By on February 12, 2016

Bentley Export courtesy of armstrongrelocation.wordpress.com

There’s not a more uncomfortable phone call for a car dealership’s finance manager to make then asking a customer to come back to have their finance or lease contract rewritten. This is typically caused by sales managers — the people most despised by finance departments — who spot deliver a vehicle based on their wrong guess about the rate or term a lender would approve the deal. Needless to say, the vast majority of these rewrites result in a higher monthly payment for the customer.

A couple of years ago, a finance manager at a Los Angeles Mercedes-Benz dealer told me and a Mercedes-Benz Financial colleague of mine about the day he picked up the phone to fix the opposite situation: the dealership had miscalculated the taxes on a client’s lease on a black ML350 Bluetec SUV and they needed the client to return and sign a new lease agreement reflecting payments of $14 per month lower than the original contract.

He called the customer with the good news only to hear, “No no no! Payment good. Payment good. We OK!”

After he hung up, he thought, “We just got snookered. That ML is probably on a slow boat to China and the factory is going to kill us.” (Read More…)

Recent Comments

  • Lou_BC: “Of course, nobody buying a COPO Camaro plans on running them on the street” Is that a...
  • FerrariLaFerrariFace: This. As a wise man once said, “There’s no such thing as a cheap BMW.”
  • FerrariLaFerrariFace: I mean, if you expected a scientific exploration into such a question, you were guaranteed to...
  • 3800FAN: Why didnt american cars catch on in Europe? 1 the price of fuel, 2 the road infrastructure cant support cars...
  • Inside Looking Out: You all do not get the idea behind Uber/Lyft. It is the ride SHARING. It is not a taxi and...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Mark Baruth
  • Ronnie Schreiber