2024 CASH BUYER NEGOTIATIONS AT CAR DEALERSHIPS ROLE PLAY
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- Опубликовано: 26 сен 2024
- CAR BUYER WITH CASH? IN 2024? FIRST THING... DON'T SAY I'M PAYING CASH! Watch the Dave Ramsey Show. He'll tell you that you SHOULD PAY CASH for your next car. Great advice, just don't tell the dealership that up front! Why? They WANT you to have a Car Loan! Watch THG's BEST CAR BUYING NEGOTIATOR: ELIZABETH is on this show!
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With Titles like 11 Fake Fees, to Don't Say I'm Paying Cash at Car dealerships, and Car Shortage Crisis, and Car Dealer Says Bring the Car Back!... The Homework Guy Team publishes videos to help Car Buyers. Then we added Cash Buyer Negotiations, and Held Hostage at a Car Dealership, No Haggle One Price Car Dealerships, How Much do Used Car Dealers Pay for Cars?, 10 Things You Should Not Say to Car dealerships, and the Costco Auto Program. We hit all the topics, and we represent Car Buyers, a goal that’s often in direct conflict with Car Dealer goals.
A CAR DEALER WANTS TO:
1. SELL every car for the Highest Possible Price.
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THE HOMEWORK GUY TEAM (THG) HELPS CAR BUYERS TO:
1. BUY a Car from Dealers or Private Party Sellers at the Lowest Price.
2. PAY Cash or Finance with their own Bank or Credit Union.
3. DECLINE Dealer Fees and Finance Products.
4. TRADE / SELL their current vehicle for the Best Value.
For more than 40 years, dealerships have EARNED their lowly reputation by being the masters of predatory selling. Dealers stalk victims relentlessly, often ruthlessly treating the most vulnerable car buyers (like seniors, for example) with little or no conscience. Car Dealers and their Finance Officers have no problem creating financial devastation for their customers We point out the traps and the flaws of the process, and help car buyers get by all the nonsense without being ripped off. We promote fairness, honesty, and transparency, and we’d love to see a few dealers join our mission!
The Homework Guy Team provides car buying consumers with information, automotive news and updates, industry outlook, buying and selling advice, and other help to level the tables. The public face of THG is Kevin Hunter and the master negotiator, Amazing Elizabeth. Tons of time and research goes into every show, with several projects always on the table, all with the goal of getting it exactly right. From Automotive News Updates to vehicle shopping advice and assistance, The Homework Guy Team is the best there is.
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ELIZABETH IS THG's TOUGHEST NEGOTIATOR! To help you polish your Cash Deal Negotiations, we created a text outline of Elizabeth's masterful negotiations with both the Salesman, and the Finance Officer. We hope this outline helps you learn the art of negotiation the way she does it:
We join Elizabeth while she is out on the showroom floor, having just tried out a new truck she likes:
Salesman: Okay, so that narrows it down to the Ford F-150. It’s a great choice.
Elizabeth: Yes, I think so too, and I like trucks!
Salesman: Ok. So how do you plan to pay?
Elizabeth: How do I plan to pay? We haven’t even negotiated the price yet.
Salesman: We’ll do that, don’t worry. But we need to know how you plan to pay so we can get started.
Elizabeth: That doesn’t make any sense. I never talk about payment options until two things are in place. First, do you have a vehicle I want to buy? We covered that base, and I like the truck. Secondly, is it a price I’m willing to pay? We haven’t established that yet… so there’s no reason for me to give consideration to my payment options when I don’t even know if I’m going to buy your vehicle. It’s pointless.
Salesman: We’ve always done it this way… it’s kind of our policy. I get in trouble with my boss if I don’t know how you’re paying.
Elizabeth: Your boss wants the cart in front of the horse, and that’s wrong. I get that’s important to you guys, but today, you have the wrong customer here for that. If you don’t have a vehicle I want, at a price I’m willing to pay, talking about payment is pointless. You and I both know it.
She pauses…
Elizabeth: Look. I’ll be interested in what the finance office has to say… but ONLY after we negotiate the price of the truck, and that’s assuming you come up with a final price I’m willing to pay. When I agree to the price, and I have it all in writing in front of me, that’s when I talk about finance.
Salesman: I know but…
Elizabeth: I’m not a fan of mysteries. When the final price is on paper, and I have it in my hand, I might decide to buy it… and if I do, then I’ll talk to your finance office about payment. I don’t discuss finances out on the showroom floor, and I’m not about to fill out forms regarding financing until I’m sitting in a confidential office, with a finance officer. If the dealership doesn’t respect my right to my own data privacy, I’m happy to take my business elsewhere.
Salesman: Ok. Come on back…
Negotiation of Price Happens. A Price Liz is willing to pay.
Finance Manager: Come on in, Elizabeth. Ben tells me you’re getting a Ford F-150. Great choice! That’s one of my favorite trucks, too!
Elizabeth: Thank you.
Finance Manager: Alright, so I understand you have your finance options open with regard to finance, so I’ve put together a few recommendations I have based on what most of our customers do. If you have any questions, feel free to interrupt and ask at any point.
Elizabeth: I’m going to start with an interruption because I’d like to begin at a different point. I have the price of the truck here from Ben. Before I came to the dealership, I was in contact with the local DMV office about Tax, Title, and License Fees. I’d like you to look up the total state fees with taxes on this vehicle, and give me that total.
Finance Manager: Well, we’ll definitely get to that. I think it’s a good idea that we make sure your investment is protected first.
Elizabeth: That’s exactly the path I’m on. Protecting my investments. So, I’d like to start with tax, title, and license fees for the truck.
Finance Manager: Let’s see. Taxes are about $2,400. Title and License fees around $600.
Elizabeth: Those are estimates. I would like the exact numbers… like the information I’d get if I called the DMV office myself.
Finance Manager: Well, these are very close.
Elizabeth: Not close enough. I’d like the exact numbers.
Finance Manager: Okay, tax is…… let’s see: $2,305.03. Title and license fees…. Are going to be… $481.26
Elizabeth: See the benefit of an exact number? That’s $94.97 less in taxes, and $118.74 less in state fees. That’s $213.71 that’s still in my pocket.
Finance Manager: (laughs) Ok. Let’s move on to my recommendations.
Elizabeth: Not yet. I’ve totaled the price of the truck $33,650, the tax $2,305.03, and the title and license fees of $481.26, for a grand total of….. $36,436.29. Check it yourself.
Finance Manager: Your math checks out with me. That's correct.
Elizabeth: Thank you. Now, I’m assuming you want a document fee. Every dealer does, even if you’re already being paid to register my vehicle with the state.
Finance Manager: How am I being already being paid?
Elizabeth: That's the reason you have a retail price, and not a private party price. It's one of the services you provide is the registration of the vehicle with the state. I could stop by the DMV office on my way home and do it in 15 minutes if this is either expensive or difficult for you to do. I’ll add in $75, just to be nice, if you’re going to click the couple of keys it takes to notify the state that this vehicle is changing ownership.
Finance Manager: I can’t charge you less than a $599 document fee, because that’s what we charge all of our customers.
Elizabeth: Yes, other customers aren’t aware they are paying twice for the same thing. I am, and I’m only giving you $75… just to be nice, like I said.
Finance Manager: There are state laws that prevent us from doing that. We have to charge everyone the same.
Elizabeth: I knew you’d say that, so what I'm going to do, I’m going to reduce my offer on the truck from $33,650 to $33,126… since your fee is $524 more than I’m willing to pay. This allows you to show your $599 document fee on the contract, but I’m still only paying you $75… because I took the excess fee amount of $524 out of the truck.
Finance Manager: I can’t just do that. Your offer is a bit unreasonable.
Elizabeth: Let’s not kid ourselves here. You knew the moment your salesman told you I wasn’t giving you payment information before negotiating the truck price, that I was a lot more on the ball than your normal car buyer.
Finance Manager: Sighs.
Elizabeth: This isn’t my first rodeo. You’re the finance manager. You change the numbers all the time to make up deals you want. You and I both know that a $599 document fee is a profit padder for the dealership. I’ve already agreed to the price on the truck. I’m not going to let you round it up $599 just because you want to get paid more.
Finance Manager: I’m going to change the numbers, but I have to say I’m getting myself into a little bit of trouble doing this.
Elizabeth: Well, it's nothing you’re not capable of handling. Alright, time is running short, so let’s keep moving. My new total is at…. $36,475.39. Everything.
Finance Manager: Right.
Elizabeth: Ok. I’m going to write you a check for $20,475.39 to leave the balance of $16,000.
Finance Manger: Ok, and that portion you're considering financing?
Elizabeth: Sure, I’d consider financing the $16,000 that's left, but that depends what interest rate you come up with.
Finance Manager: What's the term you're looking for?
Elizabeth: 24 Months. What's your best shot at 24 months?
Finance Manager: Fill this out, and I’ll do my best…
Scribbles out the minimum information on the form….
Elizabeth: That’s enough information for you.
Finance Manager: Ok...
She picks up Phone.. waiting….
Finance Manager: Ok, there we go… 2.49% at 24 months. Puts you at $684.10 a month. 24 months, just like you asked.
Elizabeth: Ok. 2.49. I actually already have 1.9% from my own bank, so I think I’ll just have pass on it. If you'll just ... I’ll just write the check for the remaining balance, how about that, and we can be done with this. I gotta go!
She writes out the check… hands it to him
Elizabeth: Alright... It’s been nice doing business with you. I’ll be sure to refer you to my family and friends!
Finance Manager: Are they all as tough as you?
Elizabeth: (Laughs) Plan on it. We watch The Homework Guy videos!
Hope you really enjoyed this video! Doesn't Elizabeth ROCK?!!
Hey Kevin, we definitely need to see her negotiate price. What do you do when a dealer won't budge on the price of the vehicle? I feel like walking away is the answer here... haha
I don’t need a new car, but I almost feel like shopping for one now to try this out
I'm watching this 3 months after it posted. Awesome!
❔ Have you since posted the video where Elizabeth negotiates the price?💗
Ok
What if we get to the end and have bad credit?
how about a live example at an actual dealership with a hidden camera or at least an audio recorder? this is gold
Add a 007 earpiece with lawyer in ear for the den of thieves..
You dont need to do it live with uncover camera to teach the theory and basic strategy.
@@timotb1 You kinda do, because this is scripted to make Elizabeth win, and both she and the "finance manager" are acting and following the script. Do it live to see how she handles it in real life - the same way we would be.
@@pargolf3158 I would like to see it live in action also. They all have different tactics & things they say to get the most out of you.
@@pargolf3158facts.
As a former car salesman of 6 years i'd like to provide my input on this video:
From a salesperson's perspective, Elizabeth is clearly an educated buyer, which is an immediate light bulb for any sales person. In this particular scenario, when the sales person asks "how do you plan to pay for the vehicle" he's effectively asking "how should I structure the deal? should i start getting your credit to set up a payment structure, or just get right into negotiating the price of the vehicle?". Effectively at this point, it doesn't really make much of a difference whether or not you say you're paying cash, because she says exactly the right thing thereafter "i'm only interested in the vehicle if it's a price I think is acceptable" . Everything beyond that will just be felt as hostility and you're being a difficult to work with customer. Albeit it shows you're there to grind, which is a good thing! However i have to somewhat disagree with the idea you shouldn't tell them you're buying cash. At that point in the sales process it doesn't really matter, most sales people are just trying to ask "how should i structure this deal for you".
Also, when she says (paraphrased) "i'm not talking about the payment on the car until we have a price im satisfied with" is EXTREMELY STRONG and is exactly what you should say regardless of how you intend to pay for the vehicle. Extremely strong negotiation tactic, and is what every single buyer should say and should do. Great job there, Elizabeth. That exact verbiage is the reason why i mentioned it doesn't really matter if you say you're paying cash, because the dealership knows you're there to grind regardless and kind of acts as a guard against the price gouging you mentioned early in the video.
When you said "I think it's smart to make sure your investment is protected first" i actually laughed out loud. That's exactly what finance managers say. Well done by you there. Doc fees are another thing, sometimes Dealerships CANNOT remove their doc fee for one reason or the other, but I agree 100000000% you shouldn't pay for it. A lot of time managers will catch serious heat by removing the doc fee and i've seen managers get threatened lose their job for removing it one too many times. Taking it off the truck was the PERFECT move. Great job again Elizabeth.
I do want to also tack on to your video , you may want to consider financing some amount of the vehicle if you happen to qualify for any incentives. IE if they're giving out a veterans/current military incentive or something of that nature, often you have to finance at least a portion of the vehicle to take advantage of that offer.
Overall a well executed how-to guide. Liz is very strong and clearly a very shrewd negotiator.
I've used this tactic very successfully for myself and family. The shame of it is though, that you've got to attend the circus in the first place.
Will stated sir
I like the way she said she does not discuss private matters like finances on the show room floor. She only wants to discuss private things in a private, confidential office.
Boom! Exactly. Dealers can't push you to have such conversations during the sales process no matter how much they want to, and the point Elizabeth makes is without a doubt one of the best ever made on the subject. "Are you trying to deny by right to data privacy?" Awww, it's a classic!
I hope also people noticed that she was polite while being firm. You don't have to be mean or come in with an attitude. Just be assertive and polite. Everyone deserves to be treated with respect.
ALWAYS print the ad before you visit the dealer. And save a pdf to your computer. And email the pdf to yourself.
Can't wait to see her negotiating on both NEW and USED car deals
Especially with the used ones are ultra expensive right now
@@jaredpatterson1701 Hi! Do you know if a video has been made yet showing Elizabeth negotiate deals on new and used cars? Thx!
More role playing, more Elizabeth, and yes to the price negotiation video, please!
Great video! Having sold cars at a few shady dealers for a total of 10 months 20 years ago, a friend approached me about doing a cash deal at a dealership. Told her straight up to not say a peep about payment method until face to face with the finance person. Refuse all extras, negotiate the doc fee, all of it. And if she didn't like the way she was treated, walk away. Used cars are a dime a dozen in a big city. After the price was negotiated and the car reserved, she came back with a cashiers check... and was told to come back the next day because they weren't ready for a straight cash deal that particular day, LOL. I presume to make her mad and kill the deal. She went back the next day with the same check, and drove home happy. Fairly certain that dealer doesn't want her coming back. ;)
Kevin, I've been researching vehicles, watching youtube videos on how to buy a new car, the best ways to handle car sales people and their finance leeches since April. Was going to pull the trigger on a purchase at the end of June but because of the "chip shortage" I'm waiting until next year. Out of the several channels that show consumers how to survive the dealership gauntlet, your channel has shown itself to be the best in explaining, showing examples, and your roll playing in educating me to save the most money when the time comes to buying my new car. I'm in my late 60s and this will probably be the last vehicle I'll buy, and I just want to say "thank you" for your work, and 'thank you" to your staff in their helping/teaching me how to better handle myself when the time comes. I love to negotiate, to the point that my wife refuses to sit with me when we've bought vehicles in the past, but you have taught me SO MUCH more. I have a feeling I'm really going to enjoy my next purchase.
Great advice, but most of the dealers where I live won't get that far and will instead choose not to deal with you. They don't care if you walk because they're doing well enough with people who play their games and they know fi they start dealing your way, the word will get out. Letting you walk and losing a sale is just another cost of doing business for them.
The only place in the country that I have lived where I have not observed this to be the case , was in the Northeast US in the tri-state area of NY. There seems to be so much competition there and the buyers are so savvy, that once a dealer figures out you're not playing, they will give in quickly to get the sale done and move on. Everywhere else I have lived - Midwest and Southeast, they seem willing to lose the sale to avoid changing tactics.
I'm in the market now and if I can't find the deal I want here in FL (which isn't looking good right now) , I am going to call one of the dealers I used in the past in NJ when I lived there and buy the car I want sight unseen and have it shipped or fly up and drive it back.
So great video, but if Elizabeth lived where I live, she'd be doing this deal via email and phone with a dealer 1000 miles away after being treated like crap by a local dealer who would probably waste a bunch of her time before telling her it's not going to happen her way .... :)
Cash buyer Option #2 worked for me.
I wrote the check for what I wanted to pay. Put it on the desk, Then told them that was it,
After 2 hours they met my out the door price. And still replaced the seat cover because of a cigarette burn.
I DEFINITELY want to see her price negotiations!!!
Yes Kevin. The negotiation of the price of a new vehicle would be appreciated.
Yes, please.
Yes, Please, I would like to see Elizabeth negotiate the Price of the Vehicle and Trade in
I love this video. Bought a car nine days ago and after the out-the-door price was set I paid a large down payment and financed a 3 year loan at good market interest rates to keep my credit file fresh. Worked so well that when I was with their finance officer they had already crossed off all the BS add-ons so they could meet the agreed price. #TheHomeworkGuy
I am currently trying to buy a used vehicle and this video has really helped me feel more confident that I may be able to pull off a decent deal. I appreciate seeing a woman showing she will not be walked over. great job to your whole team. thank you.
I got a 2017 escape, with preparation determination for the transaction. I indicated very little as to payment and how,
and other questions to elicit information to aid their cause. There was the approach for kbb range, low to high. I took
off like $1500 off their asking price, and "compromised" the price. An error from me, I did not start my price at lowest
kbb range. The sense that I overpaid by at least 10%. The amount was reduced by saying no to add ons, and the matter
of payment by cash was handled after price negotiated. Your information helped too.Thanks.
Kevin.....the role play with Elizabeth is approx. 8 minutes of pure GOLD!! Thank you. I can't wait to apply this and the other tips and techniques I've received from watching your videos when I buy my next car in a few months.
So basically get the price down to where your comfortable listen to their finance plan get it written out then tell them you wanna pay cash…that’s awesome
Let's see an Elizabeth car price negotiation :)
Excellent video Kevin! Elizabeth totally crushed the deal!
Question: Do you already have a video that addresses buying a new vehicle for cash (employing techniques spelled out so well here) in addition to having a trade in? I feel like the dealer would just slide everything they DIDN'T make on the new vehicle sale into the trade in deal... which might mean I'd end up paying them to take it off my hands, considering how sleazy ones jack up prices if you mention cash too soon. 😯 Thanks again.... Best, Matt
Was in CarMax yesterday, was worried about this exact issue, as I had a very old car as a trade-in. They gave me "cash" for the trade-in, told me what they would pay for the car before we ever discussed the used car I was buying. Then, when I decided on the used car I wanted, they simply deducted the amount from the cost of the new/used car. I didn't finance a dime. That's the way things should happen, in my mind.
Did you ever get an answer? I'm facing the same dilemma
Nice. I actually laughed out loud when I read "finance officer is forced into a straight up car deal" Thats funny.
I've actually told a dealer that I dont care if the paperwork says I paid $5 for the car with a $30,000 doc fee. What I write the check for is all I care about.
I can't wait to see her negotiate both new and used car prices. I'd like to see where she obtains the information to determine a good deal.
I was JUST going to write to you about paying cash.
In your video you said, 'you may have a question that may have been covered in a previous video".
So I went and looked at your library and found exactly what I was looking for! 🥰
I wanted to let you know that the simple visuals you have on the whiteboard, really helps! They're simple and only cover major points. Whoever does your writing is very accomplished and pleasing to listen to.
You're changing all 'dumb blondes' into adroit patrons!
Beautifully stated, Blue Eyes! For the record, I have a great team that helps me produce the end product. A lot of credit goes a number of ways. As far as writing goes... I do 90% of it or more. I like the messages to be clear, on point, easy to understand. I'm glad you find it enjoyable. Thank you!
Some dealerships will either redo the deal (increase the price) or cancel it altogether if you decide to finance with your own bank or credit union that offers a lower interest rate.
I was in purchasing for a living. I was impressed that I learned some new tactics that were specifically used against Financial Mgrs.
The best video on buying a car with cash , period.
Elizabeth is the real deal.
I have a sneaking suspicion that "Elizabeth" is actually Mrs. Homework Guy. In any case SHE rocks (as does Kevin)!
Just went and checked out a f150 for $5000 and walked out after the test drive the hi and low in 4 wheel loud popping noise, rear passenger door didnt open, had dings and rust so after knocking the price down from out the door $6000 to out the door $5000 mind you $4000 truck $240 taxes and $699 doc fees I walked on my way out salesman says all we have in the truck is $3800 up $200 from my original offer of $3600 left me knowing they have less than $1800 in the vehicle. So I walked on out with my money I want to thank you for showing me what to look for and the homework I needed to do before going and how to avoid their traps I never sit down and was standing by the door the whole time watching them sweat was fun
What would happen if you said, “I’m not going to pay you anything for the dock fee. I’ll register my vehicle myself”
On a new car, they'll tell you it's impossible to register it yourself. It's technically not, but it's not worth the trouble. Just have them register it, they don't charge extra. The DOC fee is not what that's for though, the registration is paid for by the tax, tag/license, and title fee, which is 100% non negotiable. If you're buying a used car from a dealer, they will waive the DMV fee if you insist on registering it yourself, but have fun at the DMV when you could have paid them nothing extra to do it and you can just pick it up from them later or they'll even mail everything to you.
@@clover7359 - Thanx 👍🏽
This has to be one of the best examples of car buying I've seen to date.
Ok, Kevin good role play, this is obviously You and with a person working with you, not an actual deal. Good training and tips video.
Another tip for cash payers, inquire about financing incentives. I was
purchasing new BMW convertibles every couple of years and it wasn't
until a couple ago, when I had a new salesperson, that I was informed
about BMWs financing incentives. The lowest has been $2,500 and this
last car it was $5,000, when combined with a BMW finance loyalty rebate.
So, not only do I save on the price of the car, as a "friend and
family" discount, save thousands of dollars in taxes by trading in my
current car, but then I finance $7,500.00 and get a $5,000 rebate then
pay the loan off on my first payment. And, by financing a set amount, they can't throw in other fees into the financing, if you're a savvy buyer.
I'm new to your channel and currently saving up for my dream car. These negotiation strategies are pure gold! By the way, I inquired about a car online last week only to find the Carfax report and actual odometer mileage didn't match. When I questioned the dealer he said they mistakenly posted the wrong VIN on their website. Now the car is no longer available on their webpage... 😏
Now all I have to do is find a car for the exact price and play this video for them in the financial office. Thanks 🙏🏽 can’t forget to bring my own pen!!
Kevin I'm a cash buyer, and now I'm a much more educated cash buyer for my next purchase! Yes Elisabeth is a savage on negotiations!!! I would thoroughly enjoy seeing her in action again! I will be sharing this video for sure! Thanks Frank from Georgia.
Thanks, Frank! Viewers helping us get the word out is much appreciated! If you have friends in Florida, this is a video that crowd desperately needs to see. Florida has some of the worst dealers in the country (probably there to take advantage of a largely senior population). Their fees are horrendous, the game playing is off the hook... they need to be exposed and dealt with by tough car buyers like Elizabeth. Watch the video several times. It will give you confidence to do it yourself!
For years, I have been the go-to guy for family and friends purchasing, trading, and selling cars. I thoroughly enjoy “the process” and getting the best deal. I have learned so much from Kevin and this video introduced some new strategies for me. As Kevin says; do your homework, set your limits upfront, know the process, and be willing to walk away at “anytime” before signing the contract/check.
I am about to buy a car and this info is priceless. Only wish I can borrow Elizabeth for the negotiation. Seriously, I learned more in this 18 min. video than all the advise a received over the years.
I don’t have any of my car investments that I purchased in my 20s, especially that 1994 Ford Escort. Best video for car buyers.
You guys ROCK! Everything she said they were gonna say happened qnd everything she tells us to say worked!! Thank ypu
thanks for your feedback! Much appreciated!
You are AWESOME! Also, I need to buy a car and I want to bring Elizabeth with me !! She's great !! I'm so intimidated to enter a dealership because English is my second language and I know these vulturescan wrap me around with their bs. But im gonna have to practice and watch this video several times. Wish me luck !!
Hey guys, you guys doing a great job with these videos. I'm 57 years old and I have purchased maybe 10 to 11 cars in my life. I got better through the years but this information is vital. Keep the videos coming!
Elizabeth Rocks!!! Let’s see her negotiating skills....thanks Kevin and the team!!!
She was great! I had someone like her when I bought a Toyota locally.
Please have her show more! I think I'm on the right track, but need to gain confidence. I've even thought of going to dealerships who's products I have entirely no interest in to hone my skills.
I wish we would have found you earlier love your videos, we went through the same thing this past Friday we live in Hollywood Florida. We went to Fort Lauderdale Nissan found the vehicle nissan centra for 19600.00 when we said at the end of the deal that we would pay cash it went up to 26 we left the dealer without the car very disappointed. He said the deal was only good if we would finance. It was all B.S. And they were also charging us for stuff that was done at the factory that should have been in the total price. We are both in the medical field it's been a rough road with kovic and all,, we didn't need this .
Yes I want to see elizabeth in negotiating a car price w/ the salesman before getting into the F&I office!
Damn! The wording is on point. I’m about to look at a used f150 and the role play is exactly what I need to see. Thanks Hunter and Elisabeth.
Did you get the f150 for a good deal?
Thanks, Elizabeth! I will watch this again and again and again!
My neighbor who retired from the business after 44 years as a sales manger was my negotiator. It was my intent to only buy one vehicle but after watching her work 3 different salesman (closer?) at the dealership and finally the finance manager I walked away more then satisfied with my deals on the two vehicles I ended up buying. Prior to taking my neighbor into the dealership I asked her to look at my original deal and she said that she could do better then that, so much so that I ended up purchasing two vehicles one for me and one for my wife. Turns out she didn't want anything from us although I offered to pay her for her time. I suspect that besides being a great neighbor she just enjoyed doing it. I can't tell you how much I enjoyed watching her. Not intimidated at all.
It's great to have that experience along, isn't it?
Toyo Car Dealers in Texas have played every flag mentioned and I knew it! I couldn't clearly speak "car sales and financing language" in a way that wouldn't attract privacy violation and abuse. I am utterly disappointed by the lack of transparency. "Bait and switch sales" are illegal." They get away with bad faith and unfair business practices repeatedly. I didn't use liability language and instead walked out. I need a duo for good cop and bad cop to encourage a serious modification to poor business practices. Do you have comments regarding "Auto Buying Programs" such as the one COSTCO promotes?
I really wish Costco was better than it is. It kind of died during the pandemic because no dealer needed to sell a car through a discount program. It's possible it could be more effective now, just don't count on it.
Yes, I’m very interested in watching Elizabeth negotiate the price!
I always use cash reward credit card to charge as much as the dealer allow it. Saved extra reward $😂
I went to a dealership that was hideous. They kept me there for hours. I was there even after they were closed! I kept asking, "how much is the car?" And they never answered the question! I was sent to the finance guy &still didn't know the price. Thry had 5 papers for me to sign. I was so exhausted I couldn't think straight. I signed the first two pages. Then I stopped and said no. I made them tear the papers up. I got up and waited at the door for someone to unlock it and let me out. I felt like a hostage and finally came to my senses.
That's sketchy! What on earth. Sounds like a criminal operation lol
Awesome, love these videos. Yes, please do car negotiations. My daughter is buying a car next month. I have her watching your videos.
About 90% of the time if you do this to a stealership manager or salesperson it will end up with you walking out the door. They might call you back. But it will be a who can puff their chest out farther kind of confrontation... They don't like to be one upped so to speak and will often sacrifice the deal just to see you leave. I have done this... They want to be the toughest on the play ground...
I’ve done getting the price before financing, but not the fees. I love that! Awesome!
Ive watched several of your videos and I must say they are absolutely the best I've seen on negotiation. You're fabulous and have excellent delivery!
I took out a loan for a different reason than maintaining a credit score.
There was a rebate for using the dealership for the loan. $1000 off the vehicle.
I had the finance officer find three things in the contracts before I agreed - 1. minimum amount, 2. how long did I have to keep the loan active, 3. no prepayment penalties.
result: $1000 minus about $200 in interest = $800 in my pocket!
I used a no negotiation quoted price deal and went through the fleet sales office - no upsell, no added fees, no slime when shaking hands. I probably could have saved a few bucks if I spent many hours and burned many gallons of gas playing the standard sales game - not worth it.
I was a prime candidate for upselling - I was getting a Ford F-150 longbed w/ towing package - - NO other add-ons. My truck even has manual windows.
My first truck was that way. Everything manual. The absolutely least amount of stuff to break or wear out. On a '97 Tacoma.
We LOVE the reinactments. Thank you so much Mr. Homework guy. You are absolutely stunning when it comes to car deals.
Thanks so much!
I was giddy watching that roll play scene. I've purchased many vehicles in my life and I think I'm pretty good at negotiating, but I feel like a sucker after watching her. I will definitely bookmark this video for when I buy my next vehicle in a couple years.
Ive done what "Elizabeth" suggested to a few dealers in the past and they usually all say hit the road. They say with the rise of the internet and Internet sales that they price there vehicles competively already. Is this true? and typical?
This is the one thing that hasn't been covered on this channel yet. But when I spoke to my friend who works in car sales he told me that if they send you away after the negotiations and you told them you are paying cash, you can complain and tell them you will write a bad google review. Most dealerships actually have a section on their websites that is something along the lines of "Meet Our Team" or "Our Staff" and it lists the names and pictures of all staff and management. You can save the photo and tell them you will attach it to a google review and tell people to avoid them, that will be enough to make them shutup and just take the hit.
But this is if things get very VERY heated and the finance and staff are refusing your offer after all the confirmed negotiations you did and telling you it's not possible. You'd definitely be justified in writing a review on them and they would 100% know it aswell.
This is just my take on it though, I'd be interested to see if Kevin Hunter makes a video on this situation because it seems like a lot of people have been experiencing this and there isn't any info yet about this final situation that is now occurring in finance offices now that dealerships have caught on to smart consumers.
Bold face lie. Just look at new cars on autotrader and the wild swing in prices for the exact same car. I've gone as far as Long Island, NY(I'm from Florida) to purchase a vehicle and got a square deal in a notoriously difficult environment. Find the dealer willing to sell and convince them you're a buyer.
Never forget that nothing is magic words that force the dealership to do what you want every time. Some will just refuse to go along and give you what you want. Push back, but if they don't give anything, move on. Never make any one dealership your only option. If you can't handle the "No deal" option a trained negotiator will sense it and keep digging in, maybe giving pennies instead of hundreds of dollars.
@@InsaneDrummer99 Ruining someone's career because you didn't get the price you want? Thats pretty low
@@TheSandman121212 It's not the price I want, it's the price that it originally should be without the markup that they do. Some people will sit back and say nothing about all this greed and inflation that occurs and some people will fight back, I'm one of those people who has a backbone and the knowledge to realize what's going on in the car business isn't right and needs to be dealt with. That includes starting with the people that enable this type of behaviour of scamming and robbing people of their money, setting them up for insanely bad finance agreements that put them in debt and throwing in all these fees right before a buyer wants to purchase. These people are no different than scammers who call you from India and try to take your money, the only difference is these people do it with a smile on their face, a dress shirt, and a excuse that we actually all fall for. Change needs to occur and I'm glad people like Kevin Hunter are making informative videos.
I have been a "lay down" customer, no more, no more. God Bless Elizabeth.
If you enjoyed this video, the link I've included here is a recent interview with Elizabeth. She always gets smoking hot car deals, and she walks you through that whole process. I think you'll love her techniques! ruclips.net/video/8hWyaHlRqUA/видео.html
I need to watch this a few more times, before I buy.
When in the finance office, and you’re paying cash. And they asked her about seeing what interest they could get her and she filled out the paper, did she actually put her social?? Because she said “that’s all the info you need”. Why would she want her credit run by her bank, then again by the dealer...
This brought a smile on my face. I want her to help me buy my next car.
If you were there to witness how Elizabeth operates, you don't want to be sipping a coke during that time. You'll snort it out your nose when she has you on the floor laughing. She is something else. If you've ever studied personality types... Elizabeth is a "High D" on the DISC profile. Totally task oriented, goes right from start to finish on a car deal in total control. The poor lot guys never knew what hit them... lol.
I am curious, what was the "minimal info" they needed to check for an interest rate?
I need this woman to go with me to the dealership as my negotiator. I am a bit timid in dealing with car people. Would like to see how she negotiates car prices. Kevin, here in Las Vegas they laugh at you if you say I will only pay $70 for the doc fee. As I see it from your videos, the key is to have your calculated OTD price. Then you can tell them that they had agreed on the price and it is up to them to find a way to include their doc fee on the paperwork by reworking their number. Great channel. Thank you.
I always ask for the price first. If they respond by asking, "How are you going to pay for it?" I know there will be no deal and move on.
Can you do a video on gas vs electric automobiles.
You will pay more paying cash than financing until payoff penalties expire. As a veteran salesperson, go in and negotiate an unrealistic payment. We make $300-$400 on average on the car, $1000-$2000 on average from the financing, and then Warranties and add ins are minimum profits. Always screenshot advertised prices. When talking on the phone I tell everyone to screenshot or print it. Some of your stuff is accurate but most of it is exaggerated and untrue. Respect the grind though.
Been wanting to buy a car cash looking for a Corolla hatch back but I’m trying to train my self with theses videos I actually called a dealer for info of the car and said I was paying cash and they called me back right away the next day that was before watching the homework guy now I kinda understanding a bit Elizabeth rocks she got a hood deal and straight to the point still doing some research for my car thanks for the help
I love how she is so firm!
Kevin, a co worker of mine went through a bankruptcy 6month ago. With the stimulus payment he has a sizable down payment for a car.
1) Since he has financing through his bank, should he use the bankruptcy as an introduction with the salesman? Let him know that he would be interested in hearing the finance office offer without commuting?
2) And how much affective Ness does he have buying a used car this way versus a new. I’m sure used cars have less of a negotiating window.
Put up a few community polls and engagement posts. Drive that RUclips algorithm your way.
Yes!
Almost verbatim my conversation on purchasing my new truck. It did unfortunately take near six hours and 2 hours past closing. The dealership owner brought hot dogs.
The last new car I bought was a Ford Taurus and I bought it in the month of December (that is where the best deals are, unsold current year models) . Ford Motor Credit was offering a $2k rebate if you financed through them - I have bought many new cars from Ford and have financed them through FMC. I have good experience with Ford products and they seem to always offer the best deals. This was a SEL leather seats and totally loaded less a navigation system. This car's sticker was 34K, got a 6K dealer discount, a 3K customer loyalty rebate and a 2K rebate to finance through FMC which ended up being 23k before taxes and license fees. I also looked at a Toyota Avalon, but the best price for comparable options was just over $36K. Now I did not tell the dealer that I was planning on paying off the car in March from a year end bonus (which would be paid sometime in March). I did agree to a $250 doc fee and received a quote of 5.75% for financing. I know they added at least 2% to my buy-rate but I did not negioate on rate (knowing it would be paid off within 90 days). Now I do not think think I would have gotten this good of a deal if I told them I was going to pay off the loan in less than 90 days - almost a cash buyer. My strategy in buying a new car is to beat down the dealer on everything except rate. That way they think they have made nice profit on the financing. I keep a respecable cash reserve, so shortly after financing a car I payoff the loan and of course I decline all the extras. I make monthly payments to my cash reserve until I have replaced the amount I used to payoff the loan. It is much easier to beat them at their own game then try to bust their chops haggeling over the deal. I would NEVER, EVER let a car dealer know I had cash or the ability to pay cash in the negiotations. This is how I pay cash for a car/truck.
Always get pre approved by your own credit union.
I tried these techniques at several dealers and got sent packing. The reality is it's good to know how to deal and stand firm, but there's no law that says they have to sell a car to you that they know they can sell to someone else for a larger profit
the only part I disagree with is letting the dealership find loans for you. Get your own financing lined up and walk in guns blazing.
Yes please show her negotiating down the price! Thank you!
That's needlessly confrontational. All you need to say is that you haven't decided yet. That you'll decide that when you get an agreeable OTD price.
When I started looking for my last car, I told my wife that when we got to the dealer, we were going to play good cop, bad cop on them. I told her whatever they say, you aren't happy and I'll have to talk you into it. 8 months later, when we were actually buying the car, she remembered. She complained until we got another 3 grand off the "best price they could do". We got that car for 9 grand under MSRP and laughed all the way home.
*Never say you're paying cash up front!*
Get a great deal on the price first - including finance, then surprise them that you're going to pay cash instead of finance.
To each their own
@Cff Champ Lol I would walk away if they told me they don't accept cash.
I seriously have not heard one good reason why not. More importantly, the whole paying in cash is a dumb argument, since it is all cash at the end of the day to the dealership. It doesn't matter what medium you pay for the vehicle, the dealership gets the cash. yes, yes, well the dealership can't add on things associate with financing. Yeah, so what? The dealership is still in the business of selling cars. They can still attempt to convince you you need x protection package, or widget add on this even though you are paying in "cash". Is the dealership gonna avoid you like the plague and not sell you a car because you said you are gonna write a check? No. Someone provide any actual data which shows that dealerships reject to sell someone a car because they said they are going to pay cash up front. They will still try to entice you with financing offers. That's what I've seen. I've always had them say well you can get x rebate if you finance, then just pay off after 90 days and that is the same thing, but you get the rebate. So, if they are worth their sales salt they will still try. Seriously, it's a ridiculous argument.
@@hanwagu9967 I agree with you completely. I never finance, always write a check or pay cash, after the price is set.
Definitely show her negotiating the car price! Timing is awesome.
Hi Kevin. Enjoying your channel. I'm definitely a cash buyer for the rest of my life. What are your thoughts on negotiating the 'Out the door' price (which would include TT&L/Doc fee) on the showroom floor, versus the style in this video of negotiating the sale price on the showroom floor, and then negotiating the TT&L and doc fees in finance? I'm always trying to improve my negotiation style with each transaction, and videos like these definitely help build my skill. Thanks!
I would love to see Elizabeth negotiate a used car price. I am currently in the market for one. Prices are way too high right now in April 2021.
Outstanding info !!!!!!!!!!!!!!!!!!!
this guy should have his own radio show like Art Bell used to have and talk about UFO's and other strange things he has that voice for it!
Yes , I’d like to see her negotiate car prices !
We have a show featuring Elizabeth negotiating a car deal very soon.
Before watching this...I'll say that my MO is to NOT ANSWER the salesman when he asks "how will you be paying" or any other finance question except to say "well I guess I'll talk to your guy to see what he can do IF there's a car I actually want", so as to allow them to think I might go with their $hitty financing....EDIT; OK...can I just have Elizabeth just buy my next vehicle for me?
Elizabeth is really good (and all the team by the way). Her secret is being firm... and to know the laws well. Without knowing the laws well, it's difficult or even impossible to do it. Thanks. Out of curiosity, can one enter a dealer with his own negociator?
Would like to see the big E negotiate the price as well!!
Elizabeth is the Bomb 💣❤️🔥❤️🔥❤️🔥❤️🔥🥰
Excellent!
I look forward to raising the blood pressure of the car salesman and finance manager when I negotiate using these great tips 😛😝
This is the BEST video I have watched! She IS THE BOSS!!! ❤❤❤
The truth of the matter is that most dealers will not allow you the opportunity to negotiate. They'll tell you point blank that they have listed their best price and they have a no haggle policy and that their fees are set and will let you walk away without even negotiating!
That was true for a long time. But now, dealers are begging for people to show up. Inventories are going up and foot traffic is slowing down. Time and more financial pain will only improve this.
Good job Elisabeth...