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re: Myth about paying cash for cars
Posted on 8/7/14 at 12:46 pm to brgfather129
Posted on 8/7/14 at 12:46 pm to brgfather129
quote:
people are willing to pay a premium
So educate my ignorant arse.
For example, this Rogue for $23,998 (only because that is the car given in the example above).
LINK
On KBB, they say a fair dealer price is $23,448
LINK
$24,478 certified pre-owned from a dealer
LINK
and about $21,800 from a private party.
LINK
Is this train of thought on the right track?
No not discussing whether or not a Rogue is worth $21-$23K, but is it basically agreeing to paying probably more than a private sale, and possible more than what you could haggle down to with a dealer sale, but with the benefit of knowing the price of car while you look at it rather than afterwards?
This post was edited on 8/7/14 at 12:47 pm
1
Posted on 8/7/14 at 12:47 pm to yellowfin
quote:
Hammertime
quote:
You seem to really get emotionally involved when it comes to purchasing a vehicle
Hammertime vs car salesman
OR
Kashonly vs women
Not sure which one has more hatred towards their nemesis
Posted on 8/7/14 at 12:47 pm to alajones
I'm gonna come to your dealership in gumpland and pay cash for a car.
Watch the deal I get.
Watch the deal I get.
Posted on 8/7/14 at 12:54 pm to Ignignot
People go to carmax for convenience. They (along with cash for clunkers) artificially raised the wholesale market prices by sending inexperienced kids to auctions and paid them per car bought, no matter the price. They basically attempted to corner the supply of used cars since one of their "advantages" is that you can buy any car from any lot in the country that they own from any branch. Basically the Baton Rouge a CarMax has a nationwide inventory so it eliminates the need for people to "shop you"
I still think it's a nearly impossible idea to completely implement due to how tied into the communities dealerships often are
I still think it's a nearly impossible idea to completely implement due to how tied into the communities dealerships often are
Posted on 8/7/14 at 1:07 pm to LSUfan4444
quote:KBB is a guide. Nothing more nothing less. I have no problem with KBB giving a buyer a price range they should expect to pay for a vehicle. I do have a problem with KBB telling a customer what their trade should be worth. I've never been able to get KBB to write a check for one of these trade ins that they put a value on
On KBB
Posted on 8/7/14 at 1:07 pm to Woodford Reserve
I could have easily, but because she was a referral of a good friend, so I stayed and did whatever I had to do to get her in the escape. Plus I have an appointment for the rouge on friday lol.
Posted on 8/7/14 at 1:14 pm to Woodford Reserve
Work your pay plan. It sounds so simple but it isn't, learn that fricker and exploit every single bonus you can because it is not easy to make a living selling cars right now
Posted on 8/7/14 at 1:15 pm to Rolltide10
quote:
KBB is a guide. Nothing more nothing less. I have no problem with KBB giving a buyer a price range they should expect to pay for a vehicle
I guess my question is, if CarMax pricing falls in line with what KBB says one should expect to pay, can it really be considered "paying a premium"?
Posted on 8/7/14 at 1:18 pm to LSUfan4444
KBB is about as rough a market sample that I can think of. Of course it's damn near impossible to keep up with vehicle values nowadays since the market is constantly fluctuating. I'd be more inclined to do real time market research and see what the cars are selling for at other dealers. The toughest part in doing that is getting a real "apples to apples" car to compare with unless you're looking at near new cars i.e. Last 2 MY's or so
Posted on 8/7/14 at 1:22 pm to alajones
the only way you make more money on a finance is if you company is financing it. if they are then you dont make money on those that default...that's the risk someone paying cash can help yuo avoid. of course you dont give a shite about that becasue it isn't your money all you care about is the sale, but you can bet your arse if it was you money and you had the option of 10k today or 13k over 5 years, you'd probably take the 10k today to save the chance that you never get paid back...its finance you dumbass
Posted on 8/7/14 at 1:27 pm to LNCHBOX
quote:
I find it strange you complain about being able to pay less than the manufacturer suggests a good should cost.
That's pretty fricking convenient.
Posted on 8/7/14 at 1:28 pm to alajones
I don't think I'm getting a better deal by paying cash. I want the experience over as quickly as possible. The less time I have to spend talking to a car salesmen, the better I feel about life. And paying cash for vehicles encourages me to keep them for a while, which also reduces the amount of time I have to spend around them.
Posted on 8/7/14 at 1:33 pm to DrinkDrankDrunk
We have ford motor credit, which 4 out of 10 peoplr who finance use it. Ford gets the interest and shoots the dealer a bonus.
I make a great honest living with my job and I love doing it and the hours.
I make a great honest living with my job and I love doing it and the hours.
Posted on 8/7/14 at 1:40 pm to Woodford Reserve
Thats always the worse part I think for a customer. Thinking your car is worth 10k when its worth 6k because its not in excellent condition and youve put another 1000 miles on iy. Also the disappearing payoff always cracks me up.
Posted on 8/7/14 at 1:43 pm to Woodford Reserve
I made a shitload of money selling cars, even more managing the poor souls doing it and even more than that in the F&I office. I hated all of it because of the hours, it took my life away
This post was edited on 8/7/14 at 1:52 pm
Posted on 8/7/14 at 1:47 pm to seeLSUrun
quote:
Depends, minimum $75-$100 and the sky is the limit from there
OK, I get that, but you know what I;m talking about.
Say an 800 that finances 30K for 48 months.
Or a 700 that does 40K for 60.
Posted on 8/7/14 at 1:51 pm to N2cars
quote:
Say an 800 that finances 30K for 48 months. Or a 700 that does 40K for 60.
National average is roughly $1000 per retail deal, not financed, so that's lumping in the cash deal that no reserve (interest, usually a 75/25 split of the markup over the buy rate) is earned on along with the fat finance deals
Basically, if you financed with me I expected to make an additonal $1200-$1500 minimum. The most I ever made on one deal in finance was $9998 (the $2 still pisses me off)
This post was edited on 8/7/14 at 1:52 pm
Posted on 8/7/14 at 1:54 pm to seeLSUrun
quote:I'm still in it. I've held just about every position you can have on the retail side of it. I'm tired of it now. Working every Saturday sucks. Long hours during the week...it's hard!! The money is good but you give up so much
it took my life away
Posted on 8/7/14 at 1:54 pm to seeLSUrun
Are the finance companies looking into putting in place an early payoff penalty?
I bought a new truck, financed with Ford Motor Credit, made first payment, then mailed them a check for the balance from my credit union.
I get $1,500 rebate for financing with Ford, they get 30 days worth of interest.
I bought a new truck, financed with Ford Motor Credit, made first payment, then mailed them a check for the balance from my credit union.
I get $1,500 rebate for financing with Ford, they get 30 days worth of interest.
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