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Putting this in sightings because, while it was my customer, he was never sucky to me. Quite the opposite. Which made it somewhat of a surprise when he turned into a raging ass when dealing with the sales guy.
So SC comes to me about an auto loan. Says he needs a $60,000 loan, and he's paying $15k out of pocket. Sorry, don't remember which car he ended up getting. For someone who does auto loans, I'm rather clueless about cars themselves and don't tend to remember the details of one car over another. My only real concern is what the value shows for the car so I can make certain it's worth the loan amount. Now, with 15k down, that obviously wasn't going to be an issue, but the MSRP was well over $75,000, so he was getting quite a deal.
He's approved with no problem, but he wants to know if we can beat our best rate. He straight out says that he banks with us and wants to do the loan with us, but the dealer quoted him a lower rate.
No problem. I just need the details of the other rate deal (many times very low rates have conditions of early payoff penalties, maximum terms, specific vehicle years, etc) and I can request a rate match. So he contacts me later saying he's having trouble getting the dealer to give him the details, but he found a credit union with a 2.99% deal. That one I'm able to look up online and I get the rate match approved. But SC is still wanting to see if he can get the rate the dealer told him about, which he says was 2.4%APR. I let him know I need to at least know who is offering the rate, and maybe I can find it online, but apparently it is a rate that is only being offered to specific dealerships, so won't be online. Fine. Then I need the details of the rate deal from the dealership.
Nothing sucky so far. He's totally fine with our rules for requesting a rate match.
In fact, this is out of order, but later we actually GET the details of the rate, which turn out to be 2.6% APR with a 5 year max term.
This time, management refuses the deal.
Again, no SC from him. He still wants to do the loan with us, and goes for the 2.99% APR match.
But in order to get the details for the rate that he didn't end up getting matched anyway...
SC decides to call the dealership while in my office to request that they fax the details to me. Now, I don't know what they are saying on the other side, but apparently he gets transferred to the sales manager, which perhaps should have warned me. As soon as whoever on the other line picks up...SC goes off.
No yelling. Just... rude, condescending, and very threatening. He is buying a very expensive car (which is being ordered, not something in the lot), and they will kiss his feet for the privilege of selling the car to him. In particular, he's highly suspicious of why they haven't been able to provide him with the written details of the rate they are offering.
Eventually, he gives them my fax number and gets off the phone. I'm still a little
over the sudden Jeckel and Hyde, but he very nicely tells me that the details will be faxed over,and since he's been sitting with me for a while now, makes an appointment to come back and finish things up in a few days. I promise to call him in the meanwhile to let him know if the rate match goes through or not.
So, I get the rate details, and I suddenly understand why he was having problems getting them printed. All over the sheet is special rates for *dealership name* . Exactly like the sales manager told SC, this is a special deal only going to specific dealerships, and the information from the BANK offering the rate states that this information is NOT to be provided to customers. Why? I don't know, but maybe just because the sheet also includes details of what the bank will be paying the dealership to get that loan over to them, which really isn't the customer's business, especially when they aren't even going to be doing the loan through that bank, so the sales person at the dealer will not be getting that bonus.
Anyway, as I stated, we can't do the rate match, and SC has stated to me that he's going to be doing the loan through us anyway at the 2.99% APR... but he doesn't tell this to the salesperson. Instead, at my next appointment with him, he gets on the phone again for a good 15 minutes to berate the sales person about the rate that the other bank is offering, that he is NOT going to go with anyway, is 2.6% APR instead of the 2.4% APR that he was originally told.
Yes, ladies and gentlemen, this SC takes time to yell at a poor sales guy over a price on a loan that he's not getting being higher than quoted.
I'm feeling sorry for the sales guy, so since I seem to be in SC's good graces, I take the time to try to defend the poor guy a bit. The sheet is a bit difficult to understand actually, it's not a straight out "we're offering this rate". It's a "we're offering this rate, with further discounts of % for A, % for B and % for C. Perhaps the sales guy simply made a math error on the original quoting of the rate (which, btw you've decided you're NOT going with anyway since you don't want to work with Other Bank).
SC : "You can't trust car sales guys. They're always trying to cheat you over something and getting the rate wrong is just like them. But I'm not going to let them do that to me."
He then set up another appointment with me because even though everything is ready to go, SC decides not to close on the loan yet. After all, the car is being ordered and won't be there for a few days yet. So, he makes another appointment to complete the loan later in the week.
I get a call from sales guy later, not the manager, but the guy SC is working directly with. Sales guy wants to know if the loan is completed and if we can fax him the Letter of Commitment that tells the dealer that the loan money is theirs as soon as the vehicle is titled in the customer's name. I let him know that SC has made another appointment for later that week.
I get a long-suffering sigh. Sales guys proceeds to tell me that he is making NO money from this deal. SC negotiated the price down and called in the manager to fight it down even further. Now they have the car on order, and if SC backs out at this point, they will be losing money (they usually have a deposit on orders, but he negotiated that away also).
And SC refuses to close the loan at the dealership, again for lack of trust... it's the same loan paperwork as I do in my office... so they won't even get the bonus from my bank that they would get if he did the loan there. Sales guy has put in a ton of hours on this deal, essentially for free, and is terrified that he'll have to take the flack for the loss in revenue if SC does back out.
I let him know that I can fax him the Letter of Commitment once the loan is signed for.
SC comes to the next appointment... and spends the entire time talking about other things and does not do the loan yet.
I have now met with SC a total of 4 times, had numerous phone calls and back and forth over the rate match deals, and now I'm setting an appointment, again. This isn't a huge deal to me. I get paid hourly, and he's been coming in at early morning times when we aren't very busy. Far as I'm concerned, if he wants to take the time to sit down with me multiple times over something that could have been handled in half the time, so be it. And he's the sort to question every detail, but that again doesn't faze me, especially since he IS coming in during slow times, The main reason I mention it is because of something he says during meeting number 5, when he does finally do the loan paperwork.
Apparently, he put off closing the loan for no other reason than to make the dealership and the sales guy sweat a little longer. Because "they deserve it, always trying those horrible sales tactics you hear about."
So, pretty much, he just put off the loan so he could worry the dealership that they might have to take a loss from ordering a vehicle that they haven't confirmed a sale on. Not even to negotiate additional money off the deal since he'd already taken them down to where they honestly could not lower the price more. Just because he doesn't like car sales guys. Ass.
So SC comes to me about an auto loan. Says he needs a $60,000 loan, and he's paying $15k out of pocket. Sorry, don't remember which car he ended up getting. For someone who does auto loans, I'm rather clueless about cars themselves and don't tend to remember the details of one car over another. My only real concern is what the value shows for the car so I can make certain it's worth the loan amount. Now, with 15k down, that obviously wasn't going to be an issue, but the MSRP was well over $75,000, so he was getting quite a deal.
He's approved with no problem, but he wants to know if we can beat our best rate. He straight out says that he banks with us and wants to do the loan with us, but the dealer quoted him a lower rate.
No problem. I just need the details of the other rate deal (many times very low rates have conditions of early payoff penalties, maximum terms, specific vehicle years, etc) and I can request a rate match. So he contacts me later saying he's having trouble getting the dealer to give him the details, but he found a credit union with a 2.99% deal. That one I'm able to look up online and I get the rate match approved. But SC is still wanting to see if he can get the rate the dealer told him about, which he says was 2.4%APR. I let him know I need to at least know who is offering the rate, and maybe I can find it online, but apparently it is a rate that is only being offered to specific dealerships, so won't be online. Fine. Then I need the details of the rate deal from the dealership.
Nothing sucky so far. He's totally fine with our rules for requesting a rate match.
In fact, this is out of order, but later we actually GET the details of the rate, which turn out to be 2.6% APR with a 5 year max term.
This time, management refuses the deal.
Again, no SC from him. He still wants to do the loan with us, and goes for the 2.99% APR match.
But in order to get the details for the rate that he didn't end up getting matched anyway...
SC decides to call the dealership while in my office to request that they fax the details to me. Now, I don't know what they are saying on the other side, but apparently he gets transferred to the sales manager, which perhaps should have warned me. As soon as whoever on the other line picks up...SC goes off.
No yelling. Just... rude, condescending, and very threatening. He is buying a very expensive car (which is being ordered, not something in the lot), and they will kiss his feet for the privilege of selling the car to him. In particular, he's highly suspicious of why they haven't been able to provide him with the written details of the rate they are offering.
Eventually, he gives them my fax number and gets off the phone. I'm still a little
over the sudden Jeckel and Hyde, but he very nicely tells me that the details will be faxed over,and since he's been sitting with me for a while now, makes an appointment to come back and finish things up in a few days. I promise to call him in the meanwhile to let him know if the rate match goes through or not.So, I get the rate details, and I suddenly understand why he was having problems getting them printed. All over the sheet is special rates for *dealership name* . Exactly like the sales manager told SC, this is a special deal only going to specific dealerships, and the information from the BANK offering the rate states that this information is NOT to be provided to customers. Why? I don't know, but maybe just because the sheet also includes details of what the bank will be paying the dealership to get that loan over to them, which really isn't the customer's business, especially when they aren't even going to be doing the loan through that bank, so the sales person at the dealer will not be getting that bonus.
Anyway, as I stated, we can't do the rate match, and SC has stated to me that he's going to be doing the loan through us anyway at the 2.99% APR... but he doesn't tell this to the salesperson. Instead, at my next appointment with him, he gets on the phone again for a good 15 minutes to berate the sales person about the rate that the other bank is offering, that he is NOT going to go with anyway, is 2.6% APR instead of the 2.4% APR that he was originally told.
Yes, ladies and gentlemen, this SC takes time to yell at a poor sales guy over a price on a loan that he's not getting being higher than quoted.
I'm feeling sorry for the sales guy, so since I seem to be in SC's good graces, I take the time to try to defend the poor guy a bit. The sheet is a bit difficult to understand actually, it's not a straight out "we're offering this rate". It's a "we're offering this rate, with further discounts of % for A, % for B and % for C. Perhaps the sales guy simply made a math error on the original quoting of the rate (which, btw you've decided you're NOT going with anyway since you don't want to work with Other Bank).
SC : "You can't trust car sales guys. They're always trying to cheat you over something and getting the rate wrong is just like them. But I'm not going to let them do that to me."
He then set up another appointment with me because even though everything is ready to go, SC decides not to close on the loan yet. After all, the car is being ordered and won't be there for a few days yet. So, he makes another appointment to complete the loan later in the week.
I get a call from sales guy later, not the manager, but the guy SC is working directly with. Sales guy wants to know if the loan is completed and if we can fax him the Letter of Commitment that tells the dealer that the loan money is theirs as soon as the vehicle is titled in the customer's name. I let him know that SC has made another appointment for later that week.
I get a long-suffering sigh. Sales guys proceeds to tell me that he is making NO money from this deal. SC negotiated the price down and called in the manager to fight it down even further. Now they have the car on order, and if SC backs out at this point, they will be losing money (they usually have a deposit on orders, but he negotiated that away also).
And SC refuses to close the loan at the dealership, again for lack of trust... it's the same loan paperwork as I do in my office... so they won't even get the bonus from my bank that they would get if he did the loan there. Sales guy has put in a ton of hours on this deal, essentially for free, and is terrified that he'll have to take the flack for the loss in revenue if SC does back out.
I let him know that I can fax him the Letter of Commitment once the loan is signed for.
SC comes to the next appointment... and spends the entire time talking about other things and does not do the loan yet.
I have now met with SC a total of 4 times, had numerous phone calls and back and forth over the rate match deals, and now I'm setting an appointment, again. This isn't a huge deal to me. I get paid hourly, and he's been coming in at early morning times when we aren't very busy. Far as I'm concerned, if he wants to take the time to sit down with me multiple times over something that could have been handled in half the time, so be it. And he's the sort to question every detail, but that again doesn't faze me, especially since he IS coming in during slow times, The main reason I mention it is because of something he says during meeting number 5, when he does finally do the loan paperwork.
Apparently, he put off closing the loan for no other reason than to make the dealership and the sales guy sweat a little longer. Because "they deserve it, always trying those horrible sales tactics you hear about."
So, pretty much, he just put off the loan so he could worry the dealership that they might have to take a loss from ordering a vehicle that they haven't confirmed a sale on. Not even to negotiate additional money off the deal since he'd already taken them down to where they honestly could not lower the price more. Just because he doesn't like car sales guys. Ass.
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