INSIDE DEALER FINANCE OFFICES: (Closers That Cost You Thousands!) Kevin Hunter at his BEST!

There are some good guys who occupy this office, but the last 10, 20 years in the car dealer history has attracted a ton of unscrupulous operators who have just one mission, to become the wealthiest and highest paid operators in the car dealership. And those guys are the guys we're gonna help you defeat today. The bad dealer finance officers don't become ruthless operators who brag about crushing their clients overnight. Oh no, it's a process. They train to become the person you dread and the more they train, the wealthier they get. A top finance trainer opens his champion series training with lines like, we're gonna crush it. We're gonna do whatever it takes, whatever's necessary and we're going to crush it. He is raising a special breed of finance officers who often do anything and everything they can to empty your pockets. Do they break the law? Yes, sometimes. Are their actions often legal within the loose definitions of the law? Yes, very often. I need not say anything more because the words directly from the mouth of one of the top dealer finance trainers says it all. Check out this short video clip. It sums up the attitude of far too many dealer finance guys everywhere. With that being said, FNI is in fact the backstop of the dealership. We have to double and triple check everything, make sure we're right, make sure we're within federal guidelines and make sure that we're compliant. But with that said, listen, how much revenue can we generate with Cap One? Come on with it. That's what we wanna know and that's what I'm excited about, all right? There it is right out in the open. That's not a banker you're meeting with. That's one of the most skilled salesmen in the entire dealership. Don't ever forget that. You might wonder why these guys are so driven. This office started out being a simple service to car buyers. Dealers created contacts with banks and helped out their customers with those relationships. That is no longer the case. Most finance offices are there with one mission and one mission only. Empty your pockets. Here's a surprising detail you might not have known, however. Despite being known as the sharks of the car business, finance managers commonly end each month feeling worried about their job. I'm not kidding. Every 30 days, their job is on the line. Why? Well, greedy dealer owners push them very hard expecting that a slick-talking finance officer will empty big dollars out of your pockets. If the finance man doesn't crush it, doing whatever it takes, whatever is necessary to score major product sales, hanging ridiculous big fees on you, marking up interest rates, all to your detriment and the benefit of the dealer, well, then they could be out on the street looking for a new job very fast. Dealer owners are incredibly greedy and they are the number one driving force behind the nonsense a finance officer pulls on you. When you object to the treatment you could be receiving in finance and ask to see the owner, well, you're complaining to the very devil himself. Hi, Kevin Hunter here. Now listen, some of you actually enjoy the dealer process. You like negotiating. You like understanding dealer tactics. You're a do-it-yourselfer and that's totally fine with us. For more than a decade, we've provided free tools, templates, and education and we're not stopping anytime soon. But some of you, you don't enjoy it at all. You don't want to battle over OTD pricing. You don't want to structure a trade properly. You don't wanna manage the finance office. If that's you, our car buying team handles this nationwide. New vehicles, used vehicles, leases, factory orders, and trade-ins. We obtain written out-the-door quotes. We structure and manage the negotiations. We oversee documentation from start to finish. And when you walk into a finance office, you're not alone. You have a quarterback guiding you through the process. You remain the decision maker. We handle the structure and eliminate the headaches for you. If that sounds like the kind of car buying that you prefer, you can learn more about our hassle-free car buying service at thehomeworkguy.com. Now let's get back to the show. In just a moment, you're going to witness the closing lines of those heavyweights in action, the very lines they train on, and how to combat them. This is vitally important because you only buy a car once every so many years. These guys are doing this hundreds and thousands of times every year. You're like a newbie in a martial arts class having to face off with a 12th degree black belt instructor. Appearing on the screen here to my right, a customer just bought a car that is covered with factory warranty, and the finance man wants to score an extended warranty sale on top of it. There's zero need for this customer to get a warranty. It's a new car, entirely covered by factory warranty, but that's not going to stop the finance man from trying to sell him an extended warranty. The finance officer will begin by saying he values the customer's time, and then he'll go through his stuff so fast, it literally makes the customer's head spin. You might be inclined to think he's doing the guy a favor going fast. It feels like he's getting out of there quick, but he's not. What you need to know is that fast talk in finance never means you're saving time or that you're being taken care of better. It always means the finance guy is busy emptying your pockets. In the end, we'll circle back and show you what you should have said right away in the beginning to have stopped this onslaught of nonsense. Now, take a look at what is known as a dynamic value built presentation of an extended warranty the customer doesn't need. All right, now Mr. Jones, here's the deal. I'm gonna go through your warranty information that comes with the vehicle. Please ask me any questions if you got them. Your vehicle comes with a three-year, 36,000-mile bumper-to-bumper coverage, except for the bumpers aren't gonna be covered. Also, it comes with a five-year, 60,000-mile powertrain coverage. Now, I'm writing limited on here because not everything under the engine, transmission, and drivetrain are gonna be covered. It's just your internal lubricated parts, but coverage is coverage, and my customers like to get the longest coverage they can get. Do you have any questions about that, sir? No, I don't. That was the setup. Wasn't it fast? What sounded like respect for your time while telling you what you needed to know about your factory warranty, but that was just a setup. He doesn't care about your factory warranty at all. In fact, most of them don't know anything about the factory warranty. What he wants to do is sell an extended warranty to the customer that he doesn't need. So, he continues on. Okay, let me quickly cover the numbers I showed you on the showroom floor, explain things in detail so you feel comfortable. Here's the top two options most people go for. The platinum fills in all the gaps in the manufacturer's warranty. It's the best coverage you can get, giving you great peace of mind and letting you sleep at night. The gold package is for the budget conscious, still giving you most of the coverage offered by the platinum package with a few minor exceptions noted here. There's also the silver and the bronze. Most of my customers are very concerned about protecting their investment, and I'm assuming you are as well. Which of these work for you? Are you a gold package type of guy, or do you go for the platinum? Go big or go home, huh? Ah, I'm gonna pass. I understand. Not all the options are for everybody, but I have to be honest, most customers choose at least one or two. Can you tell me what's holding you back? Nothing's holding me back. I just don't want the products. Well, John, I found that the reason a customer might not choose one of these options is typically for one of two things. It's either the way they are grouped, or the cost. Is it one of those two things? I guess you'd have to say it's the cost. Well, if cost was not an issue, which two products would you select? Maybe this one? Or this? What do you say if I took these packages apart and we created a custom package just for you? Okay. Okay, so let's pull that out, and this. Uh-huh, let me total this up, just a second. Okay, there we go. A custom package that's just right for you. I still think the cost is too high. Well, let me ask you this. You said you saw value in these two products. We can do a couple of different things. First, we can extend the term. That makes the monthly payment very comfortable for you. And since the banks love it when customers protect their investment, I'm very confident that they'll be happy to include it for you. Let's see what it looks like if I just bump the 60 months to 66 months. Uh-huh, okay. All right, so there's your monthly payment right there, pretty much where you want it to be, right? That's nice, but I don't believe in extending loans just to add warranty coverage. You know, that's fine. You like to pay things off faster, and that's okay. You're smart with your money. So let me ask you this. I'm sure you think it's possible you could get a door ding at Target or a tire shredded in a pothole in these terrible roads around here. Your wiper blades are gonna go bad, brakes wear out, all stuff not covered by the factory warranty. You're also not covered with any interior or exterior damages. So if you get any stains on the seat of the car, or if you get acid rain, or bugs, or tree sap on your paint, you're stuck. If you walk out to your car and pop the hood, not everything you see under the hood is de-engined. And a lot of that stuff can go bad. If it breaks down, you're gonna have to pay for that stuff somehow, right? Sure, that's to be expected. Now, because you're buying the car today from our dealership, we're gonna be able to match the coverage to your driving habits instead of some arbitrary dates like the manufacturer warranties. And we'll be able to take the whole thing out to five years, 100,000 miles. You have to agree that's a lot better than where we started. Zero out of pocket, bring it back here, we fix it. No questions asked. That peace of mind has gotta be worth something, right? Sure, that makes sense. I'm gonna stop this right here because the customer is caving in on something he doesn't want or need. The finance guy will give him a break for a second, moving off the subject to other products like gap insurance, et cetera, because he wants to ice the impression that you have an agreement now to buy a warranty. Out of curiosity, were you guys getting sold on this warranty package that he was pitching? Yes? Well, that's exactly how it happens. Now, let me tell you what you had to do way back in the beginning if you wanted to stop this overbearing sales presentation on the extended warranty if you wanted it just to stop. Here's the finance man's line in the beginning right after you say no the first time. I'll replay that for you. Okay, let me quickly cover the numbers I showed you on the showroom floor. Explain things in detail so you feel comfortable. Here's the top two options most people go for. The platinum fills in all the gaps in the manufacturer's warranty. It's the best coverage you can get, giving you great peace of mind and letting you sleep at night. The gold package is for the budget conscious, still giving you most of the coverage offered by the platinum package with a few minor exceptions noted here. There's also the silver and the bronze. Most of my customers are very concerned about protecting their investment and I'm assuming you are as well. Which of these work for you? Are you a gold package type of guy or do you go for the platinum? Go big or go home, huh? I'm gonna pass. I understand. Not all the options are for everybody but I have to be honest, most customers choose at least one or two. Can you tell me what's holding you back? Nothing's holding me back. I just don't want the products. Well, John, I found that the reason a customer might not choose one of these options is typically for one of two things. It's either the way they are grouped or the cost. Is it one of those two things? Now pay special attention. Here's where your response had to be different back in the beginning. Let me make it clear. I've done my homework and I'm not interested. There's no other questions to ponder. No, that's okay. I just wanted to be clear because most customers- You're misunderstanding me. I am not most customers. I do my homework. I know what I'm talking about and I'm telling you no. If you get lost in the weeds about warranties or any other products again, we'll end this conversation right here and I'll go someplace else and find a dealer who wants to sell me a car without all this hassle. Notice that the customer just stepped in and interrupted the finance man's word track. You have to be firm with your rejection with the finance man, just like this guy was. The finance man knew immediately that he was beaten at his own game. Being soft does nothing. They'll word track their way around everything you say if you're not firm. That's their training. They are not trained on the customer who responds like this. If you get lost in the weeds about warranties or any other products again, we'll end this conversation right here and I'll go someplace else and find a dealer who wants to sell me a car without all this hassle. You have to put the brakes on it right away. You're losing both time and money by letting this shark ramble on with his fast talk, telling you the whole time that he respects your time. Isn't that funny? He respects nothing except being able to go to those Saturday morning sales meetings and tell everyone that he crushed it today on your car deal. He'll earn cheers and high fives and he gets to keep his job. That's the only thing that matters. The closing lines of a finance officer, like those you saw depicted here today, is the training that quite a few car dealers are willing to pay big money for and it does more to expose those car dealer owners for who they really are than anything we could ever say on any videos we do. I hope this role play on the finance officer's closing lines added some helpful perspective to your future car shopping experiences. Never forget to watch this video before you go car shopping. Trust me, you'll need the refresher and you'll keep thousands more in your pockets if you do this again and again. It's the goal of everyone here on the Homework Guy team to turn you into the best equipped car buyers out there and that's why we publish all of these great videos today. Didn't we crush it? If you found this video helpful, give us a big thumbs up, share it with your friends and drop a comment down below. You doing so could save your friends and family thousands of dollars. We love hearing your car buying success stories because they don't just help you, they protect the entire Homework Guy community. As I said a few moments ago, if you want written OTT quotes, professionally handled negotiations, documentation oversight and a walkaway strategy in place, that's exactly what our car coaching team does nationwide on both new and used cars. It's completely hassle-free. You remain the decision maker, we handle the negotiations and the structure, nobody ever overpays on a car with us, guaranteed. Lastly, if you prefer more short, direct car buying insights, make sure you follow us on the other platforms we're on, TikTok, Facebook Reels, X, LinkedIn, Pinterest and Instagram, where we break down dealer tactics in quick, easy to use segments. If you prefer tighter, faster shows right here on YouTube, check out our other channel, Car Buying Fast Tips. Those episodes usually run three to six minutes and are always on point. To all of you longtime viewers and subscribers, you guys rock. God bless you all. I'm Kevin Hunter of the Homework Guy, signing off on behalf of Alex Stevens, our auto expert, the amazing Elizabeth, our master negotiator and the entire hassle-free Homework Guy car buying team. Stay with us a moment as we scroll through some of our recent five-star Google reviews and friends, there are some great ones out there. Thank you for watching.