Recently a customer came by our store and, in idle conversation, asked, “Why is car buying so difficult?” I understand why she said that, because it can be very challenging, not to mention a bit scary and can be as equally frustrating for both a customer and the dealer. As an insider, let me explain why.
There are three main components to buying a car: price, trade in and financing. Today I’ll review price.
Are You a Frustrated Buyer?
Price should be the easiest part of the car buying process. When a customer researches & test drives a car, truck, SUV or crossover and gets quotes from multiple dealerships, they should compare apples to apples. Meaning that you want to make sure you’re comparing the same vehicle with the same equipment and options. A simple way to do this is to make sure the MSRP’s are the same.
As a salesperson, the hardest question to answer for a customer is “what’s your best price?” When asked that question, I’ve told my sales people to show customers the invoice. This shows what the dealer paid on that car. Most good dealerships will gladly show you the invoice so you see in black & white where their numbers are coming from. You should calculate in any rebates, as well as a small profit, which all dealers are entitled to make. It’s that easy.
Here, check out this video..the audio isn’t Grammy quality, but you can still learn a lot from it
Has your experience been that the price is the most difficult part of the car buying process? Share your experience here and check back for part two: trading in your vehicle. Of course, if you want to talk in person, just swing by and I’ll make it the easiest experience you’ve ever had.