I sold my 4Runner last week and had the Ferrari as my only car for a few days. So I really needed to buy a car quick. Trying to buy a Honda or Hyundai when pulling up in a Ferrari is a different experience.
First I have to deal with all the “Are you trading that in” questions. And then the “How fast is it” questions. But after all of that, they generally treat me as a pretty smart buyer. In fact, I liked to pre-empt their strategy by telling them what they are going to do before they do it.
I love how they always ask you what monthly payment you are looking for. I told them I’d like to pay one payment of $25,000. I was looking at a new Hyundai Sante Fe and the sticker was I think $29,900. He does the ‘let me talk to my manager’ thing and before he leaves the office and I say to him, you better not come back with that $29,700 shit that they always do. So the guy comes back with $29,500. LOL After that, I didn’t even counter. I just left.
So I did not buy the Sante Fe. I just couldn’t get myself to buy new, but it was a very nice car and the warranty is great.
The next dealer I went to was a Honda dealer to look at a used Honda Pilot. The sales lady tells me that it’s in outstanding condition. So I drive all the way their and the car is a piece of shit. They basically wasted my time. I told the sales guy that I didn’t want the car. He said what price would you buy it for? I said to him that if you offered it to me at half price I would still think about it.
I really hate car dealers. I wonder how a business that is so hated survives. I bet that if I opened up a car dealer that just sold cars at invoice all day that it would be successful. But I would get run out of business by other car dealers and car companies.
Below is a picture I took while at the Honda dealer. This sign is posted on the wall. This is why poor people or financially illiterate people never get ahead. People will do anything to get that sale. Could you honestly feel good about go down this list with a customer who can’t find a downpayment amount?
I never got the chance to experience how this list works, but I would have loved to debate them over each of these items. Below this sign (which I didn’t get in the photo) said “Reasons that it is in the customer’s best interest to put as much down as possible”. There reasons were, instant equity, lower monthly payment and less interest.