The Power Of NOT Following The Herd

As you know from all the advertising, the trend in the automobile industry has been to stretch out the length of the loans/leases so as to offer the lowest possible monthly payments. But one expert recently showed me some fascinating analysis revealing how this works against the car dealer in terms of customer retention and repeat business. I then talked to a top car salesman I know who said that he made a point of showing customers 24, 36, 48 and 60 month schedules, including how much interest is paid in each case, so as to encourage the buyer to take the shortest term he can afford - because this gets the customer ready and able to trade-in for a new car earlier.

He also teaches his customers how to make small extra principal payments on their car loans, so they save money on interest and are able to trade-in quicker. I think this is a great example of taking a look at the direction the herd is moving in your industry, then looking carefully in the opposite direction.
-----------------------------------------------------------------
To view all of the profit producing and wealth creation resources go to
www.glazerkennedywebstore.com