Deal Talk 103 Resale value is paramount
Release Date: 06/29/2017
Resale value can mean thousands either way EV Range is best in the city Cold is anti EV Planning is difficult for an EV Resale value is always part of your cost A seemingly good deal might be the opposite Considered the least Around the clock Can you predict it? What determines the value? How to protect it There are many factors Brand can be big Think it through firstinfo_outline Extended service plans, yes or no
Extended service plan, yes or no Average EV price vs Average vehicle sold More space needed to stop? Assuming good condition Extended service plans are not warranties actually Condition and care tell the story Price plus deductible is the first repair Extended warranties are a question Extended warranty does not add in the trade in value Keeping it? Yes Always from the maker With a warranty fix or trade is never a question Low repair record equals high resaleinfo_outline The keys to negotiating
The keys to Negotiating your deal E Vehicles are not what they appear to be When is it time to say yes? Negotiating is part of every episode Many methods, varied results Knowledge is key Due diligence support Waiting for results Can you do better? Persistence Deal and trade separate if possible Talk when there is a need Offer and facts together You may need to walk No substitute for due diligenceinfo_outline Checking collision coverage and EV Update: Batteries
checking your collision coverage EV Update: batteries Dealers fined for consumer fraud never enough Zero emission electric vehicle story is a lie What makes a battery Car, truck, motorcycle, motor home or boat, Insurance is part of the process Auto collision insurance is just another add on Just because they sound cheap Hundreds of companies, millions of quotes Your driving record isn’t the number one factor Credit is the key Loyalty? Teen dollars Bundling means nothing Where are the discounts? Shop Your insuranceinfo_outline Preparing for the F&I business office
Preparing for the F&I business office Electric Vehicle price difference from gas is HUGE Congress is buying EV stocks and then pushing them Will home owners Ins reflect the electric connections? Think and make a pro vs con list F&I as a conversation Business office money Myriad of products Every product can appeal to someone Reserve commissions can be huge Be prepared, due diligence Payment packing is real How to guard F&I Menu approach Review you payment in the business office first 90 day bump Listen to the products info, it might be good for you Shop the F&I products before...info_outline What to do if your deal runs into dishonest or ethical issues
What to do when your deal runs into dishonest or ethical issues Electric sales are not booming Shipping charges are crazy high and the value is crazy low If your deal has a problem Factory problems must follow a plan Due diligence, due process Follow the Chain of command Salesperson, Manager, Dealer principal or GM Manufacturer (Company.com) and the bank Better business (BBB.org) Attorney general (your state.gov/attorney general) FTC (federal) UDAP statutes will help Attorney last Assertive and persistent, not aggressiveinfo_outline How to Avoid crazy ads in a crazy market
Best model articles Best Brand tells the real story Best used are the best resale Automotive ads explained Brand choice protects resale dollars Crazy ads are even crazier Disclosures that don’t help Radio, TV, newspaper, socials Vague is the norm Bait and switch Crazy trade values Employee pricing Surprises can be thousands Ads indicate character Ethics indicates results It doesn’t get better, it’s a culture Look for dealers that advertise what they offer other than priceinfo_outline The real factory certified preowned story
The Certified preowned story Same credit but different terms Affordability doesn’t matter Dealers will use a rate that helps them nit you Shop the banks first CPO vehicles and value Read all the material for a specific certified unit Check points sound huge Just marketing another way Bank rates with CPO Certified can cost several thousand more Why pay in advance for what might happen Low mileage and a clean car fax The retail book value does not have an add on for certification Certification vs resale value, zero Sometimes the promises lower your guard Certify your own and save...info_outline The pro and con of buying an electric vehicle
The pro and con of electric automobile purchasing EV’s cost many thousands more Resale will be less making the effective cost of ownership is even more Green new deal crazy Reviews and reports on electric Mild hybrid Hybrid Plug in hybrid Total electric The resale facts Cost of ownership 1 Kw = 4 miles average Weight vs distance 32 Kw for 100 miles Kw’s cost between 25 and 50 cents Gas isn’t that much different EV’s are thousands more Convenience has value Price , distance, time, safetyinfo_outline The minus equity, upside down, underwater story
How to handle minus equity, aka upside down, aka underwater New Gas MPG requirements 9000 dollars The electric push Overlooked leasing terms Resale support Under water, minus equity, upside down Why it happens What to do This market’s opportunity Type 1 and type 2 Due diligence Minimizing minus equity Start with the right vehicle Eight tips for the futureinfo_outline
Resale Value is paramount
Upside down and resale value?
Is resale part of the deal?
What seems like a good deal, NOT!
Biggest cost, considered the least
What affects resale?
What are all the factors?
You can control much of it
Part of the due diligence