop them from doing it here.
What's happening? They tell you to take the car home while they finish the paperwork. They say they will call you to come back later and sign everything. I can't emphasize this enough. Never drive a car home if you haven't signed it. This is the In the so-called yo-yo agreement, you go home thinking that the financing has already been taken care of and that you will have payments of let's say 300 dollars a month, sometimes up to a week later, the dealer calls and says that so financing is approved, the payment must be $400 a month or they say you have to sign a different agreement because they changed banks or they confess that they couldn't get financing in any of these scenarios, you are screwed to protect yourself from the yo-yo scam .
Don't sign any agreements that include language such as subject to loan approval, only drive a car off the dealership if you never have to return. These are our top 10

tips

to keep in mind in the dealership finance office and an additional tip for those of you who have come this far none of the products or rates I mentioned arerequired by any legitimate banker for any car loan and no banker reduces interest rates if you purchase these products. Never forget that any banker who works with any dealership knows that responsibility number one. The goal of the dealer finance office is to make money for the dealers, and dealer banks do everything they can to help them do exactly what you need.
You should know that every day, as consumers become more savvy about dealership tricks, they come up with more ways to empty their pockets. Train daily for increasingly savvy consumers. Only good

dealerships

are honing their customer service skills. The rest are simply developing ways to trick you. Never go to a car dealership without doing your homework and never believe that. the finance person is your friend remember the two rules I mentioned at the beginning: first, you are not obligated to buy or pay for anything they offer you at the finance office, no matter what they say, including any additional dealer fees, and in Second, the finance person is obligated to The owner of the dealership will sell him products to increase the dealership's profits.
Everything you will hear from him is to make the dealership money. It has nothing to do with protecting or taking care of you, the consumer, for those of you who are hardcore car buyers. and you want to pull off an absolutely amazing stunt in the finance office, here's a great suggestion: bring a pocket recorder and ask the video to sign your papers. You'd be surprised how quickly you walk out of that office and hear a very different story: the moment they realize you can't get out of a scam, the criminals in the car business would disappear much faster.
More consumers recorded what happens in that finance office if you're watching this video after the fact and you just found out. If you find that you were scammed by one or more of these products, the good news is that you can always go back and cancel them. That's right, go back now and fix the deal with your car. It's not too late if you have a specific problem or question. not answered here please comment below we will do our best to provide you with helpful

tips

and

advi

ce if you made it to the end of this video and follow the tips I shared with you here.
I just saved you thousands of dollars and a lot of headaches on your next car purchase, thank us with a light. below and remember to subscribe to the channel. I'm Kevin Hunter, thanks for watching.

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