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Smart Shopper Stories from the Sales Frontlines
47836 messages, Last post on Nov 22, 2009 at 7:50 PM
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Here is a story from my sales guy (which means I tell in first person story from point of view of the guy who just blew my sale). This foreign guy calls me. He's been our service customer for last five years and tells me right away he saw '08 Subaru STIs have a blowout sale from mfr. It's zero percent and (darn) he already knows about the tiered bonus program. Moreover, he wants the VIP program (which is 2% below invoice minus all incentives). So I come to his place, give him full 360, we drive around, he likes the car. We talk a lot, he makes a few market condition remarks, but all is nice and smooth, I sort of deflect that comment with all our "everything is great" mantra, you know the drill. We make an appointment to show his car to my UCM. It's a nicely maintained WRX, which was all serviced all in our garage, so I make all these nice comments to keep him interested. He brings the car this evening (I wasn't there), the UCM put a number on it. We pick it up next day for a full quote. As I said, he takes away everything (as VIP requires) - it's practically a tripple net (2% under invoice) for us minus all bonuses, Subaru pays us a fee for the delivery. So I quote him that and our used car number - bastard said no. Stupid KBB and Edmunds  . They say it's over 8 grand, close to $8.5K. We put $6K on it. I know it's a little stingy, but you know those books are always wrong and they don't send checks - and the guy looked like he will take that STI. Well, if it's not meant to be ... What a stroke  Now note from the author (the stroke customer in this story): I understand they want and need something to sustain them and "program" sales take away pricing power. So the trade is the only place to make real money. However, I must say 6 grand was a theft attempt. First they give me all that talk that when if it's about the money, there is no problem and my car is so great (uh and ah), because it looks so well and they have all records in their file and then ... $2200 below "good" $1100 below "fair" in KBB (btw KBB is kind of a king when it comes to all price comparisons in our region, together with Black Book)  . When I think back, I did expect something like $8500 (just because all the uhs and ahs and "we will take it to our lot" statements), but that probably was unrealistic. I would probably accept something like $7500-7800, which means anything above seven grand, while a lowball, would keep in in the game. BUT SIX ???? Who do they think I was? I was quite clear that I CAN take that STI, but I DON'T NEED IT, i.e. I really like my car and can keep it for a while - that STI was a good upgrade, but not a necessary and most desirable one anyway. After all it was all about the price and I made it clear. Yet - they practically slammed the door and took out a possibility of a "refinement". This much apart on a 30K deal I just don't see happening. I don't get offended by people thinking something is worth less that I think, but that six grand was as close to an insult as it gets without actually being one. So - I'm a stroke at the end  Well, but to eying that BMW for 15 grand more  Lesson for salespeople - don't make statements you can't back up. Don't say "price will not be a problem" without some kind of qualification (like "reasonable" clause) because you put ideas in customers' heads. Don't uh and ah a trade car if later you put some lowball wholesale value on it - again, you put wrong ideas in peoples' heads.
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Replying to: dino001 (Nov 12, 2008 5:20 pm) If you think about it, they can't stay in business selling new cars at below invoice while overpaying for trades. Maybe yours was worth top book, I don't know, but the market is so tight right now that nobody wants to be stuck with a trade in that came in too high. To resell your trade, they'll have to deal with grinders too who'll lowball them on it. As to your point: they said "price won't be a problem" well it wasn't, you coulda hada Subie STi for under invoice. Maybe your trade was uh and ah, but that's all they were willing to pay for it. If it be in crappy condition, then they'd pay $4k for it. I don't know. And besides you can't expect a dealer not to "admire" your trade, no matter what shape it's in. If you're worried about the trade, sell it privately.
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Replying to: boomchek (Nov 12, 2008 5:55 pm) Truth to be told, I'm too lazy/busy to sell it myself, but too stingy/cheap to give it away for that. I'm willing to "pay" for that convenience service - just this time the price seemed too steep to me. Yeah, if they offered something like seven and change, I might just say "low, but screw it" - at six it really smacked me. It may be that I'm unreasonable, but for for today I like my car, money and time more than I like to have that new STI - and it also looks like they wanted my car far less than they wanted to sell me a new one. It of course is today and tomorrow everything can change. It will be ackward next time at the place when I do an oil change and come across the guy, but that's allright - not everything has to be success. Just to be clear - the sale part was not a complete zero for them, as they collect $500 "doc/whatever" fee (perhaps not a pure profit, but definitely significant gross) and they probably collect a few hundreds from Subaru for the VIP sale. So it's not exactly "nothing". For the trade being worth what's worth - well, just a few months ago (early summer) Subaru had a guaranteed trade program (loyalty) and then it was $11.5K or so (which was grand or so over book value). Values do go down, as the circumstances do change and manufacturer's money (then) is different than dealer's (now). All understood. I guess I just don't want that STI yet. With my luck they will run out of them and then bring the trade program back .
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Replying to: smallcar (Nov 12, 2008 2:15 pm) . I have told my crazy brother-in-law!!!!!!!
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I was poking around the showroom of a local Ford dealership while a friend was at the parts department when in the corner I saw a fully restored 1949 Ford F-3 for sale. Used car sticker on it and everything. I asked a salesman about it and it was just recently sold and awaiting its owner. Man that was a mighty fine looking truck. Any of you guys ever have a classic like that in your dealership?
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| what kind of repairs are needed to get this Boxster going? | |
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Replying to: snakeweasel (Nov 12, 2008 7:05 pm)
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Replying to: bolivar (Nov 12, 2008 9:07 pm)
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Replying to: snakeweasel (Nov 12, 2008 9:18 pm) The models are: F-1: 1/2 ton (4,700 GVWR max) F-2: 3/4 ton (5,700 GVWR max) F-3: Heavy Duty 3/4 ton (6,800 GVWR max) F-3: Parcel Delivery (7,000 GVWR max) & optional rear spring pkg (7,800 GVWR max) F-4: 1 ton (7,500 GVWR max) & optional 1 1/4 ton pkg (10,000 GVWR max) F-5: 1 1/2 ton: Conventional, school bus, and cab over engine (C.O.E.) (10,000-14,500 GVWR) F-6: 2 ton: Conventional, school bus, and C.O.E. (14,000-16,000 GVWR) F-7: Conventional (17,000-19,000 GVWR) F-8: Conventional (20,000-22,000 GVWR) |
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Replying to: explorerx4 (Nov 12, 2008 4:08 pm) What I'm noticing, people who are interested in this car, are also interested in 3 others exactly like it, albeit not in as good of shape, and with tiny miles. Plenty of interest, but as I'm sure a lot of sales people on these boards will tell you, people are being very careful with their money right now. My theory.....while I've got the cream of the used GM lot sitting in my driveway, there's no shortage of others on the market that people want to see/drive. I'll either get close to the "ask" price. Or, I'll keep it (for reasons I can't really explain). But, like your sale, I've got two people coming this a.m. to look at it. One is returning after seeing it (which means they've been shopping and found nothing better for the price). The other, via our phone conversation, thinks that if the car is what I say it is, would be perfect for them. Neither may show up, however. But, if they do, I'll be in the same situation you were in. I'm not out to rape anyone here. I just want what I consider a fair price. dino.....tough situation, from both the dealer's perspective, as well as yours. You've got the recent "guaranteed" trade value program, which has now expired (which was probably funded by the manufacturer). And, you've got the dealership, who's trying to make as much money as they can on used cars, since they can't make much money on the new side of the house. As you note, Edmunds, KBB, NADA, etc are guides. I've yet to see a situation where they were "dead on" in their used appraisals. But, since the dealer's done all the servicing, and they know the car is a fine example of the breed, I'd be a bit perplexed why they'd go "skinny" on the appraisal. Personally, I'd shop your car to a couple of different dealerships to get a "feel" for what the true trade value is. It might be $6K. It might be $7K. It might be $8K. You don't know unless you get more than one dealership to put a number on it. I definitely wouldn't have considered you a stroke, though
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