How to Buy Your Next Car With This Transparent Advice (PART 2)
Once you had the “on the road” experience, you will return to the dealership.
Your sales professional might ask you questions just to gauge how you feel about the car.
Questions are important to the sales people because you answering them help us help you to the best of the ability.
So, if you love it, say so. If you aren’t enthralled, that’s okay!! Just do the best of your ability to express why.
Back at the Sales Professional’s desk, usually this is where people tend to clam up again.
And guess what. It’s okay to be nervous. You’re about to make a BIG decision!
If you have a trigger that will make or break the deal: Just say so.
Maybe you want X for your trade, maybe someone else gave you x, maybe you want 0%, maybe you have a magical number in mind for your monthly payment. Just say so!
Note: It is really not like it used to be. There is not a huge markup anymore.
We don’t have secret hidden money.
As far as trade value: if you used KBB or one of those online tools, I promise you KBB has never ever written out an actual check for the value they estimate.
These tools are good guides, but they do not account for seasonality, geography, or other indicators of fair market value. We will do our best to make you happy, but we can’t burn the candle at both ends.
I will say again: Making you happy is literally our job. When your happy, everyone’s happy.
So the sales professional will ask you if you want to buy or lease,
how much you plan to put down,
if you want to trade your car.
Now if there is a payoff balance on your vehicle,
the sales professional will call to get that exact balance so we can figure your actual payments
that there will not be any surprises.
Back to the “Wizard Behind the Curtain” (who will come introduce himself and thank you for giving us a chance to earn your business)
The sales professional will then go to their sales manager armed with all of this information.
If you told them you wanted to lease,
they figure out all the rebates that you might qualify for.
If there is a trade they will figure that into the equation, as well as the payoff/equity of the trade/money down.
If you want to finance,
you would have indicated how for how long,
and with whatever incentives are available the sales manager would punch in the equation.
This is not a secret algorithm. It’s just math.
On a finance, the biggest variable is the finance rate.
The manufacturers that have their own financial institutions advertise special rates everywhere.
Sometimes there is 0% or 1.9%.
But, ultimately, rates are reliant on your credit score and determined by the banks.
The bank is the actual determinant of this variable.
Your sales professional comes back and clearly explains the monthly payment figures, which include the breakdown of that math.
This is why communication with your sales professional is so important, because if you both did a good job asking questions and answering each others questions, then literally it can be that simple.
Maybe the trade was a little less than you expected, but the sales professional explained that your car does need tires, the bumper is dinged and it has a lot of miles.
Maybe your payment is higher than you expected, but admittedly you are rolling in some negative equity from your current car.
But it really can be just that easy. Just like that.
So at that point, you give the “YES!” and you and your sales professional high five or fist bump or both.
Your sales professional will go and get what is usually called a “deal jacket” to keep the paper files organized.
You will fill out the finance application, they will fill out the purchase order, which will be signed by manager and yourself.
If needed, they will get the payoff form executed.
They will get your insurance card copied so they can help you get that switched over.
Because confidentiality is so important, your sales professional will not have any idea what you put on your finance application, but will introduce you to the business manager to talk over finance and insurance options.
They will ask you a few questions and make sure they have all the accurate and current information that they need.
They will then take the deal jacket and they will go and submit it to the bank.
The sales professional will go and they will bring the car to be filled with gas for you.
The sales professional will then bring your vehicle to cleanup where it will be detailed in and out.
The Finance Office with the Business Manager, Often Described as “Taking Delivery”
By this time you might already be in with the business manager and signing the contracts.
They will offer you warranties and other add on plans that they are required by law to present to you.
You have the absolute choice to take these offers or not to take the offer.
But I will encourage you to. Check out the post I wrote on how to best protect your financial investment.
And once you signed up and got all the legalities out of the way, you will be greeted once again by your sales professional.
You might be tired. You might feel a little emotionally drained by you are most certainly excited!
Your sales professional will want to go over the vehicle with you,
pair your phone, set your preferred music stations,
make sure you didn’t leave your garage door opener or any cd’s in your old car.
You will probably only retain approx 35% of this lesson because you are on info overwhelm,
but your sales professional will invite you back ANYTIME
for another lesson.
Do not feel silly for going back for another lesson.
We encourage it, and we want you to know all of the features of your car because you deserve to!!
And off you go. Happily, maybe tired, but you will smell the new car scent all the way home.