"...They will sit on our lot for months then when we take them to the auction, they no sale..."
If the price at the lot was low enough it would have sold. And when it was at the auction, are you saying it did not get even one bid? You only need one buyer per car, right?
Maybe what you mean by "a drag on the market" is that dealers ask prices that are too high so they are slow sellers. Maybe that's because the dealer paid too much to get the used Hyundai. Try reducing the price to about 1/2 or less of whatever you paid for the car as a trade-in. If it still does not sell, post it here and I'll probably buy it from you.
Yes, we often pay too much for trades and we get stuck.
Some cars can be thousands of dollars "back of book" but, of course, the people trading them in "know" what they are worth thanks to the various internet sources.
So, we take a chance, thinking this one may be different and pay too much only to learn yet another lesson.
" Try reducing the price to about 1/2 or less of whatever you paid for the car as a trade in"
" Try reducing the price to about 1/2 or less of whatever you paid for the car as a trade in"
It sounds like you have never been in business?
What do you mean by that? If you mean that dealers don't like selling used cars for less than they paid, I understand, but that is just a choice they make. Yours would rather keep a car on the lot for months and finally end up sending it to an auction, hoping to get a better price there? Makes no sense to me. Why not just reduce the price significantly when it's on the lot, and keep on reducing it until it sells? That is where the retail value is determined. It is worth whatever it will sell for, and I'd guess the retail amount is nearly always higher than auction value.
Sure does, but what if there IS no market. Some cars sell to only a small sliver of the buying public, so there's always luck involved.
Just sold my pickup truck -- well, still have it, but I'm holding $500 sticking-around money. Except for that one guy, nobody would even pay auction price for it.
With a Camry or a Civic or any mainstream offering, sitting on the right lot, you'll know to within $300 what you can sell it for. An off-brand, manual transmission, or purple car, who knows what it's worth.
"...have you had any turn out to be, in fact, dogs?..."
Don't get me wrong. Every car has parts that wear out. You have to expect that. But no, the dogs I have purchased (mainly domestics) have done pretty well. When they do need repair they tend to be cheaper to fix too.
The real dog turned out to be a Japanese vehicle which was top rated by Consumer Reports. Of course that wouldn't stop me from buying another one if the common wisdom is against it.
The bottom line is that a car is just 4 wheels that takes you where you want to go. If you want to pay a premium price because it will impress your friends fine, but you don't need to spend extra just to get from point A to point B.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
So 2 weekends ago, I cannot tell you how many people came into my dealership. For me personally I spoke to at least 25 sets of people. Each person loved the car, loved the price of the car, but had to "shop around" other dealers.......when asked if I would definitely be hearing back from them, they replied with "Yes, most definitely, I would never just not respond back to someone". So during the week, making the follow up sales calls......everyone either doesn't reply back to the messages or when I finally get a hold of them, they took a deal at another dealer for maybe 100$ less.........EVEN THOUGH THEY PROBABLY SPENT THAT GETTING TO THE OTHER DEALERS.......and I know that my closing skills aren't that bad.......are buyers REALLY liars?????? :mad: :confuse: :sick:
I finally get a hold of them, they took a deal at another dealer Man if you had 25 write ups in a weekend and didn't close one you need to re-think something. I don't believe that in 13 years I have ever seen any one on that slick of a spot. You need to change your luck.
25 write ups should have meant at least 6 sales.
I don't believe I could write 25 people in a weekend, I wouldn't have enough time
If that's a true picture then there's something wrong at your store. Maybe the advertising is bringing people to you first....maybe your pricing isn't that great....etc., etc. You should be getting as many price shoppers from other stores as they get from you.
I don't think they're necessarily liars, just polite to your face. You surely don't expect them to say "No, you'll never hear from me again!". Once they've bought elsewhere, calling you isn't exactly at the top of their 'to do' list.
So CarMax advertises free appraisals. When I traded my '04 Exploder for a new '07 Accord, I went to them for a buy offer. I didn't drive any of their Accords, just walked the lot checking prices. I'd have considered buying from them but they were high, more for used than I paid new. The local Honda dealer was advertising Accords for $300 under invoice and they matched my CarMax appraisal, which was above my payoff. It was a very quick and easy deal. When CarMax called to follow up with me, I explained what happened and he told me he understood about the deals on the new Accords, and to come back next time.
Now, my wife wants to exchange her '04 Mustang V6 automatic with 26k miles for a newer GT V8 manual. She found one she likes for a god price: $21,990 for a 2007 with 8k miles, leather, side airbags, limited slip, local trade in, etc. at a dealer not too far out of town, and I know a salesperson there. He called and said it's been reduced, they've had it for 3-4 months, and if you check the dealers website the price is still listed as over $26k.
Again, I went to CarMax first for an appraisal, just in case the out of town dealer didn't really want her car or their deal changed. I exchanged pleasantries with the greeter and told him I just wanted an appraisal but they still hand you over to a salesperson (my prior salesman was no longer there). Fine, I give him all the info on the car, and didn't mind him asking 20 questions about what we are replacing it with, etc. I know its his job to try and sell me, but I already knew he was overpriced from looking online. Instead of jerking his chain and going joyriding, I just told him that my wife had found a car but that if he could show us a similar one for less money or if the other dealer wouldn't meet their appraisal or blew the deal, certainly we'd consider it. The way I explained it he had a good chance of getting our car and a fair chance of us buying his.
Well, this guy didn't even bother pulling up Mustangs on his computer, he just went off. He stated he didn't even want to do the appraisal, he wanted to get rid of me. He ranted about how I was wasting his time and I never had any intentions of buying from him. I reminded him, "No, I'm giving you both a chance, to buy and/or sell." He said the other dealer would probably meet the appraisal and then bring the car back to CarMax themselves before the offer expired. I replied, "Well, you'd still get the buy, then." He shrugged that off, said that was only $70 for him. I don't think that would be too bad for the amount of work he had to do, which was very minimal, only taking trade info. He continued to be a real jerk, fussing me out and yelling at his managers.
What do you guys think? Was I being unfair to him by giving CarMax a chance to buy my car without looking at theirs immediately? They do advertise free appraisals good for 7 days, and "we'll buy your car even if you don't buy ours."
It sounds to me like this is a fault of the CarMax system- if you state you just want an appraisal, you should be able to speak to the appraiser directly and avoid a salesperson. If the salesperson doesn't like the CarMax brand identity or process, he should go work for a traditional dealer. The guy eventually said that I wasn't at fault for coming in for an appraisal, but he actually said I should have lied when he was asking me all of his sales questions, pretending like I was only shopping CarMax and nowhere else. However, I like to be honest.
Also, am I being unfair to the out of town dealer by taking a CarMax appraisal just in case?
No your not being unfair. If Carmax didn't want the hassle then they shouldn't advertise it.
Now keep in mind I may be one of the biggest Anti-Carmax guys on this board.
I did find it interesting that the sales person gets paid $70 for each unit purchased. If a salesperson just hung around the appraisal office and caught 2 a day he could make an additional $36K a year just off that.
Very strange. Because those stores are no haggle, you don't exactly get the best "salespeople" in the business working there. In fact, the turnover rate there must be mindblowing. Your salesperson was a real idiot. They tell you that they will give you a trade evaluation no matter what, so just keep doing what you're doing.
ya, problem is, with 25 write ups, hitting them with everything except for the kitchen sink, they still think they are not getting "the best deal" because they see whorehouse dealerships saying they can sell cars for "thousands below dealer cost" little do they know that when they get there, you can't buy a car for that price........yet they buy it anyways because they are sick of shopping................................................ :confuse: :confuse: :confuse: :confuse: :confuse:
So how about at the traditional dealer. I'm going in looking at a "clearance" unit that has probably been reduced to the point where there is little front-end markup. I have to assume the sales manager would try to low-ball my trade-in to try and turn a decent profit.
CarMax offers are usually high in my experience. Their offer for my Explorer was well above other appraisals and above the value given over in the "Real World Trade-In Values" forum. The Mustang offer is right on what Volvomax said would be "all the money."
The Honda dealer sure took the Explorer deal, but the salesperson remarked that there was not much profit for her. At least it is quick and easy, right? It sort of takes the trade-in negotiations out of the picture. If they start with wacky numbers, I say "Here's what I want to pay for yours, and match this for my trade or I'll have to take it back to CarMax" and chances are they won't want me to walk. Just like last time.
Is it fair to ask the dealer to step up to the high trade offer on a low-price unit, probably meaning little front-end profit?
Have your wife (or you) go back with the car. You/She will most likely get a different sales person, and you can now do the dance of pretending to be interested in buying form them in order to get the appraisal.
It's not uncommon for an automaker to compare their cheap cars with a luxury brand. Ford did this back in 1965
Ford tried it again in the eighties, claiming that their Thunderbird Turbo Coupe handled better than an E24 6er. I had both(a 1984 MT Turbo Coupe and a 1988 M6) in my garage in the early nineties, and I can say that the BMW was NOT twice as good as the Ford; the 6er was infinitely better. :P
Around the same time Chrysler was comparing the LeBaron GTS to the BMW Five Series... :confuse:
Not long afterwards BMW NA launched a sly TV ad that depicts a young couple shopping at various car dealerships. At each one the salesperson tells them that their car is just like/just as good/better than a BMW.
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
If the person trying to sell any car prices it low enough, it will sell. If he can't find a buyer fast enough, he can donate it to charity for the tax deduction. The value of the tax deduction became the "market" for that particular car.
But what is the individual sellers market? Is it only there street where they have the car parked for sale? Is it a couple blocks because there neighbor on the next street over saw it?
An individual selling a car has a very, very, small market compared to a dealer. So the two "markets are not comparable.
"...Your statement of dropping the price to HALF or less of what we paid is ridiculous..."
NOT if you paid twice as much as you should have to get it. And if you have not sold it after months and months, and it did not even sell at auction, you probably did pay twice what it was worth.
"...Dropping a price isn't always the solution..."
But if you are willing to drop it far enough, it WILL sell. Problem is, your dealership may lose money on it. I guess at your place the solution is sometimes holding out for that one buyer for months and months, but he doesn't ever come in? And then you send it to auction and don't sell it there either? Still makes no sense.
Anything worth selling WILL sell if the price is low enough. That was my point.
Why is your dealership so stubborn about reducing the price? Is it because you don't want the public to think you'll sell one that cheap next time? Is it something like that?
The size of the pool of possible buyers is as big as the seller wants to make it. Personal decision, same as with a dealer.
If you think the individual seller's market is littler than the dealer's, then YOU have already compared them! If you don't like comparing them...STOP !
25 write ups? are you nuts? Heck 4 good ups on a Saturday is a dream for me. The other salespersons probably got on your case for blowing customers out. I know I would have said something to you. How long have you been selling cars? Any managers T.O. the customers? mackabee
Hyundai's quality is right up there with Honda and Toyota. I know there's a few people that will disagree with me but I had the chance to drive a V6 Sonata a few months ago. This car had leather, moonroof, alloys, and a nice sound system. I would definitely buy one since I keep my cars till the wheels fall off and am not worried about resale value. They are dogs on the used car market. I'd have no problem putting it right next to the Camry or Accord. However, trade values are horrible, most people that want to trade are usually buried in them and they do tend to sit on the lot for a while. Right now we have an 05 Sonata that's been here over 75 days. We will probably send it to our Hyundai store if it doesn't sell in another 2 weeks. Most knowledgeable sales people RUN when they see someone pull up in a Hyundai. Mackabee
No dealer is going to ACV a car at 2 times value. If they do, they won't last long. So let's talk real world, not fantasy. Once (quite a few years ago) we took in a Firebird in late fall. The car lingered and lingered thru the winter - we had to push it around in the snow as it was a Firebird. In the spring we were getting ready to take it to auction on a Monday. The Saturday before, however, we have 3 offers on it in an hours time and made a decent gross profit. You never know.
Is it fair to ask the dealer to step up to the high trade offer on a low-price unit, probably meaning little front-end profit?
Why are you concerned with what is fair about this? Most salespeople have been around the sales floor far more times than you and I put together. They are experienced at what they do and if for some reason you run into a greenpea, his/her sales manager isn’t go to allow a deal to happen that is totally wacky.
When the buyer goes to a dealer the buyer should be honest and up front with the salesperson and only accept a deal that is satisfactory to them. If the salesperson isn’t treating you the way you want to be treated, walk.
Again, the guys in the biz are big boys/girls and they know how to take care of themselves. It’s tough enough for us to take care of ourselves; we don’t have to complicate the process by worrying about dealers.
You just gotta keep this stuff simple.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
OK, real world. How much money did your dealership have in that Hyundai that sat around for months and months? What year and model was it and how many miles? How much were you willing to sell it for? How much was your asking price? What date did you get it and what date did you finally dispose of it? How did you get rid of it after it would not sell at auction? Did you get any of your money back from it? How much?
p.s. (edit) I just realized you are not the guy who had the car at all. So maybe he will respond? (But yours is a nice story. Some cars are seasonal items. Thanks.)
Thats the thing about 1 price stores,salespeople can't make money in them. So, all you get are greenpeas and rejects. The good ones realize they can make more money in a negotiating store.
I only asked because you mentioned "real world". My mistake was thinking you were him. Of course I realize it is not my business. If it was I'd already know the answers. It is his business, so he might know.
truer words were never spoken. i am amazed at how difficult some people try to make car buying. its not hard. do your research, know your budget, be polite but firm, buy your car, go home.
agonizing on what the dealer makes, could you have asked for $100 more off, what did your neighbor pay, what is the dealer going to make on my trade down the road, etc....its just not worth it!
to quote snake - its not rocket surgery (liked that one!)
We have been in hot cars back of book before and they have sat. You just don't know.
I do know this though, sales people sell fresh stuff, a seasoned sales person will walk around an aged car unless there is a big spiff on it, then some green pea comes along and sells the oldest unit in stock and makes $4K. Why? Because the green pea didn't know it was an aged unit, or did the customer.
Hyundai's quality is right up there with Honda and Toyota.
Coming from a Toyota guy this has gotta hurt.
I had the chance to drive a V6 Sonata a few months ago. This car had leather, moonroof, alloys, and a nice sound system.
Yep, and when you punch it, it really moves. In fact, Mrs. jmonroe’s 06’ with the 3.3 V6 is more powerful than my 05’ XG350 with a 3.5 V6. I know that sounds a little crazy but I’ve proven this to myself several times on a pretty steep hill that’s about ¼ mile long. I’m sure it’s a torque thing.
Anyhoo, after a couple of those test drives I told Mrs. jmonroe that if she wasn’t careful she’d have to use 2 feet on the break pedal to stop her car. She told me to leave her car alone and if I wanted to drive like a nut, I should only take my car up that hill. :surprise:
I would definitely buy one since I keep my cars till the wheels fall off and am not worried about resale value.
That was the way I thought about it too.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
i never understood why it was such a big deal. if you've done your research, you know what a fair price on the vehicle is. to worry about whether the dealer is still making $150 or $2000 on it is stupid. i couldn't imagine what most people here would do if somehow people came to find out their cost of doing business, and wanted to get services/products at that price. but people don't put themselves in the other person's shoes - people dont care anymore...
maybe i'm too idealistic...its the artist in me i s'pose!
For me personally I spoke to at least 25 sets of people. Each person loved the car, loved the price of the car, but had to "shop around" other dealers.......when asked if I would definitely be hearing back from them, they replied with "Yes, most definitely, I would never just not respond back to someone". ....and I know that my closing skills aren't that bad.......are buyers REALLY liars??????
Some buyers are and some aren't, just like sales people. Trouble is you don't know what you have until you are into the deal. Truth is, most buyers are intimidated by the system and not contacting you is a defense mechanism as in a way to avoid possible aggressive sales tactics. I'm not saying that's your style, but many people would rather not say no to someone that is asking them for something. It's easier just to avoid you.
I am probably a typical buyer. I research extensively and generally have a good feel of the market price of a car. However, I am a loyal customer. I will only visit one dealer of any particular vehicle for a test drive and go out my way to give them the deal. I will only get maybe one or two quotes to check the deal.
I posted a few weeks ago asking if any sales folks would take an aggressive market deal with some civil discussion and no grinding. The overall answer I got was probably no. Well I think I found one Lexus dealer to do it. Actually the only one I called other than the dealer I visited. I called and explained what I was looking for and what I felt where competitive benchmarks based on various sources. I was told that they would match prices. When I declined to come back for a match as I deemed it unfair, I was given a very competitive price the next day. I gave the dealer I visited a chance to get the deal, but all I got were the standard stories and no. So I just called and completed the deal with the competitive price.
Did I keep my word? Yes. Did I shop his price around to save another $100? No. If they keep their end of the bargain and the transaction is smooth, they can be sure of top-notch CSI scores across the board.
A long winded way to say that many customers are good to their word and don’t lie. However it takes a leap of faith from one side to find out if the other can be trusted and since many have been burned, both sides are naturally cautious.
Four up's in a day is a full day for me. I don't believe the person who posted 25 up's in one weekend, two days, or even three days is really in sales. Unless your counting 4 up and 21 phone calls :confuse:
I don't believe it to be possible to take 25 ups and not have one person say I want to but this car
Comments
Another problem with their method of reporting.
If the price at the lot was low enough it would have sold. And when it was at the auction, are you saying it did not get even one bid? You only need one buyer per car, right?
Maybe what you mean by "a drag on the market" is that dealers ask prices that are too high so they are slow sellers. Maybe that's because the dealer paid too much to get the used Hyundai. Try reducing the price to about 1/2 or less of whatever you paid for the car as a trade-in.
If it still does not sell, post it here and I'll probably buy it from you.
Some cars can be thousands of dollars "back of book" but, of course, the people trading them in "know" what they are worth thanks to the various internet sources.
So, we take a chance, thinking this one may be different and pay too much only to learn yet another lesson.
" Try reducing the price to about 1/2 or less of whatever you paid for the car as a trade in"
It sounds like you have never been in business?
It sounds like you have never been in business?
What do you mean by that?
If you mean that dealers don't like selling used cars for less than they paid, I understand, but that is just a choice they make. Yours would rather keep a car on the lot for months and finally end up sending it to an auction, hoping to get a better price there? Makes no sense to me. Why not just reduce the price significantly when it's on the lot, and keep on reducing it until it sells? That is where the retail value is determined. It is worth whatever it will sell for, and I'd guess the retail amount is nearly always higher than auction value.
Oh. Wait a second, that was isell! So he knows that one...
Sure does, but what if there IS no market. Some cars sell to only a small sliver of the buying public, so there's always luck involved.
Just sold my pickup truck -- well, still have it, but I'm holding $500 sticking-around money. Except for that one guy, nobody would even pay auction price for it.
With a Camry or a Civic or any mainstream offering, sitting on the right lot, you'll know to within $300 what you can sell it for. An off-brand, manual transmission, or purple car, who knows what it's worth.
Ya gotta have a buyer to have a "market".
-Mathias
Don't get me wrong. Every car has parts that wear out. You have to expect that. But no, the dogs I have purchased (mainly domestics) have done pretty well. When they do need repair they tend to be cheaper to fix too.
The real dog turned out to be a Japanese vehicle which was top rated by Consumer Reports. Of course that wouldn't stop me from buying another one if the common wisdom is against it.
The bottom line is that a car is just 4 wheels that takes you where you want to go. If you want to pay a premium price because it will impress your friends fine, but you don't need to spend extra just to get from point A to point B.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I finally get a hold of them, they took a deal at another dealer
Man if you had 25 write ups in a weekend and didn't close one you need to re-think something. I don't believe that in 13 years I have ever seen any one on that slick of a spot. You need to change your luck.
25 write ups should have meant at least 6 sales.
I don't believe I could write 25 people in a weekend, I wouldn't have enough time
I don't think they're necessarily liars, just polite to your face. You surely don't expect them to say "No, you'll never hear from me again!". Once they've bought elsewhere, calling you isn't exactly at the top of their 'to do' list.
Dropping a price isn't always the solution. Sometimes, it's just a matter of finding the right buyer. No different in Real Estate.
Your statement of dropping the price to HALF or less of what we paid is ridiculous.
Sometimes mistakes are made and Korean cars are scary for that reason. That was my point.
The market for anything Korean is terrible.
You are missing something some where.
25 ups for me on a average month is going to be 7 sales and on a hot month will be 8 or 9.
So far this month I have 10 sales with 30 ups. With one week go go I am hoping to finish at around 14 if I keep up my current pace.
Now, my wife wants to exchange her '04 Mustang V6 automatic with 26k miles for a newer GT V8 manual. She found one she likes for a god price: $21,990 for a 2007 with 8k miles, leather, side airbags, limited slip, local trade in, etc. at a dealer not too far out of town, and I know a salesperson there. He called and said it's been reduced, they've had it for 3-4 months, and if you check the dealers website the price is still listed as over $26k.
Again, I went to CarMax first for an appraisal, just in case the out of town dealer didn't really want her car or their deal changed. I exchanged pleasantries with the greeter and told him I just wanted an appraisal but they still hand you over to a salesperson (my prior salesman was no longer there). Fine, I give him all the info on the car, and didn't mind him asking 20 questions about what we are replacing it with, etc. I know its his job to try and sell me, but I already knew he was overpriced from looking online. Instead of jerking his chain and going joyriding, I just told him that my wife had found a car but that if he could show us a similar one for less money or if the other dealer wouldn't meet their appraisal or blew the deal, certainly we'd consider it. The way I explained it he had a good chance of getting our car and a fair chance of us buying his.
Well, this guy didn't even bother pulling up Mustangs on his computer, he just went off. He stated he didn't even want to do the appraisal, he wanted to get rid of me. He ranted about how I was wasting his time and I never had any intentions of buying from him. I reminded him, "No, I'm giving you both a chance, to buy and/or sell." He said the other dealer would probably meet the appraisal and then bring the car back to CarMax themselves before the offer expired. I replied, "Well, you'd still get the buy, then." He shrugged that off, said that was only $70 for him. I don't think that would be too bad for the amount of work he had to do, which was very minimal, only taking trade info. He continued to be a real jerk, fussing me out and yelling at his managers.
What do you guys think? Was I being unfair to him by giving CarMax a chance to buy my car without looking at theirs immediately? They do advertise free appraisals good for 7 days, and "we'll buy your car even if you don't buy ours."
It sounds to me like this is a fault of the CarMax system- if you state you just want an appraisal, you should be able to speak to the appraiser directly and avoid a salesperson. If the salesperson doesn't like the CarMax brand identity or process, he should go work for a traditional dealer. The guy eventually said that I wasn't at fault for coming in for an appraisal, but he actually said I should have lied when he was asking me all of his sales questions, pretending like I was only shopping CarMax and nowhere else. However, I like to be honest.
Also, am I being unfair to the out of town dealer by taking a CarMax appraisal just in case?
Now keep in mind I may be one of the biggest Anti-Carmax guys on this board.
I did find it interesting that the sales person gets paid $70 for each unit purchased. If a salesperson just hung around the appraisal office and caught 2 a day he could make an additional $36K a year just off that.
I would assume so.
I wonder if their is a sliding scale where if they get X number of buys in a month they get a 100 bucks a buy.
In this case, I think that salesperson should seek employment elsewhere. I would guess they have tremendous turnover.
-Moo
CarMax offers are usually high in my experience. Their offer for my Explorer was well above other appraisals and above the value given over in the "Real World Trade-In Values" forum. The Mustang offer is right on what Volvomax said would be "all the money."
The Honda dealer sure took the Explorer deal, but the salesperson remarked that there was not much profit for her. At least it is quick and easy, right? It sort of takes the trade-in negotiations out of the picture. If they start with wacky numbers, I say "Here's what I want to pay for yours, and match this for my trade or I'll have to take it back to CarMax" and chances are they won't want me to walk. Just like last time.
Is it fair to ask the dealer to step up to the high trade offer on a low-price unit, probably meaning little front-end profit?
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Ford tried it again in the eighties, claiming that their Thunderbird Turbo Coupe handled better than an E24 6er. I had both(a 1984 MT Turbo Coupe and a 1988 M6) in my garage in the early nineties, and I can say that the BMW was NOT twice as good as the Ford; the 6er was infinitely better. :P
Around the same time Chrysler was comparing the LeBaron GTS to the BMW Five Series... :confuse:
Not long afterwards BMW NA launched a sly TV ad that depicts a young couple shopping at various car dealerships. At each one the salesperson tells them that their car is just like/just as good/better than a BMW.
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
If the person trying to sell any car prices it low enough, it will sell. If he can't find a buyer fast enough, he can donate it to charity for the tax deduction. The value of the tax deduction became the "market" for that particular car.
Anything sells for the right price.
An individual selling a car has a very, very, small market compared to a dealer. So the two "markets are not comparable.
NOT if you paid twice as much as you should have to get it. And if you have not sold it after months and months, and it did not even sell at auction, you probably did pay twice what it was worth.
"...Dropping a price isn't always the solution..."
But if you are willing to drop it far enough, it WILL sell. Problem is, your dealership may lose money on it.
I guess at your place the solution is sometimes holding out for that one buyer for months and months, but he doesn't ever come in? And then you send it to auction and don't sell it there either? Still makes no sense.
Anything worth selling WILL sell if the price is low enough. That was my point.
Why is your dealership so stubborn about reducing the price? Is it because you don't want the public to think you'll sell one that cheap next time? Is it something like that?
Market size. Who even cares? And why?
The size of the pool of possible buyers is as big as the seller wants to make it. Personal decision, same as with a dealer.
If you think the individual seller's market is littler than the dealer's, then YOU have already compared them! If you don't like comparing them...STOP !
mackabee
Mackabee
Either we're embellishing for the sake of a story or we're a very poor salesman who works extremely fast. :surprise:
-Moo
Why are you concerned with what is fair about this? Most salespeople have been around the sales floor far more times than you and I put together. They are experienced at what they do and if for some reason you run into a greenpea, his/her sales manager isn’t go to allow a deal to happen that is totally wacky.
When the buyer goes to a dealer the buyer should be honest and up front with the salesperson and only accept a deal that is satisfactory to them. If the salesperson isn’t treating you the way you want to be treated, walk.
Again, the guys in the biz are big boys/girls and they know how to take care of themselves. It’s tough enough for us to take care of ourselves; we don’t have to complicate the process by worrying about dealers.
You just gotta keep this stuff simple.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
How much money did your dealership have in that Hyundai that sat around for months and months? What year and model was it and how many miles? How much were you willing to sell it for? How much was your asking price? What date did you get it and what date did you finally dispose of it? How did you get rid of it after it would not sell at auction? Did you get any of your money back from it? How much?
p.s. (edit) I just realized you are not the guy who had the car at all. So maybe he will respond?
(But yours is a nice story. Some cars are seasonal items. Thanks.)
So, all you get are greenpeas and rejects.
The good ones realize they can make more money in a negotiating store.
Of course I realize it is not my business. If it was I'd already know the answers. It is his business, so he might know.
truer words were never spoken. i am amazed at how difficult some people try to make car buying. its not hard. do your research, know your budget, be polite but firm, buy your car, go home.
agonizing on what the dealer makes, could you have asked for $100 more off, what did your neighbor pay, what is the dealer going to make on my trade down the road, etc....its just not worth it!
to quote snake - its not rocket surgery (liked that one!)
-thene
I do know this though, sales people sell fresh stuff, a seasoned sales person will walk around an aged car unless there is a big spiff on it, then some green pea comes along and sells the oldest unit in stock and makes $4K. Why? Because the green pea didn't know it was an aged unit, or did the customer.
Coming from a Toyota guy this has gotta hurt.
I had the chance to drive a V6 Sonata a few months ago. This car had leather, moonroof, alloys, and a nice sound system.
Yep, and when you punch it, it really moves. In fact, Mrs. jmonroe’s 06’ with the 3.3 V6 is more powerful than my 05’ XG350 with a 3.5 V6. I know that sounds a little crazy but I’ve proven this to myself several times on a pretty steep hill that’s about ¼ mile long. I’m sure it’s a torque thing.
Anyhoo, after a couple of those test drives I told Mrs. jmonroe that if she wasn’t careful she’d have to use 2 feet on the break pedal to stop her car. She told me to leave her car alone and if I wanted to drive like a nut, I should only take my car up that hill. :surprise:
I would definitely buy one since I keep my cars till the wheels fall off and am not worried about resale value.
That was the way I thought about it too.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
I hear this all the time and am curious, have any of you ever been hurt when you were driving down the road and all the wheels fell off your car?
Slower XG acceleration should not surprise anyone.
Sonata gets better fuel economy too.
maybe i'm too idealistic...its the artist in me i s'pose!
-thene :sick:
Some buyers are and some aren't, just like sales people. Trouble is you don't know what you have until you are into the deal. Truth is, most buyers are intimidated by the system and not contacting you is a defense mechanism as in a way to avoid possible aggressive sales tactics. I'm not saying that's your style, but many people would rather not say no to someone that is asking them for something. It's easier just to avoid you.
I am probably a typical buyer. I research extensively and generally have a good feel of the market price of a car. However, I am a loyal customer. I will only visit one dealer of any particular vehicle for a test drive and go out my way to give them the deal. I will only get maybe one or two quotes to check the deal.
I posted a few weeks ago asking if any sales folks would take an aggressive market deal with some civil discussion and no grinding. The overall answer I got was probably no. Well I think I found one Lexus dealer to do it. Actually the only one I called other than the dealer I visited. I called and explained what I was looking for and what I felt where competitive benchmarks based on various sources. I was told that they would match prices. When I declined to come back for a match as I deemed it unfair, I was given a very competitive price the next day. I gave the dealer I visited a chance to get the deal, but all I got were the standard stories and no. So I just called and completed the deal with the competitive price.
Did I keep my word? Yes. Did I shop his price around to save another $100? No. If they keep their end of the bargain and the transaction is smooth, they can be sure of top-notch CSI scores across the board.
A long winded way to say that many customers are good to their word and don’t lie. However it takes a leap of faith from one side to find out if the other can be trusted and since many have been burned, both sides are naturally cautious.
I don't believe it to be possible to take 25 ups and not have one person say I want to but this car