How NOT to Negotiate a Car Deal. 5 things to NEVER do!
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- Опубликовано: 26 фев 2023
- In this video, we'll be discussing five bad negotiating tips that you should avoid when purchasing a car. Negotiating can be a daunting task, but it's an essential part of the car-buying process. However, there are some techniques that can do more harm than good.
Experience hassle-free car shopping with Chevy Dude, the owner, and operator of Mike's Car Store.
As a popular car-buying advocate and RUclipsr, @ChevyDude knows how to make the car-buying process enjoyable.
Visit our website, Mikescarstore.com, to browse our current inventory, or give us a call or text at 812-940-6453. Remember, buying a car doesn't have to suck™!" 
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I don’t negotiate at the grocery store because they don’t have hidden prices and bogus fees.
I just recently went to purchase a 2023 Silverado. As an Oreilly employee I get a 10% discount on new GM vehicles. Once I mentioned that and asked them to input that into the system, they took off the 7k in discounts they were already advetising. With the 7k and my discount of 5k that took 12k off the 49K stickler price putting it at 37k. but once they removed their discounts it put it back to 44k and payments were out of the range I was looking for. So I walked. Got a call a few days later and they offered to include the discount. I now have a 2023 Silverado.
Huh!!?? I have never heard of a 10% flat rate discount off of a new GM purchase for a Auto Parts Store employee. That’s almost equal to or better than a GM Employee price.
Do you have to be a full time employee at O’Reilly to get this? Lol
I have had luck twice getting my trucks @ about 20-23% off msrp this was before COVID this was my old bankers tip.
An OReilly employee with a 37K truck? Something doesn't sound right
@@TheIronChainMaster Why does it not sound right?
“You’ve got to know your true credit score, and all the places you’ll look are wrong.” Yet doesn’t tell you how to get your true FICO score. Priceless!
because the finance person can make up any score he or she wants to make up and tell you the Experian, TransUnion and Expedia scores are all wrong but his source is the only one that is correct. His source is whatever number he pulls out of his butt to get you into a higher interest loan and boost his profit and commission. I like this guy as much as any other car channel, but at the end of the day, he is a used car salesman.
The dumbest part about this whole thing is that consumers are expected to be top tier negotiators to not get ripped off by dealerships. I hope they shut dealerships down and we move to direct to consumer.
100% agree
Oh yes ofcource, let's roll down odometers, sell cut in half cars and have nobody be liable for anything.
This presenter behaves and talks just like local car salesman, LOL
I’m 100% with you. I need a truck to pull my boat. If not for that i would buy Model Y and never subject myself to the triple extortions this Mike is talking about.
Just tried to buy a Highlander new. Toyota dealers still marking vehicles up with “market adjustments”. I asked the sales guy if the dealership would consider selling at MSRP. I’m a returning customer. He basically insulted me and told me I don’t understand the market (despite degrees in business and economics). So I told him I was still looking at a Subaru Ascent with no markup (and actually a few $K under MSRP). He didn’t care but said he’d “talk to his manager and email me”. In front of him, I asked my wife if she wanted a Subaru and we left. 5 hours later I drove my new Subaru home and awaited his email, which I received today telling me there was no way they’d go under the market adjustment “because Toyotas are in such high demand.” I thanked him for pushing me into my new Subaru and told him it’s a disgrace Toyota would put customers who paid that markup into a position years later to be so upside down they may not afford their next ride without major sacrifice. Gullible people keep Toyota going, but they’ll run out of suckers one of these days. I will never return and that dealer has angered many customers by how they treat them. This was the last chance with me. Part of getting a car is making sure you get a fair deal. Farewell, Toyota.
You're right Mike, I don't negotiate at the grocery store (4:40). However, the grocery store has items clearly marked and everyone buying that loaf of bread or gallon of milk at that store pays the same exact price and the cashier doesn't then add on extra fees at the time of check out. If car buying was like buying any other product then it would truly be more enjoyable. Price, fees, and taxes need to be clearly marked and every customer who buys that model from that dealership pays the exact same price. The haggling is a pain in the butt and then once the price is negotiated, the up sell in finance and the added fees just make buying a car about as enjoyable as a colonoscopy. Heck, at least the colonoscopy I'm asleep during the procedure. Buying a car is closer to getting a colonoscopy without any lube while you're wide awake. Maybe even a little less enjoyable than the awake colonoscopy.
Yea he was totally dumb for saying this and trying to compare those. I usually like his videos but this made me lose a little respect for him
😭😭😂😂😂
1 tip to rule them all: DO NOT BE AFRAID TO WALK if you're not happy or feeling pressured. once you leave the stealership the chances of you returning are almost zilch and they know it. The worst that happens is you've wasted your time.
“Get financing and pay it off in 3 to 6 months if it gets you a better deal”. You can pay it off right away, never have to wait. Dealerships tell you that to avoid charge backs
Does this always work? Or are there financing contracts that don’t let you pay it off right away?
Careful. They might front-load the loan with all the interest.
When negotiating price, I always negotiate the OUT THE DOOR price. I let them know my tax rate where I live and say this is the price I will pay to walk out with the vehicle. Takes 100% of their power to add fees or any other BS. If they ask about what payment I would be comfortable with, I say I am just worried about the final price. If they push, I let them know I understand how to use a calculator and don't disucss payment amounts.
All that said, I prefer buying private party on used cars and not giving the dealer their markup. For new, if there is a super-high volume dealer for the brand you want, go with that. I found one when buying my truck and they were 4k less than the next best deal and I contacted a LOT of dealerships. The price they listed is the price you pay, they don't haggle. Had to fly out and drive almost 500 miles home, but I'm willing to burn a full Saturday to save 4k. I've also never seen a dealership so busy in my life and it was by far the most pleasant buying experience I've ever had at a dealer.
I always shop the OTD (out the door) price too. My best friends father works in sales at an automotive superstore and he told me they're (the salesman) are not allowed to give OTD price and to just steer the customer towards their monthly payment. No wonder dealers have the reputation they do, they deserve it!
May I ask who's this dealer if you don't mind I am in market for a car I live in Erie pa
Dang. Sounds like the same discussion I had with 2 dealers this past weekend.
yup, when they ask me what want my payments to be, I tell them I want to work the OTD price, that the payments will reflect that. mind you, I already know how much the payments would be since I did my homework, so I know if im getting a fair deal, and amazing one or they're trying to take advantage of me
Hahahaha. My word. This video is perfect example of why people hate dealerships. Arrogant.
Arrogant and Fast Talking====Walking
Agreed, here is your nightmare car sales man
Hello Mike. Looking at this video the first time. I am a 40 year automotive sales veteran and am just now finding all these videos. So far you are the best I have seen so far ! Keep on making sense.......
I found a car I liked at a dealership that started "no haggle pricing." Truth be told, the car was well priced and one of those gems you couldn't pass up. One owner, very clean, pile of service records, driven to church on Sunday by a little old man. The car even had the badge on the grill saying it was his 7th car. Nevertheless, I tried to push the salesman to lower the price, but kept getting the "no haggle" policy. I decided to buy it. When I got to the F&I guy, I told him I have a policy of my own. Since there's no negotiations on the lot, there's no negotiations here. He told me the bank needs me to buy a warrenty to get the loan. I said, "well, Navy Federal didn't require one." His face dropped as I pulled out the check. I looked him in the eye and said, Navy Federal offers me 3.99%, can you beat that? He was offing me 8.9% with an 820 credit score. I walked out of the dealership with 20% down, financed throught Navy Federal and paid upfront taxes, title, registration, and doc fee. I'd never seen an F&I guy so pissed. He went from being my best friend to not even looking me in the eye as I signed the papers.
Cool that’s karma striking back.
Loving your story bro. You nailed the F&I guy on his face😂. If I'm not mistaken if the F&I guy told you that "the bank requires you to buy warranty to get the loan" I believe that's called in legal terms "Tie Selling" and that's illegal. Of course, you were smart enough to have your own Financing through Credit Union.
You said you pay taxes, fees, registration upfront? Meaning you paid that separately from your own loan?
@MrNayo305 Yes, I come to the dealership with 2 checks. The one from the credit union and my own. I like to put at least 20% down to offset the need for gap insurance. With my check, I also pay directly to the dealership, my taxes, title, registration, and fees. I don't want to pay interest on those things, so I don't include them in the loan. So a 30k car will be 32,500 after all the taxes, title, fees, etc. I would put down 20% on the car itself plus 2500, so I'm only financing 24k, well below depreciation.
@@michaelruffalo5875Great knowledge and thanks!
3:27
I’m so glad I found your channel I knew quite a bit but I’ve learned even more watching some of your videos you have a way of explaining that connects
Just left a dealership yesterday, one that ive bought cars from before. I watched your videos to brush up on this stuff. Contacted my banks. Rates are high and even higher as i buy older cars. But i had a rate going into the dealer. Worked the deal, let them try to beat that rate and wasnt even close. Then they completely lowballed my trade, exactly what i thought they would do. I decided it wasnt worth the hassle, and ill keep up my search for what im looking for. Long story short, thanks for doing the videos. Has saved me a couple times now from a lot of unnecessary costs.
Make sure you don't have an early prepayment penalty!
I've always heard you work on a final price before you let them look at your trade in. Seeing your trade in before you negotiate price gives them an upper hand starting the negotiations
Facts! I’m a corvette guy but older corvette guys typically over estimate what there cars are worth.🙄
I totally agree with what you’re talking about.
Very good tips. I used the research angle on my latest purchase of a 2012 VW Passat SEL TDI. With the research (CarFax, Quotes, like model pricing) to negotiate a great deal. We were able to meet in the middle and got a great deal.
Thanks again for the update.
Mike, thanks for the awesome tips I'm going to go back and re-watch the video and I'm going to stick to your script. This is a huge help thanks man
Good information and it’s good to hear should buy from local Dealers. Thank you
I bought my 1st new car in 2017. After I test drove and knew the exact model and trim level I wanted, I pretty much did all of my negotiating over emails with dealers as far as 3 hours away. I ended up going to my closest dealer when they agreed to sell at an OTD price that matched a dealer in another state. The OTD price ended up at exactly their advertised sticker price.
@Mike's Car🥇
I thank you very much for your excellent content on RUclips. Because your publications help me a lot to understand the way I have to do things before I buy my first car. And thank you once again for your time.🚙🎖🏅🏆🤝
I have made my best deals 75 to 100 miles away. Usually, I got holdback in the deal with the top of kkb for trade. No doc fee or add-ons in the deal were mentioned. This is up to 2 years ago when I got several thousand over what I paid for the 1 year old vehicle I traded in. I traded yearly as some of my friends and neighbors did. We are done trading yearly with the price increases we have decided to put the money used for trade will be put into certificates of deposits. This is one of the reasons GM has decided to shut the truck assembly plants down for a couple of weeks. Prices went up to the point that inventory was sitting 2, many days. Why didn't they just discount is beyond anyone. Yes, you are right. Do the homework. The days of buying new vehicles are about over. No one can afford them. Hopefully, no one has an accident and is forced into it or has a vehicle at the end of its life. You did make good points.
Thanks for a great video. I learned a lot. Carry On Sir!
Thank you for your helpful information
Love the channel. Love the knowledge. Out the door price is key and I guess so is proximity.
I don't know if it was the best play, but the last time I bought a car, it was used..... but only had 13k miles, so manufacture warranty was in place. I only negotiated on price, but lead the salesmen to believe I was interested in financing and the extended warranty/extra services by asking multiple questions about it and pretending to be very flexible on those topics. I figured they would likely try to give me a good price on the car, then screw me on the other aspects.
When we finally agreed on price (one I was very happy with), I signed the paperwork and took their financing. When they brought up the warranty/services, I said that I changed my mind and wasn't interested in any of it. They had a 'deer in headlights' look on their face.
I then went home, signed into the financing portal once I was able, and paid the vehicle off. Luckily, the car has been great.
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Great video and to the point. Thank you for good, to the point information!! I’m still smiling…… I s that the best you can do. Lol.
Having access to Black Book data is a game changer for me. Now I can see what the dealers use to price their vehicles. Almost every dealer prices them at or above the highest 'Retail' value. Gotta give Mike's Car Store props. I sampled a couple of the vehicles in black book, and they're either at the mid-level retail or between mid-to-high. Very fair! It does seem that you're practicing what you're preaching. Definitely need dealers like you in the Dallas area!
Dealers should be willing to accept average retail price for vehicles from what I’ve heard
How do you get access to black book data?
I too wanna know
@@TheButtman420 You pay for it :)
@@mikedr1549 lol i’m an idiot. I should have figured you could purchase it lol
Been trying to buy a newer used car since Dec, no one will negotiate. All my emails responses have been to come in or pretty much f***k off. I'm done trying to buy a car from a dealership after getting screwed over on my last inquiry. Hoping the economy crashes and dealerships will burn.
I would add #8... try not to get emotional, and always be prepared to walk out. The first to get emotional during a negotiation usually loses.
My sister in law got emotional and fell in love with a 2021 Toyota Highlander XLE. This thing is fully loaded. She didn't think about the payments and now upside down in it and barely making the payments. The dealer offered to buy it back but she'd still owe $5k.
It's also a good idea to have the FTC guidelines on hand and know what a dealer add on price prior to signing any contract..
I called a dealer in GA, I live in AL, and ask the dumb question "what is your best price" and he talked to his manager supposedly and came back to the phone and took 1K off the listed price. Me and a friend drove over to GA and bought the truck that Saturday. That was 10 years ago and I'm still driving that truck today.
You could have saved more money😂
Funny how time changed over 3 months, I looked at a BMW 5 series, Audi a6 and Volvo S90, all 3 dealers are constantly contacting me with lower prices. All 3 are at almost 10% off and 2 are offering special financing. Definitely a change in the car market, haven’t seen so many cars on the lot since pre Covid. Figured I’d give them a few more days to fight it out and go with the best deal, they all were nice cars and I’m not picky with the color.
Ty Mike!
That boxer is far and above the best part of this video
I was trying to buy an ten year old car from a big dealer in my area. I don't remember the exact price, I think about $8,900. I low balled and offered $5000.00, it was high miles, close to 170,000 miles and one wheel was squeaking. Months later, an older salesman came down to $7900.00, and at that time he told me they actually took the car in on a trade and only gave the trader $3000.00 for it. i did not get the car.
Awesome video!
Love your epi's.
good vid. my fav in a long time.👊
I was offer $1000 on a trade, negotiated a good price on what I was buying. Then said no on the trade, I'll give you the $1000 instead. They said OK, we'll give you $2000 for the trade. I said no, so they offered $3000, to which I still said no. I sold it for $5000.
I did almost the exact same thing with my last truck purchase. The dealer offered me $1000 for trade-in. I sold it myself for $6500. I almost cancelled the deal on the new truck on principle due to them trying to screw me so bad on the trade offer, but the $13k below MSRP was so much better than any other dealer. NEVER TRADE IN A CAR! It will cost you thousands.
In my town they want to much for their vehicles. Thank you Mike
Same on on Long Island its crazy here
My favorite car salesman uploaded another video yesss!
More to come!
In my experience, the most reliable way to get the best price on a car purchase is to consume oodles of the salesman’s and sales manager’s time. Spread it over a couple Saturdays. Get them to the point where they have emotionally spent the commissions. Then when they realize that they are at risk of losing the deal, they will move a bit on price so they can get something out of all the time they have spent on the deal.
who has that kind of time on their hands? and how do you waste their time? I find it intellectually draining to sit with a scumbag and listen to their bull crap. THe simple fact that every bit of advice on this thread is different shows how broken the system is. TO every car dealer or salesman who reads this F U. I hope you all go out of business.
It's not like I have that kind of time. I have things to do on my weekends.
When I bought my new 22 suv I traded my truck in and I got 14k above carmax offered me and I went home with my new suv and 10k in my pocket the truck was a 21 ram limited longhorn with everything and lost only 4K from what I bought the truck for a year and a half ago. Very happy
You should do a segment on the various types of FICO scores. Your Auto FICO is not the same as your revolving credit FICO and is again different than your mortgage FICO. I think there are 8 levels but I am not sure.
There's more than one auto and mortgage FICO too...
With the new market pricing everything seems upside down. I use to negotiate down from MSRP. It seems now every dealer ship has outrageous market adjustments. I have noticed that just last month the truck I wanted was $15,000 market adjustment above MSRP, despite bargaining, and just this week is now $7,000 (with bargaining). So I hope by March it will be again at MSRP. The killer, is that manufacturers increased the MSRP by almost $1-$2,000 in 2023.
I recently went to a dealer that had $8000 markup on the few remaining sedans they had. The salesman immediately came over as I looked at sticker and I told him that markup is not for me. He said "you're lucky it's not more". I said "you're lucky I didn't walk out sooner" as I walked out the door. The look on the salesman's face was priceless. Car sales are extremely, extremely, EXTREMELY profitable for the dealer, they should do what they can to create sales rather than deter them.
MSRP is a deal now 🙄
“You’re lucky it’s not more.” Imagine the arrogance of this salesman. As if you have to purchase the vehicle at this dealership and from him!
I have called a dealership and asked for a lower price and it worked.
I told them if they can do the price I was asking on a new car I would buy it and today. It was the last day of the quarter, not sure if it mattered or not.
In 2018 I was in the market for the new redesigned 2019 Ram Laramie. One evening I emailed every Ram dealership within 200 miles and described exactly what I wanted and exactly what I was willing to pay. The next morning my inbox was blown up and a dealership 180 miles away agreed to my price. Two days later I showed up to the dealership preapproved with my credit union, took the truck for a quick spin and about an hour later I was driving home in my new truck. The two dealerships within 80 miles from my home didn't even try to compete for my business and wouldn't budge off their price which was about 6k more than what I paid the dealership 180 miles away.
Hm, interesting. At least last rule definitely will work ☺️ In my case as much I was closer to dealership there were more dealer market catch up 😅!!!
Step 1: negotiate the dealer markup from $30K to $29,995.
😂 They still won’t budge!
Also if you work for an auto manufacturer and have an employee discount of any kind do not mention it until after you negotiate the price. Save that for the financing portion of the deal.
Best time to buy is towards end of the year , need to hit quota on new cars and get manufacturer yearly bonuses and clear inventory. Great tip as far as do your due diligence online ,have at minimum 3 different options working at once & be willing to walk in an instance. Utilizing these rules, I never lose on car deals.
Lol every car deal is a loss
Lol i mention that to a dealership. I said in the spring , I would come to the end of the year and buy a car. I said , what’s the best Time ? They said. Today is the best time.
My dealer closed at 7pm, 12/30/23. I was there that afternoon to see what they had. I went home and looked around, went back at 6:10pm. Only 10% off limited longhorn 1500. 76,000, only 10% off on their closing moments of a horrible year. By 6:50pm they added a 7yr 60,000mile warranty. They just offered 7,000 off yet have commercials of 12,000 off some cars. I saw 1 truck at 78,000- so which machines get that 12%? I'll go back in Tuesday morning, when they open after being closed Sunday and Monday New Years. I'm thinking they're still holding 7,000.
I haven't been able to find a good deal on Long Island and Tri state area...too many bs fees and markups...expanding my search area but will find a Great deal!
Here … I am going though this to.. Nothing on Long Island.. I am looking at upstate and Jersey
Just bought a new car in Florida for my daughter. Did it completely online from California. Had to contact a dozen dealers before I got a big discount off MSRP. But it only takes one.
Hope they delivered it to Cali. Very long drive home if you picked it up.
@@mindfullymellow2323 Daughter lives in Florida and picked it up after we completed the sale.
@mike, ive been watching you for a while and i need a specific question answered please.
Does the advice youre giving about vehicle pricing at the dealerships and how to negotiate the price apply if the vehicle is not avail/not in-stock and has to be built and ordered from the manufacturer?
Exactly. I just went through this exact deal and went through all these steps. Even walked away twice
In July 2021, I needed to replace daughters wrecked 2019 Camaro with the same. Looked nationwide on CarGurus. Took the advertised prices, divided by the number of remaining miles till 100K and came up with a price per mile figure for each car. The lowest per mile price was .33. Then I made offers, based on the .33. My 2nd deal accepted my offer, $32,500 with 4,400 mi.
Hey Mike. I see you have a used car dealership, but are you able to get new Chevys for someone on the west coast?
You could sell ice to the Eskimos...or a Chevy. Good on ya mate!❤
Here's the issue I'm having, 3x now I'm willing to pay the listed price on the same used vehicle and of course TTL. But when it came to financing, using my own financing the other went up 2k. Certification and other Dealers fees, another 3k. So what started as a good deal on a used vehicle, ends up at the price of a brand new one
“No person may advertise a savings claim or discount offer on a used motor vehicle….those can only be made on new motor vehicles / franchise dealers. Advertising an "internet price," "e-price," or using similar terms that indicate or create the impression that there is a different or unique sales price for an online or internet consumer or transaction is prohibited. See Texas Administrative Code 43 TAC 255.250 (d-e).
Demanding a higher price if consumer wants to pay cash could be a “hidden finance charge” outlawed by Regulation Z. It may also be a “Deceptive Act or Practice” under state and federal law - A three-part test is used to determine whether a representation, omission, or practice is deceptive. First, the representation, omission, or practice must mislead or be likely to mislead the consumer. Second, the consumer's interpretation of the representation, omission, or practice must be reasonable under the circumstances. Third, the misleading representation, omission, or practice must be material. [FTC policy Statement on Deceptive Acts and Practices]. So, under federal law you could have purchased the vehicle and sued the dealer for the overcharge as an unfair practice and a Regulation Z violation.”
Thank you. I'm so broken. I always had 720+ score and purchased vehicles without a problem until my career tanked and fell behind. Now im at 580 score and struggling to get approvals.
Maybe just keep the old vehicle and don’t buy a new one then?
I once emailed every acura dealer within 200 miles of me. Telling them I'm not local and what is their best price on a base model MDX and one dealer about 100 miles away called and offered $3k under MSRP. Made an appointment to drive out day.... we showed up and our car sales man took that day off. Made us wait 2 hours final told us they weren't going to do the deal... MSRP only. Had to get in my car and start driving away and then they ran out and honored the 3k off MSRP
That does sound like a 'high drama' way to negotiate, but they know that once you leave they lose a car sale, so that method does work alot of the times.
Know your local market. In my area, all the dealerships in my county are 25% higher and much less willing to work a deal, versus if I go an hour west to Pensacola, they have lower prices and much more willing to work on a deal (except Hill Kelly Dodge, they are scam artists, no idea how they are still in business).
We mostly custom order our vehicles, private sell owned vehicle, never finance. How do you negotiate effectively in this scenario?
I was about to be sold a car, but the finance guy informed me a piece of trim had been replaced. I looked at the trim and could tell it was body shop work. I walked disgusted, several days later the salesman called me several times. I came back in and looked at another vehicle with options I didn't want (sunroof), LX to LXT at the same price was out of the dealership with a new car in the color I wanted but had not said.
Got a call from a dealer who asked me what city I'm living in and he said "Oh you're only 45 minutes away. Very close! Why don't you come on down today to look at the car?"
I found it interesting that once I became debt free and never buying anything on credit, I went from having a great credit score to not even having a credit score at all anymore. It totally disappeared. :)
Yup. My Experian says I look risky because I haven’t taken out a loan. Like tf???
I do believe that credit is a scam .... Because we choose not to have debt, we are the risky ones 🤦🏻♀️, but those that stay in debt get rewarded 😮🤷🏻♀️....
Yeah Credit Scores are a scam… Might as well be a social credit score… it’s literally just meant to keep everyone as debt slaves… Same reason college inflation went up 110%.
Use a credit card and pay off the balance every month so you don’t pay interest.
Isn't that like complaining you don't have a golf handicap when you don't play golf? Why would you have a credit score if you don't use credit?
Ty Sir
Great info Mike. I just left a dealership that had a LoJack fee of $1000 for first year. Is this BS and considered a theft protection add-on that can be and should be removed?
This sounds like an attempt to increase the chances of recovering a vehicle by means of repossession. In this case, they are shifting the cost to the purchaser.
There are numerous cases of people financing a vehicle and then not making payments; then they hide the vehicle to prevent it from being repossessed.
The question that comes to mind now is: How many cars do they anticipate having to repo? If they are making this mandatory, then it must be a high percentage. Why are they anticipating such repo numbers? Is it because they know they are financing a vehicle beyond the means at which the customer can actually afford? So they are planning on making free money off of down-payments and recycling the sale of the vehicle.
Our dealership pays MSRP for our vehicles. We add accessories to make some money on our vehicles, but the dealership still needs to pay its staff, so we generally don’t discount any vehicles.
Where do you get an accurate fico score?
When buying new, I've found the most effective way to do it is to bid it out over 5 states asking for TTLF, using my own email, NEVER their own site. Amazing how fast that price craters. I spec it exactly at the trim level described by the mfg, and won't take fees and crap like that.
TTLF?
"Tax, title, license, and fees", IOW, "out the door pricing". This makes the bottom line the only thing that matters--i.e., transactional, and makes them tend to suppress the junk fees if they want to be competitive in a bidding environment.@@Jonny-Cakes
Maybe tax,title,license,fees?
Yep. Also, do NOT tell 'em you're going to pay cash. They figure they'll make up the low ball by getting you in their GMAC or other lending program and really rake in the $$. . Let 'em think you'll probably have to finance it. Once you've got the best price, then say you've got the cash--and not before. @@allenwify
Don't like #3. I'm a cash buyer and I don't like the BS of playing games in a dealership trying to buy a car. I know what I'm willing to pay, usually 8%-10% off MSRP without add-ons and I just want to get in and out. I could care less about making friends. I'm friendly, but I'm not there looking to hang out. And I don't understand why they would want to waste their time either. Here's my OTD offer in cash and either it works for you or it doesn't. Just let me know and we can either make a deal or both move on to better things and not waste each other's time. I remember one time specifically at a Nissan dealer they stalled in the back, when I asked what the holdup was the salesman laughed and said they were trying to figure out what my angle was. No angle, do I write the check or head to the next dealer just say the word no hard feelings. I've always ended up getting what I was offering, but NEVER did they do so quickly. They still always find ways to drag it out unnecessarily.
Hi I am new to Canada it will be great ful if u can advise outlander phev or Buick envista is good so that I can start working on that
I called Dealership that was 3&1/2 hrs away .
Negotiated the out the door price over the phone . 1st thing I did was ask for manager , then Negotiated price , he made price offer which I rejected & said I need to be at this price out the door .
He accepted & I bought the vehicle .
Idk I went in with a payment in mind and worked entirely around that. The payment is directly tied to the price, so if they are lowering the payment they are also lowering the price. I got 2k off msrp which in turn lowered my payment.
How about just to offer an O.T.D. price on line as a cash buyer?
Hey ! whats the deal with trading even your car with another used car at a dealership? is it an easy thing to do? whats the procedurre? thanks!
Most if not all used car dealerships have a markup from 40 to 60 percent.
Where I am the banks don't even give you a car loan - they are integrated into the dealers and the rates will be the same across the board. It is a pain in the ass in negotiating.
I’m pricing a 2023C8 convertible and I see one price for the convertible is 72,000 and then the dealer is saying that it’s 83450 and that and that’s the way convertibles usually were I know won the 2023 it’s quite an operation on the C8 but it’s a lot and it’s a big difference in price. Tell me what you think please I always watch your RUclips and I always wish you the best. Very good a regular guy.
Does this count as well when you are turning in your trade in for a lease to lease. Do you still do your research and treat it as a separate transaction .
Cool video
Mike if your work has a preferred pricing with a dealer and you buy a car from said dealer do you have to pay a $150 to participate in the preferred price deal or your already in it because of where you work
Can you go to the end of the negotiations with the dealership, with the dealership assuming you're going to finance the car, just to get the cheaper price for you, but then say, I just decided I'm going to pay cash, but then pay cash straight up without doing any financing?
You are the one doing the buying and, therefore, are the one in charge. You can do anything you want. They may not honor the deal and if that is the case, politely tell them your offer is off the table and leave.
If I'm trading, the car probably has spaceship mileage already. Depending on what is going on in my life, I'm probably going to trade because my time has value.
That was pre-covid when things were not insanely priced.
When my son bought his first new (to him) car June 2022, we sold his 200k mile Altima for $4k without even cleaning it up. So many were in line to buy. Everyone won.
Only reason we got rid of the Altima early (200k is early for us) is because he was moving across the country and he wanted an Impreza. Cheaper to buy that in the midwest and pay the lower sales tax compared to the Pacific Northwest.
@6:15 - yet my best friend's dad was a diesel mechanic and needed a new pickup back in the early 1980s. He was getting parts for his older F150 he used around the farm and mentioned he was in the market for a truck, asked them for their best price. They gave him a number and he said thanks.
A few weeks later, the sales manager called him and asked if he was going to buy. He said no, he already bought from another dealer. SM asked why and he said, "I asked for your best price, and it was higher than XYZ dealership 30 minutes away, so I bought from them."
You can bet they sharpened their pencil the next time he asked.
Same truck, different prices. Kenny didn't play games. You had one chance the make the deal with him.
The dealer in the small town we lived didn't think people would go to the next town over or to "the big city" to shop. Kenny would because he already traveled to do his job, so it wasn't like such trips were out of his way.
Exact situation happened to us! Local dealership would not negotiate, contacted dealer 70miles away they offered us $2100 less & put it in writing - SOLD! Local salesman called a week later, gave him the great news! Lol
Question: On the reason, they should lower the price on a new car? If you have good credit, you're pre approved. That's when you can ask for a lower price. Please explain. Thank you!! ( new car msrp)
In California it seem we get better deal up south then any other location, use to be $15 for every $10k
Now is $20 wow
So let me ask this, does it help when you’ve bought a vehicle from a dealer in the past? If so how do I work that?
No such thing as a stupid question. Car dealers are feeling the pain because of their previous bad practices!
Where can I check my credit score?
You're so wrong on #4. I bought my last 3 cars in 4 years at least 500 miles away. Local always try to screw me. This advice is coming a Used Car Dealer. Take it what it's worth.
Flexibility is a key aspect of my approach as I understand that circumstances can change unexpectedly. Thus, I always keep an open mind and adapt accordingly. For instance, My blue truck in the video, I had to travel 2 hours away to buy it to get a good deal and find it in stock.
I live in Florida where the dealerships love to charge you thousands in add on fees for their mandatory packages that you don't need or want. I walked out of the Nissan dealership and started looking online nationwide. I found the car I wanted in Kentucky but I found a better price elsewhere and I asked them to match the price and they came really close so I bought the car from the Kentucky dealership, did all the paperwork by mail, and had it delivered. I saved almost $10K off the sticker price and I didn't have to pay the mandatory $1995 local dealership add on fees either.
What if your trade is worth more then the car you wanna buy ?
Why pay off the dealer financing in 3-6 months instead of as soon as the payment book comes in? Is that because the dealership doesn’t get their kickback from the lender 🤔
My son recently purchased a 2023 Traverse, the sticker was $46945, with their dealer mark down for being a Car Dealer of the year the past 5 years (Estero Bay Chevrolet) and the Manufacturers $1000 dollars off the price was 43319. Here is where it got funky. While in the finance office, and working out the documents to purchase the vehicle, we were told someone else had purchased the vehicle. How does that happen? To the dealers credit, they did allow my son to pick out another Traverse RS which was a bit more expensive and they matched price. What is everyone's thoughts on the add ons? Do they add value to the car? Resist all paint and interior coatings, extended warranty and so on or are you just better to go off market for that stuff?
Are you seeing cars come down now? I see prices on inventory dropping a few times a week on cars that have been sitting 90 days, and transferred from dealer to dealer
I called/emailed 6 different Honda dealers and asked for their best OTD price for a 2023 Honda Accord Hybrid and told them I was looking at a dealer that is discounting MSRP by $750. I ended up getting $1581 off MSRP from a dealer that was the furthest away from me, so I told my local dealer that I was gonna walk unless they price matched. They initially would not go down any lower but I was polite and told them I'd call back. Got a callback later and they matched the offer. So that's what worked for me...
I'm right now looking at a 4Runner at a local dealer and I asked the forbidden question by email Saturday if he could sharpen his pencil and see if he could do any better on the price. Whoops. He didn't shoot me down, though, asking what I wanted to pay! I emailed him back my offer after hours Saturday, so we'll see what kind of response I get today. And I thought I was being so smart! 😮😅
If it's an sr5 they'll negotiate..... nobody wants an sr5, they settle for one.