Cashless Society

PJ Diaz said:
I know a lot of dealerships like to sell credit and get the customer making payments, because they get some kickback.
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Yep!.. and different banks have spread limits. Most of them were 2 point. So if they offer the note at 4% buy rate, I'd try to get my 2 point spread at 6%. Once the note funds the dealership, they also fund the spread on the 2 points. Some banks required at least 6 months before doing "chargebacks"... in case they paid it off in say 4 months. Which some people did to qualify for certain incentives like you'd get an extra $1000 rebate if you financed with Ford Motor Co. .. then they would just pay it off after a few months. So... the interest rate is ALWAYS negotiable. Unless it's a factory incentivized program like 2.9% for 60 months, 1.9% for 48, etc.
 
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DoubleAtotheRON said:
Yep!.. and different banks have spread limits. Most of them were 2 point. So if they offer the note at 4% buy rate, I'd try to get my 2 point spread at 6%. Once the note funds the dealership, they also fund the spread on the 2 points. Some banks required at least 6 months before doing "chargebacks"... in case they paid it off in say 4 months. Which some people did to qualify for certain incentives like you'd get an extra $1000 rebate if you financed with Ford Motor Co. .. then they would just pay it off after a few months.
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hence why salesman get extra if the customer gets Finance. If a customer gets finance then they are also likely to get insurance through the dealership- another extra for the salesman. F and I is cream to a salesman commission.
 
Lucky Luke said:
hence why salesman get extra if the customer gets Finance. If a customer gets finance then they are also likely to get insurance through the dealership- another extra for the salesman. F and I is cream to a salesman commission.
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True!.. we would "bonus" that salesman/saleswoman for converting them to finance so we could have our chance at more product sales, and profit.
 
DoubleAtotheRON said:
Cool!.. so you know the routine.
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Certainly do. i was also a fill in valuer and buyer of used cars and bikes.

Have to add a Motorcycle salesman is a fantastic well paid career. Some decent perks to. I recommend it to anyone who hasn't really got any qualifications. I was making 100k 20 years ago. Big hours though.
 
Lucky Luke said:
Certainly do. i was also a fill in valuer and buyer of used cars and bikes.

Have to add a Motorcycle salesman is a fantastic well paid career. Some decent perks to. I recommend it to anyone who hasn't really got any qualifications. I was making 100k 20 years ago. Big hours though.
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Yep!… good money, but you’re married to it.
 
DoubleAtotheRON said:
Yep!… good money, but you’re married to it.
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I sold cars for Ford for 2 years and you are 100% right about that. If you want to make money, you had to put in the time. I worked 6 ten to twelve hour days a week and the people in the dealership were scumbags. The owner, vice president and other high level employees would try to take your commissions if they could and see if you noticed. Then try and not pay bonuses and extras. I finally lost it one day and tossed a sales manager over a desk that was trying to screw me out of money. I found a better way to make a living. Stealing the pension checks from helpless old ladies. It was more ethical than car sales and had better hours. :bigjoint:
 
FirstCavApache64 said:
I sold cars for Ford for 2 years and you are 100% right about that. If you want to make money, you had to put in the time. I worked 6 ten to twelve hour days a week and the people in the dealership were scumbags. The owner, vice president and other high level employees would try to take your commissions if they could and see if you noticed. Then try and not pay bonuses and extras. I finally lost it one day and tossed a sales manager over a desk that was trying to screw me out of money. I found a better way to make a living. Stealing the pension checks from helpless old ladies. It was more ethical than car sales and had better hours. :bigjoint:
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Yeah it's not for the faint of heart. I've seen everything from fist fights to throwing knives to fireworks throw under the shitter door. I worked at one Dealership that the owner was completely oblivious to everything. We had a full bar behind the "Tower of Power".. we'd send a salesman out for ice around 4pm when the owner left for the day. Good times. But, Im glad im out. I would spend so many days staring out the window with no traffic thinking "I could be mowing the lawn, or working on a project".... esp on a nice day. It sucked being stuck there. Then when your day off came around, the weather sucked.
 
DoubleAtotheRON said:
You think it's possible that we could be heading towards a cashless society?.. or total bullshit? Cash will always be king? Discuss.
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Its 100% gonna happen, it’s not a matter of if but when. Even the Bible says people won’t be able to buy and sell without a mark….. Once there isn’t cash it’s over, 100% control. They can just freeze your ish.
 
The competition for customers would get so fierce some days, it would get physical. The worst behavior I've ever been around in a workplace by far including my jobs as a doorman at clubs. It was nice during the good times though as the money could get really crazy at times. Our finance manager was a 6' tall blonde lady that was a real knockout. I used to laugh my ass off when guys came out of her office just looking dazed having signed up for everything extra we had to offer. Rust proofing, under coating, fabric protection, hell get the extended warranty too lol. It was a good lesson in sales and dealing with people but I couldn't do it as a career.
 
FirstCavApache64 said:
The competition for customers would get so fierce some days, it would get physical. The worst behavior I've ever been around in a workplace by far including my jobs as a doorman at clubs. It was nice during the good times though as the money could get really crazy at times. Our finance manager was a 6' tall blonde lady that was a real knockout. I used to laugh my ass off when guys came out of her office just looking dazed having signed up for everything extra we had to offer. Rust proofing, under coating, fabric protection, hell get the extended warranty too lol. It was a good lesson in sales and dealing with people but I couldn't do it as a career.
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That's funny... I was in it for 32 years, and have seen good looking F&I ladies just slay those customers in the office.
 
Coldnasty said:
Its 100% gonna happen, it’s not a matter of if but when. Even the Bible says people won’t be able to buy and sell without a mark….. Once there isn’t cash it’s over, 100% control. They can just freeze your ish.
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Back in 1988, I was working with a guy that said one day we will be all cashless, and that everyone would be required to have a chip installed in your hand or other body part that would contain all of your health records, banking info, and this is how you would buy goods. We didn't even have smartphones back then, so I couldn't really wrap my head around it, and thought he was crazy.... but maybe? Hell, this was 34 years ago.
 
I review probably two dozen installment contracts a day... the vast majority of car buyers are complete idiots; my opinion of the Sales and F&I departments is only somewhat higher. It's not necessarily their fault - if they explained how those products actually worked, fewer people would probably purchase (not to say there's anything wrong with those products...) - but sooooo many issues start with miseducation at the dealer level.

Please don't get me started on the service department...
 
DoubleAtotheRON said:
Back in 1988, I was working with a guy that said one day we will be all cashless, and that everyone would be required to have a chip installed in your hand or other body part that would contain all of your health records, banking info, and this is how you would buy goods. We didn't even have smartphones back then, so I couldn't really wrap my head around it, and thought he was crazy.... but maybe? Hell, this was 34 years ago.
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Same type experience. And I thought bullshit……. Shows what I know lol
 
orangejesus said:
I review probably two dozen installment contracts a day... the vast majority of car buyers are complete idiots; my opinion of the Sales and F&I departments is only somewhat higher. It's not necessarily their fault - if they explained how those products actually worked, fewer people would probably purchase (not to say there's anything wrong with those products...) - but sooooo many issues start with miseducation at the dealer level.

Please don't get me started on the service department...
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Are you a buyer? Comptroller? I've tried many methods to sell product. Some ethical, some not so much. I figured out that I did much better taking my time to explain each product in detail, giving examples, and stating beforehand that "There are some options available to you, and by law, Im required to disclose them to you"... this total transparency seemed to be effective. I was at the end of my career anyways, and I didn't give a hill of beans if they bought anything or not. I was set to retire soon. But yeah, I've seen some younger F&I guys that would take advantage of the "captive" buyer... the "get me done's". I figured out about half way through my career that I was spending money like it's never going to end. Then I started changing my path. Even tho I was making 6 figures a year, I would drive a $500 shitbox trade in, and I didn't give 2 shits who saw me in it. I ate sandwiches everyday, stopped going out for cocktails, kept the house at 55 degrees in the Winter, and saved all I could, made the max contribution to the 401K, invested my spare money, paid off everything including my land and home. I knew I didn't want to work till retirement age. But, I still see guys in thier mid 50's that are in debt up to thier eyeballs, and will be working well past 62 (if they can), and have no retirement.
 
madvillian420 said:
Does it? People balk at the idea of a society that would voluntarily have a chip married to them yet were in the midst of generation smart phone/tablet. We already have the chip, nobody even had to force us to carry it around either lol.
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This part in particular, "...everyone would be required to have a chip installed in your hand or other body part that would contain all of your health records, banking info...". You're talking about a minor operation to implant a foreign object inside your body, which would be forced to be done by the government. But you think that's ever going to happen in the US? Yes, that's the typical, "LOVE IT OR LEAVE IT BUT ALSO THEY'RE OUT TO GET YOU" meth paranoia patriot.
 
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