I don't even understand what it means to get 0% interest on a loan? Or is it a car? I feel so dumb. But I really was just never taught, and when trying to look for the answers online. It is still confusing to me. But, I blame my irrational and emotional brain for this. I am trying to learn new things little by little every day. :3
The honest guy is from Yorkdale Dufferin Mazda. He is the pre-owned sales manager! His name is Ali. I purchased a car from him. Great guy! Thumbs up for him!
borae77 dealers make more on used cars than new!!! You don’t know what they own used cars for but you can a simple google search to find out on a new one.
@@JoseFernandez-wu8pj Mercedes E-class, BMW 3-series, VW golf and beetle, good saabs, any rear wheel drive volvo, and these are just the ones off the top of my head. Also a lot of Hondas tend to have transmission issues, and Toyota is still in the stoneage when it comes to technology. Idk why people think because one car is reliable or unreliable, or if you buy an abused used car that it represents the quality of the whole brand.
He may not necessarily get fired. Sales people are paid to sell. As long as they do that, mangement is happy. If he is honest and can still sell, they won't fire him.
My school had an economics class that we are required to take before graduating and they taught us everything from buying a house or car and even starting a small business, I was surprised to find out that not all schools did this
Brandon h normally you wouldn’t have too, Hyundai’s are cheap and cheerful cars, but the fact that the negative equity from her previous car was added to the current car made her payments close to something to the equivalent of a luxury compact or a midsize moderately specked family car.
Her alternative at this point is reposession, or selling the car and making up the deficiency in the note somehow. Maybe the latter isn't an option and the former is unpalatable. She might be able to get out of the deal through the state regulatory authority or hire an attorney. I agreed to a really bad car deal when I was her age, contract was invalid and the AG office in my state got them to unwind the deal.
Here's a tip: buy used cars instead. Cars that are 2 to 3 years old and have relatively low mileage will be worth so much cheaper than if they were new and you'd still be able to get much of the car's true value.
Maybe 15-20 years ago. Have you seen used car prices lately, not to mention the rock-bottom interest rates on new cars? I just traded in a 2018 with 60k miles and 3 years of 5 kids' spills for more than I paid for it. I got into a 2022 for about what I still owed on the old car, with a better interest rate.
@@corsairsofnarshaddaa A couple years ago I was shopping around for a used car and most I thought weren't worth the price so I kept looking. Found a couple but were sold unfortunately. Decided to hold off and wait for a better deal then the pandemic hit. Wishing I just scooped one up. I'm gonna keep holding out until it's not ridiculous.
@@corsairsofnarshaddaa Stop taking everything on debt that's it's own problem, and paying 5000, 10000+ more on it. You know you're going to need a car in X time roughly. Just buy the damn thing. But that doesn't really say anything without the car types and options. You can still get decent cars from great brands for 3, 5, 10 grand (older than 2-3 years though) whereas the new one would cost you 30-60k easy. Especially at 24 working 2 jobs around min wage, paying 400$ a month? That's insane. That should be your rent with a roommate, not your car payment.
The Mazda guy at 9:20 just made the best pubblicity to his company while still being honest and helping the costumer. Props to people who really have a working strategy. Just look at the comments here.
I’m not even Canadian and I love CBC Marletplace. Such a fantastic consumer advocacy programme and it’s taught me questions to ask and tricks to watch out for in my own consumer market
I think understanding BOTH is important. Yea the final price is important, but so are the monthly payments. Can you afford to buy the car in 3 years or do you need lower payments at 4 years to leave room for cost of maintenence. Also I think people need to stop this obsession with buying brand new cars, buy used for 15k or less. You'll have much lower payments plus depending on the year some are still covered under warranty.
Pinoy Car Loans Canada Not everyone, but in businesses, people can get caught up in trying to get money, cause that how people are. It’s not a phenomena in the car industry, but in others, too
My friend was trying to buy used car cash and her budget $9000 or below but the guy told us "we prefer finance over the cash" holy red flag we run away. The story happened in Edmonton 😂
After 2 years of working in car sales, you can’t help but to feel bad for the industry. I get it, people need money in their pockets. But till I got into the industry, I never met real terrible people in my life. I soon realize that almost everyone is a genuinely bad person in that industry. You wouldn’t believe the type of pressure and sleeziness these people had under their sleeves. After how it affected me mentally and emotionally, even physically, I am glad to say I am out of the industry for good. To all the people who need a car and wants to buy one, here’s my advice: please think. Don’t buy on impulse. Always negotiate price first. But be respectful, there are still good sales people out there (like shown in this video). Hopefully you found some use for some of this, I never comment but I felt like I was compelled to.
Totally agree with you man. I used to work in the industry as well, on the parts+service side and the amount of sleeze I encountered is UNREAL in the industry. Not everyone is sleeze though, and I did make a few friends in sales during my tenure at the dealerships and when I buy, I will typically go through them.
Love this. I am from India, having worked in automotive sales for 23 years. I have worked in India and the Middle East. Lost my job for being honest to a customer. The customer came to exchange his old car (which was on finance), I advised him not to sell off the car as the new car instalment shall be a huge financial hit on his salary. Unfortunately the customer was a mystery buyer, the incident got reported to my management and I was sacked!!! So much for being honest!!
Honestly you deserve a better company that represents who you are as a person loyal to your conscious and an amazing honest human being! I’m sorry you lost your job but I truly feel you deserve better, people now in days aren’t truly caring for someone else’s budget more than a bonus for a sale YOU deserve serious recognition!
Bought my very first car at 21 at my local Mazda dealership and they basically told me the same as the Mazda sales associate in the video. Recommended a 4 year loan but I ended up settling on 5 instead. Surprisingly was a good experience for my first time buying, they were honest and genuinely wanted the best for me.
Why buy a brand new car for your first one? You can buy a reliable Honda or Toyota for a couple grand. Pay for it with cash upfront and then save money for the future. Done.
Squidward's House true, also new cars are expensive and depreciate quickly, also the warranty can be an issue if you do even the slightest of mods like a new oil filter if you don’t read the warranty’s terms closely.
James Wilson $300/month x 84 months due to the $17k of neg equity, making the actual cost of that car $50k. This woman is just a fool who parted with her money.
What does being Hyundai have anything to do with it? I know someone who paid $600 a month for 7 years for a Nissan Rogue. All the dealerships do the same if they can hook someone to take the bait. And how about the other car manufacturers. GM and Chrysler aren't exactly at the top of the dependability chart. Land rover and Jaguar are the worst with regards to reliability. Honda has had electrical and transmission issues and has dropped to the middle of the pack. Toyotas are overpriced, made in the Americas or Mexico and their interior fit and finish is horrible. For example, look at the Toyota 4runner. Big on the outside. Tiny on the inside. Too much plastic, outdated 90ish interior and I'm only 6 feet tall and I feel cramped. There isn't even basic comfort and luxury. Toyota are not only cheapskates. Their living off their past glory. And it's not the brand but the model. Hyundai Tucson is rated high in reliability. So is the Hyundai i20 in Europe. And the best bang for the buck Elantra. You're living in the 90's kid. Things have changed a lot since then.
I'm so fortunate to have my dad. He bought the car and paid in full and I agreed to pay him back in smaller payments. In the long run much much cheaper
Everybody saying she shouldn't have bought a Hyundai like a Honda would have solved her problems lmao What she shouldn't have done was buy a brand-new $30,000 car on an hourly cashier's income.
@@heidernheinreich4827 just get a manual transmission Honda. Their CVT is garbage, but motor is still decent. Most CVTs are a failure waiting to happen.
Heartbreaking to see this happen to her 50k for a Hyundai. I say repo that junk save enough money to buy a used cheap vehicle to move around. Wasting her youth killing herself working two jobs. you can see the stress in her face.
My family always taught me, if you can’t buy something in cash, you can’t afford it. Of course the house is the exception because it appreciates in value. Cars don’t. I plan to buy my first car, $23,000 in cash in the Spring so I never have to worry about interest or monthly payments.
I very much agree with You. However wouldn't it be better to buy a used car for cheaper? Since it would be your first car. Other reasons too for example You would have the money for fuel for quite a while. But You do You. Good luck.
@@matiissmc8987 that's what I did. I've owned a total of 4 cars outright my whole life. If I want a new car I save, sell my old one, and by another one out right. I don't plan to buy a brand new dealership car till I comfortably pay it off within a year or 2. When I'm able to do that my credit will look amazing and I'll have no problem buying a house. But still the thought of driving a car I dont completely own is terrifying lolol.
@@matiissmc8987 that is a good point. I have looked at some good used cars for half that price. If I plan to keep it for ten years, a new one is tempting but the price of 2018 sedan I’m looking at it is about 12,000 and that definitely looks good. Haha. I can wait a bit longer to get a car now that they extended our remote work until September. I got some time to think about it more.
@Brad if you want to make some money buying your car in cash, do this instead, trust me. If you're able to pay it in cash, OR 0% financing for 5yrs, do the 0% financing, and Then just invest the rest at an avg of 8%, that you would have spend into the car 👌
I want to thank this young woman for coming forward at the risk of some embarrassment I am sure, to tell others the mistake and problems she has had. It is so nice to see her try and help others avoid the pitfalls that she fell into. Thank you so much.
I bought my first car cash $4,000 Now 5 years later i have enough save to buy the actual one I wanted I saved 30k in the bank that is enough to buy a new car straight out
punker4Real buy cheap beaten houses 🏠 🏡 Fix then up sell them for more or put them up for rent. Best investments with less than 70,000 cash invested you can double your money maybe even triple.
Normally it’s not smart to liquidate that much money into a depreciating asset like a new car. Drive it off the lot and you’ve already lost a hefty amount of 💰.
Buy used cars for cheap and drive them until the repair cost more then you paid for the car. Or Buy a new car and sell it around 80.000 km. Within 3 years. You only have to pay the minus each 3 years
How do I buy a vehicle without getting screwed? 1) I shop with the attitude I could care less if I buy a vehicle. I have every intention of leaving the dealership without a vehicle. Take a smart friend along if you need to thy are your excuse for not having time to spend on the sales lot. 2) Know who’s house you’re in and don’t go all the way on the first date. Stay out of the show room that’s their house. The office is the bedroom, and bedrooms are meant for two things. Sleeping and Screwing. 3) Study and review the paperwork. If you’re comfortable with the sale take the paperwork home and look it over with another person. If you’re not legal or financially savvy take it to an attorney and an accountant. It might cost you a hundred bucks but it will save you allot more later.
Bob Is The Builder one more piece of advice....before you make a great comment, learn how to spell ‘a lot’ correctly so people take your comment to heart. 💜
I'm glad I saw this. I'm currently shopping for a new vehicle and many dealerships (even my own bank) are strongly pushing 8 year loans. I already knew that was a bad idea and I wasn't going to do it, the interest rates on an 8 year loan are outrageous. My bank offered me 30,000 with monthly payments of $540 over 8 years meaning I would be paying 51,000 for a 30,000 loan. No way in hell will I ever agree to such terms.
I have advice for people. Especially those who are young with more time than money. The honest truth is, if you are somewhat technically inclined, you can save so much money by being knowledgable about cars and repairs. I grew up in Phoenix, AZ. There, I can find a reliable vehicle for $3k every day; Usually less. Just learn what to look for, be a brand snob (Toyota, Honda, etc.), know the basics of car evaluation, research the common issues of a specifc vehicle before you inspect, and don't be afraid to spend the buyer's time on evaluation (If you have the cash, they will wait). I'm not saying everyone is capable of this, but a good majority of people are. If understanding the basics of vehicles is just of no interest to you, think about your interest in having money, and use that to be disciplined and research. If it's possible, live close to work so that you can take a bicycle or electric scooter to work in case you need to do a multi-day part order/repair. Factor that metric into your pay. Second, learn how to inspect a vehicle. At the very least, buy a $10 obd2, bluetooth, diagnostic port error code reader (For vehicles 1996 or newer in the U.S.) and pay $5 for the Torque app. Being disciplined with your time will save you so much money. Already have a basic set of tools (elm reader, sockets, ratchet, extensions, channel locks, wrenches, plyers, funnel, and a cheap multimeter). Amazon and RUclips are great resources that earlier generations didn't have.
I bought a 95 chevy k1500 for 1200 had it going on year 5 almost 400k kilometers and runs like a top. The key is maintance and learning to turn a wrench. I went overboard with the knowledge of my truck but i love it. Also brand snob. Old chevy trucks run a long time
@@jobdoneright5934 You can easily find something reliable for $3k. Some examples include older Civics and Corollas, 4 cylinder Ford Ranger, basic stuff like that. Stay away from the dealership, and be patient on Craigslist. I found my car for $1500 and it runs perfectly. You don't need touch screens or heated seats.
Years ago I didn't realize how much I really paid for my car until I looked at the paper work. I was so angry at myself for paying 17% interest. I was 21 years old and went alone. No research, no knowledge of the vehicles I was looking at, and no clue how slick the saleslady was. She pretended to be my friend as a woman. I was a deer thrown to a slaughter.
@@ferniesz nah that’s really high even for first time buyers. I got my first brand new car, never finance anything in my life and got approved for 1.9%. Salespeople believe it or not will try to do anything to make you buy that day and hassle you until you sign it on the dotted line. So you need to play along and also hassle them as well.
@@crystalkadletc1944 Paying a loan in more frequent payments can reduce the overall interest you pay. It doesn't matter how frequent the payments are, it just gets paid from the monthly budget anyway. If the frequency of the payments of the car is something that you have to consider or bothers you, you can't afford to finance a car.
I think the point of the article is they trick you into thinking you are living within your means (seven year loan), but you aren't. I'm looking at a $12,000 2015 used, but my 2010 Corolla still has life in it.
So is there no such thing as manufacturer warranty on a vehicle purchased in Canada. She only owned the car for 3 months and it started breaking down you couldn't afford to fix it so you traded it off for another car. all the issues with that cars should have been covered under a manufacturer's warranty and she should have never had to traded it off for a different vehicle.
YES! THANK YOU. She got manipulated by a dealership who took advantage of her vulnerability as a single mother. Even the CBC should have pointed out the warranty issue: She would have run into the same issue if she had loaned on a 48 month term
*i dont get why people dont understand that if you trade in your car with payment left on that you still have to continue to pay for it if you do decide to trade in for a new one. whats hard to understand that? its common sense omg!!!*
I love how calm and composed Chantelle is and does not let stress and worry get to her. I wish they asked her how she could be like that, so calm and cool.
You can only stay in panic mode for so long. Then you get used to stuff and it's just an unpleasant part of your life. I'm sure she's had quite a while to get used to it.
They did ask her how she was so calm about the debt, and she said that she had just accepted it, she wasn't going to get out of it, and she had to pay it.
@@mattcrandall5045 So acceptance, and just coming to terms with it, instead of being bitter, resentful, angry, worrying and stressing yourself to poor health. Thank you Matt for pointing that out. So, that, acceptance, is one of the ways that people stay calm and cool through the upsets of life, I guess.
@@rsrs6959 yeah she just accepted that the debt would be there. You can tell it definitely bothers her, but she isn't letting it consume or overwhelm her.
@@mattcrandall5045 For some people when unpleasant things happen in life then that "consumes and overwhelms them." but then there are others, that sail smoothly through life. I really admire that quality off her, that "she isn't letting it consume or overwhelm her." I want to find out that apart from *acceptance* , *what other thoughts, attitudes, and what other things help one not be consumed and feel overwhelmed by the lows, the unpleasantness, and the mishaps of life, and stay calm, cool and composed* .
When i bought my car from Honda they actually encouraged me to get a 4 year loan with only 0.99% APR. so i guess some dealerships are more honest than others
LOL....That actually puts more money in their pocket upfront, and it's good for you as well, it's a win win and it's a very normal thing for people with decent credit.
Same thing with my 2003 Honda Civic. My step dad had it forever and then sold it to me. Aside from routine servicing and issues associated with vandalism, there have been no major repairs needed to be done.
I have a 1973 Maverick that's been in my family since it came out grandpa to mother to me. Everyone in my immediate family learned to drive in it. The car had over 550k miles when we replaced the head gasket. We got in a wreck in it against a 2007 surburban, the suburban was totaled (unfortunately we owed them) but the Maverick was still intact just a damaged fender and bumper. 890k miles the cosmetic had seen better days, but the original engine is still going strong especially the tranny. If you can get a chance to buy a vintage car(50s-72 are the more reliable ones) at a attainable price, go for it. It's one of those cars that is relatively safe to buy at over 100k miles because they still have about 80% of it's life left. I will say one thing if you're a male under 21 years old, insurance will be expensive so try to get as much deductibles as possible like showing them that you're a college student.
Why is everyone acting like car dealerships are honest? They're trying to make a living, of course they're going to try and charge as much as possible. Bit of advice, have an old Asian man go in with you. My dad has gotten me the best deals haha.
Can I borrow your dad when I go to buy a car? My mom and I just got ripped off on a terrible car that sells for only $3000-$4000, but the dealership sold it to us for $7000. Even our insurance company said that it was expensive. Then I went home and searched it up on auto trader.. And yes.. It was indeed too expensive. This is the Ford Fiesta SE 2011. The gears make weird noises, doesn't heat up easily, and sometimes when I step on the breaks, it kinda rolls forward a bit. It basically has a ton of problems, and that's why it was so cheap... But we still got ripped off nonetheless.
@@tinydough8746 I'm sorry but the first problem is that you took your mom. Should've taken your father or a man who knows about cars. Men are generally less agreeable and could possibly get you a better deal.
ALWAYS ask what the OTD (Out the door) price is for the vehicle after taxes and mandatory fees. Once you ask that question they’ll know they aren’t dealing with a customer they can rip off. Most customers just ask what the payments are. And never finance for more than 60 months (5 years).
I dream of being able to pay cash for a new Challenger or Tacoma, but that would take a few of my years in the military before I could drop $30,000 on the table.
Well yes and no, I mean if you pay it cash you get rid of that payment and you are done, the car is yours. But if you can get a a very cheap interest rate "1.9-2.8" or something like that, you could use the cash that you would had used to pay it off in other investments that make you more than what you are paying on the interest. You would have freed your money to use it for something else that makes you more than you are paying.
@@donjuandinero you could put aside a percentage of that as a down payment like 5 to 10k and probably still walk out with a decent deal. Shop around for insurance too. I think that's another missed point is insurance is higher on new cars.
this is a video about people who dont have enough money to buy a car, financing cars that are excessive for them... the problem is not the dealers scamming innocents its the people who lack money trying to get a car that is much more nicer than they have means to easily pay for.
True. But people who have to commute to work often need a car. They could and should buy a used car and save up the cash to purchase that outright. But few do. So they get a crap high interest loan on a worthless used car, then are gunshy about used cars when they run into problems (which they do not have the technical ability or the money to fix). So it's trade in time... I'm not defending it. But for a significant portion of our population, saving up to pay cash for a car or a house or any other major purchase is either very difficult or impossible. And transit in many places is not a viable option for getting to and from work.
Love how the "Regulator" does not seem to do his job. It seems like you guys had to do it for him; he and his staff/team should be keeping an eye on things like this on a consistent basis. It must be nice to make that much money and not have to do what your job title includes, just act really surprised when you find out and say "we are absolutely going to look into this; this is ridiculous!!!!"
He certainly does his job like any Government employee. He waits for large companies like car manufacturers to approach him, and offer him a vacation in the Bahamas to lay off them.
When you pay by weekly instead of monthly then you double the risk of messing up and not being able to pay them and them taking your car way. Never except a weekly or by weekly payment deal. Always do a monthly deal.
@@TheMangoMovement No, It is better to agree to monthly payments. Then you still have the choice to pay more. I know this because I done it. I made an agreement to pay a c as r off in two years with a $500 intrest payment every six months. I paid it off in a year and a half and saved $500. If you work in the weather like I do and it snows for a week and you cant work then there goes your car after paying on it for a year. Weekly payments are a bad gamble!
Well...I only buy vehicles under $7500 and they last more than 5 years. I drive them until the wheels fall off. They can last 10 years even. Always a good deal. I am not afraid they will be scratched and I dont care about the road conditions damaging the car paint.
DJ........no.Its about different priorities. I would rather spend it on my home, children's education, going for nice meals or beautiful holidays in the Maldives. Grow up!
SCD4 just because you have a different lifestyle than him doesn’t mean your grown up and he’s not. Cars can be hobbies for people. Also everybody doesn’t have kids they need to educate or want to go to the Maldives, some would rather drive something nice 365 days than go on vacation for 7 days.
I simply informed every customers about the benefits and pitfalls to the best of my knowledge. Unfortunately, most customers are not appreciated, walked away and my boss told me that "you are talking too much." Let life taking care of them.
4 years ago i went about 18k (that was a crazy amount, for as young as i was) underwater on a dumb trade in i made. worst mistake ever. i regret it everyday. but i have been grinding everyday to pay it off, begging for overtime, working odd jobs. and even flipping cars i buy low and repair, you know, whatever it takes. if i keep at it i will have the title in my hands in 4 months. there is light at the end of the tunnel. keep focused and learn from your mistakes.
I'm re-watching this because I just had a Chevy dealership tell me that I needed to put down a $500 deposit for a "credit check". I kid you not. Of course, they told me that the deposit was fully refundable - not true.
People have the power of the internet yet they refuse to do basic research that could save them thousands of dollars and a lot of stress. I just don't get it.
I literally just commented nearly the same thing. This is the age of information, just freaking google it! Watch a youtube video or two please! Save thousands
I live in the United States. However, I find the advice/information in this video to be applicable to either the US or Canada when it comes to buying a car. Thank you for posting!
I used to own a Hyundai 20 years ago, and things always breakdown. Since then, I have steered away from Hyundai, but I've heard their reliability has improved a lot since then. So, I am surprised by this video, taken in 2017, that shows Hyundai still breaking down so fast and easily... I still stick with Toyota and Honda, if I want reliability and low maintenance cost.
I dealt with this also.. I got sold a $64.000 for a 2016 GMC truck on a 84 month payment plan at almost $1000 a month. The dealership still calls me to come in a trade my truck in even after I have only had it not even a year and a half. These guys don't care about you and have only one thing in mind is to line their pockets and mean while the buyer is struggling to make the payments and if you can't it gets repoed and all the money you payed into is gone. The world is harsh place with very unethical people there to take you down. The love of money is the route of all evil.
When I bought my first (and only) new truck they did the same thing to me (this was years ago and I refused to accept anything over a 4 year amortization, plus they were offering 0.9% financing for a very small up front fee). They called me every month from 24 months to about 32 months of the finance term. I finally told them that I would not be ready to trade "old paint" in until it's 20th birthday. They stopped calling. Two months from now, Old Paint will turn 20 years old. It still runs fine. The only thing I don't have is bluetooth or a nav system. I don't need either one.
LOL Cashiers today can't even calculate the correct change for a purchase without the aid of the register. But she still thought she was capable of negotiating a contract for such a major purchase as a car. She is "clueless"!
Yes..and then parked her brand new car in a grocery store parking lot full of old junk transient drivers and shopping carts just begging to dent scratch and crash into her car..buy an older car with 80 to 100000 kms for 4000 dollars cash only..nothing else and take it to a CAA approved shop and get it inspected!
Bought another new car, from the same company. She didn't even think "I should at least not buy another Hyundai". Though the most troubling thing really is the fact it should've been in warranty.
Don't "brand new Hyundai's" have warranties? I'm not understanding the reason to go in the hole for a different car, when the other one would be repaired under warranty. ????
Yeah I bought a car for 300 it took me a year to start driving it still beats a payment because the first year I had the car j didn't have a job I have a career now
Typical financial illiteracy. There’s no free lunch. The longer the loan the more you end up paying. Dealers/banks don’t do charity. Why doesn’t she do a little math?
hellowjp agreed, how could she look at $17,000 and not ask what that is for specifically and also that increases the total cost of the vehicle.. If something should cost let's say $20,000 and instead it shows as $37,000 wouldn't a person be like wtf??? She just signs it and then complains after. Like I said before, the dealers are sneaky, but we have to actually read our stuff and get things all in writing, cross the t's and dot the i's like they say.
Well if there’s a 7 year loan at 0% and you can pay as quick as you want and a 4 year loan at 3% why wouldn’t you take the 7 year loan and pay it off in 4 years. Save yourself the 3% interest
hellowjp You're the one who lacks financial litteracy. They're talking about 0% loans. The longer you can get the better. If you want to pay up faster, say 3 years, just divide the price of your car by 36 and substract your monthly car payment from that number. Throw the rest in a sinking fund that makes anything >0% interest and you're bassically making free money. Absolutely no reason whatsoever to take a shorter loan unless you have absolutely no self control with your money, which isn't the dealership's problem.
And that, my friend, is why millennials will only go where they're allowed to when their assigned "expert" says they can. And that, my friend is why millennials will be in borrowed everything, sharing a bunk bed with other millenials, free to do pretty much anything demanded or your life "comforts" can and will be refused until you comply. And that, my friend, is why us older and bitchier Americans are screaming bloody murder about how damn easy you're making it for the ultra rich and powerful who only have your lives to show their power because they can already buy anything they want 100 times over.
@@wlonsdale1 no they go to a car sale website, sort the prices from lowest to highest. Take in a few metrics that are important and don't look at second best.
I am not a friend of the dealership and I don't think they are anywhere near honest, but consumers must be held responsible somewhere. Should we protect them from all possible bad decisions they could make? The consumer needs to be educated as much as the saleman needs to be honest. People who aren't good with money should save up for a car before buying it.
Thanh Truong I agree but it's more about correcting deception/implementing full transparency. It's also about eliminating that pressure environment of making the decision on the spot. Some people are more vulnerable/prone than others, like elderly people for example. It's always best just to have set rules in place for transparency, it'll avoid problems in the future and protect certain types of people who are just susceptible to things like that just from their nature/personality.
"People who aren't good with money should save up for a car before buying it." People who aren't good with money usually cannot save or have nothing in savings to begin with.
Max I agree with everything you said. I am just saying we should be aware of other people ripping us off as well. Government oversight isn't always going to be there to protect us. When it's not there, we need to protect ourselves. In this particular case, the deception isn't all that complicated, we consumers should have seen right pass this. A car is a huge long term purchase, people should spent at least a day thinking about it.
Thanh Truong That's exactly it. It's not all salespeople's fault, nor is it all customer's fault. Since customer will be bound legally for the duration of the loan, it pays for customers to educate themselves.
Max then don't but a car. Public transit, taxi, and beg a friend for a ride. Better yet, get a bike. I've done all of that before I got my first 10 years old car.
Good job Mazda! I've been impressed with my Mazda dealership, they always tell me there's nothing to fix on my 2013 hatch every time i OCD and bring it in, even when I go in tripping about a whole new suspension, my service manager was just like LOL why, your suspension is fine, stop it. They're good guys, fantastic cars.
I was thinking the same thing. If it's covered under warranty, just drive the lemon to the dealership and get them to give you a loaner car while they repair it. Rinse and repeat. I don't understand how they sold her on getting a new one and taking $17,000 in losses. Unbelievable.
I payed cash for everything I own. Its a humble life but I'm grateful for everything I worked for. Not all of us get to be rich. But having no debt is rare for the working class nowadays.
OMVIC is a joke. I have personal experience dealing with them when a dealership was trying to screw me over. Good thing i had the sense to back out. Its sad that a lot of consumers spend minimal amounts of time researching online and then walk into a dealership thinking they're getting a good deal. Do as much research as possible, if you think you did enough - do some more the next day. Watch RUclips videos, read blogs, visit all sorts of websites and never ever make your feelings obvious about the car in front of the sales person - if they know you're falling in love with it, they got you.
Again, Motor Vehicle Industry Councils are NOT government regulators. They are supposed to be industry self regulators... I think we know how that works, right?
Before i bought a new car. I spent 5 months researching and asking questions. Visited 9 dealerships. I knew fully what i was getting myself into before doing it. I partly blame the individuals too for not educating themselves
Not sure I agree with that, most trust the system and then this happens. Personally I went to around 12 dealerships and walked out of a few before I ended up with my previous car, the biggest issue is that people don't understand you can just walk away, too many impulse buy and these dealers exploit the situation to set it up like that. I could even say my purchase was impulse as I made an offer about 10 minutes after driving and inspecting it, before it was even cleaned up as just got on the lot, just that I saw two others at a higher price at other dealers, checked second hand market, and then offered second hand market + 10% for the car (since where I lived the consumer protection act would kick in, and things like parts failing within 3 months that could be checked by the dealership that would likely fail in that time require the dealership to carry the cost, easier route for recourse). What was interesting is that insurance valued my car at 10% more than I paid for it in the case of an accident/write-off, which I thought funny.
@@Masterrunescapeer trusting the system without doing your research is in itself a failure on their part. You have to know what you're signing before you sign it. Trusting a business that inevitably is trying to make money off of you is foolish.
Bought my first hyundai I bought to Uber in, and it's the last hyundai I'll ever buy. 2012 Hyundai Elantra Limited, and it's having electrical issues similar to what most people have complained about over the last 5 years. I'm going to fix it up and trade it in for a toyota, brand new. Don't mind paying $30k for a Toyota that I know will work better for a Hyundai.
The greed at most dealerships is unbelievably Mind Blowing. Having been a salesman 👨💼 for years I had to quit because they were ripping me off on top of the customers. They don’t care you will be replaced. It’s really sad but my advice when shopping is to only compare true prices and finance charges. Watch out and question every fee! If it sounds wrong believe me it is! Question everything if you don’t get an answer that makes sense keep asking! When trading in a car DONT! Sell it privately and start fresh on new loan. If you have to trade it make the deal on the new car first and know exactly what you are paying for that car! Never finance more than 5 years! When making a deal don’t let them focus on monthly payments!!!!!! Deal for the cost of vehicles [ONLY]. If you have bad credit [fix it] if you can - first. If things sound shady they are! I things sound fishy they are! Trust your gut with this huge decision and never fall in luv with the vehicle until you have done the paperwork and correctly paid for the total reasonable price! Buying a car is no different than buying a watch! If it’s a good deal than it’s the right deal. If you have any questions please DM and I will only give you the truth. Thanks
HYDRA DYNAMIC have you considered with your experience, making a living helping those who are buying so they don’t get ripped off? There are people I’ve seen on FB who were formerly salesman that do help others by going with them to buy, or give information to assist them. I would pay. It would be well worth it.
Hey man I was thinking my car in for a new one I’ve paid over two years on this one and owe roughly 18k on it. If I were to trade it in would my goal be to get as close to the payoff as possible? Then finance the new one?
@@Disasterpiece5150 2 years can shave off 30% or more on your cars current trade in value. Dealerships also give you the lowest possible trade in price. And also... here's a tip, NEVER buy new cars, new cars will have many problems and other mechanical problems. Get the older models instead. Just scroll through the comment section for extra tips, because they're very helpful if you read carefully.
As long as you can pay it off anytime, whats the problem with a longer loan? As long as the interest rate remains the same, you will have more flexibility. If you can afford a 30k car, it’s better to have a longer period so that you can pay it off earlier while having more flexibility in your money flow. The advice should be always look at the total price, not the amount of the bi-weekly payment when buying a car.
As a person part in a battery and tyre industry, you should also check what size and what kind of battery does the car has. When the time comes that you will need a replacement, people get shock how battery and tyre costs. This also applies to available auto parts for your car
@wade wilson she said that in the video? I don't remember. Not that it matters...$5 to $8K a year isn't that much money, and doesn't necessarily put her in a stable financial situation
People say don’t buy used cars, don’t buy off Craigslist you’re get scammed, the car won’t be reliable. I’ve never been “scammed” of Craigslist and even if I did get scammed it’s still better then going into debt.
Eyacub12 skits worst thing G that's ever happened to me off a Craigslist car is a blown engine 3 weeks after buying. Guess what? I spent 500 getting it repaired (would've been less if I did it myself but that's too much time). That's less than the monthly payment on my mom's brand new civic (my car is a 94 civic hatch manual trans with a D16 swap)
Mortgage would be much cheaper than rent. Sooooooooo she would be saving money monthly. also wouldn't be throwing it away on rent anymore but no one would approve her. Her life is over. if she takes out anymore debt it should be student loans with the hope of being able to make more money
![Stromae, Pomme - “Ma Meilleure Ennemie” (from Arcane Season 2) [Official Visualizer]](http://i.ytimg.com/vi/1F3OGIFnW1k/mqdefault.jpg)
They should teach all this and more in high school.
Al X but won t cause this is a great way to trick young people and get money flowing
High school can’t teach everything to everyone. However, when I attended there was a course called Consumer Education that I took.
At least we know PeMdAs
Al X Or study finance, you will learn all about this.
I don't even understand what it means to get 0% interest on a loan? Or is it a car? I feel so dumb. But I really was just never taught, and when trying to look for the answers online. It is still confusing to me. But, I blame my irrational and emotional brain for this. I am trying to learn new things little by little every day. :3
The honest guy is from Yorkdale Dufferin Mazda. He is the pre-owned sales manager! His name is Ali. I purchased a car from him. Great guy! Thumbs up for him!
borae77 dealers make more on used cars than new!!! You don’t know what they own used cars for but you can a simple google search to find out on a new one.
If that's really him he is a nice guy!
Janice- while it is true that the margins on used cars are higher, it was still a great experience.
I was fortunate to work in a dealership that aligned customers with the right vehicles and budgets. We would be fired for misleading customers.
@TR.REDMN .... care to elaborate the brand name & city ? no need to be more specific .....
3 months the Hyundai was breaking down every week? NOTHING BEATS HONDA AND TOYOTA IN RELIABILITY.
@@JoseFernandez-wu8pj nothing.
@@JoseFernandez-wu8pj Mercedes E-class, BMW 3-series, VW golf and beetle, good saabs, any rear wheel drive volvo, and these are just the ones off the top of my head. Also a lot of Hondas tend to have transmission issues, and Toyota is still in the stoneage when it comes to technology. Idk why people think because one car is reliable or unreliable, or if you buy an abused used car that it represents the quality of the whole brand.
Get an old buick. Them bitches will run forever
Who is the honest guy that explained all the financial options? They should at least give him well deserved credit.
kokotiong they are gonna fire him
He is at Yorkdale Dufferin Mazda. He is the Used Car Manager. I bought few cars from him.
kokotiong he would get fired
He may not necessarily get fired. Sales people are paid to sell. As long as they do that, mangement is happy. If he is honest and can still sell, they won't fire him.
I know this may come as a shock to some people, but there are honest lots and honest sales people out there.
My school had an economics class that we are required to take before graduating and they taught us everything from buying a house or car and even starting a small business, I was surprised to find out that not all schools did this
Most Engineering Degrees from Canada and the US are the same. Very helpful.
epic neko rocker
hello gaian bro ive seen you in rally
Parents and personal responsibility
I took econ in highschool they did not teach that, learned from my mom who went with me to buy my car.
Lucky we didnt have anything like that
I wouldn’t work 2 jobs for a Hyundai
Brandon h normally you wouldn’t have too, Hyundai’s are cheap and cheerful cars, but the fact that the negative equity from her previous car was added to the current car made her payments close to something to the equivalent of a luxury compact or a midsize moderately specked family car.
For the amount of debt that she's in, it's like she's paying for a Corvette. She literally got scammed by the dealership.
Her alternative at this point is reposession, or selling the car and making up the deficiency in the note somehow. Maybe the latter isn't an option and the former is unpalatable. She might be able to get out of the deal through the state regulatory authority or hire an attorney. I agreed to a really bad car deal when I was her age, contract was invalid and the AG office in my state got them to unwind the deal.
3 months into a new car and it starts breaking down that is just bad luck and/or a lemon.
if your credit rating is R4, you wold work 4 jobs.
Here's a tip: buy used cars instead. Cars that are 2 to 3 years old and have relatively low mileage will be worth so much cheaper than if they were new and you'd still be able to get much of the car's true value.
Maybe 15-20 years ago. Have you seen used car prices lately, not to mention the rock-bottom interest rates on new cars? I just traded in a 2018 with 60k miles and 3 years of 5 kids' spills for more than I paid for it. I got into a 2022 for about what I still owed on the old car, with a better interest rate.
@@corsairsofnarshaddaa A couple years ago I was shopping around for a used car and most I thought weren't worth the price so I kept looking. Found a couple but were sold unfortunately. Decided to hold off and wait for a better deal then the pandemic hit. Wishing I just scooped one up. I'm gonna keep holding out until it's not ridiculous.
@@corsairsofnarshaddaa Stop taking everything on debt that's it's own problem, and paying 5000, 10000+ more on it. You know you're going to need a car in X time roughly. Just buy the damn thing. But that doesn't really say anything without the car types and options. You can still get decent cars from great brands for 3, 5, 10 grand (older than 2-3 years though) whereas the new one would cost you 30-60k easy. Especially at 24 working 2 jobs around min wage, paying 400$ a month? That's insane. That should be your rent with a roommate, not your car payment.
@@corsairsofnarshaddaa why would a dealership give you more than what you initially paid for a 4 year old car. It doesn't make sense to me.
@@Rspsand07 That's what I was thinking...I just bought a used car for $5000 with cash and I try to avoid debt like the plague.
Bought a Lambo with a 107 year loan. With modern tech im fairly sure ill live to 110 so was a good buy
That would have been an awesome buy if you knew you only had 2 years left to live lol.
Lol I laughed and I laughed...
Baron von Limbourgh yea but your family would have to pay for it 😂😂
Tony Nicholson what if his family is all dead
Savage Sebastian somone gotta pay for it or they will probably take his house or sum
The Mazda guy at 9:20 just made the best pubblicity to his company while still being honest and helping the costumer. Props to people who really have a working strategy. Just look at the comments here.
eagle
MAZDA is still a garbage car for the money
What kind of Car do you drive Moron
Had the best experience at a Mazda dealership TBH my worst experience was at a Kia dealership.
U
@@-First-Last a new one? maybe...used? nah miatas are the best
Notice how there was only 1 honest guy? His manager probably fired him by now.
Michael Simion 😂😂😂👌
Maybe that year people are looking for that guy. Just saying
@@doom-driveneap4569 dont find that funny
Jibrahn Escalante S bus
I.was thinking the same thought lol
I’m not even Canadian and I love CBC Marletplace. Such a fantastic consumer advocacy programme and it’s taught me questions to ask and tricks to watch out for in my own consumer market
Same!
me too!!
Me too haha
same ! I am from Australia
Yup
I must have been living under a rock for not knowing they make these kinds of videos. Thankyou CBC!
FOCUS ON THE FINAL PRICE OF THE CAR.
DONT FOCUS ON THE MONTHLY PAYMENTS.
You're wasting your time.No one will listen. Most buy on 'emotion'.
You should always apply for loan before you walk into a dealership. Then you know what you can afford.
Tomas T your comment makes too much sense... the video never addresses this level of common sense
I think understanding BOTH is important. Yea the final price is important, but so are the monthly payments. Can you afford to buy the car in 3 years or do you need lower payments at 4 years to leave room for cost of maintenence. Also I think people need to stop this obsession with buying brand new cars, buy used for 15k or less. You'll have much lower payments plus depending on the year some are still covered under warranty.
AGREED
That Mazda guy has to be the most honest sales person I've ever seen in my life. Wow. If I was there, I'd hug him!
Dont be toooooooo sure
MORE REASON TO BUY A MAZDA.
Pinoy Car Loans Canada
He would hug him for being honest, he didn’t say nothing about buying the car
Pinoy Car Loans Canada
Not everyone, but in businesses, people can get caught up in trying to get money, cause that how people are. It’s not a phenomena in the car industry, but in others, too
When my grandfather bought one he was shown everything and was aware of the cost.
Here’s a secret that no one wants to hear: Live below your means and save save save!!!!
Amen
That has been my motto and I am now retired with no debt. I never bought a new car.
But the police said it was illegal to sleep in my car :(
Easier said than done for some people.
what are you saving for you ,mean like squirrel saves for the winter. save it allll dont even eat so you wont have to use toilet paper.
My friend was trying to buy used car cash and her budget $9000 or below but the guy told us "we prefer finance over the cash" holy red flag we run away. The story happened in Edmonton 😂
based on my information they love cash
@@ahlamsoliman52 no, car dealership hates cash. Financing is the king.
@@Gstunfisk wow
@@ahlamsoliman52 yes times have changed. Cash means less profit for dealerships.
@@Gstunfisk thats crazy because I only use cash lol
After 2 years of working in car sales, you can’t help but to feel bad for the industry. I get it, people need money in their pockets. But till I got into the industry, I never met real terrible people in my life. I soon realize that almost everyone is a genuinely bad person in that industry. You wouldn’t believe the type of pressure and sleeziness these people had under their sleeves. After how it affected me mentally and emotionally, even physically, I am glad to say I am out of the industry for good.
To all the people who need a car and wants to buy one, here’s my advice: please think. Don’t buy on impulse. Always negotiate price first. But be respectful, there are still good sales people out there (like shown in this video). Hopefully you found some use for some of this, I never comment but I felt like I was compelled to.
Thank You brother. God bless u
You available to come with me to purchase my next vehicle? lol Need an insider's help
Life! full of scum! in every walk
If you read this post, can you give us several things that they do like examples or something?
Totally agree with you man. I used to work in the industry as well, on the parts+service side and the amount of sleeze I encountered is UNREAL in the industry. Not everyone is sleeze though, and I did make a few friends in sales during my tenure at the dealerships and when I buy, I will typically go through them.
Love this. I am from India, having worked in automotive sales for 23 years. I have worked in India and the Middle East. Lost my job for being honest to a customer. The customer came to exchange his old car (which was on finance), I advised him not to sell off the car as the new car instalment shall be a huge financial hit on his salary. Unfortunately the customer was a mystery buyer, the incident got reported to my management and I was sacked!!! So much for being honest!!
Thats terrible! How can just being honest invite such punitive actions?!
@@palladium607 The company must have thought that I was encouraging business loss more than generating business.
Honestly you deserve a better company that represents who you are as a person loyal to your conscious and an amazing honest human being! I’m sorry you lost your job but I truly feel you deserve better, people now in days aren’t truly caring for someone else’s budget more than a bonus for a sale YOU deserve serious recognition!
Honest people are very much hated in the luciferian world we live in.
Sad. I would have gone to someone else and not have told on you..
Who in the hell would pay $30,336 for a Hyundai ???? that's insane.
Rex Lint 😂😂😂😂💀
30,336 Canadian. That's about $23K USD at today's exchange rate, which doesn't seem all that much off for a new compact car.
"Chantelle" and many others who are as ignorant.
the msrp of a corolla is 19k canadian
As a car dealership it's common price for a new car like Hyndai
Bought my very first car at 21 at my local Mazda dealership and they basically told me the same as the Mazda sales associate in the video. Recommended a 4 year loan but I ended up settling on 5 instead. Surprisingly was a good experience for my first time buying, they were honest and genuinely wanted the best for me.
Why buy a brand new car for your first one? You can buy a reliable Honda or Toyota for a couple grand. Pay for it with cash upfront and then save money for the future. Done.
Squidward's House and make sure everything is written down and not said
Also Kia is actually reliable, better than Nissan but not too close to Honda, in reliability
A person cannot buy a reliable anything for a couple of grand. An eight year old Honda Civic LX in good condition will cost between $6K and $7K.
I think that was a figurative speech to emphasise how much less you end up paying for a used car.
Squidward's House true, also new cars are expensive and depreciate quickly, also the warranty can be an issue if you do even the slightest of mods like a new oil filter if you don’t read the warranty’s terms closely.
1. Buy a car to go to work
2. Go to work to pay the car.
Izham Shaari u ain't never lied
buy the car outright no need for payments...just don't buy into getting the fanciest car out there.
I mean you can ride the bus but that ain't free either 🤷🏻♀️
@@k-isfor-kristina $60 in bus fares bi-weekly sounds a lot better than $150+ for a car (not including insurance, gas, etc)
@@jessiequinton9974 yeah not to mention if the bus breaks down you don't have to fix it
84 months over 300 a month for a Hyundai??? Never in a million years!
James Wilson $300/month x 84 months due to the $17k of neg equity, making the actual cost of that car $50k. This woman is just a fool who parted with her money.
They don't have lemon laws in Canada? it's obvious she got ripped off by that pos Hyundai
What does being Hyundai have anything to do with it? I know someone who paid $600 a month for 7 years for a Nissan Rogue. All the dealerships do the same if they can hook someone to take the bait. And how about the other car manufacturers. GM and Chrysler aren't exactly at the top of the dependability chart. Land rover and Jaguar are the worst with regards to reliability. Honda has had electrical and transmission issues and has dropped to the middle of the pack. Toyotas are overpriced, made in the Americas or Mexico and their interior fit and finish is horrible. For example, look at the Toyota 4runner. Big on the outside. Tiny on the inside. Too much plastic, outdated 90ish interior and I'm only 6 feet tall and I feel cramped. There isn't even basic comfort and luxury. Toyota are not only cheapskates. Their living off their past glory. And it's not the brand but the model. Hyundai Tucson is rated high in reliability. So is the Hyundai i20 in Europe. And the best bang for the buck Elantra. You're living in the 90's kid. Things have changed a lot since then.
@@heidernheinreich4827 yeah I notice that about Toyota I'm 6 feet to not enough room vw makes them about the right size though
@@mkratos17 they sure are...and the 4runner is supposed to be a bigger version of the highlander
I'm so fortunate to have my dad. He bought the car and paid in full and I agreed to pay him back in smaller payments. In the long run much much cheaper
Damn you lucky. Wish I had parents who had any type of money.
You’re blessed. Everybody doesn’t have bankrolling parents.
Helicopter Parents. You are what is wrong with society across the globe.
@@jeeess9979 cope
@@jeeess9979 jealous much
I like it that the Mazda employee is the one who is honest in explaining.
That's why i drive a miata :)
mazda are amazing cars! Loving my 2018 Mazda 3 Touring hatchback :)
@Swiit Lime year round, baby
Still driving my 2007 Mazda3!
I used to really like the people at the Mazda dealership when I drove a Mazda. Always honest and helpful. Now I have an Acura and they are just meh
Everybody saying she shouldn't have bought a Hyundai like a Honda would have solved her problems lmao What she shouldn't have done was buy a brand-new $30,000 car on an hourly cashier's income.
Honda's have enough transmission problems and they cost an arm and a leg. Hondas aren't what they used to be.
@@heidernheinreich4827 just get a manual transmission Honda. Their CVT is garbage, but motor is still decent. Most CVTs are a failure waiting to happen.
A Honda wouldn't have broken down after 3 months though
My 2018 Camry was 33k and I'm working on an hourly cashier's salary, I have no problem.
You’re better off buying a Honda or Toyota
Heartbreaking to see this happen to her 50k for a Hyundai. I say repo that junk save enough money to buy a used cheap vehicle to move around. Wasting her youth killing herself working two jobs. you can see the stress in her face.
Nathan Anderson I don’t think she has tooth gap insurance
Yes, just buy a beater car from Craigslist or also (Letgo and Mercari in USA, Kijiji in Canada) for $500.
That's just it, they broke the lease or contract with all the bs they did. So I'm pretty sure she can get out of it.
00crashtest I have two beater cars.
She is a victim
My family always taught me, if you can’t buy something in cash, you can’t afford it. Of course the house is the exception because it appreciates in value. Cars don’t. I plan to buy my first car, $23,000 in cash in the Spring so I never have to worry about interest or monthly payments.
I very much agree with You. However wouldn't it be better to buy a used car for cheaper? Since it would be your first car. Other reasons too for example You would have the money for fuel for quite a while. But You do You. Good luck.
@@matiissmc8987 that's what I did. I've owned a total of 4 cars outright my whole life. If I want a new car I save, sell my old one, and by another one out right. I don't plan to buy a brand new dealership car till I comfortably pay it off within a year or 2. When I'm able to do that my credit will look amazing and I'll have no problem buying a house. But still the thought of driving a car I dont completely own is terrifying lolol.
Also with 6-8 year payments you dont want the car after 2 or 3 years.
@@matiissmc8987 that is a good point. I have looked at some good used cars for half that price. If I plan to keep it for ten years, a new one is tempting but the price of 2018 sedan I’m looking at it is about 12,000 and that definitely looks good. Haha. I can wait a bit longer to get a car now that they extended our remote work until September. I got some time to think about it more.
@Brad if you want to make some money buying your car in cash, do this instead, trust me.
If you're able to pay it in cash, OR 0% financing for 5yrs, do the 0% financing, and Then just invest the rest at an avg of 8%, that you would have spend into the car 👌
I want to thank this young woman for coming forward at the risk of some embarrassment I am sure, to tell others the mistake and problems she has had. It is so nice to see her try and help others avoid the pitfalls that she fell into. Thank you so much.
I bought my first car cash $4,000
Now 5 years later i have enough save to buy the actual one I wanted I saved 30k in the bank that is enough to buy a new car straight out
Get a car for 10k and!save that 20
punker4Real buy cheap beaten houses 🏠 🏡 Fix then up sell them for more or put them up for rent. Best investments with less than 70,000 cash invested you can double your money maybe even triple.
Normally it’s not smart to liquidate that much money into a depreciating asset like a new car. Drive it off the lot and you’ve already lost a hefty amount of 💰.
@@icloud9553 2 likes!
Buy used cars for cheap and drive them until the repair cost more then you paid for the car.
Or
Buy a new car and sell it around 80.000 km. Within 3 years. You only have to pay the minus each 3 years
How do I buy a vehicle without getting screwed?
1) I shop with the attitude I could care less if I buy a vehicle.
I have every intention of leaving the dealership without a vehicle. Take a smart friend along if you need to thy are your excuse for not having time to spend on the sales lot.
2) Know who’s house you’re in and don’t go all the way on the first date.
Stay out of the show room that’s their house.
The office is the bedroom, and bedrooms are meant for two things. Sleeping and Screwing.
3) Study and review the paperwork. If you’re comfortable with the sale take the paperwork home and look it over with another person. If you’re not legal or financially savvy take it to an attorney and an accountant. It might cost you a hundred bucks but it will save you allot more later.
Bob Is The Builder one more piece of advice....before you make a great comment, learn how to spell ‘a lot’ correctly so people take your comment to heart. 💜
This is the news reporting that betters the world. Thank you for this.... I heard Canada as I was writing this and now it all makes sense.
I bougut a suzuki for $2800 3 years ago, did uber with it for little bit. Car still runs strong.. Always buy cash..saves u tons of money.
I dont believe that's true .... you can only drive uber with a car that's 8 years old
If I could buy cash, I'd be a milionaire
@@c0583094 depends on where you live
I don’t make enough at my job damn
Chantell is pretty naive. plus why was she paying for repairs on a 3 month old car when she should be well within the warranty period?
exactly my thoughts
Were the repairs maintenance or schedule? I missed that part
Ikr. Did she NOT remember cars have manufacturer warranties if she bought a relatively new car?!
not to mention lemon laws come into play if there are multiple major break-downs within the first few months.
@bou path considering it was revealed that what they were doing is illegal, im curious if she still had to continue paying all that off
Used cars is the way to go💯
agreed,
Yeah, but you need to thank the people who buy new cars, because then we can get used cars
@@32BitLink True that
three years and couple months is my limit to pay off a used car
You have to be VERY CAREFUL buying a used car. A lot of the time you are just buying someone else's problems.
Working two jobs, just to pay something that can bring you from one job to an other, I found this frustrating, thats really sad for that person
"I'm not here to buy a payment book, I'm here to buy a car." That changes the tune of the salesperson real quick.
5:36 John CARmichael
I'm glad I saw this. I'm currently shopping for a new vehicle and many dealerships (even my own bank) are strongly pushing 8 year loans. I already knew that was a bad idea and I wasn't going to do it, the interest rates on an 8 year loan are outrageous. My bank offered me 30,000 with monthly payments of $540 over 8 years meaning I would be paying 51,000 for a 30,000 loan. No way in hell will I ever agree to such terms.
I have advice for people. Especially those who are young with more time than money.
The honest truth is, if you are somewhat technically inclined, you can save so much money by being knowledgable about cars and repairs.
I grew up in Phoenix, AZ. There, I can find a reliable vehicle for $3k every day; Usually less. Just learn what to look for, be a brand snob (Toyota, Honda, etc.), know the basics of car evaluation, research the common issues of a specifc vehicle before you inspect, and don't be afraid to spend the buyer's time on evaluation (If you have the cash, they will wait). I'm not saying everyone is capable of this, but a good majority of people are. If understanding the basics of vehicles is just of no interest to you, think about your interest in having money, and use that to be disciplined and research.
If it's possible, live close to work so that you can take a bicycle or electric scooter to work in case you need to do a multi-day part order/repair. Factor that metric into your pay. Second, learn how to inspect a vehicle. At the very least, buy a $10 obd2, bluetooth, diagnostic port error code reader (For vehicles 1996 or newer in the U.S.) and pay $5 for the Torque app. Being disciplined with your time will save you so much money. Already have a basic set of tools (elm reader, sockets, ratchet, extensions, channel locks, wrenches, plyers, funnel, and a cheap multimeter).
Amazon and RUclips are great resources that earlier generations didn't have.
Reliable car for 3k. Lmao!!!
I bought a 95 chevy k1500 for 1200 had it going on year 5 almost 400k kilometers and runs like a top. The key is maintance and learning to turn a wrench. I went overboard with the knowledge of my truck but i love it.
Also brand snob. Old chevy trucks run a long time
@@jobdoneright5934 You can easily find something reliable for $3k. Some examples include older Civics and Corollas, 4 cylinder Ford Ranger, basic stuff like that. Stay away from the dealership, and be patient on Craigslist. I found my car for $1500 and it runs perfectly. You don't need touch screens or heated seats.
You should publish this somewhere. Thanks for your input.
Years ago I didn't realize how much I really paid for my car until I looked at the paper work. I was so angry at myself for paying 17% interest. I was 21 years old and went alone. No research, no knowledge of the vehicles I was looking at, and no clue how slick the saleslady was. She pretended to be my friend as a woman. I was a deer thrown to a slaughter.
People stink grandma.
takes 20 minutes of research to learn
but even then don’t feel too bad
mine was at 16 percent and i think it’s normal because of our credit score and it being our first time car buying.
@@ferniesz nah that’s really high even for first time buyers. I got my first brand new car, never finance anything in my life and got approved for 1.9%. Salespeople believe it or not will try to do anything to make you buy that day and hassle you until you sign it on the dotted line. So you need to play along and also hassle them as well.
Wow and here I am with 4.7% interest and think it is way too much.
biweekly!? Those aren't low payments in the first place
Wolf House THANK YOU!!!!!! Bi weekly pfft. Who wants to psh in s car twice a month???
Wolf House they say it like that to make it sound cheaper. If they said $300 a month, people might think twice.
The average car payment consumers have today is 400-450/mo
@@crystalkadletc1944 Paying a loan in more frequent payments can reduce the overall interest you pay. It doesn't matter how frequent the payments are, it just gets paid from the monthly budget anyway. If the frequency of the payments of the car is something that you have to consider or bothers you, you can't afford to finance a car.
@@ToyotaTom04 for 7 years though?
Wow. The good salesperson in this video is from Mazda. Our salesperson from Mazda was really honest too.
This kind of stuff needs to be taught in high school.
used to be budget cuts these classes first to go
@@toyoscio good news, they are bringing it back
you mean it's not????
Kalese, you could teach me whatever.....whenever baby😉😉😉😉😘
Yes teachem. Teachem all the way
0% for 84 months! That's insanely good! Normally, the length of time of the loan equates to paying more interest, but here there is still 0% interest.
Instead of interest there will be a flat admin fee or something along those lines, with the value of the car being less than the loan amount.
Here’s a secret: Live with in your means.
I think the point of the article is they trick you into thinking you are living within your means (seven year loan), but you aren't. I'm looking at a $12,000 2015 used, but my 2010 Corolla still has life in it.
ziggzagg Zip That makes life boring.
the plastic parts will still will break before then
my dad has a '13 corolla and it's "breaking plastic parts left and right"
Don't get pregnant on top of that....
@@blackericdenice bruh....😂✊🏽
So is there no such thing as manufacturer warranty on a vehicle purchased in Canada. She only owned the car for 3 months and it started breaking down you couldn't afford to fix it so you traded it off for another car. all the issues with that cars should have been covered under a manufacturer's warranty and she should have never had to traded it off for a different vehicle.
YES! THANK YOU. She got manipulated by a dealership who took advantage of her vulnerability as a single mother.
Even the CBC should have pointed out the warranty issue: She would have run into the same issue if she had loaned on a 48 month term
It's covered under warranty. Chantelle was just not informed enough.
I was wondering the same thing!!!
Mike Gullett yeah and Hyundai’s have I think 120,000 mile 3 year warranty or something crazy like that
@@reidheine8838 yea Kia and Hyundai have 5 years on the powertrain. Longest warranty in the business
*i dont get why people dont understand that if you trade in your car with payment left on that you still have to continue to pay for it if you do decide to trade in for a new one. whats hard to understand that? its common sense omg!!!*
I love how calm and composed Chantelle is and does not let stress and worry get to her. I wish they asked her how she could be like that, so calm and cool.
You can only stay in panic mode for so long. Then you get used to stuff and it's just an unpleasant part of your life. I'm sure she's had quite a while to get used to it.
They did ask her how she was so calm about the debt, and she said that she had just accepted it, she wasn't going to get out of it, and she had to pay it.
@@mattcrandall5045 So acceptance, and just coming to terms with it, instead of being bitter, resentful, angry, worrying and stressing yourself to poor health. Thank you Matt for pointing that out. So, that, acceptance, is one of the ways that people stay calm and cool through the upsets of life, I guess.
@@rsrs6959 yeah she just accepted that the debt would be there. You can tell it definitely bothers her, but she isn't letting it consume or overwhelm her.
@@mattcrandall5045 For some people when unpleasant things happen in life then that "consumes and overwhelms them." but then there are others, that sail smoothly through life. I really admire that quality off her, that "she isn't letting it consume or overwhelm her." I want to find out that apart from *acceptance* , *what other thoughts, attitudes, and what other things help one not be consumed and feel overwhelmed by the lows, the unpleasantness, and the mishaps of life, and stay calm, cool and composed* .
When i bought my car from Honda they actually encouraged me to get a 4 year loan with only 0.99% APR. so i guess some dealerships are more honest than others
Better off pricing your affordability based on 4-5 years then taking the max term afterwards if they are offering a good rate like 0%.
LOL....That actually puts more money in their pocket upfront, and it's good for you as well, it's a win win and it's a very normal thing for people with decent credit.
This is why you buy a used corrola they will last forever with minor maintenance
Same thing with my 2003 Honda Civic. My step dad had it forever and then sold it to me. Aside from routine servicing and issues associated with vandalism, there have been no major repairs needed to be done.
I've had my Corolla for 17 years, it has some cosmetic defects but not a single breakdown.
I have a 1973 Maverick that's been in my family since it came out grandpa to mother to me. Everyone in my immediate family learned to drive in it. The car had over 550k miles when we replaced the head gasket. We got in a wreck in it against a 2007 surburban, the suburban was totaled (unfortunately we owed them) but the Maverick was still intact just a damaged fender and bumper.
890k miles the cosmetic had seen better days, but the original engine is still going strong especially the tranny.
If you can get a chance to buy a vintage car(50s-72 are the more reliable ones) at a attainable price, go for it. It's one of those cars that is relatively safe to buy at over 100k miles because they still have about 80% of it's life left.
I will say one thing if you're a male under 21 years old, insurance will be expensive so try to get as much deductibles as possible like showing them that you're a college student.
99 prizm lsi w/ 170000 miles for $600.00. Have it now for two years no issues at all. Only thing I replace is the oil @ every 3000 miles
@@khadijakhan699 of course.. it's because older corolla with less computer in it XD everything that is simpler just WORK.. and have less breakdown..
Why is everyone acting like car dealerships are honest? They're trying to make a living, of course they're going to try and charge as much as possible. Bit of advice, have an old Asian man go in with you. My dad has gotten me the best deals haha.
Can I borrow your dad when I go to buy a car? My mom and I just got ripped off on a terrible car that sells for only $3000-$4000, but the dealership sold it to us for $7000. Even our insurance company said that it was expensive. Then I went home and searched it up on auto trader.. And yes.. It was indeed too expensive. This is the Ford Fiesta SE 2011. The gears make weird noises, doesn't heat up easily, and sometimes when I step on the breaks, it kinda rolls forward a bit. It basically has a ton of problems, and that's why it was so cheap... But we still got ripped off nonetheless.
@@tinydough8746 I'm sorry but the first problem is that you took your mom. Should've taken your father or a man who knows about cars. Men are generally less agreeable and could possibly get you a better deal.
Sooooo trueeee
ALWAYS ask what the OTD (Out the door) price is for the vehicle after taxes and mandatory fees. Once you ask that question they’ll know they aren’t dealing with a customer they can rip off. Most customers just ask what the payments are. And never finance for more than 60 months (5 years).
Thank u sir,/ma'am!
THE BEST WAY TO BUY A CAR... CASH
Facts, bought my used truck for 8k in cash, needs alittls TLC but maintenance cost is nothing compared to paying a $500+ note for 5-7 years
I dream of being able to pay cash for a new Challenger or Tacoma, but that would take a few of my years in the military before I could drop $30,000 on the table.
Well yes and no, I mean if you pay it cash you get rid of that payment and you are done, the car is yours. But if you can get a a very cheap interest rate "1.9-2.8" or something like that, you could use the cash that you would had used to pay it off in other investments that make you more than what you are paying on the interest. You would have freed your money to use it for something else that makes you more than you are paying.
@@donjuandinero you could put aside a percentage of that as a down payment like 5 to 10k and probably still walk out with a decent deal. Shop around for insurance too. I think that's another missed point is insurance is higher on new cars.
@@donjuandinero Good luck buddy! And make sure it's a V8!
this is a video about people who dont have enough money to buy a car, financing cars that are excessive for them... the problem is not the dealers scamming innocents its the people who lack money trying to get a car that is much more nicer than they have means to easily pay for.
True. But people who have to commute to work often need a car. They could and should buy a used car and save up the cash to purchase that outright. But few do. So they get a crap high interest loan on a worthless used car, then are gunshy about used cars when they run into problems (which they do not have the technical ability or the money to fix). So it's trade in time...
I'm not defending it. But for a significant portion of our population, saving up to pay cash for a car or a house or any other major purchase is either very difficult or impossible.
And transit in many places is not a viable option for getting to and from work.
Love how the "Regulator" does not seem to do his job. It seems like you guys had to do it for him; he and his staff/team should be keeping an eye on things like this on a consistent basis. It must be nice to make that much money and not have to do what your job title includes, just act really surprised when you find out and say "we are absolutely going to look into this; this is ridiculous!!!!"
Welcome to government
welcome to the system
Should be a follow up to what was discovered after looking into her situation. If in fact it was looked in to.
He certainly does his job like any Government employee. He waits for large companies like car manufacturers to approach him, and offer him a vacation in the Bahamas to lay off them.
Exactly. Everything is Troubling to him. That’s about it
When you pay by weekly instead of monthly then you double the risk of messing up and not being able to pay them and them taking your car way. Never except a weekly or by weekly payment deal. Always do a monthly deal.
A weekly pays off faster though so you end up paying less in the long run. If you know you can make weekly payments it's the better option financially
@@TheMangoMovement No, It is better to agree to monthly payments.
Then you still have the choice to pay more. I know this because I done it. I made an agreement to pay a c as r off in two years with a $500 intrest payment every six months. I paid it off in a year and a half and saved $500.
If you work in the weather like I do and it snows for a week and you cant work then there goes your car after paying on it for a year. Weekly payments are a bad gamble!
Well...I only buy vehicles under $7500 and they last more than 5 years. I drive them until the wheels fall off. They can last 10 years even. Always a good deal. I am not afraid they will be scratched and I dont care about the road conditions damaging the car paint.
Good idea.
You are a smart guy
DJ........no.Its about different priorities. I would rather spend it on my home, children's education, going for nice meals or beautiful holidays in the Maldives. Grow up!
"cAr Is A cAR mAn, pOinT a tO PoInT B"
Jk I fw that too fam
SCD4 just because you have a different lifestyle than him doesn’t mean your grown up and he’s not. Cars can be hobbies for people. Also everybody doesn’t have kids they need to educate or want to go to the Maldives, some would rather drive something nice 365 days than go on vacation for 7 days.
You should have shown the face of the employee who were HONEST so at least you can help him to get more clients! He deserves it for his honesty
Rapide Baesa Town Center he'd probably get fired though, for being honest
Im salesperson and Mazda enthusiast. way to go Mazda guy!
You should do an update for the current car market. If you have, where can this be located?
problems after 3 months???? so she had to trade in her new car? dont these new cars have warranty??
I simply informed every customers about the benefits and pitfalls to the best of my knowledge. Unfortunately, most customers are not appreciated, walked away and my boss told me that "you are talking too much." Let life taking care of them.
4 years ago i went about 18k (that was a crazy amount, for as young as i was) underwater on a dumb trade in i made. worst mistake ever. i regret it everyday. but i have been grinding everyday to pay it off, begging for overtime, working odd jobs. and even flipping cars i buy low and repair, you know, whatever it takes.
if i keep at it i will have the title in my hands in 4 months. there is light at the end of the tunnel. keep focused and learn from your mistakes.
Black_Mage excellent job. However you shouldnt have had to go through it.
It's good that you build your credit when you where young
Did you get the title?
Mad respect from me. Great job man.
Good luck!!
I'm re-watching this because I just had a Chevy dealership tell me that I needed to put down a $500 deposit for a "credit check". I kid you not. Of course, they told me that the deposit was fully refundable - not true.
People have the power of the internet yet they refuse to do basic research that could save them thousands of dollars and a lot of stress. I just don't get it.
it's called laziness, as far as I can understand. people want easy, stressless, few step, less information and simple "tasks".
people pay for convience over practicality
I literally just commented nearly the same thing. This is the age of information, just freaking google it! Watch a youtube video or two please! Save thousands
The internet is for "World Star" and Arianna Grande videos, not education.
jeff ghant Underrated comment right here
I always thought we are being scammed in everything and it is absolutely true.
I live in the United States. However, I find the advice/information in this video to be applicable to either the US or Canada when it comes to buying a car. Thank you for posting!
I used to own a Hyundai 20 years ago, and things always breakdown. Since then, I have steered away from Hyundai, but I've heard their reliability has improved a lot since then. So, I am surprised by this video, taken in 2017, that shows Hyundai still breaking down so fast and easily...
I still stick with Toyota and Honda, if I want reliability and low maintenance cost.
Yes, my toyota is now on it’s 8th year, no issues.
I have a 2013 Kia Optima. Running perfectly. No repairs at all except the usual airfilter, oil changes, tire rotation.
I still drive a 04 Mazda 3, they are also really reliable good cars
@@louisbarningham True. Mazda makes reliable cars also, but not sure about the recent models...
CBC NEEDS TO COME TO AMERICA!!!
ABC
@Martin Dean kkkkk but CBC is the best others are scams apart CNN FOX etc
Step 1) Find a Kia or Hyundai Dealership
Step 2) Remember their location and never go inside .
Step 3) live happy
Japanese > Korean
@@wchi8391 lol @ nissan.
@@wchi8391 True, but Korean > Chinese.
K.eep It In A.sia
😂😂😂🤣🤣🤣
I dealt with this also.. I got sold a $64.000 for a 2016 GMC truck on a 84 month payment plan at almost $1000 a month. The dealership still calls me to come in a trade my truck in even after I have only had it not even a year and a half. These guys don't care about you and have only one thing in mind is to line their pockets and mean while the buyer is struggling to make the payments and if you can't it gets repoed and all the money you payed into is gone. The world is harsh place with very unethical people there to take you down. The love of money is the route of all evil.
When I bought my first (and only) new truck they did the same thing to me (this was years ago and I refused to accept anything over a 4 year amortization, plus they were offering 0.9% financing for a very small up front fee).
They called me every month from 24 months to about 32 months of the finance term. I finally told them that I would not be ready to trade "old paint" in until it's 20th birthday. They stopped calling. Two months from now, Old Paint will turn 20 years old. It still runs fine. The only thing I don't have is bluetooth or a nav system. I don't need either one.
ShmuelWeintraub just get a kit from amazon, and use the phone for navigation, works great for me
What in the world is your interest rate?
Wait I'm confused-- how is it a 64k dollar truck if you're paying $1k every month for 84 months? Was that a typo or...
This video is extremely helpful even for countries outside Canada, appreciate the efforts put in
That poor girl, I can’t imagine the level of financial ignorance she had when she bought a NEW CAR while working as a cashier..
LOL Cashiers today can't even calculate the correct change for a purchase without the aid of the register. But she still thought she was capable of negotiating a contract for such a major purchase as a car. She is "clueless"!
don't worry she will get some money from child benefits, after 5 years she will probably get 5 kids
v3le swear down this girls crazy
Yes..and then parked her brand new car in a grocery store parking lot full of old junk transient drivers and shopping carts just begging to dent scratch and crash into her car..buy an older car with 80 to 100000 kms for 4000 dollars cash only..nothing else and take it to a CAA approved shop and get it inspected!
That’s what you call a dumbass!! She didn’t earn enough to purchase even the tires for the car..lol.
So the second lady had a brand new car under warranty, had a few issues, so instead of having them just fix it, she bought another new car. Smart.
TheQuickyouknow This is what i was thinking...Thats an exclusive example of bird head
Bought another new car, from the same company. She didn't even think "I should at least not buy another Hyundai". Though the most troubling thing really is the fact it should've been in warranty.
Yeah, what the hell happened to the 10 year/100k mile warranty?
Dont ever borrow money to buy something that depreciates.
Steve Asheim great advice
Are you weathly?
Yes, just buy a beater car from Craigslist or also (Letgo and Mercari in USA, Kijiji in Canada) for $500.
I wish i knew that before I signed 😥😪
Much easier said than done, but good advice nonetheless.
Don't "brand new Hyundai's" have warranties? I'm not understanding the reason to go in the hole for a different car, when the other one would be repaired under warranty. ????
Just dont finance a car:if you dont have enough money, just buy a cheap used car
there is not a single corporation in the world with zero debt. Debt is not something to be afraid of.
Define cheap
Yeah I bought a car for 300 it took me a year to start driving it still beats a payment because the first year I had the car j didn't have a job I have a career now
Typical financial illiteracy. There’s no free lunch. The longer the loan the more you end up paying. Dealers/banks don’t do charity. Why doesn’t she do a little math?
hellowjp agreed, how could she look at $17,000 and not ask what that is for specifically and also that increases the total cost of the vehicle.. If something should cost let's say $20,000 and instead it shows as $37,000 wouldn't a person be like wtf??? She just signs it and then complains after. Like I said before, the dealers are sneaky, but we have to actually read our stuff and get things all in writing, cross the t's and dot the i's like they say.
Well if there’s a 7 year loan at 0% and you can pay as quick as you want and a 4 year loan at 3% why wouldn’t you take the 7 year loan and pay it off in 4 years. Save yourself the 3% interest
Good point. Sadly, what you propose requires a bit of thinking. When it comes to finance, far too many people do not think.
Yea but interest rates right now where i live (toronto) are so low it's crazy so at the end, you dont end up paying a bank full of money in interest.
hellowjp You're the one who lacks financial litteracy. They're talking about 0% loans. The longer you can get the better. If you want to pay up faster, say 3 years, just divide the price of your car by 36 and substract your monthly car payment from that number. Throw the rest in a sinking fund that makes anything >0% interest and you're bassically making free money. Absolutely no reason whatsoever to take a shorter loan unless you have absolutely no self control with your money, which isn't the dealership's problem.
Here's the #1 rule. Never (that's NEVER) answer a salesperson's question. They are
meant to trick you.
Yep, and they are not your friend.
@@frankvanwiechen8853 never believe anything that comes out their mouth
The best thing to do is to find out the price on internet and different dilers and then make a decision.
And that, my friend, is the reason why millennials stopped buying cars
gsilva220 millennials don’t talk to people so....
And that, my friend, is why millennials will only go where they're allowed to when their assigned "expert" says they can. And that, my friend is why millennials will be in borrowed everything, sharing a bunk bed with other millenials, free to do pretty much anything demanded or your life "comforts" can and will be refused until you comply. And that, my friend, is why us older and bitchier Americans are screaming bloody murder about how damn easy you're making it for the ultra rich and powerful who only have your lives to show their power because they can already buy anything they want 100 times over.
@@wlonsdale1 no they go to a car sale website, sort the prices from lowest to highest. Take in a few metrics that are important and don't look at second best.
Walt Lonsdale 😂😂😂😂this comment made me laugh because it’s very accurate
They need to stop blaming us for that. That and the fact they keep building for Baby Boomers and Gen Xers with $90k US a year income.
I am not a friend of the dealership and I don't think they are anywhere near honest, but consumers must be held responsible somewhere. Should we protect them from all possible bad decisions they could make? The consumer needs to be educated as much as the saleman needs to be honest. People who aren't good with money should save up for a car before buying it.
Thanh Truong I agree but it's more about correcting deception/implementing full transparency. It's also about eliminating that pressure environment of making the decision on the spot. Some people are more vulnerable/prone than others, like elderly people for example. It's always best just to have set rules in place for transparency, it'll avoid problems in the future and protect certain types of people who are just susceptible to things like that just from their nature/personality.
"People who aren't good with money should save up for a car before buying it."
People who aren't good with money usually cannot save or have nothing in savings to begin with.
Max I agree with everything you said. I am just saying we should be aware of other people ripping us off as well. Government oversight isn't always going to be there to protect us. When it's not there, we need to protect ourselves. In this particular case, the deception isn't all that complicated, we consumers should have seen right pass this. A car is a huge long term purchase, people should spent at least a day thinking about it.
Thanh Truong That's exactly it. It's not all salespeople's fault, nor is it all customer's fault. Since customer will be bound legally for the duration of the loan, it pays for customers to educate themselves.
Max then don't but a car. Public transit, taxi, and beg a friend for a ride. Better yet, get a bike. I've done all of that before I got my first 10 years old car.
Buys a Hyundai, has issues. Buys another Hyundai. Like wtf. Have you ever heard of Toyota or Honda ?
Women have as much knowledge about cars as they do about driving them lol
Em Bem well said 😎
Maybe she thought she bought a Honda. The car does have a big "H" in front.
What about warranty?I don’t believe this story at all🤪Toyota r the best car
Honda quality is that still a thing ?
Good job Mazda! I've been impressed with my Mazda dealership, they always tell me there's nothing to fix on my 2013 hatch every time i OCD and bring it in, even when I go in tripping about a whole new suspension, my service manager was just like LOL why, your suspension is fine, stop it. They're good guys, fantastic cars.
If a 3 month old car breaks down isn't that covered by the warranty?
Now that was my thought
I was thinking the same thing. If it's covered under warranty, just drive the lemon to the dealership and get them to give you a loaner car while they repair it. Rinse and repeat. I don't understand how they sold her on getting a new one and taking $17,000 in losses. Unbelievable.
I've heard Canada doesn't have lemon laws
Maybe the first car was used
@@carpo719 Canada does have lemon laws. I took Ford to arbitration over a lemon almost 20 years ago.
The less you own, the more you have.
Except when it come to money. It seems nowadays the less money you have the more expensive life gets.
Then all those kids in Africa must have more stuff than they know what to do with!
I payed cash for everything I own. Its a humble life but I'm grateful for everything I worked for. Not all of us get to be rich. But having no debt is rare for the working class nowadays.
Gopinath Muruti
You are Perfectly CORRECT
That makes no sense. If you own it you have it. Hence the more you own the more you have.
OMVIC is a joke. I have personal experience dealing with them when a dealership was trying to screw me over. Good thing i had the sense to back out. Its sad that a lot of consumers spend minimal amounts of time researching online and then walk into a dealership thinking they're getting a good deal. Do as much research as possible, if you think you did enough - do some more the next day. Watch RUclips videos, read blogs, visit all sorts of websites and never ever make your feelings obvious about the car in front of the sales person - if they know you're falling in love with it, they got you.
Mohammed Jaffer here in Alberta, AMVIC is possibly worse. In fact, I think all VIC are (probably) a joke.
Again, Motor Vehicle Industry Councils are NOT government regulators. They are supposed to be industry self regulators... I think we know how that works, right?
Thank you CBC. I wish we had you or an organization like you here in the US.
Before i bought a new car. I spent 5 months researching and asking questions. Visited 9 dealerships. I knew fully what i was getting myself into before doing it. I partly blame the individuals too for not educating themselves
100%
Not sure I agree with that, most trust the system and then this happens.
Personally I went to around 12 dealerships and walked out of a few before I ended up with my previous car, the biggest issue is that people don't understand you can just walk away, too many impulse buy and these dealers exploit the situation to set it up like that.
I could even say my purchase was impulse as I made an offer about 10 minutes after driving and inspecting it, before it was even cleaned up as just got on the lot, just that I saw two others at a higher price at other dealers, checked second hand market, and then offered second hand market + 10% for the car (since where I lived the consumer protection act would kick in, and things like parts failing within 3 months that could be checked by the dealership that would likely fail in that time require the dealership to carry the cost, easier route for recourse).
What was interesting is that insurance valued my car at 10% more than I paid for it in the case of an accident/write-off, which I thought funny.
@@Masterrunescapeer trusting the system without doing your research is in itself a failure on their part. You have to know what you're signing before you sign it. Trusting a business that inevitably is trying to make money off of you is foolish.
Bought my first hyundai I bought to Uber in, and it's the last hyundai I'll ever buy. 2012 Hyundai Elantra Limited, and it's having electrical issues similar to what most people have complained about over the last 5 years. I'm going to fix it up and trade it in for a toyota, brand new. Don't mind paying $30k for a Toyota that I know will work better for a Hyundai.
The greed at most dealerships is unbelievably Mind Blowing. Having been a salesman 👨💼 for years I had to quit because they were ripping me off on top of the customers. They don’t care you will be replaced. It’s really sad but my advice when shopping is to only compare true prices and finance charges. Watch out and question every fee! If it sounds wrong believe me it is! Question everything if you don’t get an answer that makes sense keep asking! When trading in a car DONT! Sell it privately and start fresh on new loan. If you have to trade it make the deal on the new car first and know exactly what you are paying for that car! Never finance more than 5 years! When making a deal don’t let them focus on monthly payments!!!!!! Deal for the cost of vehicles [ONLY]. If you have bad credit [fix it] if you can - first. If things sound shady they are! I things sound fishy they are! Trust your gut with this huge decision and never fall in luv with the vehicle until you have done the paperwork and correctly paid for the total reasonable price! Buying a car is no different than buying a watch! If it’s a good deal than it’s the right deal. If you have any questions please DM and I will only give you the truth. Thanks
Thanks for the info...
It’s not their job to do your research.
HYDRA DYNAMIC have you considered with your experience, making a living helping those who are buying so they don’t get ripped off? There are people I’ve seen on FB who were formerly salesman that do help others by going with them to buy, or give information to assist them. I would pay. It would be well worth it.
Hey man I was thinking my car in for a new one I’ve paid over two years on this one and owe roughly 18k on it. If I were to trade it in would my goal be to get as close to the payoff as possible? Then finance the new one?
@@Disasterpiece5150 2 years can shave off 30% or more on your cars current trade in value. Dealerships also give you the lowest possible trade in price. And also... here's a tip, NEVER buy new cars, new cars will have many problems and other mechanical problems. Get the older models instead. Just scroll through the comment section for extra tips, because they're very helpful if you read carefully.
As long as you can pay it off anytime, whats the problem with a longer loan? As long as the interest rate remains the same, you will have more flexibility. If you can afford a 30k car, it’s better to have a longer period so that you can pay it off earlier while having more flexibility in your money flow. The advice should be always look at the total price, not the amount of the bi-weekly payment when buying a car.
As a person part in a battery and tyre industry, you should also check what size and what kind of battery does the car has. When the time comes that you will need a replacement, people get shock how battery and tyre costs. This also applies to available auto parts for your car
1. Brand new car (not used)
2. Baby on the way
3. Working two low-paying jobs
=
She's just not too bright
And a "poor single mother" no doubt. Should have spent all that money on birth control instead and taken the bus
@wade wilson she said that in the video? I don't remember. Not that it matters...$5 to $8K a year isn't that much money, and doesn't necessarily put her in a stable financial situation
And the baby daddy nowhere in sight.
You forgot she's buying a 🏠 house
nothing wrong with being not too bright, what get on my nerves are supercilious twat who trolls on unfortunate people
That Mazda sales guy was excellent. More sales people should be like him.
He is at Yorkdale Dufferin Mazda. He is the Used Car Manager. I bought few cars from him.
IDrive wait until the crooked Manger finds put about him, he won't have a job after.
When it comes to your money, no one is your friend. Everybody wants your money and does not have your best interests.
When it doesn't come to politics I find CBC very informative an impartial.
and pieces like this are over dramatized
@@williamhaynes7089 like you
Can't agree more!
People say don’t buy used cars, don’t buy off Craigslist you’re get scammed, the car won’t be reliable. I’ve never been “scammed” of Craigslist and even if I did get scammed it’s still better then going into debt.
Eyacub12 skits worst thing G that's ever happened to me off a Craigslist car is a blown engine 3 weeks after buying. Guess what? I spent 500 getting it repaired (would've been less if I did it myself but that's too much time). That's less than the monthly payment on my mom's brand new civic (my car is a 94 civic hatch manual trans with a D16 swap)
SHE WANTS TO BUY A HOUSE TOO LMAO. SHE CANT AFFORD HER PAYMENTS AND SHE WANTS TO TAKE OUT A MORTGAGE?!!?!?!
Lodestar they are sharks and plant seeds.
Mortgage would be much cheaper than rent. Sooooooooo she would be saving money monthly. also wouldn't be throwing it away on rent anymore but no one would approve her. Her life is over. if she takes out anymore debt it should be student loans with the hope of being able to make more money
And she's prego. That's another debt.
@@DanielMendoza-po8oy its Canada health care is different but most definitely out of pocket cost raising it
It's like 300k in 18years. What's the bi weekly on that? 😂
It’s been three years since airing... she STILL owes on that first car. Insane.