How can mortgage loan officers and car salesmen sleep at night after ripping off so many people?

Question

After documenting myself, doing a lot of homework, negotiating, etc, they still try to rip off by slapping fees that were not there, doing wrong calculations by "mistake". It is a continuos fight to save my wallet from these scum bags.

Answer 1

welcome to the world of hard knocks -- i agree with you!!!

Answer 2

This works both ways ( and I do not sell mortgages or cars). Although there are always people who take advantage of ignorance in every profession, I like to think that some people need to take some personal responsibility. If you are in debt, stop borrowing, if you are buying something, buy what you can afford, not what you want. If you want more than you can afford, wait until you spend some time and effort saving money, educating yourself on the purchases and then go get your car or house or whatever it is you can afford. You cannot be taken advantage of if you are spending the time and effort to make good financial decisions

Answer 3

im a vehicle broker. maximum dealerships and salepeople dont "rip" human beings off. the actual subject is which you're figuring out to purchase an costly product. the customary income is in basic terms approximately 4% on an vehicle. no longer each sale, yet customary. the customary income on a shirt at walmart is approximately two hundred%, jewely 250%, and a few retail shops upward push as much as 500% income. sellers could mark automobiles "up" with a view to instruct a income to a shopper. in case you tell a shopper there is only $1000 mark up in a vehicle they under no circumstances have faith you no rely if its actual or no longer. I easily have form new automobiles that have not have been given to any extent further than $4 hundred mark up in them from fee to decal value. thats much less income than the diamond ring you acquire your spouse/female chum. the broker does no longer rip human beings off. automobiles can and do smash down, there is not any crystal ball that asserts no rely if or no longer an engine or transmission is going to bypass out. are there cheating people who sell automobiles...specific...there is cheating human beings in any company. yet as an entire, vehicle salesmen are in basic terms company human beings attempting to make a residing. maximum vehicle salesmen sell onlyu 8 to ten automobiles a month, and would desire to make a residing off that. a $2000-3000 income is a small volume once you communicate your figuring out to purchase a $20k to $30k+ motor vehicle. once you purchase a house the realtor gets 6% off the perfect and every physique seems to be ok w/ that. financing is comparable. can the broker make money on that area. specific. yet they are additionally arranging some thing that maximum folk dont opt to fool with. in many cases a broker can get extra effective costs/words, down value strategies than what a interior of sight economic corporation or credit union delivers. interior of sight banks and credit unions additionally dont help your credit like a countrywide economic corporation/lender can. I easily have specific creditors that count form interior of sight banks and credit unions for 0.5 the credit a gmac/ford/chrysler/toyota/nissan and so on...lender can provide, of their inner scoring structures while determining a shopper. if i make $2000 on a shopper 9 cases out of 10 they seem to be a satisfied shopper. when I sell a vehicle for $500 decrease than my fee (and we do extra in many cases than you will have faith) that shopper is under no circumstances satisfied and pretty much continually a discomfort in an prolonged time.

Answer 4

They sleep well at night because all they care about is the money.
Remember, you are the one that has to look out for yourself. DO ALL YOUR HOMEWORK and know whats up before you make financial decisions. NEVER sign anything unless you fully understand it.

Answer 5

If someone sells you a sand beachfront in Antarctica and you buy it, who's at fault here ? The mortgage folks offered the product. It's up to the borrower to know what he/she is getting into.

Answer 6

How can gullible borrowers sleep at night after allowing themselves to be ripped off?