Are Car Salesmen Obsolete?

Is car sales a bad job?

Many people view a career in auto sales as a job filled with long hours and the need to employ hard closing techniques.

However, a career in auto sales can be very rewarding.

Those who are successful in auto sales understand that their success is not dependent upon the brand of car that they sell..

Is it illegal for a car salesman to lie?

Lying to customers might not make a car dealer’s nose grow long, but it can cause his reputation to go south. … Both state and federal laws contain auto dealer fraud provisions intended to punish dealerships that lie to their customers. These laws make deception and unfair practices by dealers illegal.

Can a car salesman make six figures?

If you can sell 20 or 25 cars a month, and “hold gross” (make a big profit) on each of them, you can make more than six figures annually. … So at every dealership there’s what’s known as a minimum commission, or “mini deal.” That’s the minimum the dealership will pay you when a car deal makes no money.

What salesman make the most money?

The highest-paying sales job in the US pays as much as $185,000 a year—here are the other 6Sales engineer. Glassdoor salary range: $68,000-$185,000. … Software sales rep. Glassdoor salary range: $50,000-$141,000. … Realtor. … Pharmaceutical sales. … Major gifts officer. … Medical device sales rep. … Recruiter.

Do car salesmen prefer cash or finance?

But that’s not how car buying works. Dealers prefer buyers who finance because they can make a profit on the loan – therefore, you should never tell them you’re paying cash.

Why you should never pay cash for a car?

The common thinking is that buying a car with cash is better than financing because you won’t have to pay interest. … In that case, paying with cash may not be the smartest thing to do because you’ll lose very little money by financing; you get to keep your cash for other projects or investments.

What does cash on the hood mean?

Sales incentive or rebate Manufacturers offer limited-duration discounts to consumers to sell certain cars, also known as “cash on the hood.”

Why do car salesmen have a bad reputation?

If you are looking to get into car sale, the big dealership won’t hire you without some experience. … The salespeople take advantage of their situation, and try selling them a subpar used car with high interest rates. That contributes to the bad rep of these sales people.

Do car salesmen make money?

Most dealerships pay salesmen a paltry base salary of roughly minimum wage. Salesmen then typically earn commissions of 25% of the dealership’s gross profit on the car. That gross profit, by the way, is more than you might think.

What should you not tell a car salesman?

10 Things You Should Never Say to a Car Salesman“I really love this car” You can love that car — just don’t tell the salesman. … “I don’t know that much about cars” … “My trade-in is outside” … “I don’t want to get taken to the cleaners” … “My credit isn’t that good” … “I’m paying cash” … “I need to buy a car today” … “I need a monthly payment under $350”More items…•

What other jobs can a car salesman do?

Possible Car Salesman Career Path ChoicesCar Salesman. … Internet Sales Manager. … Internet Sales Director. … Finance Manager. … Sales Manager. … Used Car Manager. … General Sales Manager. … General Manager.More items…

What is the turnover rate for car salesman?

A recent Cox Automotive Dealership Staffing Study found that the average turnover rate at a dealership is 40 percent for dealership employees and 67 percent for salespeople.

How do you talk down a car salesman?

Make a Reasonable Offer and Stick to It Once you’ve picked a car you like, make the dealer an offer. Tell them that if they can hit that figure, you’re ready to sign on the dotted line. Be sure to let them know that you’re not budging. Be polite, but firm.

Is buying a used car from a dealer a good idea?

Buying from a dealer is the easiest and safest but generally is the most expensive. Dealers have to cover expenses such as rent and wages, always detail their cars so they present well, and by law they have to provide a warranty with every sale — and that extra cost is usually passed on to the buyer.