The Big Sale is Over! Boo Hoo!

Well the sale is officially over, and it was a disaster! They sold 18 cars at an average profit of $4460 per deal. That's right $4460 per deal. I told you Stay Away from these events. I don't know about you, but $4500 is way more profit then I will let a Car Dealer make from me. From a dealerships perspective the per car gross average of $4460 was a good average, but the 18 cars they sold was laughable.

Bye, Bye "Fly Ins" from Florida. After these terrible results, I'm sure we won't be using your crew again...

We'll be having another sale in late April, and we'll control the mailers, so this one should be a lot busier and I'm sure I'll have a lot to talk about during that sale. I'm really going to be consumed by the website with all the updates I have planned, so you may not hear much from me, unless it's really good, until the next sale.

In the mean time...

Take care and beware,
J the Car Guy

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I want that one...

We just had a customer that had really bad credit with $2000 to put down and he thought he could buy a $30,000 lifted 4x4 truck we have on the lot. He also had a somewhat limited income. He was a younger guy, and I had to tell him that unfortunately, it doesn't work that way. If you've got really bad credit a deal needs to be worked backwards. Meaning a professional bad credit loan specialist, someone like me, will need to structure a deal for the lender and pick a vehicle for you that works for both you and the lender.

The bad thing when deals are not worked backward, is it can take a lot of your time and can be a real let down once you're told that the $30,000 rig that you really, really, really wanted is not going to work and you'll need to be in a more reasonable $12,000 vehicle. This is especially difficult when a sales person has done their job right and gotten you all pumped up on a vehicle that you won't qualify for.

Take my advice and work with a bad credit loan specialist out the gate, it will save you time, money and aggravation. Apply here 60 Second No Obligation Loan Application at InstantCarLoan.com

In the mean time...

Take care and beware,
J the Car Guy

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Mail still has not hit!!!

Mail still hasn't hit, and I have a strange suspicion that the mailer company has dropped the ball again and this sale is going to flop like the last one. At least we didn't have to pay for this mailer.

Bad thing is I don't think I'll have a whole lot to post about unless we can get some customers to the lot.

I think I'm going to clean up some of these deals from the first couple of days and work on the site more.

In the mean time...

Take care and beware,
J the Car Guy

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First $9,000 Deal of the Sale!

Well we had our first big deal of the sale! $9000 profit on a used truck. Boy! Those buyer's certainly didn't come to my site before they went to buy their vehicle. I've said it many times before, but these "Big Sales" events are shams if you're looking for a great deal.

Mailers still haven't hit. I'm sensing a little De Ja Vu. I'll keep you posted.

In the mean time...

Take care and beware,
J the Car Guy

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These "fly ins" are funny

Well not much happened yesterday. I don't think any of the 60,000 mailers they sent out hit yet. Our last sale none of the mailers hit and the sales guys were here for three weeks to no avail. I hope for our dealerships sales people, not the "fly ins" from Florida, that we don't get screwed by the mailer company again, because things have been slow and they need to sell some cars.

One funny thing was towards the end of the day yesterday, the "fly ins" from Florida were trying to put some older, probably in his mid 70's, man together and charge him like $3000 over MSRP on a new car. This was not one of those high demand fancy sports cars or anything, it was more like a 4 door economy sedan.

They tried every line in the book, "It's a market adjusted price, it's hard to get vehicles like this here", give me a break "fly ins" from Florida the manufacturer spits out several million of these a year.

Fortunately, for him, he stuck to his guns, and got out of here alive, after two hours of wasted time. It's bad for the dealership when these guys come along and pull that kind of junk, because once this sale is done we've probably lost any shot of having him buy a vehicle from us, because he's going to think we're a high pressure style dealership. We are not high pressure when these "fly ins" are not around.

I'm tellin' ya' if you're buying a new vehicle I'd shop online, you can get much better deals and no haggling. Check out CarsDirect they guarantee the lowest prices on new vehicles and no car dealership sales people to deal with.

In the mean time...

Take care and beware,
J the Car Guy

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Our Big Sale Starts Today

Well our Big Sale begins today! Woo Hoo! All the sales guys have flown in from Florida and Oregon, and as usual they're all real cocky and busy patting themselves on their backs about what a great sale this is going to be...I guess we'll see.

I'm telling you, watch out for these events...Stay Away!!!

I'll post more once they start selling some cars and let you know about the "great" deals people are getting. I hope you were able to sense the sarcasm in the "great" part of that. Read my Car Buying Tip #2 - Stay Away From Car Dealer Big Sales Events for more info.

In the mean time...

Take care and beware,
J the Car Guy

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No Credit or Bad Credit?

Just had a 20 yr old customer come in with $2500 down and a 2 yr job with a decent income. Now had he been a "ghost" (a totally blank credit file) like he thought he was I probably could have gotten him approved with a decent APR on the car he wanted.

It turns out he wasn't a "ghost", and had three small collections. This changed everything for me and getting him approved. He had no positive credit to counter his negative credit, and this shows a bank that for someone so new to the credit game he's certainly heading down the wrong path. My list of lenders that will approve him has now shrunk from about 7 to 3, and those three don't have very good terms.

Because he obviously hadn't visited my site and taken my advice to know his credit score before hand, he left out in a car that was nowhere near the quality of car he was originally looking at, and had to go through a bank that charges a 24.99% APR. His finance charges were almost as much as he was financing for the car. That's crazy!

Moral of this story, know your credit score. Go to MyFico Fico Scores/Reports and know what your score is prior to going to dealership. This way you can maybe try to clean the little stuff up before buying. I the long haul this could save you thousands in finance charges.

In the mean time...

Take care and beware,
J the Car Guy

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$12,000 negative equity

Wow! Just had a customer in the dealership that owes $22,000 on a $10,000 car. Apparently he didn't come to this site prior to purchasing. When he bought the car (at another dealership) and asked how long he had to make payments, the dealer should of told him until it's paid for, because he's going to own that thing until he makes his last payment.

Poor guy! I actually do feel bad for him, because he's got another kid on the way and needs a larger vehicle.

The difference between people like you reading this and him, is education. Had he educated himself prior to buying that vehicle he wouldn't be in anywhere near as bad a situation as he is now. I wonder if he bought at one of those big liquidation car dealer sales events that I'm so fond of! Read Car Buying Tip #2 - Stay Away From Car Dealer Big Sales Events, for more info.
In the mean time...

Take care and beware,
J the Car Guy

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First post - What it's about

Well, this is my first entry of, hopefully, many to come. I'll be using this Blog to share information with you in, pretty close to, real time during Big Sales Events we have here at my dealership and hopefully impress upon you the "worthlessness" of these sales.

I'll also share stories of interest regarding customers negotiating tactics, what worked, what didn't, bad credit examples and whatever else of interest comes along on a daily basis. I say daily, but if there is nothing of interest on particular day I won't be posting, but will still respond to questions. I hope this site is educational and you're able to alleviate a lot of the stress, along with saving you a bunch of time and money, when buying your next vehicle.

In the mean time...

Take care and beware,
J the Car Guy

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