Everyone has read stories about the mortgage crisis but it is minute in comparison to the corruption and unscrupulous actions that take place daily in every car dealership. I previously worked as a car salesman for over 10 years.
I would venture to say that 95% of car buyers are getting ripped-off for thousands of dollars. It is not uncommon for a dealership to net a profit as much as $15 THOUSAND dollars on a single car deal.
I am seriously thinking about writing an ebook to help consumers avoid being their next victim. I’ve done some research on the net and have found a few people that have done this. Although their sales page reads like a cheap tabloid you would see in a supermarket. I suspect their motives are no better than the car dealerships.
I could write a book of horror stories on the car industry longer then War & Peace. But, I simply want to arm consumers with knowledge. Consumers do need to know how dealerships pull off their scams in order to know what to look
Sounds like you are a car salesman.
Dealerships typically make 5-10% profit, most of the time lower thanks to the web.
Jay, wake up! you are the naive type of person dealerships make money on.
I’ve seen people on a daily basis that are anywhere from 5K to 20K upside down in their trade in. How do you think this happened?
It’s a vicious cycle, they were upside down in their previous trade, 3-6K dealer profit in used car, inflated finance charges, inflated service contracts. Wake up, it happens every day. Has nothing to do with me being a horrible car salesman.
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