Thursday, August 13, 2009

Car Dealer Lingo: take II

Real Deal Auto, August 10, 2009 (just ahead of trade-in time), including
Oddball Split

Often confused as a billiard term, but in car industry is a closing tactic. You have a difference figure between the price of the car and the counter offer form the customer. Example: sale price is $20,000 and the counter offer $19,000. The salesman says “why don’t we split the difference and just say $19,800.” The customer perks up” that’s not a split, $19,500 is a split.” “Okay so $19,500 and it’s a deal?” This is a perfect trap because 90% of the time the customer wants to split the split: that would be $19,250 which is $250 less than where we placed them. The salesmen simply bump them with the oddball number.

(via Robert Farago at The Truth About Cars)

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