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Frequent Contributor
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Registered: ‎08-29-2011
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Re: Chase White Card?


Jlu wrote:

Hold on just a second. I own a car dealership nevermind being a General Sales Manager and I don't make $35k a month.Trust me, there are no GSM's that make $35k a month, the owners would never let that happen. Industry standards have GSM's making around $100k/year which is a little over $8k/month. If he made $35k/month that would be $420k/year - say that in your head a few times and let me know if you still believe that. I know Ernie Boch Jr., the billionaire who owns both the top-volume Honda dealership in the world and top-volume Toyota dealership in the US and his GSM's don't make more than $200k/year. I'm not calling you a liar, perhaps you are misinformed, but as an industry insider I need to make a BS call here.

 

EDIT: Oh and I wasn't bashing in my previous post, just adding a little humor to the thread as I tend to do often.


Jlu, then the GSM's you know don't make enough money lol. I almost make that in a year and I'm just an internet manager.. Yes, he does indeed make 20k salary and 15k in bonuses (earnbacks from the manufacturer and in house bonuses), which if my calculator is correct = 35k. Why would I make this stuff up? Everything that I have written I have seen with my own eyes, besides the freaking Chase White Card. Trust me, my GM/part owner makes a lot more than that. We sell over 1,000 new cars between our 4 stores and are privately owned. Just because you don't make that kind of money, doesn't mean others don't :smileyhappy:


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Re: Chase White Card?

1,000 new cars per month?

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Re: Chase White Card?

Yes sir, between the 4 stores..


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Re: Chase White Card?

[ Edited ]

I'm guessing that must be a mix between new/used. I don't know anyone in the business averaging over 58 new cars a week every week out of one store. And even if it is a mix of new/used I still don't believe it. Although this is the internet where cats with pop-tart bodies can fly while sh!tting out a rainbow.

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Re: Chase White Card?


Jlu wrote:

I'm guessing that must be a mix between new/used. I don't know anyone in the business averaging over 58 new cars a week every week out of one store. And even if it is a mix of new/used I still don't believe it. Although this is the internet where cats with pop-tart bodies can fly while sh!tting out a rainbow.


Nope, 1,000 just new, used we probably do only 150-200 between the 4 stores, not a lot. Bottom line is, I don't need you to believe me lol. But please check your facts before calling others liars.


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Re: Chase White Card?

For him to make 35k a month from his investments and his portfolio is around a million you said he would need a average return of around 40%. Even if his portfolio was 6 million it would have to average of around 7%.
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Re: Chase White Card?


TM82 wrote:
For him to make 35k a month from his investments and his portfolio is around a million you said he would need a average return of around 40%. Even if his portfolio was 6 million it would have to average of around 7%.

+1. The math just doesn't add up, which leads many of us to believe it's not accurate. The numbers just don't make any sense whatsoever to anyone who is "in the know".

 

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Re: Chase White Card?

Why is everyone such haters on this post! Hahaha
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Re: Chase White Card?


bribro wrote:

Personally, I think your boss/manager is full of it. First of all, $1M in investments at JPM is nothing; people with $10M get turned away as clients. I think he's lying about his credit limit and the AF reduction. The white card thing I know for a fact is not true.


The $250K credit line could be secured by his investments. 1M in investments could be held at either Chase Private Client ot JPM Securities.

 

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Re: Chase White Card?


sjt wrote:

bribro wrote:

Personally, I think your boss/manager is full of it. First of all, $1M in investments at JPM is nothing; people with $10M get turned away as clients. I think he's lying about his credit limit and the AF reduction. The white card thing I know for a fact is not true.


The $250K credit line could be secured by his investments. 1M in investments could be held at either Chase Private Client ot JPM Securities.

 


According to post #1, only half of his investments are with JPM. 500k will get you into CPC but not PB. I'm inclined to trust bribro more than his boss as he works for JPM.

 

Regardless, it still doesn't add up and I stand by that.

 

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