Back in the BIZ

OK, so I took a young sabbatical after you could say I burned out.

 

I think that could happen if you are the one who unlocks the doors in the morning and sells sells sells all day and by the time I'm driving home slow jams are already on the radio (10pm.) Sometimes 6 days a week...

 

I ended up taking almost 2 years off!  I really didn't take it off though...

 

In that period I actually did quite a bit. I started a business and sold it. I acquired and rehabbed 3 rental properties that are now bringing me in just about $2k a month. I also had another baby... key word being another! So as you can see I have actually been pretty busy.

 

But anyways, as my most recent email blast says, "I'm Back!"  Its a little different this time too. I'm at a huge dealership instead of a small one. Also it seems like the sales consultants don't make the type of commissions they used to.  

 

Hey!!! That just reminded me why I quit in the first place!

 

That's OK though.  I'm back on different terms this time. I'm also just a little bit older and a little bit wiser. In all honesty, I'm pretty excited!  I'm ready to bend the curve........again.  I'm ready to go make a $10K month look like a bad month! 

 

So wish me luck

 

 

Is The End Of The Month The Best Time To Buy A Vehicle

Over the years I've heard people say that the best time to buy a vehicle is at the end of the month.

Is this true?          YES!
And let me tell you why. It's because the automotive industry is extremely competitive, and all sales are paid on a monthly basis.

Let me give you an example...It's the last day of the month and as a car salesman I know that my commission on all of the deals I've participated in I will get a 25% commission since I have sold 10 vehicles for the month. If I sell 11 cars in a month then my commission bumps up to 40% on all of my car sales for the month. So...I am going to do everything in my power to get that 11th deal, right? HELLS YES!  And that even means going to the decision maker for the dealership that I work for (usually the general manager) and I am even willing to cut a side deal with the manager to give him a cut of my bump up in pay for this final deal that will give me a significant pay increase for the whole month! So now the general manager is in too.  And believe me this happens more than you think.  Not only that but the same goes for the general manager's pay if he can get just a few more deals out for the month.

Don't get me wrong there are exceptions to every rule...and the commission percentages and number of vehicles to sell is a little bit different across every dealership, but every dealership that I have ever heard of, worked for, or knew someone that worked for all based their pay on a month to month basis.  And at the end of the month all these car salesman across the country are all calling each other asking how many vehicles did you sell last month, and how many vehicles did the dealership sell last month, and so on.

After knowing this as a buyer you also have to understand the psyche of your ordinary car guy...and it doesn't matter if he's the car salesman, or sales manager, or finance manager etc...  They all play around all month long and call in sick, take long lunches, leave work early, and have a whole bunch of unnecessary meetings.  Then usually towards the end of the month around the last week everyone works their ass off trying to catch up what they lost out of during the beginning and the middle of the month. 

So in my humble opinion, and also after participating in a lot of the mentioned above myself I don't just believe that the end of the month is the best time to get your absolute best deal on a vehicle...I know it!

Building Wealth

Are you like me and absolutely hate being an employee and making someone else richer?  Well I have a solution, but I have to warn you that this is not an overnight solution...it will take some time. 

It seems like these days you already have to be rich to buy anything that will make you rich...or you have to have a lot of money to make any money.  

Or do you feel like if you start your own business that you would be better off just working for someone else because you can work less and make more money with way less overhead?  I know the feeling...

The first thing you have to do is a financial checkup!  What's this...take a look at your expenses, your bills, everything that you spend your money on.  Most of us are spending way too much and not saving anything at all...this is your first problem...no matter how much money you make save as much as you can!  I know I know you need that money to make it thru the day with food, bills, gas, etc,....This is where the financial checkup comes in...you have to find a way to lower your bills to save that money.  If you are never able to save any money then you will never build up enough money to set yourself free.  No matter how long it takes it could be weeks, months, even years, but start doing it today!

Ok...now you have some money saved up, right?  Here's my solution:  Invest in rental properties!!!  From my experience it is the best way to build wealth!  For a whole bunch of reasons:

1. You get paid every single month your property is being rented!
2. Someone else is paying the property (loan) off for you!
3. Real Estate tends to appreciate in value!
4. You're the boss!
5. You can take a loan out and get cash out of your rental property...now you have more money to make more money! Buy more rental properties with that money!
6. You can have rental properties and keep your day job until the rental properties can pay for your current lifestyle!
7. You can hire a property manager to handle all the b.s. that goes with haveing a rental property for a small fee, and still make money!  Don't do it all yourself!
8. Our population is not declining so people will always need a house to live in!
9. Best of all it's passive income (which means you still get paid, and you don't have to do any work!)
10. Tax benefits...
11. You can hand down your rental properties to your kids, and then they won't have to work either!

Those are just a few of the reasons that I can think of off the top of my head, but there are many more...

I haven't reached financial freedom just yet, but I can see the light at the end of the tunnel.  I will keep blogging about building wealth and hopefully I will be able to help others in my experiences!



Also take a look at my Real Estate blog here:
www.jimmydavisrealestate.blogspot.com

How to negotiate the best deal on any vehicle

I've always told customers that the hard part is finding the right vehicle, and the numbers will fall into place.  Which is really just another way that I know to bypass that actual question of a customer trying to negotiate a discount on any given vehicle.

I've been in the car business for over 6 years straight now , and I'm still going at it.  In my experience the easiest, and best way to get your best deal on a vehicle is pretty easy...no matter what kind of car you're looking at...all you have to do is find a comparable model on-line with the lowest price. Call that dealer and start negotiating a deal on that vehicle and your trade-in too.  Then take that same information, (or ammunition is what I like to call it) to your local dealer that has the car right there in front of you that you can see, touch, and actually test drive.  I would even print the info out on the other vehicle that I found 4 states away to have with me.

Then you just simply explain to the salesman or sales manager that this is simply a business decision and it would not make since to pay more for a vehicle that you can get down the road for less.  Most of all during this negotiation process try to be nice to the sales consultant and the sales manager.  I've found that if the customer is nice and not a jerk about it that in the end we will go on ahead and match the other dealers deal...when normally we won't if the customer is being mean to us. 

State your demands, and tell the sales team that it's strictly business and in the back of our minds as car guys we understand.  If they say they cannot do it thank them for their time and leave....9 out of 10 times they will call you and do the deal...especially if they like you, but if it's someone that I hated talking to then I (the salesman) will not call them back.

Believe me I always hate it when a customer comes in with this type of information...and it really doesn't happen very often...so do a little bit of internet research and good luck on your new car!