Pros
Low base salary, High-paying Commission
Cons
Extremely high stress, and unrealistic metrics for the current state of the economy. The product penetration percentages aren't realistic for the currently higher interest rates. Autopay wants you to sell the same amount of product in a recession as they did when the economy was doing well and rates were low. Upper management twists Loan Specialist's arms, to twist the customer's arms to enter into loans that do not offer a tangible net benefit and often cost the customer way more in the long run on a depreciating asset. This puts customers further upside down in the new loan. The added negative equity and longer-term (from products/fees) in the vehicle loan are likely to prevent the client from obtaining favorable refinancing terms or trading in the vehicle in the future. They also encourage Loan Specialists to extend out the customer's loan term to the max length inorder to fit the costs of vehicle service contracts, Oil changes, and Gap coverage into a lower payment. However, they advise Loan Specialists not to mention the total overall loan costs in those scenarios. Which oftentimes causes the customer to pay many thousands more for the same depreciating car that the client already owns. Instead of encouraging Loan Specialists to be honest and transparent about total cost, they want you to only sell a slightly lower or even worse a higher monthly payment/overall loan costs.