Deal Talk 169 The biggest factor, resale value

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

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Deal Talk 168 When matters

When matters

  1. When is the question
  2. States with highest
  3. States with the lowest
  4. Buying out of state could mean thousands saved
  5. Upside down/resale value % counts
  6. Use every advantage possible
  7. Post-holiday
  8. Week day
  9. Last or 32nd,
  10. Time of day thoughts
  11. Morning, noon or evening
  12. New model, left-over, 2 year used
  13. Oddity of design change
  14. Leasing is similar

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Deal Talk 167 Rules and definitions

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

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Deal Talk 166 What’s the plan?

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

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Deal Talk 165 More leasing facts

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

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Deal Talk 164 If your deal has a problem

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

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Deal Talk 163 Lease, rent or purchase choices

Lease, rent or purchase choices

  • Refundable deposits
  • Returning your purchase
  • Subscriptions
  • Buying short term
  • Balloon
  • 36 months or less only
  • None or little maintenance
  • Mileage allowance
  • Resale matters
  • Choices, trade sell or buy
  • Tax advantage
  • Peace of mind
  • Due diligence research
  • Multiply or divide by 2400
  • Shop sign and drive
  • Ten year ownership can be the best
  • Four or two in ten
  • Mortgage possibility

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Deal Talk 162 Talking F&I

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

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Deal Talk 161 What about factory certified pre-owned?

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

 

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Deal Talk 160 The what, why and how of upside down

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

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