SUBSCRIBE HERE!! https://www.youtube.com/kevinhunter7 How do you buy a car from a dealership, with cash, with no credit, with bad credit? Here are the best car buying tips available today! See our latest video "TOP 10 Tips to get the BEST CAR DEAL" (10 best car buying tips / advice) at https://www.youtube.com/watch?v=Lik6d0mcNp4 Are you a savvy car shopper who needs a little car buying advice? Kevin Hunter hosts "The Business Forum Show" outlines the 13 car mistakes to avoid making at the dealership. See the new video on "Getting Pre-Approved on Car Loans!" at https://www.youtube.com/watch?v=8KSmB3HE90E
CATEGORIES: car, truck, suv, auto, used cars, autos, mechanic, automobile, vehicle, dealer, automotive news, auto shop, warranty.
People in the car business who profit from your mistakes by taking advantage of you will rant about things we share here and disagree with the content, but don't be fooled by their rhetoric. A dishonest car salesperson absolutely loves an ignorant car shopper. We will try to help you avoid the common mistakes, and assist you in sorting the facts from the baloney in this business. We profit nothing regardless of what you choose to do, and we don't mind if you choose to not use the information. If you do, you'll find yourself walking away with a much better car deal. If you don't, you don't have much room to complain when this stuff happens.
How do Car Dealers rip you off? This video presents 13 different car buying mistakes that you can't afford to make when car shopping. If you're going to car shop and don't want to be taken advantage of, it's up to you to learn about car salesmen and auto dealerships, and the dirty tricks they play to rip people off. You also need to learn about the scams and inappropriate products sold by both new and used car dealers, and why some things dealers offer should NEVER be purchased. These include things like the theft protection scam, GAP insurance that is sold to consumers who either didn't need it, or could have purchased much cheaper from their own insurance agent, and extended warranties that are often sold to buyers who didn't want them or need them. To make matters worse, there are also thousands of car dealers who employ finance officers that are some of the most unscrupulous people you'll ever meet, willing to tell you any lie they can come up with to sell you everything I've described, and more. The worst ones will even claim your interest rate on your loan is only available if you buy all the added products they are proposing. They claim the 'bank' wants the car protected.... which is BS... On the contrary, the bank wants your loan as small as possible so if they need to repossess the car, they can get their money out of it.
This video was published to help you discover how you can save time and money on your next new or used car purchase by doing your homework first, and then going car shopping as an informed buyer.
Is it unreasonable to expect a little old-fashioned honesty? We don't think so, but we are more than amused by the countless car salespeople or car dealers who contact us and state that we are making a 'small problem' sound far worse than it is. They also tell us the entire video is completely fabricated baloney. Really? Are you kidding us? We know there are honest people in the car business, and we receive positive comments from many of them, but it's definitely a buyer beware world out on the car lot!
For all of you car buyers who are well steeped in reality, if you watched the video "Confessions of a car dealers backroom" you need to see this video. By understanding what mistakes to avoid, you'll not only become a smarter car buyer, but you'll also better understand what not to tell a car dealer when buying a car. It's true that you can play all your cards up front with an honest dealer, but unfortunately, they represent the minority of dealer owners (truly transparent and honest dealers make up about 40% of all dealers), and you are unlikely to know the difference until it's far too late. Be smart, do your homework, and you'll come home with a car deal that's good for you and the dealer. After all, that's what fairness is all about. We don't endorse anyone being ripped off, and that includes some customers who think it's 'justice' to turn tables and try to 'steal' a car from a dealer. If you do stuff like this, that makes you a crook too, doesn't it? When a car dealer loses money on a deal, they just take it from the next unsuspecting person. We don't think your neighbor should have to pay for your car, so we encourage you to be fair and honest. Everything we talk about has to do with fairness and honesty, and that works both ways. Respect the dealers right to make money in your quest to get a fair and honest car deal. It's this kind of attitude by car dealers and consumers alike that will change the car business.
Watch "Getting Pre-Approved on Car Loans!" at https://www.youtube.com/watch?v=8KSmB3HE90E
What I dislike most with dealers are that you would bring your pre-approved letter yet they go behind your back and run your credit. Then their lies are oh we just want to see if we can get you a lower APR. But did I ask you. Now you leaving with more hard inquires on your report. Why do they do that?
They are constantly trying to wrestle control of the deal away from the customer. If you have pre-approved financing, you have control. If you've done a great job of fair market pricing of the car you are looking at, you also have control. If you've done your homework on a potential trade-in you have and you know what your car is worth, you have more control again. They don't like you to have control, because they make less money every time you do. Subsequently, they will do anything and everything to wrestle control of the deal away from you. Stick to your guns. It always pays off.
Yes, of course. Finance guys love to tell you "the banker" requires you to buy this product or that product. GAP is a product, just like an extended warranty is a product. They sell them to you to boost profits for themselves, the dealership.
I agree with Brett.
A 20-30 minute test drive is a far cry from thoroughly checking out a vehicle.
It's as though you think the only possible exposure to a vehicle is by way of a test drive at a dealer. Nope. Friends & family with cars are not a thing. Neither are rental cars. Or youtube videos.
When I bought a Jeep and test drove it, it drove like I expected a Jeep would drive.
When I bought a Honda Accord and test drove it, it drove like I expected a Honda Accord would drive.
When I bought a Toyota Avalon and test drove it, it drove like I expected a Toyota Avalon would drive.
And on and on with all the cars I've owned.
I test drove my 2016 Avalon. That test drive in no way revealed what utter garbage the Entune system is. I hate this fucking car not because of the way it drives, but because of how horrible the Entune garbage is - something that in no way could have been discovered from a silly test drive.
My next purchase will be to call around to dealers in my city and to cities in neighboring states. The dealer with the vehicle I want at a price I accept will be the winner. I have no issue with using accumulated air miles to hop on a plane to pick up a vehicle and make a fun road trip out of driving it home.
Far better than having to hold back and drive like a church lady while listening to some slime car salesman on their designated test drive route.
Funny... an utter waste of time. Wow, I bet you had to get to Wendy's drive thru quick, right? Thoroughly checking out the second largest purchase most people make is a waste of time! Lol... there's always somebody...
@Kevin......What can I do if I find myself in this situation where I signed the contract, took car back in 3 days but dealer refused to give me back down payment bc I signed. I stopped signing at first then he blatantly lied about the price and I'm like oh Ok and I should have just walked away. Now he's trying to make me come backand get the car but I refused. It's on lot financing.
Car had $9,000 sticker but he was trying to get me to pay 15,889. 2008 Ford Edge Limited 165,000 miles 🙁
Car salesmen are SCUM!!! Do not believe anything that they ever say! And if you really want to know which used car is the best one - ask to see the one that the salesman is driving...Yes - speaking from experience! They even had the nerve to tell me that they had contacted MY bank, and my credit was not good there. I know this because I spoke to my credit department at my bank. I was told that no such contact had been made!
That's a very common story... "We talked to your bank." Just as you said, it is entirely BS. Your bank would not make the practice EVER of talking to a place of business you are shopping at, and then telling that place of business that your credit is not good there. What a great way to lose a banking customer, and possibly get taken to court for disclosing confidential information to a dealer. Think about it. What banker could possibly be that stupid? Not even a "PAYDAY LOAN" place would talk to the car dealer. Lol..
CR has huge expenses having to buy the products they test. Yes they do sell them but I'm sure at some loss. They need to constantly find new sources of revenue. I still trust them to provide unbiased reviews.
I took the car home for a extended test drive and my logic set in. I was not going to pay a extra 5,000 for the insurance the dealer offered me . You don’t want to be peer pressured when buying a car. I mean they really stay on you like white on rice. I’m glad I didn’t buy the car I would of regretted it
As a car salesman I agree with most of what he says, expect for when he says "the rebates are expiring today" A lot of the time that very well might be true. General motors (that's all I can speak of because that's all I've sold) has monthly rebates and "fast start" rebates. If its the last day of the month and a salesman says "the rebates expire today" that's 100% true. If its within the first week or two and you hear "the rebates expire today" that's MORE THAN LIKELY true if its a "fast start" rebate. Other than that this video is pretty true....Side note. DO NOT go to a dealership just to get information. Do your research ahead of time on the fancy thing called the internet. A salesman does not get paid to show you a vehicle. Salesman only get paid on sales. The time spent with you and your information visit is actually taking precious time away from him or her selling a car to someone whos ready to buy. You are literally getting in between him and his money. If you truly must go to a dealership to JUST get information do it first thing in the morning between Tuesday and Thursday (the least busy mornings typically.) Follow that and you will have a pleasant experience. Some of my most memorable sales have been from customers that come early in the morning when I can give them the most attention. Also, if you decide NOT to buy the vehicle please don't ignore or beat around the bush when the salesman calls you. Just let them know you wont be buying the car and give them an explanation on why not if you can. If its a payment reason, just let them know. Your salesman will appreciate that a lot more and you phone will appreciate not being blown up. I've worked a lot of car deals over the phone a day or two after meeting a customer. Another key note is to not be stubborn. There is give AND take in a car deal. I've had to tell a few people to leave because they've talked themselves out of a car deal "demanding way more money off the price than what is even possible". If you took the time to read this, I hope it helps! You can also reply to this comment if you need any HONEST advice when car shopping.
David Sparling Actually, I'm everything you aren't - a truth teller a person with a moral conscience, a solid social fiber and am a professional consumer's advocate. You're only butt hurt bc someone knows your secrets better than yourself, i. e, blame the messenger instead of the message. If you possessed a moral compass you wouldn't be a bottom-feeding car salesliar, would you? You'd break into your mother's grave and steal her false teeth, if you got a fat enough offer, you worthless parasite.
+Ockie Ditchbank You must have been beaten senseless on the playground every school day, "Ockie"... otherwise you wouldn't have become the bitter, victimized wimp you are today. Go put your jammies on and brush your teeth!
Johnny roastbeef You use of English grammar and punctuation is deplorable. And you expect to write a clear, cognizant contract with this shit? Until you can get a better job laying bricks or digging ditches, STOP telling your victims they need to finance the car through the crooked dealership! You're no salesman, you're a salesliar.
I work for FCA or Chrysler Jeep. Almost everything you say is a fact. Fast start rebates or bonuses , end-of-the-month rebates change we don't know. Do you research like he said. drive the car. The finance manager, not necessarily the best salesman. I am the best salesman. We have no delivery option up seller. At our dealership. you go from sales to finance the cars cleaned up delivered to you. Everyone thinks the more gross we can make up front on a new car the better. That's not true at all most new cars are what's called a mini deal. It's a flat pay amount to the salesman. What that means is 9 out of 10 times to customers getting the Fair and even a negative deal. That means the dealership lost money. new cars hold no gross. The salesman will get 100 to $200 for spending 4 - 5 hours with you picking out a car going through the process delivering the car. I usually do it 2 to 3 because I interview my customers correct. Remember the customer is not always right. And neither is the salesman.. Do your research on the internet like this gentleman said, and if you're happy I'm happy. Thanks for listening
David Sparling How easy the process is? I see... just allow the salesliar to tell you what to do, ignore your own common sense (if you aren't so naïve you don't possess any) and this lecherous predator will lead you right down the yellow brick road to financial ruin. Just remind him you've been hosed with the bad deal magic spell before, so please go easy this time around. And trust and believe everything he tells you, bc he's only making $900 a month, the poor bastard. Oh, yes, and do have respect for the salesliar's time. He has better things to do than waste time with your laughable ass, like keeping his big feet up on his big desk and swapping jokes around the training room with other salesliars about the big whales you've all landed at one time or another.
I used to have a 2011 LT impala. It was coo. Sold it for a Escalade. Anyways fast forward a few yrs later bought a 06 Impala LT And it's been ight. Winter is coming and when those Actuators go out you better go to the junkyard and pull one out another impala cause without them Actuators working on a cold day its going blow out nothing but Cold Air! And stay away from 06-09 impala Ss those are worse than a regular impala!
Blizzard HQ It's not so much taste as it is experience. You guys rant and scream how foreign cars get 300 mpg, have plenty of air bags and all that baloney, but never consider the stratospheric costs of foreign cars and all the useless BS that comes with any modern car. I've been buying used cars from private owners all my life and have had very, very few regrets. But you do need experience, both in automotive skills and people skills, and buying anything from a car dealer is always a long, blind walk down a short plank. Your suggestion about leaving emotion at home is always prudent, and cannot be overstated.
Blizzard HQ Although I'm very disappointed in what General Motors has evolved into over the last thirty years, with grossly ugly cars, peeling paint, weak transmissions and brakes, shoddy upholstery, begging for government bailouts for their own dumb mistakes and all the rest, I'll still take a Chevrolet over any foreign car. There's no such thing as a trouble-free car, any more than there was a trouble-free horse.
I pissed off a finance manager on my last purchase, asshole was pushing for me to buy an extended warranty I did not need nor want for 15% percent of the purchase price I laughed and laughed and laughed.
Let me ask you the delivery coordinator sells you the extended warranty. You do need that, don't you? Or should i say is it best to get the extended warranty? because it bring the price up again. If you don't drive as much do you need it?
Thank you. Thats good to know. My next car i will skip the extended warranty. That's why my payments were higher because I chose the extended warranty. And I got a Lexus with 10,000 miles, like those cars run forever anyway.
Chuckey 2015 You do not need an extended warranty. Ever! If the salesliar tries to push this down your throat, just ask, "Why? Isn't the factory warranty any good?" And watch him change the subject faster than you can slap a tick.
Sad, but most car dealers will lose a sale if they can't screw the customer, even if you are paying cash. Will force you to listen to hours worth of pitches trying to sell you all kinds of unneeded stuff, then try to add a few hundred dollars on to the price after you sing the purchase agreement, like doc fees or window etching - anti theft, claiming all their cars have it, you can walk out, but the next dealer will be as crooked as the one you walking out on.
David Sparling You're just the kind of short-sighted sleaze merchant I avoid. All you give a damn about is money. If you can fuck someone out of $500, that's better than fucking him out of $100. I would have walked on you long before you whipped out your big tabloid of shit reasons why I should buy more of your over-priced, unnecessary trash. Perhaps, while you're kicking your potential customers' asses, you should keep in mind that a $100 profit is better than $0, especially when he will probably be cheated out of more huge sums of money in the service department, the most profitable side of any new-car dealership! Bad move, Ex-Lax.
What does paying cash have to do with anything? Also, if you had an item that you paid $20,000 for and someone offered you $20,100, would you think that was a good return on investment? If you knew there was someone who would pay you $20, 500, $21,000, etc wouldn't you pass on the $20,100 offer? No one has an obligation to accept your offer, especially if it's a ridiculous one, which many are. What percentage profit do you think is "fair"?
You are probably one of the 5% of the populace that I don't even want as a customer. Want a "good buy"? Great! Good bye!
Thank you! Been thinking of trading my 2007 Rav4 which only has 80,000 miles as I am now retired and don't drive much anymore. Don't know if I want to go into debt. I've been "sleeping on it" for months now. If I do purchase it will be at the end of the month as I am aware of that being to my advantage and I'll wear my pretend engagement ring as I am after all a woman.
When I look for a newer car or truck I’m going straight to the manager and talking to him he’s the one who makes the deal and I’m not going alone my dad and grandpa are coming with me because they have the most expertise
I believe salesmen are dying species and most car buyers are using the internet and do their research of what they really need. Use Truecar .com or Autotrader.com that haggling for the price is zero. Beware of the extended warranty and other insurances that they put on you especially when they are selling certified cars.
All truecar and autotrader do is show you the price with all the rebates that everyone don't qualify for. For example you cannot be a military veteran and a college grad at the same time. Prices on there is NOT what you can a car for. Ypu really believes you get 36 percent of a brand new car?
It’s not rocket science. Arrange your financing ahead of time and use cash as a down payment. You instantly have the upper hand over the dealer. And don’t let them screw you with fees and add-ons (research what they are ). Don’t let them f*** you. Salesmen will try pressure and fast talk to beat you. Always be prepared to walk away. Do your best to do it to them before they do it to you. Enjoy the challenge.
I have no idea. I bought my car at Carmax a 2012 hyunda veloster. I was totally blown away when tbey told me the interest. my bank that I have been with for 11 years turned me down, part of me thinks they have different algorithms the white people and black people. I was expecting to get 10 or 12 percent rate which is what I have gotten with every car I bought except this last one. I called everyone I knew I was so excited.
ynik shia Advertising fees, dealer prep fee, GAP fee (this can be bought cheaper at your insurance company), extended warranty fee, fabric protection, paint sealant, and disability insurance fee. All these, plus some others, dealers will try and slip or pressure you with.
Another mistake salesperson love is bringing your spouse or significant other along with your young children (infant to 3 years) into the dealership. They will try to either pit you against your spouse or say" don't you want the best for your wife or ...." The kids are hungry and tired. Instead of trying to get you out of the dealership, they slow down the process and end up signing any and everything. Also, don't fall for the "good cop, bad cop" scam. I got "duped" once and never again. I now have my financing in place before I go, and when I walk into the dealership, I instantly demand that i close on EVERYTHING in 30 minutes ( I actually use my stop watch!) or less or no sale. More importantly, I tell them up front that I am not here to learn about the car, I've done my research, obviously i would not be in their dealership. If a deal is not complete on my terms, I walk or asked be compensated in cash for going over my allocated time. Keep in mind, you are spending your money and no one should tell you how to spend it. You can find your dream car anywhere. If they sell it, you can get it somewhere else. Sorry for such long email and great post.
If you total your vehicle your insurance company will only give you what your car is worth at that time it may not be enough to cover the balance owed on the loan you took out. If you down a decent amount or if you paid cash then you don't need GAP. Your Insurance Company has no duty to pay off your loan so no they will not "deal with it "
why would u need a gap insurance in the first place if u have a car insurance. i don’t believe in all that extra BS... i go in there and walk back out without messing with all that gap insurance and extended warranty. fuck all that i am fully convered with my car insurance let them deal with it
Yep.. we got nailed from jeff Wyler Kia for a "Pro pack" aka styro foam sectional above the spare tire.. 450 bucks.. and of course the paint protection for 900.. and seat protection for 500.. we were at dealership for 6 hrs.. i didn't have my pain meds with me .. i was in pain so i just signed everything without looking.. only blessing is we have a great car.. just sucks at all the extras we got suckered into.
ChrisandEileen Don't change a thing you do. That way, you'll guarantee every salesliar a job forever. Next time, stay twelve hours, and you can donate another $3,000 to the poor, hungry, destitute salesliar. They need all the help and sympathy they can muster. You'll feel like the jerk you are, but do you think they care?
Where were you at when I needed you when I bought this dumbass car I'm driving I'm just giving away money for free at this point Lol thanks for the options though going to take a deep look into all of them
AutoNation Ford Margate Florida Ford dealership has some of the worst scammers Salesperson #3 I've ever seen. The finance manager there is an outright liar. They had my license plate on a new car, ready to go, and they tried their scam paperwork games on me. Completely changed the numbers on the final paper work. I refused to sign. We were arguing until after they closed 9:30 at night. I made them give my trade in back, and put my plate back on my old car. These fraudulent fucks even changed my registration with the state without me signing. Didn't find that out until I went to purchase at another dealer. I was driving around town with a license plate registered to the wrong car because of these evil fucks. Fuck you AutoNation Ford Margate of Margate Florida. You didn't scam me.
Kevin Hunter Actually, they were quite good! Thanks for asking. There are good dealers and bad. With the plethora of information online and ridiculously slim margins, anyone getting "screwed" on a car purchase has no one to blame but themselves.
A Conneely Apparently, you can't read any better than you can wipe your ass. "mom thinks I'm a Champion" is the name of the individual I was responding to, Idiot, not a personal brag about myself. Christ... You learn about the seller by looking at his documents. If the name and address on the registration is the same as the seller's driver's license, that's a pretty reliable indication he's the real owner. He also advertises in the local paper, and is getting very few responses. Ideally, you look for a car that was bought for cash, and that may take a while but even if it has a loan, it's still going to be thousands cheaper than getting plowed up the ass at a dealer. But since you can't read above a 3rd-grade level, you're probably the kind of brainless Bozo who makes every car-buying mistake in the book, in which case you're not going to learn anything new here.
" A legitimate private owner has irrefutable credentials" how do you know ? Where do you find these private owners that are selling 1 year old cars at 50% less than new. ? Most would still have liens on them how do you handle that ? So your mom thinks you are a Champion , what does she think you are a champion at exactly ?
David Sparling Wow, another member of The Flat Earth Society... a non-believer in the truth that is plainly there for all to see. What a STUPID, FUCKING idiot! You don't like the message, so the messenger must be psychotic. You flakey, lying car pricks are all the same. Yes, Sweetheartface, "all dealers operate in a sleazy fashion". Hell, just look at yourself - you couldn't tell the truth if your dead mother's soul rested on it. Yes, some bad ones are gone - driven over to the Internet, where it's even easier to lie and cheat and steal from gullible jerks who don't know any better than to buy a car sight unseen - a wet dream ALL you scummy bastards dream every night. Buying from private individuals has its risks, but only when dealing with shady crooks who are just pretending to be legitimate owners, which you'd know if you had bothered to read what I already wrote, you lazy bottom-feeder. I've bought hundreds of cars since I was 14, mostly investment cars. Only TWICE have I ever bought from a dealer, and those were when the dealer had no interest in what he was selling in the first place. You work in an industry that's had a bad rep for more than a century. If you want to try to change that, grow the fuck up. Develop some goddamned moral fiber, for Christ's sake.
Grizzlyx9 You realize, of course, you're cheating all those honest salesliars out of your financing overcharges they'll use to cruise to the Bahamas, don't you, including jealous POS like Dice Flawless (see above)?
You are correct, Jennifer. The dealer has no problem calling you stupid when you don't buy their overpriced products. The whole acting game about being confused that you don't want to "protect your investment".... Lol... the only thing they are genuinely concerned about is protecting a max profit deal. That's it, period.
they do. i just bought a honda civic yesterday and the finance manager asked me a least 10 times why I don't want the gap insurance and their mechanic warranty, then proceeded to explain all 10 times why I need it and even made it sound like i was dumb for saying no.
Thank you for the videos Kevin!
I'm an Auto Advocate not a broker. We don't hide the fees from our clients like brokers do.. Check it out. We work throughout the whole country.
You can start with your trade first, or the price of the car you want to buy first. Either way, only negotiate one piece of the car deal at a time. Car Dealers like to roll all the aspects of the car deal into one conversation so they can hide money in places you haven't considered.
I've made several mistakes over the years and here's my question. Usually I tell the salesperson what type of vehicle I want. They ask me right away if I have a trade in and/or a down payment. How do I avoid telling them if I want to wait till we negotiate a deal? I keep reading don't tell them anything until you talk price, but how do you avoid their questions?
David Macko "Well, we can always talk trade and financing, but right now I need your best cash price so I can shop around before I come back. Can you write me up a proposal?" If the salesliar responds with "Oh, just bring me your best price and I'll beat it!", just say "No, I really don't have time to waste playing board games. I'm ready to buy today. Thank you anyway," and head for the door. Don't be afraid to be blunt, because he'll have more respect for you if you are blunt and direct. The best that can happen is he'll stop you from leaving and write you a deal that will be the best you'll find if you shopped around. And the worst that could happen is nothing, because you never had a deal with him in the first place.
David Macko you don't avoid their question you'd redirect it. For example, when the salesman asks you if you have a trade in your answer would be this "I would like to concentrate on this vehicle and the sales price right now. We can discuss how I'm going to pay for it after I've selected the right car for me."
Salesman number #3 wanted to get me so bad, he kept asking me several times how much a month I wanted to pay. Finally I said, 'look, I do not have all day, do not waste my time, just tell me what your finance offer is, I am not spending more time here'. Finance was not good enough, and I went with my pre-approved loan. Now, this was long ago, not sure I have the stamina and energy to go through this again - says I preparing to buy a new car in the next 7 months or so.... the aggravation waiting.
Is becoming hard to find out the true value of a new car. I have yet to venture out to actually see the car, just researching now, and exploring the models I am interested in. All online queries require your email; which they will use to bombard you with emails that your box of emails has nothing but them pushing to buy. I am all for them making money, everyone needs to make a living, but not by ripping you off :(
SENSUALBLISSINSFL There is no logical reason in the universe a car dealer needs your email or your address! If the salesliar can't write you up an offer the very moment you're standing there, that means he never will. But your addresses are a great trap for unwanted spam crap, for which you'll spend years getting out from under!
You nailed it. Your frustrations are the very reason I published these videos on the car business in the first place. Still today, employees of car dealerships have the gall to come on here and claim that none of these things happen in their dealership. Their favorite phrase? "Buyers are Liars." Imagine that. The pot calling the kettle black. Of course buyers don't show up at dealerships telling the whole truth. They know every bit of information collected on or about them will be used against them in the negotiation process. For this very reason, buyers don't give out their real names, their real phone numbers, real email addresses, job information, etc. When you're dealing with an industry known for its amazing ability to bullshit about literally everything... yes, buyers use lying as a defense mechanism. If people were actually told the truth buy representatives of the car industry, and it became known that the practice was fair and honest, buyers would reciprocate. Sorry for the soap box. Thanks for your comments!
I've also had Salesperson #3 try to tack on fees for filing the finance paperwork after I had already negotiated the final price of the vehicle, the loan interest rate, and loan duration with salesperson #1. I always make sure and have a loan calculator app on my phone ready to make sure that the loan payment on the paperwork matches exactly with my calculated rate. Seems like car dealerships are having salesperson #1 be the easiest person to work with and then having salesperson #2 and #3 play the high-pressure wear-you-down tactics.
Anyone who has bought a car at a dealership has met sales person number 3. This is the finance office. The person sitting behind that desk is responsible for a significant portion of the profits any dealer makes on any car deals they do. Yes, more than 50% of dealer profits are made during the finance process. Most people spend all their time worrying about the $3,000 a dealer might have made on the price of the car they just negotiated with you. With relief, most buyers let their guard down after this part of the negotiations because they think it's all over except for signing the paperwork. That is in fact what the dealership wants you to believe. Every opportunity to buy something else (besides another car) will be presented to you as "protecting your investment." Skipping right to the 3rd sales person, let me explain what these additional sales will be. For starters, GAP insurance at $1,000 a crack (which you can get from your own insurance company for $35-45 a year). Extended warranty, another $2,500-3,500 on average. Window etch theft protection at $400. Wheel and tire warranty at $500. Nitrogen in your tires, $350. I'm just getting started here... and the unsuspecting car buyer has already added $5,000 to their car loan. If you start saying 'NO' to this stuff, you'll be made to feel like you're "driving naked" down the road and catastrophe could happen at any time. The real truth is that the catastrophe is happening right in front of you, right in the finance office, and the longer you sit there, the bigger the bill gets. I hope this helps. Take the time to also check out my video on Dealer Finance titled "How to beat the Car Dealer Finance Office" at https://www.youtube.com/watch?v=WHDMLco9N8w&t=324s
Dear Mr Kevin, I am in the market for a brand new car, I really like the Chevrolet spark just the basic model the only option that I need is the CVT (auto trans) the price is around $13.625 +/- but what I wanna do is paid cash, now, some people said don`t be a fool don`t pay cash, the other group said yes, go for it, it will give you more power in the price negotiation, they said I can bring the price down to let say $11.000 again +/- Mr Kevin, do you think is better for me to buy a car cash, I have the money but do you really think I can save money by paying cash? if I can bring the price to $11.000 by paying cash then yeah, but what do you think? also many years ago a friend of mine bought a car brand new!!! directly from the manufacture I think it was GM, small basic, and he told the savings was just huge, I don`t know if this is true but what do think? thank you
Kevin, I'm negotiating a cash deal now where the dealer's document fee is $800. They've also tacked on a few other fees I've asked (repeatedly) for a breakdown and explanation for. If the doc. fee is $800 how do I "not pay" it? The car I'm buying is a new 2017 for less than $17,000...(original price $29K). (Obviously they want to get rid of the 2017s). So I didn't really question the large doc. fee due to low price of the car. What IS the document fee anyway and is it negotiable? By the way they list the document fee of $800 on all their car listings online as a disclaimer.
Mr Kevin I can`t thank you enough for all the effort and time, you are a good man, God bless you and your family always, I will follow the instructions step by step Sir, I was also told to always purchase your car at the end of the month, he said, because the dealer must sell a number of cars every month, thank you.
First thing you need to understand is that most of the money a car dealer makes on a car deal is from the financing they offer... and all the other products they try to push on you. The finance man accounts for well over 50%, so if you tell them you are paying cash, you can count on them putting no effort into negotiating a good price on the car for you. For this reason, I always tell any car buyer to not mention they have the money for car they are shopping for. If they ask about financing, you simply say you are willing to see what they can offer. Don't make any commitments, just say you are willing to look at it. This will guarantee that they do an honest job of negotiating with you on the car price itself. Do your homework, make sure you clearly understand what the fair market price of the car is, check out all available manufacturer rebates (if you are buying new), and then make sure you nail down a fair price for the car. The next step is financing, and your question is "Should you pay cash?" If you have the money, paying cash is very smart. Just don't ever say you're going to do that until the very end. Take a seat in the finance office, wait until your salesman (or woman) is gone, and then let the finance officer know you want an out-the-door (OTD) final price. The OTD price is a total of the price you negotiated on the car, plus the taxes, title fees, and licensing fees. You may have a document fee (but never pay more than $75 for a doc fee), and potentially a delivery fee if the car is brand new. A delivery fee is an additional cost that the manufacturer puts on the vehicle, and it gets passed on to the customer. Other than that, you shouldn't agree to pay for anything else. If you follow these instructions, you should get a great car deal. Thanks for viewing our videos, and thanks for your questions. Feel free to comment again if you still have questions, or need additional help. Best of luck to you!
The biggest mistake you can make when buying a new or used car is to talk to the sales person about anything before you negotiate the price of the car. Always negotiate the price before you say anything about trade-in (don't even tell them if you have a trade in), down payment, financing, etc. Otherwise you're setting yourself up for the classic shell game which is known in the car biz as the "four square". They will be bombarding you with questions but stand tough. Remember, you are the buyer and have all the control if you don't succumb to the sale person's training and tactics to break you down and take control.
"Always negotiate the price before you say anything about trade-in"Do this, and you're setting yourself up for missing out on manufacturer conquest incentives. So while you refuse to tell me you have a trade in and you get a $3,000 discount, the guy behind you that tells me he has no trade in, but his wife has a 2015 Lexus IS250 registered to the household, I can get an extra $1,000-$3,000 from the manufacturer on top of what the desk is willing to discount the vehicle for. Sometimes these incentives are advertised, most of the time not at all. So you're going to just get $3,000 off, when the guy behind you got a $5,000 discount just for telling me something that has overall zero impact on how much an individual dealership will discount an individual car for a potential deal. We don't "gain" anything by knowing that you have/don't have a trade in. Matter of fact, if you want a crazy, crazy deal that requires us to take a loss, we're more likely to do it knowing that you're trading in your car and make up the difference. "Otherwise you're setting yourself up for the classic shell game which is known in the car biz as the "four square"Its 2018. We live in the age of information. You can go online to TrueCar.com and find the invoice for any vehicle. The only stores that use the "4 square" is your ma' and pa' corner lots. I would advise to stay far away from these places and find a reputable dealer. Oh, how can we do this? Again, the internet. Yelp is your friend. A dealership that has 4/5 stars is more then likely going to offer you a fair deal, with no badgers. "Remember, you are the buyer and have all the control if you don't succumb to the sale person's training and tactics to break you down and take control."While its true that the client has "power", you don't have the power to control the entire transaction. The dealership can simply say "No" to you and sell the car to somebody else. You don't own us, and we don't own you. This is the biggest misconception of the entire industry, the "Us vs Them" mentality. You don't win, unless the salesperson / dealership gives you a fair deal. The dealership doesn't win, unless you agree to purchase a vehicle within a profitable margin of purchase. A dealership is a business, if they agree to a price with you, they are doing so to build the business. Thus, if you're buying a car, the dealership is benefitting one way or the other. You just feel like you win, if we claim a car is worth X dollar value and then shortly afterwards agree to sell it for less.
no car inspection cost $25 dollars don't know what world this video was recorded in. I spend 74 dollars and if i do that for every car I like and want to check it all adds up.. check the engine always! and you will pay for them to check it!
Quite funny! Actually, I receive a lot of messages from people who watched the video AFTER they went car shopping, and are now trying to figure out how they ended up paying so much or have such a high loan balance. The whole idea of an informed buyer is someone who watches videos like this BEFORE they go car shopping. Lol
Point #4 is very important and if you do not know how to bargain with them about the price then you will likely pay $1000 to $3000 more than you should have because you did not bargain hard enough with them. If you want to understand more about how to bargain with them and save $1000 or more then I suggest this will help greatly and save you lots of your hard earned money. http://5b28fllpvtg87vf8ghg4bbso39.hop.clickbank.net/?tid=CAR1 May your next car or truck purchase be much wiser.
Did you already sign that loan? If so sell the car and get a beater until you get rid of that ridiculous loan. Otherwise check your credit Union or bank for better rates or even better save a bit and pay in cash
I can't think of one person in their right mind who would agree to a 25% interest rate. And to think a 14-17% bracket is outrageous as it is. You must be really desperate.
Refinance through another lender, or a credit union ASAP. If you have bad credit then asking to finance on a vehicle is a bad decision altogether.
Great video👏🏾! I highly recommend taking this guy’s advice and visit truecar.com to know the real value of the desired vehicle. It wouldn’t hurt to know your credit score too and Carfax/Kellyblue book.
This was very helpful tips and preparedness for me. I immigrated from a different country to USA, and always these tips help me as I am new to all the sales gimmicks in this country USA.
Is there a link to a place where a "smuggled" manual that outlines their sales strategies? I have never gotten so confused with all the maneuvers that I have to deal with when grappling with them. Makes me want to ride a bike
Never lease or loan. And ALWAYS test drive. And always sell your car yourself, dealers are in it for money, so they'll buy your car for less then it's worth so they'll get more money when it's sold again.
The Biggest Rip off is the tire and wheel insurance, A normal flat tire cost about $15 dollars at a flat fix spot... The Dealer sells you a $900 policy for 5 yrs which is about $15 a month. It includes flats ,blowouts and rim repairs ...Heres the problem , You get a flat and you go to the dealer and they won't accept a drop off of the tire, The whole car has to stay and you have to make an appointment just like any other repair. So you waisted 3 hours of your life for a flat. you will never get a head of the game.
Porsche 911 $220,000 - luxury car tax 33% = $170,000 - tariffs 5% = $161000 - 10% gst = $141000 aud . Porsche in Australia makes far less profit than Government makes on luxury taxes on a Porsche in Australia
I would rather pay more for a car and have reasonable Education and Healthcare costs like you do in OZ . If you cant afford a Porsche don't fucking buy one can you afford $100000+ for a heart attack ?
Never lease, all you end up doing is paying for a car that at the end of the day isn't really yours, so all you're doing is paying for depreciation. Always buy, and if you can buy outright then that's the smartest way to buy a car.
I have produced a lease vs. buy video, but it is a bit more lengthy. We are working on a shorter lease only video coming soon! Make sure you're subscribed to the channel, and click on the bell for notifications. Thanks for your interest.
the biggest mistake is buying the same vehicle that car dealers sell at Dealer Only Auctions, still under factory warranty, with clean titles and detailed condition reports on a retail lot, and overpaying by thousands ... i save my clients thousands on luxury vehicles, every day
met, I have access to that info through the auction's website... there, you get detailed condition reports on late model vehicles still under factory warranty (not some bs service contract) and are able to screen share ... from there, you just log into the simulcast on auction day and purchase the vehicle, online, just like you do when you purchase a $5000 TV through Amazon by viewing specs and photos ... clean 2-3 year old vehicles usually sell for Kbb HIGH trade-in to Kbb PRIVATE PARTY, before the auction buy fee and a modest mark-up ... If the vehicle is super hot, with high demand, it will go for up to Kbb AVERAGE fair market value at the auction ... you just got the real price for any vehicle you'll ever want ... :D
You mean Made in Mexico? Those Made in Germany are space crafts compared to American cars. I had sooo much more beef with American cars then I will ever have with German or Swedish that we drive now. Japanese are also a great option, except Nissan with their unethical practices - just check www.nissan.com and learn about decades of their harassment over Mr Nissan who owns the web site and would not sell it to them. No Nissan/Infinity in our home, ever...
Yeah, superior German automotive engineering. Great performance until the car hits 30,000 miles or 3 years. Afterward, it losses at least 50% of its original value and develops at least one major mechanical and/or electrical problem every other month.
It's not sprayed... it is etched with an acid on the windows. Since the kit costs the dealer $10 or less per vehicle, hand them a $10 dollar bill and say "I'm not paying another cent for your worthless window etching program.
Most finances by the dealer are 0% here, but i only buy what i can actually pay for!
I never checked how much safety stars, cars sold in europe have 5 stars in general.
If the trade in price is shit i just go to another dealer from the same brand.
Dealer used cars are guaranteed perfect and with guarantee in West Europe, no need to bring a mechanic.
Most of this is only for the US i guess.
Pretty long story, but worth the read for anyone that wants to know the BS car dealerships do to manipulate numbers in the contract to meet your "monthly" price in the US. Salesmen always ask "How much are you looking to spend per month?" I now respond with "I just want everything to add up correctly for the car I want." Right off the bat that means I won't be up sold, nor sold a car I don't want. My uncle has been a car salesman for decades and taught me most of their tricks. Most of it occurs with the guy in the back room who you sign the contract with.
The first new car I bought I naively said "Well something between 250-300 a month is what I'm going for." I actually got better than my price, but this was after a long back and forth with prices from the manager and finance guy "in my range" when my math said I should be paying exactly $225 a month for 72 months for the car I wanted. Sure enough, $254 was the best they could do, and it was in my price range so I should obviously take it. "Sorry, after taxes and fees, your waived delivery fee, my trade in value, my down payment, the interest rate you gave on the amount financed, nothing in my math warrants a $2088 discrepancy ($29 a month for 72 months)." Then they said I probably spend more than that on coffee a month so what's the big deal? Your numbers don't add up, that's the big deal. In chemistry, being off one decimal place can mean the difference between a correct reaction and an explosion. They seemed to finally understand me with that metaphor.
This actually led to the salesman getting pissed off at the manager and finance guy. This was one of those rare situations where the salesman was (possibly) on my side. After coming out of the back room, sure enough I got $228 a month. Close enough. This is where they goofed.
While looking over the contract *(ALWAYS TRIPLE CHECK THE CONTRACT)* I noticed a term of 75 months, and around $2000 of optional items. The optional items were where the original $2088 discrepancy was coming from. $228 x 75 = $17,100. $228 x 72 = 16,400. An easy $700 for the dealer. I pointed this out and said the $228 should be for 72 months, not 75. He claimed it was a "mistake" and fixed it. Boom. I got my $228 for 72 months.
I didn't stop there. I said I would like to remove all of the optional items from the contract before I signed. This is where the guy knew he messed up big time and his face got bright red. They play around with numbers so much to meet your monthly price. I guess at one point the guy changed the interest rate to .1%, by mistake or on purpose. They'd rather up sell optional BS to make money for the dealer than have the lender make money from interest. Even if the lender is the company the dealer represents. Had I accepted the $228 for 75 months, that would've been almost $3000 for the dealer, and an unnecessary $3000 for me to pay.
After removing the optional fees of $2088: *I ended up with $199 per month, rather than my expected $225 per month, and their $254 per month "best" offer. This is $26 less per month than what I was expecting to pay with my numbers, and $56 less per month than their "best" offer. A total savings of $1872 from my numbers, and a total savings of $3960 from their "best" offer.*
Research, check your numbers, check their numbers, triple check the contract, remove all optional items, and you might just end up paying less than you expected. They sold me a car WAY under MSRP for almost 0% interest and no up sell items. I'm pretty sure the back room guy got fired over this. I always get dirty looks from the manager when I go in for my car maintenance. I don't care. I'm not there to make friends. I'm not there to make your dealership money. I'm there to get the best possible deal for myself. I just lucked out because you guys made a huge mistake. Not my fault.
You actually took it back for maintenance at the same place? I would avoid that place like the plague. You got a hell of a deal but they might try to recover by tampering with you car. Why wouldn't they?
I bought used 07 impala SS with 50k miles back in 2014. Price sticker was $14,999 I had one previous repo, so they ask for 4k down. I was working well and desperately needing a newer vehicle, so I took it but it was 4yrs and $400 monthly plus $115 insurance. Living in California and making 11.00 an hour it was it was super hard every month but I did it
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