I can't believe I listened to the whole thing......http://www.thisamericanlife.org/radio-archives/episode/513/129-cars?act=0#play
Car sales....behind the scenes
- Thread starter GNRick
- Start date
TexasT
Texas, Where are you from
- Joined
- Sep 10, 2002
I thought that was common knowledge. I also have found the end of Jan and Feb are particularly good as they haven't sold anything so they get excited to do the deal.
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I wonder if that is really the truth, or if these guys are giving BS profit numbers since they are being recorded?
- Joined
- May 28, 2001
3% on the unit, kickers on the financing, ins, "dlr installed stuff". MUCH higher on the options.
I worked for Chevrolet as a field rep. Every yr, we delivered millions in hold back $$, to the dlrs in our zone.
I worked for Chevrolet as a field rep. Every yr, we delivered millions in hold back $$, to the dlrs in our zone.
I just came from the Nissan dealer checking price on rear axles for my 1982 280ZX. They want $900 for the pair. Service guy spent 10 minutes trying to explain why Nissan parts are worth the money. I told him I already bought the P/S axle for $75 from Oreillys and I can order the d/s for $100 from an ebay site. I had the axle with me and I would show it to him so he can tell me why it is inferior. He didn't want to look at it, saying the joint is covered by the boot so he wouldn't be able to tell anything.
Most dealerships would fail if it wasn't for used car sales. Many fail even with them.
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There is excellent money to be made in the "buy here, pay here" rock lot scheme. Granted, you're not dealing with the highest level of clientele, but after a short period of time, you can hire somebody to do that stuff. Military towns are full of them and many make a mint. People talk smack about these places, but if they did no business they wouldn't exist. Sure wish I owned a few of those lots...
Regards,
John
Regards,
John
The key is getting a bank to work with you. If people can get approved there are endless sales. The general public doesn't have shit for money. Average American family savings acct is $3800. People don't have any money. They rely on their credit of which a lot of them have shitty credit to buy everything. Cars under $5000 are way over priced because of it. The lower savings brackets also have the lower credit scores. Get them to put down $3000 on a $6000 car and pay 20-25% interest and they will do it. It's a win for the car lot and the bank. I'm amazed at the amount of $$$$ the average American throws away in interest on crap they may never own. Seems they like to buy a lot of cheap wal mart crap too.
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So......freaking....true!!!!!!!!!!!!!!!!!!
I had some friends ask me and my wife how we live so well. My wife replied stating that if they want to let that cat out of the bag we can talk. They were confused. We started asking them about credit card debt, car loan interest rate, etc. We were blown away at the money they threw away in interest. I worked my ass off for years having two jobs to pay everything off but the mortgage and that got us ahead of the game. Now when we buy new cars, we either have cash or end up financing for a a few months if we are a few grand short. I recently decided that I wanted a brand new F150 Ecoboost FX4, so we de-modded the Flex and Titan, sold one, traded the other, Craigslisted all the leftovers, sold a bunch of tools I don't need, and now I own a brand new truck free and clear. I'll own my house outright in 5 years. At that point, anything I move into will be worth the same or less. No mortgage for the rest of my life.
Ok, off my soap box.
TexasT
Texas, Where are you from
- Joined
- Sep 10, 2002
And the extended warranty. Who buys this?
I was in harbor freight Saturday picking up my free flash light and some consumables. The consumer in front of me checking out was buying a $20 grinder and the clerk asks if he wants the $10 two year warranty. Again, who buys it?
I guess it is a way to add free money to the bottom line. I can't imagine trying to collect on one of the warranties.
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I was in harbor freight Saturday picking up my free flash light and some consumables. The consumer in front of me checking out was buying a $20 grinder and the clerk asks if he wants the $10 two year warranty. Again, who buys it?
I guess it is a way to add free money to the bottom line. I can't imagine trying to collect on one of the warranties.
Posted from the TurboBuick.Com mobile app
