My dad told me that a teenager will wreck a couple of cars before it is over. He said a good reliable beater with good gas mileage will get him by until he can afford what he wants...
That is disgusting.
I don't care about "wrecking" the car, but I do care that the rest of us are on the street with these shmoes, some of us on bicycles or on foot.
That attitude should be nipped in the bud.
I concur. I am at least as big an idiot as the next guy (follow the whining and debating on the cell phone user forum) and I managed to survive high school and college (and about 200k miles in there) without an at-fault accident.
Parents who lack time and skills to parent or willingness to put any responsibility on their child might be part of the issue. I was definitely as spoiled as any kid, but I seemed to get the whole money comes from working and taking care of you stuff is important if you want it to last lessons without learning them the hard way,
i think i got a pair of nike leather basketball sneakers from my dad when i was 17....dont recall him giving me a loaded ford ranger...i do not see how it is good spoiling a kid like that
Well you should not have felt under dressed..you should see how I dress away from work :surprise: I absolutely HATE wearing a tie every day, but we have to do it. It is a great facility and the atmosphere is nice, but some of the customers would surprise you. Your kid that only wanted a yellow truck is a walk in the park compared to what I see sometimes. I also have to say I was super impressed with the whole transaction on the truck. That is the kind of service we give and you expect it for our cars-I did not expect it on an F-150. I have purchased 5 cars in the past 6 years (none of the highline,of course ) and had not so great service. This was the best- thanks Joel.
yeah, i know. They have all been pretty inexpensive trucks or Jeeps. I cant really justify having one and driving a demo-my last was an 06 Tacoma I got rid of with 1000 miles on it. But our demos are going away and we will get a car allowance.Also i just got a little bit of land and felt I needed to justify a new truck. :shades:
I got an opportunity today to see how the other half lives. Sold an F150 to a guy who is a Salesperson at a high line store here in town, I told him I would bring the truck and paper work to him. They sell Porches, Jags, and SAABS. It is amazing the difference in the atmosphere between my Ford store and this place. I felt under dressed when I walked in Not only were the cars first class, but so was the facility from what I saw.
Was there any straw buyers in the store that day? :shades:
Nope no straw buyers. But they did have a fountain out front that I would love to have in my back yard.
LOL the dreaded straw purchase. Want to have a salesmen pissed off at you? Queer his deal in the finance office over a Straw purchase. I hate doing it but the sales guy is not the one who has to answer to the lender when they find out.
Well you should not have felt under dressed..you should see how I dress away from work I absolutely HATE wearing a tie every day, but we have to do it. It is a great facility and the atmosphere is nice, but some of the customers would surprise you. Your kid that only wanted a yellow truck is a walk in the park compared to what I see sometimes. I also have to say I was super impressed with the whole transaction on the truck. That is the kind of service we give and you expect it for our cars-I did not expect it on an F-150. I have purchased 5 cars in the past 6 years (none of the highline,of course ) and had not so great service. This was the best- thanks Joel.
Am I missing something or did Joel sell Jescue a truck?
Want to have a salesmen pissed off at you? Queer his deal in the finance office over a Straw purchase. I hate doing it but the sales guy is not the one who has to answer to the lender when they find out.
I could never undertsand why a salesperson would get upsat about it. Some people just don't get it.......... :confuse:
That is one thing I have found is that another salesperson will not ussually grind a deal. They ussually don't mind paying profit. I know I don't mind. The only thing I am a stickler about is if I am getting treated right. If I feel that I am not I will not buy.
From the sounds of it Joel went out of his way. Nice job Joel. I probrably would have done the same thing. I always love to check out other dealers and see their operations.
Ya the deal went smooth as silk, jescue found the truck on our web site, emailed me the VIN, I emailed him the price, typed the paper work up and took it to him the next day.
The two best part were that at the beggining of the month the owner said all managers have to prospect and sell one car themselves. I have had 4 or 5 prior customers buy this month but I did not have the heart to take the sale from a salesperson. So this deal was right on time. Plus now if my boss gives me crap about being on the site during work hours I can tell him I am prospecting
I think that is awesome that deal worked out for you. All you need is to say you is it doesn't cost anything for this forum and it earned you a deal. Great job! ALthough it has to be helpful that he is located near you!
As a sales person it is always nice to get a spoon from a caring Finance person :P
A straw purchase is when someone buys and finances a car in their name, but another non relative will be paying for and driving the car. Usually attempted when a friend or lover has horrendous credit.
I hope I'm not showing too much ignorance by asking this. I take it this has nothing to do with farm animals?
No ignorance at all! How would you know unless you worked in this business or financing. A straw buyer is someone who puts a deal in their name for someone else to buy the car. In other words I need a car but can't get financing even if you co-sign for me and if it could be done it would be a high rate and the person or persons wouldn't want to do it. So we put all the paper work under your name and you might be compensated for it depending on the situation. Either way it is illegal. If I missed anything let me know Joel.
Here is a story out of New York...
At specialty high line store in New York a sales person was murdered at the dealership. Upon investigation the store had many Purchases under a straw buyer. I don't know the out come but one could speculate that the Straw purchaser could have been the culprit for many reasons you could imagine. Story still under invetsigation. This would also be the extreme. But it can be as innocent as a good friend signing for you.
If the bank catches you they call the loan. It happened to me ONE time.
This guy was so good at it we didn't even catch him till the third time.
The way it went down is this guy leased cars, some time during the term of his third lease from us he had a spat with his alternative life style partner. He told his partner he was taking the car back.
So his partner that he had been leasing the cars for under his name called FMCC and asked if he could have the car in his name, they asked why and he told them, "well my credit is not good so my friend has been leasing the cars for me. But I made all the payments"
That afternoon Ford credit calls and tells us about it and calls our loan. We sent a Repo guy all the way to Florida to snag the car.
An experienced sales person will coach the customer quite well and I never know it is happening. But I have had customers in my office buying a car and flat out look at the person with them and say, this is your car not mine, do you want it?
I always begin shopping for a car 6 months before I need one. If I come across a screaming deal either privately or at a dealer I buy.
So Im in a dealership yesterday and the salesguy offers $3000 back of book on the trade and a monthly payment equal to $2000 OVER the MSRP at an interest rate of 11%. Now I have a FICO over 700 as told to me by my bank.
So I tell the guy to write it up lets get this deal done. He scrambles back to the Sales Manger. I have never seen a salesman move so quickly. He comes back and I look at him and ask him if he really thought I was that stupid?
I got up and left...
I cannot imagine how many people fall for that. I have done this many times until I find a dealer who is not so far out of bed in every area.
I have walked deals in F&I when I decided the trade in was to low and decided there to take it out of the deal and just pay cash for my trade back.
The funny part about it is I have found the better used car dealers pay much more for the trades and have better prices over all on late model still in warranty cars.
The funny part about it is I have found the better used car dealers pay much more for the trades and have better prices over all on late model still in warranty cars.
But those cars do not carry longer Certified warranties that dealers can provide. They also may show you more for your trade because without certifying a car, they have lower costs. Therefore, they will show you more than they ACV your car. The actual ACV will be the same as the dealer.
I always begin shopping for a car 6 months before I need one. If I come across a screaming deal either privately or at a dealer I buy.
Sounds like your looking for a salesman. You just said if you find a good enough deal you will buy. Have you been offered any good deals yet and how many have you been offered? Would you buy a Kia or do you have a specific model in mind. If you share what you are looking for we can tell you where you stand for a good deal.
I was just thumbing through the Chicago Sun-Times and saw that a big Chrysler dealer is having extended hours (til Midnight!) today, Monday, and Tuesday. What a way to spend a Saturday night.
I paid the down payment and the first 18 months or so of payments for my daughter. The car is in my name because of my better credit at the time (she was still in school). The manufacturer was offering a good credit rate at the time. Now she is working and making the payments (to me). When it is paid up, I'm having the car transferred to her name. She pays the insurance and registration fees. I've only driven the car about 15 miles total.
The salesman didn't seem to think anything unusual about the deal at the time and we were quite honest about who would be driving the car. :shades:
No, because she was a dependent of yours. You could have put her on the deal with you if she was over 18. Your credit and income would carry the deal and she would have built her credit.
But those cars do not carry longer Certified warranties that dealers can provide.
That’s absolutely true, but you are really paying through the nose for warranties on used cars. I know this for a fact since I’ve bought my share of used cars over the years.
When I was buying a used car in the late 80’s, I told the salesman I didn’t want a 1 year warranty, a 60 day warranty was plenty good enough for me, so if he took $1400 off the price of the car we had a deal. He proceeds to tell me that the warranty is free they aren’t charging for it. I said OK thanks anyway and I start to leave. He jumps up and says, let me see what my manager says. He comes right back and says OK you have a deal.
Just to have some fun I said, “and I want that free 1 year warranty” he turned green and said I thought all you wanted was a 60 day warranty and I said yeah that’s all I wanted but since the 1 year is “free”, I want it. He is deep green at this point (and since he was a greenpea that color fit him perfectly) so before he threw up on me, I let him off the hook saying, “don’t insult your customers by telling them extended warranties are free because both you and I know they aren’t, the next guy just might walk out and not come back”!
Boy, was he relieved when I said, “let’s write it up”.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
but you are really paying through the nose for warranties on used cars
You are paying for a "CERTIFIED" warranty, that is true. But the stringent recon that must be done is enormous. For instance, on ours if the pads and rotors are at 50%, you and I would not replace them, but for certification we must. If you compare the consumer cost on a certified warranty, it is much less than an extended warranty. And you get a car that has been gone thru much more thoroughly.
Just came back from the local church carnival. They are having a raffle and you can pick one of three cars... The choices are 2007 Pontiac Torrent, 2007 Pontiac G6 sedan, or 2007 Honda Accord sedan. And if you don't want to pick a car, you can choose $15,000 in cash. If you won, what would you pick and why? Just curios...
But the stringent recon that must be done is enormous.
If you compare the consumer cost on a certified warranty, it is much less than an extended warranty.
I think there is a little bit of semantics here but in the end you are paying quite a bit for either of these. For those who need a warranty it might be worth it. I feel confident in my skills of knowing a good car from a trouble maker so a 60 day warranty is all I need.
For instance, on ours if the pads and rotors are at 50%, you and I would not replace them, but for certification we must.
It's funny that you should mention this because I just helped son #2 replace the front pads on his 2000 Explorer but they were gone and about to make some noise if the pads wore much more and the metal sounder touched the rotor. If people only knew how easy it is to change pads they would never inconvenience themselves buy spending a day to have it done by a garage to say nothing of the money saved.
And you get a car that has been gone thru much more thoroughly.
And like I said, you pay for this, a lot.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Heh, it does seem to be a special promotion as 6 pm is the usual closing time around here on Saturdays. Maybe it's the new Chrysler warranty that's spurring them on to late night hours.
Before today I had sold three cars all month and only delivered one so far.
So far I have sold three cars today but I think only one can be delivered this month. That is fine with me because I am no where near a bonus level for July and would rather load up August. Our other two sales guides have sold one car each.
Hmhh probably the cash depending on what equipment level the G6 and Accord were.
The G6 was standard silver color (I think V6, though not sure). I think the sticker said $20k or so. The Accord was a red wine color LX sedan in the $22,000 range. The Torrent was a bluish-purple color also the $22,000 range.
No semantics - extended and certified are 2 completely different animals. Only a cursory inspection is required to be done to a used car (if any) to sell an extended. An extensive recon even on non-warranty items (brakes, tires, etc)is required to certify. It cost the dealer more in recon, then a fee to the manufacturer, but the consumer winds up with a better car up front, and a longer warranty that cost less than an extended. Things have changed in our business since the 80's. Also, I am a believer in warranties on cars. If you saw some of the modern repair bills you might be too. The electronics on the modern car (even low end) can really run up repair costs. I have them on all my vehicles - even my Harley.
Glad you are busy - we are dead. But then I got 14 last month and 7 1/2 so far this month. Doesn't sound like much to most guys, but as you know with LR it is good.
None of these 2007 vehicles you mentioned are selling anywhere near their MSRP. Between the 3, I would also choose the Accord. But also note that some Honda dealers are apparently selling Accords for well under $2000 below invoice, in anticipation of the brand new '08 redesigned models. Last week I read several posts indicating quotes of $17.5K for the SE model.
With that in mind, I would still choose the Accord -- but only if I intend to keep the car for a year or longer. If I had no need for the car, I would probably choose the $15K, rather than go thru the hassle of taking ownership and immediately attempting to sell the car.
Ya, I've got a friend at a nearby Porsche store. He sold 13 cars last month and made an absolute killing. High end store gross sure carries you through.
I've hit the level where you get 35% of front end gross and 8% of back, plus any other incentives for unit bonuses. Should be a good month, not my best, but definitely keeps my baby in diapers.
Comments
We DO have our limits! :P
tidester, host
SUVs and Smart Shopper
That is disgusting.
I don't care about "wrecking" the car, but I do care that the rest of us are on the street with these shmoes, some of us on bicycles or on foot.
That attitude should be nipped in the bud.
I concur. I am at least as big an idiot as the next guy (follow the whining and debating on the cell phone user forum) and I managed to survive high school and college (and about 200k miles in there) without an at-fault accident.
Parents who lack time and skills to parent or willingness to put any responsibility on their child might be part of the issue. I was definitely as spoiled as any kid, but I seemed to get the whole money comes from working and taking care of you stuff is important if you want it to last lessons without learning them the hard way,
Ah, go for it, don't make me look like the bad guy all the time.
'Timeouts' around here ain't all that bad just ask 'jip'. Anyways, it's the weekend.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
'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
Have you ever thought of buying a reliable car? :surprise:
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Was there any straw buyers in the store that day? :shades:
LOL the dreaded straw purchase. Want to have a salesmen pissed off at you? Queer his deal in the finance office over a Straw purchase. I hate doing it but the sales guy is not the one who has to answer to the lender when they find out.
Am I missing something or did Joel sell Jescue a truck?
Mackabee
I could never undertsand why a salesperson would get upsat about it. Some people just don't get it.......... :confuse:
That is one thing I have found is that another salesperson will not ussually grind a deal. They ussually don't mind paying profit. I know I don't mind. The only thing I am a stickler about is if I am getting treated right. If I feel that I am not I will not buy.
From the sounds of it Joel went out of his way. Nice job Joel. I probrably would have done the same thing. I always love to check out other dealers and see their operations.
The two best part were that at the beggining of the month the owner said all managers have to prospect and sell one car themselves. I have had 4 or 5 prior customers buy this month but I did not have the heart to take the sale from a salesperson. So this deal was right on time. Plus now if my boss gives me crap about being on the site during work hours I can tell him I am prospecting
For those of us not in the biz, what is a straw purchase? :confuse:
I hope I'm not showing too much ignorance by asking this. I take it this has nothing to do with farm animals?
I think that is awesome that deal worked out for you. All you need is to say you is it doesn't cost anything for this forum and it earned you a deal. Great job! ALthough it has to be helpful that he is located near you!
As a sales person it is always nice to get a spoon from a caring Finance person :P
No ignorance at all! How would you know unless you worked in this business or financing. A straw buyer is someone who puts a deal in their name for someone else to buy the car. In other words I need a car but can't get financing even if you co-sign for me and if it could be done it would be a high rate and the person or persons wouldn't want to do it. So we put all the paper work under your name and you might be compensated for it depending on the situation. Either way it is illegal. If I missed anything let me know Joel.
Here is a story out of New York...
At specialty high line store in New York a sales person was murdered at the dealership. Upon investigation the store had many Purchases under a straw buyer. I don't know the out come but one could speculate that the Straw purchaser could have been the culprit for many reasons you could imagine. Story still under invetsigation. This would also be the extreme. But it can be as innocent as a good friend signing for you.
If the bank catches you they call the loan. It happened to me ONE time.
This guy was so good at it we didn't even catch him till the third time.
The way it went down is this guy leased cars, some time during the term of his third lease from us he had a spat with his alternative life style partner. He told his partner he was taking the car back.
So his partner that he had been leasing the cars for under his name called FMCC and asked if he could have the car in his name, they asked why and he told them, "well my credit is not good so my friend has been leasing the cars for me. But I made all the payments"
That afternoon Ford credit calls and tells us about it and calls our loan. We sent a Repo guy all the way to Florida to snag the car.
An experienced sales person will coach the customer quite well and I never know it is happening. But I have had customers in my office buying a car and flat out look at the person with them and say, this is your car not mine, do you want it?
I can only guess how it got that name.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
So Im in a dealership yesterday and the salesguy offers $3000 back of book on the trade and a monthly payment equal to $2000 OVER the MSRP at an interest rate of 11%. Now I have a FICO over 700 as told to me by my bank.
So I tell the guy to write it up lets get this deal done. He scrambles back to the Sales Manger. I have never seen a salesman move so quickly. He comes back and I look at him and ask him if he really thought I was that stupid?
I got up and left...
I cannot imagine how many people fall for that. I have done this many times until I find a dealer who is not so far out of bed in every area.
I have walked deals in F&I when I decided the trade in was to low and decided there to take it out of the deal and just pay cash for my trade back.
The funny part about it is I have found the better used car dealers pay much more for the trades and have better prices over all on late model still in warranty cars.
But those cars do not carry longer Certified warranties that dealers can provide. They also may show you more for your trade because without certifying a car, they have lower costs. Therefore, they will show you more than they ACV your car. The actual ACV will be the same as the dealer.
Sounds like your looking for a salesman. You just said if you find a good enough deal you will buy. Have you been offered any good deals yet and how many have you been offered? Would you buy a Kia or do you have a specific model in mind. If you share what you are looking for we can tell you where you stand for a good deal.
I paid the down payment and the first 18 months or so of payments for my daughter. The car is in my name because of my better credit at the time (she was still in school). The manufacturer was offering a good credit rate at the time. Now she is working and making the payments (to me). When it is paid up, I'm having the car transferred to her name. She pays the insurance and registration fees. I've only driven the car about 15 miles total.
The salesman didn't seem to think anything unusual about the deal at the time and we were quite honest about who would be driving the car. :shades:
But you also probrably have as a driver on the insurance policy too I would assume.
That’s absolutely true, but you are really paying through the nose for warranties on used cars. I know this for a fact since I’ve bought my share of used cars over the years.
When I was buying a used car in the late 80’s, I told the salesman I didn’t want a 1 year warranty, a 60 day warranty was plenty good enough for me, so if he took $1400 off the price of the car we had a deal. He proceeds to tell me that the warranty is free they aren’t charging for it. I said OK thanks anyway and I start to leave. He jumps up and says, let me see what my manager says. He comes right back and says OK you have a deal.
Just to have some fun I said, “and I want that free 1 year warranty” he turned green and said I thought all you wanted was a 60 day warranty and I said yeah that’s all I wanted but since the 1 year is “free”, I want it. He is deep green at this point (and since he was a greenpea that color fit him perfectly) so before he threw up on me, I let him off the hook saying, “don’t insult your customers by telling them extended warranties are free because both you and I know they aren’t, the next guy just might walk out and not come back”!
Boy, was he relieved when I said, “let’s write it up”.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
You are paying for a "CERTIFIED" warranty, that is true. But the stringent recon that must be done is enormous. For instance, on ours if the pads and rotors are at 50%, you and I would not replace them, but for certification we must. If you compare the consumer cost on a certified warranty, it is much less than an extended warranty. And you get a car that has been gone thru much more thoroughly.
If you compare the consumer cost on a certified warranty, it is much less than an extended warranty.
I think there is a little bit of semantics here but in the end you are paying quite a bit for either of these. For those who need a warranty it might be worth it. I feel confident in my skills of knowing a good car from a trouble maker so a 60 day warranty is all I need.
For instance, on ours if the pads and rotors are at 50%, you and I would not replace them, but for certification we must.
It's funny that you should mention this because I just helped son #2 replace the front pads on his 2000 Explorer but they were gone and about to make some noise if the pads wore much more and the metal sounder touched the rotor. If people only knew how easy it is to change pads they would never inconvenience themselves buy spending a day to have it done by a garage to say nothing of the money saved.
And you get a car that has been gone thru much more thoroughly.
And like I said, you pay for this, a lot.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Before today I had sold three cars all month and only delivered one so far.
So far I have sold three cars today but I think only one can be delivered this month. That is fine with me because I am no where near a bonus level for July and would rather load up August. Our other two sales guides have sold one car each.
The G6 was standard silver color (I think V6, though not sure). I think the sticker said $20k or so. The Accord was a red wine color LX sedan in the $22,000 range. The Torrent was a bluish-purple color also the $22,000 range.
No semantics - extended and certified are 2 completely different animals. Only a cursory inspection is required to be done to a used car (if any) to sell an extended. An extensive recon even on non-warranty items (brakes, tires, etc)is required to certify. It cost the dealer more in recon, then a fee to the manufacturer, but the consumer winds up with a better car up front, and a longer warranty that cost less than an extended. Things have changed in our business since the 80's.
Also, I am a believer in warranties on cars. If you saw some of the modern repair bills you might be too. The electronics on the modern car (even low end) can really run up repair costs. I have them on all my vehicles - even my Harley.
With that in mind, I would still choose the Accord -- but only if I intend to keep the car for a year or longer. If I had no need for the car, I would probably choose the $15K, rather than go thru the hassle of taking ownership and immediately attempting to sell the car.
-Moo
There wasn't much gross in any of them though so I did better overall during some previous months.
I've hit the level where you get 35% of front end gross and 8% of back, plus any other incentives for unit bonuses. Should be a good month, not my best, but definitely keeps my baby in diapers.
-Moo