This guidebook is a result of fifteen years of experience working as a car salesman, finance manager and sales manager in car dealerships across the U.S.
It is designed to improve your ability to negotiate the best price on a new car and also help you to avoid the frustrating “back and forth” process that makes purchasing a new vehicle so unpleasant and costly.
Now more than ever, it is important for customers to be aware of the dealer’s hidden profit streams. Recently, the internet has allowed customers easy access to a new vehicle’s invoice cost. In response, dealers have developed techniques to generate their profit from sources not disclosed in the purchase price or on the internet. This guide will prepare the buyer fully with a step-by-step roadmap to the best price.
Before a customer begins negotiations, s/he will know the entire “Front-End” and “Back-End” costs, as well as the techniques dealers use to increase their profits. This information, combined with one-of-a-kind printable calculators and “cheat-sheets,” will eliminate any last minute dealer games.
- To navigate the potential “pitfalls” of buying a car effectively, it is important to have the proper mindset. First, it is rare for a customer to deploy a negotiation strategy that salespeople haven’t already seen. For example, when a customer says, “If the price isn’t good enough…I will leave,” one must keep in mind that the salesperson experiences this strategy on a daily basis. They know exactly how to be successful when a customer acts this way and they actually prefer that type of combative negotiation.
The best deals are made by customers who know exactly how to navigate the dealership’s system and are equipped with accurate pricing, financing and leasing information. The best deals are made by customers who know exactly how to navigate the dealership’s system... Keep in mind that informed customers can make things difficult for themselves if they act like experts or “know-it-alls.” It is never a good idea to “tip your hand” and start quoting the information that is outlined in this guide until the proper time.
There are primarily four different types of salesmen who can be involved in the sales process. They are called “Liners,” Closers,” “the Desk,” and “the F&I manager.”
A “Liner” is the salesman on the front lines. These are the salespeople who greet the customers as they arrive at the dealership and their function is to take the customers through the first steps of the sale. Their main goal is to help the customer select a vehicle. Most importantly, they will attempt to get the customer’s commitment to purchase a vehicle that same day.