Professional Community for Automotive Marketers, Car Dealers, OEM and Suppliers
Sadly, if they DO leave with your numbers, you probably just gave a deal to another store. This logic is 100% counterpoint to all the BS focus groups and expert vendor advisors, but the reality is unless your business model is pure volume, buyers only want a price so they can beat it. It doesn't matter how FAIR it is to them or you.
Even in negotiations, if you give a buyer your 'best price', what's the first thing they do? Start working you from there. Feel free to PM me for more discussion.
Interactive Media Manager / Industry Analyst
24/7 Interactive Automotive Dealer Website Chat Solutions
Hosted or In-House Options
incorrect. The more open you are with your numbers and whole process the more your clients trust you. People do business with people they trust. Why else would we worry about chat services? to build trust right?
agree to disagree - I live in a market where autonation pioneered 'fair price' / one price selling. and they quickly abandoned it. I know that I have made many deals because someone quoted $1k margin on a $30k car - and we offered to beat it, then made the deal. maybe with a Japanese or domestic brand there is enough back-end profit to sell every car at triple net invoice, but in a luxury brand with no holdback or hidden dealer incentives, you need to retain some gross - and sales people like to make a buck or two if you want them to last longer than a 90 day guarantee.
I had an admittedly old school car dog teach once that 'they aren't coming back'. You can build value until you are blue in the face, and show logic and data (kbb, manheim, etc) until your screen melts, and they will still search for a better deal. maybe because my paradigm is luxury brands with buyers who have more purchasing experience, I don't know.
Well said Tom....my personal email is email@example.com
Thats Old school thinking. Give give give. If they dont get numbers from you they WILL get them somewhere else. The only reason you wouldnt give numbers is because you either dont believe the deal is good for the customer yourself and are afraid they will figure it out, or you know the deal isnt good. Numbers are a part of the TOTAL experience your customer gets. Why would you want to short change yourself or the customer of receiving the Total experience. the WHY on why they should buy from you. Unless you are in the dealership down the road from me, just disregard and keep doing what you are doing, Im enjoying the business....lol
"millennial" buyers see cars as commodities as opposed to there older "boomer" counter parts who view cars reflections of their status. They no how to use technology to not only get your number but the number down the street and the number to your pin to access your bank account. It will boil down to who made the information the easiest to access and provided a faster friendlier service which allows them to get on with "their" lives. They value the time they spend doing anything and the faster you can get them back to "their" lives the more they will appreciate and value your service. It flies in the face of convention thought but the age of information is changing entire societies overnight. why would we think that our industry would be immune? Eventually change is inevitable the question is are you going to be ahead of the curve or catching up to it?
you have to give them a 'number' they are happy with - which is only as high as the dealer willing to whore out their product - and staff.
millennials may see cars as commodities, but only until they can't figure out their navi system or program their seats, then they want a trained professional to help them. trained professionals cost money that they often aren't willing to pay. they want champagne service on their beer budget. when you quote them a VERY FAIR California wine price, they still look for a lower price
interestingly, big box stores get around this with price matching - except - none of the products are the same from store to store. each store brand (sears, best buy, etc) typically gets a different model series.
You have to give them a number; you have no choice. If you don't, you'll never see them again. Give them your best shot. Another may try to beat it but they will remember how you treated them and how open you were with them. They may or may not come back, but if they do, you've got a buyer.