Wednesday, February 18, 2009

More of this equals more of that

You know I've been selling cars for 29 years and I've been through recessions and have learned that there is a certain replacement rate at which our industry travels. Now there are many things that drive auto sales and I'm not gonna bore you with all of them, but there are ones that simply relay on human nature. And the most powerful ones are security and ego. Security type of sales are the people who are beyond the manufactures warranty and afraid that something might break and the repair is their responsibility and these are usually older people who have the ability to buy and either pay cash or have a large down payment and are not upside down. The second type are those that either want to show their neighbors and friends that they have the horsepower(car talk) to get anything they want or just want a new car to make themselves feel better. These are the ones who are thousands of dollars upside down and have no idea of what financial security is all about. I can tell you stories about people who owe 11,12,13,hell 18 thousand dollars more than their car is worth who come in and actually believe they have the ability to buy a new car. I'll end there and take away from this what you may but many of the latter buyers are in their 30's and 40's and have no idea what money is all about. I'll guess they'll learn. Just wanted to get something off my chest................













1 comment:

P M Prescott said...

Been there, done that.