Quote:
Originally Posted by dhdallas
I was at one time a new car salesman. Here is the way to buy a car. Go online and get the invoice price. Tell the dealer you will pay the invoice price only and they either agree or go to another dealer. Dealers can even sell under invoice and make money because there is a "hold back" of $xxx that the car manufacturer pays to the dealer after every sale. Our hold back was $750. Never ever give the salesman any cash as a good faith offering so he can show his manager that you are a serious buyer. They will try and hold your money hostage as they keep pressuring you to buy at their price.
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Car buying always was a dirty business. It sounds to me that where you worked not only shafted the customers but the sales staff as well. The dealer does not get the same, hold back on every car. It is actually called a call back and it changes depending on both brand and model. It is 4-6%. The reason why dealers could sell cars for $100 over dealer invoice.
With cars today costing roughly 30,000 4% is 1200 6% is 1,800.
One of our local dealers is running a radio ad they will not sell for over MSRP. MSRP is manufacturers suggested retail price-LIST PRICE. I've not bought a car in several years.
You negotiate from net net-real cost not from list down