Used Car Buyers – How To Make Dealers Bid For Your Business
If you are to put a used car salesman in the same room as an insurance salesman to sell a neutral product, the former would wipe the floor with the latter. Some of the most assertive salespeople sell cars for a living. It’s not much to do with sales training. But have a lot to do with the natural audacity their personalities embrace.
Buying a car is one of the most exciting events to experience especially when you are a first time car buyer. But the experience is not often as pleasant when dealing with a professional salesman at the dealer’s store front. The really good salespeople can even make you walk out of a salesroom smiling from ear to ear when you’ve just been fleeced.
This could be a reason why many people still prefer to buy new vehicles from an official distributor directly. Because you don’t know what sort of deals you will be walking into when dealing with used car dealers. Even worst, you might even end up with an end product that is not what you expected.
I remember an experience when I was upsold continuously when all I really needed with a simple transport vehicle. I was then “forced” to take on a car loan which I learned later was overpriced. And the freebies I got from the deal was just visors for the windscreens and a cool looking short antenna.
This is why I’ve always been on the lookout for the opportunity to seek redemption. And the follow strategy was what worked. Dealers were literally banging my phone with lower and lower prices.
How this concept was discovered
When I was selling the car I mentioned earlier, a made quite a few phone calls to dealers to find the best price. And I was surprised at how competitive this market is for dealers to acquire more inventory.
From the 11 dealers I’ve contacted, 7 made an immediate offer. 3 of which volunteered to visit me on the same day to evaluate the vehicle. If this wasn’t enough evidence of how competitive this market is, what happened next will settle any argument.
Because the first concrete offer I received came from one of the dealers who came down to my house to assess the vehicle. And he wanted to buy it immediately without even test driving it. I must admit that my vehicle was in great condition and with very low mileage. And of course I did not take that offer immediately. I wanted to see what the other dealers would offer.
I did eventually sell that car at what I felt was a good price. But that’s not the issue here. What I realized was how badly each representative wanted to beat the competition. Almost all of them asked which of the competitors are interested as well.
So I took this concept into buying the next car.
Putting out the offer
What I did was to collate 10 used car dealers which I felt had the model which I wanted. I made this judgement from viewing their ads online and the local newspapers. I couldn’t see myself spending hours talking to all of them. It would just become a never ending sales pitch. So I just called them up to ask for the mobile number of the guy in charge. And hung up.
My strategy was to blast out an SMS to all the decision makers. This would save time with little effort. The great thing about used car dealers is that they are usually small sized enterprises. This means that you can often reach the key guy if you just ask.
The next step is to write the message. I kept it brief. You can write something like:
“I’m looking for a Honda Jazz 1.3. It needs to have XYZ. I’m willing to commit a down payment of $1000. And ideally, I would like to close and drive it away on Friday afternoon. I’m trying to find the best deal in the market from a few dealers. And will buy from you if you can offer the best deal.”
I blasted out my message to all 10 of the dealmakers. 6 replied, 4 quoted a price, and 3 of which went into an all out bidding war.
It was refreshing to have this type of leverage over the sales sharks. It was quite a fun experience as well. And I actually think that they enjoy the thrill of the chase too.
If you do want to give my sick tactic a try, do keep some of these things in mind.
- Don’t be arrogant
- Treat everyone with respect
- Talk to them like a friend
- Keep them in the loop even when you have decided to buy from someone else
- Be a man of your words
- Have a target in mind
- Know your numbers
- Don’t be too greedy