re: Using the Will Cover method for car buying

Very true. So its hard for me to understand a customer's point when they are offering 1500-2000k under invoice. Then they tell me XX is not my true invoice.

Well in that case..it's really not. The invoice paper does not include the price of getting the car inspected upon arrival, and all the other steps to get it ready for sale. So really there is more money into it than what the invoice shows.

I used to audit car dealership financials and there's so much that goes into the actual "profit" of a deal that 99% of the time your salesman doesn't even know what the dealership truly made

So Coach, one more question. I realize this is a bit subjective, but if I go in, shake your hand, look at a car, drive it, and have a number that is $500 over dealer cost and offer it, is that somehow offensive to the salesman?
I suppose it's their job to say "we can't sell it for that", and to seek to raise the offer some, but if it's an OK number over cost, why wouldn't they just take it and run? Close the deal and move on to the next buyer on the lot?

I've kept a general eye on this thread for a while, but is there information specifically on buying used that I've missed? I'll be in the market for a used 2013/14 Honda Accord EXL in the next few months.

Haha I figured as much. I guess better questions might be, are there any dealerships I should seek out/avoid in and around BR? What taxes/fees should I expect to pay, and which should I absolutely refuse to pay?

I already plan on having financing arranged before I walk in, but beyond that, I'm finding a dearth of information.

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but is there information specifically on buying used that I've missed?

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Not really, more generic... I helped a friend buy used on Friday and utilized a few things in the thread that helped. This may be long, but I'll put it here.

The main thing is don't throw out a number.

- I just sat there with my head down playing on my phone while the sales girl tried to spew bs about "Were only making a few hundred" I told her that that was complete bullshite and they needed to do better.
- She came back with NADA value on the car and said that it was priced appropriately and thats what they were willing to do. I told her that we were going to another dealership and she said "Well let me go make a copy of this for you.
- She soon returned with her sales manager to "introduce him and he asked what was going on... I told him that the price wasn't good enough and we were leaving. I told him that they had the exact same car on the lot earlier that sold for X because it was on the lot for 30+ days and they had to reduce it 1k to sell it.
- He came back with "Well, we just took this one in and its not even on the net, so theres no reason to reduce it... I said "Well, how about we come back in a month after it doesn't sell and you have to reduce the price and we can do the dance again?"
- He asked "what will it take" and I told him to come back with a legit number and we would talk
- In the end, she got the car for the $$$ of the one they sold earlier that was on the lot for 30+ days... This one had less mileage and better interior.

*** My point in being quiet is... She was emotional and wanted the car we went originally to see, the one they sold. She was willing to pay the asking price because she was emotionally attached, whereas I wasn't. I kept asking her what she was willing to pay and at what point would she walk away. She said she really wanted it, but she was thinking they could split the difference and had I thrown out a number when he asked what it would take, she would have overpaid.

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How did you find the information concerning the selling price and length on lot of the other vehicle?

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Didn't know the exact selling price. They had reduced it on Wednesday.

I believe cargurus.com does a good job of tracking listed prices and the changes.

She got the vehicle 1k under the low end of Kbb's pricing chart and 2500 under the "Fair Price" on kbb.com

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I like to talk to private sellers instead of dealers on used stuff. I don't know why but I just feel I am getting the straight scoop from the owner.

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I'll be going certified pre-owned, so that's about as straight as it gets, or else haha.

How much financial info do you have access to as a salesman?


I can't answer it for you but I'll let you try first

Joshjrn

I sell Hondas...let me know if you need anything.