Ready to deal
Auction units might be Okay
Thorough check
Great negotiating requires great due diligence.
Know the Monroney or book
Always assertive not aggressive.
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Don’t acknowledge the price anchor.
Always hold your lips together tightly and listen.
Don’t take the other people’s position or attitude personally
ACV verses allowance.
Either way works but one at a time works best
Education is ammunition.
Due diligence is paramount
Buying tips? Watch out
Know what you want
Used price or Monroney label for online buying
The internet for today’s deal.
Get the facts and leave the rest.
Book prices and shop it
Beacon scores
Bank rates and terms
Internet quotes online or however
Assertive not aggressive
Safety sites
Chose a few dealers
Advertising is an ethics measure
Go in armed with the facts
Buying used, the rest of the story
More used purchasing questions
Salvage title means totaled
Only specific circumstances make it a deal
You need to know the reasons
AS IS describes what it is
There are a few yes buts
Leasing should be new units
Used leasing isn’t good
Buying an inexpensive (cheap) used vehicle
Priorities vary by price
Clear title is always number one
A list of considerations
Low dollars is about condition
Banks always play a part
Buying a preowned
It’s not an exact science
Is a used vehicle deal different than a new vehicle deal
Resale consideration is much the same
Deciding what is a little less perfect
Use all the pricing guides
You need wholesale and retail
Selection can’t be too picky
Dealer considerations
Special reports will help
Basic needs
Looking it over
Check for flood signs
More due diligence
List of ten keys
Even more banks
Don’t be afraid to walk
OTD or months, rate, amount
Cash is Okay on the non-dealer
It all matters
What about your trade?
CPO is still a poor choice
Deciphering dealer advertising
Not so smart car end
Test drive or wait
Bait and missing
Switching stories
Ridiculous trade values
No matter what you owe
Multiple rebates
Employee pricing, means what?
Disclosures
Plus everything
Radio, newspaper, magazines, TV, social media, other internet
FTC will help eventually
Not a single number matters
A dealer’s ads uncover their ethical character
The don’ts of automotive buying
When the storm is over
Gas is cheap
Electric resale is a question
The do not’s win
A list of what not to do
Extra leasing
Pick one out without terms
Always test drive
Think about the future, the fit, your needs, resale value, etc.
Bank first, deal later
Never talk cash
Always, Carfax/Auto check
Never give up
Stick to Deal Talk
Dealing with a one price store
Always be careful of the special deals
Maintenance can wait during the epidemic
Repairs might not wait
Lower overhead and better averages
Customer satisfaction is not the reason
2+2 is not 5
One price does not mean good price
Ho Hum at best
F&I has more time
Negotiating is a happier customer
Usually a higher average profit
Don’t let your guard down
Buying vehicles and protecting credit during the virus
You are in control
Easier over the phone
Easier internet information
In writing is always better
Due diligence still applies
You have more time
Protecting credit score
Score factors
What hurts credit
Too much buying power
End the extra credit
Communication is king
Peter to Paul
True one price is a culture
When is the best time to buy?
1. Hold off buying might be a good idea
2. Keep you loan company in the loop
3. Wipe it down weekly
4. Keep it full
5. When is a big factor
6. Weather can be on your side
7. Post-holiday
8. Summer heat
9. Week day
10. Last or 32nd
11. Time thoughts
12. Morning, noon or evening
13. New model or left-over?
14. Two year late model used
15. Oddity of design change
16. When not to buy?
17. Lease timing advantages are similar
18. Use what you can
The Resale Story
Demos aren’t required
Always try it on
Resale value should be your number one
Resale is part of your deal
A good deal, might not be
Good resale shrinks minus equity
Is resale part of the deal?
Biggest cost but considered the least
A year round factor
What is Predictable?
What else plays a part?
How to protect resale
What are all the factors?
What can you do?
Think twice, buy once
Everyone will get something out of this book
Don't be this guy
Geoffrey Jerome
After 35 years in the automotive industry I know how to get a great deal!
If you have a question, email me and I will get back to you. Dealtalkpodcast@gmail.com
Geoffrey has written a number of business books and now writes fiction titles for both children and adults
Fott's Journey: Ages 4-9
Fott's Butterfly: Ages 4-9
Marshal Gold: Western action for adults
