I am now a proud owner of a Genesis

[John Lipari]

I got my 3.8, Titanium Grey/Saddle ,Genesis with premiun plus this week at Lester Glenn Hyundai in Toms River NJ.I paid 32,993.00,thats with the trunk liner and wheel locks.Thats 851.00 below invoice,invoice prices can be found on Kelly Blue Book .com, and 3,157.00 off the sticker,with was 36,150.00. This was not a demo,infact the dealer had to trade with a dealer way out on Long Island(very far away)to get my colors so the car had 130 miles on it when it got here.I was in negotiations with six dealers,another dealer matched their price but thier doc was 300 and they were trying to charge me 200 for glass etching,witch is a scam.the doc at Lester Glenn was only 149 and they were the closest to my home. The only other charge was 45 for transfer of plates. All six dealer looked me right in the eye and told me they could not go below invoice on first contact but after 40 days of back an forth, can you top this negotiations, here we are.Don't feel sorry for the dealers,the hold back on this car is 3%,the dealer showed me the invoice,it was 1050.00 on this car. He also told me they get additional compensation if they meet their quota of sales for the month. He did not say how much and in what form. If you don't count that they made 200 bucks on the car. I'm still getting to know the car but so far I love he saddle leather,glad I waited for my colors.

 

[PriorityHyundaiVA]

You dont feel sorry for the dealer, well maybe not but you should feel sorry for the salesperson. what alot of people dont understand is that people sell cars to make a living. getting a good deal is great but you shouldnt do it with the preface of just of screw the dealer. now overcharging for the car is one thing but as long as its within the parameters of the msrp, i dont see a problem and im saying this because even though i sell cars i still have to buy them. i notice people are always attacking dealers, do you attack grocery stores, furniture stores, electronics whathaveyou. their stuff has way more markup % wise than that of cars. is there a holdback sure it is, but salespeople dont get paid off that. would you enjoy your boss at the end of your pay period negotiating what he feels you should get paid? what would you do. yea, i know...quit. it works within the same. you think its easy dealing with a harsh customer for pennies after the spend weeks or hours beating you up after you done an excellent job showing them, explaining to them an vehicle..etc. its not worth it sometimes then it be the ones that beat your brains in then give you a foul survey. i respect that you got a good deal but do you think that 200 bucks is enough to keep a dealership operating. the house you live in may have cost 60,000 10 years ago now the property value is listed at 250,000. please explain to me why you wouldnt sell yours for 60,200 i mean thats all you paid for it was 60k. would you do that, heck no..so as long as dealers are not overcharging, respect that as well as i can respect the fact that you got a good deal.

 

[lmftaz]

Well said--others will reply with many stories of less-than-ethical car salespeople, but we need to hear stories like yours. No disrespect for John L's efforts though...


G 4.6 blk/blk

 

[Marvinlee]

Dealer year-end profits are a composite made up of many individual car sales. Some return a very high profit, some small. Most dealers will be happy with all profits: great or small. Dealers should not be ashamed for the high profit sales nor mourn sales with smaller profit margins. All are good.

 

[PriorityHyundaiVA]

Dealer year-end profits are a composite made up of many individual car sales. Some return a very high profit, some small. Most dealers will be happy with all profits: great or small. Dealers should not be ashamed for the high profit sales nor mourn sales with smaller profit margins. All are good.

Are you not understanding??? The ones putting in the most work are the salespeople, we get or have nothing to do with dealer extras. we dont get paid by the hour. you missed my whole point, dealers incentives and salespersons incentives are different, when you go look at cars you dont talk to a dealer, you deal with the SALESPERSON. we have families to feed also and i believe in doing it thru a ethical way. like i said good deals are great, be happy you got em, dont say you dont feel sorry for the dealer because if there werent things such as holdbacks and extra incentives, you the customer wouldnt have the opportunity to buy a car because there would be no dealers open because of todays customers wanting to beat everyones brains out. stop acting like its some hidden hoax or something, or something unethical. i tell you another thing thats funny, people who beat the dealers brains in on price but then when they go and trade a car in, they want the world for it, then say or will tell the dealership their trying to steal from them. well, what exactly were you doing when you bought the car??? is it not wats good for the goose good for the gandor???

 

[njohnson]

With companies like Toyota, Hyundai, Nissan, etc the sales are in the bulk numbers, not like the luxury car companies where you sell less in terms of pure numbers but get a greater markup on each vehicle. So if you sell a car and make $200 off of it (your number), sell 2 a day x 5 = $2000, not bad at all. That is the life of a salesperson, getting your money from what you personally put into the job.

I do know how rough it can be, my girl's brother works at Saturn and used to brag how he'd pull in $10,000 a month+ on sales but now with the current hard times he is on borderline forclosure. You have to be smart in the good times so you can live in the bad times. I do the same thing as a freelancer.

 

[PriorityHyundaiVA]

With companies like Toyota, Hyundai, Nissan, etc the sales are in the bulk numbers, not like the luxury car companies where you sell less in terms of pure numbers but get a greater markup on each vehicle. So if you sell a car and make $200 off of it (your number), sell 2 a day x 5 = $2000, not bad at all. That is the life of a salesperson, getting your money from what you personally put into the job.

I do know how rough it can be, my girl's brother works at Saturn and used to brag how he'd pull in $10,000 a month+ on sales but now with the current hard times he is on borderline forclosure. You have to be smart in the good times so you can live in the bad times. I do the same thing as a freelancer.

i dont know where you get that payscale from but that is not even remotely close to how it works...so you may need to ask around cuz your way off. thanks.

 

[John M]

I've sold cars before and it means I also know how to buy them. My local Hyundai dealership knows when I come in I'm not out to "steal" a car from them. I simply bring in people I know who are interested in a Hyundai product and we cut through all the usual negotiations straight to a fair drive-out deal. The salesman has bills to pay and so does the customer.

Why should the dealership drop $40k on a car and make a whopping $200 when they sell it? Notice the dealership profits $200; the salesman may see $20 on that sale because it didn't make any money. Salesmen get NO salary; it's a draw. If they don't sell, they get paid but it gets deducted from their next sale. Too long in the draw = find a new job.

Oh, and Saturn employees aren't salesmen - they're sales clerks. The closest they come to "selling" is maybe convincing you to get a different color because it's the one in stock.

An extreme few salesmen in the country sell 50+ cars a month. Hell, entire dealerships around here are glad to sell a little more than that in a month. It's interesting that people think it's easy for a car salesman to bag $100k+ a year selling economy cars.

 

[pjkad]

Firstly, congrats John on your new ride. You will love it.

As it relates to what makes a fair deal, we can certainly appreciate the work the salesperson does and the compensation schemes that don't allow them to be properly rewarded for a sales deal. But the industry has made its own bed by perpetuating a bargaining structure that for decades had the consumer at a disadvantage. Now that the information playing field is more level (thanks Internet), the bargaining can be fair. If a dealership does not like a deal they have no reason to accept it, and same for the consumer. If a salesperson is shut out of these tighter deals, then the marketplace will make it harder to find salespeople.
I never ever feel bad for a dealership on any deal they make. The sales managers know their business and are making money for their company as best they can (including trying to slip in add ons in the course of the closing process).

 

[PriorityHyundaiVA]

Firstly, congrats John on your new ride. You will love it.

As it relates to what makes a fair deal, we can certainly appreciate the work the salesperson does and the compensation schemes that don't allow them to be properly rewarded for a sales deal. But the industry has made its own bed by perpetuating a bargaining structure that for decades had the consumer at a disadvantage. Now that the information playing field is more level (thanks Internet), the bargaining can be fair. If a dealership does not like a deal they have no reason to accept it, and same for the consumer. If a salesperson is shut out of these tighter deals, then the marketplace will make it harder to find salespeople.
I never ever feel bad for a dealership on any deal they make. The sales managers know their business and are making money for their company as best they can (including trying to slip in add ons in the course of the closing process).

wherever you work, do you think its fair what they are paying you? why arent they paying you more? you all talk as if the dealers are over MSRP, if they are then doggone right, get them off of that but if they are at MSRP for a vehicle, especially one of this caliber thats THOUSANDS cheaper than any in its class, why dont you feel MSRP is fair? and i ask the question again if you all had houses that now can sell for 200,000 that you payed 60k for, y are you not asking for 60,200?????? none of you have your own businesses obviously because if you did, you would not be talking this and that.

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[PriorityHyundaiVA]

I've sold cars before and it means I also know how to buy them. My local Hyundai dealership knows when I come in I'm not out to "steal" a car from them. I simply bring in people I know who are interested in a Hyundai product and we cut through all the usual negotiations straight to a fair drive-out deal. The salesman has bills to pay and so does the customer.

Why should the dealership drop $40k on a car and make a whopping $200 when they sell it? Notice the dealership profits $200; the salesman may see $20 on that sale because it didn't make any money. Salesmen get NO salary; it's a draw. If they don't sell, they get paid but it gets deducted from their next sale. Too long in the draw = find a new job.

Oh, and Saturn employees aren't salesmen - they're sales clerks. The closest they come to "selling" is maybe convincing you to get a different color because it's the one in stock.

An extreme few salesmen in the country sell 50+ cars a month. Hell, entire dealerships around here are glad to sell a little more than that in a month. It's interesting that people think it's easy for a car salesman to bag $100k+ a year selling economy cars.

thank you, a fair deal is cool, to try and buy cars and all this "under invoice" stuff is bs to me. yea, go head and say it, im just saying that because i sell cars..if anything ive learned to respect the profession (Sales) and dont do people like people try and do us as long as within reason, i could pay FULL sticker price for a genesis and be ecstatic about it. the cars worth it. just dont complain when you try and upgrade and the dealership shortchanges you on trade-in. dont whine to them.

 

[GS300rich]

congrats on your new genesis, glad you got a good deal

 

[BacktoHyundaibychoice]

Hey Proirity, I feel your pain but...
My local restaurant runs nightly specials, often dropping the price of a $17 dollars dinner to $12. With dinner and drinks for two, the tab may be $50. On that I leave a $10 or $11 tip for the waitress. By your logic the waitress got screwed because management lowered prices. I don't see it as anything but a reality: I get a bargain, the owner gets customers and a (lower) profit, and the waitress is still employed and making SOMETHING. One alternative to that whole scenario is that without the specials perhaps I drive through a fast food joint. In other words, it could (for you) be worse.
Written with empathy, because in this economy "there but for the grace..."

 

[pjkad]

wherever you work, do you think its fair what they are paying you? why arent they paying you more? you all talk as if the dealers are over MSRP, if they are then doggone right, get them off of that but if they are at MSRP for a vehicle, especially one of this caliber thats THOUSANDS cheaper than any in its class, why dont you feel MSRP is fair? and i ask the question again if you all had houses that now can sell for 200,000 that you payed 60k for, y are you not asking for 60,200?????? none of you have your own businesses obviously because if you did, you would not be talking this and that.

Your real estate analogy is totally correct. A house is worth only what a buyer is willing to pay for it. MSRP on a car is only a starting point for arriving at what a buyer is willing to pay and a dealer is willing to sell at. MSRP has nothing to do with "fair". How many cars in America are sold at MSRP? Very few. Is that because buyers are not fair?

 

[cviz]

I agree that the home analogy is incorrect. Buying a home is an investment, where buying a car is not. As soon as you drive your new car off the lot it instantly depreciates.

I'd be more that happy to pay MSRP for a car if I knew years later it would be worth more than MSRP; but that is not the case.

As with any commodity it is in the consumers best interest to buy it at the lowest cost possible. If a dealer is willing to sell a car well below invoice that's not the consumer's problem. It may come at a disadvantage for the salesperson; but that is the nature of the business.

I recently needed to purchased a new washer and dryer for my home. I researched several models and narrowed down my selection. I then shopped the appliance stores that offered the lowest price. I happened to find a store that had the washer and dryer I wanted on sale, well below the manufactures retail price. While at the store my wife and I negotiated with the store manager for additional discounts. However, there were no published discounts; but store manager ended up taking $80 off to insure the sale.

It's not the consumer's responsibility to keep a salesperson gainfully employed. it's the GM and the owner of the dealership responsibility.

My goal is to get the commodity I want at the lowest possible price.

 

[Stormy]

If a dealership does not like a deal they have no reason to accept it, and same for the consumer.

Well said, pjkad. We live in a capitalist environment. Both a buyer and seller must agree to the final price before a deal is made.

It is in the seller's best interest to get the highest price possible from the buyer, and it is in the buyer's best interest to get the lowest possible price from the seller.

I don't understand how it can be "stealing" from the dealership if the dealership agreed to the price. They wouldn't agree to any price where they would be losing money.

You're also right about the internet changing everything. Now car companies have been forced to institute programs like "hold-backs" to hide the true invoice price from consumers, since it is publicly available to them. With 3% hold backs and additional unknown factory to dealer incentives, how can even the salesman know the true dealer invoice price?

The truth is that the only people who know what the vehicle really costs a dealership are HMA and the dealership's accountant. No crime was committed here, and a fair deal was made.

Congrats to you on your new Hyundai, and kudos on your excellent bargaining skills.

 

[Sal Collaziano]

I got my 3.8, Titanium Grey/Saddle ,Genesis with premiun plus this week at Lester Glenn Hyundai in Toms River NJ.I paid 32,993.00,thats with the trunk liner and wheel locks.Thats 851.00 below invoice,invoice prices can be found on Kelly Blue Book .com, and 3,157.00 off the sticker,with was 36,150.00. This was not a demo,infact the dealer had to trade with a dealer way out on Long Island(very far away)to get my colors so the car had 130 miles on it when it got here.I was in negotiations with six dealers,another dealer matched their price but thier doc was 300 and they were trying to charge me 200 for glass etching,witch is a scam.the doc at Lester Glenn was only 149 and they were the closest to my home. The only other charge was 45 for transfer of plates. All six dealer looked me right in the eye and told me they could not go below invoice on first contact but after 40 days of back an forth, can you top this negotiations, here we are.Don't feel sorry for the dealers,the hold back on this car is 3%,the dealer showed me the invoice,it was 1050.00 on this car. He also told me they get additional compensation if they meet their quota of sales for the month. He did not say how much and in what form. If you don't count that they made 200 bucks on the car. I'm still getting to know the car but so far I love he saddle leather,glad I waited for my colors.

Salespeople need to complain to their bosses regarding compensation - not to buyers on online forums...

Congratulations on your new Hyundai Genesis, John!!

 

[PriorityHyundaiVA]

Salespeople need to complain to their bosses regarding compensation - not to buyers on online forums...

Congratulations on your new Hyundai Genesis, John!!

congrats to him too, and whos complaining?? simply making a comment based on what was typed..if people on here complain about a dealers prices is it not fair to respond...lol. geez, relax. im happy for him that he got a good deal.
fyi, a persons compensation in the car business has as much if not more to do with the customer then that of the boss if you knew any better.

Well said, pjkad. We live in a capitalist environment. Both a buyer and seller must agree to the final price before a deal is made.

It is in the seller's best interest to get the highest price possible from the buyer, and it is in the buyer's best interest to get the lowest possible price from the seller.

I don't understand how it can be "stealing" from the dealership if the dealership agreed to the price. They wouldn't agree to any price where they would be losing money.
You're also right about the internet changing everything. Now car companies have been forced to institute programs like "hold-backs" to hide the true invoice price from consumers, since it is publicly available to them. With 3% hold backs and additional unknown factory to dealer incentives, how can even the salesman know the true dealer invoice price?

The truth is that the only people who know what the vehicle really costs a dealership are HMA and the dealership's accountant. No crime was committed here, and a fair deal was made.

Congrats to you on your new Hyundai, and kudos on your excellent bargaining skills.

moderator, please close this topic as in people are not even coming close to understanding what points i was trying to make, personally i could care less and am happy for anyone who gets a good deal, but why cant it just be said that i appreciate the deal the particular dealership gave me rather then the "i dont feel sorry for the dealer, their doing this and that and the other statements". heck yea, by making those comments, if you have someone that sells cars on here their going to interject. respect that. im also talking on a broader spectrum them just my dealership to where i know a sonata might be sold for invoice or under but not a genesis. i was just discussing a point.

i'd like to see anyone of you run a profitable business where your making $200 profits per sale.

I agree that the home analogy is incorrect. Buying a home is an investment, where buying a car is not. As soon as you drive your new car off the lot it instantly depreciates.

I'd be more that happy to pay MSRP for a car if I knew years later it would be worth more than MSRP; but that is not the case.

As with any commodity it is in the consumers best interest to buy it at the lowest cost possible. If a dealer is willing to sell a car well below invoice that's not the consumer's problem. It may come at a disadvantage for the salesperson; but that is the nature of the business.

I recently needed to purchased a new washer and dryer for my home. I researched several models and narrowed down my selection. I then shopped the appliance stores that offered the lowest price. I happened to find a store that had the washer and dryer I wanted on sale, well below the manufactures retail price. While at the store my wife and I negotiated with the store manager for additional discounts. However, there were no published discounts; but store manager ended up taking $80 off to insure the sale.

It's not the consumer's responsibility to keep a salesperson gainfully employed. it's the GM and the owner of the dealership responsibility.

My goal is to get the commodity I want at the lowest possible price.

and why do you think they depreciate? and how many of you keep your cars throughout the term of the loan, so most of you never pay the whatever amount you payed for the car.

 

[Simonwpb]

PriorityHVA,

I think we all get it. There are two sides to every negotiation.

Buying a car is one of the biggest purchases most people make besides a house, and nobody wants to pay more than the next guy. Price deflation is kicking in. What is a good deal anymore? You could literally buy something below actual net cost and still feel you could have driven a harder bargain.

In the current economy it is a buyers market. There are inventory concerns, all kinds of incentives and sliding margins. Car dealers and sales reps are in for a rough ride just like a lot of other folks.... All of this is nobody's fault it is just free enterprise at it's finest.

 

[Wordman]

The thing is this: as the proud owner/lessee of a new Genesis, are you happy with it? Would having paid slightly less really have been a deal breaker? It's still thousands of dollars less than the competition.

I love my Genesis. Having read all the threads on price, I realize I may have been able to get a "slightly" better deal. But at the time I took the keys, I did not feel cheated or the victim of a hard sell, just the proud owner of a new Genesis! I hope my dealer felt that it was a "win-win" for both sides.

Now, imagine the future for GM, Ford and Chrysler dealers...