Cashless Society

Lucky Luke said:
lol
OO and diddling the manufacturer. Claiming a dealer rebate for a test vehicle but not actually using it as one and selling it as a new car. Couldn't do that very often but damn it made for a nice margin.
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Oh yeah man.. we found all the loopholes we could. Still one of the most crooked businesses out there. Especially these days with the chip shortage that made the market go nuts. Dealerships charging $10,000 over sticker, Used car market followed the trend. I still talk to some of my old guys, and they said that some salespeople during the hight of all of this were making $25K -$30K a month. Now,... this bubble is going to pop, and there's going to be (already seeing it) repo profiles go through the roof. They're gonna have a firm grip on that car/truck for a while. They better go wash it, and fall in love with it again because they won't be able to trade for a long time because they are buried.
 
DoubleAtotheRON said:
Oh yeah man.. we found all the loopholes we could. Still one of the most crooked businesses out there. Especially these days with the chip shortage that made the market go nuts. Dealerships charging $10,000 over sticker, Used car market followed the trend. I still talk to some of my old guys, and they said that some salespeople during the hight of all of this were making $25K -$30K a month. Now,... this bubble is going to pop, and there's going to be (already seeing it) repo profiles go through the roof. They're gonna have a firm grip on that car/truck for a while. They better go wash it, and fall in love with it again because they won't be able to trade for a long time because they are buried.
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The general public are just stupid.
 
mooray said:
I'll take dumb and naive over malicious every time. They are usually much better people.
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Its just marketing. People don't realize that when they step on a lot everything is orchestrated and often scripted- word for word. Its an industry, like Real-estate where lots of money is spent fine tuning for larger profit margins. Even more so than real estate, real estate actually uses the Car industry tactics. Just like a McDonalds worker is told to say "would you like fries with that?"

Trial closing is also an art and there are so many ways to just keep trying to trial close.

eg you can trial close straight up " Welcome to pops new cars, Can i sell you a car today?" Or way towards the end "If we can come up with a change over figure your happy with will you be happy to leave a deposit today?"
 
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Lucky Luke said:
Its just marketing. People don't realize that when they step on a lot everything is orchestrated and often scripted- word for word. Its an industry, like Real-estate where lots of money is spent fine tuning for larger profit margins. Just like a McDonalds worker is told to say "would you like fries with that?"

Trial closing is also an art and there are so many ways to just keep trying to trial close.
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Ask only "close ended" questions.. and drill down!
 
Customer- Im just looking
Bill- Great!, are you looking for a car or truck?
Customer - a truck
Bill- Awesome!.. are you looking for something basic, or a little nicer?
Just take them by the small of the back and lead them to a sale.
 
I was a total dick back in the day as a salesman if a customer had thier guard way up. This one guy comes in and I approached. "Welcome to XXX, my name is Aaron, and you are?"..... "Doesn't matter".... "Ok Doesn't Matter, what are we looking for today? A car or truck?"... I called him Doesn't Matter till he got pissed and left.
 
DoubleAtotheRON said:
Customer- Im just looking
Bill- Great!, are you looking for a car or truck?
Customer - a truck
Bill- Awesome!.. are you looking for something basic, or a little nicer?
Just take them by the small of the back and lead them to a sale.
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or just start walking towards what you want to show them, they follow like lambs to the slaughter.

I do miss the trade a bit. Wont be going back anytime soon.
 
Lucky Luke said:
or just start walking towards what you want to show them, they follow like lambs to the slaughter.

I do miss the trade a bit. Wont be going back anytime soon.
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Yes.. I taught that technique to green peas. I'd tell them to just say "Come on in, I have an idea"..and just start walking and talking. They would be amazed that this works.... human behavior. You have to learn it in sales.
 
DoubleAtotheRON said:
I was a total dick back in the day as a salesman if a customer had thier guard way up. This one guy comes in and I approached. "Welcome to XXX, my name is Aaron, and you are?"..... "Doesn't matter".... "Ok Doesn't Matter, what are we looking for today? A car or truck?"... I called him Doesn't Matter till he got pissed and left.
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haha! yea its good fun to burn a customer every now and again, especially first up.
 
Lucky Luke said:
haha! yea its good fun to burn a customer every now and again, especially first up.
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I still go up the Dealership when I need an oil change on my F150, and watch these guys just staring at thier phones, trapped in that glass box. They ask how I've been and I tell them "Oh, same old, same old. Just got up at noon, may take a nap later, IDK" Hehehe... I don't miss it much myself.
 
DoubleAtotheRON said:
I still go up the Dealership when I need an oil change on my F150, and watch these guys just staring at thier phones, trapped in that glass box. They ask how I've been and I tell them "Oh, same old, same old. Just got up at noon, may take a nap later, IDK" Hehehe... I don't miss it much myself.
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I like messing with them when im car shopping. They dont know that I know what they are trying to do.

Greet them before they greet me "G'day I'm Bob do you work here?"
They start walking off to take control and have me follow so ill turn around and walk in the opposite direction.
They will open the drivers door and step back to lead me to sit and i'll go and look at the rear of the car. Stuff like that- You can see the confusion.
 
Vehicle buying tip for punters. Always say you want Dealer finance. You can negotiate a much better deal due to the dealer kickbacks. Then pay cash/bank transfer.
 
DoubleAtotheRON said:
Shit... we'd sell GAP Protection to people with 50% equity.
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That's not allowed in many states - LTV needs to be above 80%. You're lucky the state AG or DOI didn't catch wind (or the CFPB)... or a savvy attorney.

The industry is in such an unprecedented position - never before would a used car sell for over MSRP, and then further appreciate $2-4k over the next few months. I'm now seeing loan contacts on 20+ year old vehicles... 84 month loan on a 20-year-old vehicle... fucking insane.

The only reason more parallels are not drawn between the 08 housing crises and the auto loan industry is that rolling-over negative equity into a new loan multiple times is much more under the radar than a foreclosure or short-sell (as is power-booking, or selling unnecessary add); vehicle prices, loan terms, payment amounts - all at all-time highs, and people are still lining-up to buy.
 
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