Go Back   DealershipForum.com > Domestic Franchises and Independent Dealers > Chrysler > Sales

Notices

Reply
 
Thread Tools Display Modes
Old 02-19-2018, 11:57 AM   #16
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,855
Default

Quote:
Originally Posted by MSDealer View Post
According to my "self-analysis" report the non-prime incentive is one of my MOST used incentives. About 15-20% of my sales have this incentive code on the sale. We are very subprime focused and routinely hit 300-400% MSR on the Journey submarket.
Interesting - thanks for sharing your experience.

Does the fact the low FICO incentive is Retail Cash as opposed to Dealer Cash make any difference in your opinion? Could FCA have structured the low FICO incentive as Dealer Cash and achieved the same result for your customers or is it a benefit in terms of getting the deal funded to show the incentive as Retail Cash?
XDCX is offline   Reply With Quote
Old 03-21-2018, 10:30 AM   #17
MSDealer
New Member
 
Join Date: May 2009
Posts: 24
Default

The lenders know that rebates aren't real cash -- but they choose to ignore that. It definitely makes a difference.
MSDealer is offline   Reply With Quote
Old 03-27-2018, 08:46 AM   #18
conn02
Senior Member
 
Join Date: Feb 2008
Posts: 141
Default

I believe that the take rate on the low FICO incentive would take off, if it were moved to dealer cash. The dealer would be able to make more deals (mostly dealing with negative equity on trades) and would better manage the structure of the deal
conn02 is offline   Reply With Quote
Old 03-27-2018, 09:28 AM   #19
steve_biegler
Senior Member
 
Join Date: May 2010
Posts: 1,401
Default

Quote:
Originally Posted by conn02 View Post
I believe that the take rate on the low FICO incentive would take off, if it were moved to dealer cash. The dealer would be able to make more deals (mostly dealing with negative equity on trades) and would better manage the structure of the deal
You are exactly right. The problem is the manufacturer does not trust you! They are convinced that you will just keep the dealer cash for yourself and not use it to make deals.
steve_biegler is offline   Reply With Quote
Old 04-02-2018, 08:19 PM   #20
mryan55
Senior Member
 
Join Date: Mar 2013
Posts: 590
Default

Quote:
Originally Posted by MSDealer View Post
The lenders know that rebates aren't real cash -- but they choose to ignore that. It definitely makes a difference.
Chrysler Capital has generally scored true cash/equity down and rebates a little bit differently over the years but in March that changed, so now rebates are handled 100% like cash/equity, even in Chrysler Capital land. They've definitely been pushing for more looks and paper, new and used alike, so I guess they are going to try some different things.
mryan55 is offline   Reply With Quote
Old 04-03-2018, 04:44 AM   #21
steve_biegler
Senior Member
 
Join Date: May 2010
Posts: 1,401
Default

https://www.revzilla.com/common-trea...t-032918-|tpfn

Interesting article on how Harley finances their bikes. Read to the end of the article.
steve_biegler is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Changes to FICO will impact credit scores XDCX Automotive Discussions 1 09-04-2009 11:40 AM
130% CFC Advance for high FICO customers XDCX Finance 4 02-27-2009 09:36 AM
GMAC lowers FICO Score to 621 XDCX Sales 14 01-17-2009 07:01 AM
Press Release implies that CFC will accept 620+ FICO Scores XDCX Finance 0 01-16-2009 05:12 PM
GMAC - 700+ FICO Score Required XDCX Sales 10 10-17-2008 08:12 AM


All times are GMT -7. The time now is 11:45 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Copyright DealershipForum.com - 2008 - 2016