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

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 2 years ago '12        #81
bpw5009 1 heat pts
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 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
 2 years ago '12        #82
bpw5009 1 heat pts
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 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.
 2 years ago '10        #83
Trilluminati GA 433 heat pts433
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 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, 09:01 PM         #84
AlmightyQuavo 
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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
 2 years ago '04        #85
DIGI 116 heat pts116
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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...
 2 years ago '12        #86
bpw5009 1 heat pts
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 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.
 2 years ago '04        #87
DIGI 116 heat pts116
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 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.
 2 years ago '12        #88
bpw5009 1 heat pts
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 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.
 2 years ago '04        #89
DIGI 116 heat pts116
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 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.
 2 years ago '12        #90
bpw5009 1 heat pts
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 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.
 2 years ago '04        #91
DIGI 116 heat pts116
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 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.
 2 years ago '12        #92
bpw5009 1 heat pts
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 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.
 2 years ago '05        #93
DwRecKeR77053 
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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 05:00 PM..
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 2 years ago '05        #94
Deeangoe 2 heat pts
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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.
 2 years ago '06        #95
vinylfiend1 1 heat pts
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I'm looking to lowball these dealers to kbb private party value on a used Tacoma , no one has bit yet.
 1 year ago '15        #96
rarespecies 7 heat pts
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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...?
 1 year ago '12        #97
bpw5009 1 heat pts
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 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
 1 year ago '15        #98
rarespecies 7 heat pts
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 bpw5009 said:
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

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.
 1 year ago '12        #99
bpw5009 1 heat pts
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 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)
 1 year ago '14        #100
M Jizzle1986 1 heat pts
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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
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