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Nah, Don't think so. You Brag too much, and people that do that, usually stretch the Truth a lot more. Do you really believe that the folks here would think they would get a good fair deal from you, as many times as you mentioned Money?
I see you as a typical Car Salesman. Sorry.
A good deal is a state of mind. To some people, it's 1700 below invoice...to others, it's paying MSRP on a 60K car and paying me a 1500 commission.
I'm a master of adjusting my approach to fit the customer. I don't talk to the mooches the same way I talk to my generous customers. In the end, I'm happy to sell a car no matter what as long as the customers have a good experience and they treat me kindly as well.
You did it to yourself. If you would clearly show exactly what the cost of the car is, a reasonable rate of return, and have a transparent and informational attitude, you would not have created an adversarial relationship with all who enter.
That's pretty much exactly what I do pal and I still have plenty of customers utterly outraged that I would sell a car with 5% markup (an outrageously low number for any other industry). They expect me to give every car away.
I didn't pay attention to anything else you said because none of it applies to me
What is up with the $500 doc fee? And do you ever waive it if i go to registry myself? I've told dealers i'd rather do that and save my $500 and was told that was "not policy."
Here's the deal I'm currently working on (Lease).....I'm thinking I could squeeze another grand out of this.
MSRP $41395
Selling Price $39380.51 This is GM Supplier Pricing
Lease Rebates $ 5400
Net Sales Price $33980.51 (Total Savings of $ 7400)
Bedliner $ 375
So I'm having the biggest month I've ever had this month - 25 cars already and 43,000 in gross profit generated. I'm going to end up making 20K with bonuses in my pocket....just unbelievable. All this and my customer service surveys are fantastic.
I wonder if I have a future as a car sales trainer? Could I help teach people how to make money the way I do?
I'm sure you could. However, many dealers probably wouldn't let them sell that way. Plus, I'm sure a certain amount of it is your particular personality.
Quote:
Originally Posted by brantleygilbert
That's pretty much exactly what I do pal and I still have plenty of customers utterly outraged that I would sell a car with 5% markup (an outrageously low number for any other industry). They expect me to give every car away.
I didn't pay attention to anything else you said because none of it applies to me
So, the lines you sell don't do the typical hidden holdback, fake invoices that are pretty much endemic to the industry, at least the domestics?
I like that people think holdback is some sort of shady trick. It's built-in profit so when someone demands that a dealer make no money on the sale, there is still a little bit of profit in there somewhere. It's mind-boggling to me that people think that if a for-profit business makes money on a transaction, they got screwed over. Do you have any idea the mark-up you pay on a daily basis without even thinking about it? You probably pay more in mark-up to the grocery store every three months than you do buying one domestic car at full sticker.
It's mind-boggling to me that people think that if a for-profit business makes money on a transaction, they got screwed over.
I work in the financial services industry, and more or less I do sales. Financial/estate planning. A lot of my clients (that I let go by the way) get outraged when they see that I could make anywhere from 0.5%-7% on a transaction. My response is simple: I do this for a living. What would you say to your doctor, lawyer or mechanic?
Kind of like the OP, I disclose my compensation. The majority of my peers do not. The clients that I still have, I will have for life because I treat them well and fairly. I do not make decisions in the name of profit for me, but what would be good for the customer.
The customers that complain that I need to make a small percentage to feed my family, I "fire". I have a skill that they do not, and that I should be compensated for.
The "trick" is just to treat EVERYONE fairly. Customers and salespeople.
I'm sure you could. However, many dealers probably wouldn't let them sell that way. Plus, I'm sure a certain amount of it is your particular personality.
So, the lines you sell don't do the typical hidden holdback, fake invoices that are pretty much endemic to the industry, at least the domestics?
the holdback is 3%, it's not some outrageous number and that goes to help pay the operating expenses of a dealership - which can be extravagant. I don't get paid on that.
I've said it before, the markup in any other industry for sales is probably 5-10 times what the markup % is for selling a 50,000 car at full MSP
Banks around here won't do that, my guess is they won't do that where you are either. So it is risky to take a check, they'll probably only do it for in-state buyers. Out of state people will most likely have to bring certified funds or cash. Or they (pay for) and use a check verification service.
I do think its funny that people still believe buying with cash will all of a sudden make a dealer drop a car price an extra 4-5-6 grand or whatever crazy number they have in their heads. When you finance, the bank will wire the funds to them within 2-3 days. That time is not worth them dropping the price any more and as others have said, they the finance office is a profit center for them.
I've never heard of a dealer too stupid to pass on a cash deal because of the profit they give up though. That's just fantasyland internet fodder.
I work in a retail business that deals in larger purchases, and most of the local banks still will give a merchant a 'yes or no' when queried about whether a check would clear at that moment. That's no guarantee it will be good an hour from now, but it's better than not knowing at all.
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