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Smart Shopper How Much Profit Should A Car Dealer Make?
677 messages, Last post on Jun 16, 2009 at 12:34 PM
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Replying to: dtownfb (Jun 10, 2009 5:40 am) A guy rolled in one day with this truck wanting to sell it. He said, I will take $xxx amount of dollars for this truck right now. We said OK. What he wanted was about $7K back of average the truck was nice and at the time used Power Stroke Diesels were bringing way out of the book. The guy selling probably left $15K on the table if he would have sold it himself. I picked up the phone called a customer and told him what he could buy it for. He gave me a $5K deposit over the phone to hold it till he got there.
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Replying to: joel0622 (Jun 10, 2009 10:55 am) |
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Replying to: joel0622 (Jun 10, 2009 10:55 am)
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Replying to: dtownfb (Jun 10, 2009 12:00 pm) What's "fair" got to do with anything? Did you read the part about joel's dealership paying $7k less than book for that trade in? The customer getting $15k less than he would have with a private sale. Is that "fair"??? If the dealership was in the business of being "fair" they would have called him an idiot and offered $7,000 more for his trade in. It's business. The dealership wants you to pay the most possible for a used car. They want to pay the least possible for your trade in. You should try to pay the least possible. My experience with dealing with friends who are sales managers is that you will end up paying more. The friends definition of a "fair" profit is usually higher than a customers. But, if you are looking for a no hassle easy buying experience, and don't mind paying more, the friend method may be the way to go. |
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Replying to: newcarbuyer12 (Jun 10, 2009 12:10 pm) Some dealers are on a strict turn program. When the inventory hits 60 or 90 days, you send it to the auction and take your loss and move on. |
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Replying to: dtownfb (Jun 10, 2009 12:00 pm)
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Replying to: jipster (Jun 10, 2009 12:26 pm) You don't have very nice friends 
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Replying to: jipster (Jun 10, 2009 12:26 pm) If you looked at a used car that was priced well below the market, would you tell the seller that you would be happy to pay them more? Don't think so.
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Replying to: joel0622 (Jun 10, 2009 12:45 pm) No kidding.. 
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Replying to: joel0622 (Jun 10, 2009 1:03 pm) Yeah I know... why you think I hang out here so much?  But, what I mean is, that while you may get a good(fair) and quick deal with a sales manager friend, you could probably do $400-$800 (or more) better haggling out a deal yourself. |
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