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This may be one of the dumbest arguments I have ever seen on an automotive forum. I spent a lifetime in dealerships just hoping to get an offer,,,any offer! That is what you do in the retail automotive business IN CASE YOU DIDN'T KNOW and you can't possibly sell anything until someone makes a legitimate offer. Legitimate meaning they will actually perform...not necessarily the right amount.
That does not mean that as a sales manager you might not do a Playhouse 90 and act as if though the customer has totally offended you with a "low-ball" offer. But, without that offer you are just sitting around twidling your thumbs MAKING NO MONEY. In this case, the customer gets spooky, goes home and posts on a forum. Is he a real buyer...probably not! He did though get 10 pages of responses alternating between calling the sales manager an idiot and maligning the OP! What a load of BS!
You will know what a low ball offer is when you try to sell a house. Always some guy that wants 20-30% off.
The problem with market value with cars like the C7 is that it changes quickly especially the more expensive C7s. I'm not worried about them, they probably bought it from some poor guy for about $60k stating it is a tough sell in the winter.
This may be one of the dumbest arguments I have ever seen on an automotive forum. I spent a lifetime in dealerships just hoping to get an offer,,,any offer! That is what you do in the retail automotive business IN CASE YOU DIDN'T KNOW and you can't possibly sell anything until someone makes a legitimate offer. Legitimate meaning they will actually perform...not necessarily the right amount.
That does not mean that as a sales manager you might not do a Playhouse 90 and act as if though the customer has totally offended you with a "low-ball" offer. But, without that offer you are just sitting around twidling your thumbs MAKING NO MONEY. In this case, the customer gets spooky, goes home and posts on a forum. Is he a real buyer...probably not! He did though get 10 pages of responses alternating between calling the sales manager an idiot and maligning the OP! What a load of BS!
OP made an lowball offer. Dealer declined and then later countered. OP countered back and they were $500 apart and OP and dealer moved on. Over $500 on a car that stickered for over $100K!!!
At some point you also have to factor in your time and spending hours if not days chasing the lowest deal will cost you time and money.
OP made an lowball offer. Dealer declined and then later countered. OP countered back and they were $500 apart and OP and dealer moved on. Over $500 on a car that stickered for over $100K!!!
At some point you also have to factor in your time and spending hours if not days chasing the lowest deal will cost you time and money.
For $500 on a $60,000+ car, he was not a real buyer for that unit.
I can though tell people who really think the OP's offer was a low-ball, there could be a bright future in car sales if you can set values that close without being in the business!
Based on the way the sales manager over-reacted, i would also have let it go for $500. If the guys was nice... and counter offered right away, then there might have been a deal... $500 is not much for any serious buyer and they usually make it up with bullshit fees and Nitrogen in the tires, the expensive Nitrogen!
Lesson#1 never let a customer LEAVE, good chance you may never see him again.
You will know what a low ball offer is when you try to sell a house. Always some guy that wants 20-30% off.
The problem with market value with cars like the C7 is that it changes quickly especially the more expensive C7s. I'm not worried about them, they probably bought it from some poor guy for about $60k stating it is a tough sell in the winter.
Or, they may have bought it for less! Oh the horror! As jallen sez: doing a little Playhouse 90 acting about time of year, slow sales, etc.
The only rational way to price is based upon comp sales regardless of the commodity. Based upon that the dealer priced it under market, and decided to stick close to that price.
There will always be outlier data points, and over time the comp price may well change, but right now, it is what it is.
The only rational way to price is based upon comp sales regardless of the commodity. Based upon that the dealer priced it under market, and decided to stick close to that price.
There will always be outlier data points, and over time the comp price may well change, but right now, it is what it is.
You would be right on the money if you were selling a commodity where dozens of identical items were sold in the same neighborhood. That does not happen with cars and especially not with Corvettes. There is too much variance in mileage, color, options, transmissions, condition, and 100 other things. Locations within the same state will even come into play.
In addition to the physical differences there is also the mental mind set of the dealer with the car. In the case of a Corvette, there are those who want it gone tomorrow because of the potential liabilities attached and others who will hold for a long time hoping to hit the proverbial "home run".
Don't ever fall into the trap that Bankers often do. They have access to price guides and even sometimes auction reports. They actually begin to think they understand the market while making their five grand a month and the real used car managers are making six figures annually. If it were all so easy, I could have saved a lot of money by hiring a high school kids who read well to appraise and value my cars.
If I'm reading this right, OP still wouldn't take the car when they were within $500. In other words, we had all this drama that was a waste of time, all originally because the sales manager was mean to this guy.
If I'm reading this right, OP still wouldn't take the car when they were within $500. In other words, we had all this drama that was a waste of time, all originally because the sales manager was mean to this guy.
I do not believe they ever got within $500. Not close.
You would be right on the money if you were selling a commodity where dozens of identical items were sold in the same neighborhood. That does not happen with cars and especially not with Corvettes. There is too much variance in mileage, color, options, transmissions, condition, and 100 other things. Locations within the same state will even come into play.
In addition to the physical differences there is also the mental mind set of the dealer with the car. In the case of a Corvette, there are those who want it gone tomorrow because of the potential liabilities attached and others who will hold for a long time hoping to hit the proverbial "home run".
Don't ever fall into the trap that Bankers often do. They have access to price guides and even sometimes auction reports. They actually begin to think they understand the market while making their five grand a month and the real used car managers are making six figures annually. If it were all so easy, I could have saved a lot of money by hiring a high school kids who read well to appraise and value my cars.
You would be right on the money if you were selling a commodity where dozens of identical items were sold in the same neighborhood. That does not happen with cars and especially not with Corvettes. There is too much variance in mileage, color, options, transmissions, condition, and 100 other things. Locations within the same state will even come into play.
In addition to the physical differences there is also the mental mind set of the dealer with the car. In the case of a Corvette, there are those who want it gone tomorrow because of the potential liabilities attached and others who will hold for a long time hoping to hit the proverbial "home run".
Don't ever fall into the trap that Bankers often do. They have access to price guides and even sometimes auction reports. They actually begin to think they understand the market while making their five grand a month and the real used car managers are making six figures annually. If it were all so easy, I could have saved a lot of money by hiring a high school kids who read well to appraise and value my cars.
OK, but it appears the best available data was utilized. Dealer decided to hold on for what the numbers suggest is a fair value. The data utilized was independently confirmed by several on this thread, and the dealer asking price was indeed under current estimated "market value." I'm not suggesting it's rocket science, but it is rational.
It was the dealer's right to hold close to what was considered to be a fair price. The dealer may win or lose his/her bet. Its a simple as that and end of story.
OK, but it appears the best available data was utilized. Dealer decided to hold on for what he believed was a fair value. The data utilized was independently confirmed by several on this thread, and the dealer asking price was indeed under current estimated "market value." I'm not suggesting it's rocket science, but it is rational.
It was his right to hold close to what he considered to be a fair price. He may win or lose his/her bet. Its a simple as that and end of story.
Hey, COF folks, Foosh just called it! Nothing more to see here....
OK, but it appears the best available data was utilized. Dealer decided to hold on for what the numbers suggest is a fair value. The data utilized was independently confirmed by several on this thread, and the dealer asking price was indeed under current estimated "market value." I'm not suggesting it's rocket science, but it is rational.
It was the dealer's right to hold close to what was considered to be a fair price. The dealer may win or lose his/her bet. Its a simple as that and end of story.
Well said!
One post script.
When it's yours or you are a Seller, it's the best car in world and worth far more than any silly book or market says it's worth.
When you are a Buyer, same car is an over-priced piece of crap not worth the space it takes up.
Amazing.
Marty
Dealerships are pricing their vehicles base on demographic area along with supply and demand. Yes I have money on hands and ready to purchase.
Knowing that we are only $500 away from closing the deal, and yes I could cough up extra $500, but by no means this would teach the dealership a lesson.
I absolutely do not want to convey a message despite their negative customer service and still make the deal.
Dealerships are pricing their vehicles base on demographic area along with supply and demand. Yes I have money on hands and ready to purchase.
Knowing that we are only $500 away from closing the deal, and yes I could cough up extra $500, but by no means this would teach the dealership a lesson.
I absolutely do not want to convey a message despite their negative customer service and still make the deal.
Trust me, a person trying to buy one of what the other guy already owns dozens of is not in the position of "teaching". If you actually want the car and feel the price is good, you are only hurting yourself at this point.
Trust me, a person trying to buy one of what the other guy already owns dozens of is not in the position of "teaching". If you actually want the car and feel the price is good, you are only hurting yourself at this point.
01-05-2018, 03:30 PM
Or, they may have bought it for less! Oh the horror! As jallen sez: doing a little Playhouse 90 acting about time of year, slow sales, etc. 
