Car Dealers HATE When YOU KNOW These 5 THINGS

Well, Zach, this is what I found

when

I was doing a little bit of research regarding this Honda CRV EXL, um four wheel drive that I'm looking at, as you can see, is the serial number of this particular unit. it is RH 46860 and what I discovered is that there is a 110 day supply of these vehicles in our market area; Statistically, there are 1363 CRV EXL available right now and only 560 have been sold in the last 60 days, so that's probably double the daily supply that you would normally like for a vehicle you're trying to sell. I would think Ray.

Am. I'm glad you're here at the Honda

dealers

hip. I'm just a salesman. I mean all these numbers. you're throwing me off we're at MSRP only

dealers

hips we don't charge above or below MSRP we're at MSRP all the numbers you just said that's above my pay rate. It sounds interesting, but I don't

know

what you're talking about, you

know

what, why not? Why don't you take the sheet I just gave you and share it with someone whose salary level is entry-level with the type of deal we're going to make? I need you to be able to say yes to purchasing this CRV, as you can see the good folks at Carage suggest that a reasonable discount on this vehicle would be close to $2,700, so I think you need to share some of this information with your boss so you know that we can we can deal with the right members of staff here okay let me go talk to my manager Ray I don't know what these numbers mean but maybe my boss does hey Ray I have some not so good news I spoke with our manager, he understands what you were talking about with days supply and total sold and all that fun stuff, but I have bad news, we are an MSRP dealer right? the stats and numbers the price is the price that will be in MSRP uh Zach.

You know I dug a little deeper into why you were talking to your manager. I found a different one on your lot and he's actually been on your lot for 5 days. um and so I understand that you're hey, it's MSRP or the highway um, unfortunately, if there's not going to be any movement on an old unit, I know your boss realizes that this is an old unit. I have some friends. who spend time in the car business and say dealers like to move their new cars 60-75 days max, this one has 115 days, maybe he can make an exception, do you think you could talk to him about this action? number H3 313 434 you and see if he would be more willing to move an older unit at a discount.

Okay, let me go talk to Mary and see what he wants to do. You said she was h313 434. You and you said we have. I had it for 115 days, that's right, yes, yes, and the key to this is that it is for you. I'm doing it right, I'm actually doing it for me, but it will help you, so let Mary know I'm interested in this. car because it helps her and it helps me and as an elder unit I hope Mary can see the feeling of becoming a little more aggressive in dealing with the car okay Ray I can't believe Mary is doing this but you had reason, it is actually the oldest vehicle. we have our lot after we close this deal you will have to tell me where you get all this information here is the deal here is the asking price you asked for and you can see we have a $1,825 discount off the MSRP which is huge.

I haven't seen us do this in a long time because we are only an MSRP dealer like I said below. You are lucky today. A. If you take the car home, you can have it 25 under MSRP. Tell me, can you put your initials at the bottom? I really appreciate the 1825. I have a question for you. What constitutes that discount? Is there any factory incentive in the factory customer incentive or is it just a dealer discount? Well you know, Ray, it's $1,825 $18 25, that's what's off MSRP and that's the only thing that really matters here is that you're getting off, excuse me for a second Z, what matters is where it's coming from that 1825 if, for example, you know.

I did some research and I know there is a 1500 Honda customer rebate on these models right now and if that's the case that those 1500 of those 1825s are coming directly from Honda, I don't think AR is really taking the age into consideration . from the unit that I'm trying to help you get relief from, let me, um, let me, let me go, let me go, talk to my manager real quick, you know, Mary's going to get tired of you running around , maybe I should bring Mary out next time, okay, Ray, Mary is taking her time with the numbers, we're trying to figure out something that works, she can get you a bottle of water, a Coke, a Pepsi, something so, yeah, you know, I would love a water and before you get there. that you can know I just want you to know that I'm not just pulling numbers out of thin air here you know I've done some research I've been on forums I've seen what other people are paying here Someone who just purchased a similar vehicle stored in California, not very away 9 out of n 9% off MSRP including factory rebate so I just want you to see you know this isn't just me crunching numbers or or or or some wild guess as to why I think you should sell it.

I'm trying to back it up with legitimate information for you. No, I appreciate it. Do you have the printout from the distributor who made it? the 9% deal I would love to show it to Mary, help her understand, hey, raise a serious client, know their numbers, want to get in and out and close the deal, that would be really helpful, do you have the hard copy, yeah, I thought. I would bring with me as much information as possible, well I don't know, I will try to make your job easier and my shopping experience better, so yeah, here, please share this with Mary, congratulations Ray, you are a difficult customer, but okay For you, you have a What a deal here.

I'm so excited for you to come home in your new Honda. We will send you to finance very quickly. It will ensure that you can get all the numbers directly. approved so we can get it into your new vehicle quickly. Do you have any questions or anything for me before I turn it over to finance? The only thing I want you to share with your finance manager was my credit. union um, I have excellent credit. I'm pre-approved there at 6.9% up to 72 months, so I'm going to need your finance manager to get over it, but at least meet that 9 6.9%. rate uh anything about that and um I'm just going to finance through my credit union and I love my credit union by the way I'll let Jason know um yeah Ray you got your eyes on and you you crossed the shirts, my friend.

Great deal and now you have that pre-approval good for you, but yeah, let me let Jason know and we'll see what we can do for you. Yes, I can't, I can't. wait until you meet Jason and do me a favor on your way back to see Jason. Could you thank Mary for being so kind? There you have five

things

you should do if you're going to buy a new or used car in 2024, let's go over them, number one was Market Days Supply and knowing the facts, man, you hit me hard, left hooks, right hooks, you had all the numbers, yeah, I had them, and that's the key to being you, you can't just walk in and say, I want this. price well based on what well that's just what I want to pay, you need to back up what you're trying to do with some facts and some of the facts are knowing the market day deal, how those vehicles have sold in your area where you are trying to buy it if there is low sale on market day it will be harder to get a discount if there is a big sale on market day you can work with the dealer to get a deal yes number two was days on Lot one of the

things

I love doing the car search in Edge again.

You can search for dealers through the dealer review feature, then view their inventory and then sort that inventory from oldest to newest and well, that's exactly what you did with this dealership, you found one that was 115 days old. on your lot and finally worked with them to get a better deal so that was number two it was days on lot number three there are a little bit misleading incentives from the dealer well of course and you should check the incentives national and regional manufacturers, um and it's easy to do, just go to the manufacturer's website, type in your zip code where you are located or where you're going to shop and look for deals and see what deals there are and then you and then search for see if there are regionalized offers and a lot of times dealers like to disguise their incentives as a discount and as you saw in this particular case, $1,500 of that $1,825 discount came directly from the factory, it didn't cost the dealer anything. so you need to know this

when

you're trying to negotiate a better deal, number four, check out the forums, not only can you look at the big fancy numbers from Market Days Supply, the oldest of the lot, go to the forums, the car edge.com community is one of many that use Reddit. or there are specific vehicle or specific brand forums and you pulled up a recent deal on a similar vehicle to help get some context, it doesn't mean a dealer is going to match or beat you, but they are some proof points that really show your connection to land.

Actually, and number five, what did it show up? You need to know you are pre-approved before heading to the finance office. Absolutely, you always want to get pre-approved for a car loan, uh, before you show up at the dealership. I don't want the dealer to dictate to you what the rat will be, you have to dictate to them unless there is some kind of special subsidized rate from the manufacturer then you might qualify for that but if there isn't you should. uh get your best rate and make sure the dealer matches it or better yet beats it there you have it folks check out car edge.com if we can help you in any way buying a new or used vehicle and put it to use these five tips. practice because well, they are actionable and will put dollars back in your pocket.

Thanks dad, it's my pleasure, we're just here to save people a few bucks if we can.