Accountability check! This chapter is about pay plans in the car business. No matter what business we are in we are a "Product of Our Pay Plan," or P.O.P.P as I was taught. 1. Sales - full-commission (draw, meaning if you do not sell cars that month, you owe the dealership money the next month). With bonuses, there were about 4-6 ways to be making money every month. In Michigan, it claims the average salary was $33,700 for car salesman. The least I ever made in a full year selling cars was $86k and that was my first full year, the other 5 full years were 6 figures. I knew people making $200k+ as salepeople with no college degree. 2. Sales Manager - salary or draw plus % of profit for department. Depending on brand, people could do very well in this role. One manager I knew during Covid times was on pace to make $50k a month as a sales manager 3. Finance Managers - salary or draw plus % of profit for products sold with production bonuses. The range for not so great to very great finance managers $100k - $400K+. Just to give you an example of what a finance manager texted me this week, you could get a big discount on a vehicle and then have this happen on the financing piece of the car deal where the warranties and insurances are offered: (click on to see attached image)

Accountability check in. @Dani Rosenblad James has been mushing me like a sled dog to get chapters done, hahahaha, jk, not serious on that. She is doing a great job keeping in touch and encouraging progress and making herself available if I need any help or direction. This chapter is about the benefits and costs of leasing versus financing or cash purchases. I am not saying leasing is for everyone, but I'll share a handful of the benefits on why I chose to lease for my first new car purchase: 1. Discovery - if there are things that are wrong with the car or this specific one has unique issues, it is nice to "rent" or lease it before owning it. I am glad I did because it is having some issues and those are all covered under warranty, but I would not be excited to be owning this specific car right now. 2. Option versus Obligation - when approaching lease end you can turn in the lease, buy it, or sell it to a dealership or an individual and keep any equity above the lease buyout price. When buying a car, we own it with all its problems and required maintenance to keep warranties active as well as buying tires, doing brake work, major service intervals, etc. 3. Taxes - when buying a car the full tax burden is applied at the time of purchase. Leasing is like paying a use tax. It is the pre-tax payment amount multiplied by your state's tax percentage. For example, in Michigan 6%, a $400 payment with tax would result in at $424 monthly payment. 4. Covered - usually during leases you are within the warranty coverage the entire time you are in a lease. You may have already known most of these, but thought sharing little blurbs of ideas could be helpful to anyone that will be buying or leasing a vehicle in the future. Happy writing!!

If you are new to the community, need help with writing and publishing a book in 6 months, then Book the FREE 1-1 Kickoff Call with me. 🤔What usually happens during the calls? 1. Say hello and get to know each other better 2. Get access to my international bestselling book framework   3. Q&A if you have any questions about writing or publishing PS! You don't need to feel ready to book this call. If you joined the community and you're reading this... you should hop on the call. That's it. ‼️Don't overthink. BOOK THE CALL NOW. It's FREE and only 15 minutes and I know you have 15 minutes. No excuses. P.P.S- If none of the times work for you, please reach out to me. I might be able to make it work so that our time zones can work out! See you in the call! -Dani

Thank you @Dani Rosenblad James for holding me accountable and checking on me! This chapter is about financing products after selecting the vehicle you are going to purchase, here is an outline so you can educate yourselves and save money if you plan on purchasing a vehicle before my information is available to the public: 1. Financing - some dealerships will mark up advertised rates to be able to get people comfortable with a higher payment so when it comes time to offer a warranty or other product, we are already accustomed to that number or range. 2. Leasing - there is absolutely an interest rate associated with leasing a vehicle and in almost all cases on first offer that rate is marked up. When we see billboards, Lease payments are advertised, not the price of the vehicle or the interest rate, whereas when financing, the price of a vehicle is not advertised but the interest rate is. 3. Guaranteed Asset Protection or GAP insurance - online, this was offered at a price of $999, which is more than a 300% markup, and if you did not see the online ad, was offered at $1,295 or over 400% markup. 4. Extended warranties or Vehicle Service Contract (VSC) - the cost on these for the brand I worked for was usually in the $800 to $1,500 range. The price they were offered depended on the individual finance manager and what they felt confident they could get a customer to agree to. With Subaru, as long as the amount that warranty was sold for was under $5,000 ($4,999) it was not scrutinized by the manufacturer. Just know that in many cases these are marked up anywhere from 100-500%, definitely wiggle room here. 5. Paint Protection - though some products can be very good, I've seen this offered as low as $499 at some dealerships up to over $2,000 per vehicle. Cost on this where I worked was at or around $300, so when I left and they were selling it for $1,495, that is almost exactly a 500% markup! 6. Tire and wheel and other cosmetic coverages like dent repair - usually minimum 100% markup if not more

Hello all! I am writing a book revealing the secrets of the Car business. I am from Michigan, where automotive manufacturing is a huge part of the state economy. The car business has a life of its own up here. Some free information: after having selected the vehicle that you were buying, and going through either the financing or registration process, the markup on those products is huge. If you’re buying an extended warranty, it is really at the discretion of the financing manager, how much he will try to charge you for it. Sometimes those have 100%, 200%, 300%+ markup. Another item with very big markup is the paint protection. Our dealership ascribed about a $300 cost to that protection and then would charge close to $1,500 for it, that’s a 500% markup! In some dealerships charge even more than that! This is just one example, but my aim is to make the average consumer or anyone buying a car well informed so that they feel comfortable and confident that when they do decide to make a decision that they feel they have done so in manner they feel good about. If anyone enjoys this info and you are curious to hear more info like this, please mention in the comments.