Have you been considering a new BMW but only have enough coin to buy one of Bavaria’s finest? At least one BMW dealer in the U.S. might have a solution.
If you don’t mind buying a new BMW that’s been languishing on the lot for a year, Century West BMW will throw in a lease on a BMW i3 on the house.
How old do you think the average new car buyer in America is? Go on, take a guess. Based on all of the ridiculous advertising strategies you see lately, you might think that the average new car buyer was a hip, trendy, Generation Y hoopy frood, wearing his beanie to buy organic, fair-trade coffee at the Park Slope Starbucks. (Confession: I went to the Park Slope Starbucks daily during the New York Auto Show this year. Parking was surprisingly easy.)
But no! According to the NADA, the average new car buyer is 51.7 years old, and earns about $80,000 per year. In comparison, the average age of Americans is 36.8 years, and the median income is roughly $50,000. In other words, Baby Boomers are buying all of the new cars right now. There are all sorts of people on the Internet who will tell you why this is a horrible comment on today’s bleak economic landscape (oh, here’s one), but I’m here to tell you that the future of new car sales could be changed with just a bit of clever marketing.
Spending hours or days negotiating for a vehicle can be a taxing experience, so reaching an agreeable price feels like a big accomplishment for car shoppers. It seems reasonable to let your guard down and relax as you enter the F&I office to finish up the paperwork, but that can lead to a big mistake.
The finance manager or clerk will start going over the paperwork, representing the car as sold and financed while showing you a specific rate. You skim through the mountain of paperwork and quickly sign all of the forms so you can drive off in your new car.
At this point, most people are brimming with excitement — they show off the car to their friends and family and share pictures on social media — but that jubilation can quickly be deflated with a call from the dealer telling you that the financing has fallen through and you don’t own the car after all. (Read More…)
Automotive search startup AU.TO is getting into the mobile game, and it wants you to find your next car in the same way you judge members of the opposite (or same) sex — at the swipe of a thumb.
AU.TO’s newest initiative is called Wyper (rhymes with “swiper”), and the company bills the app as “Tinder for Cars.”
I found this interesting, so I asked a few questions.
On May 4th, my friend “Jenny” (whose name is changed for the sake of her privacy) could not contain her excitement. She posted the photo seen above to Facebook, sharing with her friends that she had just bought what she believed to be a brand-new 2014 Kia Soul from Orlando Kia West. She got what she also believed to be a rip-roaring deal, too, paying $4,000 under sticker.
Although the car was a 2014 model with 530 miles on the clock, Jenny said the dealer claimed it had never been sold to a private customer, but Orlando Kia West had to list it as a used car because it had purchased it from another dealer.
The minute I saw that, I immediately knew something was up. I contacted Jenny and asked her some questions about her experience. Fifteen minutes later, we were both furious.
Through the first-quarter of 2016, U.S. auto sales volume grew 3 percent compared with the same period in record-setting 2015.
Mazda’s U.S. sales have fallen 17 percent, a meaningful decline of 13,399 sales over the course of only three months.
Something isn’t clicking for Mazda. (Read More…)
TrueCar, the prolific third-party car shopping site, is changing the way it does business in the hopes of mending dealer relations and reversing the company’s flagging fortunes.
When TrueCar president and CEO Chip Perry took the helm of the site last December, his stated goal was to make amends with ornery partners and bring the company out of a period of turmoil.
Carfax has become so commonplace that it’s now standard practice for many car buyers to ask for it when shopping for a used car. Its database has grown over the years to the point that it now claims to to have the most comprehensive vehicle history database in North America.
The reports include such valuable information as title brands, accident history, and even service history for some vehicles, but it has some limitations that unscrupulous dealers are using to their advantage. The missing data allows these dealers to represent damaged cars as clean and use the Carfax report to support those claims.
The Internet brings transparency to the car buying process and allows us to search the whole country for our favorite car. While shopping for a WRX a few months ago, I got quotes from dealers as far as 1,500 miles away. I ended up skipping the local dealers and travelling to a dealer 80 miles away in order to get the best price.
Leaving your immediate geographical area can be beneficial in many instances, especially if you can find a more competitive market that’s reasonably close. Unscrupulous dealers have caught on to geographical buyers who are only looking for the lowest price. These dealers combine geography and psychology in order to dupe buyers to come in and often get rewarded for their shameless behavior by making the sale.
When I was a kid, there was a plentiful selection of automobile choices for old people. There were Buicks. There were Cadillacs. There were Lincolns. There were Oldsmobiles. There were even a few Japanese cars that clearly catered to the elderly. “Enlarged Speedometer Font” was an actual option on more than one vehicle when I was younger.
But what about today?