😮How To Buy A Used Car From A Dealership-Ex Salesman Exposes Their Trickery🚗
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- Опубликовано: 24 ноя 2024
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How to buy a used car from a dealership . How to buy a car from a dealership can be very confusing stressful and exciting all at the same time. I have many years of experience in selling cars as well as buying them. In this video I explain how to buy a car from a dealership the right way. Be careful and keep your eyes on your money and don't get ripped off by being led astray.
Here's my car buying tips playlist: bit.ly/CarBuyingPlaylist
Find a great dealership in your local area here: newautonetwork.com
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As an ex car salesman who essentially was kicked out of places because I was selling cars for too cheap lol because I believed in customer advocacy. I support you. I broke every record (sales in a month, closing percentage, review rating etc) and they still would steal my bonuses and boys club up on me. So I went into real estate to do the same for my client there and it worked immediately. I’m not the top agent on a team of 60 and a top 1% agent in the country. Why? I would say hard work but I’d be lying, I just care about my clients and I do as they ask and I make lasting relationships.
We need more people like you brother
💪🏿🔥🔥🔥🔥
Commend you sir. Welcome to Real Estate. Happy to see a fellow Agent who also has integrity.
Yes, indeed. Thank you too!
Hi Andrew, where do you live? Where is home base as a realtor?
As an orphan, this guy is like the dad advice I never had the chance to receive. You don't know how valuable this is, brother.
🤣🤣🤣
Orphan? I’m sure you’re an adult by now
@@nyb3894 I have a disease known as "Benjamin Button" syndrome, where I actually age backwards. No thanks for being ableist 🙄
@@mercedesgibson1057 you must be a liberal. Victim mindset. Said nothing about your health. I’m also a nurse. Dedicate my life to taking care of others. Hopefully you get it together.
I think you meant father, not brother. 😅
Don't let the dealership finance you, come in pre-approved already from the credit union or some other financial institution! Sometimes, they'll try to beat it and they'll know they can't jerk you around!
Facts🔥🔥🔥. That's what I was gonna tell them also. Ur own bank can & will get you the car👍🏾
@@naimsalahuddin-bey2919 and they can and will refuse your business if it doesn't make good business sense to the dealer haha
@@DavidScott-jf1wo why would they refuse buisness when they are still going to be making the same comission?
Truth! They have less interest unless the dealership itself is having 0% at the same time you go in to purchase
@@rochellec.1891 The sales person wouldn't. The dealership would. If we lose money on a deal or it doesn't make sense we will refuse the business. Dealerships make money off you financing
Toyota dealership in Carson, California tried to tell me that my 754 credit score didn’t qualify for their 0% special. I calmly said “ So you’re trying to tell me that score doesn’t qualify?” I said I didn’t want to waste my time and grabbed my purse to leave. He quickly changed his tune. They count on us not being informed/ educated.
This read the same as “dumbledore said calmly”
I mean did you have enough down payment or qualified credit? If you’ve never financed a car or anything large before and have only had small limit credit cards a 754 don’t mean shit
Why do people have to play these games?? Walking into a dealership feels like walking into a dark alley at night with your wallet in your hand asking to get robbed.
That's a fact
It shouldn’t be that way tho. We as car salesman (the good ones anyways) have to fight this common prejudice every day we go to work.
Car dealerships literally lobby for laws that make them the only place you can buy a car. Amazon has been trying to do just that, where you can go online and buy a car for a set price
@@ststst981 You can already do that with Carvana and its a massive rip off. Never buy a car without a 3rd party pre-purchase inspection
@@thosearepinklemons yea but he’s talking about the law that you can’t buy directly from the manufacturer and have to go through dealerships. Countries where people buy directly from manufacturers have lower new car prices and lower used car prices.
I purchased my first vehicle 13yrs ago using this concept. I knew what I could afford monthly so I worked the MSRP. I got the monthly payment I wanted with no money down. Knowledge is power. Great video 👍🏻
Nice work!
Wow! Very smart!😁
MzTrish how did it work out for you on warranty?
Who else thought that was juvenile
WOW! Impressive. May I ask where you learned how to do this.
It sucks to not know anything about dealer tricks and also nothing about car mechanics, and what to know to look for in a test drive.
Wish I had a friend like you to help me buy a car.
man i tried somthing similar to this when negotiating with a local used car dealer, i actually got cussed out and verbally berated for daring to come in there and basically know they were trying to screw me. Dealerships DO NOT like informed customers. awesome video my man!
Facts I was just saying this. They will literally not serve you. I always secure my funding before hand and they will literally not even budge a bit in negotiations. They will gladly pass on you and wait for the perfect sucker to show up.
I’ve also experienced extreme aggression from salesmen when I talked about price negotiation at all. 😂
“We don’t negotiate price here, our prices are firm.”
Very true. Dealers don’t like to work with folks who know their game….
@@badboyinjordanzhow do you get the funding secured?
@@omarilowe451 I applied for a auto loan with my credit union before hand
This is great advice. I am currently in the car sales industry. I find that being straight up honest with customers works very well. I have to make money, but that doesn’t mean they have to get ripped off
Because we will do more business with you if you’re honest
thank u😇bc i got ripped off so bad (of course it was my fault), ill never ever step foot in a big dealership again🤬! i was so stupid 🙄i paid 2twice🤦yikes for my car; super dumb!!! i know🧐
@@queensun6059Me toooo! I paid twice 😢
@@redi8953 how do you pay twice?
@@kinggilga7875probably paid twice by paying more on interest rates than they had to and dragging out the payments to like 84 months. You can easily pay twice what the car is worth. The truth in lending act (TILA) says it has to be spelled out on the contract but truth is a lot of us glance over that part.
You can see the sincerity in this guys eyes to help people. You just know that he means everything he says. Thank you Rodney Samuels, you seem like a pretty nice guy. Rare!
He probably got fed up lying to customers and quit. But if dealerships don’t lie they don’t make money.
That’s the guilt - from putting many families in upside down deals… at least he’s paying off bad karma.
I thought the same thing, 30 seconds in and I decided to subscribe just because of that. I don’t even want a car idk why this was suggested to me lol
I can see weed in his eyes 😂
@@durapoker you gotta muster the courage to expose corruption somehow !
Tips that I've learned through experience...
- If you're buying used, avoid big dealers and shop at smaller lots that have good reviews. The owner/salesmen are generally far less pushy, more flexible and negotiable. But it's also better than shopping online or dealing with private sellers for several reasons.
- ALWAYS pay for an independent mechanic to inspect a vehicle that you are considering buying BEFORE you purchase it. Don't risk buying without it just to save a couple bucks in the short-term. Just don't. It can bite you in the ass.
These tips have saved me.
I show up with a code scanner, headlamp and floor jack and the salesmen start sweating. I've been wrenching for a decade already but since I'm 30 and baby-faced people usually think they can pull a fast one on me like I'm naive or something.
@@nlh719 😂 thanks for the info
Hey jh can i have your information? I need help buying a car.
Facts the more “poor”looking ones will get you right if your not stupid and look at the car inside and out
@captain scentsible39 why?
I was also a car salesman in the past. This man is spot on. However, this is more likely to work with people with decent credit. When you have bad credit these tactics might not work so well to your advantage. My suggestion is work on your credit, then walk in to the dealer and follow the tips.
Question? My health tanked on a govt job and it caused me to go out on full disability.. my income tanked on much lower temporary disability payments until disability kicked in.. medicals bills pounded me and fcked up my credit... I paid off all my installment loans and cars in the past but when I went to buy a new Jeep they ran my credit and they said why don't u file bankruptcy? And once it goes thru you'll be able to have a clean debt sheet and we will sell u the Jeep? Idk if he spun me bcuz I only had 2000 down with sketchy credit? Or if filing bankruptcy is a good idea? I don't care about the stigma of filing bankruptcy? I car about $$ and now I'm working again and have saved $$ but I'd like to finance a car.. I don't know any car sales people and I don't know if filing bankruptcy will be a good move or not? Yeah it would get rid of the medical bill debt ponding my credit..
Your thoughts?
or save the damn money and buy something with cash. you all know how many reliable cars you can get for not much money... we all drove them in the past!!!
Bankruptcy will destroy your credit rating for 10 years, period! Someone suggesting you file in order to do business with them is trying to screw you, period!
What would be a good starting credit score, in your opinion? I’d like to finance a 6k motorcycle of the lot with 2k down to help my credit grow a bit higher a bit faster. Currently only have one line of credit that is payed in full every month on time. Thank you for your time.
@@joshuamorales1095 at this point, you shouldn’t worry about what is a good credit score to finance your motorcycle. Sounds like you are trying to build credit. Ask for a free copy of your credit report and make sure you don’t owe any creditor, or have any bad debt. Sometimes, we thing every thing is paid until you actually see your credit report. Once you do that, start building relationships with creditors. Get a starter card with capital one. Maintain a good relationship by paying off that credit card in full ever month. Following these steps should lead you to the right direction to improving your credit score. Good luck
As a ex car salesman he is telling “exactly the truth”!!!!
You know what I did, I held back my $5k down payment I had planned all along. I started at $1500 and increased it only when they agreed to lower my interest rate. They started at 3.9 percent when I said $1500 D.P. As we negotiated I increased the down payment to $2k and they lowered it 2.15%. Finally I said, ask the manager what it will take the give me the advertised 0.9% interest you guys are advertising. He said $5k. I agreed. I was planning on putting $5k down the whole time. :-)
I gotta use that strategy next time. You cant just throw the whole hog to the wolves. You gotta break off pieces.
great work well planned👍
Was that a used car or a new one? If it was a new car, you can always get that rate no matter the down-payment, the essential part is the bottom line.
You can get that rate if you qualify for it. I'm a finance director, and if the customer asks for it, he'll get it. I think you lost that battle.
@@DarthTerminatti lol I thought the same
I felt like Denzel from Training Day was helping me shop for a car
🤣🤣🤣🤣
Lol
😂😂😂
LMFAOOOO
😂😂😂
Hey man another car salesman here well ex car salesman didn’t like manipulation game but this is 100% accurate man doing this so many times a day the same bullshit
I used these points to negotiate my car and it worked! I waited to bring in the trade and I fought everything separately, even the interest. Went from 14.5 to 8.5%. It helped to know I was pre-approved elsewhere and what those rates were, but this video was also extremely helpful. Thank you for sharing the knowledge in a comprehensive way.
Congrats! Glad i could help
What if this is your first car and tou don’t have a trade in
@@Rainy-rag3 just follow everything in the video. If you don't have a trade-in, you can ignore that part
@@RodneySamuels okay ! thank you so much 😊
Thanks for the vid! Dude!
Your strategy is on point. I read a book many years ago and it was called how to be the dealer. And covered all the strategies that you're talking about. It especially covered the four square worksheet that dealers use. The one thing that I think you didn't cover was how to reduce the MSRP of the vehicle how do we lower that during the negotiations. Please do a video on how to lower the MSRP price of the vehicle. Also whenever you go into a dealership they right away ask you what kind of payments are you looking for. I always tell him I'm not ready to talk about payments let me find a vehicle that I like first. At a price that I like then we can talk about the money. I also never financed through the dealership. I prefer to talk directly to the bank or to the credit union to find out what interest rate I qualify for and for how much money they were willing to lend me for a car loan. So that I know I'm getting the best interest rate possible.
In this market getting a vehicle for MSRP is a steal. If you're buying new expect to pay 20-30% above MSRP. Some models are marked up by 50% or even 100%!!!
@@xiaoyuwang3106 “expect to pay…” No. Not all dealers have markups. Your money,your choice. You are able to walk away if they try to make you pay for that BS markup. You should never go into negotiations EXPECTING to pay the MSRP “markup”,it’s either MSRP or I’m taking my business elsewhere.
There is no MSRP deals at this time
I’ve learned that one way to reduce the MSRP is to act like the car you’re talking about isn’t your first choice. You can say something like “Yeah the car is decent. With the price attached I don’t think it will be my first choice.” You can also “threaten” to go to another dealership. They hate that and will most likely drop the price in order to make the sale. If you act like there are better deals out there or that their price is too high they will likely drop the price for you. That being said, it’s important to not show much excitement when looking at the car for the first time or saying “I love it” or anything similar. If you hide your interest in the car it’ll make your argument more believable and like I said, they’ll probably reduce the price for you. Little trick I learned from my dad.
You're right, it boils down to getting the vehicle for the lowest amount possible, any one who can crack that code is on another level...
Also, never ever EVER give them the keys to your car that you're potentially trading in. They use this to keep you in the dealership waiting.
It’s crazy because this is math that could be taught in schools and it can save ppl from being in a bind. Stuff like this should be taught in schools just like credit should. Thank you for this information. I was the person who needed a car but was only looking at the monthly payments.
Math for everyday living is the math course that helped the most in high school.
My exact thought i learned in 20 years of home owning ,, i messed up when purchased my home.. Car buying, Home purchase, and credit should have all been taught at school my single parent home was clueless it took a movie i watched which was strange, but i saw myself in the movie.. called THEM...
Its not on purpose to keep the consumer ignorant about compound interest
But, then school would be setting us up for the real world and then we all would make far less mistakes. wasting FAR less money on learning by doing. This, well... Our Government would NOT stand for. Every financial mistake we all make is a gold mine to the overlords.
If they taught people how to be smart with their time and money, the whole shit system the schools are intended to support would collapse. That's why.
I just ghosted a dealer because they would not let me get a pre purchase inspection, but pushed for me to buy a brand new vehicle.
They weren’t gonna do that….that’s basically having the service department work for free. No offense, but they were probably glad you left. Car salesman want the easiest sale possible without the extra work.
As a Staff Accountant at a dealership, this video is 100% accurate. Also to get the best interest rate try to get financing through your bank before going to the dealership.
thanks for watching
How do you get interest through your bank...
@@mindhunter8772 you any for an auto loan through your bank before going to a dealership. It gives your more leverage and the dealership can't play as many games because you already know that you're approved so you basically go into the dealership and negotiate the price only because you have secured financing. At this point the dealership my try and beat whatever rate that your bank has given you, if they can beat it go with the dealership.
What if my bank doesnt offer financing?
@@ChiTownRaised most banks do especially if you bank with a credit union. If your bank doesn't offer financing you may wanna look for another bank, otherwise you're at the mercy of the dealership.
I secured financing through my bank. The dealership lowered the interest rate by a point and I financed through them. My bank called me two weeks later for an update on my car search. I informed them I had purchased a car and financed through the dealer. They called me back 30 minutes later and said they would refinance the car through them and dropped the interest by four points. Ended up financing the used car at 1%. My best car buying experience ever.
🤩🤩🤩🤩
Give me the warranty at cost.
I had a really negative experience just last year. I was planning on buying a new truck and the car salesman used every tactic you mentioned here. The guy was trying to convince me to buy a used vehicle that was also priced way too high in my opinion. Every time I asked about the newer trucks I was told that the vehicle was already sold. The worst part is that the salesman kept asking if I was interested in trading in my car. The fact that the car salesman was more interested in buying my car that answering my questions let me know that he was only worried about his cut. I ended up leaving and I got annoying texts for the next 6 months asking if I was still interested in a vehicle. I ended up buying a truck from a friend that has been great so far.
, p
What’s been good so far?
The truck or the friend?
@@chrisreynolds2410 I was referring to the truck.
Oh man, sorry to hear your buddy eventually ending up disappointing you.
But hey atleast you ended up with a good truck.
I fuckin hate dealerships. My brother has 1 good experience with one and it was for his challenger. Mine was much worse and the car was 30k less. They dont even act concerned about your concerns
Rodney, I'm an older lady who is totally alone and this video helped me so much! I'm a retired teacher and your presentation was fantastic A+ wink 😊
My brother you had me so relaxed on how you demonstrated this video. You started nervous, but finished strong. That means you know very much on what you are talking about. God Bless!
I was in sells but I refuse to cheat people. My way, I was one of the highest paid salespeople. You have to be able to live with yourself. My supervisor thought she knew what it took,for me to be even more successful. I never followed her. I don’t regret NOT conning and tricking people into a sale.
Same but I wasn't at top sales but I hate cheating people
You folks do realize you can actually have a successful career selling cars without "cheating people." Guess some of you are not quite as good as you thought you were.
@@chrisshields1838 I wasn’t selling cars. And I know that you can be successful without cheating people. That was my point in my first comment.
My dad was the same way. He said repeat business was his bread and butter and that too many people were looking for the instant payoff rather than look at the big picture.
Bliss, blissfull,,. Good for you, that is what needs to be done.😁
I learned these techniques in the profession that I’m in. I have 2 more sly moves that dealers make for you: 1. When they offer 0% interest, always consider how long it’ll last and what your rate will be when that promotional offer expires. 2. Many folks go wrong by focusing solely on the lowest rate not realizing that sometimes the lowest rate dealers offer can mean a longer term or higher monthly payment! Great video.
Promotional offer? 0% is the entire length of the loan lol
There are literally no promotional rates from any major manufacturers that are not 0 for the entirety of the loan.
Not all dealerships operate as major manufacturers. There are many dealerships that have a cap to their promotions.
@@cinnamonrollonapancake any dealership that sells new cars operate under a major manufacturer. If you are talking about buy here pay here dealerships. You're getting ripped off from the start. A lot of buy here pay here dealerships tell you there's no interest because they've already built that into the crazy price that you're paying 3 times the amount of the vehicle. So a true 0% is only offered by dealerships working under major manufacturers which is 0% the entire loan.
@@joshmehl6164 Exactly, there are many dealerships that will rip people off with their “promotions” amongst other things.
Thanks black brother for helping the young minded that lacked guidance because for someone with little parent structure in my life videos like this keep me awake in life y’all plz follow and like this was something he didn’t have to share
I was literally going back and forth with a dealership about buying a car. They kept giving me these ridiculous monthly payments. I told them forget it and then I came across this video! Thank you so much sir you just saved me a bunch of money…
I'm looking for a car right now and every salesman I talk to wants to keep me focused on the monthly payment. After watching this video I realize what these salesmen are doing, thank you.
I’m 21 only owned one car I bought from a friend and this video helped a lot! Money is tight when your alone and young. thank you for the knowledge!!
Thanks for watching. Glad it helped!
@Fuzzi iii lmao yess, dealerships are terrifying
@Fuzzi iii same here lmao, i hate asking my mom or dad for help nowadays but i may need them to back me up on this decision for the first time
2 years later and you taught me a young man more than the school ever did about finance THANK YOU
Some car salesman are so sketchy with my car I didn’t know what I was doing and put down 1000 then when I left the salesman gave me a phone call saying “Wells Fargo said they want a extra 2k for the down payment because of your credit history” and I called Wells Fargo and they said that was not true which I knew it wasn’t. Some of them pocket money be careful.
yeah some dealers are real dirty like that. you were smart though
Damn!!! That’s foul man!!!
😲😲😲
I'm glad I'm reading these comments. You guys are opening my eyes to all of the games they play.
I had a stealership call me a month later telling me I owe them another $500 they even was calling my job. I told them to sue me because they ain't getting not a penny more from me. They finally got the message and stop calling.
I just had a HORRIBLE car buying experience and thanks be to GOD that he put in my mind to get up from the finance manager's table and leave that joke of a deal behind. You just shed SO MUCH light! God bless sir!
I agree
Go to your local credit union
what was the deal
When I was in my late 20s I got sick to my stomach when I was almost ready to sign on a deal I knew I couldn't afford I went to the restroom and prayed and got courage to stand up to the bullies They were super angry and they yelled at me and threw me out of the dealership for turning down the deal. About six or seven guys worked on me for about 8 hours. Worst experience in my first experience. Learned a lot and got a lot wiser and had great experiences after that
Don’t be scare to leave the dealership they need you more than you need the car
I like this comment . We had to do this last week, the salesman literally!!! (And i mean literally) was begging us to wait for his manager to get out of his meeting to offer us another deal. We said adios ✌🏾
"To win a negotiation you have to show you're willing to walk away. And the best way to show you're willing to walk away is to walk away." - Michael Weston
Not if u walkin
Oh yeah they'll dog you down so bad it's not even funny haha
I had to the other day. I asked the salesman could I see the original offer from the bank and was told no. Then asked what was my credit score after he told me it was much lower and he said “idk”. Just straight up lying to me smh also ran my credit multiple times after I said I didn’t want a bunch of inquiries
I’ve never purchased a used car warranty in my life, I have purchased mostly used cars to avoid depreciation value. I believe after market warranties are scams to get your hard earned money. If something breaks for some odd reason the part in question is not covered under the warranty or they’ll say it was caused by human error or something like that. Just make sure you purchase a vehicle brand that is reliable and do your homework, take it to a dealership whiting a day or two from the day of purchase to have a comprehensive inspection done using the grace period most reputable dealerships offer.
This guy is spot on! I agree with every single angle he posed. The problem I have when negotiating on these terms is that the dealership don't give a shit about me and simply refuses to negotiate once they know that I know the game. They're all about maximum profit and they know they'll get someone else to overpay so why bother with me
Ive done this, but also I have walked out of 3-4 dealerships. They're not the only dealership in town.
@@BM-xc9sq yup, you gotta be able to walk away, not everyone is gonna agree on a price
Yep, you walk.
They'll contact you...
@@FOH3663 My homeboy did just that once before. They came calling after about 5mins.
If no one is dealing with you, maybe you just don’t want a new vehicle.
Don't sit down, negotiate on your feet. If you see a 4 square find another dealer! Keep everything separate, negotiate the price, then your trade. Don't let them combine the two. Do your research ahead of time and know what price is fair for the car your purchasing and your trade. Get a instant quote form autotrader, carvna, etc. This way you're not really negotiating your asking if they can give you that price if not leave and keep shopping. Always talk out the door prices, nothing else matters! Last thing is make a 2 year decision mean one that you will be happy with in 2 years. Last last thing the dealer didn't screw you. You were not forced to sign the paper so you ultimate screwed yourself. Don't get screwed!
I've always hated buying cars. Literally get sick when I drive onto a lot.
@dennis wright But there is justification for spending more for what you want. Every individual person is willing to pay a different price for any single item that they want. This concept is subjective. When someone buys a car or "gets ripped off" they AGREE to the numbers they are buying the car at. That means they are OK with the price being paid. No one at any dealership is FORCING you to sign contracts at a certain price. You AGREE to sign them
@dennis wright You're just one of the people dumb enough to "be pressured" into making bad decisions. Dont let other people influence your moves. Do your research and come prepared. You're also one of the ones dumb enough to not realize that everything you buy is negotiable but you dont negotiate. You have no problem paying the price on a tag at a retail clothing store or at apple when you're buying your new phone. Trust me, as you said "YOU SPENT MORE FOR NO REASON"
I been sick for 3 days thinking of it. My car blew up. Lol. I can't eat , anxiety. I'm not doing it. Just get used hoppdy again..or dropping motor in mine.
Great advice and tips. I used this same breakdown to explain to a young man I know, that he’ll end up paying close to $40,000 for a 5 year old used Kia that he bought, by the time he finished paying for it. That’s highway robbery! I think the best approach is to deal with the lender/bank directly. Get pre-approved by the lender, find the car that fits in that budget and have the bank handle the transaction with the dealership. By all means, avoid trading your car. You will never get anywhere close to the value. Get the blue book value and sell it separately yourself
The sincerity in your face and voice man. Respect the knowledge 💯🙏🙌
This is right on! Looked at a car a few years ago. Kept my trade out of the picture. Got them to commit to the price. Brought in the trade and got them to say the number I wanted on that. They started to talk payments and I brought out a envelope of cash. It got mighty quiet mighty quickly…
You are the man!!!....Looking to buy 2 used acuras and will be definitely using this technique
Awe man. You are such a blessing I had this issue two months ago and I was turned down because they would not negotiate on my terms. The salesman asked me how did I know so much about cars I told them my father was a sales man, which is true. He went to discuss some things with his manager and they ended up turning me down be becauseI wanted to negotiate, and told me that I can't negotiate on the msrp but only on the monthly and down payment. I knew that was a lie and left feeling disappointed. But watching this video encouraged me and confirmed that I'd did not make the mistake of getting the wrong deal.
I've seen ppl say well ill take my biz elsewhere and then they're like wait..perhaps we can work something out..never leave disappointed or your head down..there are other dealerships that WILL sell you a car.
@@erichardson8811 and that’s exactly what you’ll have to do. If they have the car you, want, buy it. You don’t always have to negotiate a car deal.
@@TheFreelanceCowboy or just be patient and find it elsewhere. Impatient ppl lose money.
Keep looking, someone is going to need to meet their quota that week, that month, keep fishing, make it a game! When you walk out tell them they lost your business and you will buy a car, but not from here. Also you will never recommend others and tell them to stay clear.
This won’t work during this shortage , especially on a new car. Wait until Christmas - tax season 2023
The biggest advantage to a buyer is having the availability to walk away.
That's right, walk away, out the door. Tell them, "call me when you've figured a better deal on this car!!" They'll call you guaranteed, with lower monthly!!
Yea but lower monthly doesnt always translate to a better deal. I always look at the out the door number.
Biggest advantage is to not walk in to begin with if you’re not prepared to purchase a car!
Walking away after getting jumped is still getting beat on.
@EDDIET G_09 you won’t get a good deal if you’re not prepared for a car purchase/finance. That includes credit score, trade-in, money down, payment history, banks interest rate.... the deal is the icing on top. Don’t get comfortable screwing yourself in debt. Makes no sense.
@@ashrick718 Yea i think you’re talking about another point to what the original comment was trying to say. Obviously you would want to be prepared if you are wanting to buy a car but it also takes a couple of visits when negotiating with a dealer to bring the price down which is why you walk away from something that doesn’t work for you
This video is so valuable right now with this chip shortage and high demand for new/used vehicles. I went to a dealership this past weekend with this concept in mind and quickly realized they were trying to sell me a car 10k higher than listed MSRP due to the market. I guess that particular dealership had a long amount of inventory vs. waiting like potentially months for a new car. They tried to get me to put up more of a down payment but I refused. Definitely would have fell for it if I hadn’t watch this video.
I like how personal this video feels. It feels 1-on-1.
I'm glad this is helping people out, but at the same time, it blows my mind that their strategy needs to be explained like this to people.
When I was in the military. I noticed a huge trend of some of my friends buying their new vehicles online and it would get shipped and everything from the manufacturer and they would just have to pick it up. The price on it was a good deal too and seemed a ton more cheaper than buying from a dealership.
I came in with no knowledge and left with some. Love these kind of vids.
If you can finance through a third party, you can generally work out what your car would be worth on a trade in, the best payment, what you can get loaned, and a lower interest rate. Get them in the position with the car, and then tell them how you'll pay. If you walk in with cash, they want every buck of that and they won't budge.
I suggest credit unions.
This is why I always get a pre-approved loan from my credit union then go look a a vehicle I want. and I don't tell them how much I was pre-approved for until the deal is about done. normally tell them less than what it actually is.
As a ex car salesman, you should never buy a used car from a dealership anything older than 3 years past the current year. You're asking to get ripped off.
Its where they make most of their money.
Hey do you get the most incentives on a new car?
🤣🤣
I bought a used land cruiser 158,000 miles at $25,000 no rust, 58 elective servicings, best car I ever bought bar none. Never use dealer financing
@@MadMaxMFP-dc6kw 25k for a car with 158k miles? huh
I tried this and it almost worked out. I held my ground with the research that I did and I was right. They wouldn’t budge, so I bluffed and walked away. I thought they would stop me in the parking lot but they didn’t. I went back inside to try and negotiate and they told me they were selling the car to someone else. I had been looking for this kind of car for awhile and the payment wasn’t bad. I lost it. I found another one just like it and the payment was higher and it doesn’t seem to drive the same. I should have took the first deal…. This video did not help me! It hurt me!
WALK-OUT of the dealership they hate to see you do that 🏃🏼♀️
LOL yes they do. I'm not sure if the technique is to walk out completely but I know you make a ridicules offer before you leave forever. Also looking up cars online and saying " hey dad look the same care is selling for ______"
@@wolu9456 I walked out after they tried to jerk me around on my car and they called / text me everyday. Then eventually after I told them I was looking elsewhere they magically had exactly what I was looking for at the price I wanted. So yeah it works.
🤣🤣
@@devantetoppin7879 The same technique you used against the car dealership is the same technique I use against women(I'm in a relationship with), and it works on them as well(in the same exact way). I mean car dealerships, and women will compromise when you're taking your business else where. But you got to show them with authority you mean business.
kobie camp my man
When I bought my first car it was the worse experience of my life. I knew I was getting ripped off but I did not know what I was doing. This was a great breakdown of the video.
I qualified for 0% and the salesman tried selling me on deal with a different bank for 6.9% until I asked if my credit wasn't approved for the 0%. all of a sudden he acted surprised and said yes but was trying to get me the better monthly payment. you have to stay alert for sure
Keep in mind, a lot of times you give up rebate money for the 0%. If you are going to keep the car forever 0% may be best for you. If you typically switch out of cars within 3-5 years, take the rebates and X% rate.
So what happens, is usually the 0% down is for a certain lender and make/model of car, in GM's case they were offering the Trax at 0% APR for QUALIFIED BUYERS**** which means you would have to have a certain amount down, be well qualified (usually 760+ Credit) and that you finance with that lender, there's various other factors as well. but these are the most common
Maybe you're a payment buyer and thought u had no loochie lol
Never tell them how much you want monthly, use auto loan calculator. It will already tell you all this info. Car salesman will go out of business in the next 10 years.
The interest rate typically has nothing to do with the sales man, that's F&I'S job...but every dealer is different
I always start at the MSRP then negotiate period.
I worked for a dealership for two years and hated the predatory practices so much I left. He's right. But you are better off going in pre-approved with a check from your bank. in the back room these guys take pride in ripping you off. The most profitable salesmen or women can read your emotions and used that to their advantage. Be nice, but it's business and they are not your friends.
Do your own deal and make them an out the door offer prepared before you go, have your own financing and dont use theirs, know your credit and whats on it, fix it before making a major purchase like a car and never let the dealer know more about your credit than you do..they dont have magic banks to get you approved. Be ready to walk away instantly. Dont let them hold your license to test drive, that keeps you there...theres so many tricks they pull
Agreed!and you will have title in hand which makes selling it easier
Also, you have to be willing to walk away with the trade in. They wouldn't offer my wife more than $500 for our old subaru. We sold it for $2000 to someone on craigslist who knew how to fix it.
Great job
For me the best I have succeeded in forex trading is by trading with a good account manager, I've been able to grow my account to $20,000 within a month under the guidance of a good account manager.
Off the Hook! The timing is perfect. My daughter is looking to purchase a used car. I was just trying to explain some tactics-during the process. I'm here scrolling- see your page. While I'm watching you explain, I'm smiling in agreement, and I feel like fam is schooling. I clearly remember being duped, and knowing the concentration was only on the monthly payments. I can appreciate sharing your vid. I will hit that subscribe and click that bell. Thank you!
Dude literally just exposed the industry. What a king
People have been "exposing" them forever, it's just that most people don't use their phones for research most of the time, too busy scrolling their FB news feeds and getting dumber.
@ no one is king but the One and Only True God. Showing who He is through Christ who Himself is God
I’ll still crack y’all up if you step into my dealership 😂😂😂
Kang**
Lol its just how making a profit works. Wait till you see how much it cost to make an iPhone vs the price they are selling it to you. Automobiles and dealerships actually have the smallest profit margins
I had my own credit union when I walked in the dealership. I knew the value of my trade already and I talked them out of paying for extra accessories on the vehicle. They stood firm on the price of the vehicle which was lower priced than other dealers. So the price of the car was good with me. My interest rate was 2.8%. It was hard for them to play this game with us because we already knew the game. When the salesman realized we weren't stupid, it didn't take us long to purchase my vehicle. Knowledge is definitely the key to purchasing anything.
I was looking to get a new car and this idea had my angel numbers on it. The universe blesses you many ways.
Great video, excellent advice. One thing I’ll add is that it’s important to never seem desperate or overly eager to purchase a new vehicle. The more prepared you are to walk away if the deal isn’t to your liking, the more they will be willing to negotiate better terms.
I can say from experience that this is good advice. I went to a dealer to buy an 11 year old Ford Ranger and told the sales guy “I’ve wanted a Ranger like this for 20 years.”
I’ll spare the details but I ended up paying about $26,000 for a truck that had a $17k sticker on the lot.
I learned many lessons from this experience.
Tell him you looked at the same car at another dealer that gave you a better price.
@@thomastramontano3570 I did that but in my case it was actually true. That’s how I got a great deal. This isn’t something you want to fabricate though, because a lot of dealers can see competing inventory or they’ll ask you for the listing.
The worst I have ever been treated was by the finance department of a major dealership when I was held hostage after agreeing on price and signed the most paperwork with the salesman. I didn't want to finance through the dealership but rather our family owned hometown bank but I first had to listen to the "offer". They literally held me hostage and the finance guy got hostile with me when I held my ground. I got a good car but looking back I should have walked out. My bro has worked at major dealerships and he has since told me they make more money on the financing than they do on the vehicle.
Know when it is time to walk out and not buy from them.
Yup the finance guys are crooks. Everything happens so fast and they say sign here next to the X and you keep signing and then you find out that you bought add ons you didnt even know about and the financing is not what you thought. But its too late as every document you sign is basically ironclad against you because when you signed it, you read it and understood it and this is the law and parole evidence, IE testimony is not allowed to vary it. Everyone can get snowed. And the worst are time share salesmen and others like solar panel salesmen and really all salesmen. Sheesh. And I am an attorney and even I get snowed. No one takes the time to read what they sign. At their peril.
Super common to have pushy finance manager and its always best to just say no to everything. People who got suckered will try to defend their add-ons, but they are all trash. You dont need extended warranty, dealer undercoating, or GAP, and if you think you need GAP then your loan structure is crap because youre likely purchasing a vehicle you cant afford. Just say no to all their BS and let them be pissy about it.
I had these things in mind but the way you laid it out it GOLD for us consumers. I appreciate the information and want to thank you for taking your time to educate me on my next vehicle purchase. 😊
I’ve put these tips to use several times........I recommend anyone to use Rodney’s techniques when purchasing a vehicle.........spot on!
Thx Rodney!
I have sold cars for 14 years in Los Angeles and this man is 90% CORRECT. What I would do is (1) Sell my trade in car separately somewhere else. Preferably post it online. If the Dealership offers you $3000, that means you can get $4500-$5000 easy outside. (2) shop around the car you like and see where you can get the best deal. DON'T GIVE THE DEALERSHIP TOO MUCH INFORMATION ON WHAT YOU ARE THINKING OR PLANNING. (3) Get your own financing pre approved somewhere else. (4) Now, Deal with the Dealership AND after you make the deal, BUST out your own financing. 🏅🏅🏅🏅🏅
Exactly what I'm gone do.
Stay away from dealerships right now. They have the upper hand. They even sound like they are doing you a favor by selling to you. I do not mind waiting a year or two to buy a new car.
I’m thinking I have to wait….. I have 3 children and want a bigger car but it’s seems crazy expensive.
If you're waiting for prices to go down you'll never have a car 😆
Can i borrow you to go to the dealership with me lol.
Perfect teacher too.Got me watching your videos listening closely like we bout to have a quiz after 🤦🏾♀️
Right just come with me and sit there And nod your yes n no😂😂
This info is spot on. It sounded silly at the time but a few years ago I wanted to buy a new car and literally searched on RUclips “how to buy a car”. The same info was consistent. Bargain for the price of the car, don’t ever try to bargain the payment because they will put you in something you’re willing to pay for but it won’t be the car you want. #2 most important thing I learned is to extend your shopping area to 100+ miles away if need to. My last 2 cars I bought for $4k-5k less for cars that were about 2 hours away from my house. I used CarGurus. All my local dealerships would not budge on the MSRP like this guy is talking about.
They don’t even show you the price anymore you might even buy the car thinking about the numbers you saw on the window sticker but what you don’t see it’s the mark-up that’s why payments are so high and u can’t even understand why why a 60k car payment it’s $1400 well 60k it’s what u saw on the window sticker but they are putting another 10k 15k 20k on top of those numbers sometimes even more,this has been crazy for a while now
This is so true. My dad taught this to me when I bought my first car (20s). Don't discuss monthly up front. Work on price of the car first. Be approved when you walk in
I am blessed to have my family that helped me purchase my first car. they worked the price down. etc.
This is why you ask them for an itemized list and if they refuse walk away. This 4 square method of negotiation is the biggest ripoff
@@hgonz14 whats that?
@@Mr.Kan360 what he used on the video the 4 square is what he did on the board. Dealers sometimes do this on a piece of paper when they do this they will hide thr total cost and play around with thr monthly payment as he explained. If you see Chevy dudes videos he shows you what the dealer should show you which is an itemized list as opposed to this 4 square garbage.
@@hgonz14 oh ok. Makes sense. Guess im going to ask that walking in to the place.
My pops always told me similar advice growing up, glad someone is out here sharing
What was his advice
Some good advice is, if you have a credit union at your job, finance the car through them. More than likely you will get a lot better interest rate!
Great tip!
That's what I did
The same thing me and hubs did.. Got. 2015 infinity SUV for 10k and I told them what I had with check in hand.. Wasn’t going to get me..
Keep exposing the fools that try to make us look like a fool and we’re not fools we tryna cop a whip that’s all but the system is garbage and you are exposing it and I salute you
Aye man this really just saved me from messing up a lot
I'm a sub for life fam.
I got burned trying to please my wife and got caught lacking.
Nothing I can do about it now but now she's watching this video and sees the game! Salute!
I used to sell cars. This man is giving you some very valuable knowledge here. Listen and learn people.
Dude you really woke me up to the games dealers play. Thank you for helping the hard working folks.
As a veteran car salesman. I think transparency is key. Be clear with customers, honest and upfront. Don't be pushy and offer decent deals that make sense for both the customer and for the dealership. This way everyone is happy
I agree 100%. I’m thankful to work with a great team that allows me to do just that...Because of this I can honestly say I enjoy my job. I worked at another dealership where there wasn’t much transparency and it just made it stressful for customers and for myself; even when I got home from work I felt stressed out.
Years a go my uncle was the general manager of a large ford dealership in Redondo Beach, CA. He was very successful making an enormous salary. He was an honest person but disappointed in the quality of the salesmen. I remember he said that if the salesmen worked as hard being honest in their practices they would make more money than being dishonest.
Transparency lol then all used lots should have their prices on the cars!!!
Car dealers are sharks
I fucks wit this response
Hey Rodney... GREAT VIDEO!!!
The video was simple enough for even a Dummy like me to understand. It was Educational and Informative.
Don't stop making these videos. We all need someone like you to keep us from being victims of the car selling sharks. And yes, I was one of those victims.
Read every page of the contract. They hide all kinds of garbage in there that you don't need.
Not to mention straight up lie to you. You know how many times I've gone and they tell me 1.9% and there's even a flyer on the building advertising 1.9... Your credit gets approved for that rate yet the contract comes back saying 4.5% and they expect you to sign that nonsense
Excellent job explaining the four square. The greatest weapon a consumer has is the ability to walk away. It takes courage, but if something isn't right when working the deal, actually walking to the door is so much better than staying in the seat. Second, if the dealer pulls out a 4 square form, that's when I walk. There is an honest and transparent way to buy and sell cars, and the 4 square is designed to profit only the house. Walk away from the 4 square deal
That was some excellent information. I'm going to the dealership this afternoon armed thanks to you!
@@maumbu 😆
Yes, how did it turn out?
@@Akashpagol turned out pretty good. Most of what he said don't do were all the things that I did do. Mostly in part trying to be transparent and get the deal done as quick as possible. Not mentioning the trade till the end really helped
@@tracystjohn1957 You should always point out every flaw you see on the car and under it. The tires being not new. Always ask for a car-fax report. Ask for records on maintenance done (how often was the oil changed? Do you have any records on that).
You could go on and on. but there is always a dance after that. If you can get the manager to change his color to beat red you've done well.
Get a bid on your car from carmax, Carvanna and other dealers and when they try to low ball you you can pull these bids from other dealers.
Yeah carmax sells there cars above book also so that’s why they offer more for trades.
That was very informative my brother thanks for the information
yup exactly just got a bid for 06 bmw x5 4.4i V8 they offered me 6.5k the highest kbb value has it for $7,400 i paid for 4k for it good deal i'd say.
Definitely agree. I traded my car in with carvana and they gave me more trade in credit than I payed for the car. Carvana will also buy your car even if you don't buy one from them. It's an easy process so I highly recommend them.
@@NotEyeman heck yeah I sold them my car and they gave me $4k more Than kbb true value. Got me out of car payments with a $4k profit. Gotta give props to carvana for that
Let's get this guy some subscribers!!! Thanks for the insight it really means a lot to those of us that don't have a complete grasp of our finances.
If your a monthly payment buyer than your already doing bad. Buy a car cash for 4-5k then keep it and save up to the cost of the car. At that point if you save up, say $25,000 you’re less likely to buy that with the hard-working money that you just made. You will learn to be smarter.
I knew most of the info he shared but I wish he would've have some pointers on talking the sales person down on the price..😒 Like what worked for him when he was a selling cars..
Agreed.
Most dealers now have a no haggle price but if you go to dealership where you can negotiate the price. Do your research online and see how much that particular vehicle (year/model/mileage) is going for. If you think they are over pricing it by 2k, then tell them how much you are willing to pay for that car (of course you offer needs to be reasonable). If they don't wanna sell, then go elsewhere. You have to take charge. You are the customer.....when if comes to financing. I usually go to credit union or local bank to get a pre approval from them. Because dealers can bump that apr up to 2% more than what the bank offered.
@@jonathanartiga5320 That is the best way to buy a car coming from a car salesman
Bruh gave some excellent advice. Definitely everyone needs to see this and study it before you go into the stealership to buy a car. Especially about the trade in being the last part of the deal to put together. Then if you can't get what you want you can always kill the deal and walk away. Never ever be afraid or unwilling to walk away and go to another two or three or even four dealers. Find out where you'll get the most for your money and where the best deals are. Don't get pressured into a deal that you don't want and are not 100% happy with.
Sell your own car before going in & use that as the down payment!👍
I just bought my first car from a dealer. He did the same things. But I was far more concerned about the final price like you said. I managed to get the price down 20%. It took the initial monthly payments from 350, down to 250. Then after I told them I didn't want any of the bells and whistles and warranties it brought it down to 170 a month with a 9.2 interest rate. I like to think I did a decent job for my first time.
Damn man good job on you.
What’s your credit lookin like
Since it’s only been 3 months, I’m gonna recommend you refinance that brother. You can get a much better interest rate.
Man this video is, straight up, one of the best guides I've seen on YT. Super helpful man!
i appreciate that!!
Thank you for the video! I have had a passion for credit repair for a long time and I’ve helped a couple of people. I’ve even thought about starting my own business. Listening to you and seeing your passion has lit a 🔥 in me and learning from and using *850 financial assessment* . I have watched this video a few times just as motivation. I call it my “Victory Lap” video because you are spreading Nips message by following it! Thank you and keep pushing! Proud of you!
Hi can you help me with my credit score?
Thank you for this valuable information I'm young and I have found some older people would rather judge and talk about the youth.. but having someone care enough to break it down like this .......🙌 I learned so much and have experienced this.. but never again!! Thank you so much!
Very cool ❤ This helps so much!
Your best option is to walk into the dealership with a preapproved loan from your local credit union (You're still doing business with a national bank? Switch to a local credit union!) This way you don't have to worry about them tacking on those percentages.
Try a "Credit Union" here in Seattle WA, they Have the WORST Customer Service in the USA.
Damn I should had watched this before I bought my car. Fuck
Same here. 😔😔😔
What happened lol
Well if your interest rate it high, at least try to refinance with another bank. Your credit gets hit at the time they do a hard pull. If you just bought your car within the last 30 days, now is time to shop banks for a better rate.
Right
@@TheeMrsChampion
And pay it off faster.
Great video man, over the pass 3 months i think I’ve been to like 6 dealerships and I I’m just gonna go with Carvana. Every dealership seems to running their own game and I just want the car that I want
I think I'm gonna go through Carvana as well.
Carvana has such a high interest rate
@@notallowed337 If you want to pay too much for a car, go ahead and buy from them. The price is the price, period.
This guy has figured it out, Props to you Rodney! I’ll be using your method in the next few months when I’m buying a used vehicle. Thank you for the info. I sold cars a few years ago, and didn’t even know this. (Maybe because I was new to the trade, or because I’m gullible)