Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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Stories from the Sales Frontlines
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What types of lux cars do you represent? Used? New? Exotics? Bentley? Masserati? Rolls?
There's a dealership smack dab in the middle of downtown Chicago (not far from Loyola U.). Whenever I go to Chicago, I always make a point of just window shopping, sometimes actually entering their dealership. They seem to be used to "lookers". I can't afford any of the cars they sell (well, maybe if I liquidate my house). But, they usually have cars on the street in front of the showroom, as well as inside. Lambos, Ferarris, Bentleys, Rolls, Lotus....just about every exotic you could think of. Neat place to visit.
My local Infiniti dealer said that it takes about 3-4 months from time of first contact with a potential buyer to the time they sign the papers and roll out in their new Infiniti. He said normally it takes 4-5 visits before a deal can be struck, too. He said he's used to it.
I'm in Northern Virginia. We sell Used luxury. BMW's, Mercedes, Infinity, Audi, Porsche, Cadillac. . .brands like that.
And, yes, same here. We hardly ever sell on the first visit (maybe 20% of the time). Usually it is about a 2 - 3 month process. . .
We do also get our share of lookers, which we are used to, but that is why we do the whole sit down to see where they are in the process before putting them 'in' a car! If they aren't thinking of buying and willing to give us a credit app, they don't go on a test drive. . .Period!
I can't understand the people that take four visits and two months to decide to buy something.
But, that's me.
They were about like the girls. It was my first year teaching. The federal government told me that if I would teach in this high risk school, they would "forgive" 20% of my student loans for each year that I stayed. I didn't know until the first day of school that I was the only Caucasian among the students and faculty. I had to "prove" myself. I stayed three years and reduced my loans by 60%. It was quite an experience---remember the movie "Blackboard Jungle"? After those three years, teaching was a breeze.
To stay on topic: What type of cars did the students drive? They drove faculty cars if they could find your car and/or the keys. :P
Richard
Richard
Richard
I taught inner city kids when I started... but they were in the primary grades. I never saw any guns or knives but there were stories. I stayed in those kinds of schools until I moved to the dark side. Loved the kids.
We did have a car stolen from the school parking lot at one place. A student didn't do it though.
Richard
And, sorry about the whole taxes thing. I'm, of course, in the same boat as you!
I have no idea how many times they came in at least a dozen.
Well, I should think so, given that you're traveling to the next state to do the deal!
Can someone be considered a grinder via e-mail?
And, if I'm up to date, Joel needs some pictures of your Explorer in order to do a fair trade assessment.
Seems like you may have a price on the '09; it's just a matter of getting to a compromise on the trade in value.
It took me a year to decide on a builder to build the house I'm in.
Then again, it didn't take me near as long to conceive my son with his Mother. :P
I know the area, I live in the area, but I don't understand why. To me, when it comes to luxury cars especially European, if I can't afford to buy or lease new, I sure can't afford to maintain and repair used.
BTW, which town is your store in?
And the difference is, if it is 2 years old, it is usually about 40% less expensive to buy and it is still under warranty for 2 or 3 more years depending on brand! So, overall cost for vehicle decreases in some cases in the $50K range from new to used!
Why not? A scratch on the rear bumper is technically "an accident" and this will usually show up on a Car Fax.
A minor fender bender if properly repaired hurts nothing. A modern body shop will restore a car to just like new condition.
If we see a car has an accident history, we will ask the owner what happened. If it was a major accident, we won't keep the car. Otherwise, we will REALLY inspect it for frame or hidden damage and if it checks out, we will sell the car always disclosing the accident.
Some shoppers are bothered by this and others don't care.
Our "extra" car is a 1993 Ford Explorer that we bought from the origianl ownder three years ago. He made sure I knew it had been ROLLED when it was six months old! He wanted them to total it but they wouldn't. It did something like 13,000 in damage at the time.
He drove it 12 troublefree years. It tracks straight, has no rattles and is still tight. Had he not told me, I wouldn't have known.
Also, for 2300.00, I really didn't care.
No, we wouldn't have kept this one on our lot!
LOL That was too funny. Glad you survived (and hopefully your car did too).
We do buy a lot of high end cars at the auction and we will buy a prior accident car if we can see the damage was minor and properly fixed.
I just sold a beautiful BMW X-3 that had a minor accident reported. Nobody could see anything. All of the VIN stickers were in place etc. I would have bought it myself without blinking an eye.
Everything on it looked perfect except for one of the 3.0 badges wasn't 100% level but it was so minor you would need a laser level to tell or really be looking for it. I didn't notice it at first till the customer ran his own internal report on the car.
The guy that bought it ran an independent insurance company and found that it had been involved in an accident and needed $5,300 in repairs. Well $5,300 in repairs on a nearly brand new BMW could just be a bumper cover, fender and wheel/tire. The price as cheap enough and no frame damage was done to the car so he bought it.
Not the end of the world.
FWIW the repair was completely perfect and I seriously doubt any one would have picked up on it.
2025 Ram 1500 Laramie 4x4 / 2023 Mercedes EQE 350 4Matic
I can't understand the people that take four visits and two months to decide to buy something.
But, that's me.
But Isell...you don't care what color the car is, what options are on it, what model it is, what engine it has, if it is automatic or stick.......so of course you can buy a car in 5 minutes. :P
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I remember the blacboard jungle. I went to a high school reunion a few tears ago and I was surprised at how many teachers gave up after one or two years....because they were placed in an inner city school.
Glad they didn't steal your car, best to drive a Prius or something they wouldn't want.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Suppose the buyer does not need credit. Still no test drive?
Dollar wise he could have had more in depreciation on the luxury car than on the Saturn.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Don't count on that. I have known people who buy new luxury vehicles every year. They know that they won't have the car long and do nothing in the maintenance department and do little to keep it nice.
And when I say no maintenance I mean it, not even an oil change.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Even if it were a major accident, if it had been professionally repaired they couldn't do a thing except take the car back.
Generally, the greater the value of the car, the more people care.
Of course. Did you not see my posts? (51281-51284)
"Joel needs some pictures of your Explorer..."
He doesn't really. He's offered me $5K sight unseen.
"Seems like you have a price on the '09..."
No, not yet. My counter was on Monday afternoon. It is now Thursday afternoon. I haven't heard from him as to my counter offer.
Richard
Richard
hopefully, either way, there is no hangover.
just to refresh me memory, what is the difference between the selling price and your trade in value? if you don't mind me asking.
Richard
Shouldn't have posted my numbers before, but there is always room for a counter offer. I would say there is a big difference in a salesmen (joel) saying,"This is the sale price", and "This is as low as I can go on the price of the car."
" Eddie" (Eddie Bauer) always starts. It handles like crap and I won't take it over 60-65.
I would buy yours but a 2WD is saleproof here.
There are a couple of surprisingly large stand alone high end used places near me (philly area).And neither one is in a particularly wealthy part of the area (but they are reasonably close).
Tons of inventory. Especially BMWs. And one place seems to specialize in Mercedes. Must have 30 that I can see just driving by.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Richard