The biggest factor, resale value
Winter prep
Resale value is truly the king
Maybe year round
Upside down vs resale value
Is resale part of the deal?
What seems like a good deal, maybe not!
Biggest cost, considered the least
What affects resale?
Predictable resale?
What are all the factors?
How to protect resale
You can control some of it
Part of the due diligence
When matters
Rules and definitions
F&I profits are going up
Don’t get shut out
How much due diligence?
Effort equals results, as everything
The main concepts
OTD is king
CPI every payment
Upside down/minus equity
ACV vs Trade in allowance
Trade value preparation
What cash?
Same exact vehicle
Assertive
Why list vs price
Focus on what matters
A few more
Preparation
GM bumper to bumper option
$2000 up to the dealer
Recently bankrupt?
After you have picked, what’s next
Ads won’t help you
Getting online quotes
What you might write
Where for Beacon
Bank info
Call insurance
After market research
Check the amenities while testing
Have you ever been this ready?
The considerations when you’re picking a dealer
What about the chain stores?
Selection does not equal value
Bureaucracy can get in the way
Online sellers, another mouth to feed
Make a list
No substitute for due diligence
Leasing facts
Flexible lease
Payment packing unclear
Does it make sense?
Peace of mind
So many points
More vehicles in ten years
No repair
Tax advantage
You have rights
Still due diligence
Keep your trade dollars
Odometer problems, you win
Odometer laws apply to everyone
OTD means everything included
If something is wrong in your deal
Due diligence, due process
Salesperson, Manager, Dealer principal
Manufacturer
The bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC
UDAP statutes
Attorney
Assertive and persistent, not aggressive
Lease, rent or purchase choices
Talking F&I:
In Utah
Pricing on a lease
Budgeting new or used
The business office is about money
Bank commissions are huge
Shop the rates
Shop all the products
Don’t be at the top of the profit average
Review your payment before you start
Payment packing is a real issue
Get the break down every single time
Be sure you are approved before you take delivery
Ninety days to first
Preparation is the key
What about factory certified pre-owned
Another supply of flood vehicles
Take your time and look at everything
States are trying to save the CFPB rules
Another quality and crash test by CR
100-300 point checks
Another market for the dealer
Bank rates are comparable
It’s far from free for anyone
Certified can cost several thousand more
Pay in advance for what might happen
Low mileage and a clean car fax
The book does not add for certification when you trade
Prior certification does not add to resale value
The what, why and how of upside down.
Average monthly payment is peaking for new and used
Stick to the play to keep the payment in line
2 Million in fines is an example we need
Upside down, minus equity, under water
What can you do?
Know where you are
Type 1, type 2 and type 3
Bad resale = minus equity
Long loan terms = minus equity
Big dealer profits = minus equity
Minimizing the chances, if you can
Resale value counts
In the future, 8 tips
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
