- Joined
- Jul 23, 2020
- Threads
- 11
- Messages
- 2,165
- Reaction score
- 3,260
- Location
- Denver, CO
- Vehicle(s)
- '23 4dr Badsquatch, ‘05 LJ & ‘17 F150
- Your Bronco Model
- Badlands
As someone who writes pay plans for GMs, Sales Mgrs & F&I for a large non-Ford dealer group, I can confirm these statements. I know what these folks make and where they make their $. That’s why my wife brings me along when it comes time to walk into the financing office for her vehicles lol. She’s getting pretty damn good with saying “no” and calling Sales Mgrs/GMs out and them turning red in the face lol. The best was when they made the mistake of walking her behind the sales tower to look at their screen. She embarrased the crap out the guy in front of his employees. I now just go with her for the entertainment!Chargebacks are a very real thing. Commissions, management bonuses, etc. are all calculated based on the profits made on the customers, including the loan markup. Afterall, the vast majority of the profits on a normal car deal come from the F&I office and not from the profit margin on the vehicle. Normally if the customer refinances or pays off the loan within 3 months of the loan origination the bank penalizes the dealership and that comes out of what they thought they had already made.
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