Cons: Sooooo. Fucking. Expensive. No one has one. Maintenance will require organ donation and / or kidnapping a Saudi prince. Unless you have 10 years worth of networking, experience, and loyal customers (who are incredibly loyal and fickle) you can expect to sell 4 a month and starve to death in a very expensive suit and tie – high price does not equal high profit. The only people making money selling Jaguars are Jaguar dealerships and guys who have been doing it for 20 years.
Out of all the steps to buying a used car, the one-on-one negotiation is the most daunting! You need to use all of the available information to your advantage to drive the price down. Before you begin negotiating, invest the time to do all of the research we recommend. Since there is so much to learn about negotiating, we have written a full page of advice for you.
My dealership, Friendly Chevrolet in Fridley, MN, has been the No.1 Chevy dealer in our district for 16 years running. We leverage digital marketing. It has helped boost monthly sales by an average of 10 to 15 vehicles. That is more than 10% of our sales volume.
You should also be able to identify with customers’ desires, interests, lifestyles, and financial status. This will enable you to know exactly the kind of cars they would love and be able to effectively sell it to them.
Managing all the review sites your dealership appears on can be a serious process, but if you cultivate your online reputation properly you can, in essence, grow the size of your market. Because, “Car buyers are willing to drive farther to reach dealerships with positive online reviews—24 percent said they would drive 30 miles to a dealer with positive reviews, 15 percent said they would drive as far as 40 miles, while nearly one-third (31 percent) said they would drive 50 miles or more.”4If 70 percent of online car buyers are willing to drive 30 miles or more for a dealership with good online reviews, how many customers do you think you could gain from a positive online reputation? How many do you think you would lose with a bad one?
You’re doing everything right, please don’t stop. You’re what we call an “educated consumer” and your deals are the easiest. Just be aware that with used cars, things change very quickly and there is no standard of care from one car to the other. It’s hit or miss, but the odds are definitely in your favor.
However, that’s not the whole story. There’s a vast discrepancy between great salespeople (who sell 20+ cars a month) and bad salespeople (who might struggle to sell 8 cars in a month). A salesperson who moves 20 cars a month is probably going to earn $6-$8k, while a salesperson who can only move 8 cars a month is likely to earn minimum wage.
Trust will play a larger role this year. Dealers are tired of being told they simply need more education. Dealers want to trust the they’re using will deliver the results they’re seeking. And if they can’t, vendors have to be transparent enough to own this fact. Yes, it’s a difficult thing to do, but it’s also the right thing to do for the dealer.
Friend or salesperson?: Often people go to someone they know to buy their car because they think they will get “hooked up” with a sweet deal. But just stop a second and think, if a sales person “hooked up” everyone they knew with great deals, the dealers wouldn’t be making the money they wanted to make. So the sales manager always wants to know from the sales person two things. First, “Do you know these people?” followed quickly by, “How much can you get them for?”
This piece can be designed manufacturer specific, complete with an attached embossed personalized credit card. This piece will target a specific range of beacon scores that you wish to target. (i.e. 580-650). This allows you to target the customers in your market that most dealers skip right over.
Outsell is the first company to bring Machine Learning to the automotive market. Our NeuroMotics® Brain is at the core of everything we offer, predicting consumer behavior, powering targeted communications, precisely identifying in-market buyers, and enhancing your dealership’s bottom line.