I was taught the otd offer I give you $15001 otd one sales man asked me how I came up with that price ? I said I liked it LOL They used to hate that as they have to work the price back to get a sales price , 2-3 yr lease returns where the best buys some came back with 15k miles lot of life left or friends grand ma gave up driving her 2010 honda accord has 40k miles good life left service and dive it
What kind of person would trade into another vehicle while owing so much on their car and they owe more than it's worth, people like that will stay upside down all their life
This is what I've learned, the dealerships love buying back there cars, three or four years old, between 50 and 80,000 miles, something they only have to clean a little bit, and put it back on the lot. They really can't lose money on a trade like that so they will eat three or four grand in your negative equity, and put u in a brand new car for the same low payment. Finance for 6 years, slightly more expensive than leasing but with unlimited miles.
Dont buy a new vehicle until you pay it off. Being 10 k in debt on your trade in plus over paying on a new vehicle. Now your about 20 k upside down. Insurance Companies pay only 75 Percent of the vehicle. Now your 30 k down on that vehicle. Its the same with a lease agreement. The lest Company tells you that the vehicle is worth more than the insurance company paid. Yes your responsible for the difference for thousands. PLEASE BUY GAP INSURANCE ON YOUR VEHICLE NOW. GAP INSURANCE COST MORE, BUT IT COVERS THE TOTAL LOAN AMOUNT. SO NOW YOU DON'T HAVE THAT PREVIOUS VEHICLE GOUNG INTO THE NEXT VEHICLE.
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My dad was a sales manager at dealerships for most of his career. Taught me a lot about the auto sales industry so I never made stupid mistakes.
I was taught the otd offer I give you $15001 otd one sales man asked me how I came up with that price ? I said I liked it LOL They used to hate that as they have to work the price back to get a sales price , 2-3 yr lease returns where the best buys some came back with 15k miles lot of life left or friends grand ma gave up driving her 2010 honda accord has 40k miles good life left service and dive it
What kind of person would trade into another vehicle while owing so much on their car and they owe more than it's worth, people like that will stay upside down all their life
If the car lot takes my car, It really doesn't matter what they do with it, but I do love your informative videos
Cheers from Saskatoon Mark!
This is what I've learned, the dealerships love buying back there cars, three or four years old, between 50 and 80,000 miles, something they only have to clean a little bit, and put it back on the lot. They really can't lose money on a trade like that so they will eat three or four grand in your negative equity, and put u in a brand new car for the same low payment. Finance for 6 years, slightly more expensive than leasing but with unlimited miles.
Have you heard about the Honda-Nissan merger? The companies signed a memorandum of understanding.
I sold cars in college. if they are nice they sell it on the lot. there is more money in used cars than new. Or it is sold to dealershipos.
Dont buy a new vehicle until you pay it off. Being 10 k in debt on your trade in plus over paying on a new vehicle. Now your about 20 k upside down.
Insurance Companies pay only 75 Percent of the vehicle. Now your 30 k down on that vehicle. Its the same with a lease agreement. The lest Company tells you that the vehicle is worth more than the insurance company paid. Yes your responsible for the difference for thousands.
PLEASE BUY GAP INSURANCE ON YOUR VEHICLE NOW. GAP INSURANCE COST MORE, BUT IT COVERS THE TOTAL LOAN AMOUNT.
SO NOW YOU DON'T HAVE THAT PREVIOUS VEHICLE GOUNG INTO THE NEXT VEHICLE.
Yes in todays market GAP can help with expensive vehicles and longer loan terms puts buyers at risk. I also agree, pay of old car first.
Damn
Thanks for watching