ART OF BETRAYAL: A SET UP IN CAR DEALER FINANCE Role Play Lesson: 2021 The Homework Guy Kevin Hunter
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- Опубликовано: 26 янв 2021
- Car Dealer Finance Officers present themselves as professional, respectful, knowledgeable, and trustworthy. But, what do they do with your trust after they have it? THEY BETRAY YOU...
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I said no to the extended warranty and the finance guy asked me what I was going to do if the back up camera broke. I told him I would just look over my shoulder like I’ve been doing for the last thirty years.
😂😂😂😂
Lol
😂😂😂😂😂😂😂 Good one.
What I have always said when they present all of their products is "thank you, but I am not interested". I don't offer any details or reasoning as to why I am not interested because that generates follow up questions on their end that they could use to justify what they are asking and progress the selling. If they persist in asking I repeat myself. If they ask again, I say that "I have already repeated myself and I don't think you're listening. If I have to repeat myself again then I will leave". I've never had it go beyond that.
I did that years ago buying a vehicle; kept turning down all the b.s. add-ons.
F & I man even tried using my friend against me; he just said (pointing at me) "he's the one with the money." Also got them to match my financing from State Farm Bank, so they lost a lot of back-end profit on my deal.
This IS the most useful reply. Salespeople have answers to any objection or reasoning you can say. They don't have an answer for "thank you, but no."
I have 3 funny parts my wife and I had to deal with when we were buying a used van.
The car salesperson kept asking me "How am I going to be Financing the vehicle?" I told her that I don't want to talk about that here, only after we settled on a price. She kept pushing and pushing by saying "here is a 72 month finance", "what is the max months you want?" So I said max of 60 months but this DOESN'T mean I am financing or telling you how I am going to paying.
So we finally settled on a price. We move into the finance office and she is going over all the rates, all of the options we can choose from, blah blah blah. I told her that I will be going with my own bank. She got really pissy after that point. She asked why she was told I was financing it. And I told her that I never said I was or wasn't. The salesperson wouldn't stop asking and I kept telling her that I didn't want to discuss it until after the price was set. The finance person was all annoyed while I was on the phone with the bank I was going with. Kept saying "I sure hope the interest rate is way better than what I can do." Saying I could just finance with them now and then refinance later. I just looked at her like she was trying to claim she was Zeus.
Now this is the best one. The doc fee. Oh boy the doc fee. They wanted $399 for the fee. I told them out right that it was outrageous and I'll only do $75 MAX. The salesperson said "We can't charge you something different. If we charge someone one thing we have to charge everyone the same." And "It is the lowest in the state." I told her "I understand that you can't charge me differently. You can take $324 off the car's price and we'll be good." She says "I have already given you such a discount, I can't do anymore. You're already getting this car for a steal." The discount was only $500 for president's day weekend, and $1000, so not much of a steal but still under KBB's middle of fair price range. So she went to her boss, they talked it out, she came back and said "I can give you $214 off the price." So I said nope that won't work, got up, grabbed my coat and started to walk out. Until the phone ringed and I was told that they can do the $324 off. So I sat back down and waited for her to come back with the updated price. They used whiteout on the old numbers but I took pictures of all sheets and was using my phone's calculator to make sure nothing shady was going on.
In the end my wife and I drove home with a new car. Didn't get the deal I was hoping for but still made the car dealer sweet a little.
Next time they try to offer me some kind of paint protection I'm going to tell them I don't even plan on washing the car.
Ha ha ha... i used to be a car jockey and detailer at a scummy dealership. Whenever they sold a paint and fabric protection for like $400 dollars. I would have to get the two cans of Scotch guard and Turtle wax.. which cost like $40 and put that on the car myself, when it was being cleaned up.
So yes tell them that you NOW know how to protect your own can, and you don't need their over inflated scummy products.
@@anonimous2451 You forget i was working at a SCUMMY dealership. You think they would spend the extra $5 bucks to get the good stuff... no way Cosmonaut
@@anonimous2451 you wasted your money, should of gotten the one that last forever and has a lifetime warranty backed by the company themselves
Just bought a car two weeks ago, I told him in all my adult life, I have not purchase anything in the finance office . The man still try to sell Lo- Jack subscription when it is already free. What a sleaze all. Thanks for all your information
I use to work in the box for many years. Every word you say Kevin is the truth. I hope God will forgive me for all the people I screwed over. Kevin, you are probably a bit to young, but when I worked in the box, we didn't even have computers. Everything was done on a Monroe calculator. We'd print off a 24 inch piece of paper and go down the list with the customer to show all the costs, interest rates and monthly payments. Those were the days, but it was sure easy to sell then as customers did not have access to information like they have today.
After watching your video I finally understand why my finance expert was so rude to me when I told him I do not want his services. He was in rage because his profit went out the window. That was in 2008 when I bought my last car.
Lmao
My son in law wanted a car from a car “supermarket “ in the UK because it was the model and colour he wanted. Being a auto technician I went with him. The car looked good, a few minor issues but good overall. The salesperson who looked like a 16 year old youth sat us down and said with a big friendly smile “I am here to look after you and get you the best deal I can.”. I instantly said “no you aren’t, you are here to screw us for the most you can get out of us and we are here to stop you. So let’s start again. I have never seen anyone look so shocked ever. That wasn’t on his script. We ended up getting a good deal.
most buyers don’t realize that the finance guy is typically the best salesman in the building. They spend an hour and a half beating up the salesman on price and let their guard down while walking into the F&I office, thinking it will be quick and easy.
read everything you sign....check the monthly payment adds up to interest....politely ask for 5-10 minutes alone to review your contract....numbers will be arranged differently than when you negotiated the deal in salesmans office....they always switch the numbers around to look different even if the bottom line is same
ANYTHING they sell, YOU can purchase on your own for much cheaper....
Bring in your own worksheet, notes, paper with you to the dealer
Be polite, but be firm and take all the time you need
I DETEST walking into a Shark Pit Dealership !
I bought a Mustang during the days when Ford used the catchphrase "Quality is Job One". They had "Q1" banners all over the showroom. When I got to the finance office, the guy tried to tell me that I needed an extended warranty. "Cars these days are very complicated and electronified. You can't fix them yourself anymore. You want to make sure you're not hit with a big repair bill." I asked him why they have all the "Q1" signs downstairs if there's a risk of expensive repairs? He had no answer. I took the car away without an extended warranty and I have owned it for 27 years/136k miles. It hasn't seen a mechanic other than for tires and front end alignment in all that time. Turns out, you CAN fix them yourself if you want to learn!
I aways tell them if I need an extended warranty then I should not buy the car
I put 50% down and the dealership still tried to sell me gap insurance! 😄 bought a extended warranty one time and it covered nothing!!!😠
You're right, I've seen that. No possibility that you needed gap insurance in that case.
Few years ago bought my wife's late model car. "finance" guy tried to sell me everything under the sun. I declined the ext warranty but then he said it was free or 90 days cancel at any time no questions asked. 92 days later i was in a panic to cancel it. You know the rest. Thanks tor your excellent info.
Those aren't pictures of his family. They came with the frame. 😁😁
Or it’s a yard sale picture. 🤣
Lol..
…As long as a demon and/or a witch was in is the picture, I would believe it was his f*mily
I would add my last sleazy finance guy promised me things that were never put in writing. Make sure all promises are in writing.
Hey Kevin: Absolutely love these role plays that you've created to deliver crucial points. Really drives the point home through visual examples together with your interpretation and crafted subtle meanings gives me a chance to thoroughly dive in to, over and over again.
THANK YOU SIR, and your Team, for your help and hard work in producing this video.
Our pleasure! Thanks for your comment! Best of luck to you on your next car shopping adventure!
I love the way Kevin’s head slowly turns toward the camera when his bullshit detector goes off. I spit out my drink I lold so hard
Another good role play. I'm sorry to say my wife and I got bamboozled by the F&I Manager when we purchased a new 2012 Acura TL. He convinced us to buy the $500 tire and wheel protection package by showing us a destroyed wheel that hit a pothole. Never again! I seem to recall that he introduced himself as Mr Ben Dover. LOL
I think Kevin Hunter mentioned in other videos some purchases can be canceled after purchase. Sorry idr, but perhaps you can call the sleezy dealer to cancel it.
"Heard lots of good things about you from Ben." That's Benjamin Dover, your salesman!!
Oh wow! I met Ben Dover once! Never again!
Yes, never forget about Mr. Benjamin Dover!
"Hi, welcome to Anywhere Motors. I'm Bob Dooya, your salesperson, and I'll Dooya Right every time!"
@@markh.6687 LOL :-)
You have your own mechanic? Why yes, yes I do and I trust him way more than the finance guy. He is honest and doesn't try to squeeze "a little more" out of me. I know this from experience. A good mechanic is something you MUST have. NEVER go to the dealership for mechanical work. You will pay OUT THE ASSand more than likely they will come up with a slew of "other things" that "should be looked at" (same with quick change oil places...they are skeezy as hell) . This, also from experience.
Get your financing FIRST learned this from you sooo helpful!!!
Amazing thing when I did talk with the finance managers not a single one could even come close to the # I got with my credit union lol
Yes, get your financing FIRST
Kevin i love your videos…. I watched a lot of video “similar” to but “NOTHING” like yours. THANK SO SO VERY VERY MUCH SIR!
Thanks for all the advice and hard work you put in to making the videos. We really appreciate it 👍👍👍.
I love you peeps! I have learned SO MUCH about the dealership industry.
Love the roleplays! Ans of course the great content that you put into it.
Glad you like them! Many more to come!
Quality, so, so useful. Thank you!
Love the role play. Love word tracks for we the consumers. 🇺🇸
Love this channel.
Can you do a role play when the F&I guy finds he is dealing with a cash buyer?
Yes, we'll put that one on the board for completion!
@@KevinHunter I'm so glad you are working on the clash between F & I and the cash buyer
@@KevinHunter If you get your own financing, that should take a lot out of it too.
I recently went to dealer that would not sell me a car without all of their crooked add ons. Needless to say there was no deal.
I call that box, the room of doom
I have to admit having followed this and other like channels, basically its not worth the trouble to go to a dealer. Low mileage private party for me and my money!
Great Video Thanks Kevin.
I love it. Super High Intensity Training. SHIT. 😂😂😂
Ha ... The last Judas I dealt with was thought he was doing great, but ignoring my wife, he was doing the soft sell, the hard sell ignoring my wife all along....I finally smiled and said all the financial decisions are made by my wife...the CPA...she told him that we weren’t paying for the glass etching, the nitrogen, the paint protection, the undercoating, the extended warranty, she also knew about a veterans discount, and said we would only pay 80 bucks for the paperwork no dealer prep fee she said take it or leave it....oh and also after negotiating a pretty good price for the car with the salesman and telling him were going to finance ..... we paid cash and finally she she also told them to take the dealer name stickers off before delivery unless they were willing to pay us an advertising fee....I was so proud of her
Bravo for your wife! We love hearing stories like that!
Get your own financing and you don’t have to deal with these clowns.
I always call my own Credit Union right in front of them, and get the best rates I can from my bank. Then the dealer rates some how fall to that or better. Usully better because i will walk.
well, the smart buyer has financing lined up and uses to leverage something better from the dealership.
Love it,
The problem now is that banks has a higher % , snd no one fin officer will believe your BS- they know interest rates , the best is to get them as low as possible and right a check , I wish I have si much money .
Next time I purchase a car, Im going to tell them exactly how much Im going to finance and/or write a check for... That's it! Thank you for educating us. With my last loan (6 years ago), I cancelled the warranty the next day and paid that car off 3 years early :-)
#thehomeworkguy.... dude you ROCK!!!
A few years back I joined a friend when buying a car. I sat with her in the finance managers office and he offered her a warranty. She looked at me for guidance. I told not to buy it. It wasn't worth it. The FM instantly started asking "why do think that?". He was trying to get me to defend my objection. I didn't engage. When he saw he wasn't going to sell a warranty, he offered to discount it. I think she bought it for 50% of its original price. I told her it was still not worth it. She talked herself into buying it anyway. She hated the car. Complained about it constantly.
You know what's interesting about the "discount?" The finance officer is unlikely to have reduced the price at all. Instead, he most likely took it out of the price of the car so the salesman gets dinged... and the finance man gets his full commission on his product. Happens all the time and really pisses off the sales staff. Those guys are something else...
The finance office in a car dealer is like the HR office in your work, they're not there to benefit YOU.
Hey homework guy!
Even though I watched almost every video you shown how about going with me so I can buy a vehicle you got a better way of reading contracts and I do and see the way they try to butter me up for the kill!!!!!!!
Your actors are great.
Where do you get these "great" roll players? They seem so authentic! And so are the writers for their scripts.
Lot's of people on the team... that's it for starters. Then, several people who have followed me for years are always happy to help out. They enjoy do this. In the end, they also learn something from it, and have walked away with some pretty amazing car deals themselves.
Seriously these people are really good actors and sound exactly like the people who work at dealerships hahahaha
Did you know this sort of thing existed? My dad was a salesman. A word, from several different industries, not just the auto industry. No salesman can ever guarantee a level of service.
I’m not planing to buy a car anytime car soon but men I’m addicted to this videos lol 😂
Welcome aboard!
I cant believe that this is what it’s come to.
We have to be taught how not to get screwed when buying a car.
I made a deal with saleman for otd 65k his manager try to add another BS 1800 to it . Told his manager abt the deal and walked out and told him if u do not honour 65k deal and call me again consider take 1k down and 2 days later got the same car for 64k delivered to my house. Thanx to u guys
Most people don't have [ the nerve ] to say this to Judas but I do: "i'm not like most people. I'm intelligent and snobbish. I am so above average I don't fall for the usual salesman tricks."
Hmm. I am just thinking how interesting it might be to wear that "Is that the best you can do?" shirt into a dealership when finalizing a sale.
Can you do a video about who you should bring with you when you go to the dealership? I usually try to go with soldiers to the lot so I can keep them logical and grounded, but there's also been cases of wingmen who end up selling you harder than the salesman does.
UK dealers don’t have finance managers the sales guy does the whole,process.
If you need a loan and a car and can't wait to save just use a Credit union their like banks but more member-focused. The only reason I can think of to use the dealer finance is if the car deal is much better because of it.
True, at the moment Honda offers down to 0% APR and $500 student rebate but only with that same Honda financing
Kevin Hunter, Another great video! now, could you take a step out of the showroom, and tell us what the "screw" is, for that Car shield!" thats advertised on tv. Basicly its car insurance in case your car breaks down. i think the fly in the soup, is dealerships and car m,echanics dont want to do the work and will give all kinds of excuses, because they wont make as much money.Or they may say, ya well do it the waiting shop time is three months. You have to go to find a shop that will do it. what do you think,? can someone tell me they had good luck using this product!!I would appreciate honest answers, Thank you!!
Hey, if you're not honest, then what are you??
Also try this: take a stopwatch with you and press start; and then place it on table right in front of yourself when the five minute thing comes up. Glance at the thing after a minute or so, or after he hits his first punchline. This is also a physiological thing that will work against a rehearsed salesman; and clearly spell out that you are in control.
What are ur views on: The LemonAid books in libraries? Thanks👍
Love your videos and thank you for putting this information out.
I watched one of your videos other day about 11 fees to avoid. And I want to know is it advisable to let salesperson know before he takes you to finance office that you'll agree to $75 doc fee and nothing else?
No, hit the finance officer with it.
@@KevinHunter cool thank you. For advice and prompt reply
Looking at the first presentation of Judas Bundy: My first thought is "You call that a smile? Seriously!!??!! It looks more like a big cloud of gloom over his face. It looks like a man who has been told by his wife to meet him as soon as possible after work at their favorite steakhouse restaurant. She said she had an important announcement to make and she wanted to do it a grand manner. His big fear is that she is going to say "I want a divorce. I've been secretly dating your best friend for five years. i want to marry him at the justice of the peace and then fly to Las Vegas for a flashy honeymoon."
I have been watching these videos for a few days now. Wouldn’t it just be easier to use a service like Carvana?
awesome. i’m getting ready to buy and it’s terrifying… The more I learn the more overwhelmed I feel. I just can’t remember it all and it’s so much harder to pull the trigger in the heat of battle. Man I hate this...
Remember your two best answers: "NO", and "I'm sorry we can't do business/a deal today."
You're never obligated to make a decision on the spot. Take the info home with you and look it over for a day or two to make sure everything is right.
Same Here... new car for my wife... getting rid of the 2009 honda accord with 235k miles! I got my money's worth! Great car after we got the brake problem fix... in the 1st year!
Looking at a Mazda, Toyota, or Honda midsize SUV! I will send the deal info to this channel for review! Maybe give you guys a Big Laugh!
@@MarsMan1 That's great how guys are able to trade in their wives for new cars. Much easier than divorce, just sign the title over and she's somebody else's problem.
Wait.....you mean you can't do that?? Uh oh!
I'd better call the dealer before they slap a "Low Mileage" sticker on her; that would be consumer fraud also!
@@markh.6687 LOL... I will keep the wife... she is low mileage and low maintenance! Sometimes annoying but well worth the minor inconveniences!
BTW... she likes the Mazda CX5 Signature in Red! We will see if I can get a good deal on it... without having to give up an arm and leg for it. (Her Arm & Leg)
Kevin, I don’t recall on any of your videos,that how much off of invoice from the factory can you deduct off of deal,and the rest of it (the add on’s and fake fees) you can have taken off when you agree to the price? #kevinHunterThehomeworkguy!
Your videos let me know that I just got suckered into extras I don't need. How can I get the contract changed, after the fact?
Toyota Diler in Orlando fl in obt cam artist
How about dealers that do "1 at this price" deals? I understand that the buyer has no choice on the trim and color/options, it is always the base model. A dealer here sells an Elantra (MSRP of 19k) at 14k. With sales tax out the door is less than 16k. Sonata hybrid (MSRP 28K) selling at 19K, out the door price at around 21k. Are those good deals assuming you are not picky with the color/trim?
The hook we fell for was the show room car comes with a second set of wheels. We asked why. They responded as the car came with the first set and the dealership wanted a more popular look. The wheels came in these huge boxes , and it only was the rims. Felt so ripped off. And I hated the fancy wheels. Wish I would have seen these videos 3 years ago.
You were upset that you don’t understand the difference between a tire and a wheel?
@@madmatty7585 let’s see you would think a rim and a tire make up a wheel , if I’m not mistaken.
@@sticks29pgm29 you could think that, and/or assume that. Either way, yes you would be incorrect. The rim is actually a part of a wheel, but is sometimes (technically incorrectly) used to refer to a wheel. Either way, they are surrounded by a tire, which is the rubber part that makes contact with the road. They gave you the wheels so that if you didn’t like them, which you didn’t, you could easily swap the tires from the old wheel to the new wheel which would have been very cheap at the dealer or any place that sells tires.
Got into a shouting match with a closer over GAP insurance I didn’t want and more importantly (didn’t need) I was putting money down and was in no danger of being upside down on the loan. He went on and on about how the bank wouldn’t approve the loan if I didn’t take it.
Do the put these fees on used car or just new. If not what fees do they put on used.
Hi I am about to buy a car a have a big question do they have to run my credit before I start negotiating the price car?
What are your thought on using auto brokers? Can you make a video on it? Love the videos and information
Auto brokers can definitely be useful. We'll put it on the calendar to get it put together soon for you.
do you think they work for free?
I don't want to be in any that's why I buy my own cost private and used and they left hell yeah.😃
I tell them 3 strikes and they are out.
I'm a victim of finance manager JUDAS.
I'm so dumb😵
@@scottr2706 Amen to that brother.
I love hearing about the option of filling my tires with "pure nitrogen" for $500. I start chuckling and say the air we breathe is ~85% Nitrogen and the car won't be on a racetrack 100% of the time. So Fk no, if I want pure Nitrogen gas, I'll get a bottle from Air Products, Inc. That shuts them down so fast, no more special deals they reserve for fools.
I hit them with Scripture and say "The Lord instructs me in the night." Psalms 16:7 - The Lord will give me guidance at 5:00 AM. Salesman hate that
What can I do to get you into Heaven today?
Is better to use a credit union’s car buyers service?
I belong to a credit union, generaly speaking they could be a tad cheaper on a lone. you should check out your bank, and credit union. However i will say,the interist they will give you on your money is a disgrase! whats one percent? take you six months to get a free coffees worth!
Thanks, Kevin, How do you make the transition from telling the sales guy you want to finance over 60 months to getting the out the door price to pay in cash? thanks...
Tell them that you'll look at financing... but ONLY AFTER you have an OTD price. They'll come up with the OTD pretty quickly when it becomes clear the conversation isn't going any further without you having it in hand.
Went into the finance office after I declined all the things/items that you advised to avoid, I was asked told that I had to sign my name to a line that was labeled “Declined “ do I have to sign that? If so why?
Why wouldn't you want to sign it? It eliminates any ambiguity in the purchase agreement by confirming that those items aren't part of the deal. I would sign it gladly.
hello dude
This is easy,just get up and walk out,see how fast he gets you back in his box and he won’t mention anything about a warranty
anytime that we walk in the dealership to look for vehicles and they ask for driver's license are we supposed to give them to them because they're claimed that in order for us to drive a vehicle we supposed to give our driver license do you have any explanation over this
tyx
Never surrender your ID. You can't drive something when someone else has it.
"80% of my customers buy these coverages" (He just gave you an out!) "I will be one of the 20% who does not buy" "I appreciate that you respect my decision!" "I also appreciate you will not be like others, and ask me why I do not care to buy this extra stuff!"
I've been trying to make negotiations on the car price via text with the sales rep I'm working with.... She's telling me no over a $500 difference AND trying to raise the price even more because of some work they had to do on the vehicle. I said that I'll go somewhere else and she let me go. Do you think she's playing me? Am I better off being in the dealership for the price negotiations?
She’s serious. I’m sure you know by now but over text they have nothing to lose by turning you away. Only negotiate in person.
Hi kevin. New to your channel bc im in the search for a new car. Very empowering. I got 2 proposals from one dealer with an acceptable sales price. However one included 5 yr financing and the other one included service agreement and maintenance agreement. Both of which I want to reject. I want to pay cash also. What do i tell the sales person? I know you said not to mention cash buyer until the end of F&I. Also i told another dealer about the offers to see if he can beat it. That sales person wants to see the propsals to see if he can beat it. Should i show it to him?
Here's what I'd tell him. "If I show you the proposal they gave me, and you find a way to beat it... fair is fair. I'll show your improved proposal to the other dealer, and see if they can beat you. With that understanding, would you still like to see the other proposal?"
You can always check the finance agreement to see if there is a prepayment penalty. Then call the finance company a week after taking the car to ask for a 10-day payoff amount, and just pay the thing off!
This is why I buy low mileage cars from older retirees, don't have to deal with slimy finance guys or salesmen.
The dealer want to spread out the loan longer so he can show you how low your payments are going to be. Does the the money the dealer gets via the loan very with the length of the loan?
Yes
After dealing with EA on many aspects of my gaming life I have always been weary of people like this.
Finance guys wish they could be as sleazy as EA.
It’s a piece of . . . ., but not “mind”.
sometimes i feel like Keith Morrison from Dateline is giving me this advice about Car Dealerships, and not Kevin Hunter. Lol their voices sound similar.
How do we cancel the extended warranty?
By going back to the originating dealer. They don't have a choice, no matter what they say, they have to cancel the warranty.
The expensive cologne LOLOL.
The best way to fight back against this to buy for long term and reliability so you spend less time with Judas. Keep your car way past its payoff date
Can u help someone to purchase a car
Hey Kevin I'm thinking of buying a used car with 60000 miles on it and there is no warranty left......what do I do if the engine/transmission has a problem? Can I call you?
No, you go back to the dealership you're working at and ask the guys standing around the kool-aid, "Hey, do any of you have some new lines to ask so I don't sound so much like a car salesman?"
Is there a psychological manipulation in the fact that car dealerships still use loud dot matrix printers to print out contracts in 2021? Get a freaking laser printer and print things in triplicate. Make the clicking and clacking stop!
I bought a car in 2018 (for cash and I declined all the extras) and they used a laser printer for most of the documentation. The only exceptions were the odometer statement and the application for title, both of which had a copy sent to the state and required a signature. They were either printed before I got there, or else they did it in another room. I don't remember hearing a dot matrix printer at all.
“This is what ‘most people’ do.” and “People are stupid.” are two prolific sayings... which one is it? Or is it both?
They are certainly not mutually exclusive! LOL
Cool Channel👍👍
I'm sorry
All I heard was.....BLA BLA BLA....
I used to try to sell cars.....But I suck at life and couldn't close a spring loaded door.
Love your videos but the thumbnails and titles are just so hard to read
A question:
When and how should I say I would like to trade-in my current vehicle, when shopping for a used car at a dealership?
He must of taken Andy Elliott training