Portal Forum General General Discussion Simple Pleasures… Reply To: Simple Pleasures…

#141805 Quote
Steve MNSteve MN
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davescharf wrote:

Steve MN wrote:

Cowgirl wrote:

I cannot believe how much dealers seem to not want me to buy a vehicle from them. Clearly they hate people who have their own financing.

This is exactly it. The last I looked into this, the companies made way more money on the financing than they did on the sale of the vehicle itself.

Financing is 4.8% of revenue but 29% of gross profit for an average dealership

New car sales are 52.3% of revenue and 14.3% of gross profit

Source: Fightingchance.com

That sounds like the kind of numbers I was remembering. Thanks for the confirmation.