bingo!

Dont be like all the other suckers who i lump, i mean protect.

Just so you guys know, wells gap costs a dealer $325. Gap is a definite profit center as they bank allows a full 200% ltv so i can sell it fopr basically whatever.

Gap is sold here for 650, but its negotiable.
It normally equates to like $7 a month in financing. buy it for ffs

The bit about house vs car loans came directly from a finance person I had to deal with last time I went to buy a car. I was pretty shocked that someone who say something so blatantly false.

the dealer is going to make money off you, profit is NOT a dirty word.

Everything you buy, someone is lining their pockets with that money.

They are going to make a little on the car, a little on finance, and a little on warranty if they can. These days with the internet and all its almost impossible to get lamped by a dealer unless you're just ******ed and dont know anything at all about cars at all.

If the car you buy has a remaining bumper to bumpr warranty for an extended perod of time, and a remaining power train, dont buy anything except gap insurance.

If you have no bumper to bumper then i recommend a 2 year unlimited warranty. will cost you between 1500-2000 depending on the manufacturer

im want to make on last point on gap because even though you may not see it play out, we certainly do.
If you do a wells fargo deal and you finance over $30,000, and put down less than 15% of that, not buying gap will cost you 2 points in interest rate.

So protecting yourself and the bank costs you not 350, but over the course of 30k roughly 2k by taking a 5.9% rate over 3.49% which you would have received had you gotten gap.

yea that would annoy me as well.

its not any diferent then customers who are d bags and think badly pof car dealers, and what i do. I really would just like to tell them i likely make twice what you make as a lawyer or whatever the f you do, and i also graduated from the ivy league so take your BS elsewhere.

point is youll have morans in all fields, not just f and i managers lol.

Yea from a person who works in total loss for an insurance company, I can tell you, you are stupid. If you check your car nada price before you purchase it and make some down payment, you should never have this problem. Only ones I've seen having this problem are people buying brand new models at a terrible price or those with insanely high interest rate.

I want to weigh in on this whole GAP thing. First, it is not just people that buy new cars.

GAP IS for suckers. Unfortunately, most people are suckers and need GAP. Most people put themselves in a terrible financial position. They rack up unnecessary CC debt, they buy cars that are more than they can afford, and they do that by rolling in the last ****ty car that they could not afford.

Probably at least 40% of the people buying cars could not afford to stroke a check for $3-$5,000 if their car gets totaled and it would put them in a very bad position.

So if you are already a sucker and have bought into consumerism and filled your life with crap you don't need and cannot afford, you should protect your self against the worst case scenario, because if you don't and that happens (which it does happen) you will end up in a seriously bad spot.

lol in a vacuum yes you're right, bunot everyone has credit, and very few have any substantial money down.

I would say 90% of all deals are 0 down and rolling in 3-4k in inequity.

People in that situation that dont buy gap are dumber than dirt, period.

Of course if you have perfect credit and put down 20% of your loan by all means, dont buy gap. IN fact if you were in a situation where it wasnt needed i wouldnt offer it anyway.

agree with this completely. Its a necessary evil, simple as that.

Just like sub prime financing, tripplej this wouldnt apply to people with such lofty life practice as your self, master of th universe if you will.

*rolls eyes*

so this thread has gone down the nittery hole of ridiculous I see. how gap has been drawn into a discussion of used cars, along with people wanting to buy extended warranties and other NEW car plans is just typical moronic bleating. but it does fit for the idiotic thought process of expecting all the benefits of new, for the price of either well used or low demand.

as for the life fish comments, pulease. the world works they way it does BECAUSE people buy things, and here's a news flash, things are worth LESS than you paid for them. reality is a hard topic I suppose.

I don't know if this was directed at me, but the world worked fine before people got into massive debt that they could never and will never crawl out of. People buying crap they don't need is one thing (I have plenty of crap that I could do just fine without) but people should not be buying crap they don't need and cannot afford. If you have $10,000 in CC debt you DO NOT need a new flat screen TV.

I agree that the thread has turned down a less productive path. So let's change the subject. How about how more people should be leasing cars and how it is a great way to save thousands of dollars while limiting your liability

I've never really understood the 'credit is made available to people to purchase things they can't afford' = 'people are forced into debt they can never get out of' mentality. Even if you are a complete tard and get into an awful financial position you can wipe the slate clean, legally, and the only consequence is the inability to get credit for 7 years, which may well be a good thing if your problem is the inability to use credit responsibly.

car salesman are the worse..... its always the BS they give you etc. Funny story couple of years ago I went to lease a car i went to 3 different dealerships and the best deal i got was the last dealership, the salesman is like this is the best deal bla bla bla (to be honest it was the best deal i seen at all the other dealerships) I tell the salesman ill be back just want to discuss it with my family the salesman turns around and says "your just like the rest of them your all talk and your not going to come back" i laugh and say no I will im a man of my words" he says to me " save us the time i know your not coming back your words are all BS if you were serious you would lease the car now arent you a man why would you need to discuss it with your family" at this point i dont know why i completely snapped (maybe it was the disrespect, him calling me a liar, or him trying to play the "sales game" and basically call me a pus*y). I stood up from my chair, got all red in my face and i started to curse him out apparently i was pretty loud cause i saw the manager run over and say sir is everything alright i wound up cursing out the manager as well (not as bad as the salesman)... anyone every experience a fight verbal or physical with the car salesman?

You know why he said that? Because customers are liars. People are rotten and almost no one holds to their word anymore. A sales manager I had one time actually had a customer that told the dealership that his daughter was just diagnosed with cancer to get out of a deal that he agreed upon. He was lying, probably to save $100.

You might be right that car salesman are ****ty, but that's only because they have to deal with the worst scum of the earth, the average joe customer.

Is the mileage on a lease negotiable or is that fixed by the manufacturer? Most of the ones I see allow 15k a year but I drive about 75 a day highway so which obviously wouldnt work.

buyers are liars.

Thats like the first thing i learned in this business.

Avg customer should be sent back to high school for consumer math classes.

12k mile or 15k mile is usually what offered.

fyi the residuals on new cars suck mostly, unless its a handful of different brands.

youd be better off buying a car in this market, its very cheap money with 1.9 for 72 wth applicable credit

to add to this, the typical buyer is encouraged by threads like these to fabricate the smelliest pile of bull****, and then to peddle it to all the dealers he can crawl to.

for example, the lie about the lowest price and demand the current seller match it. When the retort is, "Then why are you here if that is the lowest price in town", they become belligerent.

there is nothing wrong with comparison shopping, and the internet has decreased the amount of toil involved. Yet if the buyer hasn't found the price and services that meet their need, they consider everyone to date to be a scammer. which is ****ing ridiculous.

my take on leasing is it's not for the typical end user consumer. For business purposes, with the corresponding expenses allowable, it can make much more sense than buying. But John Q does not need to lease a new car every 2-3 years.

imo leasing is only good for the dealer because every 3 years you'll be back to buy again.

The biggest grossing deals for a dealer are usually leases fwiw

Absolutely! In fact often times if you are driving a lot of miles leasing is the best choice for you. The standard miles are going to be 15,000 per year. After that you buy the miles up front. This is where you get your advantage. You buy miles usually at .10c a mile. That means that your first mile you buy and your 100,000 mile will cost you the same.

Everytime you put a mile on your car, your car takes a depreciation hit. But it is not a simple formula. The first miles you put on your car effect the value less than the end miles. And if you are driving more than average miles then you are taking a bigger hit depreciation wise. So because you are driving more miles your car is depreciating faster than a normal car would depreciate because of miles.

Leasing protects you from this because the price is fixed a head of time. I had a buddy that drove about 25k miles per year. He would do a conventional 60 month loan and after 3 years he would have 75k miles and want to get out of the car. He was taking a huge hit every time he traded. So I put him in a lease where his payment was about the same as a conventional 60 month loan but at the end of the 36 months he simply walked away from the lease and got into another one.

Ok maybe you were understandably offended by what he said, but from reading your post it sounds like you were the one escalating the situation. Then to cuss the manager out, whom you never met and is only there to help..... people like you why i carried a blade and pepper spray with me when I sold cars.....lot of morons out there who think they're god's gift....

+ 10000000

It seems like this thread has turned into customers vs salesmen/finance guys

Maybe that's why I won't ever set foot in a dealership to buy a car. I know what they're thinking (what they're really thinking, not what some BS website tells you theyre thinking)

A new car obv id have to buy from a dealer, and even then, itd be a long drawn out process (if you do it right it should be).

People who buy used cars from a dealer are asking for trouble. It's really simple, they can buy everything wholesale, while you can't. Most people don't realize how much of a disadvantage that puts them.

Also-bad credit customers are the worst of the worst.

this thread also reminds me of something else a vet salesman told me once:

"A customer will only buy from you if you treat them like ****....same way most women will only **** you if you treat them like ****"

Sad, but oh so true!

Ive watched deals where the salesman TELLS them beforehand how he's going to screw them. They don't think he's serious, so they forget about it after a while. Next thing you know the salesman is walking away with 1.5k comm. on front end....

all that price of the car stuff is non sense anyway. youre not cutting a check for the vehicle, youre financing it. You will never keep it for 6 years anyway and will trade in 3.

The large majority are just looking for an affordable payment at a decent rate and a reliable vehicle.

lesson number one for a new sales person is to just flip the customer to payment if possible, and the funy thing is its possible every time unless its a rare situation where you actually are seeing a cash buyer.

In CA where i sold cars, the main thing was to find them a car they liked first.

This is a bad credit lot though, so most people were stingy with the down payment, which of course needed to be high as possible with someone that has a 550 score lol.

If they found a car they liked, then all sorts of things fell into place. All of a sudden there's this pile of money that comes out of nowhere, Grandma Brick with the 800 score shows up etc, etc.

The monthly payment was just as important to them though, which is stupid but hey what can you expect from Joe Customer?