7 Car Dealership Rip Offs You Should NEVER Pay For!
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- Опубликовано: 22 май 2024
- In this video I show you exactly what car dealership rip offs, fees, products, and services to NEVER pay for when buying a car!
This video WILL save you money.
There are legitimate fees that are incurred during a car buying process. I highlight those 3 in the beginning of this video.
The remainder of the video is here to help you avoid the ones that ARE NOT worth it.
Be sure to watch to the end of the video where I go over the Bill of Sale!
7 Car Dealership Rip Offs
1. The Documentation Fee
Ah the beloved car dealership doc fee / processing fee. This one is a huge pain in the butt for consumers because we don't feel like it's justified most of the time.
2. Delivery Fees (Not the Destination Charge)
This is different than the Destination Charge. Make sure this doesn't come up twice.
3. Advertising Charges
This is simply a cost of doing business and shouldn't be passed onto the customer!
4. Theft Deferral Products (The ineffective ones)
Don't pay $400 for VIN Etching, please.
5. Nitrogen Tire Fill Up
LOL!!!!
6. Additional Dealer Markup
This is just stupidity unless you are rich and can afford it.
7. Accessories & Cosmetic Upgrades
Biggest dealership ripoff out there.
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My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.
This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
I subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your adviser
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio
The adviser I'm in touch with is 'Jude Ryan Mcdonough' He works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me his strategy works hence my result. He provides entry and exit point for the securities I focus on.
Once at a dealership in Texas, we had agreed to a number that I had to write a check for to close the deal. The next day when we went back to pick up the car, as my wife was getting ready to write the check, the price had changed. I asked the salesman what was going on and he told me there was a "Texas Inventory Tax" and that was the difference. I told him it wasn't my inventory and not my tax and he should lose it or we're walking. It's amazing how fast that tax went away. Hold your ground and be ready to walk!!
nice
Your last sentence is the most important. Never get so emotionally attached to a car (and convey that to the salesperson), that you are not willing to walk away. Before going to any car lot, get NADA/KBB car values (use crash) from credit union/bank, have your financing in order, never discuss the “comfortable monthly payment”, and know what additional fees are required.
Texas Inventory Tax....so, you got a tit? lol
I was lucky. The guy I did business with told me it was $1,800. (Trust me. That fee was reasonable.) And when I made the check, all he did was ask for a few days to call my bank and make sure it was good. A week later, the car was mine for the price he asked for.
That inventory tax could have only been like 16 dollars. They should have never changed the price. Also you didn’t mention what the price difference was. It was an amount that all dealers have to pay and it was probably left out by accident or they didn’t know how much it was at the time. They didn’t try to get you. They cost themselves a slight loss and tried to recoup it later. That was their fault and lost and shouldn’t have mentioned it.
I bought a car this week and there were 2 fees that I fought that totaled over 400.00 (doc and ad fees). They tried everything from arguing to fear tactics but I stood my ground and they took them off the contract. Because they left me alone with the contract I looked up how they were overcharging me on state fees too, which they also reduced. Over 400.00 saved thanks to you Marco!! Thank you so much.
the dealer has to make some money you squid
By being dishonest sleazy mfers? Sir, gfy @@iTw1ns
I don’t know why dealers don’t understand that if they’re honest, they’re gonna get far more customers and referrals than if they tack on fees and drag you thru the mud.
Some do. But sadly, you have to hunt. I bought something for under $2,000. It was in an accident. And when I took it to be inspected, they said 'It's fine.' That was a year ago. I just had it inspected and it was fine again. In one year, all this car asked for was a new muffler. (I expect that.) So, I really have no right to complain about the dealer I bought from. :)
@chief tp lmao. well said.
@chief tp The alternative is Tesla, no dealer, buy direct from the manufacturer, knowing that if you see another Tesla owner out there with the same vehicle you have, they paid the same price you did. You won't have to wonder if you were a sucker that paid more than somebody else
They don't care they only care about quantities over quality
I HATE DEALERS!!!!!!!!!!
I've walked out on several dealers.. There's always ONE dealer that wants the sale on YOUR terms.
Good advice!! 👊
I'd suggest that no, you can't exactly count on having even one dealer locally who is above-board on the transaction. I've come close, when purchasing a new vehicle, but still, every single dealer I've dealt with has tried - and sometimes succeeded - in pulling *something* devious (and the deviousness often continues in their service department).
@@kenhoward3512 never ASSUME.. I have had just the opposite effect.
That's a good deal but like me I can't afford a new car but even when I did they still trick me so what I do I buy used cars from people or auction house cut out the dealer a used car dealer is almost as bad or worse than a new car dealer I will never buy from a car dealership new or used
this is correct, people get hung up on buying vehicles close to them, they never check around......it is same vehicle and pricing can change drastically.....ive driven to Arizona from LA cuz the price was so much better
Wow just bought a car last week and almost bought the paint protection and interior protection for $1,989😲
The salesman was trying to sell it so aggressively that it made me not want it.
Thanks for the video Marko.
Thank you for your comment I will refer you to my trade analyst +...9...7.. 1...5...5... 7...9...8...9...4...0....3
Bro they tried to get me to pay $3000 for the paint and protection smh
I’m in the process of buying a Bronco and the dealer is saying all new Broncos come with interior protection for $695! And it’s mandatory lol
Something to add. I've noticed that every time I buy a car, after I talk to the salesman and hash out the purchase terms they will put me on ice for like 90 minutes or so. They'll say that their busy or detailing the car, but they aren't. The reason they do this is because they know that you are excited. You're calling friends and family gushing about this great deal you got on a new car. Then you go to the finance officer and get ripped off because you're willing to agree to just about anything by then.
The last time to brought a car I think in 2010 i was at the dealer for about 3 hours. I went in with my money and they kept saying let me check this and that to get you a better deal. I will be buying a car this year ,and I will not stand for the same treatment this time. They sold me the service plan, but my neighbor said it was garbage and to cancel it.
Thank you for your comment I will refer you to my trade analyst +...9...7.. 1...5...5... 7...9...8...9...4...0....3✅✅
No dealership makes people wait on purpose that doesn't make any sense. Longer people wait the less money they tend to spend. They have to plug in all of your information into several different platforms and print out each separate document all while making sure its 100% correct. Also on top of that they have to get your loan approved and submit everything over to the bank to make sure they have an approval before you take the car.
@@patrickramage8615 Mkay Patrick. Try going to a dealership. They LOVE making you wait. They've even been known to have their desk phones spy on your conversation with your wife so they can manipulate you further. Please Patrick. Don't be naive. The most deceptive, manipulative people in the world are car salemen.
@@patrickramage8615 No they do make you wait that long. First-person experience as well reading like-minded individuals in the Reddit comments. Don't play lol
It’s sad that buyers are taken advantage of in so many ways,…too bad most dealerships lack integrity in their sales department.
You basically made a list of things that should be ILLEGAL to charge people for. Then we wouldn't have to deal with this crap from stealerships.
we bought a car in May. Before that I haven't bought a car from a dealership since 2006. Personally, I think things have improved but not by much. They still hit you with extended warranty bs and detailing charges. We were comfortable with the price and had our own financing set up prior. Just have to stay on alert at a dealership. Like Marko said at the end, just walk away if things don't feel right. You are under no obligation to pay anything until the contract is signed.
Thank you for your comment I will refer you to my trade analyst +...9...7.. 1...5...5... 7...9...8...9...4...0....3
I walked recently from two stealership deals when they refused to budge on their BS $799 and $899 dealer fee. Which they thru in after I had shook hands with the salesman on the deal. The managers where like whats the problem we charge everyone this. I'm like a deal is a deal, we shook hands on price X, now you want almost another grand I don't think so. I walked and found a better deal with no BS. Thanks for the videos Marko you are blowing up.
Spiral Design Works I’ve done the same. My dealer wanted to charge me some sort of end of lease charge after we agreed to an all in price. I’m glad I walked out, as I asked for a lower price on a slightly better optioned vehicle and they immediately accepted.
Spiral Design Works unfortunately, this happens all to often and that’s how dealerships lose trust .
Salesman don't talk prices anymore. Where you go, to a mom n pop dealership?
@seer Good one.
I've done that many times
Today I went to a dealership and the “electronic doc fee” was $1,198 & the tire/polish whatever stuff ANOTHER $1,200. Their random fees were CRAZY and the car added up $7,000 on top of the online price and he refused to negotiate. I walked out.
Eugene Rodriguez, you walked out --- absolutely no problem. Still, the problem is that your walking out means you planned to go to another local dealership. Assuming the new car you are looking to buy is Toyota only, and there are only 3 local Toyota dealerships, where would you go next if you walked out of each and every of the 3 local Toyota dealerships if/since they all charged the same items and wouldn't negotiate with you.
My car just got totaled, so I am in the process of buying a new car. That's why I am trying to pick up some tips here. I hope you share your insights, if any, into where you would go or what you would do after walking out of the last Toyota dealership. :-) Yeah, it's a dog-eat-dog society!
@@darkhorseinamerica1935 I think you're assuming too much. He wouldn't necessarily go to other dealerships in the same town, maybe to another city or out of state or choose another brand of car. One shoe size doesn't fit every foot.
That's cheap brah!!! I went in with my brother's nego skills... granbury tx shottenkirk...2019 wrangler online ad price was $42k... in office work they want $53k!!! On their higher in house financing despite my great credit score!!! We walked out.
@@darkhorseinamerica1935 where I live their are 3 Toyota places with all different prices on their website . 1st is 10k mark up 2nd is 3k and the third has no mark ups . Big difference 30 miles can do
GREAT INFO!!! Just bought a car YESTERDAY, using the tips here and in your other video about why not to tell the dealer you're coming with cash. These tips helped to get the SUV we wanted at about 3500 under MSRP (with a $2k trade-in). When we go at the end of the month and pay it all off, it's going to be SOOOO SWEEEEEET!!!
If cars were sold in WalMart or Amazon I would've bought it already. Concept of visiting a dealership stresses me out more than not having a car
You can on Amazon now
Wal mart does sale new cars
Billy do you live under a rock? Lol
@@flyguyry1 Give him a break. I have found many occasions that some folks do not know about every option available to them. i would never have thought to buy a car from Amazon or Walmart. Ignorance can be overcome by knowledge. We live and learn. Give Billy a break please. Now he knows.
@@FATillery i wasnt talking about walmart or amazon. I was talking about all the online places to buy a car like carvana.
I agree with a lot of what you say here. I have been a Sales Consultant for 4 years, and we have never charged a delivery fee, ad charges, theft devices, N2, or ADM. Yes we sell accesories, at the discretion of what the customer wants... but geez, you sure are making a lot of stores blush. I can go to sleep soundly knowing we don't rip people off like that.
Same! Customers come back because I don't lie to them... Omg and dealers who include rebates they don't qualify for and outright lie to customers tick me off! Then I have to explain to my customers why these dealers are lying and its embarrassing to us in the biz that are nice people
Tell me do dealerships charge a fee on their used vehicles for the service they had to do /repairs, etc.? This dealer today tacked on a $3995 service fee on a 2016 Honda that had a clean Carfax. I mean, what the hell repairs on a 4 year old vehicle cost that much?? And shouldn't that be in the price of the car? Not an additional fee?
@@maryzenkungfu You're right. I wouldn't do business with them.
I don’t know why car alarms are an extra fee that should be included with the car smh
Thanks for watching endeavor to write as soon for more enlightenment or tips w-h-a-t-s-a-p-p
+-9-7-1-5-5-7-9-8-9-4-0-3🔥🔥
Whenever I have bought a car I've known I am being ripped off, I just never knew on what. These videos are fantastic. I would actually pay someone like Marko $500 to go in there and do all the talking. Does such a service exist?
Yes, they are called auto brokers and you never even have to set foot in a dealer lot. They do all the negotiating for you. Broker fee was $200 and got an amazing $389/mo lease deal with $0 down on a 2018 Mercedes C300 which was delivered to my door. I'll never buy or lease another car any other way. It was so easy. Just look up auto brokers in your area and tell them what car/options you want want how much you want to pay. They'll find a dealer who will take that deal.
@@lisaphillips7100 I've never heard of this. Thanks!
Thank you for explaining what the wheel locks actually were, including the purpose of vin etching and how the “paint protection” is just smoke and mirrors. This was very helpful!
His genuine laugh at the ridiculousness of the nitrogen tire fill up is hilarious in it self.
I was thinking the exact same thing when I watched this. That laugh (from an industry insider) in and of itself was enough to convince me. I love it! LoL!
watch them charge a store entrance fee, lol
Sadly, nitrogen fill up actually helps given the structure of oxygen and nitrogen molecules. Bit tech: 760nm3/tn for N2 and 560nm3/tn for oxygen, basically nitrogen is lighter and has a molecule structure that does not seep out of the rubber tire structure. Oxygen tends to seep out a lot more than people realize, secondly reduced oxidation of tire wire mesh structure and lower weight, overall nitrogen fill up helps people who are on the road a lot more than average.
@@vivekbaronia just stop and fill up the air at gas station lol how lazy are you 299 for nitro
@@vivekbaronia yeah nitrogen fill up is actually legit, but really the only people who would ever benefit are those with high end sports cars who track them.
You should create a business where you go with people to the dealer and only you do the negotiating for them. Thanks for the videos
GREAT IDEA
I SURE WOULD PAY FOR THIS SERVICE
Its called being an auto broker and theyre going out of business because dealerships don't want to lose money on a car AND have to pay some loser who couldnt last in the car business (like the guy who made this video) a $500+ fee.
@@michaelhuebner6843 You have to understand though that the general consumer is not a car savvy guy. Yes, the webpage will provide the vehicle stock #, VIN, vehicle history, and pictures, but how does the consumer know that those pictures are recent? How do they know that the vehicle they see online that is in showroom condition will look like that when they arrive to see the vehicle? I've spoken to customers over the phone about vehicles they see online and they wanted to make sure the car was in said condition. One customer mentioned how the SUV he came in to see had a dent on one of the passenger doors, and paint peeling off. Another mentioned that the vehicle he saw had a few scratches on it. Also, the Internet price *doesn't* include everything, just the MSRP of the vehicle. That's why customers go on the defensive and some ask about OTD. This is why I think the general consumer unless you're car savvy, needs an expert. If it weren't for my friend who knows how to buy cars online, I'd probably be a victim of dealership fees and the "as is" clause.
Hmmm that’s called a broker and they already exist. Guess what by the time your done paying the broker you paid him most the money he saved you. Brokers are getting paid son😎
Alex Mejia the customer pays the broker not the dealership. They basically find all the similar cars in a radius and shop all the dealerships till they get the best price.
Wow... I literally Iam taking my notes with me when i go to buy my car... i cannot Thank You enough. I am a woman retired senior... they never look at me as an authority... i will do this with total confidence.🤩😇. Your my car buying angel.
Dude! It's nice to see someone calling out car dealers for shady charges. Once I walked out of a dealership, cause the salesman, and the finance guys said I have to let them run a credit check on me , BEFORE they tell me how much they want for the car. Unbelievable
Ticket to all cricket shiister car dealers used add new people are gonna stop by these cars from you guys you're always gonna have a fool that buy a car for you but the wise ones we won't do it I buy my used cars off of people that there already have a marketing for trying to buy knows cars you know that gimmick we buy any cars that's a lie to a friend of mine was gonna buy a car and they wanted to give her a check come to find out the check would have been fraudulent Shysters
It's like you can't trust a car dealer no matter what you do that's why it's best to buy from the people that are trying to sell it and the only reason they're selling their car is because they don't want to get ripped off by the used car dealer and they will rip them off so you people all over the land don't sell your car to we buy any car any of those gimmicks put it on craigslist in the newspaper and we'll buy it God bless you
Who else is busting out their bill of sale right now and seeing if they paid for any of these 😅
Octane Street - Apprentice Mechanic looking at mines right now,and I haven’t even purchased the car yet!
I don't even wanna look... I am sure they did
Oh I definitely got ripped off in the past that’s why I’m watching Marcos videos now to avoid some if not all the sellers sneaky tactics 😆
@@carlosmauricioespitia6016 🤣🤣🤣
Rockaway Bully I hope you did
Thank you Marko, I feel so much more prepared now going into a dealership. Love the "pride in ownership" comment toward the end.
Thank you for the video Marco it was extremely insightful,I appreciate you trying to help everyone get more knowledge on the car buying process,I wish I knew a lot of this stuff years ago,In the process of buying two more vehicles and I will definitely use your videos for help.
As a former Accountant and Stock Broker, I watched your video on strategies for the 2020 recession as a joke. It was actually very well done. I was very impressed by your knowlege. So I as a car nut, I watched this video and, again, you definitely know your stuff. I subscribed and look forward to watching more of your videos - Well Done Sir!
Thanks Charles please share with friends and family :)
@@WhiteBoardFinance that's debatable Charles Botefuhr. Seeing that he called it a Mahoney sticker and its monroney sticker. And there's a lot more wrong with things he said but that's a story for another day.
I didnt look at the other video. But as a car guy and having been in the industry most of these points are so over inflated and or just fully bullshit. It's the stuff that failed car salesman have told their friends so their friends dont think they failed.
@@terrencehobson2747 definitely a car dealership kiss ass. Appreciate the guy's effort in educating people. If you know more then share the knowledge. If not, then scroll to other videos. Dont discredit the guy in the video. You guys are better than that. Come on now.
Terrence Hobson yes it’s a monroney sticker
tell em you want the starbucks nitro cold brew in the wheels or no deal
David E 😂😂😂👏🏻
LMAO
😂😂 I'm sold with the Cold brew
That's ridiculous! We all know the nitro goes in the engine not the wheels, even from the Starbucks!
Good info. I worked in the auto industry for a few years and am refreshing my memory now as I get ready for a new purchase and it is seriously comical remembering all of these little fake fees. One thing to know though, and I say this because there is just so much distrust in the dealership industry, is that not EVERY dealer does this crap. Most do for sure, but there are plenty who are honest and don't jerk you around. Those are who you want to find and do business with. Spend a little extra time researching and save yourself the hassle and stress.
Those Folks in the Finance Department think their Customers are Stupid !
I will never forget the car dealer telling me about the non negotiable paint sealer protection program pitch.
No car leaves the lot without it..... I walked.
LOL I literally would have laughed in their face
I worked at the detail dept at Honda near my hometown. The paint and fab protection plan was like a $350 add on back then...literally was just a liquid wax applied with a sponge and wiped off within 10 min of application. The interior was just sprayed with the fab protector and the AC was put on full blast so it would dry in time for the customer to pick it up. Some techs were just nasty in their work that I felt bad for the paying customer.
The joke’s on the dealership!!!
I got that paint protection. I was 18 and dumb. I know now. I only buy used now. Your investment is better when you get a 3 year old car
I would have told him to go "F" himself, then walked....scams like this pop-up all the time, good for you.
That awkward moment when you try to buy a bottle of Coke at the 7-11 and they hit you with an ad charge to pay for Coke's Superbowl ad spot.
cloudbear don’t give them any ideas!
Yep, i hate that when that happens.
I direct all of my friends to this channel when they ask me how to save money on cars
The can of coke was free but now was hit with the dollar ad charge.
I mean, it's not like they're giving you a breakdown on all you're paying for with a coke. They still have to make profit.
I work at a dealership and most of the things you say is true. I hate how most dealerships do all the extra charges and shit but luckily my dealership only has the taxes and license fee and a doc fee
Terrific video. I got a version of number seven a few days ago. Went into look at a car and it already had floor mats in it to protect the original carpet. I didn’t give it a second look. I see the bill there is $480 for a “protection package“ which is floor mats for the front seat, rubber floor mat for the rear seat and cargo area very inexpensive splash guards, and a cover for the rear cargo area. I priced out all of this on Amazon and it was a little over $140 for me to buy the same stuff myself. When I asked the dealer about removing it he said “oh I can’t do that it’s already installed on the car.” I’m in negotiation now and he knows that I know his game, so we’ll see what happens. If it does not come stock from the factory, anything extra on the car should not be there and can be removed if you want to.
One thing I hate is seeing the dealerships name/sticker/logo on my rear window. I always ask them to remove any signs of their company name or pay me $100 per month for advertising their business.
Not sure how to navigate that one honestly especially in the current market. A lot of these vehicles are being allocated to the dealerships and are coming built from the factory with certain accessories. I’m dealing with the same issue right now. I’m looking at a truck and the few they can allocate have tonneau covers and mud flaps that I’d rather buy myself and not be factored into the total finance price of the vehicle. The dealership I’m working with said they can’t take it out but would at least be willing to split the cost of the accessories. Overall it will cost me $300 for accessories I’d eventually want anyways. Not a terrible deal overall.
I just got a car this weekend and one of the dealerships I went to was forcing me to pay for the nitrogen fee saying that it was a thing all dealerships had to charge. Ended up getting my car somewhere else where they didn't even mentioned such thing.
I stopped working at a dealership because my job was to sell the nitro and stupid security system. Top it off my gross would get washed out when I would sell it because the car was “losing gross” don’t ever buy a car at a dealership if they tell you that you have to pay the add ons.
LOL what a joke
Air is composed of 78% nitrogen, why would they have a charge for that?
My favorite was at a Kia dealership where they added $5,000 in "add-ons". When I asked for a car without the $5,000 add-ons, they gave me the "but its already installed when they come in and can't be removed." Funny how when I walked away, the $5,000 magically disappeared.
Reflective Pinstriping, required by our insurance sir. Already installed, $320. Of course we can remove it after the sale. $78. I shit not.
As a former salesman, the only things you need to cover outside of the vehicles price is tax, tags and titling/registration fees. Additionally don't fall for things like State Inspection fees over 125 for most states. Reconditioning fees are also a hidden profit for a dealership. Overall this is a fantastic video.
So would this include the destination charge as well since its being delivered from the plant to the dealership?
@@nicholassala5195 Destination is included in the MSRP. Most dealerships will try to say they removed it as part of the discount then add it back in later. Don't fall for it, you're being double charged
How about dealer prep fee
@@Jeff-wm3qn also a hidden profit
@@johnyoung9217 knew it thank you for the answer John!
This REALLY makes you anxious to buy a brand new car. It hurts just listening to your lecture. But thanks! It's really informative.
Thank you for your comment I will refer you to my trade analyst +...9...7.. 1...5...5... 7...9...8...9...4...0....3✅💰✅
One additional piece of advice: get EVERYTHING in writing and leave the dealership no wiggle room to add on fees and charges after the fact. It’s not uncommon to order a vehicle at a set price, wait for it to be delivered to the dealership, and then when you go to pick it up there are suddenly surprise charges and add-ons that you never agreed to. And, if they want to put their name on the vehicle (sticker / decal) tell them that they can pay you to advertise for them… $250 off the price.
Always negotiate to an “out the door” cost, and get it in writing from a manager before signing and handing over any deposit.
@@MS-it9vv I normally pay cash. True, it limits your options. But think about it. It means lower insurance rates, no payments, etc. And because it's old, you won't go nuts at the slightest bit of damage.
@@eternalhalloween1 Great advice 👍. They are charging me 399$ in dealers fees .It includes: administration/documentation fees, VIN etching, anti-theft products, cold weather packages or other fees.I am getting none of these things.Should I pay for the 399$?Thanks
One thing to keep in mind is that if you can play your cards right, you can essentially get the documentation fee eliminated in the form of a lower price. But this will depend on your bargaining skills. Most people don't think about this when negotiating a price. When I do negotiations, I look at the bottom line (not including tax, title and license fee, as those are required by law in any state, and you can't really get out of paying those). But say your doc fee is $100, if you know this before going to the dealership, you simply adjust your offers and bargaining to include this fee so you don't really pay for it, but again, some dealers will walk away from the deal (yes it does happen, they will simply tell you no and refuse to sell you the car if you're too unreasonable). In some cases, I've agreed to a $150 fee, but I've asked them to throw in some floor mats or some free oil changes a no additional costs (I've found some service requests, like 2 free oil changes, are easier to get because sometimes they can write it off, whereas free stuff like floor mats is harder to write off, and harder to get). A few actually preferred to give me free oil changes because it means I was coming back (but too bad for them, car needed nothing to be repaired as the oil chainges were within the first 2 years of ownership, which the car was under warranty anyway).
If someone presented me with a $800 doc fee, I'd just walk away. That's too much. The most I've ever seen (not paid, but just seen on paper) is $300 so far.
The one extra "charge" you should NEVER go for (or agree to buy) is protection packages or extended warranties. You can probably find one cheaper through your auto insurance company, and most do offer this, and you're likely to get a better deal (or even through something like AAA).
I don't negotiate. I ask a price, and if it's more than I want to pay, I leave. Inflating prices to "negotiate" is deceptive BS, and I don't buy anything from liars.
That is the Smart way to "Deal" with the "Dealers"@@do9138
Marco is exactly correct. Never pay upsales, services and fees, unless they are required under law (tax title and tag fees and state inspection fees).
I've become a convert to Marko. I'm an MBA with a career in financial and economic consulting. Marko has the ability to: (1) identify subjects that are important to people (like not getting ripped off by car dealers), (2) organize his thoughts, materials, and presentation sequence before he creates his videos (e.g., he has his calculations done before creating his videos), (3) create simple looking videos that are clutter free (as Steve Jobs said in a 1998 interview: "Simple can be harder than complex"), and (4) talk clearly and with a smile (e.g., he never utters the horrible "um" because he's already planned out his video). Thanks, Marko.
Very astute observation Ed :)
He said um. Lol but I learned a lot.
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Great video - thank you! This is so so helpful. Looking to purchase a new car and the whole process is exhausting because I feel like I can't trust the finance person, haha, and I don't know enough about all the fees to negotiate, but after watching this I feel a lot better!!! THANK YOU!
Thanks Marko. Great video. You are "Samaritan". I am in the middle of doing my homework before buying a new car next week. This helps me a lot in dealing with the dealership.
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This video and one other Marko did about how Car dealers rip you off using the 4 square method really helped me buy my daughter a car yesterday. I re-watched both before I left for the dealership and it helped a lot to equip me for the fight, LOL! They tried the "Doc Fee" scam with me and I said I wasn't paying it because they could pay for their own paper and printer ink, LOL. I basically took their itemized list of all the extra's that they said were required and lined threw them each with a pen in front of them and at each one I said "Im not paying for that"! At the end with the finance manager he tried to sell us an extended protection plan but he called each level of that protection as "insurance". It was an obvious attempt to trick me into buying a plan that I did not need, LOL. Now I know that the dealer made money and you never really get on over on them BUT I am convinced that Marco's videos prepared me and that I did save a few thousand dollars yesterday!
i am actually taking notes like I was in college. thank you, bro
Me too ! I almost bought a car 10,,00 over value
Yup! Me too.
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Text on wats'app
#7 is absolutely true. I remember i purchased a car and they called it "paint protection" that they said was "highly recommended due to acid rain and acidic properties of salting roads", i went to take a walk around the lot to think about it, there was a car getting waxed. I asked what they were doing... they said "someone bought paint protection package". I watched and after they were done waxing with some generic wax product I've never heard of, they threw the bottle in the garbage and walked inside. That was it. Thanks to the service department for proving the scam in front of me. I rejected the service immediately. As for the rest of the video, VERY informative!
Thanks please share!
Dude they told me the same ish. But added that we live by an airport and all the fumes and ish. I said Environmental package $879.00 and I can't see it. Call me on the days that this dealership installs the product. It was the cabana wax in the glove box. The guy was pissed. The gmc dealer just sold my guy the lug nuts and extra tpms sensors that was in the glove box. And etch a sketch windows. He still bought it...after I told him.
@@federal6616 That is absolutely bonkers! The private market will grow stronger and stronger with these scams in place. The main issue is that people don't go shop for their own car loan through their bank and are unaware you can just purchase private party and skip the scam line. However, in the private market, you need to have a keen eye and see through other peoples bullsh*t. To me though, this is no different than dealing with a car salesman
@@SirYenko_ I dunno about where you live but unless you have bad credit, if you need to finance a car, the dealer will always be a better rate. The banks where I live have a dealer network and offer anywhere from 4.99-7% for prime rates. If I walked into my local bank branch, that would be 7-9%. So depending on your situation there is still value in the dealership. Granted, not all dealerships are created equally and you have to know what you're getting into.
@@Vipersrule my own rate was 0.9% versus the dealership 1.5% the last time I was shopping. Though you are correct, credit and where you live play a contribution to your shopping experience
Great content Marko-- As Iam doing my research you have been very helpful. I have already walked away from one dealer trying to push the extra crap and I caught him in a lie.
I absolutely LOVE your videos, Marco! Keep up the great work!!
Glad you like them!
Marko and his followers (and Marko has probably mentioned this elsewhere)-- Don't get emotionally charged over a car. "OMG, I love this car" "This is my favorite color" "This is exactly what I have been looking for." If a sales person hears that, they know they pretty much have you hook, line, and sinker. Act as nonchalant as you can. THANKS MARKO, I AM SHOPPING THIS WEEK AND AM NOW PREPARED. TOM
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I had a dealer try to charge me $199 for a popular color fee.
yup
That's a new one. Assuming it literally was a popular color fee and not a specialty paint (2 stage / 3 stage) because the fee for multi-stage paint is about $200 give or take.
That’s most likely a legit fee. Go on the manufacturers site and do the “Build and Price.” If you see the fee attached to that colour, it’s legit. Not every fee is bs. Dealers tell the truth much much more than cynical youtubers would have you believe.
@@ShadowDog87 If it was on the manufacturers site then it would have been included in the sticker price, not a separate line item on the bill of sale. The reason the manufacturer includes those on some colors is its more expensive to paint that color (tri coat process etc) not because its "popular".
@@TonyM-zi9rq it was a used car.
Car deal for you:
MSRP: 23,000
Destination Fee: 900
Tax, Title, Registration: 1500
Doc Fee: 450
Dealership Ad Fee: 100
Dealership Construction Fee: 500
Dealership Utility Charge: 300
Girls in the Back Office: 400
Guys in the Back Office: 300
Transgender People in the Back Office: 500
Manager's Daughter's Preschool: 450
The Candies in the Lobby: 50
SICK XD
hahahahha
Monroneys in the back office
Transgender people in the back office🤣🤣🤣
Tell them you have a go fuck yourself fee, 15,000!
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
I just bought a new car. I sure wish I had you sitting next to me. They got me for widow etching (that had already been done) the Doc fee and Ad fee. They seemed so honest. I feel like such a sucker!!!
Don’t. Most dealers cannot waive the doc fee
🍭 that sucks.
@@khabbad But they can absorb it if pushed for the sale.
@@barryfowles-zl5ib It will always show up on your paper work. If you want them to absorb it, they will just continue to discount the car unless they are done discounting and don't wish to lose any more money.
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Love your videos, just found them a few days ago and you've already helped me save money
Marko I really appreciate your videos! Always good info and you're straight to the point!
I love your videos man! Great valuable info with some good laughs in the mix lol... keep it up my dude!
Regarding Point 7: I was quoted a payment, then asked if I could get one of the services for no increase in payment. Who would say no to that? They guy taps on his computer for a few seconds and announces that he got that service for no change in my payment. He then asks about another, then another, of those services and you wind up with all of them for no change in the payment. This happened the last two times I've bought a car. Luckily, I carefully read that LONG contract the F&I guy hands over. Looking closely, those services added nearly three grand to the price of the car! Why did it not change your payment? BECAUSE THE GUY QUOTED YOU A PAYMENT THAT ALREADY INCLUDED ALL THOSE SERVICES! Beware.
As I was reading your comment I was going to reply with what you said in all caps. Its already baked in.
Or they just bought down the rate
Going to a dealership tomorrow and glad I came across your video! I can't wait to "lay the hammer down". Wish me luck 🤞
Such great information. Thank you so much for this Marko. I wish I'd seen this last week before I purchased a used car, but good back pocket info for next time.
Marko, just FYI that living in higher altitudes (TN) pure nitrogen in car tires does make a difference. That is what they use nitrogen in aircraft tires as well because of how the gas expands/contracts in cold and warm climates. We typically see 5-10 psi difference from mornings to afternoons and during different seasons (depending on tire size). You can add regular air beyond the manufacturers rating (most people do this) for a vehicle but there is some draw backs for this. I really like all your videos. Thanks & great job!
I'm buying new car and stumbled across your videos. Thankyou!! I watched the 4square and this one...great info. Will def take these tips with me!😀
Thanks Nancy
This is so helpful, thank you so much!
“You have to be smooth.” I love this guy.
Watched the previous video and enjoyed it. This video got me to subscribe. Keep it up brother!
Thank you. Looking to purchase a car soon and these tips are super helpful! 🙏🏾
If I could like this many times, I would. Excellent excellent video. I’ve heard of most of these, but the nitrogen tire fill....that’s a new one. LOL.
Thanks Marko for the points and the laughter. I got a kick out of your presentation 😁
I saved a lot of money watching your videos, the dealer wanted to charge me $199 for the first aid kit, ridiculous, thank you for your videos!
Thanks for the tips! We went Friday to look at a Rav4 and they charged 1888 for nitrogen, new floor mats, tint and something else. I was like stop the bus, you're crazy!?! We politely left after that.
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Yooooo great advice and simple to understand thanks I’ll be watching these a few times before going to get my car
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Good stuff Marco! I have shared this with my sister and used all the information personally.
Great video thank you ! Very appreciated.
i was taking notes and listening!! thank you so much!!! 👍👍👍
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We need a guy like him to represent us at the dealer like a lawyer in court. Lol
Or like an accountant. Point by point, wearing them down.
Great show, thanks
Thank you for this video!!! I feel a ton better concerning the deal I just got. Wished I would've watched this video a few weeks ago. Thank you!!!
That “Shield” paint protection is my favorite. 2k additional. 😂
Very helpful, especially the info about the Doc fee. I see dealers charging up to $900 for this. Thanks to you, I know how to handle this when I get ready to buy my next car.
I work at a dealer. You can look up online what the fees are for your state ahead of time so you're prepared 😊 especially if you are buying out of state, always look it up online or call your local DMV
Thanks, Marko for all the fine tips you gave us
Glad you like them!
Hey Marco! Great videos! Can you do a video on the lease-to-own (electronics, furniture etc) break downs?
When I bought my current car I researched extended warranties and found one for 7 years 100,000 for $1300. The dealership tried selling me a warranty for $2700 wasnt even for that length of time. I told him about the warranty I found and he said that was a great price and he took the company's info down to maybe carry their warranties. I think it was a crock tbh
Not all warranties are created equally. You might find a $1300 warranty from an aftermarket manufacturer that isn't worth the paper it's printed on. That $2,700 warranty could have been excellent coverage compared to the $1,300 one you found on your own. I'm not saying the $1,300 one you found is worthless, but all warranties are NOT created equal.
@@Vipersrule I did my research and negotiated it down to $1300 and it had no deductible. It was from a reputable company that had gotten great reviews everywhere online. So I get what you're saying but I'm not one to waste money and not know what I'm buying. I'm currently looking for a car and I've been at it for about 3 months.
You can buy from a Major Insurance company!! Much better than the dealership crap!!😂😂
@@twdrositao8259 what company was it?
20 years ago my cousin used to work for a small body shop where they were applying undercoating for new Volvos. The body shop was getting $50.00 per car and the dealer will charge the new owners $500.00
Ever but a beer or get a bottle of wine at a restaurant?
Or jewellery.... 800-1200% mark-up....It's called Capitalism.
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Thankyou Marko - I'm currently negotiating with a few dealers and this video really helped me fight for a fair price. The last Toyota dealer I was dealing with wanted to get me on 5k+ off the MSRP on rip off charges almost exactly as you described! I really can't thankyou enough. I will tell everyone I can about this video if they are looking for a car!
Love your video lots of great info what about holdover fees
History tell us that every time Marko Laughs, he remembers his time at the dealership selling this bs fees to costumers lol.
Thanks for the video! 💯🙌🏻
Great info and videos man. Love the white board. Btw, it's a Moroney sticker not Monhoney. Thought I'd share that with you.
Keep these going. Thanks for saving us from getting screwed.
Thank you so much for your time. That’s very helpful
I watched this before car shopping and you saved me $3500! I'll recommend this video to anyone
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The best thing is to make the warranty payments to yourself instead of letting them sell you an extended warranty. If something breaks, you have the money to fix it. If not, it's yours to keep 👍
Great advice! The car is likely to break down toward the end of the financing rather than the beginning, and the beginning years are all that's often being covered.
correct
I've read, and believe, that an extended warranty is nothing more than an insurance policy and as such can be denied at a dealers whim.
That sounds like a good idea but we all know you won't put that money aside. Warranties are good depending on the make of the vehicle i.e. mini Cooper.. Dodge.. Chrysler.. you'll get your money's worth owning some makes for sure.. also gotta read through and get warranty in writing which a good dealership should do.
That's true Mike. But if you're buying a poorly made car, that's your first problem.
Thank you for your sharing your expertise.
Thank you for this information! I'm currently looking for a new vehicle and I have written down all the information you shared!!
I love the when to negotiate tip! Thanks Marco
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I think there's a bit simpler approach. Figure out exactly what you're willing to pay for the the car you want (include rebate and incentive money), not including TTL and sales tax. Give that number to the dealer and tell them so long as the bottom line number on the sales contract comes out to that amount (again before TTL and sales tax) you're good to go. That way, the dealership can massage the individual numbers however they choose, but the bottom line number is set. This approach obviously depends strictly on your knowledge, so if you don't have that knowledge, this approach should not be attempted.
You keep saying “TTL and tax”.. what do you think the first “T” stands for?
Just came from two Dodge Dealerships in Florida who claim they put nitrogen in the tires and fabric protection and paint protection and it is all one price $1995 fee for used vehicles and $2995 fee for new cars and they claim its non negotiable ! Thanks for your video !
2 years later and this is so informative. Love it
Great channel! Thank you.
Thanks Govind!
Great information to know, thanks Marko. Best way to avoid these fees? Buy pre-owned from a private party. In some states private-party sales are also tax-free.
100%
Great video. Thanks mate.
Super helpful Marko!
Thank you for this information to know
Marko, this is a great video. Luckily I didn't pay for those when I bought my car. My wife is going to get one and I will watch this again before we go. I have noticed that dealers don't want to negotiate prices any more. Then when you tell them you have your own financing they really don't want to negotiate anything.
Because dealers dont get paid on finance back end if you do not finance with them.. they are more prone to discount the car a little if they can make a little off the financing, if you outside finance, thay bank is profiting, not the dealer so they wont loose money on the car deal
@@Gngrcrew no shit
@@AkshayKumar-ue1fp no shit
Nice video Marco... I love this so much! 😀
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Thanks for the tips. God bless you.