bad credit car loans?
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Joined: Dec 2002
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From: Overland Park, Ks
Originally Posted by John@Victory
and you arent exactly on par with your info. lets see, many will let you hold up to 3 points. and almost all will let you hold 2 points. we use 60 different banks and i can think of none of our sub-prime banks that dont let us hold ATLEAST one point of rate. and like a stated before most will let you hold two to 3 points
And yes I knew what I also talking about, after 11 years in the car business and 4 years in finance.
even if he put down 50% he is still going to be in a high interest loan.... only difference is a reputable bank will prolly pick him up and charge the high interest instead of a secondary lender... say he got nissan tier 3 he will still be paying 12+%
Originally Posted by duc996
I never said that the dealers don't mark up rate, if you re-read the post I just stated that the dealers don't make up rates.
and the difference being?
if you arent giving buy rate then you are still "making up the rate"
youre just being limited to how much you can mark it up....
Registered User
Joined: Dec 2002
Posts: 145
Likes: 0
From: Overland Park, Ks
Originally Posted by John@Victory
and the difference being?
if you arent giving buy rate then you are still "making up the rate"
youre just being limited to how much you can mark it up....
if you arent giving buy rate then you are still "making up the rate"
youre just being limited to how much you can mark it up....
With my pay plan I make more money selling at buy rate and taking a flat if the customer purchases a warranty.
Originally Posted by duc996
The difference being lenders set the rates and the finance offices are allowed to mark up the rate. Depending on what the lender cap is.
With my pay plan I make more money selling at buy rate and taking a flat if the customer purchases a warranty.
With my pay plan I make more money selling at buy rate and taking a flat if the customer purchases a warranty.
there is still no difference... you are still making up a rate no matter how you slice it or dice it if you arent giving them the banks rate
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