Good read to see what cars sales are like from inside the dealership.
That way I get to avoid car dealerships.
I have relatives who are auto salespeople. They call the dealership ‘Crazy Town’ and describe it as basically a collection of larcenous sleazeballs.
Reminds me of the movie “Flywheel”.
Uplifting. Recommended.
Cheers!
For over a year I’ve received notices that the dealership which sold my father a SUV would buy back the vehicle as there was a demand for this particular type of used vehicle.
Fine. So, I had the SUV detailed and showed up at the dealership to see what they would offer me for it. Before doing that I had checked out the Kelly Blue Book price and what Ebay had in recorded sales for my area for this particular vehicle. The average Blue Book price for this SUV was $35000 - #36335.
The dealership offered me $24000. My dad owes the financing company $10000 more that that, and the dealership knows that as they sold and financed the vehicle.
I’m going to put it on Ebay but sales across the board on Ebay have tanked. Someone today told me Ebay sales are down 90%!
Although I have never worked at a dealership, I do have insider experience from years working in Dealer Fiance at a bank.
This article is old, but still very relevant. I read it years ago and its still valid.
I actually look forward to bying a car. I always get my way. I’m not naive enough to think I’ve screwed over the dealership, but I do know the little tricks they use, and I use them to my advantage.
I usually end up having the Sales Manager dealing with me as the poor sales agents have to give up.
And then when I get to F & I? We start all over again!
Fun stuff. IF you know what your doing.
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I thought this was a Romney article.
I look for nice cars that have been well-cared for and are around 100k miles. Those have usually been well-maintained and will have 50k left in them easy, often 100k. I buy them under $10k, take care of them and drive them for 5-6 years.
Either a private sellers or a dealer. Private sellers are easier to work with but at a dealer, you just shoot them a price about $2k under what they asked and be prepared to walk. I may walk 3-4 times but eventually I’ll hit a winner!
You do have to know something about cars to make sure you don’t buy a heap, but it’s been working for me for almost 20 years.
I don’t buy from dealerships anymore. But it’s excellent reading for knowledge. Anytime anyone knows more about how sales of something work they have a far better chance at not getting screwed, and getting a decent deal.
I’m thinking that the writers second job was at a Saturn dealership.
The first was most likely Toyota with it’s crew cabs and such.
Interesting article. Can’t believe I read the whole thing. My advice as an older person and Dave Ramsey fan is, Don’t buy new in the first place, ever. Pay your payments for your NEXT car now while you drive your current car so you can pay cash when the time comes.
I have a friend with an interesting strategy. He buys classic street cars like Chevelle SS 396 that someone else has spent a fortune and toiled to restore. The problem with restoring a car (unless it is rare or a classic) Is that you always take a beating when you sell. He takes advantage of that. Drives the car until it needs restoring again then sells it for about the same price he bought it for, to a gear head that wants to restore it. The result is he always drives a cool car that doesn’t depreciate.
I worked at dealership like the first one for a week.
I almost hate to say this but I have a Dodge Truck dealership that I like. Really like. They have given me great deals on vehicles including the trade-ins and no horsing around. In-out in about an hour. Their service center has done a great job and at low prices. I simply cannot say that dealership has treated me badly in any way. Go figure.