It's on like Donkey Kong: Jilted Hyundai Genesis Coupe buyer jilted again, lawyers up — Autoblog

It's on like Donkey Kong: Jilted Hyundai Genesis Coupe buyer jilted again, lawyers up — Autoblog

This blows my mind. Does Glenn Hyundai of Lexington not realize they're just getting blasted everywhere on the internet. Every Hour that goes by with them doing nothing and not rectifying the situation their reputation is getting destroyed.

As a dealer it's others like this that make everyone in the industry look bad. The loss they may take on the car is nothing compared to the loss of respect they're getting from current and future customers. You made a mistake in your listing. Just step up, admit it and sell the vehicle for what it was won for in the auction.

Dinosaurs still roam the Earth

Since I have the pleasure of being an Internet director at a car dealership I get to spend a lot of time surfing the world wide web. Even though I may spend time on sites that are not totally related to the automobile industry, and by totally I mean not at all, I do look at many dealership websites.

The one thing I've noticed everywhere I've looked is that the car industry seems to be back in the stone age when it comes to the Internet. Not that dealers don't have nice sites or they don't have some other media on the Internet, I'm not talking about that at all, but have you noticed that you can't purchase anything from them on the Internet?

I've looked at tons of dealer websites and not once have I seen where I could buy even a part on the Internet. There may be a few dealers out there that have sites that you can buy things on but I haven't come across them yet. How many retail establishments out there can you not buy something online from? I can buy clothes, electronics, groceries, and, get this, car parts from other vendors, but I can buy nothing from a dealer website. Yes that is a short list of things you can buy because you can buy virtually anything.

So the question is, "How come I can't make any type of purchase on a dealer website?"

Here's a thought I had today as I pondered this. Scion, a brand put out by Toyota as a no haggle no hassle buying process, can't just be purchased online and picked up at the dealer. Even though the pricing is all set on menus by the Toyota dealership selling the Scion so everyone pays the same amount. It would seem that this would make the buying process so much easier for the customer as well as the dealership.

I know it's not as easy as it sounds. The car industry has made the buying process the way it currently is. I have to add that the customers have as well though. What if a dealer placed a shopping cart and checkout on there site and priced cars at the lowest amount to make some money and also get the customers a price they agreed with. Would people purchase a car that way, or is there so much mistrust that consumer would still want more off the car? Would the fast and easy process of buying be worth it to both sides?

People purchase vehicles off eBay all the time from people 100s of miles away. Why not be able to purchase a vehicle right down the street the same way.

My time is important to me and if I can keep from spending a ton of it in one place doing something that shouldn't take near as long as it does I'm all for it. What are some of your opinions on it?

Car Lingo 101

I think a lot of confusion arises from terminology that is used often at a dealership. There's words, phrases, and acronyms that are said or written that people working in dealerships use all the time but everyone else doesn't. Some of the time, and that may be putting in mild, dealers use these to there advantage or disadvantage as it often turns out. Here's a short run down of a few and what they mean when you see or hear them.

Difference (often written DIFF) - this is the difference between what you are paying for the vehicle you are purchasing and the vehicle you are trading in. This number does not include your payoff on your current vehicle.

Amount to Finance (ATF) - the total amount your financing on the vehicle. generally includes all fees, but sometimes you may need to verify that it does.

Trade values are some of the biggest areas where misunderstandings occur. Mainly all the dealers fault when they do.

Actual Trade Value (ACV) - this is what your trade is actually worth, hence actual trade value. A lot of dealers like to use trade allowance as wording instead though. This of course means something totally different.

Trade Allowance - an over allowance includes part (or all) of the mark up that is on the vehicle you are purchasing. This will make your trade figure look inflated. So if someone is saying they're allowing you a certain amount it is generally over the ACV of the vehicle your trading in.

Upside down (which everyone pretty much knows that one), hooked, tanked, buried - are all terms meaning someone owes more on their vehicle than it is actually worth. That is actually a very common occurrence now a days. Usually resulting from finance terms or someone trading in a vehicle and having to carry a remaining balance over to the new vehicle they are purchasing. Can also be caused by not putting any money down with the purchase of a new vehicle since vehicle begin depreciating when you drive away in them.

Discount - seems pretty simple but many get it confused with rebate. A discount comes from the dealer discounting the vehicle. Rebates are given by the vehicle manufacturer. Not the same thing.

WAC - with approved credit. You see that mainly in advertising. Usually having to do with an available interest rate that is tied to your credit score.

Did you know that different businesses view different versions of your credit. Two separate businesses (in different industries) could both pull your Equifax and see two totally different numbers and some different information. Lenders look for different information depending on what you are applying for a loan for. I've never seen any drastic difference but they do occur.

Even though this is a small list it should help with communicating better at a dealership. Many times we don't take the time to fully understand what the other person is saying, and that's with everything. We either don't ask what is exactly meant, or if we're the ones doing the talking, we don't make ourselves clear. All aspects of life would benefit from everyone better communicating with each other.