Dealing with car dealers... yuk

[kahuna123]

Re: Dealing with car dealers... yuk

Regardless of the previous post about how great we are and honest and we own a car dealership that's crap. Complete crap. You don't see a lot of PHD'S selling cars. Most people can't sleep at night after doing that to someone. They move from dealership to dealership after committing so many overts that can stand to be there anymore. And the really bad ones stay there because they don't have the least bit of decency.
It may be different up North and more of a profession but down here its for criminals and losers. Imagine standing around all day waiting for an "up", Get them on a car. Get their "trade in car keys". Steal the trade. Get them to the table. Get your manager and don't let them up until THREE managers have worked them. IF they agree then get them in the "box". Finance makes much more on the back end than the sale of the car. Oh by the way my job was to stand outside the box in case the customer got too pissed and tried to leave, Do you know what 1 point is on $40,000 over 5 years?? Rust prevention.

Customer comes in with wide eyes and knows they have made a decision to buy a new car, all excited. NEW CAR!! But its early and they are going to shop. You know its not going to close. So you give them a price that no one can match. 7PM they show up been beat to death all day to buy. They sit down and say I'll take it. You ask " did you want bumpers with that?". Long story short you get in the ball park of what everyone else offered and they give in,

I can go on

 

[CharlieB]

Re: Dealing with car dealers... yuk

Can't stress enough that the Internet is your Friend.

I've purchased a few vehicles from the local Dealership, really wanted a used truck they had but they refused to come down on the price.

Started searching and ended up going 600 miles to buy the same truck only a year NEWER and $5K less, I think that more than paid for my trip!

 

[kahuna123]

Re: Dealing with car dealers... yuk

Could not agree more

 

[kenmyfam]

Re: Dealing with car dealers... yuk

Aah, no it isn't.

Have you ever been stuck behind someone in line complaining about the Wal Mart "Best Price Gaurentee?". What a show!

Hilarious !!!!

 

[fishrdan]

Re: Dealing with car dealers... yuk

Finance makes much more on the back end than the sale of the car.... Do you know what 1 point is on $40,000 over 5 years??

Ever try to get a sales/finance guy to rescind a loan???

I told them I was arraigning alternate financing, but they insisted on submitting their own financing to close the deal. I made them sign a hand written note saying they would rescind the loan the following day, before I signed off on the vehicle, which they did reluctantly. Boy were they pizzed when I showed up the next morning, check in hand and ready to pay off the vehicle,,, stompin, yellin, blue in the face, can't see straight, foaming at the mouth type of mad.

Eh, it's all part of the game,,, right?

 

[greenbush future]

Re: Dealing with car dealers... yuk

Can't stress enough that the Internet is your Friend.

I've purchased a few vehicles from the local Dealership, really wanted a used truck they had but they refused to come down on the price.

Started searching and ended up going 600 miles to buy the same truck only a year NEWER and $5K less, I think that more than paid for my trip!

Going into a dealership and expecting a fair or honest interaction is rare indeed. Having knowledge and experience in buying a high ticket item (like a car) is required unless you just don't care about $$. Assume they are there to rip you off, because most of them will as evidenced above. Not everyone has the luxury of knowing a friend or relative that owns a dealership. Here in Michigan, everyone knows someone in the auto business, and most of us have family working there, which gives us some decent discounts on new American cars. As many have stated you must educate yourself before hand, visiting the dealer should be only to sign the paperwork, nothing more. The odd's of them selling you, go through the roof once they get you there. It's their job!!

 

[BTMCB]

Re: Dealing with car dealers... yuk

I just bought a new car this weekend (G-37 in my signature) from the same dealer I bought the last one from and same dealer that serviced the previous one. Had done my research and knew what I wanted for the trade, what I wanted to pay for the new one and knew what I had spent in their service department on the last one over the years. Have bought a lot of new cars (am 59) as well as a couple of boats. This "deal" went smoother than expected ONLY because the "first" offer from the dealer was close on the trade and the new car. He knew that I was a solid buyer, good customer and treated me like he should. I made it clear that if his first offer was the typical BS game playing - I was walking. He knew that I negotiated off of "invoice", not MSRP. So, his first offer was something below invoice. I knew there was still room and after only an hour or so later, we had closed the deal. Got the car well below "invoice" but I am smart enough to know they don't "give them away", so since I walked out with the new car, I am sure he still made some money - which is fine by me. While I am not in the car business, I am in "business" and fully understand that even a car dealer needs to cover his overhead. My 02.

 

[kahuna123]

Re: Dealing with car dealers... yuk

You look at a used car for 12.5K. But wholesale is 10K. Dealer is probably in it around there. Hence with great credit the bank may go over 2K. Average now days the bank will only go wholesale so they can get out of it if they have to. Now this is where the you need 2 grand down to buy this one. ANYTIME you need a down on a used car its the difference between the real market value and what the profit is

 

[kahuna123]

Re: Dealing with car dealers... yuk

Leasing

Really the only scam left with the banks so tight.

Questions:
1. You just bought a car. But you bought it for a limited time. How much did you pay for it. The leasing company just gave the dealership a check for the car. They bought it for you based on your ability to pay them monthly, give the car back and they sell it. And buy the way they wholesale them not retail it. There's 2 grand.
2. You just borrowed x amount of money. What's your rate?
3. What's your residual. In other words what the percentage of your buying price that you are going to be credited
when you return the car?

Oh you only thought it was about how much a month

 

[CharlieB]

Re: Dealing with car dealers... yuk

Leasing

Really the only scam left with the banks so tight.

Questions:
1. You just bought a car. But you bought it for a limited time. How much did you pay for it. The leasing company just gave the dealership a check for the car. They bought it for you based on your ability to pay them monthly, give the car back and they sell it. And buy the way they wholesale them not retail it. There's 2 grand.
2. You just borrowed x amount of money. What's your rate?
3. What's your residual. In other words what the percentage of your buying price that you are going to be credited
when you return the car?

Oh you only thought it was about how much a month

That's only half the scam.

When the term expires the Dealership appraises the value of the car, if your miles are 'excessive' or the resale value of that model is lower than estimated at the time of the lease, guess who is liable for that difference?

You may be surprised to learn just how many Leaser's have subsequently bought the vehicle to avoid paying this bill, (which you agreed to in the fine print of the lease).