Dealership employees are often compensated by the "total upsell deals" they secure. Example... the dealership says, "we're in this vehicle for $10,000... you get 20% commission for whatever you can get the customer to pay above $10K." I remember a deal years back where the dealer sales person sold a used car for $9,500... in a car where the dealer's cost was $4,000.... to an old guy who probablly didn't know "come here from sic 'em"... High 5's all around! I have a friend who freefully admits that more than half of her pay depends upon the total value of "upsell" she get the customer to agree to.... mostly overpriced extended warranties. Can't imagine that the balance of the pricing on the upscale sales favors the customer...
Last I checked, my FICO was around the 750 mark. I don't have a large income by any means, just $50k a year from my day job. I live in the south, so that may go further than other places.
Yeah, that's the question. Shorting the automotive companies...I'm not sure if that play is even viable at this point.
lol. I see! Those guys were laying it on pretty thick too. The sales guy even went so far as to bring a highly attractive female coworker to sit in on our discussion.