Do you operate a car or truck dealership business? If so, you’re probably well aware of just how painstakingly slow the sales process can be. It’s not uncommon for consumers to spend three or four hours finding the right vehicle, negotiating a price, obtaining financing, and completing all of the necessary paperwork. This can easily bog down even the well-run dealership, costing it sales and customer satisfaction.
Demystifying The Sticker Price
One of the most time-consuming aspects of buying a new car is negotiating a price with the dealer. Just because a car is listed for $21,500 on the sticker price doesn’t necessarily mean the dealer will only sell it for that amount. On the contrary, most sticker prices are virtually meaningless, with its primary purpose being used to convince the consumer that they are getting a good deal through negotiations. But negotiations take time, lots of time, slowing down the dealership’s normal operations.
Another problem associated with bogus sticker prices is the effect it has on consumers. When a person goes shopping for a new car, he or she wants definitive answers regarding the price. In fact, a survey conducted by CarFinance.com found “price haggling” to be the most hated part of buying a car, with finance negotiations coming in a distant second.
According to The Wall Street Journal, many auto dealerships are shifting away from bogus sticker prices to a more transparent pricing model. AutoNation, for instance, is now basing sticker prices on market data (e.g. what consumers are willing to pay) rather than the automaker’s suggested retail price. This doesn’t necessarily mean that negotiations are eliminated from the car buying process, but there’s less confusion surrounding the bottom-line price of cars being sold.
Hiring More Employees
Another helpful tip that can speed up the car buying process is hiring additional employees. If a dealer is short-staffed on the weekend, which is the prime time for car shopping, they may get bogged down. The average car buyer asks numerous questions before buying a car, and in most cases, he or she will also want to test drive it. All of this takes time, which means the dealer needs adequate manpower on hand to meet the demands of shoppers.
Car Buyer’s Checklist: What To Bring
Buyers should come prepared when shopping for a new car or truck. Bringing the following items will expedite the process, ensuring a fast and smooth delivery:
- Driver’s license – not only will buyers need it to legally drive off the lot, but it also serves as a form of verifiable identification.
- Title for trade-in – if the buyer intends to trade in his or her current automobile, they should bring the title for it.
- Registration for trade-in – same as above, trade-in automobiles should have the registration.
- Proof of insurance – dealerships are required by law to check and make sure the buyer has insurance before he or she drives off the lot. The good news is that buyers can often obtain car insurance over the phone. The bad news is that this time, lots of time.
- Payment – I know this probably sounds like common sense, but it’s still worth noting that buyers need to bring a valid form of payment if they intend to purchase a new automobile. Accepted forms of payment vary from dealership to dealership, so buyers should call ahead of time to determine which forms are accepted.
Note: if the buyer intends to trade in his or her current automobile, the dealer should request they remove all personal belongings ahead of time. I know this probably sounds like common sense, but some drivers practically live out of their car, using it to store clothes, school books, groceries and more. These items must be removed before the dealer can complete the transaction.
Does a Bill of Sale For a Car Require Notarization?
This is a question many first-time car buyers ask. In order for someone to legally take over ownership of a vehicle, a bill of sale must be initiated. This legally binding contract outlines the detail of the transaction, stating that the seller (dealer) agrees to sell the specified vehicle for said price to the buyer. A typical bill of sale used in automobile transactions includes the date of sale, name and address of buyer, description of the car, the car’s vehicle identification number (VIN), and odometer reading.
Notarization is designed to serve two basic purposes: to validate the signer’s identity, and to ensure he or she are signing of their own free will. The notary public checks the ID of the signer and watches as he or she signs the document, which in this case is a bill of sale. So, does an automobile bill of sale require notarization? According to the automobile website CarsDirect.com, six states require notarization on bills of sale: Louisiana, Maryland, Nebraska, New Hampshire, West Virginia and Montana.
Use a Mobile Notary
If the bill of sale requires notarization, one option is that dealers use the services of a mobile notary. As the name suggests, mobile notaries provide services at a location of the client’s choosing. Instead of forcing the buyer and a representative from the dealership to visit a notary’s office, the mobile notary will come to the dealership. And because mobile notaries often have busy schedules, dealers should contact them ahead of time to schedule the bill of sale’s notarization.