You and me, we think alike. Back in my younger days I worked in dealer finance at a large regional bank. We used to book up to 1000 dealer loans per month. I also used to do floorplans at the dealerships. Wow did I learn a lot there. I never actually worked F&I at a dealership, I would never want to. But I used to see firsthand how they operate. And you’re right. That’s where the money is for a dealership. Not the sales price, not the service department, but the finance office.
The last time I was in a finance office I told the manager no I did not want his optional extended warranty. He kept pushing, as he should. I have no problem with them asking. But I did have a problem with them not taking no for an answer. I finally told him that I know every sales technique in the book. I’ve been a sales manager, I know how they operate. And I know that pushy salesman will keep pushing until they hear no seven times.
So I told him right then and there No. No. No. No. No. No. No.
Then he had the nerve to tell me why I said no. It’s a good thing I’m a little older than I used to be. I was very tempted to cause a situation where the cops would be called on me. But I did not.
One dealer paid the company to have me sit with his finance manager on-site to teach him how to use the software. The finance manager was well into his 70's, had zero desire to learn how to do a deal on the computer and (surprisingly) knew even less on how to sell a car.
So I sat with this gentleman all day, over 10 hours straight trying to teach him how to use the system. This was at a well established Buick dealer in Oak Park, IL back around 1989. My memory's a little foggy on exactly how many cars I sold that day trying to teach this nice old man how to use the system but it was at least 20 which as it turned out was a really good day at that dealership.
The owner of the Buick Dealership stopped me as I was leaving for home around 10pm that night and asked if I wanted a job as a Finance Manager at his dealership. Turned out he made more money per car that day than he had in a very long time.
Honestly, I felt dirty knowing some of the people who purchased cars that day really couldn't afford them or were going to really struggle paying for them over the life of the loan. Their choice, not mine I suppose but still .. didn't like it.
I haven't financed a vehicle since.