3,468
 

Straight from a Car Salesman (tips on buying, etc.) (Q/A)


 
2
most viewed right now
  82
54 comments @thotties
3
most viewed right now
+39  75
40 comments @thotties


section   (0 bx goons and 1 bystanders) Share this on Twitter       Share this on Facebook
 

 5 years ago '06        #76
Sammyboi22 1 heat pts
space
avatar space
space
$13,865 | Props total: 681 681
 pootysmack said
what if you have good credit, but don't want high monthly payments so you put down half of the sticker price plus trade in from other car and finance the rest?
Thats not a bad idea. The idea of putting no money down is great for the dealership, terrible for the consumer. By financing $50k instead of only $25k they are going to make more in the reserve portion if you finance through the dealership. When you have a large down payment, they arent making as much on the reserve so they cant cut the asking price as much. Many times they store will lose money on the actual car (front end) and make the money on the financing, warranties, etc (back end). So if you come in pre-financed from a credit union, for half of the car and you are putting down the rest, they arent going to cut you a deal on the car, they have to make that $$$ someway, these stores don't operate for free.

This is not to say that warranties are a scam, or not necessary. They are insurance policies, almost all coverage's sold are owned by another company.

Also, for all of you out there looking to purchase a car with $0, or very little down. BUY GAP INSURANCE!!!! there are toooooo many people who suffer a total loss 3-4 years into owning a car and are on the hook for an extra 5-8k after their car is totaled.

 4 years ago '14        #77
cap504 
space
space
space
$9 | Props total: 2 2
 Sental said
Been in the business for a few years best advice I can give is to shop on the last day of the month. Every dealership has goals and if you walk in on the last day of the month I promise you will get a better deal. After going over pricing for a few minutes get up and walk out they will hop up and start cutting the price even more.
Know the value of your trade!!! Do a kelly blue book search and NADA because if you don't know you will get fu*ked!
The best advice I can give is go to truecar.com put in the info on the car you want and true car will give you the dealers invoice price which is always thousands below the sticker price. True car will also give you the dealers hold back which is the money under invoice that the dealer has to hold back and still make a small profit. The best deal you can get at a dealer is to walk in with a print off from Truecar show the salesman after the test drive and let him know you want the invoice price and split the hold back amount with the dealer.
I like this advice, I will use it to buy my next car. Thanks

 4 years ago '04        #78
DJ Maximum|M 64 heat pts64
space
avatar space
space
$46,949 | Props total: 26653 26653
Advice on no money down leasing? I know u must have like tier 1 credit which is 720 or higher but what do yall think I saw a 2015 toyota corolla for 198 a month for 36 months nothing do at signing up first payment and no additional fees. Good Deal?

 4 years ago '10        #79
Trilluminati GA 435 heat pts435
space
avatar space
space
$51,944 | Props total: 17968 17968
need to get a good boost in m credit score. I got a good job but not trying to pay to much for monthly payments nor the down payment. I'm lookin at a 2010 Caddy CTS or a 2015 Chevy Impala LTZ. Any suggestions?


Last edited by Trilluminati GA; 02-21-2015 at 12:28 PM..

 4 years ago '12        #80
bpw5009 1 heat pts
space
avatar space
space
$624 | Props total: 275 275
 DJ Maximum said
Advice on no money down leasing? I know u must have like tier 1 credit which is 720 or higher but what do yall think I saw a 2015 toyota corolla for 198 a month for 36 months nothing do at signing up first payment and no additional fees. Good Deal?
yea its reliable transportation with a full warranty and good on gas. great deal

 4 years ago '12        #81
bpw5009 1 heat pts
space
avatar space
space
$624 | Props total: 275 275
 Trilluminati GA said
need to get a good boost in m credit score. I got a good job but not trying to pay to much for monthly payments nor the down payment. I'm lookin at a 08 Caddy CTS or a 2015 Chevy Impala LTZ. Any suggestions?
do a short term lease (24mo) make all your payments on time your credit will go up then by the car you want.

 4 years ago '10        #82
Trilluminati GA 435 heat pts435
space
avatar space
space
$51,944 | Props total: 17968 17968
 bpw5009 said
do a short term lease (24mo) make all your payments on time your credit will go up then by the car you want.
thanks for the gem fam

 02-24-2015, 08:01 PM         #83
AlmightyQuavo  OP
space
space
space
$n/a | Props total:  
I'm going to a dealer only auction to cop my first car, my uncle talk highly about the auction but what can I really expect.. Car of choice would be a 2010 - present acura TL or tsx, how much you think the dealer auction price range will be; since its a bidding auction I'm hoping the other bidders are going for the luxury cars like bmw, benz and etc so I could get a good deal

 4 years ago '04        #84
DIGI 116 heat pts116
space
avatar space
space
$9,267 | Props total: 767 767
How much of a difference is there between the cost of a vehicle with a manufacturer discount (i.e. GM or Ford employee discount) versus factory costs that the dealer pays?

I ask because how can a dealer make money on an employee discount sale (which is "supposed" below dealer invoice) that includes other public incentives (like 1-3k cash back)?

Unless the "dealer invoice" price isn't really the price the dealer pays...

 4 years ago '12        #85
bpw5009 1 heat pts
space
avatar space
space
$624 | Props total: 275 275
 DIGI said
How much of a difference is there between the cost of a vehicle with a manufacturer discount (i.e. GM or Ford employee discount) versus factory costs that the dealer pays?

I ask because how can a dealer make money on an employee discount sale (which is "supposed" below dealer invoice) that includes other public incentives (like 1-3k cash back)?

Unless the "dealer invoice" price isn't really the price the dealer pays...
There is alot of factors in there I dont really wanna get in to. But some manufactures pay a dealer small amount for employee deals. Why are you concerned with dealer profit? If you need help getting a good price on a car I can walk you through it.

 4 years ago '04        #86
DIGI 116 heat pts116
space
avatar space
space
$9,267 | Props total: 767 767
 bpw5009 said
There is alot of factors in there I dont really wanna get in to. But some manufactures pay a dealer small amount for employee deals. Why are you concerned with dealer profit? If you need help getting a good price on a car I can walk you through it.
Because I'm only interested in paying at most 5% above dealer cost (not invoice). That way, it's still profitable for the dealer, and I get below msrp.

 4 years ago '12        #87
bpw5009 1 heat pts
space
avatar space
space
$624 | Props total: 275 275
 DIGI said
Because I'm only interested in paying at most 5% above dealer cost (not invoice). That way, it's still profitable for the dealer, and I get below msrp.
what kind of car are you looking to buy? Man don't stress trying to figure out what dealer cost because there is alot that factors into it. If they are a floorplan dealer they pay interest on the car every month so the cost changes. Some manufactures pay dealers money when the hit certain sales objectives in a month so you might be able to catch a good deal on something depending on what you buy. Technically even if you pay invoice you are still getting rebates in addition to that anyway. So price a couple dealers who ever gives you the best price buy the car.

 4 years ago '04        #88
DIGI 116 heat pts116
space
avatar space
space
$9,267 | Props total: 767 767
 bpw5009 said
what kind of car are you looking to buy? Man don't stress trying to figure out what dealer cost because there is alot that factors into it. If they are a floorplan dealer they pay interest on the car every month so the cost changes. Some manufactures pay dealers money when the hit certain sales objectives in a month so you might be able to catch a good deal on something depending on what you buy. Technically even if you pay invoice you are still getting rebates in addition to that anyway. So price a couple dealers who ever gives you the best price buy the car.
I'd like to compare dealer cost plus my offer of profit (with all fees except document fee included) against the supplier/employee discount plus rebates price.

Currently looking at the Equinox LTZ and the Rogue SL.

 4 years ago '12        #89
bpw5009 1 heat pts
space
avatar space
space
$624 | Props total: 275 275
 DIGI said
I'd like to compare dealer cost plus my offer of profit (with all fees except document fee included) against the supplier/employee discount plus rebates price.

Currently looking at the Equinox LTZ and the Rogue SL.
Just my advice but unless you know someone who works at a dealer you will never find that cost. Again price dealers near you and buy from whoever gives you the best price.

 4 years ago '04        #90
DIGI 116 heat pts116
space
avatar space
space
$9,267 | Props total: 767 767
 bpw5009 said
Just my advice but unless you know someone who works at a dealer you will never find that cost. Again price dealers near you and buy from whoever gives you the best price.
It just so happens that my brother works at a Nissan dealership. Also, there are sites that provide actual dealer cost if you pay a small fee for the information, which I can use for GM, Ford, or Chrysler vehicles as needed.

 4 years ago '12        #91
bpw5009 1 heat pts
space
avatar space
space
$624 | Props total: 275 275
 DIGI said
It just so happens that my brother works at a Nissan dealership. Also, there are sites that provide actual dealer cost if you pay a small fee for the information, which I can use for GM, Ford, or Chrysler vehicles as needed.
The thing you aren't factoring in is will a dealer even take the deal you are offering. Just seems like alot of work to get the same deal everyone who prices their local dealer will get, but hope it works out for you.

 03-03-2015, 03:43 PM         #92
DwRecKeR77053  OP
space
space
space
$n/a | Props total:  
more gross profit in used cars than new cars..
mark up in new cars is only packages on a car- mid level to top of the line.
the highest profit to be made is on used cars, which is why some of them cost as much as new cars and in some cases more.

you have to sell cars before you move into the finance department and thats only if you are good at selling cars. F&I (finance/insurance managers) make more money than car salesmen, unless you are a top seller out of 10-30 people and been selling cars for 15+ years at your dealership.

newbies work bell to bell(open to close) 6 days a week, including holidays during the week.

car sales is more challenging, due to internet pricing which cuts into the salesperson's commission. before internet pricing, salesman made more money.

sales managers call the shots. they are the ones who approve deals, so salesmen are at their mercy sometimes. they decide if a car is worth losing profit on and how much can be lost on the deal. it doesnt matter how much the customer thinks they are going to try and get over because they cant. the business is out to make the most profit which is why the bait and switch process takes place in dealerships. car salesmen are envied, but most people dont really understand the b.s. that they have to put up with from some idiotic customers, crazy backstabbing coworkers stealing customers from you, unrealistic managers, long hours with sometimes very little to no traffic coming in. Oh and lets not forget those months your numbers are low and monkeys (managers) are on your back. that is more than enough pressure on salesmen.

a lot of times they dont have time to learn 100% of the product because showtime starts when you come out of that 1-2 week training class being a new hire. you are pushed in the water at that point and you must swim. you learn as much as you can in your downtime when you are not calling customers to get them in or talking to people on the floor to make a sale or get referrals. at the end of the day, the manager cares more about your numbers than how much you know about the car. if you knew 100% of the product and your numbers are not good enough, the dealership wont keep you more than 2 months. car business is a dog eat dog world. most salesmen have a great heart, but are taken advantage of, which makes some very annoying to deal with and give car salesmen in general a bad reputation.


advice is know your credit before you walk in the door. most people say they have good credit and really dont. you waste your time and the salesperson time when you dont have good enough credit to buy the car you want. no one is going to give you the best deal without doing a credit application. if you run your credit before coming in the door, bring your paperwork to prove it.


know your own product, but at the same time, dont give the salesperson a hard time. how you treat them determines how they treat you financially in the deal from the front end of the sale to the back end of the sale.


Last edited by DwRecKeR77053; 03-03-2015 at 04:00 PM..

 4 years ago '05        #93
Deeangoe 2 heat pts
space
avatar space
space
$13,189 | Props total: 832 832
did i get ripped off?

question for those car salesmen out there

back in 2007 i got my first new car which was the 2007 chevy tahoe, the year they switched to the new body at the dealership we got approved for the lease, and we only gave $1,000 as a down payment

we signed the papers, left the dealership, car was mine already, a month later they start calling, saying that the leasing or financing company needed a extra 1000 down payment for me not to lose the car, so scared i gave another 1000 down

I'm now in the process of getting another car, and for leasing purposes it makes no sense to give such a large down payment for a car that you are paying for the depreciation of. so I've read online that once your are approved that thats it, unless prior to finalizing the papers if the leasing company requires for you to give a bigger down payment, otherwise ne thing after finalizing the papers its all profit for the dealership that are trying to get more.

 4 years ago '06        #94
vinylfiend1 1 heat pts
space
avatar space
space
$1,315 | Props total: 766 766
I'm looking to lowball these dealers to kbb private party value on a used Tacoma , no one has bit yet.

 4 years ago '12        #95
bpw5009 1 heat pts
space
avatar space
space
$624 | Props total: 275 275
 rarespecies said
suggestions on a second time buyer with a low credit score and one repo? looking to make a low (1-2K) down payment and make payments of $450+ a month...?
Try to get approved on a short term lease. Pay it on time and then see what your options are at the end. If you buy a car with bad credit and a previous repo the interest rate will be sky high

 4 years ago '12        #96
bpw5009 1 heat pts
space
avatar space
space
$624 | Props total: 275 275
 rarespecies said
APR of north of what number? I had that issue with my last car, so I'm prepared.

Any suggestions on places I could I apply for the sort of lease your suggesting? Any companies you could recommend? I live in Cali.

Sincere props for responding.
I mean I havent seen your credit but if I had to guess you would be looking at 17-18% atleast on something used maybe a tad lower on a new car. I don't know what size car you need but a compact (corolla civic cruze focus etc) will be your best shot getting approved for on a lease. If you need something a little bigger (accord camry fusion malibu etc)

 3 years ago '14        #97
M Jizzle1986 7 heat pts
space
avatar space
space
$1,355 | Props total: 4443 4443
Good post for people like me. So from your experience is it best to get approved for a loan by a bank or credit union before heading to a lot

 3 years ago '12        #98
bpw5009 1 heat pts
space
avatar space
space
$624 | Props total: 275 275
 M Jizzle1986 said
Good post for people like me. So from your experience is it best to get approved for a loan by a bank or credit union before heading to a lot
It can def help. Then you only have to worry about price of the car because the financing part is out of the way.

If anybody else has a question @me I forget to check this section

 3 years ago '16        #99
MarloStanTrill 8 heat pts
space
avatar space
space
$1,227 | Props total: 1510 1510
 KrayzieCMB said
I deal with a lot of shady credit in my area and get my time wasted a lot. I also don't have much of a customer base yet. So I am stuck waiting at my desk staring into the lot waiting for ups and there are days where we get literally 0.

We charge a $399 admin fee at our place which is fairly reasonable. My father checked out a dealer when he was in Florida and they charge $999 admin fee.

Also, to all the people that don't want to buy from a dealer because you think it is more expensive. Just remember, we will always give you some sort of warranty with your purchase. If you buy private the buyer won't guarantee anything.
maybe the process should change. people with bad credit know it, and they are not trying to waste your time.

The problem is they think: I have decent job (with stubs), I have saved up for a nice down payment, and even though my credit sucks, I THINK i should qualify for a car- even if it higher interest rates

Maybe the process should change so sav customers time too

 3 years ago '04        #100
nitetrain8601 26 heat pts26
space
avatar space
space
$16,457 | Props total: 7873 7873
 MarloStanTrill said
maybe the process should change. people with bad credit know it, and they are not trying to waste your time.

The problem is they think: I have decent job (with stubs), I have saved up for a nice down payment, and even though my credit sucks, I THINK i should qualify for a car- even if it higher interest rates

Maybe the process should change so sav customers time too
As someone with bad credit, I get what you're saying, but the dealerships/finance people are simply trying to protect themselves.

Home      
  





 


 
 




most viewed right now
online now  36
Image(s) inside Big U EXPOSED As OWNER Of "CRIP LLC" Trying STEAL NIPSEY "TMC SLOGAN",..
199 comments
22 hours ago
@hiphop
most viewed right now
+32online now  31
Image(s) inside The Jamaican drink that gives you extra inches in bed
230 comments
2 days ago
@misc
most viewed right now
+79online now  26
NBA 10 Things you Didn't Know About The 1996 Bulls
119 comments
2 days ago
@sports
most viewed right now
online now  22
Video inside Jun 18 - Jay Z was bad for losing 92 Bricks. Over $1B Worth Of Cocaine ..
95 comments
19 hours ago
@news
back to top
register contact Follow BX @ Twitter Follow BX @ Facebook search BX privacy