I'm a car salesmen, Go ahead and ask me anything

[TimSJ]

there is really no good way to get out of a negative equity situation. The best way if possible is to just write the check and start clean. Otherwise all you are doing is delaying the inevetable and paying interest on the negative equity.

the only other way is to buy something with big rebates and 0% and pay it off as quicly as possible.

[TimSJ]

Originally Posted by Fozzie_DeBear

From a depreciation POV am I better off to buy an older luxury car (2001 Maxima, Acura TL etc) with about 100k or a newer 2004+ family car (Mazda 3/6)?

I am looking to drop about $20k and put another 100k on the odometer.

I guess i woudl say any car that has 200k on it isn't really worth that much. that said some higher end cars get to a certain point and stay there forever..

For instance i just sold an 87 MB 300E I bought as a 3rd car for $4200.. THe onld MB you can ask $5k for forever

[TimSJ]

Originally Posted by DuffMan

what kind of a deal would a dealership give you if you got a new vehicle and a used vehicle from them at the same time, both 15 - 20 range.

depends on the gross profit in the cars. typical used have 10-15% profit in them and new are prob 8-10%

[Reggie Dunlop]

I'm considering a hybrid car -- the Prius or perhaps the Civic.

All other attributes aside, how do these things handle a Canadian winter?

[TimSJ]

Originally Posted by MoneyGuy

My daughter wants to buy her second used car. She's early 20s. How can she find fair prices for used cars without having the book? I don't want her to overpay.

All you can do is research.. What i do when researching what i should be paying for a car look at the autotrader. throw out the top 1/3 and the bottom third and look at the average. From the avg.. knock $500 -1000 off and that is probably what the dealer really expects ot sell it for

[TimSJ]

Originally Posted by Mean Mr. Mustard

I am in a similar situation to the poster above, as I am in my early 20s I am looking at getting a better car than the piece of garbage that I have right now, the question that I have is whether it is worth the wait for the Ford Family plan in July or whether that is a price that I could walk onto any lot and get with half an hour of haggling.

i would wait for the ford family plan and then try and beat them up some more...

[TimSJ]

Originally Posted by Reggie Dunlop

I'm considering a hybrid car -- the Prius or perhaps the Civic.

All other attributes aside, how do these things handle a Canadian winter?

Buy a Clean diesel... It will be cheaper to own/run in real world conditions. that is my .02c anyway..

Personally I really have not bought into the hybrid hype.

[calgaryrocks]

how much would my 94 corolla go for? it has about 230,000 km on it, no rust, mp3 deck, good all season tires, runs well

[Igottago]

I recently had a job interview with a dealership in Vancouver. I'm questioning the potential earnings. Basically base pay is min. wage and then everything is commission. It is a reputable dealership for a reputable car company.

Am I going to be able to make a half-decent living, or will I be barely scraping by at times?

[TimSJ]

It is hard to say. You woudl be doing better than me we doin't even get a base pay it is all commission.

The first year is the hardest there will be months when you wonder why the hell you are doing it. If you can make it thrugh that it will start to get better. I am 7 years in now and it is getting to be pretty good. lots of repeat clients every month which really helps.

typically there are 2 or 3 guys doing very well at a dealership and lots just sort of floating around. I had my best year last year and made about $90k. my best advice if you do go into car sales is to not sit in the showroom and wait for ups.. you will starve.. prospect prospect prospect.. as the old saying goes the more you throw at the wall the more that sticks.

[TimSJ]

Originally Posted by calgaryrocks

how much would my 94 corolla go for? it has about 230,000 km on it, no rust, mp3 deck, good all season tires, runs well

Not too sure... i will look it up in the morning my guess would be prob a $2500 car retail.

[burnin_vernon]

Originally Posted by TimSJ

I had my best year last year and made about $90k.

What was your worst year, if I may?

[TimSJ]

my first year was somewhere between 35-40..

I have seen guys at our store go over a month without selling anythign though. that would suck

[Igottago]

Originally Posted by TimSJ

It is hard to say. You woudl be doing better than me we doin't even get a base pay it is all commission.

The first year is the hardest there will be months when you wonder why the hell you are doing it. If you can make it thrugh that it will start to get better. I am 7 years in now and it is getting to be pretty good. lots of repeat clients every month which really helps.

typically there are 2 or 3 guys doing very well at a dealership and lots just sort of floating around. I had my best year last year and made about $90k. my best advice if you do go into car sales is to not sit in the showroom and wait for ups.. you will starve.. prospect prospect prospect.. as the old saying goes the more you throw at the wall the more that sticks.

Thanks for the insight. What types of approaches seem to work? Do you have to be pretty aggressive? Are you constantly competing with your co-workers for sales?

[DuffMan]

TimSJ, what kind of vehicles do you sell?

[jharp]

I am looking for a car in the $5000-$6000 range. My main criteria is good on gas and fairly reliable, do you have any recommendations?
Thanks very much.

[TimSJ]

I work for a Mercedes-Benz Dealership duffman

[TimSJ]

a corolla might be a good choice jharp

[TimSJ]

Originally Posted by Igottago

Thanks for the insight. What types of approaches seem to work? Do you have to be pretty aggressive? Are you constantly competing with your co-workers for sales?

You do have to be agressive. but nottoo agressive with customers as that can turn them off sometimes. THe biggest thing is to follow the process. Don't be afraid to ask for the sale and shut up once someone has said yes. I have seen lots of guys talk themselves into a sale and then right back out of it again.

Get used to hearing NO a lot.

You do compete with the other sales people no question. there is lots of one upsmanship and ego floating around a sales floor. Walk in customers or ups are generally split up between the guys on the floor.

Prospect, prospect, prospect. You need to talk to everyone you know and let them know you are selling cars.. Referals are your best source of leads. Maybe even tell people you will pay them a birddog(referal) fee if someone they send in buys a car. Jsut make sure that you tell them that the customer has to tell you right off the bat as it can get messy. "My neighbor Bob bought a car off you and i told him to come in where is my money sort of thing.

[jharp]

Originally Posted by TimSJ

a corolla might be a good choice jharp

Thanks very much