Car Salesman's Whole Vibe Changes When the Downpayment Hittin

[Rekkapryde]

You must of not been a good sales person then because 710 credit score is the same as 800. Banks have a simple tier system when financing, especially cars. 580, 620, 660, 690, 710. This saves dealerships and lenders time since thousands of people apply a day.

if the dealership has a good relationship with the lender could also call in favors (the guy has a 695 credit score, you usually need 710 to qualify for 0.9% but he makes 80k a year and past few years payments on time) and get it approved for lower rates etc.


Absolutely no difference between say someone with a 713 credit score and someone with a 802 credit score applying for a car loan.


Credit also isnt 100% deciding factor. We have denied high credit score people with low credit history and low income before.

"We"

You sold cars breh!

 

[itsyoung!!]

"We"

You sold cars breh!

I been talked about this but yea unfortunately

 

[Rekkapryde]

I been talked about this but yea unfortunately

point me to the thread.

how much were you forced to conduct

 

[itsyoung!!]

point me to the thread.

how much were you forced to conduct

Well I worked between 2 of the worst areas in Richmond California in 2010 when it was the cali murder capital we wasnt on that hype there


I know bout them 12 hour days sun up to sun down

 

[Thatrogueassdiaz]

I posted pics of my M4 and M3 on this board after I bought them. I'm not a broke nikka like you...

You sound like a fukking clown

 

[feelosofer]

You must of not been a good sales person then because 710 credit score is the same as 800. Banks have a simple tier system when financing, especially cars. 580, 620, 660, 690, 710. This saves dealerships and lenders time since thousands of people apply a day.

if the dealership has a good relationship with the lender could also call in favors (the guy has a 695 credit score, you usually need 710 to qualify for 0.9% but he makes 80k a year and past few years payments on time) and get it approved for lower rates etc.


Absolutely no difference between say someone with a 713 credit score and someone with a 802 credit score applying for a car loan.


Credit also isnt 100% deciding factor. We have denied high credit score people with low credit history and low income before.

Someone gets it. My cousin was a cop and had a 550 credit score but he never missed his payments ans still got a decent deal on a QX60.

 

[Icantspell]

good luck getting a discount in this market

 

[Son Goku]

Im not talking about manufacturer incentives. And those often require you to finance anyway. Still thats not what im talking about. Youre moving the goalpost and presenting two different deals. All things being equal, the dealership will make MORE money off a car they financed vs that same car with cash. Nowhere did I say they will turn a cash deal down. I said they prefer a financed deal through their vendors because your cash deal (or independently financed) will not allow them to receive their vendor incentives (not talking about the manufacturer incentive for the buyer)

Neither was I.


Manufacturers offer dealers and salesmen incentives for selling certain cars/trim levels; these bonuses often change from month to month.


Ex: In May any new Corolla that sells gets an extra 300 straight from Toyo, regardless of what the car sold for, or any dealership that moves 15 Camrys gets a $2k incentive bonus, etc.


(This is how you can make mini deals or even losers as a saleman and still eat, although holding gross is obviously better.)


nikkas that obviously never sold cars before in their lives in here spitting advice and telling me how the business works.

 

[Son Goku]

good luck getting a discount in this market

I picked up two new whips since Sept of 20, one at 14 below sticker and one 3k below. Also had the bro cop one at invoice in June of 20.

 

[Son Goku]

You must of not been a good sales person then because 710 credit score is the same as 800. Banks have a simple tier system when financing, especially cars. 580, 620, 660, 690, 710. This saves dealerships and lenders time since thousands of people apply a day.

if the dealership has a good relationship with the lender could also call in favors (the guy has a 695 credit score, you usually need 710 to qualify for 0.9% but he makes 80k a year and past few years payments on time) and get it approved for lower rates etc.


Absolutely no difference between say someone with a 713 credit score and someone with a 802 credit score applying for a car loan.


Credit also isnt 100% deciding factor. We have denied high credit score people with low credit history and low income before.

Believe what you want.

Never said credit was then end all be all for getting approved, but with no money down a stronger score is always better.

An 802 and 713 are the same for determining interest rates?

But this is the coli so everyone is 6 figs and doesn't even need credit.

 

[Wildin]

Yeah I can tell you ain’t never buy a car or dealt with a car dealership in your life…

How do you think they make a profit? It definitely ain’t how much cash buyers they have.. all of their profit is tied into bank loans where they can negotiate the interest rate with the bank based on your credit… If you 760+ gang they basically giving you an interest free loan aka FREE money… So smart money ask why are you using your cash to buy a depreciating asset when you can use the bank money to do so? Smarten up Nas, mofos like you coming to the dealer with all cash they feast on dudes like you and overcharge you for a car you can get a discount on 9 times out of 10 just buy throwing the dealership a bone and taking out the loan with them..

Dealerships dont want cash deals my guy. They make more money off you financing the car. They will only cash deal a car that they want moved off the lot thats been sitting too long.

Buying new from the dealer straight cash?? You gotta be a dealer yourself.

If you're paying all cash you're doing it wrong, build your credit score up dummies

What if you just want the car outright

Yeah you never pay sticker.

And be ready to walk.

The dealer gets a bag regardless.

When I bought my SUV, I went through the whole loan, 0% Apr, they had a no payment for like 2 months and all these deals and specials.

I told them "This is the one I want" ....I told him I want 10 off the top he literally laughed, in my face. And stood up to walk away and I'm like "I'm talking cash today! Like right now, one and done." He was like "wait.....what....."

Breh went and talked to his manager....came back and was like " you for real? If so imma get a bag off this, I'll owe you dinner (back story we know some of the same people just never ran into each other).

Long story short, he went home with like 5gs, I walked out with 10gs off sticker, and a warrant that was still valid when I got rid of the whip 5 years later, used the money from that and got something else.

There was the bk financing book that tells you how to do this. You basically buy one good car and flip it years later, no loans, no lease....you can do a minimal lease but you want to keep whatever payments under a certain percentage of your yearly income so if you make 12 payments you still want those payments to be under like 20% of your annual income. And still be low as far as a debt to income ratio.


One of the great things to actually take away from this forum. Dude was all about " well you can afford it, just pay a little bit, just a little bit....you won't even notice it....."

The game works.

 

[itsyoung!!]

An 802 and 713 are the same for determining interest rates?

Yes.

 

[Son Goku]

Yes.

That was rhetorical.

And salesmen don't usually determine whether to push an applicant through or not, so my skill as a salesman had nothing to do with that.

Again, nikkas that never kept a spin doctor in their desk in this thread talking nonsense.

 

[BigE214]

Damn I’ve never bought from a dealership before.

My credit is in the early 700s. What would be a good down payment for something like a new Accord or Civic?

$0

for every 1K you put down you can take $20 off your monthly payment