Anyone in car sales?
Discussion
I was searching for answers on Google, but then thought here would surely be more helpful!
I have been considering getting into new car sales recently. I've worked in field sales since graduating from uni 3 years ago and know what a typical car sales role entails.
However my reservation is this: with base salaries very low (high commission), how do you convince the banks to give you a decent size mortgage? I've got one now, but I remember when I bought my first house the lender said only a maximum of 25% bonus can be used. This was also only possible if the same level of bonus had been achieved every month for 24 months. FWIW, I am looking to move house within 4 years.
Thanks in advance.
I have been considering getting into new car sales recently. I've worked in field sales since graduating from uni 3 years ago and know what a typical car sales role entails.
However my reservation is this: with base salaries very low (high commission), how do you convince the banks to give you a decent size mortgage? I've got one now, but I remember when I bought my first house the lender said only a maximum of 25% bonus can be used. This was also only possible if the same level of bonus had been achieved every month for 24 months. FWIW, I am looking to move house within 4 years.
Thanks in advance.
From experience four years of decent commission and a good deposit (I assume you'll have equity from your current) will go in your favour assuming everything else is ok. A colleague of mine found a letter from our MD helpful when he recently bought.
footnote.... If it's a volume franchise go used not new
footnote.... If it's a volume franchise go used not new
MattHall91 said:
Thanks. Yes suppose if I started sooner rather than later, that would be ample time to use the commission.
Sorry, I was a bit confusing there, I meant that earning four year's worth of decent commission is proof enough that you're a safe bet. Which franchise are you thinking of?Gassing Station | Finance | Top of Page | What's New | My Stuff