A customer can beat this price. Sometimes they are WAY off on what the consumer can get the car for. Sometimes they are pretty much exact. That is why I say these sites are only good for guidance. Good old internet shopping is the way to go.
YES, yes, and yes, to a point. I don’t steer based on appearance, though. I have seen multi-millionaires come in with five dollar shirts, and dirt-poor living a dream people come in wearing suits are prettied up from church. But you have to pre-qualify. Hell, everyone prequalifies (First impression is everything). But I do it in a different way. I look to see if a guys hands are manicured, if the woman has a real designer handbag, on bumper stickers on cars, everything. EVERY good salesperson does, and so does every normal human being. You have to try to figure your customer out.
If you steer a car based on appearance, that would be running into discrimanation. I don’t do it, BUT it does happen. I always recommend to anyone looking to buy a car, let them try to discrimate, let them do what they want, and buy the car from someone else, after writing a letter all the way up.
No, I am not instructed to be pushy, but sometimes you have to be. What I tell my customers is the following line (and it is the truth for me): “On your side of my desk, it is personal. On my side, it is business.” I am NEVER rude, UNLESS the customer is rude to me. If so, I will ask them if they prefer someone else because I deserve respect if giving it. It usually shuts them up.
I sell new cars and used cars, but the used cars are not your typical 1995 190,000 mile AS-IS cars. I don’t work at a buy here, pay here place if you are asking.
Why do so many car dealers not like to give time to think it over? Because 99% of the time you want to shop. It is fact. Most high end dealers do give you time, especially with the 100k+ price tags. But if we can do the sale now, so be it. USE THE INTERNET.
Here, I get 5% of all back end profits (warranty, finance, etc.). Remember, that is PROFIT, not how much the client paid. Remember that in most states the cost of a warranty is set by insurance laws and CAN NOT be changed.
I never asked a customer if their car has rustproof. I ask about accidents and paint work.
I get 5% of all back end profits. About rates, it is said over and over again, but nobody listens. THIS ORDER IN BUYING A CAR: Negotiate price. Negotiate trade. Find out finance rates, even ask them what their buy rate is. Don’t expect them to give you the buy rate, let them make some money. They will no matter what. Asking them how much they hiked the rate up by. One point is definitely a good deal for you.
As far as how much is made of 3 points, it depends on the amount financed. Every point at 60 months is 47 cents per thousand financed per month (add it up). I have seen 7-8k in finance profit, meaning 7-8k that the dealership made extra profit on.
I have never bought a car from a dealer. Only my parents, and they got huge hassles, and my SO’s parents, and they had even bigger hassles. Any advice you can give? How do we get the best deal? How do we get a car without hassles? What’s the best way to approach the salesman?
Do you ever make promises to your customers for free service, details or anything?
I ask because when I got a Mazda back in February, the salesman came back from his meeting with the manager and said the actual price was $500 more than he’d quoted me, but he’d make it fair by giving me an IOU for two details worth $250 at the Infiniti dealership next door (part of the chain). Now, of course, I’m trying to call that IOU in, and it’s “Yeah, they can wash it right back here (at the Mazda dealer) - they don’t shampoo anything, no, but they wash it real good.” For $250, I could have it expertly detailed somewhere else. And when I called the Infiniti service department, they said they only detail Infinitis, never any other kind of car.
I doubt that, if I do get it detailed, they’ll do anything but the regular pre-delivery once-over. But have you ever promised a customer something like that and then fudged it later?
What is the best way to use the internet for car shopping?
Also, I can’t see it as being worth anything for buying a used car, and I’m probably going to go that route in the future (depreciation was no big deal when cars cost $5K, but now I tend to think that buying a new car is just pissing money away).
Shop on the internet. It is the way to go. Figure out exactly what you want, contact every dealer within a hundred miles and see who gives you the best price. Or you could go to a dealer, find a salesperson, find the car you like, DO THE INTERNET thing, and go back to the salesperson with your best deal.
However, I actually do mind dealing with salespeople. If they treat you nice, BUY! Go in on an ad and you will get a good deal.
Yes, and if you want these, always get it in writing, and try to get it after you negotiated everything, but be nice about it. Once again, GET IT IN WRITING.
Go to a site, pick out the car you want, and submit quotes to as many dealers as it will let you. Always return calls and e-mails. Don’t not put a phone number because they will not think you are that serious. Actually talk to them on the phone to work things out a little, but make sure you get e-mails also. Go back and forth, but please be polite about it. The internet people talk to a lot of people and you need to stand out as a buyer. And don’t shop on the internet (by submitting quotes) months ahead. Do it the week before you are ready to buy.
Sometimes a used car is a good buy, sometimes not worth it. It depends on your budget, what type of car, etc.
Have you ever had a customer come in with a Consumer Reports print out listing dealer and transportation costs…and they wanted to bargin up from there?
Yes they have, and we are pretty quick to tell them NO WAY, as Consumer Reports includes holdback and everything, which we NEVER give away here. It might work at a domestic brand or low cost import.
So yesterday I met again with a Toyota salesman, with whom I can talk pretty easily, which surprised me. I know he’s kind of pitching at least one angle, even if it’s totally true, but here’s what kind of sticks for me.
He said he’s making monthly rates that would be 50-90K a year, but that he’s not that concerned with the price that I buy at, because he has a minimum payout. Later he revealed this to be $125. I make way more than that as a public school teacher, and he’s probably not selling two cars a day, or I’ll eat my hat. This is not a bombin’ dealership with acres of cars; it’s in a smallish farm-oriented town with maybe 100 cars on the lot, from what I could tell. He came around to saying that he’s sure he could get the management to go for the Costco equivalent pricing, which is $500 over invoice. I’m aware that that invoice is a real piece of work, but is there something actually fishy about this, or am I just a very suspicious first time buyer?
He is both lying and telling the truth. If he holds a certain amount of profit, he is getting paid for it. 500 over invoice is a good deal, but you could probably do better, if you really wanted to. If it is a 2006 model, they have to clear them out and they could (not definite) have some sort of dealer or retail cash behind invoice that they get paid on. Personally, I think you could at least get 100 over invoice, but that is something you have to decide.
Are there other local Toyota dealers? If so, call and see, or SHOP the internet. If not, they might have a little edge over you, and you can at least fight for a couple hundred more (i.e. my husband/wife wants me to wait until next month, can you give me a couple more hundred dollars, etc.)
Once again, I am sure he does not just get paid per unit, although there are places like that. Dealers do have what is called a ‘mini’ deal, meaning there is a minimum amount they get paid, no matter what, equalling anywhere from $50 to $150 dollars, depending on units sold, etc. They also get paid unit bonuses and the like.
My dealership has made mistakes before in numbers (errors to benefit the customer) and has no choice but to eat it. You can make a courtesy call to the client, but in reality, it is bad business to take the car back. It probably depends on laws state to state, but I am sure they would lose this civil suit. If a car dealer goes to court, they are presumed to be in wrongdoing before even stating their case.
This guy should definitely go to court and sue. Going by the report I just read, there are a lot of complaints about this dealership with the BBB, so it is definitely mismanaged. Every dealership will have some sort of complaints filed against them, some realistic and some just from people who believe (rightfully or incorrectly) that they got a bad deal.
Wonder why the DA is saying this? Assuming the article is using the correct wording and that Kieselhorst has a bill of sale, this should be an ordinary plain vanilla stolen vehicle case.
I am sure when the customer signed the contract, they had something allowing them to correct the deal if there was an error, or some type of arbitration agreement, or something. They would not just take the car without thinking they had something to back them up.
Also, just because the contract was signed does not mean it is final. He could have been financing, so the contract might not have been ‘finalized’ yet.
Yes, apparently if one of the parties makes a mistake and the other party is aware of it the sale can be voided. It sounds like a state law. Read the statement given by Heard to newschannel 5.
The dealer is claiming that the buyer new that the dealer made a mistake and that the buyer made no effort to point it out. Sort of like stealing, if you know that an item rings up for much less than the sticker price you are supposed to say something,- I guess.