I straddle the fence on this issue. As a former F&I guy for many years at a Chevy/Buick/GMC/(and then) Pontiac store, I can tell you that working a deal isn't as simple (or easy) as those outside of the business thinks it is. Now, with that being said I'm not advocating for completely taking advantage of a customer (everyone has their own moral compass) but sometimes, the amount of work it takes to get a deal hung with a lender, especially if a customer is hellbent on getting a certain vehicle, has to count for something.
F&I isn't as simple as stroking a keyboard and clicking a mouse, especially in the subprime segment that I was playing in. It's a lot of work, late nights, and not always are people truthful in the info they provide so the job comes with its own form of investigative work that takes a heck of a lot of time.
Keep in mind that we're trying to please a lot of folks...first and foremost the customer, the dealership/owner has set guidelines and targets that is expected of you as the F&I guy, the sales manager (new or pre-owned) has their own limits and limitations, the bank calls the shot on LTV, you have to make sure your look to book ratio is in order or your lender representatives will cry to you. You're a compliance officer. You have to make sure every "i" is dotted and "t" is crossed as the documents you handle and legal and binding. This is especially important as you can bet your last dollar that at some point someone is going to cry to the attorney general about being mistreated in some way or claim your place is a site for predatory lending which can (and often does with enough complaints) lead to an audit. And after all is said and done, you still have your own paycheck to make - after all everyone goes to work to make a living.
I said all of that to say this...it's not as simple as you think. Not everyone who says they've been taken advantage of is truthful. Buyers remorse doesn't equal predatory lending; in my experience that's usually where the term predatory lending starts - one has gone home or spoken to someone, or done their Internet homework AFTER the deal, and no longer wants to accept what they've already agreed to.
Are there bad F&I guys out there?...absolutely. Are people taken advantage of?...sure enough. Will it ever stop?...Nope. What can one do? The best advice I can give you is to do your due diligence before ever stepping foot into a dealership. Good, bad, or no credit...you still have to do your part to educate yourself. There are a number of Internet resources that can educate you in just about every way on how to buy a car and what to look out for. If one fails to do even the slightest amount research then in my opinion, they've kind of played into their own demise once they walk through the doors.
