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Prices Paid: Buying & Leasing Experiences Mercedes-Benz S-Class Lease Questions
134 messages, Last post on Sep 30, 2009 at 8:43 AM
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Replying to: delta737h (Aug 16, 2007 12:46 pm) John |
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Does anyone know the current Mercedes money factor and residuals for either a 2008 S550 (the one I'm looking at is MSRP at $102,515 with a sell price of $7,500 off) or an '08 S63 (MSRP at $140,090 with a selling price right about that). Thanks, Michael
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Replying to: qpmicro (Aug 30, 2007 4:37 pm) Can anyone help? |
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Replying to: delta737h (Aug 14, 2007 7:17 pm) Re: sales people's intelligence. I don't agree that the typcial sales guy should understand discounted cash flow analysis and I wouldn't trust his analysis anyway. But how about acquiring some basic product knowledge? Most of the ones I have met have never, ever, even "built" a car on the manufacturer's web site and have little grasp of which options are available for which model, etc. Call 10 Audi sales guys and ask if the performance seats are availalble as a stand alone option. Few know. Re: Julius' store in Greenwich. They have chosen a low profit margin path. This defeatist strategy is not my problem. Apparently, from what Julius says, they sell about 6 times as many low margin new units as high margin used cars. Why? I'm convinced that new car dealers sell far more new than used not only because of factory pressure but also because the average sales guy can't sell a USED car and so the store doesn't even try to hire anyone but willing new car order takers. Wiscasset Ford in ME is probably the biggest Ford dealership in New England. How do they sell so many new cars? Well, they are in a very rural area with low wages. Their new car sales guys are literally just $10-12 an hour order takers which saves the dealership money. They have almost no used cars.
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Replying to: blckislandguy (Sep 23, 2007 5:22 pm) Julius |
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Replying to: blckislandguy (Sep 23, 2007 5:22 pm) I agree with you 100%. The cheapest way to acquire a car is to buy a two or three year old unit and run it until the wheels fall off. I'm writing a textbook on car leasing which is the main reason for my participation in these forums. I love to help others as well as learn from them. I've learned a bundle just by reading a lot of posts not only from very knowledgable and experience people but by the inexperienced folks as well. It is actually the inexperienced people with very little leasing knowledge that often ask very good questions that really forces one to think (and sometimes drink). You also make a very good point regarding sales people and product knowledge. In fact, you hit the nail squarely on the head. It's product knowledge that really matters most. Regarding new v. used; it seems to me that there is a world of difference between the two. Used car sales is tough. One has to be able to properly appraise used cars and financing is some what more complicated. As such, I think used car sales people should be better compensated than the new car folks. I have no clue what the difference in profit margins is for new v. old. If I had to guess, I'd say that new car sales provides the larger profit margin and so it comes as no surprise that there are many more new car salesmen than used car salesmen. John
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Replying to: delta737h (Sep 24, 2007 2:29 pm) Factory pressure?? In Massachusetts, it is reported that Herb Chambers just paid north of 650 million for Foreign Motors West in Framingham. After the much delayed closing (the banks were understandably reluctant), BMW and MB each indicated that they wanted new 60 million dollar facilities. This at a time when the baby boomers are getting long in the tooth and the economy could be headed for the hopper. So, how do you move the new car iron and pay for the lavish taj mahals the factory makes you build? You hire platoons of pleasant young people for little money who like the idea of working 80 hours a week in a BMW store talking with their age cohort about cars that in truth neither one can really afford. But, around the corner in the used department is where the money is made.
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Replying to: blckislandguy (Sep 24, 2007 5:32 pm) Julius
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Replying to: juice1220 (Sep 25, 2007 5:13 am) New car dealerships remind me of the airline industry: everyone makes money except the airlines. The car dealer at best breaks even and everyone around him does well. This list includes the manufacturer, the real estate developer who sold him the taj majal the factory insisted he build (someone should come up with an idea for what to do with all these Hummer quonset huts that will be empty in a couple of years), his lawyers, CPAs, and attorneys, the insurance guys who insure the new cars he sells, the utilties he pays to heat and cool his all glass showroom in July and January (the utilitiy bills in these new all glass dealerships must be enormous; does Porsche really think that their dealer in Nashua, NH where it regularly goes below zero in the winter, really should have glass building?), etc. etc. all do very well and play golf on weekends. The dealer-principal? He works 80 hours a week and his wife wonders why he can't go down to Boca with her for two months in February. The dealership staff? They move around regularly thinking that there must be a dealership out there that is truly better and different. Somehow they hang in there until their mid-50's. (I've never seen anyone at a dealership over 55 unless his name was on the door.)
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Replying to: blckislandguy (Sep 25, 2007 6:05 pm) We would be very appreciative of the coffee.  I do apologize to everyone out there, if I did ever say anything offensive and in defense of the car industry, but there are a few dealerships and people in the car business that take great pride in their jobs, and try to make 100% sure that the customer is fully satisfied. But at the same time we also need to make a living. I am not a believer in destroying a customer but at the same time, I dont think the customers should destroy us. I truly believe that the manufacturers start all posts and blogs, just to get customers fired up, and beat up on dealerships, and then they sit back, chuckle, watch the fireworks, and get their product into the customers driveway. But oh well this is the life I have chosen, and for now it pays the bills. I am happy to make people happy, and still enjoy the look on peoples faces when they pick up their brand new car, and are excited. It is a great feeling to see a person pick up a brand new M5 or 335 coupe and look like a little boy on Christmas day. It makes the bad days worth it. Julius |
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