Beat The Dealer - September of 2008

BEAT THE DEALER

This month, I begin a series designed to answer the age old question, “Should I buy new or used?” Enjoy.

Four Pros To Choosing Used

More Choices: The automotive market has been on fire these last few years and as I discussed before, the increased sale of new cars along with the spike in leasing and lease turn-ins flooded the used car market with an abundance of high quality, pre-owned, one to three year old cars, trucks, vans & suv’s at incredible prices.

Costs Less: Motor Trend Magazine states, “A new car may be very costly to own – most of all, because of depreciation. If you buy a used vehicle, you can help beat the high cost of depreciation and get more car for your buck at the same time.”

The average used car depreciates by 15% during the first year of ownership and 13% during the second year. Pre-owned vehicles do not suffer that same dilemma. You come out the winner.

Better Reliability: If you are buying a one to four year old vehicle you may be covered for a time by the manufacturer’s warranty.

Most used vehicles don’t have the same warranties offered on new cars by the factory but most manufacturers’ warranties are transferable with the sale of a vehicle at no cost to the buyer. Many certified pre-owned vehicles offer pre-owned car buyers with additional coverage they can count on.

Good As New: Certified pre-owned programs were created as a result of dealerships being overloaded with late-model used cars coming off leases written two or three years ago. To move all these used vehicles off their lots, dealers are transforming the cars and trucks into cream puffs and then wrapping them in the security blanket of a warranty (for example, Certified Vehicles at Frank Myers Auto Maxx have a Free Lifetime Warranty).

Coming next month: “4 Pros To Choosing New”

About The Author - Tracy Myers has spent the past 15+ years trying to change the landscape of the car business and the bruised reputation of car salespeople all over the country. He is the author of "Eight Keys to a Better Car Deal" and the best selling book "Car Buying Secrets Exposed - The Dirty Little Secrets of a Used Car Dealer", available at Amazon.com. Tracy is a Christian business owner whose goal is to run his business "By The Book." Read his blog @ http://www.frankmyersautomaxx.blogspot.com/ or contact the Author by email: tracy@frankmyersauto.com

"Who Is To Blame For High Gas Prices?"

A recent survey conducted by Consumer Reports says that motorists are feeling the pain at the pump, and it is impacting their lifestyles and shaping future car buying habits. The "Auto Pulse" survey revealed some very interesting answers.In his explanation, Jeff Bartlett, Deputy Editor Online, Autos, said "With fuel prices and the upcoming presidential election dominating headlines, we thought it would be interesting to see how these issues intersect." So, Consumer Reports researchers conducted a random, nationwide telephone survey of nearly 900 adults aged 18 years or older who drive and whose household owns at least one vehicle. Their responses were quite interesting: In fact, 77 percent of the respondents blame the Government's failure to implement an effective energy policy; 75 percent blame the oil companies; and 70 percent blame the foreign oil makers.

When asked how to fix these high prices, consumers enthusiastically suggested a range of solutions. Among their answers, 90 percent advise increased support for alternative energy development, 84 percent would negotiate lower prices with oil-exporting nations, and 83 percent would encourage conservation through tax incentives, alternative transportation. While the results of the survey to be quite interesting, the comments made in the corresponding blog are the most intriguing. On this page, we have an opportunity to read more than just prefabricated answers and statistics; we are given an opportunity to share in their true opinions, which range from quite astute, to perhaps a bit fanatical. Regardless of their perspective, many of their responses are actually quite educational. One mother shared her perspective. "Amy's" defense of SUV's and two-car families is certainly understandable, when she says "With 3 children in car seats, I require a larger vehicle. I wanted a more fuel efficient vehicle, but that wasn't an option in the American made market at the time. I try to walk or ride my bike, but most stores are now closing that were within the distances I can go with 3 children in tow. I'm doing my part by planning ahead to try and get all my errands done in one circuit when I do need to drive.""Master D" blames our lifestyle, when he says "Congressional pandering to special interests of all types, increased demand from China and India, inadequate support for research on fossil, nuclear and alternative energy, restrictions on oil/gas exploration and generally lack of astute leadership."

One of the most responses was posted by "Ken," who scathingly says "Have your cake and eat it too. Low taxes big benefits. Gas guzzling SUV and cheap gas. Americans are like a bunch of spoiled rotten children whose mommy and daddy never say no. Now they're all crying their little eye's out becuase they can't afford their dredit card lifestyles anymore. Hopfully Uncle Ming and Uncle Achmed will finally get us to wake up before it's too late." Don't hold back there, Kenny!The broad range of responses on this page will have you enthusiastically nodding your head in some places, and angry in others. Regardless of whether you agree or disagree, they are all enlightening. Who do you think is to blame for our high gas prices? And do you have suggestions of your own about how to solve the problem?

About The Author of "Musings From The Maxx": Tracy Myers lives in Lewisville, North Carolina with his wife Lorna and their 2 children. Tracy has spent the past 15+ years trying to change the landscape of the car business and the bruised reputation of car salespeople all over the country. He is the owner of Frank Myers Auto Maxx (Winston-Salem & High Point, NC) and Uncle Frank's Auto Approval Center (Winston-Salem). Tracy is a Certified Master Dealer, an NIADA Eagle Award Winner and was named the National Quality Dealer of the Year by the NIADA. He was recently recognized as on of the Top 28 Independent Automotive Retailer in the United States by Auto Dealer Monthly Magazine and one of the Top 3 dealerships to work for in the country by The Dealer Business Journal. Tracy is also the author of the book "Car Buying Secrets Exposed: The Dirty Little Secrets of a Used Car Dealer", available at Amazon.com and at any Frank Myers Auto Maxx location. He is a Christian Business Owner whose goal is to run his business "By the Book".For more information, please visit frankmyersauto.com

Triad Business Leader Top 100 Article

June of 2008 - Fast on the heels of the announcement that Frank Myers Auto Maxx was named to the Business Leader Top 100 List, comes the incredible 2 page article in the June issue. Enjoy the article by clicking below:

http://tinyurl.com/3klxfh

Frank Myers Auto Named To Top 100 Businesses List

June of 2008 - It's always a great day here at Frank Myers Auto Maxx, but today is extra special because we were named one of the Top 100 Small Businesses in North Carolina! This prestigious distinction was given to us by Business Leader Media magazine. To make the news even sweeter, we came in at number 22. A great day indeed!

Drive For A Career In Auto Sales

I sat down with my management team on New Years Eve to discuss the opportunities for improvement and growth that our company had in 2008. As usual, one of the biggest challenges facing the automotive industry is hiring and keeping good Sales Professionals. Since I grew up in selling cars and getting paid strictly on commission, I'll be the first to admit that I am not the person to figure out this dilemma. Personally, I can't understand why anyone would not want to sell cars. So I guess here is the proper place to quote master sales trainer, George Dans: "If selling 20 cars a month was easy, everybody would be doing it".

We adjourned our meeting with no solutions to our employment "issues". Please know that I DO NOT like to be defeated and this felt like defeat to me. So I went scouring the internet for answers that I never found. I did find a great article by Ron Coxsom on Monster.com about entering into an auto sales career. I am posting it here in the hopes that someone reads this that has not been happy at their current JOB...(remember that JOB stands for Just Over Broke). Or maybe you feel that you are not getting paid what you are worth. It might be a family member or even your spouse that you want to try and help out in 2008. If any of these people sound like you or someone you know, please don't wait another day to make the decision that might change your life forever and speak to someone at a local car dealership about a career in automotive sales. Happy New Year!

Drive For A Career In Auto Sales

The lure of a challenging and well-paying opportunity -- along with a new car -- may have piqued your interest in an auto sales career. But before you get revved up about those big commissions and new wheels, consider whether your personality is a good fit for the business. You'll also want to take some time to research the many brands out there to find one you'd be truly passionate about representing.

With the right mix of motivation and enthusiasm for your product, you'll be on the road to a successful new career. These guidelines will help you stay on course.

Know Your Personality

What kinds of people do best in auto sales? Ken Bratz, owner of Leadership Resources and Consulting in Palestine, Texas, says "top performers have a utilitarian trait, which is a value that separates the good from the great."

Mike Sadler, pre-owned sales manager for Beaman Toyota in Nashville, says that "before venturing off in our game, a salesperson has to be very disciplined, self-motivated, team-oriented, driven by self-achievement and have an ownership mentality."

Some dealers now use personality tests to help them hire the best people and devise training programs for them. Bratz points out that such tests also help salespeople focus on what drives their best efforts.

Pick the Dealership

Seek a manufacturer and dealership that fit your personality -- those you can represent with professionalism and honesty. Do your own research, and then apply for a job if you feel you would be proud to represent the dealership and brand. At the interview, be sure to ask your own questions:

How often does management train its staff?
How does the dealership measure performance in its salespeople?
What traits does a salesperson need to have to be a top performer at the dealership?

Also ask a sales manager at the dealership if he would allow you to sit in on a sales meeting or watch a salesperson in action. This will help you know what to expect on the job.

Learn to Believe in Your Product

Once you've picked a dealer and brand, you need to learn everything you can about the product you're selling. If you aren't interested in learning about your product, why should your potential customer care about it? By learning about the autos you're selling, you're not only building your knowledge and showing your resourcefulness, but also conveying your passion for the brand.

One thing you can do to keep learning about the brand you are selling is to take a brochure from the dealership home every night. Read it from cover to cover. Include this knowledge in your presentation to customers, but remember to sell the information, not just repeat it. Customize the information to fit your individual selling style and personality. Remember, the very first sell you make to a customer is you; you need to allow the customer to trust you.

You Are What You Do

"You must look at auto sales as a career and not just a job," says Eric Carr, general sales manager for Gary Force Toyota in Bowling Green, Kentucky. Invest in yourself, and be loyal to your team as you learn your trade.

ABOUT THE AUTHOR OF "MINDLESS MUSINGS FROM THE MAXX" - Tracy Myers is the owner of Frank Myers Auto Maxx (Winston-Salem & High Point, NC) and Uncle Frank's Auto Approval Center (Winston-Salem, NC). He is a Certified Master Dealer, the National Quality Dealer of the Year and one of top 28 dealerships in the Nation. He is also the author of "Eight Keys to a Better Car Deal" and the best selling book "Car Buying Secrets Exposed - The Dirty Little Secrets of a Used Car Dealer", both available at Amazon.com

Visit Frank Myers Auto Maxx on the internet at frankmyersauto.com

Recommended reading : The Toyota Way By Jeffrey Liker Release date: 17 December, 2003