ERIC ROSENTHAL, Vice President and Relationship Manager, Automotive Finance - Floorplan, HSBC Bank USA, N.A., Nyack, N.Y. The writer stresses that this is his opinion, not that of HSBC or any affiliates.
Don't beat up dealer for making a profit
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To the Editor:
As I read "Bill would limit finance profits" (March 20), I wondered if people remember why auto dealers are in business.
Indeed, it is to make a profit.
The F&I office can and should be a benefit to the consumers as well as an income source for the dealerships.
Can improvements be made in some dealerships?
Sure. But to limit the profit potential in all dealerships to minimal administrative fees does a disservice to both the consumer and the dealer.
Stuart Rossman, a lawyer with the National Consumer Law Center, is quoted in your article: "There should be some reasonable relationship between the services provided and cost charged to consumers."
I ask: Is anyone looking into real estate brokers? Is $15,000 charged to sell a $250,000 home reasonable?
Is a broker providing additional services worth $45,000 more when he or she helps to sell a $1 million home?
It hurts to see the automotive industry and dealers in particular always being squeezed to the point that it becomes closer and closer to impossible to conduct business.
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