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HONDA AFVM
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Don't underestamate the Japanese. It might be time to wake the Sleeping Dragon. You put good lease deals and low APR's out there and people will buy.
Sleeping Dragon; If Honda was smart they would no longer allow a 24 month lease extention. When your lease is up you have the option to buy, lease another car or walk away. Offer a loyalty program instead, The only other cars you can lease are Toyotas, Nissans and the Koreans. Most Honda customers won't go to them. This could be an oppertunity, not a slump. I'm losing my customers to the current low lease payments they are paying now because they are extending. I had 7 extentions last month. If Honda did as I said I might have got 5 of the 7 back into a new Honda.
Now if all 15 of my sales force was able to release 3 more extentions that would have been 45 more cars for our dealer. Lets just say for the small dealers that all dealers could have averaged in an extra 15 cars from your smallest getting 1 or 2 to the largest 20 to 30 releases if extentions didn't exsist. ther are apx 1,100 x 15 thats 16,500 more cars for the month, 200k for the year. Thats being conservitive.
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Honda-D
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HONDA AFVM wrote:
Don't underestamate the Japanese. It might be time to wake the Sleeping Dragon. You put good lease deals and low APR's out there and people will buy.
Sleeping Dragon; If Honda was smart they would no longer allow a 24 month lease extention. When your lease is up you have the option to buy, lease another car or walk away. Offer a loyalty program instead, The only other cars you can lease are Toyotas, Nissans and the Koreans. Most Honda customers won't go to them. This could be an oppertunity, not a slump. I'm losing my customers to the current low lease payments they are paying now because they are extending. I had 7 extentions last month. If Honda did as I said I might have got 5 of the 7 back into a new Honda.
Now if all 15 of my sales force was able to release 3 more extentions that would have been 45 more cars for our dealer. Lets just say for the small dealers that all dealers could have averaged in an extra 15 cars from your smallest getting 1 or 2 to the largest 20 to 30 releases if extentions didn't exsist. ther are apx 1,100 x 15 thats 16,500 more cars for the month, 200k for the year. Thats being conservitive.
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I don't know about the US. But up here in Canada, all cars including Honda has a lower resale value than lease buyouts. The expensive the car, the wider the gap. Having lease extension isn't a bad idea. Honda don't have to take the hit with all the lease backs.
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DIY
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"no longer allow a 24 month lease extention. When your lease is up you have the option to buy, lease another car or walk away." " I'm losing my customers to the current low lease payments they are paying now because they are extending." What is wrong with low lease payments?
Why prohibit? The customer apparently wants low lease payments. That is reducing the customer's choice when they may not want or cannot afford a new car, a higher payment, another lease, or may just want to buy their old car. Why prohibit something a customer may want? Just to increase profit? Think of customer money, choice and benefit, not just dealer's benefit and profit. How selfish.
Good deals and low apr's, yes. Prohibit something for dealer benefit only, bad.
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HONDA AFVM
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DIY wrote:
"no longer allow a 24 month lease extention. When your lease is up you have the option to buy, lease another car or walk away." " I'm losing my customers to the current low lease payments they are paying now because they are extending." What is wrong with low lease payments?
Why prohibit? The customer apparently wants low lease payments. That is reducing the customer's choice when they may not want or cannot afford a new car, a higher payment, another lease, or may just want to buy their old car. Why prohibit something a customer may want? Just to increase profit? Think of customer money, choice and benefit, not just dealer's benefit and profit. How selfish.
Good deals and low apr's, yes. Prohibit something for dealer benefit only, bad.
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Not saying make them highter, just make it competitive with their current one.
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