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Congratulations in your new position, hope you enjoy it and make a few bucks too.
I had a friend who started working for a Mercury dealership. He said he liked selling used cars more than new. He said there was more room to negotiate so he could make more on used cars than new. New cars are pretty straightforward in pricing, but used cars offer a lot more latitude.
What do you think?
By the way, new Kias look hot and seem to be selling....in my opinion I think owning a Kia dealership could be a good thing.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
the guy that should make a killing is the one that takes a kia store, and tailors it for "grown ups". By me, the longer term store was like Mitsu (we finance anyone!) basically a glorified BHPH shop, just with new cars. And skeevy customers and sales people.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Resale should be a concern, I have been howling about it on here for at least 10 years now.
Such as, say you're buying a, I dunno, Audi A6. Get one without Nav? In Green? That car could be worth, 3 years old, $4,000 less than a black car with Nav. Meanwhile, if you REALLY want a green one you'd have to ask yourself if it's worth the financial penalty. If it is to you, then do it. If you are indifferent about color, then get a Black or White car, you'll be safe.
I remember getting into it with a guy on here once (How many times?) who was against buying one car because he would have to pay sticker or darn close while the other car was at or close to invoice. Meanwhile the car at sticker would have cost him thousands less to own but the evil dealer was going to make $3,000 on the sale. I also remember someone saying how buying a Civic (Back 8-10 years ago) was foolish when a Kia Sephia was $3k less, yet the Kia was much more expensive to own overall than the Civic because of (then) atrocious resale value.
I could probably write a zillion analogies..... Meanwhile I still love Jaguars and they have terrible resale value, I finally bought a Lexus and it's been the biggest pile of trash I have ever owned, yet it has decent resale.
Go figure!
(still waiting for that elusive Yellow Mustang that Ford won't produce).
Found a nice 2010 Escape. White with 10k miles on it for $20,995. Did the Edmunds appraisal on my 2007 Escape. Came in about $10.8-11.2k trade value. I Called the dealer and offered my 07 and $10k OTD.
He comes back with "looks more like $13k difference.
That puts mine at $7,300 trade. I just paid $13,500 for mine 10 months ago. Then he tells me he needs to move that unit as it's been on the lot for 71 days. No wonder with lousy trades like that.
Give me a reasonable trade-in and I'll move it for you.
I redo appraisals on both vehicles. No idea where he got such a low trade.
He must be using the 4 cyl book just to be cute. I'm not amused.
2010 Escape
2013 Mustang GT, 2001 GMC Yukon Denali
I like the color and it still has a year of B to B warranty.
Worth $10k difference and not a dime more.
He wants 3k profit (over normal profit) not included in my OTD offer.
Plus he doesn't get to spring the $349 processing fee. Awww poor guy.
2013 Mustang GT, 2001 GMC Yukon Denali
That being said, let's make this easy...
First 10 digits of the VIN on the Escape you want to buy, plus the Escape that you own.
On your Escape... Miles? Any paintwork? How's the Carfax? Tires? Color? Equipment? Is it a base XL/XLT with steel wheels?
FWD doesn't hurt as much in Virginia but it doesn't help.
More info, post in Real World Trade-In values and I can help.
FWIW, no offense to our hosts, but no dealer uses TMV to evaluate trades. TMV routinely posts trade-in values that are substantially above even auction prices.
Just sold a Windstar at auction yesterday... got $1,000, that was a push, TMV was $2,000.
Bill
Turned down 7 other jobs before I took this one, it's a good fit. Decided to pass on buying the Kia store.
And yes, we make $$ on used cars as opposed to new cars.... I don't actually sell cars, I run the department. I'm that evil, horrible manager that your salesman has to go check with
I get to go to auctions, buy cars, appraise trades, close deals, etc..... Been doing it for a long time, love it.
Bill
Uhoh, I thought trade and dealer retail in TMV were real and current.
OK, if you don't mind I'd like to ask you about a couple "what ifs".
How about I get the dealer to look up both vehicles in the same book,
both wholesale or both retail, as long as we're doing apples to apples. Then calculate the difference then add whatever he deems a proper mark-up?
How would you handle this request?
2013 Mustang GT, 2001 GMC Yukon Denali
Good comments on resale value BW. Why were you disappointed in the Lexus?
What is it that you like about Jaguars?
One guy I know had a job selling to large companies, but he didn't have much money to buy a new car. He liked Jaguars because he could get a 10 year old one really cheap, but most people don't know how old his Jaguar really is. They always look about the same.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Doesn't Ford have yellow Mustangs? I have seen them before. If Ford has that color at all...and I am sure they do on some vehicle can't they run it down an assembly line and paint it for a few $1000. Audi offered to paint an A4 in S Line yellow for $4000!
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I once read that you can cut to the chase a lot faster if you walk into a dealership and ask to speak to the Sales Manager right away.
Would that work?
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
We've all learned a lot of new tactics to reduce outlay
since he was here last.
2013 Mustang GT, 2001 GMC Yukon Denali
I live in an area with low volume and high markup.
I found a Mustang (in Yellow) configured exactly as I like.
It was in Katy, TX. (900 miles) I hated to see it expire from ebay.
My local dealer said he couldn't order it and sell it to me at that price.
Not enough PROFIT.
2013 Mustang GT, 2001 GMC Yukon Denali
Andy, I'm not sure why, but I treat used differently than new.
You're right about buying new with minimal give on the used Escape's price.
$10k I can do on a whim. That $36k Mustang is gonna take some research.
2013 Mustang GT, 2001 GMC Yukon Denali
Yeah. Yeah. I keep hearing about these auction trips....... I'm beginning to doubt it.... :surprise:
They may not be directly run by corporate.
One of my kids is trying to get one of those jobs right now.
My wife and I ran into one of those outsourced events a few years ago. It was set up outside a Lowes and you got a $25 Lowes gift card for driving one of the GM products they had parked in front. They must have been paid by the drive as they told my fife that she could sign up as well even though she was only going to ride along. The only GM product I remotely wanted to drive was the Pontiac G8 GT. The test drive route was a slow crawl around several streets surrounding the store. On top of that, the guy who accompanied us knew zip about the G8, telling us that the G8 was built in the US(wrong- Australia) and that a manual box was an option on the GT(ditto- only on the GXP).
In contrast, I've attended several BMW ride/drives and the personnel involved are usually pretty knowledgeable.
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
My one student was a diminutive young lady with a 2005 325i coupe fitted with a trick suspension and a few engine tweaks. She was very, VERY good. She passed every M3(E36/46/92) in her run group as well as a 135i, a new Evo, a WRX STi, and a full race Saleen Mustang. She corded her track tires on Saturday so she had to switch to her street tires for Sunday- and she was still just about the fastest driver in her run group :surprise:
And one more thing; I know what I'm buying when Publisher's Clearing House shows up on my doorstep- this puppy.
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
My local dealer said he couldn't order it and sell it to me at that price.
But, Mako, why not drive the 900 miles, and pick it up. Don't some people say they order it and it comes delivered right to their front door?
You can always take it to your local dealer for service.
Might as well get the car you want at the price you want to pay, the rest is just details you have to work out.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Curious, why not buy the Kia Store if you could pull it off. To me, Kias are hot commodities right now. They're building good cars and are at a price point where a store should get lots of traffic. Where would be the down side?
I know, I have thought about that too. It is nice to have a real live living breathing salesperson around.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
You're going to need it to outrun all those lost and forgotten relatives that show up moments after you won.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Clint Eastwood said it best- "Know Your Limitations"
Health-wise I keep within 300 miles or 6 hours max from home.
Before the 4-way I was where Richard is (Rushmore/Crazy Horse).
2013 Mustang GT, 2001 GMC Yukon Denali
Couldn't agree more. Who ever thought black was the best color for an interior must have been color blind. I think tan looks really classy in most cars because you can actually see it. :shades:
I don't like black as an exterior color but I do admit it looks good for the first 10 minutes.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
Unless, like me you keep cars until they are just piles of rust in the driveway. I took a look at my wife's PT Crusier bought new in 2009. Paid a little under $18K and Edmunds PP value is now $11,300. Yikes! It only has 12,000 miles on it! Luckily for me she loves it and will probably keep it until she can't drive any more. I'd hate to take that kind of hit.
The Eclipse is still worth over $15K private party so it's held up better. 60% residual after 3 (almost 4) years is pretty good I think.
Most people trade more frequently than me so resale should be a consideration.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I've been told that when you get down to my neighborhood ($2000 cars) TMV tends to not be accurate because there are few similar cars being sold. The conditions and milage are all over the place.
Something as simple as a new set of tires or a broken AC can skew the values so much as to make TMV useless.
Someone smarter than me said it best: "A $2000 car can be worth whatever you want it to be worth.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
$10k for a 3 year same vehicle jump sounds good, but what's to say the newer one won't hit the skids trade wise in short order?
I also dislike black interiors. I liked GG's word-Cartoonish Interior. (that makes me laugh). I like light gray with blue stitching (Explorer Limited had it). Two tone is nice too. I'm a sucker for a nice interior.
2013 Mustang GT, 2001 GMC Yukon Denali
For example, when I'm looking, I get TMV for the entire Kansas City metro area. I live in a way-out suburb, where there are no dealerships. If I look at TMV for our 1998 pickup (purchased 2 years ago for $5K), it's not going to be that great. Out here in the "country" suburbs, it's always going to be worth $4-5K if it runs and nothing's broken. In that price range, it will probably take all of 5 minutes to sell on craigslist. If we went to a dealership 15 miles away, we might get $2K.
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
True enough. There are darn few running Windstalls around - at least ones that should legally be on the road!
Kia store was really too far away for me plus various other reasons (lease...etc)
Besides, I want a Vauxhall franchise
My 06 XJ8 has been flawless in the 2 and change years I have owned it. Plus Lexus makes a boring car and the Jaguar is fun to drive.
I love black interiors. Here in the Pacific NW, black isn't an issue like it is in places where the sun shines.
Meanwhile, man those Hondas hold their value! - $93,000 Civic.
On the other hand, I hear you can get a smoking deal on a Saab store these days. :P
BTW....when Toyota and Lexus were being hammered by Congress over the alleged unintended acceleration issue, I felt their biggest issue was trying to sidestep the issue. If they would have been upfront, said they were launching an investigation and pay NHTSA to oversee it, they would have never had the nightmare they had.
Sounds like Lexus is doing the same thing with the "mylexussux" web site. Instead of working with the guy, the dealership and Lexus NA played the "What, me worry?" routine. That arrogance bit them in the butt then, it will bite them in the butt again, if they don't change. Just ask GM about that stupid arrogance.
OK....quick up to the minute post about my BMW quest.
I'm going to use dealership names since it's easier.
My closest dealer, Jake, has the BMW I wanted (color, options, etc) in route to their store. We've agreed on a deal that was the same as I offered the dealer 50 miles away, Evans, who originally told me they would get the car for me.
As best I can tell, this is the same car. It was a dealer trade only by the fact the the car I wanted was slated to go to another BMW dealership. However, it was still at the port and slated to go to the New Jersey dealership.
For whatever reason, either the dealership farthest away (Evans) couldn't make a dealer trade, or they didn't even try. In either instance, not good, especially committing that they would do that for me if I gave them a deposit.
So, closest dealer (Jake) keeps his eye out, scanning what might be available. Jake sees the same thing as Evans, only they're a day late in trying to get the car. Why Jake was able to get it rerouted to them from the port, and Evens couldn't is a mystery. Evans lost a sure sale. Jake made one. Yeah, it was a skinny deal. But, don't commit to it if you don't want to make it.
Anyway, I'm getting ready to fly out tomorrow for the holiday with the girlfriend. They say the truck will be here tomorrow. I won't, but the car will.
If all's right when I see it, I'll pull the trigger.
2013 Mustang GT, 2001 GMC Yukon Denali
That pile of trash GS350 is mine.
Lexus could care less. We have 8 of them in my extended family, by next fall they will all be gone.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
Stickguy--
There's an article in the Monday or Tuesday Money section of USA Today that's directed at you. It's about the success and challenges facing Kia both here and internationally. Made me want to jump on the Kia bandwagon as well. I think rather than buy a BMW 335, GG should get himself a Kia dealership.
Gogiboy
Say, my son would probably sell you his 93 Caddy for a few grand. It's got less wrong with it than your Lexus.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Buying their car right. Although I usually don't deal off MSRP, they said they'd knock 10% off MSRP off of anyone I chose. Then, take another $1,000 off that for the BMW Drive to the Olympics test drive incentive, figuring that's a pretty good deal.
Again, this isn't a consummated deal, yet. I have a VIN# and it's supposed to be on a truck headed this way. I gave the ma deposit and also gave them my figures on an excel sheet, which they accepted on a deal sheet. But, I've not seen it, and won't be able to until after the long weekend.
Headed to Vegas to see Cirque du Soleil "Love" (Beatles) and Cirque's "Elvis", eat some good food, stay in a nice hotel. And, show my GF an good time.
We'll see what happens when I come back.
brentwood....didn't realize that was your WEB site and your car. I've looked at a GS350 a couple of times. That little birdy in my ear kept telling me not to pull the trigger. Whenever I visited the Lexus showroom and started talking to them, I always got the feeling they didn't want to deal (at least not the way I like to deal). And, I always got the impression it was going to cot me a lot to buy, to drive and to service.
Good luck!
Have a GX470 in the family coming off lease next month, talked em out of a GX460 and into an LR4
Screw em!
Where did tehy make that car? Bangladesh?
actually, from reading the web page, I never would have bought it with those problems evident at time of purchase.
also shows why you need to make sure they detail your complaints in writing, and completely, and to keep a copy of all the work orders. No way I am giving them an out when I pointed out the problem before the warranty expired.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
When my wife bought her '09 Escape, our internet quote was 1200 over invoice.
We scheduled a test drive anyway.
When we sat with the salesman, I asked will you do x-plan? He said sure and by the time we were done with this and that, 32,700 MSRP ended up at 26,500.
You should go in and get the real starting point face to face.
And I AM still a salesperson!
I volunteer at our local Food Bank where I provide the humor.
A few months ago, I got tired of hearing people say..." We can't move creamed corn, nobody likes it" I'll bet we had 20 crates of it.
I was DETERMINED to show them how to market a product and the first day, I moved about 40 cans of it.
People would ask for canned corn...
" Hey, GREAT NEWS! We actually have some CREAMED corn...would you like some of that?"
Answer..." Uh....sure!
That was about two months ago and we are down to just a few cans.
The trouble was, it was hard to get the same clients to go with creamed corn the following weeks after they found out how BAD that stuff tastes!
Nope...
No nuptials, but that red Eldo 'vert holds some appeal. :P