How Dealers turn your Cash down into profit! Car Buying Tips
HTML-код
- Опубликовано: 5 июн 2021
- Cash down is always important on a car deal. It keeps your payment low and a better chance of not having negative equity. With these car buying tips, you can buy in confidence. I can help you save thousands of dollars on your next car purchase with my Auto Car Buying System. AutoCarBuying101.com Sign up for my next webinar and I will show you how to do it. (This is NOT stuff I share publicly)
▬▬▬▬▬▬▬▬▬▬▬▬▬
Get your Swag chevydudestore.com/
▬▬▬▬▬▬▬▬▬▬▬▬▬
SUPPORT THE CHANNEL using this link every time you buy on Amazon, Just click the link and buy whatever you want. (bookmark it)
www.amazon.com/shop/chevydude
▬▬▬▬▬▬▬▬▬▬▬▬▬
𝘊𝘢𝘳 𝘉𝘶𝘺𝘪𝘯𝘨 𝘛𝘪𝘱𝘴 𝘢𝘯𝘥 𝘮𝘰𝘳𝘦 𝘪𝘯-𝘥𝘦𝘱𝘵𝘩 𝘥𝘪𝘴𝘤𝘶𝘴𝘴𝘪𝘰𝘯𝘴:
𝗙𝗮𝗰𝗲𝗯𝗼𝗼𝗸 𝗚𝗿𝗼𝘂𝗽: / carbuying101
𝗗𝗶𝘀𝗰𝗼𝗿𝗱: / discord
▬▬▬▬▬▬▬▬▬▬▬▬▬
FOLLOW ME everywhere:
ChevyDude.net
#Chevrolet #Louisville
You can now find me at my own dealership in southern Indiana. My wife and I started Mike’s Car Store Located in Georgetown, In. Where Buying a Car Doesn’t Have to Suck™
We specialize in Late model Used cars for all types of buyers. If you have challenged credit we can definitely help you and ensure you don’t get scammed or pay too much. If you are a cash buyer or have excellent credit we will be glad to help you as well.
We are also specializing in our new Car Grabber service. If you are looking for a late model car and don’t want to contact a bunch of dealerships just to have them show you cars you didn’t ask for. We got you. Just head over to mikescarstore.com and tell us what you are looking for and we will get it for you. 
Авто/Мото
I can help you save thousands of dollars on your next car purchase with my Auto Car Buying System. AutoCarBuying101.com Sign up for my next webinar and I will show you how to do it. (This is NOT stuff I share publicly)
This is probably why you got fired on your day off. If you were good and actually helped your customer understand the process you might have made it. Not all of us are liars.
So you helping people to save and cut the profit on an dealership in order to buy you program so you can make the profit. That’s interesting
Just came from Dave Smith dealership in Idaho and walked off from there without a deal after they tried to scheme me for another 5k. All these tactics you're teaching doesn't apply during these times, because they know the next person walking through that door will buy the vehicle at the price they're asking. I've had the worst experience ever. After calling the maangers lies a couple times to his face, he wanted to start over because even he got confused and didn't know what was going on.
I need your help I want to lease a chevy bolt euv and get the best price can you help me I live in Hollywood fl thanks love the videos
Always get preapproved for the vin you are looking at getting from your local credit union to confirm APR and loan term/months BEFORE you go in to the dealership that way the dealer has a number they have to match or beat, also GM usually offers $500 rebates to use GM banking but show the dealer before they run your credit because they have wiggle room on what interest to offer you and once you show them you have a confirmed APR that they have to at least match then that way you get both the lowest APR and the $500 off for using GM banking. When I bought my 21' Canyon they got a slightly higher apr compared to my credit union but with the $500 off for using GM banking it came out cheaper for me.
I bought my daughter a Honda pilot.They asked how I intended to pay I said I would probably use my own bank or finance and when we got the out the door price of the pilot finalized they asked about financing I said I was just gonna go ahead and pay cash.. The finance manager was pissed you could just feel it and see it, he got down right rude. He was trying to get me with extended warranties, paint and interior guard the works.. He was quoting how much electrical components cost. I told him I buy and sell wrecked cars as a hobby and that I could buy a wrecked pilot for a 1000 to 1500 and use what ever computer and electrical components I needed.. He then was saying how I needed special tools and Diagnostic equipment, So I informed him I had all that was needed and then he said I had to be a certified tech.. So I informed him that I used to be a certified tech.. It was the most satisfying car buy I have ever had..
Lol.
He’s not mad you’re paying cash, he’s mad you did t buy any warranties lol
We financed a CR-V today, with the intent to pay it off quickly. We financed out of convenience and all it’s always our local credit union. The salesman we ALWAYS use is excellent, and makes the process a literal breeze. The finance department was a bit of a drag. It was easy to tell the guy was trying to make conversation to get the sales he wanted for himself. He seemed shocked when I declined every warranty, tried to tell me how good Honda’s are, but how cheap the parts from China are on the sensors. I told him I wasn’t interested in any of it, he then tried to slip the “Certified for $895”. I said “no thanks”. He said “seriously”? 😂 he was still pretty nice but still tried his best.
Imagine if the dealerships lied as much as you lol
Did you at least buy gap insurance
I remember I negotiated with the head sales guy for over an hour, finally got a decent price, went to the finance guy, he then tried to upsell me on various BS that I didn't want, and literally would not take no for an answer and kept pushing. (I worked with dealerships for years as my job so I knew better) He then got frustrated and started to talk shit about my credit and my action plan on finding a car, I then was like "you know what, I don't need to hear your offensive attitude" and then grabbed all my paperwork and walked out the dealership. His face was 😲 The head sales guy literally ran outside and met me at my car and was like what happened?? I then told him why I walked out, and he was like Oh yeah, I would too... But we can still get you in this car! I was like Nah, I'm good, SEE YEAH. 😎🏎️💨 I ended up getting the car I wanted, with all the bells and whistles, at a better price a few days later.
over an hour man you have a lot of patience
i was at a BMW dealership, and was going to lease a BMW, i was young so they tried to take advantage of me, but im not dumb, i just played dumb and wasted the WHOLE DAY THERE, they even tried to drive me to the bank to get money out, while on the way to the bank the car salesman took me to grab lunch with him.... heheheeh at the end of the day i left and got a free dinner hahhaha,,, i didnt buy nothing i just kept strringing them along, a week later they called ne giving me what i origianally wanted, i told him good thing i waited but no thanks,
@@user-fk9vm6no5i try 8 hours and 2 different salesman like me buying my first car 😢
Cool story bro
@@amandaburleson2035 i wouldve love to see the salesman's face 😂😂😂, that was a good one
Here’s what to say people, don’t be afraid to stand your ground against the sales guys.
“How much are you looking to put down?”
-I’m going to put zero down.
“Oh so you must have pretty good credit?”
-Yeah I do.
“So what kind of car payment are you trying to be at?”
- Well I’m just trying to be at the best payment possible, so give me your best price and if I like it, I will take it. I’m sure we can come to an agreement.
TAKE THE PRESSURE OFF YOURSELF AND PUT IT ON THEM TO MAKE THE DEAL. REMEMBER: THEY HAVE TO SELL, YOU’RE JUST SHOPPING. NEVER GO IN THERE ACTING DESPERATE BECAUSE THEY WILL TAKE ADVANTAGE OF THAT. AND ALWAYS STAND YOUR GROUND AND DEFEND YOUR POSITION, DON’T BE AFRAID TO TALK!
What if I know I have NO credit should I still say yes if they ask if I have good credit?
I am going to see a car at a dealership I found on car gurus for 8k and I am wanting to put at least 5-6.5k down for maybe 3 years so hopefully my payments are pretty low instead of just buying it full and this way I can get credit
@@PrincessJ2414 I get what you are saying but it’s best for you to NOT mention the fact that you have that money down at first. Doing so at first will put them at a position to take advantage of that and they’ll probably still quote you high payments! Instead try getting a good quote without mentioning any cash down and then bring the cash into the conversation to leverage that and lead you to an even better payment.
@@PrincessJ2414 If you have no credit, then your financing options will be limited because they’ll most likely want you to bring a co-signer or put cash down. So it’s a little harder to get approved rather than if you were to have some credit history. In this case it may be better for you to try and say you will have a co-signer coming in with you (even though this might not be the case) and push them to give you some monthly pricing. The point of this is to get some pricing for your future reference when you try to negotiate at the point where you bring cash into the conversation. The point is that just because you have no credit, doesn’t mean they can just charge you whatever. Think about it. A $26,000 car is a $26,000 car, payments are based on that and nothing else. Once again you have to be able to stand your ground.
@@rodrigo49018 thank you this definitely helps! I’m checking it out on Tuesday I’ll try an update with how it goes !
Did this on my jeep. Got pre approved for 2.5% and they were insistent on trying to beat it. The lowest they got was 2.5% but they took 1k off the price so I would go with their bank lol. Less money I had to pay, then I just refinanced with my bank a month later and they gave me 2.29% lol. Crazy how much they want that money
You should make a video showing the full on process of buying (financing) a car the right way from the customer perspective
I had a buddy that wanted me to go in with him because he was intimidated by the car buying process.
I told him: "Remember you owe these people nothing. You don't have to buy anything they are selling. Your goal is to get the car you want for a reasonable price. There are thousands of the vehicle you want for sale out there so don't feel pressured into NEEDING to buy this one because it is the only one they have."
He went in and did great. I was looking at vehicles at the time too. So it worked.
99% of car buying is to never let yourself feel pressured, and know what you want and how much you're willing to pay before walking in the door.
its sometimes easier to rough up the salesman a bit first. this gets them in the right state of mind.
Wym by rough up?? Like piss em off?
You know it doesnt have to be like that either. They made it like this
I tried that once! Went w my friend and we threw him a beating! Im almost off probation! Bad move!
I get my teeth kicked in daily. Lol
😂
Don't forget people....
The sales guy may not be the one closing the deal but rather the one helping u pick and get excited about the right car. U don't always need to treat him like he's gunna try to get over on u. The guy he hands u off to inside the dealer to close u is that guy.
Dealerships would rather you do no money down because the bank pays a dealer flat based on the amount financed. So financing 30k they usually get $300. So more money down means nothing for dealer profit. Educate yourself on rates in your area check local credit unions. Pick terms and payments that work for you. Don't be rude to dealers for no reason. The nicer you are to them the more they want to help you. If your rep is being confrontational just leave and go to the next place. No need to get worked up over a car deal. People like this on YT usually have no idea what it's like to work at a dealership or weren't very good at it if they did. Your best practice is to educate yourself on market price for vehicles and understand how auto loans work.
Thanks Mike it's like the wizard of Oz. The man behind the curtain giving us facts.
Great video! Helpful.
I bought my last 3 cars this way
1. made sure to know my credit rating. worked on it for 12 months. went up enough to get me the best rates.
2. pre approved through my credit union
3. emailed 7-8 different dealers the car I was interested in (2 were used, 1 was new) to get the best price.
4. negotiated via email, confirmed the deal via email. Spoke on the phone just to set up a time for pickup.
5. Picked up the car after handing over a bank check.
There is almost no opportunity for them to pressure you or tack on bullshit like document fees and accessories and crap because its too late.
The only dealer that tried this crap on me was a VW in OKC. I was looking at the final number and they tacked on a delivery fee (not a destination charge), a tint fee (I didn't ask for tint) and a document fee of $300. I told them to take all this shit off or I was walking.
Hey, I'm trying this out but every dealer has told me to come in and talk a deal. How do you absolutely get them to negotiate over email? also did you test drive the car?
@@Usbarlas I definitely test drove the car, but didn't negotiate during the test visit. That was strictly to get a feel if I liked the car.
What make car are you trying to buy? I
This is exactly how I bought my motorcycle. I went to the dealership twice once to sign papers and look at the bike a second time to finalize everything after my credit union sent them the check. Even delivered it an hour and a half away for free since I didn't have my license yet.
@@Usbarlas Depends on the dealer. No one chased me after the drive. I ended up buying my Audi about 3 months after the test drive - from a different dealer that gave a much better price. At the end of the day, you need to have a plan in place and stick to it. Don't let anyone knock you off your plan. You are in charge!
Honestly i feel like I’m so spoiled. I work at a paper mill and we have a credit union that works with all employees. When i went to buy my wife’s car I told the credit union that and they asked how much it is and they write a check and that’s the exact amount. I got the loan through my bank at 1.9% interest rate and it’s taken out of my paychecks directly and i don’t even miss it
Jeeeez what I would give for that
Same with me. Every car I've purchased since 1989 has been with my credit union. I have NEVER missed or had a late car payment in over 30 years!!
That’s how I bought my Mustang through Navy Fed!👍🏿
I use my credit union also when buying a car.
So I'm assuming that credit union is the best way to go
Chevy dude thanks so much for your honesty and help in purchasing new and used vehicles. I recently purchased a used vehicle and used your strategies and it was very helpful
Every time you do a video like this it sure helps people out
Thanks for posting such great information for consumers. As a way to give you something back, I purchased the 8 steps guide and plan on using it soon to purchase a new car. Thanks again!
I love your videos, I am currently looking to buy me a newer truck and getting my fiancé into a car an out of her Jeep. So I keep going back to your videos so I memorize all the info! Keep it up you guys are awesome!!!
Great Work Chevy Dude As Always!!! Thank You.
Absolute great video for sure. It's all about understanding the numbers and you did a great job explaining it.
Thank you for providing the content you do. Thank you for encouraging all of us to help donate with you by making a purchase. 🙂
I would rather have root canal surgery than deal with a car salesman.
😂😂😂
Same..I always buy used. A new car just seems.like a bad investment 99.9 percent of the time
@@saltynutz6996 buying new is better right now
How about having root canal from a dentist that used to be a car salesman.
@@danieltercero89 yeah I noticed..that's good for people in the market right now.
When they start asking these questions I give them dumb answers. Paying with my Starbucks gift card, I want no payment , or just tell them I don’t know. They usually stop asking
😂😂
Just bought a c4 vette! Very excited!
I really find this information very helpful. Thanks for all you do!!
Love all the info and have subscribed to your channel...I will be in the market for a new vehicle so this will come in handy! Thanks!!
Man I wish I would have seen this before buying LOL keep up the good work
When I ordered my 2021 tundra TRD pro double cab earlier this year I told him upfront I’m going to pay cash for the truck, I’m not getting any warranties or any extras, and they were really cool about it.
Get your own financing. Lock all 3 of your credit reports and walk away if they keep playing games. I never put anything down (not even the taxes) and never had a problem buying a car using my own financing except for when all dealers went on a power trip when there was a shortage. Just waited it out and when I saw a Venza hybrid sit on a lot for 60 days and the asking price went from $40k to $27k I jumped because they were desperate to unload it. 2 years old and 15k miles on it with all of the Toyota warranty.
Thank you for the info I sure will be using this next time I am at the dealer
From one Chevy dude to another, spot on on everything.
Thank you! You really give a really good advice! I’m so glad that I came upon your RUclips. I know I always had been getting ripped off all these time. I used to tell the sale guy I’m putting $20k down right at the beginning.😩
I just did that today lol
Awesome video Mike !!!
Thank you for your help! Might be purchasing a car this week and you are very helpful. You know they REALLY push leases. I never had an interest at all in leases. Some pros and cons but when I come in there saying I want to buy, why push a lease? Wow explains a lot, profit profit profit.
Alright. That clip from Friday got you a sub.
Thanks for your help! This is all stuff I recognize when we bought our last new car.
When we buy our next car, I will use all this info.
You need to ask for help
HOLY SHIT I had an idea do a video of you buying a car, walk into a lot and use every single tactic you've ever talked about and make the ultimate Chevydude video
Knowledge is power!!..Thanks CD!
i made the mistake of telling the sales person i had $8000 to put down way to early so then when i got the final sale contract i noticed all the warranties and and stuff they were trying to sell me came out to exactly $8000 making my down payment pointless
Love this. Planning on buy a car in a month's or so. Will definitely use these tactics. Much appreciated💪🏾💪🏾
With the chip shortages and all of the problems new cars have anyways, I would never buy a brand new car...EVER. You should put your money into an old-school Chevelle or Nova and you will be a lot happier. Up to you.
I have been looking at cars for about a month now. I need one but I’m not desperate for it. I can see the difference in how I initially started looking and now.
A lot of helpful info. Thank you!
I have always delt in out the door costs and its so frustrating that dealers just shut down when you refuse to deal with monthly payment conversations :(
All the new cars I've purchased was through the supplier discount program which has been a pretty cut and dry process. It's awesome when they have a factory rebate to tack on to it.😉
How do I purchase a car through the supplier discount program?
Totally going to buy from yall when I can
Awesome Video!! Thanks!!
Carvana and Drivetime share the same parent but are separately operated businesses. That makes sense.
Who’s the parent?
You can watch as many videos as you want. Thing is if and when you get a good salesman they’re gonna get ya everytime. If you feel like you got a great deal that’s when they’ve really got you.
Facts
What is worst nightmare is when you come in there with cash if you got cash they don’t want you there because they’re not making money off that down payment that you don’t need to put down to walk out of there with a car because again wherever you’re getting financed through there getting the full amount of the car and some on top of your down payment
This guy is the real deal!!!
I just bought my first brand new vehicle. I tried to do research and although I am relatively happy with my payment I still feel taken advantage of. Wish I found your videos first. Well I found them now. Time to watch for when my wife gets a new car
I feel the same way! I researched and stuff and bought a 2021 Nissan Sentra SV. I told the guy I didn't want to extended warranty, he ended up adding it and I felt pressure in their office. But I'm paying $322 a month now for 72 months. I feel taken advantage of. 😭
@@10125 what was the bottom line price? 23184 isn’t bad but if the car was 19k then yeah. That’s bad
@@mokokoco4720 like 21k total
@@10125 extended warranties can usually be canceled.
@@10125 Kevin depending on rate you can go by the German rule that at 72 months at 0% it's about $17 per $1,000. I'm not a mathematician but 322 sounds pretty accurate if you got even just an average rate. I work for a chevy dealer so I see this everyday too.
Thank you chevy dude because of your videos I was able to purchase a new Chevy trailboss lt . No down payment the salesman really wanted me to put a down but it didn’t change nothing on the monthly payment really . Your videos are super helpful.
How much did you pay for that trail boss? Im in the process of purchasing one as well
Man thanks Chevy dude
Take notes boys. This is gold
My son was going to Lease a new Volkswagen Tiquan from our local VW dealer, he had a 2018 Tiquan that had 2 more payments left on the lease. They said they would match Carmax offer for the trade-in, Carmax offered $18,000 for it. We had gone on Volkswagen credit to see what the payoff was, which was $15,588 at the time we checked. So with the Carmax offer we went back to the VW dealer during the buying process we had never showed them the payoff amount that we had gotten off of VW credit. They came back to my Son & said the payoff on his car was 16,900, that's when we said no it's not & then we brought out the payoff quote from VW credit & they go oh & the salesperson went back to the Sales manager, they still didn't come back with the right figure. So my Son & I left took the Tiquan back to Carmax sold it to them & the final payoff was $15,612. My Son ended up buying a Buick
I put 4500 down and financed a 2021 Jeep Renegade with a trade in too. I also negotiated my trade in they at first said 6000 well Nada and blackbook had mine at 12000 we finally went back and forth for a few hours and settled at 11000. I read the sales contract too. Thanks to your videos this car buying experience was much more knowledge on my end and it was nice knowing I didn't get screwed. Didn't talk about payments either
Is it worth it getting a brand new car through down payment, or should I just save up and pay the full price (after negotiating it) ? the one I want it's worth 30-32k. Honda Accord 2.0t 2021.
smart man. Appreciate you.
I’m learning so much
This is why if someone doesn’t pay cash, always have financing approved prior to even walking into the dealer. I’m always able to negotiate a lower overall price and don’t have to get as large of a check from my credit union.
So if you're preapproved how does it work??? Do you go shop for a car and once you know which one you're getting you go back to the bank and ask for the money???
@@coriisvilla2925, that’s how I did my last one. Found the truck I wanted, negotiated the final price then filled out my loan request and got my instant approval. Picked up the check the next morning and drove to the dealership with it.
Oh if you want the best interest rate without having the interest rate marked up by the dealership then you have to go get your loan through your own credit union. Also do not let the dealership use only the factory rebate to discount the car and make sure they discount the price first and then give you the rebate on top of that.
Great video. Thanks.
I negotiated a deal on my F 350 and had 50 k in cash from the sale of another truck I had. The cash was locked in my sons truck because he had given me a ride to the dealership. When the salesman said let’s get you over to financing I told him don’t bother I will be paying cash. The look on his face was priceless. Needless to say, I put the cash on his desk and wrote a check for the balance. That was a fun day, now I have a new truck free and clear no payment. I was lucky I was able to actually negotiate because I bought the truck about a month before inventories started disappearing off dealer lots.
You should do a video on how to get the best price on a new car. Most dealer have no inventory so we have to order the vehicle
Right now MSRP is probably the best price you will get.. Since inventory is so low and demand is high there really is not much wiggle room. If you want the best price I would wait for inventory to get back to normal. What people also do not realize is that the mark up on a car is only between $1500 to $3000 on a car over $20,000 to $30,000 on AVERAGE. It may be more or less but is is not what people really think. Dealers really make money on the trade in like the Chevy dude says and the real cash cow is the service department. Also if you want to save real money and financing make sure you shop the rate. Like he says that people focus so much on the payment that everything else is secondary. Your own financing most time is not the best option. I would start there but I would tell the dealer that you would finance with them if they match or beat the rate your bank has given you. Remember, the average American buys a car every 6 years. A dealer does tens of cars per day. So as a bank, who would I give a better rate to? The customer who buys a car once maybe twice every decade or the customer who buys 10 per day?
I couldnt even get my company discount on a new ford
@@juanpablo8886 msrp is an incredible price right now .we don't have anything at msrp and nowhere should..who woule give away a car in a sellers market when barely any exist and the average price of used cars is far higher than new right now .trying to haggle in this market will get you nowhere and the car Will most likely sell same day to someone who's been desperate to find it .I had 3 people leave today because they wanted to shop around and come back and the camry , the bronco , and the tundra all sold within a few hours .they'll be upset tomorrow .if you find the car you're looking for and it's priced within the market , grab it immediately because people are fighting to put deposits on cars
@@mutinyrider666 That's what I said. Glad we agree.
Order your vehicle . It tells you the price . Tell the dealership on the pre- delivery inspection nothing on the repair order, no add ONS . You ordered it how you want it. Then just tax , title , registration and done
I have 15 years at dealerships and this is a great video, I’ll probably even show friends and family when they go shop.
I say treat buying like multiple deals and do your due diligence for each but be honest with yourself… buying a car is one deal, loaning the money is another deal, and trade in is another deal.
Why show it to them when they go? We're not just go with them and make sure they don't get fleeced
@@650tonydmany reason but mostly don’t want to know that much about their finances
really good video. thank you
Remind me next time I go buy a car to come get you so I can get the best deal possible great information I will use this as i defeat the salesman at his own game thank you my friend💯💯💪🤝
Lol
Another great video from a upfront sales professional. Thanks again for telling the truth about car sales.
Mr Simpson will give you a great bargain. You can tell how enthusiastic about bargains he is.
What’s the truth? Truth is to make money like every business the most a business make the better for the economy and for jobs. What’s the truth about Walmart. They also make money what’s the tru about real estate is to make money. What’s the true for the company you work for. Is to make money to be able to pay your fucking ass doing nothing.
@@cristianacosta3393 the butthurt is real
Sometimes a bank will ask for a down payment. Could be you have negative equity in your trade or your credit isn’t very strong. If you buy from a reputable dealership you shouldn’t have issues. Buying a car is a simple process, don’t over think it.
If it was that simple, dealerships won't be running scams
Exactly
@@JonBonesJones84 Really! What scams are they running? Or are you just running your mouth!!!
@@jeffreyferguson83 Scams? Lessee...
1. They don't really own the cars in their lot. They are making monthly payments on them. If they suddenly "bellied up" and defaulted, the financer would come over and truck them all out ASAP.
2. Since they don't own the cars, the only way they can actually make money is by selling you the useless add-on's, the worst are the flakey "extended warranty's".
3. If you need anything serious fixed, requiring actual component replacement, they will seek to do everything they can to get around it.
4. If they have a good experience with an honest salesman, and you go back to find him later, he will no longer be there.
@@tomt373 You have no idea of what you are talking about!
After buying 5 cars and trading a year of using them, I learned that the best way to buy a car is to go to your bank first and ask for a loan so you don't have to deal with any of those lying and cheating salespeople, and if you go to put some money forward give it to your bank directly
Great information to learn
When I got my car last week I went with a bank check and finance manager was furious. Then he started on the extended warranty crap and I said stop. I don’t want anything. He started slamming papers down and was throwing the docs at me for the sale. I said calm down buddy. I was out of his office in less than 10 min. I laughed when I walked out. The finance manger never gets a penny more out of me.
I had a somewhat similar with the finance manager when I bought my car in June. Even after I said no to the extended warranty (the first product he started with) he kept pushing back. After I had to firmly tell him no for the third time I finally said to him, “Look, I know you have to go through these products but I also know that I know about these products and I know I don’t want any of them and there is nothing you can say that will change my mind. If I leave here in this car, it will be with the base payment amount that is showing on your computer for the OTD price that was already negotiated and with the financing I came to the dealership with. I’m not interested in wasting any more of my time here, so either you simply move this along and simply say the product, I say no, you say the next product, I say no and so on and we get to signing all the paperwork quickly so that I am finished in your office in about 15 minutes or so or we can just tear up the deal right now and I’ll leave in the car I drove here in.”
He didn’t even bother to name the other products, he simply turned back to his computer and finished things up and I was starting to sign in a matter of minutes.
The dealers hounded me for about an hour for me to buy an extended warranty. I did not cave in and saved myself about $3500. I said if something goes wrong, I will deal with it at the time. They were pissed.
I denied any extended warranties, gap warranty etc, after I signed the papers and left the office the finance manger raged and slammed the door and left very angry lol
Extended warranties really depend on the vehicle you are purchasing. If you're going to buy a Fix Or Repair Daily. You would probably want to go in on an extended warranty. I bought my last Fix Or Repair Daily in the mid 90's. The dealer put over 8,000 dollars worth of repairs in the car, yes this was 1990's 8,000 dollars.. The car lasted just outside the original manufactures warranty and it all went to crap when the extended warranty kick in. Bottom line I came out way way ahead. The dealer wished they had never sold me the extended warranty. If it's a car like a Toyota or something I most likely wouldn't consider it.
@@RickiBobbi69 I only bought the Tire and wheel protection was worth it. 2 of my tires popped and got replaced. 800$
@@Creeds-Creations $800 for 2 tires???
@@RickiBobbi69 oh well lol
This is why I don’t usually do trade ins and I always call ahead to negotiate price and pay in cash unless the interest rate is low enough where it’s more profitable for me to finance.
Its better to tell them you can do either one, this way way they think their going to make money off you when your ready to haggle and give you a lower out the door price. Then when go into the finance stage you can just "ehhh think I'd rather just go ahead pay cash". Did this before and worked like a charm
Wow thanks for the info awesome
This boggles my mind. I didn't get to choose my own phone bill, electric bill, car insurance, heck even rent, while I could choose to live at a cheaper place, I didn't get to pick exactly how much I wanted to pay every month. All those were decided based off outside factors. So why tf am I being asked to pick my own car payment????
When I bought my car recently I always said “ I don’t care about monthly payment what was your lowest interest” since interest is higher now
Thanks for the awesome info Dude.
Down payment is also needed to get some people approved as well
People with not too good credit.
@@nicholascropper268 exactly its not all about profits
Thats a lie , a dealership will do anything to get you in a car . They have a last resort bank to call that 100% get you the loan
@@marioguimond4276 you realize dealerships at most try to hit your score once twice and IF NEEDED a third, only work with dealership COMPANIES with good rep. First time buyers for example need a nice 5k down or a really well established co-signer. And I mean 740+
@@Siikesz maybe in the states but here in canada , i never had a loan or a credit card and bought a 30k car no deposit with 3% interest rate
What if I negotiate the price of the vehicle first!! , then in the finance department put cash down to finance less??
Down payments lower payments
I’ve always bought trucks never a new car but I just use the rebate as my down payment.
Anyone that doesn’t research prices, features, interest rates available from major credit unions like NFCU shouldn’t be buying a car or deserve to pay a little more.
Every $1000 down on finance is actually like $14 and change witch is a huge diffence
Depends on rate and term. The old $20/$1,000 rule was pretty accurate and still is for a 5 year term. Heck, 5 year term, $1,000 is $16.67 per month with 0% interest…
Honestly, most of the dealership encounters I've had have been negative. It's always, come see the car, oh sorry we sold that yesterday, then why did you call me this morning to come see it?? Or yeah we have that model, it's just $6,000 over priced, but you said it was $6,000 less?? The best situation for me was finding exactly what I wanted online, called to confirm it was not sold, showed up, inspected, then sealed the deal right there and then. The sales guys told me "you know exactly what you were looking for and what you are doing, obviously; this makes my job even easier." I took control of the situation and that was the only time I got what I wanted.
If you let the dealer shop rate you not only is the dealership pulling your credit report each bank the dealership sends your application is also pulling your credit report. That’s a no no you can have 5-10 banks pulling your credit at one time that can really drop your score and you gotta wait two years before these inquiries fall off. Which in return drops your credit score you worked hard on. I’ve seen dealerships say no we don’t do that here but in reality most do not all but most. My advice get your own financing from your local credit union or bank. That way your credit score gets hit only once not several times.
Why would you want to put $0 Down ? The more you put down the less payments you have, you pay less in interest, and you'll be in a great equity position. It doesn't matter if you get $1000's off the purchasing price cause at the end of the day if you stick with the whole term you're paying a lot more anyway lmao. Instead of talking a dealership down do your research and go to where that car is your interested in and buy it.
How do you feel about vroom/carvana/etc
This is great info
Lol this guy is definitely helping out his finance team with this one
I hope you start trying to answer folks questions. We understand you cannot get to everyone. However, direct communication with us would add more value and knowledge to the masses.
:15 - 11 Fake Car Fees you should not pay at a Car Dealership
0:51 - Car Dealers dislike informed Customers
1:24 - Two Rules to know about Dealer Finance
1:53 - The only legitimate fees you must pay at a car dealership
2:37 - The Finance Office is the Number 1 Profit Producer in the dealer.
3:25 - Don't Pay Dealer Prep Fees
4:26 - Don't Pay Dealer Advertising Fees
5:06 - Don't Pay Additional Dealer Mark-up
5:37 - Don't Pay Delivery or Destination Fees
6:12 - Don't Pay for Nitrogen Filled Tires at a Car Dealership
6:51 - Don't Buy Credit Life Insurance from a Car Dealership
7:12 - Don't Pay for a Vehicle Enhancement Fee in Dealer Finance
7:37 - The most commonly abused charges in Dealer Finance
7:49 - Don't pay for Window Etch Theft Protection at a Car Dealer
8:46 - Don't pay for Dealer Document Fees
10:10 - Don't pay for E-Filing Fees, Electronic Filing Fee, or Processing Fee
11:16 - Don't buy overpriced GAP insurance from a Car Dealer
Show less
Only bought from a car dealer a few times....one was in the late 2000s from a dealer that had a 94 caprice. They didn't even clean it or inspect it yet. My guess is they gave $500 trade in. I ended up paying them $750. Loved that car.
Another was a 10 yr old Daewoo. Granny wagon. Only paid $1000 because it couldn't pass emissions in the dealerships state (I lived in the state over).
I just can't do the big fancy dealerships. They are too much. I remember being real young with my dad and we'd look at the beaters in the back lot. The dealers would always work with you on those. Now they won't even sell them and send the straight to auction.
WOW 1st class very kool great info. AAAAAAAAAAA++++++++++++ again great video I liked it a lot keep up the great work
This is why I don't negotiate based on monthly payment. Negotiate the price of the car. I don't even tell them if I am going to trade in my current car, because they try to scam that on you too.
Salesman, "So your new car cost is $32,000, but we'll give you $4,000 for your car, so the 'cost to you' is only $28,000."
Me, "really sounds like the cost to me is $32,000..."
I get my financing threw a credit union they get mad at me
I have found the values of my trade in is the variable to play with the numbers.
Use a check or debit card. If you use cash usually it means your pockets it by adding it points to different people's interest during that business day equaling the amount of cash then they all pocket it. the managers.
Last week I went to dodge in Seattle to buy a brand new ram 3500, online and in the window sticker msrp was 72k, I sat down fill the application told the guy I was putting 20k down, he went away came back with the numbers, well he was gonna financed me 73k I almost had a heart attack, he put everything he could in there like extended warranty, GAP, paint warranty…etc any how the 20k down totally disappeared, but the lime that pissed me off the most was the price of the truck went from 72k to 78k because there is not trucks so they had to inflate the price, I asked why couldn’t you say that online I was told it was illegal to say that, buyers only know the inflated price after applying, I got up and walked away the dude followed me saying ok I bring it back to 72k and get you better rate, I said nope!! You lost me dude, that truck is a want not a need got on my car and left.
Same thing happened to me when I went to go buy a Tacoma. Guy marked it up 15k and took my keys. Manager called me an idiot for thinking I could get a Tacoma for 45k and saying my Subaru wrx doesn't hold any value. Completely lost my business and demanded my keys back. The Tacoma is a want not a need lmao. I could wait a year or two I'm in no rush but hey I still get calls from the dealership asking if I still want the Tacoma LOL.
so if i come to you to buy a new truck does that mean your gonna be straight up with me and not play games? serious question.
chevy dude says..."no comment"
Great info
Thank you!