Platinum Contributing Member Steve753 Posted November 20, 2022 Platinum Contributing Member Share Posted November 20, 2022 3 minutes ago, Snake said: Go ahead and have at your nickles and dimes. Every purchase you make on a CC is one more nail in the coffin that is banks and corporations filling up their dossier on you. Personally, I am doing everything in my power to lower my exposure to these thieves. "Put the cash to good use elsewhere....." You mean the cash collecting dust in my safe? Taking $15k out had no effect on the rest of the cash sitting there. Again... I get it. Worry about the pennies and the nickles will take care of themselves. Just ain't worth my time and energy. Your monthly pension doesn't get direct deposited into your bank account? Quote Link to comment Share on other sites More sharing options...
Not greg b Posted November 20, 2022 Share Posted November 20, 2022 46 minutes ago, ActionfigureJoe said: Before I purchased my last vehicle from a dealer I looked into who they were financing through and how much their kickback was. With that information and invoice pricing, coupled with all incentives the dealer was getting through the manufacture, I negotiated a deal. The deal went smooth and quick. If you think a dealer is wanting you to finance for a “kick back” you better go back and do some researching. A finance department can make more deals in a hour on cold calls than a sales person can working the floor of a dealership all day. Quote Link to comment Share on other sites More sharing options...
Snake Posted November 20, 2022 Share Posted November 20, 2022 6 minutes ago, Steve753 said: Your monthly pension doesn't get direct deposited into your bank account? Yep. Required. Also required is an immediate with drawel and deposit in my safe. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted November 20, 2022 Platinum Contributing Member Share Posted November 20, 2022 1 minute ago, Snake said: Yep. Required. Also required is an immediate with drawel and deposit in my safe. So you're not fooling anyone. You're a weird fella. 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 20, 2022 Share Posted November 20, 2022 9 minutes ago, Not greg b said: If you think a dealer is wanting you to finance for a “kick back” you better go back and do some researching. A finance department can make more deals in a hour on cold calls than a sales person can working the floor of a dealership all day. The difference between the buy and sell rate is 1-3% of the amount financed. That goes directly into the dealer’s pocket. Tell me, what’s the typical margin for a dealer on a new car purchase? Quote Link to comment Share on other sites More sharing options...
Snake Posted November 20, 2022 Share Posted November 20, 2022 2 minutes ago, Steve753 said: So you're not fooling anyone. You're a weird fella. Keep working. 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 20, 2022 Share Posted November 20, 2022 2 minutes ago, Snake said: Keep working. That is a little odd. Not a lot, but some. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 20, 2022 Share Posted November 20, 2022 If you want to flip a vehicle and don’t want to tie up your own money, Lightstream is a great option. It’s an unsecured vehicle loan for carriers of high credit scores. You can get approval in about 3 hours and have the money sitting in your bank account within 24 hours. Flip the vehicle within the first billing cycle (up to 60 days) and there’s no interest or fees. I’ve used it 3 times this year borrowing between $30 to 62k. It’s a great tool. Quote Link to comment Share on other sites More sharing options...
Not greg b Posted November 20, 2022 Share Posted November 20, 2022 10 minutes ago, ActionfigureJoe said: The difference between the buy and sell rate is 1-3% of the amount financed. That goes directly into the dealer’s pocket. Tell me, what’s the typical margin for a dealer on a new car purchase? 2% on a 40k purchase is like 800 bucks. They could give a rats ass about it. They have a way better reason to have you finance it. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 20, 2022 Share Posted November 20, 2022 Just now, Not greg b said: 2% on a 40k purchase is like 800 bucks. They could give a rats ass about it. They have a way better reason to have you finance it. You didn’t answer my question. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted November 20, 2022 Platinum Contributing Member Share Posted November 20, 2022 24 minutes ago, Snake said: Keep working. I'll retire earlier than you did. Quote Link to comment Share on other sites More sharing options...
SkisNH Posted November 20, 2022 Share Posted November 20, 2022 1 hour ago, ActionfigureJoe said: Wrong. Dealers are given kickbacks from finance companies for every deal that they close on. That kickback is a considered margin when dealers are negotiating with you. Finance the vehicle and then pay it off. You’ll always get a better deal. You can take money out of your left pocket and put it in your right....wtf man... So the dealer makes 500.00 on the vig so he can give you 500.00 off the car.....I always new you were an asshole but I didn't believe you were stupid. I guess I've been proven wrong. 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 20, 2022 Share Posted November 20, 2022 7 minutes ago, SkisNH said: You can take money out of your left pocket and put it in your right....wtf man... So the dealer makes 500.00 on the vig so he can give you 500.00 off the car.....I always new you were an asshole but I didn't believe you were stupid. I guess I've been proven wrong. I’m amazed at how little you and many others know about the auto sales industry. Wow. 1 Quote Link to comment Share on other sites More sharing options...
Gold Member EvilBird Posted November 20, 2022 Gold Member Share Posted November 20, 2022 2 minutes ago, ActionfigureJoe said: I’m amazed at how little you and many others know about the auto sales industry. Wow. The expert in the Van has spoken Quote Link to comment Share on other sites More sharing options...
SkisNH Posted November 20, 2022 Share Posted November 20, 2022 Just now, ActionfigureJoe said: The only time it holds true is if the manufacturer ties incentives towards financing... Secondly, I believe nobody should buy a new vehicle until there net worth is over a million.... Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 20, 2022 Share Posted November 20, 2022 Just now, EvilBird said: The expert in the Van has spoken When it comes to vehicle sales and how dealers make their profits, yes I am. Quote Link to comment Share on other sites More sharing options...
Gold Member EvilBird Posted November 20, 2022 Gold Member Share Posted November 20, 2022 Just now, ActionfigureJoe said: When it comes to vehicle sales and how dealers make their profits, yes I am. Keep dreaming . Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 20, 2022 Share Posted November 20, 2022 1 minute ago, SkisNH said: The only time it holds true is if the manufacturer ties incentives towards financing... Secondly, I believe nobody should buy a new vehicle until their net worth is over a million.... Nice backpeddle. Quote Link to comment Share on other sites More sharing options...
SkisNH Posted November 20, 2022 Share Posted November 20, 2022 Just now, ActionfigureJoe said: Nice backpeddle. Not a backpeddle...are there any incentive in the past couple of years? No.. Quote Link to comment Share on other sites More sharing options...
Snake Posted November 20, 2022 Share Posted November 20, 2022 33 minutes ago, Steve753 said: I'll retire earlier than you did. Keep working to make a point was my intention. Good on you... Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 20, 2022 Share Posted November 20, 2022 Just now, SkisNH said: Not a backpeddle...are there any incentive in the past couple of years? No.. Finance companies that partner with dealers always provide kickbacks to the dealer. It’s a very competitive market. Kickbacks range from 1-3% of the amount financed. In normal times dealers have very small margins. The vast amount of their profit comes from trades, dealer installed options, finance kickbacks, service contracts, and extended warranties. I can always negotiate a better deal if I finance through the dealer instead of paying cash. Every single time. It’s basic economics. I scratch the dealers back and they scratch mine. Within 20 days I pay off the loan. They also eat the tack on loan fee. Usually $10-20. 1 Quote Link to comment Share on other sites More sharing options...
Snake Posted November 20, 2022 Share Posted November 20, 2022 Every dealer's dream is idiots like you guys walking around a lot... 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted November 20, 2022 Share Posted November 20, 2022 Every dealers dream is any idiot that’s willing to buy a vehicle at this point in the economy. 1 Quote Link to comment Share on other sites More sharing options...
Gold Member EvilBird Posted November 20, 2022 Gold Member Share Posted November 20, 2022 3 minutes ago, ActionfigureJoe said: Every dealers dream is any idiot that’s willing to buy a vehicle at this point in the economy. But I need a new Van goddamnit !!!! Where else am I gonna live !!! Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted November 20, 2022 Share Posted November 20, 2022 32 minutes ago, Snake said: Keep working to make a point was my intention. Good on you... He's lying, unless he plans on retiring in 2 years. 1 Quote Link to comment Share on other sites More sharing options...
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