What is a dealer lot Pack?
What is a dealer lot Pack?
Pack – Describes the amount of marketing and overhead costs allocated to a vehicle. The total pack reduces the commissionable gross on a deal like this: A vehicle is sold for $2,000 gross profit, though because it has a $500 pack, the commission is calculated on only $1,500.
How dealers finance their lot?
THE FLOOR PLAN – Dealers own the cars on their lot in the same way that you own a house with a mortgage. New cars on the dealer’s lot are financed under arrangements called floor-plans. Most floor-plan lenders are commercial banks and manufacturer owned finance companies.
Do dealers ship to other dealers?
Yes, they do! Dealerships are willing to deliver your vehicle to you wherever you live. Whether it’s another state or just across town, having the dealership bring the car to you is convenient and beneficial for everyone involved.
Where is the largest car dealership?
If you’ve ever wanted to know which car dealer is the world’s largest, here’s your answer: It’s a dealership called Longo Toyota, it’s located in El Monte, California (in the Los Angeles area), and it’s truly, unbelievably, absurdly massive.
How can I get a dealer to drop the price?
Tips for Negotiating With a Car Salesman
- Dress like you want to be taken seriously.
- Do your research so you know what you want.
- Know what you can pay.
- Work with the bank or credit union yourself.
- Be upfront about what you want.
- Don’t be upfront right away about what you can spend.
What is a floorplan loan?
Floor planning is a type of inventory financing for large ticket retail items. Retailers use a short-term loan to purchase inventory items, and the loan is repaid as inventory is sold. Floor planning is especially used in car dealerships and for major appliances.
Can I take my car to any dealer for service?
This means you can take your car to be services or repair wherever you want without losing your warranty. “You can service your car at independent service providers without voiding your warranty. Vehicles within the warranty service are locked in to use the dealership but they can now go to independent providers.”
What is the most successful car dealership?
Ranked by 2019 new-vehicle retail sales
| 2019 total new retail vehicles | ’19 rank | |
|---|---|---|
| AutoNation Inc.* | 282,602 | 1 |
| Penske Automotive Group Inc.*# | 222,800 | 2 |
| Lithia Motors Inc.* | 180,532 | 3 |
| Group 1 Automotive Inc.*# | 169,136 | 4 |
