Jake’s decision between a BMW and a Porsche
I brought my first B M W, here is the story,
I wanted to own sports car, I was trying to make my decision between a BMW and a Porsche.
It took me months to make my decision, my co- worker a lady wanted to buy a Porsche, At that time this is early 1980s, i was a salesperson for Toyota Dealer, So, I had to visit the BMW Dealer, I wanted A Red Fully Loaded with absolute no miles on the odometer, though there are no such thing as no miles on ode-meter, Every New car can have miles any where from 1 to thousands.
This because most cars been driven by costumers as test drive (demo) or salesperson use as Demo. (later on Dealer sells this cars as Demo on reduced price, although Warranty remains, Financing cost remains the same as new car visits.
The BMW I brought had 3 miles, This car was not driven by any salesman (this 3 mile came from BMW Factory to the ship, then from to port to truck then to BMW car dealer).
I knew the Sales Manager, I went to him and told him, I want buy this particular car. There was none on lot (Inventory), So, I had to wait and I tried to negotiate, The Manager wanted above sticker Price because there was only 1 such a car at that time on the dear ship.
When this car arrived I went dealer and got a deal $500 above invoice Price. (Usually Car Dealer never sell a hot car such a low price) Most of the time they sell thousands above sticker price.
Jake’s Personal Selling Experience.
- I sold a Fully loaded Ford Taurus to an East Indian couple $1325 below dealer Invoice.
- I sold a Used Cadillac to a senior person, Lets us call him Mr. Campbell,(not real name) who happened d to be A Truck Driver over 30 years on the same job for the City. He said, he went many dealer trying to buy a Used Cadillac, but No one want sell him a car, The reason is most salesperson try to pre-qualify him for the car financing. This person had no credit history or never financed a vehicle on his own name or not much money for down payment.
I sold him his dream Cadillac, I had to work little extra hard. I had to convince the finance manager that this person is working for the city (Government job) and has no negative credit report. He has enough income to make the car payment each month.
The down payment he had was enough to pay Tax, Title and other Fees. He came with his wife to pick up his Dream Cadillac, and I saw smile on his face and he tanked me Mr. Jacobs, and told me, He (Mr.Campbell) been driving over 30 years for the city and wanted a Cadillac for his wife. Not only I made his family happy, I made a decent commission (usually sales person are paid on the commission on the profit dealer makes). It took few extra days than usual car sales.
- I sold a late Model Sports Car to a teenager, He came to me and find the Used Car he liked with minimum down payment I got him financed, without a co-signer and drove off his car and was very happy.
- I sold another customer an African Lady who was in her early 20s just got out of college and trying to buy a car First Time without any credit or co-signer. I had to convince the Finance Manager that she needed a car and she needs it for work (She just got hired on her new job) After few days later she drove off her New Nissan.
- Here what happens is when a customer complete an application, Dealer, Finance Manager send the credit application to different financial institution’s. Some time Dealer has tie up with Banks and the Dealer kiss the paper. Most of the time it’s easy to get financed, if the Dear kiss the paper.
- Is there Discrimination? Woman, Minorities, African Americans pay more than White Man. Of-Course, It boils down to knowledge, knowledge, All have to do their home work and negotiate.