Serious Dealer? Prove It!
07-06-2009, 11:09 AM
#31
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What percentage of the inventory you sell do you make on a 3 month average than?
Lees than 1%? Serious question.
Pogue: I had a huge party at my place on Friday and left early. As of 3pm we hadn't been informed of what PCNA was doing for July, I checked before I left.
MJones hasn't informed us as to how he gets his info....
Lees than 1%? Serious question.
Pogue: I had a huge party at my place on Friday and left early. As of 3pm we hadn't been informed of what PCNA was doing for July, I checked before I left.
MJones hasn't informed us as to how he gets his info....
Rob, thats a good question for which I dont have an exact answer, in May I delvered 19 cars but in June my rolling average took a hit and I only delivered 9. I have only been in this business since Sept and I sort of told myself I would try it for a year and see how I liked it. Naturally the first handful of months were not big months as I learned about car sales.
07-06-2009, 11:11 AM
#32
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07-06-2009, 12:10 PM
#33
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A guy as smart as you is probably clever enough to figure out that appearances can be deceptive..... but since you bring it up "dishonest" sales people don't deserve much respect.. do they?
07-06-2009, 12:41 PM
#34
Nordschleife Master
oh Jeeeezussss
another dealer or two crying about how tough it is.
how's this. FIND ANOTHER PROFESSION.
for God's sake what is going on here? sorry fellas, no dealer i ever dealt with has called me back to excuse themselves for making too much profit or to offer to refund me some money.
i know what it takes to survive in business. i know one has to roll with the punches in economies.
man up dudes!
another dealer or two crying about how tough it is.
how's this. FIND ANOTHER PROFESSION.
for God's sake what is going on here? sorry fellas, no dealer i ever dealt with has called me back to excuse themselves for making too much profit or to offer to refund me some money.
i know what it takes to survive in business. i know one has to roll with the punches in economies.
man up dudes!
07-06-2009, 01:31 PM
#35
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oh Jeeeezussss
another dealer or two crying about how tough it is.
how's this. FIND ANOTHER PROFESSION.
for God's sake what is going on here? sorry fellas, no dealer i ever dealt with has called me back to excuse themselves for making too much profit or to offer to refund me some money.
i know what it takes to survive in business. i know one has to roll with the punches in economies.
man up dudes!
another dealer or two crying about how tough it is.
how's this. FIND ANOTHER PROFESSION.
for God's sake what is going on here? sorry fellas, no dealer i ever dealt with has called me back to excuse themselves for making too much profit or to offer to refund me some money.
i know what it takes to survive in business. i know one has to roll with the punches in economies.
man up dudes!
07-06-2009, 01:33 PM
#36
Rennlist Member
where did I bring up dishonest sales people?
Personally I dont need to waste time trying to read between the lines on a web forum. You've been very clear in the way you treat and react to sales people. I am not selling you a car now or in the future so there is no reason for me to play your game of trying to figure out what your personality deception is.
07-06-2009, 01:50 PM
#37
Nordschleife Master
I am not complaining about how tuff anything is. I took this gig in Sept just because I wanted to see how the business was. Any day I want I can walk back into my old firm and have my office back, or I can go take my own seat on the COMEX or NYMEX and step back on the trading floor.
well, the same thing that is happening to trading will be happening to vehicle sales. electronic transactions with little human interface. just the wave of the future...
07-06-2009, 02:06 PM
#38
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I think the idea of buying direct would suit Porsche just fine. The price would be fixed and there would be NO discounts. Personally I'd rather have a dealer, thanks.
New cars are a low margin item. I guess it goes back to horses but why is it we don't expect a discount from Sears when we buy appliances, or from Home Depot on Power Tools, yet we do expect to get serious discounts on cars? I saw that Porsche gives a 10 percent margin if sold at retail. Getting ten percent off, is what percentage of the gross margin given away? Wow.
For any of us who are in business, we expect to and indeed must operate at a profit. Why are car dealers exempt from this I wonder?
I read the other thread and I understand the OP's feelings. Is it reasonable to expect someone to quote their best price so we can take it elsewhere? Why bother to respond when it is 99 percent certain that whatever number given, in writing yet, will be used to negotiate an even better price elsewhere? Puts the sales guy in a tough spot doesn't it?
So, sorry for injecting these random thoughts - carry on, but please leave a couple of dealers in business so I can continue to buy these cars I love.
Best,
New cars are a low margin item. I guess it goes back to horses but why is it we don't expect a discount from Sears when we buy appliances, or from Home Depot on Power Tools, yet we do expect to get serious discounts on cars? I saw that Porsche gives a 10 percent margin if sold at retail. Getting ten percent off, is what percentage of the gross margin given away? Wow.
For any of us who are in business, we expect to and indeed must operate at a profit. Why are car dealers exempt from this I wonder?
I read the other thread and I understand the OP's feelings. Is it reasonable to expect someone to quote their best price so we can take it elsewhere? Why bother to respond when it is 99 percent certain that whatever number given, in writing yet, will be used to negotiate an even better price elsewhere? Puts the sales guy in a tough spot doesn't it?
So, sorry for injecting these random thoughts - carry on, but please leave a couple of dealers in business so I can continue to buy these cars I love.
Best,
I do expect a discount from other retailers. Go in with cash, show them the cash, and never pay retail for anything ... TVs, Ovens, etc.
Never pay list ...
JKH
07-06-2009, 02:38 PM
#39
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where did I bring up dishonest sales people?
Personally I dont need to waste time trying to read between the lines on a web forum. You've been very clear in the way you treat and react to sales people. I am not selling you a car now or in the future so there is no reason for me to play your game of trying to figure out what your personality deception is.
Personally I dont need to waste time trying to read between the lines on a web forum. You've been very clear in the way you treat and react to sales people. I am not selling you a car now or in the future so there is no reason for me to play your game of trying to figure out what your personality deception is.
If you think about it a little further, you might discover that, especially on this forum, most Porsches are "bought" and not "sold". So you are correct you won't be "selling" me a car. Incidentally I am very happy to do business through local dealers when and where there is respect for the customer. A mutual meeting of the minds so to speak!
And, if you don't need to waste time reading between the lines on a web forum... what might that indicate about your opinion of web forums and their users?
In my world, a "good trader" will pick up the "nuances" where ever they are to be found.
07-06-2009, 03:22 PM
#40
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i used to pay cash. lately i find i get much BIGGER discount when leasing or financing. there's always back end for the dealer. a large dealer act like loan brokers, they have a cut in it. they WANT u to finance. they know i pay off after one pmt so they get their cut from the bank, not from me.
07-06-2009, 03:44 PM
#41
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Then, thank you for backing off your original assumptions about me.
If you think about it a little further, you might discover that, especially on this forum, most Porsches are "bought" and not "sold". So you are correct you won't be "selling" me a car. Incidentally I am very happy to do business through local dealers when and where there is respect for the customer. A mutual meeting of the minds so to speak!
And, if you don't need to waste time reading between the lines on a web forum... what might that indicate about your opinion of web forums and their users?
In my world, a "good trader" will pick up the "nuances" where ever they are to be found.
If you think about it a little further, you might discover that, especially on this forum, most Porsches are "bought" and not "sold". So you are correct you won't be "selling" me a car. Incidentally I am very happy to do business through local dealers when and where there is respect for the customer. A mutual meeting of the minds so to speak!
And, if you don't need to waste time reading between the lines on a web forum... what might that indicate about your opinion of web forums and their users?
In my world, a "good trader" will pick up the "nuances" where ever they are to be found.
Let me ammend my earlier post... Respectfully...I will not be doing any business with you, its my opinion you and I would not see eye to eye on anything.
07-06-2009, 03:54 PM
#42
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I left the floor in 2004, and I ran a hedge fund under the Goldman Sachs umbrella until April of 2008 when I sold out to my partners. After taking a little over 6 months off and hanging out with my then 2 year old son, under my wife's insistence I walked into the local dealer and discussed my passion and knowledge about the product, and if they would be interested in having me come in a few days a week and sell cars. I have bought and sold a huge number of Porsches prior to doing this and it’s been a win win for both sides. I gave them a year’s time frame where we would both evaluate our objective, so come Sept I'll have a decision to make.
Most of the options floors are electronic these days all over the globe. Places that have single listed products like the comex and nymex and some CME / CBOT products still have very active pits but I would say their time is finite too. I left the door open when I stepped down from my firm and I could go back to that but I am trying to avoid the 60 hour work week. I have always been a car guy and it’s probably a good time to consider an equity stake in a dealer but without a front man who has the experience Porsche would not qualify me for a franchise.
07-06-2009, 05:03 PM
#43
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I left the floor in 2004, and I ran a hedge fund under the Goldman Sachs umbrella until April of 2008 when I sold out to my partners. After taking a little over 6 months off and hanging out with my then 2 year old son, under my wife's insistence I walked into the local dealer and discussed my passion and knowledge about the product, and if they would be interested in having me come in a few days a week and sell cars. I have bought and sold a huge number of Porsches prior to doing this and it’s been a win win for both sides. I gave them a year’s time frame where we would both evaluate our objective, so come Sept I'll have a decision to make.
Most of the options floors are electronic these days all over the globe. Places that have single listed products like the comex and nymex and some CME / CBOT products still have very active pits but I would say their time is finite too. I left the door open when I stepped down from my firm and I could go back to that but I am trying to avoid the 60 hour work week. I have always been a car guy and it’s probably a good time to consider an equity stake in a dealer but without a front man who has the experience Porsche would not qualify me for a franchise.
Most of the options floors are electronic these days all over the globe. Places that have single listed products like the comex and nymex and some CME / CBOT products still have very active pits but I would say their time is finite too. I left the door open when I stepped down from my firm and I could go back to that but I am trying to avoid the 60 hour work week. I have always been a car guy and it’s probably a good time to consider an equity stake in a dealer but without a front man who has the experience Porsche would not qualify me for a franchise.
Some dealers have the right magic. Honest and up front. Had I not found a great dealer, I might have goen back to BMW, but in the end owning a Porsche has been a dream come true. And I bet selling them can be just as satisfying.
07-06-2009, 05:18 PM
#44
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jk, I do really enjoy it, and for the most part my clients appreciate the efforts. It helps a lot that I can look them in the eye and honestly tell them I am not making any commission on the cars, and there is no reason for me to hold back any more gross then management leaves out there.
I have one client who had a 911 in the 1970's and worked his *** off as a coach and Prof at a local U. Now that all of his kids were through school and his wife declined the offer to buy small vacation property for them he was able to come in a realize the dream he kept alive for all those years. One of the nicest people I have met at this position and it was a pleasure to work with him and help him realize his dream.
Like any other business there are good people and bad people, I would not run the business in the exact same way these people do but they must be doing something right since our sales are up year over year and we're now the 11th largest dealer by volume.
I have one client who had a 911 in the 1970's and worked his *** off as a coach and Prof at a local U. Now that all of his kids were through school and his wife declined the offer to buy small vacation property for them he was able to come in a realize the dream he kept alive for all those years. One of the nicest people I have met at this position and it was a pleasure to work with him and help him realize his dream.
Like any other business there are good people and bad people, I would not run the business in the exact same way these people do but they must be doing something right since our sales are up year over year and we're now the 11th largest dealer by volume.
07-06-2009, 05:55 PM
#45
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I left the floor in 2004, and I ran a hedge fund under the Goldman Sachs umbrella until April of 2008 when I sold out to my partners. After taking a little over 6 months off and hanging out with my then 2 year old son, under my wife's insistence I walked into the local dealer and discussed my passion and knowledge about the product, and if they would be interested in having me come in a few days a week and sell cars. I have bought and sold a huge number of Porsches prior to doing this and it’s been a win win for both sides. I gave them a year’s time frame where we would both evaluate our objective, so come Sept I'll have a decision to make.
Most of the options floors are electronic these days all over the globe. Places that have single listed products like the comex and nymex and some CME / CBOT products still have very active pits but I would say their time is finite too. I left the door open when I stepped down from my firm and I could go back to that but I am trying to avoid the 60 hour work week. I have always been a car guy and it’s probably a good time to consider an equity stake in a dealer but without a front man who has the experience Porsche would not qualify me for a franchise.
Most of the options floors are electronic these days all over the globe. Places that have single listed products like the comex and nymex and some CME / CBOT products still have very active pits but I would say their time is finite too. I left the door open when I stepped down from my firm and I could go back to that but I am trying to avoid the 60 hour work week. I have always been a car guy and it’s probably a good time to consider an equity stake in a dealer but without a front man who has the experience Porsche would not qualify me for a franchise.
Funny, very similar story here. I started in September too. I'm part owner of a biotech Ag company and the sole owner of a catering business. Things were slow last year and I was in the process of buying my Touareg. That's when I decided to give it a shot.