Professional Community for Automotive Marketers, Car Dealers, OEM and Suppliers
This is what I want you to change: Stop waiting for and chasing ups!
Waiting for ups is a losing game. If your goal is to earn $100,000 a year selling cars, your selling habits have to change to make that possible.
What do you have to change? As the saying goes, just about everything. I guarantee you, however, if you do the payoff will be significant – for you and the dealership employing you!
The bad math of ups selling
Earning $100K or more a year selling cars these days is entirely possible. Didn’t you become a car sales professional because you wanted to control your destiny and get well paid for the effort?
Well, let me ask you, how’s that plan going for you?
How many units do most sales associates sell these days, six to eight a month? Considering today’s mini commissions on new car sales and tighter margins on used units, only an unmarried person living rent-free with mom and dad can make it long term selling just six to eight units a month.
Here’s the math. A typical new-car mini commission of $100 times eight new car sales a month equals $800. Even if half those sales were used units with commissions of $800 per vehicle plus four-new sales with $100 minis, the total monthly commission check would be $3,600 (minus any shared F&I). Better for sure, but you didn’t get into car sales to earn just $43K a year did you?
A better formula
If you want to earn $100K a year and really enjoy selling cars for a living, here’s how I suggest you change your selling process.
My final suggestion is valid whether you take me up on my challenge or chose to pursue your status quo, and it is this:
Maximize every minute of your day on the job. To earn $100,000 selling cars eight hours a day, five days a week, recognize that your time value is 92 cents or so a minute. How you go about maximizing the potential of those 2,400 minutes a week is up to you.
You can fiddle too much of those precious minutes away hoping you’ll get the next up or you can prospect the sales opportunities residing in your database, working customer households and customer referrals, all potential new business for the sales associate who truly wants to earn $100,000 or more a year selling cars.
Do you have the drive, desire, discipline and motivation to make a good living selling cars?