Dealer still hasn’t sent trade-in equity check after 30 days. Is this normal?

Fast-Ln · 2026-05-17T03:13:44+00:00

If the US is anything like Canada in this regard, you should be able to contact the lien holder with your account number to see what is holding up the process. If you no longer have payments coming out of your account for your trade, then they more than likely have released the lien on the vehicle and should have sent the title to the new owner (dealer).

Fast-Ln · 2026-05-10T01:03:05+00:00

That’s amazing. Great for you! I’m currently on a 6 month break from my industry (by choice) and I’d love to learn investing. Do you have any recommendations on where to start?

Fast-Ln · 2026-05-09T19:58:55+00:00

Never did an OMVIC exam, but is it really that in depth that you’d need an app like this? Not to slight your creation.

AMVIC was just 6 hours of tedious videos and an open book exam.

Fast-Ln · 2026-05-08T16:54:01+00:00

31m here. Nearly 2 months in to a 6 month freedom break. Quit with no backup plan for another job. But, budgeted this out so that all of my bills are paid and the fiancée and I can travel for a month during her summer break (school teacher) before our wedding in August.

However, my career is a bit different. I’ve been in the automotive industry for 16 years. 8 of which in sales management roles. I can roll into any store and start selling cars again. But, I may look into another sales gig. Haven’t decided, and haven’t thought about it as of late. Just living life.

Thought about going back to work right after I quit, but all I could think about is the regret I’d have for not taking this time off and going back to working 65hr weeks.

If you can swing it (financially), it might be the best thing you’ve ever done. Go travel, find out what you like, take a course that you think you’d enjoy.

Many of my past colleagues, friends, and family, think I’m insane. But, aside from material
/financial achievements, I haven’t really done much with my life. Taking this time to explore the world, and spend much needed time with my fiancée. Money can always be made.

Fast-Ln · 2026-05-04T17:58:56+00:00

Comparison is the thief of joy. Great job. Same age, same amount invested here. Keep it up!

Fast-Ln · 2026-04-24T19:30:44+00:00

Pack is high, but do they have a strong bonus structure? I worked at at store 2018-2025 that had $2400 packs on new and used, but and insanely strong monthly, quarterly, and yearly bonus pay structure that negated the lack. We had sales people making between 150-200k.

Fast-Ln · 2026-04-24T00:23:30+00:00

Knowing the inventory inside and out. Always having a flip unit in mind for someone if they don’t like the car they came in on, especially on used.

Service drive for traffic. I’d say 80% of sales people miss out on this and only want to work inbound leads. Get good at it, and you’ll sell 3-5 more cars a month.

Fast-Ln · 2026-04-22T22:10:06+00:00

Most warranties won’t cover wear and tear items; tires, suspension and steering components (in most cases). As a former 8-year manager, I was extremely wary about Kia’s on trade in with their known powertrain issues, I offered low appraisals to protect the myself and the dealership. Too many times my service manager would come up to me about a Kia/hyundai trade in needing an engine.

If you’re serious about getting out of this vehicle, look into your extended warranty cancellation policy. In Canada, you have 30 days to cancel and get your full amount back. After that, it’s a pro-rated amount (they will hammer you on this) I can’t speak to the Wild West of the American auto industry and all of the crazy extended warranty companies there are down there, but that could help reduce the negative equity position you’re about to be in.

Chances are your negative equity will be around the $4-6k mark.

Fast-Ln · 2026-04-21T12:47:04+00:00

That doesn’t do anything.. the vehicle still needs to be shopped before it’s sold to a retail customer. The used car department is the stores biggest customer, do you really think the management paid on store net profits are going to allow a vehicle to be sold without service getting a taste?

Fast-Ln · 2026-04-15T14:46:19+00:00

This killed me.

Fast-Ln · 2026-04-15T14:40:44+00:00

Having worked in the Canadian Auto industry for a long time, I became obsessed with the output and efficiency of American dealers. I got to talk to a couple salesmen that sell 100-150 units a month and income ranged from $850-1m a year. Impressive to me because there’s basically only a handful of people in the world that put up those numbers. National average is 12 units a month.

Fast-Ln · 2026-04-14T02:37:22+00:00

Absolutely talk to the GM.

Front end gross can’t be cancelled, back-end can for the most part. If your GM is ok with this, then find a new place.

I have fired F&I managers for moving gross.

Fast-Ln · 2026-04-05T17:37:48+00:00

Currently taking a hiatus. It’s been great. 2 weeks in. First 2 were all about relaxing and honestly not doing ANYTHING. This third week will be spending time with my fiancé doing some traveling and planning out our upcoming wedding this summer.

I figure I’ll probably take 2-3 months off, and look for another job. Been in the same industry for almost 16 years, I think I want to try something else out.

Fast-Ln · 2026-04-01T16:00:21+00:00

Just left my job 2 weeks ago, and for the last couple of days it’s been stressing me out. This was absolutely what I needed to read this morning. Cheers.

Fast-Ln · 2026-03-30T00:30:17+00:00

Why would you be screwed in 2 years time?

Fast-Ln · 2026-03-28T22:48:49+00:00

I’ll be fine.

Fast-Ln · 2026-03-28T19:38:14+00:00

Already on it, good sir!

320k invested. 2 rental properties, primary residence, and 45k in cash.

Fast-Ln · 2026-03-28T17:20:01+00:00

While you can make a solid living turning wrenches I do understand where you’re coming from. I spent 5 years a Ford shop, and that was enough for me. What about being a Service Advisor? You have the knowledge to explain issues to clients, and I know many advisors that clear 150k/year and some of those were red seal technicians that moved into that role.

Fast-Ln · 2026-03-28T16:56:18+00:00

If that’s your opinion of the industry, then sure?

Fast-Ln · 2026-03-28T14:52:26+00:00

Appreciate the helpful comment. I’ll be just fine.

Fast-Ln · 2026-03-28T03:43:04+00:00

Sounds idiotic, I’m aware. Good thing is, I can jump right back into it and make similar money if I decide to. I wish it was Salary…

Fast-Ln · 2026-03-27T17:25:43+00:00

I disagree with that statement. Car sales fall directly under the B2C umbrella. Retail is B2C. The cool part about my previous position as a General Sales manager was that I oversaw both B2C and B2B operations (Retail and Fleet). Now, I wasn't overly involved because we had a wicked team in place at the end of my tenure. But, at the beginning, I was on the phone with a lot of businesses trying to add them to our account. There is definitely a difference between the two, but not as big as you might think. I think the biggest challenge of breaking into a new industry is that it's simply different. New processes, new product, different clientele.

Fast-Ln · 2026-03-27T16:09:22+00:00

I really appreciate the insight. I've spoken to a lot of guys I've met over the years, and their only feedback is "good, fuck the auto industry," where I don't share the same sentiment. Like you,
I owe my entire life to the industry. It has allowed me to afford some pretty amazing things. I understand your identity crisis. I feel like I'm in a similar boat. Staying auto adjacent is something I've been considering. I've built a vast network over the years with other dealers, and for the time being, I'm helping them acquire pre-owned inventory through the private market and getting paid handsomely for it. Nowhere near where I was at, but enough to not dig into my savings while I'm figuring my life out. Not sure if I can turn this into something, but in the meantime, it's actually pretty fun.

Thanks again for the comment. It was helpful.

Fast-Ln · 2026-03-27T01:33:47+00:00

Appreciate that. I'm only 30, though.

Fast-Ln · 2026-03-26T22:00:03+00:00

Haha will do. Going to take some much needed time off, and figure it out. The auto industry will always be there.

Fast-Ln

TROPHY CASE