CREDIT APPLICATION
When bringing a deal to a manager to work the numbers, make sure the credit application is fully completed with all requested information.
When having a co-buyer on the deal, make sure to get all the information for the co-buyer. If the applicant is married, it’s required a spouse on the deal.
WORK SHEET
When bringing a deal to manager to work the numbers, make sure the work sheet is fully completed with all requested information. ALWAYS write the full asking price on the worksheet.
Show the customer the table of down payment and monthly payment; this way the customer will understand that rarely someone buys a $12995 vehicle for $1500 down and $275/mt
DOWN PAYMENT
Most of our customers are pre-approved based on the example below:
Down Payment of 25% of the total price of the vehicle and 36 months to pay the balance.
See example below for a 2017 Hyundai Sonata:
SALE PRICE: $13995 DEALER FEES: $785
ESTIMATED SALES TAX: $880
EST. TAG TRANSFER: $130
TOTAL: $15,690.00
25% = $3922 (BANKS LIKE Between 25% and 35% Down)
