I had totaled my vehicle in July and my credit isn’t the greatest but thank god I have Carmack Car capital on my side fighting to get me Into a new car! And, if you do the math on a 500 RO (Customer Interaction) Service Drive and the typical 100 car store, you can expect to pay $50000.00 to get results that are somewhere north of say $145,000.00 in Gross Profit from the sale of those cars, or, you can spend $5000.00 in your Service Department ($10.00 per Customer) for a $153,000.00 Gross Profit return.
FLUFFING: Where a dealership employee fluffs” up a customer’s credit application information in order to get a vehicle loan approved, typically by increasing the stated income amount, decreasing the housing cost number, etc, to make it appear that the customer has a better credit-worthiness than is true, most often without the customer even knowing it is happening since the customer does not see the application after they have signed it and given it to the dealer employee.
They said first I need to change the PCM (car computer) this cost me around BD300.000 and the problem was not resolved, then they said you have to change the injectors as well, this cost me around another BD300.000 and the problem remained, then they advised to change the O2 sensor, at around BD50.000 where I said i paid already this much then BD50.000 wont hurt.
NEGATIVE EQUITY: Negative equity means that your trade-in vehicle has a fair market value that is less than what you owe on it. This could be because you have not owned it very long and you still owe a very high payoff on it. It could also be because the last dealership you traded a car in, and who sold you this one, started you on this negative equity” cycle.
Quebec-based BMW and Cadillac dealer Marc Bourassa was formally confirmed as CADA’s 76th chairman at the national association’s Board of Director’s meeting in Toronto in October after taking over the role in July from then Chairman Harry Mertin who had to step down after selling his dealership interests.