Re: I Can Help, I Run A Car Dealership
02-20-2012 08:24 AM
This seems so shady!!! By the way, do you do sales on new or used vehicles, and which brand do you primarily work with? Also, what do dealerships really think of "Cash" buyers.... if you are buying with cash, wire from bank or something similar.... is it best to keep this information to yourself until after you've haggled the price?
Hi webhopper! I am a General Sales Manager for a VW dealership. We sell both new and used.
Although dealers do more than their fair share of shady things, this one is on the up and up. Loans are another profit center for a dealer. They are able to secure financing for less than a customer that walks into a bank for the same loan. This allows the dealer to pass on the financing and still make a profit without any adverse effects on the customer. Again, this practice can be abused by an unscrupulous dealer, but banks in almost all cases only allow 2.5 points at max.
Cash is King is an outdated idea when it comes to buying a car. As I mentioned before dealers make more money when you finance. In most cases the dealer does prefer you finance. Not telling the dealer how you want to purchase your vehicle may hinder them from giving you a correct quote since rebates and incentives change between cash and financing terms. Most manufacturers will offer you special rate financing or cash incentives. Hope this helps
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