Car salespeople have a bad reputation. But if you listen to this podcast with former salesperson Andrei Smith (who’s already shared their wisdom with the NGPF Podcast twice before), you’ll realize not all of them are bad and even learn some best tips for purchasing a car. 

Andrei Smith joins us on the NGPF Podcast again to give us insight into the car market today. Andrei shares with us his thoughts on electric vehicles, how car dealerships make money, and the direction the industry is going towards. He also talks about his transition from car sales to software sales!

Details:

• 0:00~1:24 Introduction
• 1:24~3:04 From commune to car dealership
• 3:04~6:26 Keys to success in sales
• 6:26~8:25 The pressure of the quota
• 8:25~10:32 Finding a mentor and lessons learned
• 10:32~13:30 Best tips for buying a car
• 13:30~14:50 Isolating variables by getting your own financing
• 14:50~17:46 Trade-ins vs. selling to car marketplace start-ups
• 17:46~21:55 How dealerships make money through leasing
• 21:55~25:33 Rise in electric vehicle sales
• 25:33~27:25 The finance person’s role at the dealership
• 27:25~30:51 Transitioniing out of car sales to software sales
• 30:51~32:16 What a manage service provider is
• 32:16~38:40 Skills transferred and skills learned
• 38:40~41:06 A example elevator pitch
• 41:06~45:00 Benefits of writing and becoming a author
• 45:00~46:22 Thoughts on loaner cars
• 46:22~47:17 Conclusion

Resources:

• NGPF Mini Unit: Buying a Car
• Andrei’s 2019 Appearance on the NGPF Podcast
• Andrei’s 2017 Appearance on the NGPF Podcast
• Internet Car Sales Manifesto: Internet Sales Manager: Zero to Hero
• The Automotive BDC Manifesto: A Career Guide for Producers and Managers in the Business Development Center

Quotes:

• “You’ll see that car companies are desperate to be a SaaS (software-as-a-service) company… You will see interesting ways car companies move into whatever way they can keep people on infinite payment plans.”

About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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Ren Makino

Ren started interning at NGPF in 2014, and worked part-time through high school and college. With his knowledge growing alongside NGPF, he joined the team to work full-time after graduating from college in 2020. He is also the producer of the NGPF podcast. During his free time, he likes to try out coffees from different roasters across the world.

More posts by Ren