Dominic Niederkorn answer these three questions as quick as you can. Do you like being told you’re beautiful? Yes. Do you like diamonds? Yes. Do you want to marry me? Yes. 😂😂😂 Wait what??!!
Ed: "Yes this gorgeous car is for sale for $30,000 Buyer: Are you willing to budge on price? It leaks, paint is messed up, and it needs repairs. Ed: "Sure, I can budge. $42,000" Buyer: Ok fine. I'll take it! Ed's shrewd negotiation tactics are very powerful.
Just goes to show that adding humor can adjust someone's rigid thoughts about what price they are "willing" to pay. That's why people tend to pay more in auctions, the thought of losing something they would clearly like to have, otherwise they would not make an offer. When someone raises the asking price, it's just as absurd as if someone offers a ridiculously low offer.
My friend sold an old truck one time. Had it on sale for $1500 online, newspaper all the usual places.. This very rough looking character comes and looks at it. Drives it. Says "I'll take it. Will you take $1700 for it?. There was a sign in the window the guy was standing next to that said $1500 in 6 inch high letters. Buddy took the $1700 and his for sale sign and the guy left happy as a clam.
selling '95 miata, $10k firm, no lowballers i know what i got, ran when parked, just needs a fuel pump, bring your own battery, genuine rota wheels $2k extra or bring your own, heres one picture taken at night
*based on a real facebook ad I saw about a year ago) ---------------------------------------- 2003 dodge ram $25,000 OBO I KnOw WhAt I hAvE Smokes, bed is rusty (didn't have a bed on it), transmission jerky, checked the fluids a few years ago, only smoked meth it it a few times, only drove it to and from the corrections center and parole officer's office. Need gone to pay for RV. Don't waste my time No Narks ------------------------------------------ Fucking crack heads dude...
I saw someone on a mopar Facebook group post someone who thought their 2008 charger pursuit 5.7 was a hellcat. I believe it was like 40k and they said it was an srt8 fastest on the fleet and when they put the hellcat badge on that made it a hellcat
Ed's 5 Shrewd Sales Tips 1) Depict the car accurately and honestly. 2) Fully document your car. 3) Have a story. 4) Deal with pricing properly. 5) Let the buyer talk.
Depict the car accurately & properly Quick to the point description a description against the marketplace and the other examples of this car whats significant about the car and whats broken about the car Tell them everything good and everything bad about the car As you tell them the bad stuff about the car your gonna exaggerate the slightly bad things and your gonna minimize the significance of the really bad things Document the car Anything & everything from just having your mechanic receipts in the glove box to having it all documented on VinWiki Have a story Why are you selling the car? People assume its because its a broken piece of garbage Hopefully not but if so let them know they are buying a project, it will pay off in the long run You've owned a bunch of these and just wanna own some more, your wifes making you sell it, you just had a kid and you need a backseat, your upgrading, you need to make room for more toys/projects Dont just say im just testing the waters just seeing what i can get, give a real reason Price the car reasonably Get a real buy figure from carmax(-10% of normal auction price) or another dealer as your baseline and or home base If its rare price it 20%-30% above market value if they are gonna be interested they will inquire and you can explain what you think its worth The currency of a sales process is commitment so never be afraid of a lowball offer and never be afraid of justifying why youve priced the car the way you have Dont be mad if someone says i will pay you this today for your car that exactly what you want to hear may not be what your gonna take but it atleast an invitation to have a real discussion about someone really owning your car I priced the car inline with what I view the market to be based on these factors, I understand they you’ll want to pay less and get the best deal possible, I am flexible on price and am willing to negotiate, but at this point my flexibility is in the order of hundreds of dollars not thousands of dollars, so please let me know where you need to be and I'll do my best to make that work Something along the line of im flexible but not that flexable Once negotiations start dont get insulted by a lowball offer, and dont alienate a very committed offer just because your trying to stay so close to your desired price Let they buyer talk Dont give them a chance to say no to anything, get them to agree with stuff as much as possible The more money you make on someone, the more they pay for something the happier they’ll be with it in the end Let them talk, give them enough rope to hang themselves, Let them tell you why, explain to them why they’re correct and move them towards commitment to the purchase and they will be happy paying what they decided it was worth
From the buyer's side, is there any real way to persuade an unreasonable seller? I've been trying to find a new daily driver from a private seller for school/work, but all the sellers I've come across are crazy! They're demanding 40-60% over KBB/Edmunds private party values on realistically $7k-$10k cars! It's really frustrating because I can show them KBB, Edmunds, NADA, but they absolutely refuse to be reasonable. Is there anything a seller can do in this situation? It feels like nobody who has a car listed actually wants to sell it for anything remotely fair! Or that they think their 12 year old Lexus is some rare supercar that has held its dealership price tag for the last 8 years.
Ed Bolian I sold my dads 1976 Oldsmobile 98 regency coupe for 3,000 on Craigslist. Got 10 people trying to buy and sold for 2900 Friday morning to first person that came (listed Thursday night) does this mean I should have asked higher?
$1,000,000? Huh? American Big 3 Viper ACR $200,000 C8 Corvette $100,000 Ford GT (2006 era) $400,000 Use the rest of the cash to pay insurance, and to rent/buy a garage.
When I started car sales back in September, I didn’t believe the whole “the more money you make the happier customer will be” until it happened the first few times. They typically are my happiest customers. The minimum commission customers are often the most unhappy and frustrated.
It's because people who can afford to spend more generally have more money and are less stressed about normal wear and tear. A new set of wheels and a brake job for $800 can almost total a $2000 car but is only 1% the value of an $80,000 car compared to 40% the value of that $2000 car. The owner of a $2000 car probably won't care about piece of trim worth $20 (1% of the 2k cars value) in the same way the 80k car owner won't care about the $800 charge. Plus the buyers of cheaper cars are usually buying them out of necessity, without a car they may have no job, no income etc. It's like having a house with no power in the middle of winter.
"When it comes to the parts of the transaction where they need to trust you more: accepting payment, transferring title, taking delivery, NOT KILLING YOU. All the things you need a buyer to do..." This is why I keep coming back to your videos time and again. Thanks for all your hard work!
Ed's point about documenting everything is so important, regardless of what type of car you have. I save absolutely everything, even receipts for stuff like wipers blades and air filters. I've never once had a buyer not be exceptionally grateful to get a stack of service and maintenance paperwork with the cars I've sold.
tbh, just finding excess receipts just feels to me like i'm not getting the documented history of a beloved car, but more that i'm getting a piece of the owners organization for their spending. If i'm looking at a car, the only receipts for wiper blades i care about is if it's for the current ones if they were replaced recently. But then again, i'm a licensed mechanic so i probably know more than the average buyer what parts of the history is relevant for my ownership or not.
I was thinking the exact same thing. So just skimmed the comments to see if anyone else noticed it. It's always been a weird film in my mind. So utterly cringeworthy. The hero's are car thieves (In any other situation you'd want to watch them burn !!!!) But it's also really fun to watch......... Sod it. I haven't seen it for something like two years now, So that's made the choice of what I'm going to watch tonight pretty easy ! :)
I'd add item 5.1 (subset of #5)- World class listening. If the buyer is talking, you need to be really hearing every word and not simply be waiting to open your pie hole the second they shut up. One of the better videos this is Ed, well done.
I am digging this Ed. I was told even as a young kid that I should be selling something. Sold drugs for over a decade before going straight, and have thought a lot about car sales. I like the chance to learn from someone I can trust.
Props for the "Gone in 60 Seconds" reference. :D While Ed is focusing more on higher end cars in this, it still can convert to regular everyday drivers that poor people like me can buy/sell. My experiences with buying/selling cars online leads me to say these few things. Take like as tips or tricks if you like. 1. Know what you drive. It always amazes me to see people list cars for sale and spell it wrong, or even worse have the right model, but wrong manufacturer, or even have the complete wrong model listed. 2. Describe your car. Don't just put "car for sale." List make, model, mileage, basic condition, transmission type, etc. 3. PICTURES. Take pictures, and not pictures when it is 11 PM and you can't even see it. You also can't have it in a garage and stand 2 feet away and expect a good result. I always say when you are trying to sell your car pretend like you are taking a picture for a calendar/poster. It may not be a show car, but think about the way those cars are shot and take similar pictures. This will let potential buyers see every angle. Also take pictures of the interior. 4. Be honest. My brother is a guy who is addicted to changing cars all the time. He has went to look at some cars that were presented as "needing a little work" (which he isn't afraid of) only to drive an hour away to find out the car would be better off in a scrap yard. Any car I have ever sold I took pictures of any paint or interior defects. I went into detail about what the car needed. I am sure I scared off some potential buyers, but anyone who came to look at the car had zero surprises. No one left mad because they saw something they didn't expect. 5. List the car for more than what you want. If you have a A to B beater that you want to sell because you've upgraded and you really don't want to take less than $2500, then list it up for $3000. This gives you the wiggle room and makes a buyer think they got the upper hand when they get you to drop your price. They might even come in at $2700 and you get more than you wanted. Both parties win.
This is GOLD. The "yes" trick is amazing, I sell highline/exotic for living. Ed, can you put out a video on some of the things that helped your sales skills along the most? Negotiating, word tracks, dialogue, qualifying, etc?
Hearing Ed use a line from gone in 60 seconds made my day. Great videos from the whole vinwiki crew as always, definitely keeping me sane at work and home for quarantine.
Ed, I agree with everything you said. 100% Accurate. At the end, about someone loving it more because they wanted it is true too... However when you are buying a "normal" car at a dealership... I absolutely hate these sales tactics. As a semi-professional asshole that hates being manipulated when he knows he is, all these things are awesome to call out while in the dealership. Especially when escorting someone through a car sale. Remember, as you know the salesperson is only there as a fake friend. They hold little to no sales power themselves. They dont negotiate. They are not even the person you need to talk to. The problem stems from needing to talk to the backroom manager that knows the price, and getting them back down to the real world. I hate buying from dealerships. Private party sales as often as possible. Some salespeople are nice. I am nice to them. Some are aggressive. I equal their attitude. However the manipulative ones are my favorite. they try to get you to come inside by talking to you, turning and walking in. Stop. let them walk to the door. You can have them come back. Or better yet, someone else. They try to talk about the car by what they think you like on it. Shit on that. "This car gets great gas mileage" not compared to X. Not to just be an ass about it, but it helps keep the person you're with grounded. They hear car does X, remind them all cars do X. etc. but the big bad guy is not the salesperson. Its the finance guy. Watch him. He is enemy number one. Be prepared to actually READ.
I’ve been a car salesman for about 4 months now. I can definitely use some of these tips, especiallyyyy the last one. Letting the buyer talk will allow them to tell you exactly how to sell them the car
Me selling my Mazda 3 Buyer: "I was also looking a few Ferrari's." Me: "Well sir, you can buy this mazda for the same price as cheap set of rims for a Ferrari. Can you drive with just those rims? No, you cant. So how about we do the paperwork." Buyer: "Yeah ok." Me: Shrewd Negotiator
Some of these things are happening to me right now when trying to buy a car from FB marketplace. I asked if their price was firm and when they said "I know the value, please understand the value of this" on a mass produced car .I already knew this person wasn't serious about their selling their car. I can't wait to see it 4k-5k cheaper than what they listed lmao.
I too am in sales. Ed could do little else to present the best possible image of a situation. He is clear in that honesty is key but building a story truly sells. Great stuff as usual!
Ed sounds a lot like the trainer I had when I broke into real estate many years ago. Especially about "let the buyer talk". In our case it was when showing a house "walk behind them and watch for buying signals" .
Speaking to #4 point -- I have bought and sold over 30 vehicles personally in 10 years, when people say how flexible are you on price - my line is, I am flexible but not a gymnast. That has worked great! Creates a laid back/comical atmosphere, we always make a deal.
I was recently looking for a new car (a couple of months back and i ended up buying one) and after watching this and reflecting on my own experience, every dealership i went to prior to the one i ended up buying from, not one of the salesman did anything you just said and ended up walking away without the intention of going back to every single yard. I'd also like to add something from the buyers end, when you shake a potential clients hand, make it a good one. not too firm but also not like the loaf of soggy bread i was greeted with at one yard. showed very little confidence in the salesman.
Isn’t it nice out today? Yes Isn’t this a great interior? Yes Isn’t this what dreams are made of? Yes Do you have the money for this Lambo? Yeah do you do 100 year financing?
How does someone avoid letting the idea of "Never let them say no" cloud their judgement of the other tip to "Let the customer talk"? This sticks out to me as something a lower-experiences salesman could get their mind in a knot over and potentially have panic moments during a potential sale.
This is all great advice, but it's not new to me which actually makes this video worth the watch! You don't know how happy I am to hear that this is what Ed suggests which is exactly what I have used to sell quite a few cars. My friend and I have people asking us to find them cars, that is how well this works. I have had people coming back saying "Yep you are right, I'll pay for that repair you talked about when I bought the car." Just be honest, don't lie about what's wrong with the car. People do research now days, and they get those google hits of the top things that go wrong with cars, do that search! Get ready to explain why those top 5 things aren't an issue, or that they are an issue!
Coffee is for closers! Lol Thanks for the knowledge, Ed -- I've seen countless videos on this channel, and while all have entertained, THIS is by far the most useful.
Ed!!! Great video and advice on the sales process! Loving the videos and car stories. Keep them coming! :) Confidence (as you have said before) also goes a long way.
Also you can say "i have someone else that is interested. if they dont respond its yours." afterwards keep the ad up on the site and if a higher price comes up take it
At first I thought this was a MrTrashForTheBin (MrBossFTW) video on the GTA Online Import/Export DLC that came out years ago, then I saw VINwiki and was like, "Oh these people actually know what the hell they are talking about, AND they put real effort into each video of theirs".
Gotta be honest Ed, I used to love Sales. I spent five years selling Harley-Davidson, then went to car sales... All it took was a bad manager to burn me enough that I went to work in a factory. Watching your videos makes me want to give it another try.
Man i wish i even had enough money to go to walmart to get my oil changed. Ive checked the levels and have added 2 quarts of synthetic over 24,000 miles. ALL highway miles but i feel sooo bad :((
My dad is quite the renowned used car salesman where I live, and a friend messaged him struggling to sell his Ferrari 360. He asked; "What am I doing wrong? No one's calling." He went through the ad where he wrote it needed to replace the timing belt. He answered; "Remove the fact that it needs to replace the belt, tell them on the phone instead once they've reached out to you. It's easy to exclude your car as an option, but telling them once they're on the hook makes them actually consider it." The car was sold that same week.
Excellent presentation...THANKS!! One thing I wish you would have covered is allowing test drives for rare cars...especially with manual transmissions. I've given a few test drives only to walk away (as the passenger in my own car) shaken. How (or do you) properly allow test drives for personal cars?
Wow Ed, great video! I’m more of a buyer then a seller (I have 13 cars currently lol) but it really annoys me when I send someone a low offer and they refuse to negotiate, I either don’t get a response or I get a “no” response! Some people seem to lack basic negotiating skills, I can think back on several cars I would’ve bought if the seller would’ve just got back to me with a counter offer.
Let them talk, and listen to what they say. My first new car purchase, back in college, caused one salesman to lose my business, and earned another man a commission. I told both exactly what I wanted and what I could afford. One insisted on showing me the fully loaded crew cab truck, while the other pointed me towards the two trucks on the lot that met my specifications, and told me where his office was. Guess which one got the sale.
I sold cars when I was 19-21. Honda dealer (mainly used) and then the used side of a Lexus dealer. This was just as the internet began changing the business. So many hours! Minimum 65-70 hrs/week and Ultimately why I quit, never seeing my young toddler. But I had so much fun. The psychological aspect was the most interesting part. And the thrill of the kill and rush of holding gross and making big checks at that time in my life. I gained so much knowledge in that short time that I knew I could apply in all aspects of the rest of my life. Soon after used same skills to flip a foreclosure for enough to put a down payment on the house I still live in 20 yrs later. All with no experience but the tactics and confidence I projected in car sales. I was surprised how few Honda sales guys had the mental awareness and discipline to exercise the concepts they should’ve been learning. NPC’s really - just burning off potential sales with the memory of a goldfish. But the used Lexus sales force was far different. Youngest person selling was in their mid 30s but most around 45-50 yrs old, aside from my 21 year old fresh face. My finance director took me over with him and vouched for me. Their inventory was superb and varied. I had difficulty slowing the process down for a couple months - used to lower level clientele and income bracket/education level. It became much more of a psychological game. I still had a lot to learn but at 21, I don’t think I was mature enough to overcome my image and I think it would be years before I’d gain enough maturity to be a rockstar there. I sold enough cars but only held gross on some of the cars due to their excellent procurement at low prices. I definitely burned off potential customers by hustling, talking a bit too much and not giving customers enough room to convince themselves. I missed my new wife and kid, I made enough money to turn a potentially disastrous young pregnancy into a nice, safe and stable life. So I found a 40hr outside sales position and left car sales. I highly recommend car sales to the young or to people who want to make a change to how they face life and take more control in getting preferred outcomes with people they encounter in everyday life. Actually, I could probably use a refresher. It’s been a while since I got my way in a customer service issue over the phone over anything and I’m a little quick to lose my temper. Patience and persuasiveness with a smile. It’s not my natural disposition, but you really can develop an alternate persona if you enjoy the feeling of success and you’re ambitious.
Those are some useful tips, but I love the “Gone in 60 Seconds” reference: “There are too many self indulgent wieners…”. There’s another key piece of advice you forgot to mention: “Two Rogers don’t make a right”.
"This is a beautiful color isn't it?"
This can be red
Darn loophole
you pulled John Ficcara's porsche 356 story.. ua-cam.com/video/IrdMjH5aNIk/v-deo.html
Ah red, some people say it adds value to your car tenfold
😂
Hahahahahaha!!!!!!!
Ed explains how he tricked his wife into marrying him
Dominic Niederkorn answer these three questions as quick as you can. Do you like being told you’re beautiful? Yes. Do you like diamonds? Yes. Do you want to marry me? Yes. 😂😂😂 Wait what??!!
Tricked? Tricked?
Come on. It was all skill.
@@crownspecialties hahaha
I require a video on this😂
With shrewd negotiations😂
Ed: "Yes this gorgeous car is for sale for $30,000
Buyer: Are you willing to budge on price? It leaks, paint is messed up, and it needs repairs.
Ed: "Sure, I can budge. $42,000"
Buyer: Ok fine. I'll take it!
Ed's shrewd negotiation tactics are very powerful.
MaxSpeed he has a powerful demeanor lol
Just goes to show that adding humor can adjust someone's rigid thoughts about what price they are "willing" to pay. That's why people tend to pay more in auctions, the thought of losing something they would clearly like to have, otherwise they would not make an offer. When someone raises the asking price, it's just as absurd as if someone offers a ridiculously low offer.
He knows what he’s doing for sure
My friend sold an old truck one time. Had it on sale for $1500 online, newspaper all the usual places.. This very rough looking character comes and looks at it. Drives it. Says "I'll take it. Will you take $1700 for it?. There was a sign in the window the guy was standing next to that said $1500 in 6 inch high letters. Buddy took the $1700 and his for sale sign and the guy left happy as a clam.
selling '95 miata, $10k firm, no lowballers i know what i got, ran when parked, just needs a fuel pump, bring your own battery, genuine rota wheels $2k extra or bring your own, heres one picture taken at night
Taken at night In the rain with my old flip phone camera.
*based on a real facebook ad I saw about a year ago)
----------------------------------------
2003 dodge ram
$25,000 OBO
I KnOw WhAt I hAvE
Smokes, bed is rusty (didn't have a bed on it), transmission jerky, checked the fluids a few years ago, only smoked meth it it a few times, only drove it to and from the corrections center and parole officer's office.
Need gone to pay for RV.
Don't waste my time
No Narks
------------------------------------------
Fucking crack heads dude...
Literally looked at a 240sx that had the same description minus the fuel pump 😂👍
I saw someone on a mopar Facebook group post someone who thought their 2008 charger pursuit 5.7 was a hellcat. I believe it was like 40k and they said it was an srt8 fastest on the fleet and when they put the hellcat badge on that made it a hellcat
Dylan Hale to be fair those common rail Cummins sell like hot cakes at way higher than expected prices
Ed: "Rock chips and interior wear are not big deals"
Matt Moreman: [Spits coffee on screen]
P WrightisRight this is the first UA-cam comment I’ve ever had to pause the video to laugh at. Well done!
*Spits coffee on his broken Apple Monitor Screen*
True OG'ers know Matt Moreman doesn't drink coffee
Lmao this is funny but who is matt moremam??
It would be interesting if Rob Pitts can also give us his tips as well when it comes to selling cars
Think he just did on his channel
Here is the rabbit version this guy mentioned
ua-cam.com/video/pHtu795WNP8/v-deo.html
Rob doesn't have any tricks all he has to do is talk with that chocolate smooth southern accent
Rob Pitts is the chuck Norris of car sales.
Jakob mom CNN
As a former automotive salesman I can promise you there is so much gold in this video. I'd show this to any new salesperson. Great stuff Ed!
Me watching WACO on Netflix - "Ed would be a good cult leader"
Brett Bilger do they talk about how the feds destroyed evidence in the documentary?
The shrewd davidians
I watched it when it was first released, I feel like no one else watched it. Glad it's getting the recognition it deserves on Netflix.
We need a vinwiki story on David Koresh's 68 camaro
🤣
Ed's 5 Shrewd Sales Tips
1) Depict the car accurately and honestly.
2) Fully document your car.
3) Have a story.
4) Deal with pricing properly.
5) Let the buyer talk.
Depict the car accurately & properly
Quick to the point description a description against the marketplace and the other examples of this car whats significant about the car and whats broken about the car
Tell them everything good and everything bad about the car
As you tell them the bad stuff about the car your gonna exaggerate the slightly bad things and your gonna minimize the significance of the really bad things
Document the car
Anything & everything from just having your mechanic receipts in the glove box to having it all documented on VinWiki
Have a story
Why are you selling the car?
People assume its because its a broken piece of garbage
Hopefully not but if so let them know they are buying a project, it will pay off in the long run
You've owned a bunch of these and just wanna own some more, your wifes making you sell it, you just had a kid and you need a backseat, your upgrading, you need to make room for more toys/projects
Dont just say im just testing the waters just seeing what i can get, give a real reason
Price the car reasonably
Get a real buy figure from carmax(-10% of normal auction price) or another dealer as your baseline and or home base
If its rare price it 20%-30% above market value if they are gonna be interested they will inquire and you can explain what you think its worth
The currency of a sales process is commitment so never be afraid of a lowball offer and never be afraid of justifying why youve priced the car the way you have
Dont be mad if someone says i will pay you this today for your car that exactly what you want to hear may not be what your gonna take but it atleast an invitation to have a real discussion about someone really owning your car
I priced the car inline with what I view the market to be based on these factors, I understand they you’ll want to pay less and get the best deal possible, I am flexible on price and am willing to negotiate, but at this point my flexibility is in the order of hundreds of dollars not thousands of dollars, so please let me know where you need to be and I'll do my best to make that work
Something along the line of im flexible but not that flexable
Once negotiations start dont get insulted by a lowball offer, and dont alienate a very committed offer just because your trying to stay so close to your desired price
Let they buyer talk
Dont give them a chance to say no to anything, get them to agree with stuff as much as possible
The more money you make on someone, the more they pay for something the happier they’ll be with it in the end
Let them talk, give them enough rope to hang themselves, Let them tell you why, explain to them why they’re correct and move them towards commitment to the purchase and they will be happy paying what they decided it was worth
If you have any other questions, feel free to ask them here and I will do my best to answer them throughout the day.
Should you include the"rare" or "hard to find " quotes ?
Ed I'm after my first Ferrari and have 80 thousand dollars what would you recommend.
Ed this is great sales advice for any transaction. Thanks for the tips!
From the buyer's side, is there any real way to persuade an unreasonable seller? I've been trying to find a new daily driver from a private seller for school/work, but all the sellers I've come across are crazy! They're demanding 40-60% over KBB/Edmunds private party values on realistically $7k-$10k cars! It's really frustrating because I can show them KBB, Edmunds, NADA, but they absolutely refuse to be reasonable. Is there anything a seller can do in this situation? It feels like nobody who has a car listed actually wants to sell it for anything remotely fair! Or that they think their 12 year old Lexus is some rare supercar that has held its dealership price tag for the last 8 years.
Ed Bolian I sold my dads 1976 Oldsmobile 98 regency coupe for 3,000 on Craigslist. Got 10 people trying to buy and sold for 2900 Friday morning to first person that came (listed Thursday night) does this mean I should have asked higher?
Tomorrow we will ask our panel of UA-camrs and Car Experts what dream car they would buy for $1M. Be sure to tune in!
Ed, Have you ever entertained the idea lf starting your own dealership? I could see it now, Bolian Motorcars.
@@natesimmons8241 I have, but you make more money being the top sales guy in most exotic car dealerships. You also don't have the risk.
$1,000,000? Huh?
American Big 3
Viper ACR $200,000
C8 Corvette $100,000
Ford GT (2006 era) $400,000
Use the rest of the cash to pay insurance, and to rent/buy a garage.
At a million bucks, this is going to be interesting.
Ferrari GTC4Lusso and a Tesla model 3 performance
When I started car sales back in September, I didn’t believe the whole “the more money you make the happier customer will be” until it happened the first few times. They typically are my happiest customers. The minimum commission customers are often the most unhappy and frustrated.
It's because people who can afford to spend more generally have more money and are less stressed about normal wear and tear. A new set of wheels and a brake job for $800 can almost total a $2000 car but is only 1% the value of an $80,000 car compared to 40% the value of that $2000 car. The owner of a $2000 car probably won't care about piece of trim worth $20 (1% of the 2k cars value) in the same way the 80k car owner won't care about the $800 charge.
Plus the buyers of cheaper cars are usually buying them out of necessity, without a car they may have no job, no income etc. It's like having a house with no power in the middle of winter.
Step 0 - be able to talk like this
practice
Gus Kipper Right his soothing hypnotizing voice will get you to buy anything. Haha
This is where my job comes into play. I speak for a living and am use to speaking people down
@@brandoncaldwell95 what do you do for a living?? And what does "speaking down" people mean??
I sold mine by driving it into a tree, the scrapyard gave a good price
Edit: I like how no one knows this is a joke 😂
*insurance fraud intensifies*
Haha nice 😬
Very good
Oooof
Either insurance fraud or a bad driver...... trees don't come outta nowhere.
"When it comes to the parts of the transaction where they need to trust you more: accepting payment, transferring title, taking delivery, NOT KILLING YOU. All the things you need a buyer to do..." This is why I keep coming back to your videos time and again. Thanks for all your hard work!
I tried to sell my car on Facebook Marketplace using nothing but emojis. Turns out describing it as a 💩📦 didn’t bring the offers I expected.
Underrated comment.
I learned more about sales here than those bullshit seminars!
Now we need “Ed’s top 5 shrewd buying tips”
Wasn’t that a great obscure reference to gone in 60 seconds? “ Yes”
What true car guy/girl would not want to be seen as a connoisseur?
Ed, the only man I know who aspired to be a used car salesman.
Ed's point about documenting everything is so important, regardless of what type of car you have. I save absolutely everything, even receipts for stuff like wipers blades and air filters. I've never once had a buyer not be exceptionally grateful to get a stack of service and maintenance paperwork with the cars I've sold.
Be sure to post them to VINwiki!
By keeping all documents receipts for literally everything proves you as an owner actually cares about a car.
Some car owners never lift a hood.
tbh, just finding excess receipts just feels to me like i'm not getting the documented history of a beloved car, but more that i'm getting a piece of the owners organization for their spending.
If i'm looking at a car, the only receipts for wiper blades i care about is if it's for the current ones if they were replaced recently. But then again, i'm a licensed mechanic so i probably know more than the average buyer what parts of the history is relevant for my ownership or not.
Ed could sell me a monthly subscription for the air I breathe and I would buy it based on shrew negotiation alone 😤
How to be a connoisseur
DID ED JUST QUOTE GONE IN 60 SECONDS 15:41.."MAYBE there is a lot of self indulgent wieners in this town"..Ed what else is in the warehouse???
He also just put it in there so calm and smooth, didnt even crack a smile, a true professional
I was thinking the exact same thing. So just skimmed the comments to see if anyone else noticed it.
It's always been a weird film in my mind. So utterly cringeworthy. The hero's are car thieves (In any other situation you'd want to watch them burn !!!!) But it's also really fun to watch.........
Sod it. I haven't seen it for something like two years now, So that's made the choice of what I'm going to watch tonight pretty easy ! :)
Caught that immediately lol
Mitchell Andrew Ed said that’s his favourite movie in his recent AMA.
Two Rogers don’t make a right.
I'd add item 5.1 (subset of #5)- World class listening. If the buyer is talking, you need to be really hearing every word and not simply be waiting to open your pie hole the second they shut up. One of the better videos this is Ed, well done.
This really makes me want to sell my car, even though I don't want to sell my car right now.
I am digging this Ed. I was told even as a young kid that I should be selling something. Sold drugs for over a decade before going straight, and have thought a lot about car sales. I like the chance to learn from someone I can trust.
Props for the "Gone in 60 Seconds" reference. :D
While Ed is focusing more on higher end cars in this, it still can convert to regular everyday drivers that poor people like me can buy/sell. My experiences with buying/selling cars online leads me to say these few things. Take like as tips or tricks if you like.
1. Know what you drive. It always amazes me to see people list cars for sale and spell it wrong, or even worse have the right model, but wrong manufacturer, or even have the complete wrong model listed.
2. Describe your car. Don't just put "car for sale." List make, model, mileage, basic condition, transmission type, etc.
3. PICTURES. Take pictures, and not pictures when it is 11 PM and you can't even see it. You also can't have it in a garage and stand 2 feet away and expect a good result. I always say when you are trying to sell your car pretend like you are taking a picture for a calendar/poster. It may not be a show car, but think about the way those cars are shot and take similar pictures. This will let potential buyers see every angle. Also take pictures of the interior.
4. Be honest. My brother is a guy who is addicted to changing cars all the time. He has went to look at some cars that were presented as "needing a little work" (which he isn't afraid of) only to drive an hour away to find out the car would be better off in a scrap yard. Any car I have ever sold I took pictures of any paint or interior defects. I went into detail about what the car needed. I am sure I scared off some potential buyers, but anyone who came to look at the car had zero surprises. No one left mad because they saw something they didn't expect.
5. List the car for more than what you want. If you have a A to B beater that you want to sell because you've upgraded and you really don't want to take less than $2500, then list it up for $3000. This gives you the wiggle room and makes a buyer think they got the upper hand when they get you to drop your price. They might even come in at $2700 and you get more than you wanted. Both parties win.
This is GOLD. The "yes" trick is amazing, I sell highline/exotic for living. Ed, can you put out a video on some of the things that helped your sales skills along the most? Negotiating, word tracks, dialogue, qualifying, etc?
Hearing Ed use a line from gone in 60 seconds made my day. Great videos from the whole vinwiki crew as always, definitely keeping me sane at work and home for quarantine.
Ed: here’s 5 tips for selling a car
Also Ed: here’s a tip on how to sell your app use
He shrewdly negotiated with my brain 😂
Ed: *oh yeah this is big brain time*
Such a shrewd negotiator
Love the “Gone in 60 seconds” quote lol
Any chance to use one.
Jason Morgan Hahahaha smooth how he said that quote
Beat me to it!! Ed nailed that!
@@EdBolian No 'That aint a tool...its a damn brick' quotes while working at Lamborghini?
Although it’s a car channel, I’m sure majority had no idea what he was on about
The guy who wrote "Never been parked underwater" on his ad😂😂
Honest, I was trying to miss hitting the seagull.
Thats good to know
@@Evo1313 wasn't it a pelican?
Tyler Hoover should watch this video.
Koji Takata he’s got plenty of daddies money to have fun with.
He's a adict, won't help him, will make it worse
@@theangryitalianscottypiffi1048 Thought Tyler had his own money?
he just sold another car to the wizard, and actually made a few bucks so hoovie is fine!
The Angry Italian Scotty Piffin1 when you run a channel with his viewership, he doesn’t need anyone’s money lol
Ed, I agree with everything you said. 100% Accurate. At the end, about someone loving it more because they wanted it is true too...
However when you are buying a "normal" car at a dealership... I absolutely hate these sales tactics.
As a semi-professional asshole that hates being manipulated when he knows he is, all these things are awesome to call out while in the dealership. Especially when escorting someone through a car sale. Remember, as you know the salesperson is only there as a fake friend. They hold little to no sales power themselves. They dont negotiate. They are not even the person you need to talk to. The problem stems from needing to talk to the backroom manager that knows the price, and getting them back down to the real world.
I hate buying from dealerships. Private party sales as often as possible.
Some salespeople are nice. I am nice to them. Some are aggressive. I equal their attitude. However the manipulative ones are my favorite.
they try to get you to come inside by talking to you, turning and walking in. Stop. let them walk to the door. You can have them come back. Or better yet, someone else.
They try to talk about the car by what they think you like on it. Shit on that. "This car gets great gas mileage" not compared to X.
Not to just be an ass about it, but it helps keep the person you're with grounded. They hear car does X, remind them all cars do X. etc.
but the big bad guy is not the salesperson. Its the finance guy. Watch him. He is enemy number one. Be prepared to actually READ.
Absolutely outstanding “Gone In 60 Seconds” reference! That made me smile from ear to ear.
I’ve been a car salesman for about 4 months now. I can definitely use some of these tips, especiallyyyy the last one. Letting the buyer talk will allow them to tell you exactly how to sell them the car
Me selling my Mazda 3
Buyer: "I was also looking a few Ferrari's."
Me: "Well sir, you can buy this mazda for the same price as cheap set of rims for a Ferrari. Can you drive with just those rims? No, you cant. So how about we do the paperwork."
Buyer: "Yeah ok."
Me: Shrewd Negotiator
I’m selling my Mazda 3 too rn.
Some of these things are happening to me right now when trying to buy a car from FB marketplace. I asked if their price was firm and when they said "I know the value, please understand the value of this" on a mass produced car .I already knew this person wasn't serious about their selling their car. I can't wait to see it 4k-5k cheaper than what they listed lmao.
I too am in sales. Ed could do little else to present the best possible image of a situation. He is clear in that honesty is key but building a story truly sells. Great stuff as usual!
Thanks! Good luck getting some out the door today.
Ed sounds a lot like the trainer I had when I broke into real estate many years ago. Especially about "let the buyer talk". In our case it was when showing a house "walk behind them and watch for buying signals" .
Speaking to #4 point -- I have bought and sold over 30 vehicles personally in 10 years, when people say how flexible are you on price - my line is, I am flexible but not a gymnast. That has worked great! Creates a laid back/comical atmosphere, we always make a deal.
Nice video, I think one thing that I have learned is to be firm and direct but polite. This helps during purchases and sales as well as everyday life.
I was recently looking for a new car (a couple of months back and i ended up buying one) and after watching this and reflecting on my own experience, every dealership i went to prior to the one i ended up buying from, not one of the salesman did anything you just said and ended up walking away without the intention of going back to every single yard. I'd also like to add something from the buyers end, when you shake a potential clients hand, make it a good one. not too firm but also not like the loaf of soggy bread i was greeted with at one yard. showed very little confidence in the salesman.
Isn’t it nice out today? Yes
Isn’t this a great interior? Yes
Isn’t this what dreams are made of? Yes
Do you have the money for this Lambo? Yeah do you do 100 year financing?
How does someone avoid letting the idea of "Never let them say no" cloud their judgement of the other tip to "Let the customer talk"?
This sticks out to me as something a lower-experiences salesman could get their mind in a knot over and potentially have panic moments during a potential sale.
Shoehorn number 3 in there as a plug and to tell people to leave you alone. That was slick
This is all great advice, but it's not new to me which actually makes this video worth the watch! You don't know how happy I am to hear that this is what Ed suggests which is exactly what I have used to sell quite a few cars. My friend and I have people asking us to find them cars, that is how well this works. I have had people coming back saying "Yep you are right, I'll pay for that repair you talked about when I bought the car." Just be honest, don't lie about what's wrong with the car. People do research now days, and they get those google hits of the top things that go wrong with cars, do that search! Get ready to explain why those top 5 things aren't an issue, or that they are an issue!
Shrewd kneegotiator
I see what you did there.
Coffee is for closers! Lol Thanks for the knowledge, Ed -- I've seen countless videos on this channel, and while all have entertained, THIS is by far the most useful.
"Not killing you" if this statement alone cannot be determined you have a slight problem lol
Ed could sell a glass of water to a drowning man.
Ah, the negotiator
cough cough cough
The gone in 60 seconds reference was pure gold
I love the “Gone In 60 Seconds” reference.
That draco verde looks so nice on that Murcielago. Then that grey with red, such a smooth combination, yet striking.
“Not killing you” like it, nice job 👍 one of my favorite channels
One of the best videos on this channel definitely. Gonna watch it every time i go to sell something. My selling pep talk. Lol
Here I am a year later watching again. Selling another car tomorrow. Thanks Ed!
Last time I was this early, Ferraris were still rare.
I feel like one of those young dudes in wolf of Wall Street being tought how to sold stocks......but a lot less greasy feeling of a teacher.
Thank you
Ed!!! Great video and advice on the sales process! Loving the videos and car stories. Keep them coming! :) Confidence (as you have said before) also goes a long way.
Ed is so well spoken and full of amazing knowledge. Simply the best on UA-cam - especially in automotive!! Thank you for being incredible, Ed
Good advice, I use a lot of these practices in yacht and boat sales daily.
The Gone in 60 Seconds reference was great.
15:41 - we all chuckled visioning Cage say it.
7:35 to 7:58 Yes! I'm going through that now on a vehicle I bought new 22 years ago.
Ed: good listing 2:00
Me: remembering his car trek gallardo listing
10/10 sales strategy even outside of the car sphere, glad to see this and happy some of my sales strategies also worked in my previous sales lol
I’m seeing a lot of ads for MasterClass, so I’m thinking it’s about time for Ed to offer a legit MasterClass of his own! I’d take that class!
Also you can say "i have someone else that is interested. if they dont respond its yours." afterwards keep the ad up on the site and if a higher price comes up take it
At first I thought this was a MrTrashForTheBin (MrBossFTW) video on the GTA Online Import/Export DLC that came out years ago, then I saw VINwiki and was like, "Oh these people actually know what the hell they are talking about, AND they put real effort into each video of theirs".
Gotta be honest Ed, I used to love Sales. I spent five years selling Harley-Davidson, then went to car sales... All it took was a bad manager to burn me enough that I went to work in a factory. Watching your videos makes me want to give it another try.
Ed, you crushed it with this one. So much good info.
This man is out here playing 4-D... maybe even 5-D, chess in the car sales game.
Wow just wow. You’re the best salesman/buyer I know had me amazed the whole time 😂
That gone in 60 seconds reference was just great.
God... You did it all in one take AGAIN, didn't you Ed? EDITORS ARE GOING HUNGRY ED BOLIAN!! THINK OF THE STARVING EDITORS EDWARD!!!
Hearing "Lamborghini Store" feels weird. As if one just takes a quick run to the store to pick up a Lambo.
Well, doing a quick run into any other dealership and leaving with a new car that same day is still weird to me.
Well, a 5 year old recently tried
Man i wish i even had enough money to go to walmart to get my oil changed. Ive checked the levels and have added 2 quarts of synthetic over 24,000 miles. ALL highway miles but i feel sooo bad :((
My dad is quite the renowned used car salesman where I live, and a friend messaged him struggling to sell his Ferrari 360.
He asked; "What am I doing wrong? No one's calling."
He went through the ad where he wrote it needed to replace the timing belt.
He answered; "Remove the fact that it needs to replace the belt, tell them on the phone instead once they've reached out to you. It's easy to exclude your car as an option, but telling them once they're on the hook makes them actually consider it."
The car was sold that same week.
Sage advice from a consumate pro... The YES thing 100% works, I used it all the time when selling Bang & Olufsen hifi years ago....
These types of videos are some of your best, Ed.
Gone in 60 seconds line is prefect lol
"You would not be a self-indulgent wiener, sir. You would be a connoisseur."
Just sold my first car. Thank you so much for the help Ed! The knowledge you gave me made everything go so much better 😊
"We welcome PPI".
First sign of an A1 car salesman.
Very interesting and helpful, Ed. Can't wait to hear others in this series.
Sharing this ! So many people can't even get the basics right !
Excellent presentation...THANKS!! One thing I wish you would have covered is allowing test drives for rare cars...especially with manual transmissions. I've given a few test drives only to walk away (as the passenger in my own car) shaken. How (or do you) properly allow test drives for personal cars?
Make sure you’re documenting the car and doing the things they need you to do such as not killing you.
Love the channel!! Loved the gone in 60 seconds quote snuck in there lol
and when the buyer says "Iz gots a settlement comin" better hold off on the test drive..
I loved that gone in 60 seconds reference I don't think anybody got it
Not killing you - Pro tip of the year 😄
I love the gone in 60 seconds reference.
100% agree with your statements. Greetings from a Mercedes Benz Salesman from Germany.
My man with that smoooth Gone in 60 Seconds reference at 15:40
Wow Ed, great video! I’m more of a buyer then a seller (I have 13 cars currently lol) but it really annoys me when I send someone a low offer and they refuse to negotiate, I either don’t get a response or I get a “no” response! Some people seem to lack basic negotiating skills, I can think back on several cars I would’ve bought if the seller would’ve just got back to me with a counter offer.
Let them talk, and listen to what they say. My first new car purchase, back in college, caused one salesman to lose my business, and earned another man a commission. I told both exactly what I wanted and what I could afford. One insisted on showing me the fully loaded crew cab truck, while the other pointed me towards the two trucks on the lot that met my specifications, and told me where his office was. Guess which one got the sale.
I sold cars when I was 19-21. Honda dealer (mainly used) and then the used side of a Lexus dealer. This was just as the internet began changing the business. So many hours! Minimum 65-70 hrs/week and Ultimately why I quit, never seeing my young toddler. But I had so much fun. The psychological aspect was the most interesting part. And the thrill of the kill and rush of holding gross and making big checks at that time in my life. I gained so much knowledge in that short time that I knew I could apply in all aspects of the rest of my life. Soon after used same skills to flip a foreclosure for enough to put a down payment on the house I still live in 20 yrs later. All with no experience but the tactics and confidence I projected in car sales. I was surprised how few Honda sales guys had the mental awareness and discipline to exercise the concepts they should’ve been learning. NPC’s really - just burning off potential sales with the memory of a goldfish. But the used Lexus sales force was far different. Youngest person selling was in their mid 30s but most around 45-50 yrs old, aside from my 21 year old fresh face. My finance director took me over with him and vouched for me. Their inventory was superb and varied. I had difficulty slowing the process down for a couple months - used to lower level clientele and income bracket/education level. It became much more of a psychological game. I still had a lot to learn but at 21, I don’t think I was mature enough to overcome my image and I think it would be years before I’d gain enough maturity to be a rockstar there. I sold enough cars but only held gross on some of the cars due to their excellent procurement at low prices. I definitely burned off potential customers by hustling, talking a bit too much and not giving customers enough room to convince themselves. I missed my new wife and kid, I made enough money to turn a potentially disastrous young pregnancy into a nice, safe and stable life. So I found a 40hr outside sales position and left car sales. I highly recommend car sales to the young or to people who want to make a change to how they face life and take more control in getting preferred outcomes with people they encounter in everyday life. Actually, I could probably use a refresher. It’s been a while since I got my way in a customer service issue over the phone over anything and I’m a little quick to lose my temper. Patience and persuasiveness with a smile. It’s not my natural disposition, but you really can develop an alternate persona if you enjoy the feeling of success and you’re ambitious.
Good morning my VinWiki people!! Starting the day off right with my coffee in hand!!
Its 4pm my Boy, nothing morning
Flintbeker I’m not ur boy son and in America when the videos are released it’s 9am in Texas and 10am in Georgia not everyone is we’re you live son!!
Those are some useful tips, but I love the “Gone in 60 Seconds” reference: “There are too many self indulgent wieners…”. There’s another key piece of advice you forgot to mention: “Two Rogers don’t make a right”.