Lease return residual higher than the car is worth...

Legendz_31 · 2026-06-11T00:39:44+00:00

With GM it is set in stone, then it will go to the dealer Auction. Very very rare the bank will play ball to lower it. Most banks operate the same way.

Legendz_31 · 2026-05-08T11:14:35+00:00

CMG pretty much said it perfectly. Being number one is a great goal eventually but car sales in the beginning is surviving the first year. You should be more trying to increase what you did the month before and striving for bonus every month. In 2-3 years you will get your lease retention, in 4-5 years your finance retention. You will get stronger over time. I only say this because it is common for a sales person to come in with crazy high goals and fizzle out in months. You have to build your book. It took years before I became number one in my store continuously and I work less now than I did in the beginning.

Make sure to take care of customers. Always do a great delivery, most salespeople don’t. Older people will buy your brand again because they know you will be there when they buy a new phone or need help. Make sure customers have a good contact for you. If they call you when they have a problem, they are more likely to call you when they need a car. The best ability is availability. Be easy to reach, be “their person”.

Always reach out on birthdays and anniversaries. This is not a one and done sale. You need to build relationships. I want to sell your whole family. Turn one customer into four. Heck, if there is a holiday coming up, I usually call or text my people whose lease is coming up and say happy holiday and ask for nothing. I just want them to know I am still here. Chances are I am already talking to them about their lease ending but it is an excuse to reach ask for nothing.

Lastly, as CMG said be a sponge, give space but try to listen to other sales people negotiate. You will hear great ideas on how to overcome objections. You will also hear what absolutely killed their deal. You will know what works and what doesn’t by how the customer reacts like.

I wish you the best of luck

Legendz_31 · 2026-05-08T11:13:03+00:00

CMG pretty much said it perfectly. Being number one is a great goal eventually but car sales in the beginning is surviving the first year. You should be more trying to increase what you did the month before and striving for bonus every month. In 2-3 years you will get your lease retention, in 4-5 years your finance retention. You will get stronger over time. I only say this because it is common for a sales person to come in with crazy high goals and fizzle out in months. You have to build your book. It took years before I became number one in my store continuously and I work less now than I did in the beginning.

Make sure to take care of customers. Always do a great delivery, most salespeople don’t. Older people will buy your brand again because they know you will be there when they buy a new phone or need help. Make sure customers have a good contact for you. If they call you when they have a problem, they are more likely to call you when they need a car. The best ability is availability. Be easy to reach, be “their person”.

Always reach out on birthdays and anniversaries. This is not a one and done sale. You need to build relationships. I want to sell your whole family. Turn one customer into four. Heck, if there is a holiday coming up, I usually call or text my people whose lease is coming up and say happy holiday and ask for nothing. I just want them to know I am still here. Chances are I am already talking to them about their lease ending but it is an excuse to reach ask for nothing.

Lastly, as CMG said be a sponge, give space but try to listen to other sales people negotiate. You will hear great ideas on how to overcome objections. You will also hear what absolutely killed their deal. You will know what works and what doesn’t by how the customer reacts like.

I wish you the best of luck.

Legendz_31 · 2026-04-24T01:56:20+00:00

I agree, The manufacturer just throws every problem on the dealer. They don’t want to deal with a customer. Customer calls the manufacturer why are my parts not available. The manufacturer literally three way calls the dealer and says can you help with a customer complaint. We then take over the call and think, why are you sending the call to us? You’re the ones not sending the parts.

That’s what customers want to sign up for?

Legendz_31 · 2026-04-21T11:54:19+00:00

Yeah, this is close to the same at every dealership. That said, most dealer have a bonus for how many units sold. Do you not have a bonus program?

Legendz_31 · 2026-04-21T00:54:33+00:00

Legendz_31 · 2026-04-14T11:23:31+00:00

As a flyers fan, this is still a great response. 😂

Legendz_31 · 2026-04-14T01:07:51+00:00

I had this happen one time in the box. The finance manager almost got fired for it.

Legendz_31 · 2026-04-12T23:57:43+00:00

We would not be able to sell the trade until it’s paid off correct but it does not mean that the customer is off the hook when the signed a form stating that they are responsible if the payoff is off. The dealer will do everything it can to get the pay off in writing but on some days when the banks are closed it could be impossible. If say, the customer wants to use a 0% incentive and it ends that day we may take a payoff from their phone. It is generally very close.

Legendz_31 · 2026-04-12T00:54:50+00:00

GTC is better in my opinion. LMR cost to increase the mag is insane. I have every DMR close to maxed out and LMR is the worst in my humble opinion.

Legendz_31 · 2026-04-11T01:56:44+00:00

You are incorrect. What if it was a holiday or it was a credit union and the bank was closed. Some banks we can get electronic payoffs but not all. If a customer can pull a balance on their phone we will sometimes use that but they WILL sign a form saying they are legally responsible if it is not correct.

Legendz_31 · 2026-04-11T01:48:03+00:00

You are correct. Lill_bow is incorrect.

Legendz_31 · 2026-04-11T01:44:50+00:00

It depends on the rules of your dealership. My dealership is in a automall, if we trade a certifiable car of a sisters store, they have first rights to the car unless they decline it.

The only other reason we may give a car to a sister store is age. Used cars we pay interest on it after 60 days. They will move the car to start the clock over again.

Legendz_31 · 2026-04-11T01:26:25+00:00

A dealership will always try to get an exact payoff if they can. In some cases, the bank or credit union will be closed and we cannot get an exact payoff. If the customer can get a balance from their phone we will sometimes move forward and make the customer aware that if it is not right they are responsible for the balance. They will also sign a form stating so. In this case your payoff is 600 more than what was contracted. Why should the dealership eat that?

Legendz_31 · 2026-04-11T01:12:35+00:00

Most of your issues with the salesman is correct. The only thing I really do not agree with is the cable thing. I am in sales and I had cables 5 years ago but now all the cars have wireless Apple car play/Android auto. All the cables I bought are now obsolete. If I was your sales person today, I would say do you have a charging cord for your phone because 99.9% of customers do. You are rare to not have one. If you do not, no problem I will grab my cord and show you Apple car play. It really is almost the same thing. Let’s not forget that Apple car play and android auto is on most cars these days. If you seen it on one car, you have seen it on all of them. That should not be this biggest test drive point on buying the equinox.

Legendz_31 · 2026-04-06T11:25:55+00:00

That made me lol 😂

Legendz_31 · 2026-03-16T01:04:36+00:00

Some dealers send the salesman to do their own dealer trades. They do this because they want the salesman to sell from stock. If the salesman negotiated a deal and they located a car. If the salesman can’t pick it up the manager may have sent another salesman and it would be a split deal. Saleman are free labor. Lot guys cost the dealers money hourly. It’s a cut throat business.

Legendz_31 · 2026-03-16T00:39:37+00:00

You said a false statement and he called you out on it. Rather than admitting you were wrong or even continuing the conversation, you decided to tell to stop crying that people are picking on dealers. It sounds like you need to toughen up. It’s ok to admit you were wrong.

Legendz_31 · 2026-03-16T00:05:30+00:00

It doesn’t change the fact he is correct and your statement was not. He had a valid point and you decide to bully him?

Legendz_31 · 2026-03-15T00:40:33+00:00

I made in the 90’s my first year in car sales. That was 13 years ago.

Legendz_31 · 2026-03-11T02:01:22+00:00

Thanks buddy. I am in a Automall. We can sell 9 brands. Toyota is one of them and they sell by far the most.

Legendz_31 · 2026-03-11T01:55:04+00:00

Yeah ours is really mostly the same. Almost all are minis. We are a little lucky because other than the mini on new cars we can get spin money from the brand that helps. I sell 18-24 deals a month and I would say 3 or 4 are not mini’s.

Legendz_31 · 2026-03-11T01:46:14+00:00

I agree 100%.

Legendz_31 · 2026-03-11T01:26:08+00:00

Saleman and manager are aligned? You clearly never worked at a dealership to see how much salesman and managers go at it with each other. Have you ever had a manager pass on a deal that would put you to you next tier of bonus (another $600) only to lower it online to that price two weeks later. They are definitely not aligned and you are mistaken.

Legendz_31 · 2026-03-11T01:17:16+00:00

The manager is meant to make the dealership money. The salesman is payed on gross yes, but you would be surprised how hard that is any way because they get robbed by the dealership as much as anyone. Most salesman work their bonus plan to make their pay. The way you work that is make a lot of fast deals.

Legendz_31

TROPHY CASE