What is taking dealer credit worth to the dealer?
Discussion
Do dealers still get commission on using their in-house finance?
Pending arrival of a car for an inspection and some final financial stuff...
I've had a better offer on finance from a 3rd party, save a couple of grand over the term.
Take that or will the dealer likely discount the car, or throw in extras to match the deal if they secure the finance?
No experience of main dealers... It's a 12 month old ex demo not a new car of that makes any difference.
Put a holding deposit down but haven't seen the car so can still walk away.
Thanks
Pending arrival of a car for an inspection and some final financial stuff...
I've had a better offer on finance from a 3rd party, save a couple of grand over the term.
Take that or will the dealer likely discount the car, or throw in extras to match the deal if they secure the finance?
No experience of main dealers... It's a 12 month old ex demo not a new car of that makes any difference.
Put a holding deposit down but haven't seen the car so can still walk away.
Thanks
Yes - or the sales drone does, as a minimum... 
Go to buy a car from a dealer, then watch them wilt/panic/cr
p themselves when you reveal - just before signng up - that you'll be paying cash 
.
An alternative is stating that you'll be paying cash from the outset, they'll just be "disinterested" in yur plan (and very interested in pointing out the "benefits" of monthly payments versus "paying ALL that money out in one go!
" (you'll [still] have your money in the bank and can spend it how you wanted to, as a starter for ten 
) 
...
Go to buy a car from a dealer, then watch them wilt/panic/cr
p themselves when you reveal - just before signng up - that you'll be paying cash . An alternative is stating that you'll be paying cash from the outset, they'll just be "disinterested" in yur plan (and very interested in pointing out the "benefits" of monthly payments versus "paying ALL that money out in one go!
" (you'll [still] have your money in the bank and can spend it how you wanted to, as a starter for ten ) ...Dealers make very little on cars typically. They might sell a £20,000 car with a gross profit of £500 or less (perhaps even at a loss).
If that 20k car was financed then there's another £4,000 or so for the customer to pay towards that car, I'm not sure how much profit would go to the dealer but it could eclipse the amount made on the car.
Apart from that, dealers tend to rely on bonus paid on volume nowadays AFAIK. An Audi dealer I worked for in the past made well over a grand per car just on bonus payments
If that 20k car was financed then there's another £4,000 or so for the customer to pay towards that car, I'm not sure how much profit would go to the dealer but it could eclipse the amount made on the car.
Apart from that, dealers tend to rely on bonus paid on volume nowadays AFAIK. An Audi dealer I worked for in the past made well over a grand per car just on bonus payments
Excellent! Sounds like I've got all the bargaining power here then.
Really going to have to be strong willed an be prepared to walk away it I don't get the right deal.
It's a 65k car, borrowing 50k over 2 years, so at the main dealer 7.9% that's a healthy whack of interest!
So seems like they should certainly have some wiggle room.
Cheers
Really going to have to be strong willed an be prepared to walk away it I don't get the right deal.
It's a 65k car, borrowing 50k over 2 years, so at the main dealer 7.9% that's a healthy whack of interest!
So seems like they should certainly have some wiggle room.
Cheers
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