How do car salesman get paid?
I just got hired at ford but they told me there's 2 different ways of pay and I didn't understand either?
They often pay 25% of the profit after a pack. For example. If the dealer pays $10,000 and their pack is $1000, you get 25% of the profit over $11,000.
They have "minimums" in case you sell a low profit car you might make say $200 even if the dealer only makes $700 (Like on a new car)
Buy here pay here dealers may pay a portion of their down payment and a portion of each payment going forward depending on if they pay.
They often have a draw against commission so that you don't make less than minimum wage but if your commissions don't beat minimum wage, they will fire you before long.
You will get commission of course, but if you are a valuable salesman, they may give you a "draw" for showing up and of course representing their products. The draw would be paid back out of your commissions. Many large scale operations do that, especially Real Estate agencies. But like Appliance salespeople work on commission only.
Some are paid like regular employees (salaried or hourly) with commissions and bonus every time they sell a car. See the salary structure below:
Hourly Rate $7.64 - $16.17
Overtime $7.10 - $22.24
Bonus $0.00 - $11,882
Commission $1,017 - $64,873
Profit Sharing $0.00 - $21,447
Total Pay (?) $18,999 - $87,643
Let me get this straight. You accepted a job selling car and you have no idea how you;re going to get paid?
That is the definition of an idiot.
If you don't understand the pat sctructure how do you expect to earn ANY money? How do you know if you're getting paid for the work you're doing.
Explain to us what you were told. Did you get hired as a salesman or another position?
What did they tell you?
- Would you trade two cars for one with a cars salesman? I have too many cars and will move in a few days. I need a pickup truck to help move. I have a 97 Jeep and 88 Mercedes that I want to trade for a 97 Ford 150. The 88 Mercedes is has been garage storage (looks new as if it was 1988). The Jeep needs a muffler but runs good. Who would come out on top? Good idea?