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Coordinating Dealer Trades
I’m very new to sales so bear with me. A customer came in wanting a relatively specific spec on a 2020 GMC Sierra 2500. As you might guess, our inventory is limited and we don’t have what he wants in stock. My GSM printed off a few build sheets of trucks at other stores in other states and the customer wanted one. We took a refundable deposit for it. The manager who orders inventory and coordinates dealer trades is working on contacting that dealership, however they seem to be ducking us. And this is after a few days of the inventory manager not knowing about the arrangement at all until I asked about it because the GSM just laid it on his desk when he was out. The customer is understandably upset and is beginning to search for a truck on his own. Is there anything I can do as the salesperson to expedite the process? I’ve already found quite a few options from a quick search on Autotrader of trucks that my customer would likely be interested in. I really want to help this guy out and I feel awful because it feels like we’re dropping the ball. Any and all advice, criticism, suggestions, and help is welcome.
Rav4 vs 4Runner vs Tacoma (2009-2012) Plan to resell in 2 years max
Hi All, EDIT: Added some subies to the list, the legacy looks like the best deal I am looking for something that I can drive until I can upgrade to a Rav 4 Prime in 1-2years. I do a lot of backcountry skiing in the winter, and lots of cycling in the summefall. Because of this I want something that can transport 4 adults with skis (ill buy a roof rack) and in the summer 2 adults with bikes (preferably hitch mounted) or bed if I go with a truck. I do live in the city and drive in the city, park on street frequently, which Is why I'm looking at rav4 as well as bigger vehicles. I am mostly interested in what will lose the most value over the next 1-2 years so I can upgrade to the rav4 prime, I've narrowed it down to a few options.
Looking to buy a 2020 Explorer XLT in South Carolina
My wife and I have been discussing me trading in my 2017 Jetta for a new Explorer, and when I look at Autotrader I see them for as little as $29k (almost $9k off MSRP) but they're 100 miles away. When I went through TrueCar a few minutes ago I was offered deals from several local dealers, but none of them were within spitting distance of $29k ($33-$34k). I e-mailed the dealer that is A) really close to my house and B) had the lowest offer via TrueCar, asking if they could get closer to the $29k I am seeing in Greenville. I am slightly upside down in the VW but I will probably sell my older Ford F150 if I can get a good deal on the Explorer since the Explorer would be able to do almost everything I use my truck for. Last year my wife bought a new Lexus, and I was SHOCKED at how negotiable everything was... they came way down on price and way up in trade value... way further than I would have thought, and we ended up with an amazing deal. I can only assume that they had to hit some sales # by the end of the year for a big bonus. I don't want to wait until December for the Explorer, but I do want to get an amazing deal.
Should I get trade-in appraisals from multiple dealers
Hey all, I am based in Canada (GTA). Long time lurker. I just had a kid and unfortunately the infant car seat barely fits in the back of my 2018 Tacoma. So I've been shopping around for a luxury SUV and have my eyes set on a 2017 RX 350 F3 priced at CAD 45000. I bought my truck brand new in 2018 at full MSRP of 55k. I went in to the dealer last weekend and test drove the Lexus and loved it. They took the truck in for appraisal while I was doing my test drive and told me that they'll get back to me in a couple of days with the value. Fast-forward a week (sales rep got sick and had to take 3 days off), I get a call from my salesperson and he quotes me CAD 33k for my truck. I feel like this is way too low given my truck: Make: Toyota Model: Tacoma Year: 2018 Trim: TRD Pro Mileage: 24688 kms Private sales and dealer listings for my trucks very similar to mine are going for CAD45-50k. I understand that I won’t get retail for a trade in but almost $10k under retail? I did an online trade-in value appraiser on Autotrader and a local Volvo dealership gave me an online price of CAD40k. So my question is, should I shop my truck around at other Lexus/Acura/Volvo dealerships to see if they'll drastically improve the trade-in value? Or are they generally about the same everywhere? Also, my salesperson said, they can use TradeRev (?) to internally auction my truck and if it sells for more than CAD33k, the dealership will pay me the difference. I have never heard of this. This is my first time trading in a vehicle and only my second time buying a vehicle ever. I feel super inexperienced and need some guidance. Thanks! If it helps, I'm looking at a 2019 RDX, 2018+ Volvo V60, 2017+ RX350
I recently sold a vehicle to Carvana and wanted to share the details of my experience for those considering this option. I was looking to trade or sell my 2017 Fusion Energi Titanium. KBB trade in value was $14900-16500, Private Party Sale ranged from $17000-19000. The car had 34k miles on it and had original tires on their last few thousand miles, otherwise, had every feature available and was mechanically and cosmetically excellent. I got offers from 3 services:
Carmax - $15000
Vroom - $16000
Carvana - $17179
I was going to list the car on AutotradeCraigslist for $18000 and would have negotiated down due to needing tires to $17500. I figured to get it done asap without the headache of dealing with an individual buyer, it was worth a few hundred $$$. I accepted the Carvana offer on 8/2 and uploaded a photo of my ID, payoff statement from my bank, and photo of the odometer. Carvana sent several reminders to accept and re-upload, which prompted me to call customer support and see if they received everything. The website doesn't acknowledge you uploaded docs and lets you re-upload again and again. Customer support said they had everything and would let me know next steps in 72 business hours. I got a text and email yesterday (8/7) with a link to schedule my appointment for pickup. There was an appointment available the next day at noon, so I took that option. Driver called today (8/8) at 11:30am, advising he would arrive between 12 and 12:10. He showed up right at 12:10 and did the following:
Visually inspected the car (walk around, sat in driver seat, turned the car on...validated the options I listed were on the car)
Drove the car around the block in my neighborhood (3 minutes, maybe)
Loaded the car onto the flatbed Carvana truck
Came back to the door, reviewed the paperwork with me. I signed 7-8 documents.
He gave me a Bill of Sale, which he signed
Then he handed me a pre-printed business check for the difference between their offer price and what I owed on the loan
The entire process lasted 15 minutes and could not have gone smoother or easier. I realize this isn't for everyone and that you can get more $$$ selling privately, or get the tax savings trading the car in on a new vehicle. In my situation, I valued the convenience and guaranteed option far greater than getting my max possible price. Considering their offer was within a few hundred $$$ of what I was willing to accept from a private sale, this was a very easy, convenient, and risk-free option in my mind. I would strongly suggest getting a quote from them if you're looking to sell/trade a vehicle.
Im a idiot when it comes to cars. Could use some advice on what to buy
So as the title states, I've never been much of a car guy. I've driven two cars in the last 15 years, a 91 ranger and my current 2004 Focus. The Focus was a hand me down. I've gone nearly 12 years with the same car and I've only put about 50k miles on it. I don't do a lot of driving but the car is in terrible shape. Damage to the body, no air bags, brakes are starting to go out, tires need to be replaced, heat stopped working. I stopped taking care of the car and it's starting to show. Will probably just give it back to my parents so my dad has something to work on because I doubt I'd see much from a trade in. With that being said, I'm torn on what to do next. I was really hoping to upgrade to something a little more modern, something that can hold up for the long term as long as I take better care of it than my previous car. I'm not a big fan of leasing so I've tried to write that option off. I was looking into financing something up to around 10-13k with around 2-4k down. My goal is to keep my car payments and insurance rates combined below 400 a month. I live around the Detroit area, so I get screwed on my insurance rates. I've never had to personally deal with a dealership so I'm not entirely sure what to expect. I've priced out a few options through sites like autotrader and looked up insurance quotes for the cars I'm interested in, and this is what I've come up with based around dealers within 25 miles of my area. Wants: 2014+ Fusion(189 a month for insurance) 2012+ Civic(160 a month for insurance) 2014+ Impala (171 a month for insurance) All of the ones I've looked in to average around 30k-60k miles, and the cost of financing, taxes, etc would put me right around my 400 a month limit with less than 2k down. Affordable: 2013+ Escape (129 a month for insurance) 2012+ Equinox(131 a month for insurance) Again, these are all around the 30k-60k mileage range. The total monthly cost would put me below 350 a month with less than 2k down. High Mileage: 2004+ Pick Up. Haven't really checked too many quotes for trucks. A decent pick up has always been a strong want for me because I do manual labor for a living and wouldn't mind a decent work truck, but again I'd prefer something a bit more modern, and a modern truck with high miles is still out of my price range. 2013 Edge (131 a month) I've always liked the Edge but they're generally out of my price range. I found one with 90k miles on it listed for 13,500 with a strong maintenance record. 2010+ Subaru: Almost all of the Subaru's in my price range are over 100k miles. The only ones I've been able to find that are below 75k tend to come with rebuilt titles. I haven't really looked too much into this but I like the AWD and have had these cars recommended to me by plenty of people if I want something that will last. A few of the other cars that I liked I've been advised to generally avoid. That includes a more modern Focus or anything from Chrysler. I've been told by others to look into a decent Jeep, but I have yet to find one that I really like. I'm not huge fan of SUVs outside of feeling a bit safer inside of one. I plan on making monthly payments on my insurance until my term is up, and then I'll go back to 2 payments a year. I have excellent credit with very little debt. My rent only accounts for 25% of my monthly income but I'm dedicating another portion of my savings towards a down payment on a home in the next few years. I'm trying to keep car payments below 200 a month and don't have too many issues with taking a 72 month loan for something that could last a while. I've had a lot of people tell me to just take the money I've set aside for a down payment(up to 4k) and just buy an older beater car with cash, but I'd rather have something more modern that will last the next 10-15 years. If none of this makes sense I understand. I'm not the best with personal finance and this is my first real attempt at car shopping. Any advice would be welcome.
Inventory Management Implications For Automotive Digital Retail Strategies
img For most of the history of retail, the physical market structure drove sales volume. Top retailers were easy to identify by the number of locations and the retail was managed largely at the store level. Inventory selection was important over time, but not readily visible. “Location, location, location” was the rallying cry. Proximity to major traffic generators for the intended audience, like public transit lines for coffee shops, ruled the day. Amazon upended that model. The number of searchable records for individual products became the retail currency for dominance online. Today, market structure online is arguably more important than physical locations. Where physical intersections of traffic used to determine where inventory was placed, now virtual inventory pools direct where the traffic is concentrated online. The power of pooling inventory is extraordinary. When finishing my master’s degree, my capstone project was modeling cost and order-fill efficiency of inventory sharing across a fictional multilocation retailer. The math is simple. The larger the inventory pool, the more items available to fill any given order, and the lower the out-of-stocks. Sharing virtual inventory changes fill rates dramatically, which is the fundamental currency of retail. The retailer has the item the customer wants to buy and the dance of the transaction can begin. Amazon demonstrated this brutally with its initial A-to-Z focus on a singular large inventory pool of books versus competitors that operated primarily from their local stores’ inventory. The largest singular pool will always dominate. Location, location, location still exists, but that location is now the top of the search engine results page (SERP). As senior vice president of marketing for an automotive digital retailing and inventory management company, I’ve found that the market for new cars functions similarly to any other retail channel with marketing around the universal product code (UPC) level and the most relevant product-level page ruling the day. Used cars, however, are each completely unique and shoppers are making comparisons between specific cars, trucks or SUVs. The vehicle description page needs to accurately describe the attributes at the vehicle identification number (VIN) level. The complexity is worth managing well because each record’s value is high. The task is urgent because the decision window is limited. The record is perishable, and competition is great. The customer journey in automotive typically begins with browsing options around body type. In general, car shoppers begin their search at a nondealer-affiliated site to browse broad options. There is an ever-changing list of top sites for browsing based on traffic, and that order is not immutable. Each of these companies has a different hold on their position. CarGurus popped to prominence relatively recently, likely due to its strong user experience and email strategy; Cars.com has a great URL and newspaper roots that bring relevant authoritative links to the site. Edmunds and Kelley Blue Book have distributed functionality on dealer websites that bring with them highly relevant links and a portfolio of traffic distributed across sites. CarMax and Carvana participate throughout the customer buying journey, from browsing behavior through purchase, and have singular brands that give them an edge over traditional dealer groups. So, what can and should automotive dealers be doing to move up in the SERP?
Pool inventory. Retailers with more than one location should be pooling their inventory across locations if they are not already. Dealers with strong regional bases have the most to gain by cross-promoting their own inventory aggressively onsite, in the store and through email, search and social. Ultimately, the automotive outlet with the right product inventory will win if they are leveraging it well.
Manage inventory with the location in mind. Dealers’ strategy to win has to begin with better inventory management within each location to support the best local search results. By knowing their community and sales history better than anyone, selecting the right vehicles and merchandising them immediately online, they can win that crucial first search in their area.
Unify the brand. Marketing is cheaper when displaying full inventory under a single recognizable brand and domain. I’m seeing many large dealer groups starting to assert this potential with strong group sites.
Improve your vehicle description page (VDP). Make sure that all the details important to your buyer are transparent from your VIN-level product pages. Visuals should be considered first and foremost. They need to be specific to that car and show all the key features and many of the not-so-key, but interesting ones. Descriptions should include all model information, packages and relevant equipment.
Define your ideal record. This includes the key text information, proper categorization for search and the number of photos. Track and relentlessly improve your speed to market with that search and user experience winning record.
Optimize local search options. Utilize the local search features while they are still free. The local search pack was intended to benefit the local retailer -- dealerships should be taking full advantage.
Make it easy for Google. In a recent presentation by Ben Gomes, senior vice president of Search, shared the company’s efforts to reduce friction in search. Help them help you by using structured data markup where possible to make your vehicle description pages and site easily crawlable.
Price right. Understand your market better than anyone so your pricing is consistently fair and in the hunt. Support your pricing with third-party sources and transparent market data.
Third-party sites like Cars.com, CarGurus and Autotrader have the most to lose as large dealership groups assert the power of their inventory and focus on growing the best experience on their own sites. The humble used car record is uniquely suited to driving differentiation in the competition for a local audience. Dealers that leverage their location and unique collection of relevant inventory records, and communicate a powerful brand promise, will own their local trading areas in search. I believe earning access to those motivated search buyers locally is key to the long-term success of dealerships in the rapidly transforming automotive market. Forbes Communications Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify? img
How much should I expect a competing dealer to beat a current offer on my trade in? Also UPDATE to earlier post about buying the wrong car.
This is sort of an update... Here's a link to the original post Quick recap: I bought a 2019 Honda Accord Sport 1.5 in January for $25,800. It's a great car, but just not right for me. It's still in perfect condition with 2,500 on the odometer. I've been looking into my options for getting a 2019 Nissan Frontier SV 4x4 with a Value Truck Package. First I took the car to CarMax. They offered me $21,000 for it. KBB lists the trade-in for a 2018 (no 2019 option yet) as $21,451. I then went to a local Lincoln dealership that had a used truck I thought I might like. The truck didn't work out, but they offered me $22,000 for the trade of the Accord. I've tried several times to get in touch with my original salesman at the Honda dealership about either buying back the car or helping me to find a Frontier (he's part of a larger dealership that also sells Nissan, and back before I committed to the Accord he once told me that he could get me a Nissan if that's what I was looking for). In any case I've gotten nothing back from him. I even tried contacting someone else at the dealership. They have a buyback program advertised on their website so I tired to contact the person in charge of it via email. Nothing... So I got in touch with one of the 4 local Nissan dealerships. They have the exact truck that I'm looking for at a price out-the-door of $31,278.20. I told them about the trade after they gave me that price, and then I mentioned that I'd already received an offer for $22,000. They assured me that as long as the appraisal didn't flag anything, they would be able to beat that offer. I've looked at local craigslist and Autotrader posts for cars similar to my own. Based on those I'm pretty confident that I could sell the car privately for at least $24,000. I may even be able to get $25,000, but that will add some headache for me (obtaining and then transferring the title, dealing with prospective buyers and test drives). So now I have a few questions:
How much higher than $22,000 should I expect them to go? Is $23,000 too much to ask? That was always my "sign the paperwork" number. I don't want to be a dick, but I feel like I should stick to that number.
What's up with the Honda dealership blowing me off? Will the salesman get penalized in some way if I try to trade the car in?
Is that a good price on the Nissan? It's lower than I've seen anywhere else in months. Plus Nissan is offering a $1,500 rebate on Frontiers during the month of March. How can I find out the invoice price that the dealer would have paid for the car? I was thinking that if they wouldn't come up to $23,000 for the trade, maybe they would take a little more off the price for the truck but I don't want to be a jerk about it if they are already giving me a great deal.
Edit: I see there is not a lot of love for the Frontier. For me, it's a great truck. I owned a 2018 that was totaled in an accident back in January. I never had a problem with it. It's a great size and fulfills my needs perfectly. I'm more concerned with making a good deal on the trade-in than which mid-sized truck I should be considering.
Am I overvaluing my trade? (2015 Ram 1500) + question regarding positive equity
I know the likely answer is “YES”, but I’m not so sure. Here are the details, I’ll try to keep it short and to the point. Moving to a larger city and wanting a smaller vehicle. Landed on the Stelvio and can’t get unattached. KBB/NADA say my truck is worth between $25k and $27ish on trade. AutotradeCargurus says it would be listed by a dealer between $29k and $32k. Trade: 2015 Ram 1500 Sport 2wd Crew Cab, Black exterior with factory black out package, leather, heated/ventilated seats, heated steering wheel, premium factory stereo, navigation, front and rear parking sensors, rear view camera, remote start, 32 gal fuel tank, T hood (comes with Sport package). 40,000 miles, full synthetic oil changes every 6k miles, 1 accident with only cosmetic damage that was professionally repaired, no mechanical issues, no dings, no major chips or scratches. One dealer offered me $23k, another offered $23,500. The second dealer might have gone to $24,000, but I think $25,000 is the correct low offer being it needs minimal reconditioning (maybe new tires, safety etc. and a good detail). Am I way off here? I owe $10,200 so I have good equity in it, though I’d like more so not in a major rush to get rid of it. Also, for someone like me with $10,000+ equity in my vehicle, would it be a bad move to consider leasing? I feel like giving up the equity is bad but it’s also a depreciating asset...I’d have to keep the next car for at least 4 years to keep from chipping away at whatever equity I put into it.
I will be moving on to my next truck sooner rather than later and found this 2011 F150 XLT 4x4 SuperCab LB I know there are opinions on the reliability of the ecoboost engines, but other than that, this seems like it could be a solid truck. CarGurus says it’s $3,200 overpriced. Autotrader says it’s around $400 above range. Cars.com says it’s a good deal. I believe it’s priced a little high, but it also is a somewhat rare combo with the supercab and the 8ft bed. If it’s relevant, I plan to put ~$6k down and finance the rest. My existing truck (‘07 F150 XLT 200k mi) has a transmission leak along with a few other issues, so I doubt I will get much for a trade in. What are your thoughts? Any reason you think this is a bad truck? What should I look out for on this truck? Thanks!
Been trying to sell my truck for a month. Listed both on autotrader and kijiji with no interest. Priced right based on appraisal from local dealer. Anyone know a better way to sell it? Not interested in trading it in, as cash is needed. Much appreciated.
I'm an idiot when it comes to cars. Could use some advice on what to buy
So as the title states, I've never been much of a car guy. I've driven two cars in the last 15 years, a 91 ranger and my current 2004 Focus. The Focus was a hand me down. I've gone nearly 12 years with the same car and I've only put about 50k miles on it. I don't do a lot of driving but the car is in terrible shape. Damage to the body, no air bags, brakes are starting to go out, tires need to be replaced, heat stopped working. I stopped taking care of the car and it's starting to show. Will probably just give it back to my parents so my dad has something to work on because I doubt I'd see much from a trade in. With that being said, I'm torn on what to do next. I was really hoping to upgrade to something a little more modern, something that can hold up for the long term as long as I take better care of it than my previous car. I'm not a big fan of leasing so I've tried to write that option off. I was looking into financing something up to around 10-13k with around 2-4k down. My goal is to keep my car payments and insurance rates combined below 400 a month. I live around the Detroit area, so I get screwed on my insurance rates. I've never had to personally deal with a dealership so I'm not entirely sure what to expect. I've priced out a few options through sites like autotrader and looked up insurance quotes for the cars I'm interested in, and this is what I've come up with based around dealers within 25 miles of my area. Wants: 2014+ Fusion(189 a month for insurance) 2012+ Civic(160 a month for insurance) 2014+ Impala (171 a month for insurance) All of the ones I've looked in to average around 30k-60k miles, and the cost of financing, taxes, etc would put me right around my 400 a month limit with less than 2k down. Affordable: 2013+ Escape (129 a month for insurance) 2012+ Equinox(131 a month for insurance) Again, these are all around the 30k-60k mileage range. The total monthly cost would put me below 350 a month with less than 2k down. High Mileage: 2004+ Pick Up. Haven't really checked too many quotes for trucks. A decent pick up has always been a strong want for me because I do manual labor for a living and wouldn't mind a decent work truck, but again I'd prefer something a bit more modern, and a modern truck with high miles is still out of my price range. 2013 Edge (131 a month) I've always liked the Edge but they're generally out of my price range. I found one with 90k miles on it listed for 13,500 with a strong maintenance record. 2010+ Subaru: Almost all of the Subaru's in my price range are over 100k miles. The only ones I've been able to find that are below 75k tend to come with rebuilt titles. I haven't really looked too much into this but I like the AWD and have had these cars recommended to me by plenty of people if I want something that will last. A few of the other cars that I liked I've been advised to generally avoid. That includes a more modern Focus or anything from Chrysler. I plan on making monthly payments on my insurance until my term is up, and then I'll go back to 2 payments a year. I have excellent credit with very little debt. My rent only accounts for 25% of my monthly income but I'm dedicating another portion of my savings towards a down payment on a home in the next few years. I'm trying to keep car payments below 200 a month and don't have too many issues with taking a 72 month loan for something that could last a while. I've had a lot of people tell me to just take the money I've set aside for a down payment(up to 4k) and just buy an older beater car with cash, but I'd rather have something more modern that will last the next 10-15 years. If none of this makes sense I understand. I'm not the best with personal finance and this is my first real attempt at car shopping. Any advice would be welcome.
My car is paid off, how do I go about trading it in?
I have a 2015 VW Jetta GLI with 33,000 miles. KBB shows it's worth around $16,000 and Autotrader has listings being showed as such, however the price seems to drop to around $11,000-$13,000 when it reaches 40,000 miles so I plan on trading it in on a truck soon (just bought a dirt bike...no way to transport it). The trucks i'm looking at are around $24,000, so about an 8-thousand dollar difference. How would I go about financing this? I'm 21 and this would be my first time dealing with financing on my own. Is it as simple as my trade-in acting as a downpayment and me financing the rest? I want to be as confident as possible in what I need so I don't get scammed or taken advantage of due to my ignorance.
Hey guys. I'm looking to trade my Wrangler in for a 4Runner. I recently came across this '16 trail edition on Autotrader. $31k seems to be a little pricey for a truck that has 61k miles on it though. Here it is. Please let me know if this would be a wise purchase. Thanks!!
From a car salesman to my fellow redditors, on car buying tips. This can easily save you thousands of dollars.
Dear fellow redditors, As a new & used car salesman, I have seen a lot of posts on how to get "good deals". If figured I would assist all of you on what to do, and what not to do. I have only been in this business for 9 months, and some of my fellow salesman may get a little upset by this post: Keep in mind, there are two parts of the sales process. There is the "Front end" (salesman) and the "back end" (finance). Your needs: Understand what you are looking for in a vehicle, and be realistic. There are different size SUVs, sedans, coupes, mini-vans, and trucks. Everyone has different needs and wants. For instance, most people want leather, but can settle with cloth. Even though navigation is a nice feature, you can easily get a GPS for $100.00. Everyone has different needs and wants. Please make sure you know what you need compared to what you want. Utilize the internet: Shop around online. By doing this, you can easily get the lowest prices. However, you also have to read the fine print. Some dealerships will offer you an amazing online price, but they may also include incentives and rebates you may not qualify for. Not everyone is a recent college grad, or active duty military. Please read the fine print. If you are looking for a specific new vehicle, do not hesitate to utilize the manufacturer's website. Try the "build your own" feature. This will give you an idea of what your realistic car will cost you. If you submit this vehicle, it will go to the nearest dealership, which may or may not have that vehicle in stock. You do not have to settle. When you have decided on a new vehicle, do not hesitate to call that local dealership, and ask for "Matrix Pricing". Every dealership has matrix pricing which gives a percentage off the MSRP. Know your credit score: This is a major issue. I understand bad things happen to good people, I have sympathy for most. You have to understand what your buying power is. Car dealerships mostly use equifax, and we can multi-credit to transunion to see if we can boost your credit score. This is only if you are above a 609. The higher your score, the better your interest rate will be for obvious reasons. If you have credit issues, please bring a co-signer that has a decent credit score, and a decent amount of income-to-debt ration. If you are unsure of your credit, most name-brand dealerships (ABC Ford, XYZ Toyota) will have a credit application link, that will let you know what your credit score is. Trade-in: If you are still financing a vehicle you plan to trade-in, you may carry some negative equity over. This means you are paying more for the vehicle than what it is worth. To find out the difference, please call your financial institution, and ask for a "10 Day Payoff". Then utilize websites such as Autotrader.com , to see roughly what your vehicle is worth. I use the term "roughly", due to the fact that your vehicle may be worth more. Before you utilize a website like autotrader, keep in mind, that you have to be honest with that information, other wise the number that is produced will be unrealistic. Look at your possible trade-in, and pretend that you are buying it from yourself. Annotate any damage, (nicks, scratches, dents, dings, etc). If you fail to do so, the dealership will find them, when you bring it in to seal the deal. Yes it may be true that you can get more money for it selling it yourself, but time may be the biggest factor. The longer you have it in your possession, the more it can depreciate. Going to the dealership: It is best to set-up an appointment. If you are unsure what salesman to work with, use a website called Dealerrater.com. This way, you can see what kind of salesman you have the options of working with. Look at how many reviews + the quality that salesman has received. If you are shopping around for a car, you can pick your own salesman. Keep in mind you are in control, from the moment you walk into the dealership. You don't have to let a salesman control the situation. If you feel uncomfortable, you can move on to someone else, or walk away at anytime. I will let you know, that your salesman, has scripts, like an actor. We have rehearsed these lines, and we have had training on them. If you have followed the previous steps, the rest should be fairly easy. Once you have located the vehicle that you want, ask everything that is important to you. This is what they call the presentation part. The salesman will figure out what your "hot buttons" are, and go over those key features to try to impress you. This is called the "Wow factor". Feel free to test drive the vehicle. This is usually a 10 minute ordeal. If you need more time, speak up!! After the test drive, you should be shown the service department. This is a good thing,especially if you are entitled to free maintenance. The salesman would most likely do some paperwork. If you have already done your research, and found the vehicle you want to purchase, please by all means, let him/her proceed. This is where everything comes together. You can explain that you have already received the matrix pricing. This cuts negotiation, of the vehicle. If you have negative equity, that will be added to your new loan. This means if you were looking at a $10,000 vehicle, and have $5,000 negative equity, the vehicle you are trying to purchase just went to $15,000. When you see your interest rate, you may be able to negotiate it by a half point, or by a point. This is depending on your credit as well as any negative equity. If you have negative equity, please have a down payment. I have seen many people with "not so good credit", try to negotiate, and they had to leave upset. If you want gap insurance, you can ask to have it added, or if you want an additional warranty, you can have it included. You can negotiate these prices. The dealership may bring out a "closer", someone who may try to get you to buy the car that day. If you are within your budget after all this is said and done, you can easily sign the paperwork committing to it. If the vehicle you are looking at does not suit your needs, do not let the paperwork commence! If you are unsure of buying that vehicle that day, you can tell the dealership that you will not buy today, but tomorrow. Never lose control. Finance: When you speak to the finance manager, they will discuss cosmetic protection, vehicle service agreements, as well as gap insurance. You can easily negotiate these terms. It is best to negotiate these with the finance manager, due to the fact that there is no longer a "middle-man" Also: Statistically, 85% of women in a relationship have the buying power. Salesman are now trained to engage the woman in a conversation about the vehicle vice the traditional male counterpart. Also, if you bring someone with you, that is not going to be your co-signer, be careful of what they say. It can ruin your deal. If they have concerns, they can voice them to you, just ask the salesman to leave for a minute. I hope this helps all of you. The reason for this post, is that not all of us car salesmen & women are bad people. We prefer to be more of a customer service type, rather than a salesman. We would rather be your friend, than your enemy. I would rather make a little bit of money off of you ($100), and you refer your friends and family, and I can do the same for them. Word of mouth travels faster than any advertising I could ever do. With that said, yes I make commission. I get about 20% off of the gross profit from the dealership. Yes, I have a quota. But I can only do that by selling units, (vehicles). The more I sell, (regardless of gross profit) the better my paycheck is. Also, I am located in Virginia, if you want more information PM me, and I will answer all questions you may have. Please be kind to me, since I have given you the full insight to my job. EDIT: TL;DR Do your research, set yourself up for success, it will you save time and thousands of dollars
New to posting so I apologize if this isn't the correct sub. Currently own (financed) two vehicles and need to get down to one. Wondering which would be best to keep from a total cost of ownership perspective and overall. It's probably important to note that I currently live in Alaska as SUVs and pickups with AWD seem to carry a premium around here. Will be relocating to TX/OK within 12-18 months. I am also interested to hear where you all think I could get the sale price (i.e. to dealership, Craigslist etc.). Plan is to sell one and pay down the balance on the remaining vehicle. Any input is much appreciated! 2012 Mercedes GLK - 4MATIC - Leased new in 2011 then bought out lease and financed in 2014 - Approx. 34,000 miles - Monthly payment: $512 - Currently owe $21,237 on loan - KBB estimated resale value to private party: $21,548 - KBB estimated trade in to dealer: $20,143 2010 Ford F150 - Platinum - Purchased used in 2016 - Approx. 113,000 miles - Monthly payment: $384 - Currently owe $19,154 on loan - KBB estimated resale value to private party: $19,563 - KBB estimated trade in to dealer: $19,217 EDIT - I've found a few listings of similar vehicles currently for sale which seem to validate the KBB estimates for the GLK Autotrader & Craigslist. Link to similar truck currently for sale. I know this doesn't mean they will sell for these prices but gives an idea of the market here in AK.
A year ago, I sought to eliminate all my debts and so sold a truck that I was making payments on (and had crap gas mileage.. go figure!). I used the proceeds from that to buy outright a 2006.5 Kia Optima EX v6 that was fully loaded. Wasn't a bad car for it's era, and it only had 19200 miles. Fast forward to this week: 1) It's developed electrical gremlins - directionals occasionally cut out. Throws the occasional CEL code for the TCM, complaining about a shift solenoid. 2) Cruising at highway speeds, the transmission occasionally drops down a gear, leading to quite high revs. Not Redline, but closer than I care to have it. 3) From a dead stop, if I accelerate aggressively to get into traffic, the engine occasionally revs way up, you hear a loud bang as the transmission drops into gear, and the car lurches forward. I'm fairly sure it's due to 11 year old Korean electronics and the bug-a-boos I didn't know about. I also, despite the car now only having 27,000 miles, have little faith that there isn't an iceberg under that tip that's been jabbing me of late (Meaning, of course, I don't trust an 11 year old Korean car any longer, despite low miles). I've patched it enough to make it run properly (for now), and I've gotten rid of all the CEL codes. KBB books the car in good condition at around 4200. My intentions are to negotiate with the dealer to get 5k for the car. I've found a 2015 Toyota Corolla with 16k miles for 13,499. From AutoTrader's calculator: Estimated Payment: 178 a month for 48 months at 3.1% APR Price of the car: 13499 Sales tax: 1316 Down payment: 1816 Trade-in: 5000 Amount owed on trade: 0 Total Financed: 8000 Total Interest: 517 Total Loan: 8517 The car still has 2 years, 18 thousand miles on the factory warranty. It comes with a Lifetime Powertrain Warranty from the dealership (just have to keep up on the maintenance, which I do anyhow). Yes, I know people recommend buying a reliable used car.. that's what this 'yota is. It's a YOTA.. and if you take care of it, you'll probably die before it will. I'm just tired of trying to cheap it, like I did with the Kia. I want something newer, with a proven track record of holding value and being reliable. Additional background: I'm 5 years post Bankruptcy. It was a chapter 7, due to medical bills. I've restored my credit rating to 735. I have no other debts aside from my mortgage of 950 a month. I rent two bedrooms of my home to friends, totalling 900/month, there. I have an emergency fund of over 27k, currently. I've also recently obtained a new job working for a City Government... and while I'm a Contractor, I have plenty of evidence that they're intending to bring me on full time sometime in April through July. I am currently being paid 42.50 an hour, which is roughly 88,400/year. While I would RATHER not do anything with the car until then.. being a shade-tree mechanic, something tells me this car just isn't going to make it that long. So, my thoughts are to either double up on the payments on the 'yota and pay it off fast... or to allow it to go the full four years to build my credit even further. By the time this car is paid off that way, I should be emerging from the far side of the Bankruptcy and a successful completion of the loan should be another boost to the rating. Given my bank balance and steady employ, and stellar record post BK, I anticipate being in the low to mid 800's at that time. Those are my thoughts.. what are yours? Decent idea? Fast-pay the car, or let it run its course, given the cost of the loan would only be 517, and the boost to credit rating (Helping with home purchase, etc) would be useful? -HakkenSlash
Is this deal too good to be true? 2007 dodge quad cab hemi with low miles for $15,000!?!
So i'm 27 and about to finance a car for the first time ever. My credit union has pre-approved me at a 1.75% interest rate thanks to my 795 credit score! $15000 was about the max i really wanted to spend as it would leave me with a very manageable $260/mo payment. (I'm a broke teacher) Anyway, i've just started browsing cars over the past couple of days as i've finally had it with my busted old 95 maxima (which i plan to sell but i doubt is worth trading in as KBB puts it at $1200 if it were in immaculate shape, which it is far from). I had planned on taking my time as my loan approval is good for 60 days, but today, I came across THIS TRUCK! According to Kelley Blue Book its about $10K UNDERpriced, and that's if it were from a private sale, not a dealer. I didnt really want the HEMI as i wanted a full size truck with slightly better MPGs but this seemed like too good of a deal to NOT jump on it. So i guess what im asking is, "is there something sketchy i should look for?" and "should i even bother trying to haggle them down anymore?" i know everyone says "no one ever pays sticker" and "they can always come down more than they're asking" but if it's marked that low...? Help me out guys. thanks.
Looking to get my second truck ever. Need help deciding!
Well, a little history. I had a gorgeous 96 Z71 when I was in High School and loved it. But time came to leave for college and I needed something better on gas. In hindsight, I regret trading away Lord Fergus, but my little Prix has done me well. Since then I've graduated and am looking to find a new best-truck friend. I've found 3 options that are really tempting, but I've been out of the game for a while, I wouldn't know what to ask/which is best so I've come to you, /trucks, for advice! Truck 1: We've got a contender with the side-step bed, newer wheels, and dual exhaust, much like the Lord Fergus. Truck 2: A good deal different! I always admired the regular cab/long bed combination, plus this truck looks incredibly clean and is a good body-style newer. Finally, Truck 3: This is actually the one I'm leaning towards because it looks so clean and has that split-bench that I miss dearly! Plus the full width bed seems nicer than the side-step option. It doesn't hurt that it's the least expensive of the 3 either. If anyone wouldn't mind telling me what to look for when I take these trucks out for a test-drive, I'd greatly appreciate it! I'm already planning on asking about accident history, if any of them are running a code, and thoroughly inspecting the notorious body corners, but any other guidance would rock. Thanks again!
My dad retired and is looking to downsize his truck. He was going to trade in his '04 5.9 crew cab but dealer only offered him $17k. Sounds very low to me based on what I read on this sub. The truck is very clean, 117k miles, one owner. Only rust is a little under his fender flairs and he just bought a new box for it, just needs to be installed. Seems like he should be able to get $20k+ out of it but where to sell? I've used Autotrader before with mixed results. Never sold anything but furniture on CL. The only after market parts on this truck is a leveling kit, grill blanket and a fold-up tailgate ladder. It's an old man special, I feel like people would even travel to buy I just don't know where to list.
Tesla's stock falls after Elon Musk reveals his 'master plan'
This is an automatic summary, original reduced by 82%.
After more than a week of teasing about its existence, Elon Musk revealed Part 2 of his "Master product plan" for Tesla on Wednesday evening. In a blog post published on the automaker's website, Musk introduced a multiyear, four-pronged strategy that includes new kinds of Tesla vehicles, expanded solar initiatives, updates on Tesla's "Autopilot" technology and a ride-sharing program. Tesla's stock Thursday morning was trading at $222, down about 3%. While the plan is bold and futuristic, financial analysts see it as vague with no hard timelines, a distraction from here-and-now concerns such as getting the upcoming Tesla 3 through the assembly line and onto the market. A heavy-duty truck called the Tesla Semi and a shrunken bus that Musk called a "High passenger density urban transport" vehicle are in early development stages "And should be ready for unveiling next year," he said. Musk also used the master plan to defend his bid for rooftop solar power provider SolarCity and said he aims to make Tesla's Autopilot robotic driver-assist system 10 times safer than cars that humans drive manually. Michelle Krebs, senior analyst at Autotrader, summed up her views this way: "As is typical, Elon Musk has laid out a grandiose plan for the future with no time frames and few specifics, and no mention of how and when Tesla will be profitable."
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Right Line Trading +1 (786) 732-4656 [email protected] www.rightlinetrading.com Publica con clasificados dobles o cuadruples en Auto Trader Mexico con fotos multiples. www.autotrader.com.mx. The next video is starting stop. Loading... Watch Queue Ven a conocer los Monster Truck en el estacionamiento de Auto Trader Tijuana, en Blvd. Bellas Artes, junto a la Garita de Otay. Miercoles 9 de Septiembre de 12 a 6 pm. Unico Dia. Auto Trader is the UK’s largest automotive marketplace for buying and selling new and used cars, and our YouTube channel will help make finding your next veh...