Stories from the Sales Frontlines

1…387388390392393…2003

Comments

  • sterlingdogsterlingdog Member Posts: 6,984
    Now see how well you are learning? You found his comma errors. I'm proud of you. Being conscious of these things makes you a better writer.
  • british_roverbritish_rover Member Posts: 8,502
    Have you noticed Ford credit being dumb lately? The past few weeks they have done stuff that is stupid on both sides of the spectrum.

    For Example.

    Wanting 3,000 dollars down on a lease to get the guys payment under 2,000 dollars a month. On a person who makes 130k a month, has a mid 700 score and pays all his bills on time.

    Finacing a couple of Used Discos way above book when we had to bury negative equity.

    Almost seems like they are getting bi-polar going from one extrem to the other.
  • sterlingdogsterlingdog Member Posts: 6,984
    There are exceptions to every rule. The humor in your writing is why we tolerate you. No homework today. It's Saturday.
  • sterlingdogsterlingdog Member Posts: 6,984
    I hope that you meant $130k a YEAR. If not, I want his job!
  • joel0622joel0622 Member Posts: 3,299
    Must be your Branch. I have 0 complaints about FMCC's buying habits. There is not much I can't get done there with the exception of the people who are just plain rotten. But we run about 70% penetration with them month in and month out and have for the past 15 years.

    Wanting 3,000 dollars down on a lease to get the guys payment under 2,000 dollars a month. On a person who makes 130k a month, has a mid 700 score and pays all his bills on time.

    I would have had the Branch Manager on the phone before the ink on the call back was dry.
  • british_roverbritish_rover Member Posts: 8,502
    Our F&I Manager didn't even let the guy finish his statement before he told him to stop and get her the branch manager. She still waited on hold for almost 20 minutes before they got back to her. It was eventually straigthned out but I agree it shouldn't have been an issue in the first place.
  • joel0622joel0622 Member Posts: 3,299
    Now that I think about it lenders do irritate the crap out of me at times FMCC included. If they would just bring common sense back into the decision process and get rid of all these damn score cards and computer programs our jobs would be much easier.

    Mr Citizen with his 750 Beacon and 6 figure income has no idea if he is at 100% advance or 180% advance. All he knows is that on the 10th day of each month he needs to send a check for $542.38 to FMCC, and he will do that every month just like he has every other bill for the last 20 years.

    They make it harder then they need to some times.
  • lrguy44lrguy44 Member Posts: 2,197
    When Primus was first rolled into FMC we had a lot of problems because they did not understand our customers, cars and programs. Recently, it has been the computer, not the buyer. Had one this week where it took a slam dunk tier 0 (should have been an electronic approval) to a tier 1.e had to eat the difference. That cost us $1000 in gross.
  • snakeweaselsnakeweasel Member Posts: 19,617
    Just remember that being based on a true story does not make the store accurate.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • snakeweaselsnakeweasel Member Posts: 19,617
    Bad spellers of the world untie!!!!!

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • british_roverbritish_rover Member Posts: 8,502
    A friend of mine has a T-Shirt kind of like that.
  • mrsuzukimrsuzuki Member Posts: 58
    Wow Mrs Suzuki...what are we back in Jr High now?
  • snakeweaselsnakeweasel Member Posts: 19,617
    and some believe that a BK last year is no big deal because the court said it was OK.

    Once you get a year or two out from a BK what you have done since that BK can be more important.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • joel0622joel0622 Member Posts: 3,299
    Slow credit after BK is the kiss of death. If the court has wiped your slate clean of all debt and you still can't pay your $29 cricket bill 3 months in a row and it is has gone to collection, then your probably a bad credit risk.
  • mackabeemackabee Member Posts: 4,709
    Well yes, yes I am.
    :)
    Mackabee
  • mackabeemackabee Member Posts: 4,709
    Wow you finally wake up! I was wondering how long it would take you to pipe up! Have a good selling weekend. image

    Mackabee
  • snakeweaselsnakeweasel Member Posts: 19,617
    Thats what I mean it depends on what you do. Get credit cards and max them out and make late payments on them and you are sunk.

    Get credit after BK, use it sparingly but on a monthly basis, make your payments on time and have a balance of no more than 25% of your credit limit on your credit cards and you will be in good shape.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • joel0622joel0622 Member Posts: 3,299
    Get credit after BK, use it sparingly but on a monthly basis, make your payments on time and have a balance of no more than 25% of your credit limit on your credit cards and you will be in good shape.

    Great Advice!!!!!
  • british_roverbritish_rover Member Posts: 8,502
    Off the wall question for you.

    I have three credit cars one that is completly paid off, one with a small balance and one with a little over 50% of the credit limit used up.

    Would I be better off doing a balance transfer to spread that balance among the other two cards, interest rate is about the same on all of them, or just leaving it the way it is. I wasn't sure if it matters that my over all credit limit is well below the 25% mark but I have one card over 50%.
  • snakeweaselsnakeweasel Member Posts: 19,617
    No it shouldn't make much of a difference. IIRC they look at the total credit limit against the total owed.

    One thing you should not do is close the one you have paid off as it could have a negative effect on your credit. Also to keep the company from closing it on you use it occasionally and pay it off at the end of the month. Maybe use it once in a while to fill up your tank.

    You should be ok as long as you make your payments on time.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • gogiboygogiboy Member Posts: 732
    "You wouldn't have trouble with your spelling if you would use the SPELL CHECK provided by the Hosts...unless you run into homonyms."

    Richard--

    Watch out, this is a family forum. About a week or so ago I pointed out where J. had engaged in the use of a homonym--and it wasn't even in the airport men's room in Minneapolis! ;) Small wonder that J.'s wife is now watching his cyber-activities.

    Actually, I really enjoy all the peculiar mistakes, misspellings and misused words on this forum. Most everyone is guilty, including me. It adds some spice between the "stories", which, as everyone knows, are doled out infrequently.

    I'm married to a technical writing professor. One time I had her read some of the posts here. After reading about 10 posts she got this horrible look on her face. Later she confided that the forum reminded her too much of the work students submit. :lemon:

    Gogiboy
  • theatasigmatheatasigma Member Posts: 6
    When I bought my Mustang this summer, I had to wait in line to meet with the F&I manager, as he was the only one on duty. The two ladies in front of me were on a horrible deal, they were trading in a late 90's Neon for a 2004 Escape. Talking to them they got some horrible deal, something like 7-8% (don't remember exactly) financing. With this dealer before you go to the F&I you do the loan paperwork unless you have another means of payment, and they do a quick check to see what the best rate you can get. They were also putting in negative equity into the deal. All I could say was good luck. When they came out Ford Credit did finance them and I was shocked.

    When it was my turn, I was told that Ford Credit might not finance me. I was like why not, I got a 740 average and I and I am about 10 months ahead on the car I am trading in, enough so I had the dealer pay it off and get some back to put into the current deal. It took me longer than the other couple, but I did get 3.9% (same rate on my old loan).

    I think that Ford Credit wants people with bad credit so they can give them high loans, earn some money off them till they default, so they can get the car back and then sell it to someone else. People like me who pay more than the loan amount each month and pay it off are not liked as they do not earn the full interest on the life of the loan.

    LW
  • british_roverbritish_rover Member Posts: 8,502
    Yeah thats what I do buy a tank a gas or something then pay it off at the end of the month. Use their money interest free for three weeks or so.
  • chikoochikoo Member Posts: 3,008
    130k a year ....I would not be able to afford a Disco at 24000/year...unless my spouse also made similar money and drove a camry :sick:
  • chikoochikoo Member Posts: 3,008
    I am about 10 months ahead on the car I am trading in

    Which money lender wants the principal amount back that fast? their livelihood is in earning the interest on the principal. Fact of life.
  • joel0622joel0622 Member Posts: 3,299
    I think that Ford Credit wants people with bad credit so they can give them high loans, earn some money off them till they default, so they can get the car back and then sell it to someone else. People like me who pay more than the loan amount each month and pay it off are not liked as they do not earn the full interest on the life of the loan.

    That is so incorrect. It cost a finance company $1000's of $$ to repo a car. If the consumer rolled neg into the loan then it does not just disappear when it is reposed. Also Ford Credit does not sell the cars they repo. They send them to auction and then sue the consumer for the balance which they never get and it ends up being a loss.

    No bank in goes into a loan hoping the consumer defaults.
  • benderofbowsbenderofbows Member Posts: 542
    "Now benderofbows(?) needs to change her username. I always read it as bender of elbows... makes me want to throw back a couple brewskis every time I read it. ;) "

    LOL, there is nothing wrong with your interpretation.
  • dino001dino001 Member Posts: 6,191
    One thing you should not do is close the one you have paid off as it could have a negative effect on your credit. Also to keep the company from closing it on you use it occasionally and pay it off at the end of the month.

    Closing a credit card would probably not hurt at all as long as remaining cards have long history and low debt to limit ratio. So I think it's OK to cut off the real excess if what's left is in good and long standings.

    2018 430i Gran Coupe

  • snakeweaselsnakeweasel Member Posts: 19,617
    The problem with closing a credit card is it reduces your available credit. Reporting agencies use as part of their scoring the actual debt to available credit. That means if you have 5 Credit cards each with $2K available credit and only use 3 of them and those three have a total of $2,500 owed on them you owe 25% of your available credit which is good.

    But if you close the two you know longer have you now shoot up to owing 42% of your available credit, that will hurt your credit rating.

    So its always a good ideal to keep cards open and used (if only lightly used).

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • british_roverbritish_rover Member Posts: 8,502
    $130k a month is correct and that is not the highest I have ever seen on a credit app. The highest I have ever seen was 700,000 dollars a month claimed income.
  • jmonroejmonroe Member Posts: 8,989
    The highest I have ever seen was 700,000 dollars a month claimed income.

    There must be something wrong with the water/air in you neck of the woods.

    When I made $700K a month (even $130K), I paid cash for everything, couldn't be bothered with credit application paperwork. :shades:

    jmonroe

    '15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl

  • sterlingdogsterlingdog Member Posts: 6,984
    Mercy me. You really do deal with the high rollers. Chikoo pointed out the yearly cost of the Disco. Guess I don't know my cars. The amount of discretionary money that people have today is amazing, isn't it? Guess being a millionaire today is nothing to brag about---Newsweek said that there were literally thousands of them across the country now. It also said that there was a fair number of billionaires in the US now. We used to think years ago that only Uncle Sam had that kind of wallet.
  • snakeweaselsnakeweasel Member Posts: 19,617
    Read his post carefully, it says claimed income. I claim a million a month in income (especially to young blonde haired beauties), the reality is much different. :sick:

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • joel0622joel0622 Member Posts: 3,299
    Your spending is usually commensurate with your income. $185K a month is the highest I have seen and they had a $8500 house note, 3 other cars totaling $2600 a month, and who knows how much you get nailed for taxes on $185K
  • joel0622joel0622 Member Posts: 3,299
    Ya things have changed. Remember years ago when the local Realators would announce the Million Dollar club for the year? Now they have the Million Dollar club each month.
  • jmonroejmonroe Member Posts: 8,989
    ...and who knows how much you get nailed for taxes on $185K

    I do and if I told you, you wouldn't believe me. It's enough to make you cry, even stop working. :shades:

    jmonroe

    '15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl

  • sterlingdogsterlingdog Member Posts: 6,984
    Mark,

    You're right of course. I guess I have the same feeling that your wife has. I spent 28 years grading high school and college English papers. Then when I became the HR Director, I spent another 12 years grading the essays required on teaching applications. Well, actually only 6 years because they made us stop requiring essays on job applications. They said that we were discriminating against clients. I never quite figured that one out. I would want my child to have a teacher who could spell,punctuate, etc.

    Like you, I enjoy reading what the guys write. Actually, their grammar, spelling, etc. is not as bad as one would expect. You have to consider that many times these guys are at work and busy. They get in a rush to respond to the forum. If they were really composing a letter, they would do much better.

    I just enjoy giving j,monroe a hard time, though he is a consumer like me. He rides the boys pretty hard at times. Still, his sense of humor is unique and keeps me in stitches. All of these guys are unique in the way that they express themselves. It tells you much about their personalities and how they are where they are today. If I graded them just on content, they would all get "A's".
  • snakeweaselsnakeweasel Member Posts: 19,617
    and who knows how much you get nailed for taxes on $185K

    The maximum would be $45,942.00 plus $2,682.50 in medicare taxes and $5,840.40 in Social Security tax, plus any state taxes.

    Now this is presuming no tax avoidance plans in the works, its not self employment income and no itemization of deductions. So the actual amount will differ.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • sterlingdogsterlingdog Member Posts: 6,984
    You're right. I also remember when we didn't have credit cards. I didn't get my first one until I was in my late 30's. Not long before my mother passed away in 1995 at age 85, she opened a drawer in her desk and showed me all of these credit cards that had come to her in the mail. She thought that it was so nice that these banks had asked her to have one. She said that she used one once for gas and that the bank had the nerve to send her a bill! She was a bit foggy but she was cute. She and dad never charged anything---just had the house payment for 30 years.
  • joel0622joel0622 Member Posts: 3,299
    Those folks pay more in taxes in two months then I make in a year..... WOW!!

    But ya know what I remember the most about them other then the amount of money they make. They are some bitter people who don't seem to be enjoying life very much. They are one of the few people who I can't even get to crack a smile when they are in my office, and they know me to. They have bought several from us. It could be that they think they are above all of us here and only come out ofthere shell when they are in there own element.
  • sterlingdogsterlingdog Member Posts: 6,984
    Thanks for giving people the advice not to close credit card accounts. Back in the early '90's a dumb house closing attorney advised us to close four department store accounts and turn in the cards. He said that our one Visa card would be fine to use for purchases. We had excellent credit and my wife only owed small amounts on the four department store cards. Well, after we purchased the house I found out that our credit score had dropped. It took some time for it to rebuild itself. In 11 house closings, that was the only time that such a suggestion was made. We never did figure out why he wanted us to do that. My long time CPA didn't understand the reasoning either. The cash flow and assets to debt ratio were ok. We haven't closed another card out in 15 years, but we don't have but two plus a gas card any way.
  • british_roverbritish_rover Member Posts: 8,502
    These were all on leases. Most of these people have the liquid assets to pay cash for just about anything they want but they would prefer not to tie up that much money in a single depreciating asset.

    Oh and the guy with the 700,000 a month income was probably under reporting. the business he runs with his wife and father in law is truly enormous.
  • sterlingdogsterlingdog Member Posts: 6,984
    Even people with money can get nervous at a car dealership. They hate to part with it. Some of the wealthiest are tighter with a dollar than the rest of us. My wife's cousin owns half of Charlotte, NC and he will stick you with the bar tab every time.

    Though we need money to live, it really doesn't buy happiness from broken homes, drug addiction, etc. And if you are sick, the money and material possessions really don't mean a thing. At that point, you would give it all up just to be well.
  • oldfarmer50oldfarmer50 Member Posts: 24,506
    "...Those folks pay more in taxes in two months then I make in a year..."

    I wouldn't bet on it. It wouldn't surprise me if they paid less on their 185K than you paid on your 18.5K. :cry:

    2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible

  • sterlingdogsterlingdog Member Posts: 6,984
    Good point! Don't you just know that they know all of the loop holes?
  • chikoochikoo Member Posts: 3,008
    My wife's cousin owns half of Charlotte, NC and he will stick you with the bar tab every time.

    Most classical rich people are rich because they will not part with the money unless it was an investment. :P

    I know a person who has an empire of 22 big and small hotels. He still drives a 2000 Camry.

    The neuvo-rich is a different story all together :shades:
  • mackabeemackabee Member Posts: 4,709
    If I graded them just on content, they would all get "A's".

    Ahh teach, you're the best! image

    Mackabee
  • mackabeemackabee Member Posts: 4,709
    The mind is a powerful thing. I always read it as benderofelbows too! amazing.
    :)
    Mackabee
  • joel0622joel0622 Member Posts: 3,299
    Same here. I just always figured that we had a beer lover in our group.
  • mackabeemackabee Member Posts: 4,709
    Ok Richard. I think it is time for you to tell Joel622 the difference between "there" and "their". I can't bear it anymore! :cry: While you're at it type in "blondes" in the box below and let me know if it works.
    image
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