Wanna know all about Car Sales?
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for those of you asking about resell value for your car, my best resource is cars.com - a car is only worth what someone else is willing to pay for it. basically, if you have a 3-yr old car with 50k miles and notice that the top price for that car on cars.com is only $20k, don't expect to get more than $17 for it. keep in mind that when dealerships offer to buy your car, they're not doing it in order to re-sell that car for the same price or lower, they are trying to make money on it. so figure they'll offer no more than 90% of the going rate.
in terms of financing, every person & store is different. don't settle for anything that you are not comfortable paying. run the numbers yourself (cars.com has tools for that too).
of course they are going to try to gouge your eyes out on financing - keep a rate in mind, and don't accept the deal until they meet your criteria. remember, there are plenty of other cars out there.
my personal trick is to get a 5-year loan, but pay off the car in 3 years - that way, you pay less in interest - so make sure that you can handle the payments for a 3-year loan before agreeing to a 5-year loan.
in terms of financing, every person & store is different. don't settle for anything that you are not comfortable paying. run the numbers yourself (cars.com has tools for that too).
of course they are going to try to gouge your eyes out on financing - keep a rate in mind, and don't accept the deal until they meet your criteria. remember, there are plenty of other cars out there.
my personal trick is to get a 5-year loan, but pay off the car in 3 years - that way, you pay less in interest - so make sure that you can handle the payments for a 3-year loan before agreeing to a 5-year loan.
So... did you just quit outright, or did you already secure a new job first?
Just to kind of defend the salesmen when talking about upgraded multi million dollar dealerships.
I don't think salesmen actually know the bottom number the dealership actually pays for new cars. Why would the owner/GM share that with them? His profits are irrelevant to them.
The dealership owner will always profit on cars.
I don't think salesmen actually know the bottom number the dealership actually pays for new cars. Why would the owner/GM share that with them? His profits are irrelevant to them.
The dealership owner will always profit on cars.
Last edited by RYs06MT; Jul 31, 2013 at 06:20 AM.
Thread Starter
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From: Melbourne Florida
Look those were some long posts I made I dunno about you guys but I dont spend hrs online and I kind of enjoy replying but im not gonna take extra time out to make it pretty, get over it. I thought we are talking about cars not grammar or post structure. Anyways Im gonna make one more response on this thread about Doc Fees and im tired so im gonna make it brief. The Doc Fee is just a buffer that is pretty much just there to ensure that the owner makes the profits he desires. At my dealer it was $699 to be exact $698.50 sure you could discount that out if they give you a $1,000 off but they are gonna keep that doc fee in the equation so to offset that discount. Also we had a $1,299 addendum on new cars. (Wheel locks, Nitro filled tires and Wax and 3m Scotch guard on interrior. This is used in the same way as the Doc Fee, so if you get shown a $2,000 discount your pretty much buying that car at sticker price and im not saying thats a bad deal because its retail you should walk in an expect to pay the price of the car. On another subject the Q-50s came in and will begin being sold at my former dealer on monday. Im gonna make another post in the sedan forum and post a picture or 2 my friend sent me. This will be my last post on this one, I think lol 
I've got a question for anybody that wants to answer.
What is the best way to get the best price on a used car?
Say the car is listed for 24,999. How much wiggle room is built into this price?
I check all the big sites and see what the TMV is but when it's time to sit down at the dealer all bets are off. Also the salesman gives you a price and then the finance guy adds all the BS fees. What is the best way to deal with this? Also what is the quickest way in and out of the dealer?
What is the best way to get the best price on a used car?
Say the car is listed for 24,999. How much wiggle room is built into this price?
I check all the big sites and see what the TMV is but when it's time to sit down at the dealer all bets are off. Also the salesman gives you a price and then the finance guy adds all the BS fees. What is the best way to deal with this? Also what is the quickest way in and out of the dealer?
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Jack
On a used car, I would guess that the mark up is at least 15% or more. On a $25k car the dealer should be able to sell it to you for $22,500 which is 10% off. That should not be your 1st offer though. I would start at $20k.
On a used car, I would guess that the mark up is at least 15% or more. On a $25k car the dealer should be able to sell it to you for $22,500 which is 10% off. That should not be your 1st offer though. I would start at $20k.
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Im gonna try and give somewhat brief clear useful answers to each of you because there is so much involved in every car deal and some of the details can be very exstensive.
@Gooniej12- for the first part of you question the do's and do nots... Car salesman get paid according to the gross profit on each car they sell at the dealership, where I worked we had a nice pay plan where the salesman earned 25% of front end gross. So for example I had a old friend more like a acquaintance come see me at Infiniti to trade in his camaro for a Used Lincoln MKZ we had, nothing is better for a car salesman than selling used cars this is where you make your money and its half the work of selling new cars. On this particular deal my client didnt engage in any type of negotiations on either the price of the vehicle or the price of his trade in. So he pretty much let us tee him up to make some money since we are a business and we rely on profits to make a nice living and stay in business, I grossed somewhere around $5,000 profit for the dealer and I was paid a commission on $1,250 for that day and probably like an hour worth of real work. Keep in mind these type of deals are few and far between. So as far as big dos and do nots if your going to the dealer be familiar with pricing and your budget. If you are going to go in and look for used cars check the dealers website before hand to see the prices on his used cars and write down prices to the cars you are interested and bring that information with you. Dealers have a (Lot Price/Window sticker) and they have a (Internet price) on each preowned vehicle on the lot. The internet price is always there lowest price and thats the deal you want. The lot price usually is the internet price + anywhere from $2,000-6,000 more. So if you go in and have a used Infiniti your looking at and you have the internet price in hand on that vehicle you want and you tell the salesman you saw this on there website for X$ they cant high gross you as easily with the window price. If your buying a new car you can be much more intent on recieving a nice discount, the dealers have to reach certain quotas on new cars and my best advice on buying new is do not lay down and sign off first pencil make them work really hard to earn your business check out other dealers and compare. Tell them your gonna think about it and compare to other models they will often quickly start to expand that discount to earn your business on a new car that day. That business lives and dies by each day, they dont care to hear you say im gonna come back tommorrow because that is never a sure thing.
@Gooniej12- for the first part of you question the do's and do nots... Car salesman get paid according to the gross profit on each car they sell at the dealership, where I worked we had a nice pay plan where the salesman earned 25% of front end gross. So for example I had a old friend more like a acquaintance come see me at Infiniti to trade in his camaro for a Used Lincoln MKZ we had, nothing is better for a car salesman than selling used cars this is where you make your money and its half the work of selling new cars. On this particular deal my client didnt engage in any type of negotiations on either the price of the vehicle or the price of his trade in. So he pretty much let us tee him up to make some money since we are a business and we rely on profits to make a nice living and stay in business, I grossed somewhere around $5,000 profit for the dealer and I was paid a commission on $1,250 for that day and probably like an hour worth of real work. Keep in mind these type of deals are few and far between. So as far as big dos and do nots if your going to the dealer be familiar with pricing and your budget. If you are going to go in and look for used cars check the dealers website before hand to see the prices on his used cars and write down prices to the cars you are interested and bring that information with you. Dealers have a (Lot Price/Window sticker) and they have a (Internet price) on each preowned vehicle on the lot. The internet price is always there lowest price and thats the deal you want. The lot price usually is the internet price + anywhere from $2,000-6,000 more. So if you go in and have a used Infiniti your looking at and you have the internet price in hand on that vehicle you want and you tell the salesman you saw this on there website for X$ they cant high gross you as easily with the window price. If your buying a new car you can be much more intent on recieving a nice discount, the dealers have to reach certain quotas on new cars and my best advice on buying new is do not lay down and sign off first pencil make them work really hard to earn your business check out other dealers and compare. Tell them your gonna think about it and compare to other models they will often quickly start to expand that discount to earn your business on a new car that day. That business lives and dies by each day, they dont care to hear you say im gonna come back tommorrow because that is never a sure thing.
JustinInfMelb,
So this so called "Internet Price"
Is that a set (advertise) price or can a car buyer haggle that price down too?
Thanks
I think JustinInfMelb is not posting in this thread anymore. It was too much work for him. 
Maybe some other salesman will chime in.
Thanks lacarnut. I always figure a used car priced at a dealer is got at least a 2-3k wiggle room.
Maybe some other salesman will chime in.
Thanks lacarnut. I always figure a used car priced at a dealer is got at least a 2-3k wiggle room.
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Guys, if you don't work in the business or have worked in it, what I am about to tell you won't make sense and you will take it as a rant.
Gone are the days where a reputable dealership has $4000-$5000 dollars worth of mark up on a used car. Most people reach out to a dealership because of the price they see first before they even see the car. Not always, but most.
Most common thing that is asked is what is your best price. Well why should I give you the best price if you haven't even seen the car in person, knowing very well my best price is not your price that you want to pay. However, you called me because I was the cheapest out of the 3 Gs that you saw with similar specs, miles and equipment.
You guys can believe the books all you want but why don't you go sell your car or buy a car from NADA, Edmunds, KBB, or Blackbook. Oh that's right you can't because they don't sell cars. They suggest prices but don't account for the 30 2010 G37s that are within a 50 mile radius. They don't account for the fact that people with access to the largest auto auction In The world can buy the same car for $5000 less because in the last 90 days 50 2010 G37s were sold through that auction for far less than the highest book because supply and demand is low.
Not saying believe the dealer but if they are a reputable dealer, and you go a couple rounds in negotiation and they don't get to your magical number that us $5000 off the internet priced, maybe you need to get off that number or get your thinking up. Also, if the sales rep is help full, answers all of your questions and does a good job of demonstrating the vehicle, they deserve to make a buck or too. Don't come in acting like a **** and expect us to bend over back wards to get a good deal. I don't go to your place of employment or business and haggle you beyond reason for a service or product.
But since I seem to be the only active sales rep, feel free to ask away and I will tell you what I can.
Gone are the days where a reputable dealership has $4000-$5000 dollars worth of mark up on a used car. Most people reach out to a dealership because of the price they see first before they even see the car. Not always, but most.
Most common thing that is asked is what is your best price. Well why should I give you the best price if you haven't even seen the car in person, knowing very well my best price is not your price that you want to pay. However, you called me because I was the cheapest out of the 3 Gs that you saw with similar specs, miles and equipment.
You guys can believe the books all you want but why don't you go sell your car or buy a car from NADA, Edmunds, KBB, or Blackbook. Oh that's right you can't because they don't sell cars. They suggest prices but don't account for the 30 2010 G37s that are within a 50 mile radius. They don't account for the fact that people with access to the largest auto auction In The world can buy the same car for $5000 less because in the last 90 days 50 2010 G37s were sold through that auction for far less than the highest book because supply and demand is low.
Not saying believe the dealer but if they are a reputable dealer, and you go a couple rounds in negotiation and they don't get to your magical number that us $5000 off the internet priced, maybe you need to get off that number or get your thinking up. Also, if the sales rep is help full, answers all of your questions and does a good job of demonstrating the vehicle, they deserve to make a buck or too. Don't come in acting like a **** and expect us to bend over back wards to get a good deal. I don't go to your place of employment or business and haggle you beyond reason for a service or product.
But since I seem to be the only active sales rep, feel free to ask away and I will tell you what I can.
Thanks eljoker. I am just wonder how to get the best price. I understand that the salesman needs to make a living. I just don't want to over pay. And I would pay more for a vehicle in better condition with warranty than one without. I am in South Florida and I see 2010 G's going as low as 20k with clean titles. The mileage is higher than I want so I keep looking.
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From: NJ
Sorry guys I read through this and had to reply. I am not and have never been a car salesman.
However, as a buyer, the one thing I hate is a car salesman many times pushes you to a used car trying to say it is cheaper and will save you money. I was interested in a used car once and the saleman asked me for an offer. I gave it to him and he stated what is the basis for my offer. At this point I am thinking WTF. I tell him that is my offer, what are you expecting me to pay for it? He shows me the sticker price. At that point i told him you are asking the same amount as a new car for a used 1 year old car. For that price I add on $300 and can get a brand new one. Also work in the doc/dealer fees and it might come out cheaper.
He was a bit in shock and kept on referring to the used car but didnt get within my price range. I ended going to another dealer and got the new car for his asking price of the used one. The second dealer charged $300 for doc/dealer fees while the first one wanted $750. Weird huh?!?!....
However, as a buyer, the one thing I hate is a car salesman many times pushes you to a used car trying to say it is cheaper and will save you money. I was interested in a used car once and the saleman asked me for an offer. I gave it to him and he stated what is the basis for my offer. At this point I am thinking WTF. I tell him that is my offer, what are you expecting me to pay for it? He shows me the sticker price. At that point i told him you are asking the same amount as a new car for a used 1 year old car. For that price I add on $300 and can get a brand new one. Also work in the doc/dealer fees and it might come out cheaper.
He was a bit in shock and kept on referring to the used car but didnt get within my price range. I ended going to another dealer and got the new car for his asking price of the used one. The second dealer charged $300 for doc/dealer fees while the first one wanted $750. Weird huh?!?!....
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Sorry guys I read through this and had to reply. I am not and have never been a car salesman.
However, as a buyer, the one thing I hate is a car salesman many times pushes you to a used car trying to say it is cheaper and will save you money. I was interested in a used car once and the saleman asked me for an offer. I gave it to him and he stated what is the basis for my offer. At this point I am thinking WTF. I tell him that is my offer, what are you expecting me to pay for it? He shows me the sticker price. At that point i told him you are asking the same amount as a new car for a used 1 year old car. For that price I add on $300 and can get a brand new one. Also work in the doc/dealer fees and it might come out cheaper.
He was a bit in shock and kept on referring to the used car but didnt get within my price range. I ended going to another dealer and got the new car for his asking price of the used one. The second dealer charged $300 for doc/dealer fees while the first one wanted $750. Weird huh?!?!....
However, as a buyer, the one thing I hate is a car salesman many times pushes you to a used car trying to say it is cheaper and will save you money. I was interested in a used car once and the saleman asked me for an offer. I gave it to him and he stated what is the basis for my offer. At this point I am thinking WTF. I tell him that is my offer, what are you expecting me to pay for it? He shows me the sticker price. At that point i told him you are asking the same amount as a new car for a used 1 year old car. For that price I add on $300 and can get a brand new one. Also work in the doc/dealer fees and it might come out cheaper.
He was a bit in shock and kept on referring to the used car but didnt get within my price range. I ended going to another dealer and got the new car for his asking price of the used one. The second dealer charged $300 for doc/dealer fees while the first one wanted $750. Weird huh?!?!....
Docs fees are different from dealer to dealer or dealer group to dealer group.
