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What is the most valuable resource a car salesman has? Time. She/he can’t make more of it and any time spent on something that likely won’t bring them a deal ha
by shartshooter 8y ago
What is the most valuable resource a car salesman has? Time. She/he can’t make more of it and any time spent on something that likely won’t bring them a deal has a huge opportunity cost.
Knowing that, the most effective way to get the lowest possible price is to spend as much time with a salesperson as possible. Test drive every model, have them dig up odd questions and get them convinced that you’re going to buy. After all, a serious buyer would never take so much time if they weren’t serious.
The sales rep will see all the other potential buyers coming into the lot getting help from his competing reps. This isn’t a big deal if she/he is convinced you’ll buy.
After spending all day, walk away. And do it at the absolute last minute. The sales rep and their boss will do everything they can to get you locked in because 1) they were already set on you buying and 2) they burned a huge amount of time helping you and missing out on other buyers. They’re too mentally invested in seeing you buy.
There’s no guarantee you’ll get something at cost or at a loss but you’ll put the power in your hands and be working with someone who’s as invested in buying as you are.
The idea that you can email your way to the lowest price is far less effective. The amount of time it takes for a car salesperson to reastart one to an email is trivial compared to burning an entire day test driving vehicles with you.
- jghn 8y agoyour time also has value. Spending a whole day to get a lower cost might not save as much money as it seems
- twothamendment 8y agoSometimes it is worth it. I spent 2 days to buy a truck. I flew to another state and drove it home. It mostly went according to plan except the leaky power steering hose that I spotted the first minute I looked at it - and then spent the next 5 hours waiting for them to fix it. I wish I could trade more weekends for $5,000.
- blattimwind 8y ago> except the leaky power steering hose Great QA right off the bat.
- shartshooter 8y agoagreed completely, the point was to explain how to get the lowest price out of a car dealer, not necessarily to maximize value. some folks prioritize the former or feel like they have time to burn