💵Finance managers generate income from finance deals and selling additional optional products.
📞Phoning a friend can lead to biased advice and potentially lower the chances of getting the best deal.
💲Finance managers earn more money when customers finance a larger amount.
🔒Being pre-approved at a credit union may result in missed opportunities for better financing options.
⏳Taking time to research and compare offers can lead to more informed negotiations and better prices.
Why do finance managers prefer customers to finance a larger amount?
—Finance managers make more money when customers finance a larger amount due to increased interest rates and commissions.
Why is phoning a friend discouraged in the finance office?
—Phoning a friend for advice on products can lead to biased opinions and hinder effective decision-making.
Is it beneficial to pay cash for a car?
—Paying cash for a car can be advantageous in terms of avoiding interest charges, but it may limit the opportunity to take advantage of financing deals and add-on products.
Why is being pre-approved at a credit union not always an advantage?
—Being pre-approved at a credit union may limit the negotiation power and potential benefits offered by dealership financing options.
What are the benefits of taking time to research and compare offers?
—Taking time to research and compare offers enables buyers to make informed decisions, negotiate better prices, and avoid impulsive purchases.
00:00Introduction: Kimberly welcomes viewers to her channel focused on understanding dealership finance offices.
00:08Rewritten Title: Six phrases that finance managers hate to hear when dealing with customers.
00:54Insight 1: Finance managers earn income from finance deals and selling optional products.
04:23Insight 2: Phoning a friend may lead to biased advice and hinder effective decision-making.
08:43Insight 3: Finance managers prefer customers to finance a larger amount to maximize their earnings.
11:28Insight 4: Being pre-approved at a credit union may limit negotiation power and potential benefits from dealership financing.
14:13Insight 5: Taking time to research and compare offers helps make more informed decisions and negotiate better prices.
18:17Insight 6: Canceling products purchased may result in chargebacks and impact the finance manager's earnings.
21:20Conclusion: Kimberly emphasizes the importance of understanding finance office dynamics and encourages viewers to subscribe.
