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Edmunds.com - Confessions of a Car Salesman

41 messages,  Last post on Jan 31, 2013 at 10:46 AM

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What is this discussion about? Car Buying, Car Leasing, Car Selling

Confessions of a Car Salesman - We invite you to read the following account of Phillips' day-to-day experience on the car lots. Doing so will broaden your understanding of the dealership sales process. It will also cast a new light on the role of the car salesman. And, finally, it will help you get a better deal — and avoid hidden charges — the next time you go to buy or lease a new car. (more)

Messages Page 5 of 5

#36 of 41 bad credit auto loans and used car sales by salemgurl

Apr 28, 2012 (10:41 am)

So, it seems from my experience....
 
*if you have bad credit and you are approved for an auto loan....
*you have to accept whatever car the dealer approves you for....
*you have to drive that car off the lot - asap (once the documentation is signed)
 
Is this true?
 
and if so, why? (*good reference point for others with bad credit)
 
*Everyone would rather have the vehicle they actually like and pay the payments for that vehicle (especially if the vehicle they want is cheaper, and with lower miles than the vehicle they will ("put someone in" at a higher price)...
 
sounds shady....but if you need a vehicle and they've found ONE bank to approve you....
 
THEN WHAT?
 
1) can you accept the auto loan from that bank
 
AND
 
2) not take the car the sales person wants you to take
 
OR/ALSO,
 
3) can the the person creating the loan DENY the "bad credit auto loan" ALL TOGETHER if the person with bad credit decides to use the "LOAN" elsewhere?
 
Everyone would prefer for the salesperson to "hold" the approved loan for 30 days and locate the vehicle of their choice ---
 
*for the approved upon loan amount
 
~~~~
 
Thank you for your "positive" responses!

#37 of 41 MYOB Confessions of a Car Salesman [KarenS] by mikeytp

Jan 30, 2013 (8:52 am)

Replying to: KarenS (Dec 15, 2008 1:59 pm)
While buying from a perfectly polite sales person at an immaculate dealership, I pondered the technique where the dealer "discloses" invoice.
 
My response: "You guys are doing great. I'm sure you can take care of your own interests.
 
My interest lies in purchasing this vehicle for the lowest price possible. By the end of today, I'll be writing a check to someone. I hope it's you. Please give me your best shot."
 
By the end of the day, I wrote the check for $1K below the Edmund's value.
 
Conclusion: Ignore the dealer chatter and focus on your own goals. (This is especially effective with new cars, where you can buy from one guy and have it serviced by anyone!)

#38 of 41 Re: MYOB Confessions of a Car Salesman [mikeytp] by audia8q

Jan 30, 2013 (3:17 pm)

Replying to: mikeytp (Jan 30, 2013 8:52 am)
My interest lies in purchasing this vehicle for the lowest price possible. By the end of today, I'll be writing a check to someone. I hope it's you. Please give me your best shot."
 
I totally understand the customers personal interest, I'm a consumer also.....Oddly the lowest possible price isn't the same to every consumer. If you get tortured, lied to and water boarded to get the lowest price is it really worth it? Quite a few dealers will administer such tactics with just about every customer. OTOH, walking in, seeing a pretty fair price posted for everyone on the car and being able to get in and out quickly without the dog and pony might be a very good deal to others.

#39 of 41 Re: MYOB Confessions of a Car Salesman [audia8q] by karhill1

Jan 31, 2013 (4:41 am)

Replying to: audia8q (Jan 30, 2013 3:17 pm)
The price posted would be established by the dealer. Since this price is not subject to negotiation it cannot really be considered to be a "fair price."
 
Some people may, indeed, be willing to pay more than a very good deal to avoid the "dog and pony show." I, as a car buyer, am glad there are such people as the profit they provide to a dealer allows me to achieve a much better price.
 
As mikeytp showed, the Edmunds TMV is simply an average price paid. Inherent in an average price paid is half of buyers pay more while half pay less. Personally, I would prefer to pay less. It really does not take much effort to pay less.

#40 of 41 Re: MYOB Confessions of a Car Salesman [audia8q] by sandman_6472

Jan 31, 2013 (7:45 am)

Replying to: audia8q (Jan 30, 2013 3:17 pm)
Agree totally...I want both sides to feel that it was a fair deal with both sides walking away happy with the deal. Car buying should not be a death match every time but a pleasant experience. They have a product I want to buy and I have the money to spend on that product. Civility and honesty need to be two very important variables in this equation as I still believe that word of mouth is a very tangible asset and both sides realize this. No one wants to be driving a vehicle they feel like they paid to much for as it will ruin the experience for as long as one owns that vehicle. i know I want to walk away with a very positive feeling since this is one of the biggest investments made at certain intervals over one's lifetime.
 
Make it easy, fun and affordable and I'm one happy camper!
 
The Sandman

#41 of 41 Re: MYOB Confessions of a Car Salesman [sandman_6472] by roadburner

Jan 31, 2013 (10:46 am)

Replying to: sandman_6472 (Jan 31, 2013 7:45 am)
Agree totally...I want both sides to feel that it was a fair deal with both sides walking away happy with the deal. Car buying should not be a death match every time but a pleasant experience. They have a product I want to buy and I have the money to spend on that product.
 
I agree 100%. I don't want to leave $1,000 on the table but I'm not going to obsess over the fact that someone else might have paid a few dollars less. I'm not in retail sales, but I have noticed that those grinders who fight tooth and nail to save the very last penny tend to be pretty miserable individuals.

Messages Page 5 of 5

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