The Car Buying Process
What are three third party sites dealers like to advertise on?
NADA - What is it?
The National Automobile Dealers Association (NADA) is an American trade organization representing nearly 16,500 franchised new car and truck dealerships, both domestic and foreign.
What are the three most common ways most people buy cars
loan thru a bank
lease
cash
Where do the majority of clicks and conversions usually go to on a typical new car ad campaign?
New Car Specials or the New Car Inventory
What department makes the most money? (hint- fixed)
Service
Name 3 popular CMS's auto dealers.
DealerOn, Dealer.com, Fusion, Dealer Inspire,Dealer Fire, Naked Lime, Dealer E Process, CDK, AutoRevo, FusionZone
What's the #1 selling car in America?
the Ford F-Series lineup of light-duty and heavy-duty trucks
What does SRP and VDP mean?
Search Results Page
Vehicle Details Page
If you do not want to negotiate the price of the vehicle what website can you go to to do the entire thing online?
Carvana or DriveTime
What do delaers call the interface that allows a person to buy a car on their site?
Digital Retailing Tool
What is a buy-sell?
When a dealership is being acquired, sold or bought - AKA a real estate transaction to buy or sell the business and all of its assets.
The tax credit ended on Sept 30, so there will be a lot of EVs in the market for us to sell!
Why do disclaimers HAVE to be on most new car specials?
Because so many dealers have tried to "trick" the sales system and sell cars too low under MSRP
What are examples of dealer add-ons?
Tire and Wheel Warranty
Extended Warranty
Service Plans
How do you get a carfax for free?
Shop with a branded dealer or a dealer that pays for carfax (about 90% of dealers pay for it)
Who is the main person in charge at a dealership?
General Manager
Owner
Dealer Principal
What brand sells the most cars in the US?
Toyota
What is a VIN number and why is it important?
Vehicle Identificiation Number, unique identifies the vehicle
Where can you go to get estimates on the vehicle?
What is Kelley Blue Book or KBB
What is Trim?
Car trims are different versions of a model, each with varying features and equipment, helping buyers differentiate models. Higher trims offer more features.
What is an RO?
Repair Order
What is the 2nd highest selling EV after Tesla's Model 3 and Model Y?
The best competitors on the market are the Hyundai Ionic5/Kia EV6 twins, and the Ford Mustang Mach E.
What do lemon laws protect?
If the manufacturer fails to conform the vehicle to the warranty after a “reasonable number of attempts” to repair these defects, the law requires the manufacturer to buy back the vehicle and give the consumer a purchase price refund or a replacement vehicle.
Used Vehicles - Unless it is rare or there is a big payout from the manufacturer (bonus) for selling a certain number of new cars that month