This video itself proofs all car dealers try to screw customers, NOT ONLY car dealers BUT ALSO most companies try to screw people. DONT TRUST anybody but yourself
@@timrich5344 jesus, you all are acting like you have to prepare for war to buy a car. Just don't be stupid and do YOUR OWN research ACCURATELY from GOOD sources.
@@koreysederburg4396 Trust me you have to actually prepare like you are preparing for a war. Stupidness is a good word to describe someone who bought 7 cars in a year and lost thousands in all fees and everything
1) I’m paying cash, 2) I need to buy a car today, 3) I need to make this fit into a budget, 4) I’m a proctologist; I’m a doctor, 5) Woe, this thing is great! 6) I really love this car! 7) I don’t know much about cars, 8) Never admit to having a trade, 9) I don’t want to be ripped off, 10) My credit really isn’t very good.
It doesnt matter one hair if u mention trade before or after. If you negotiate a good price first, then talk trade, they will still fuck you by giving a low ball offer for your car I worked for a Honda dealership that automatically held back 500 for the trade To boost their bottom line. So the sales guy lies to the customers when he says “thats all its worth”, knowing full well they held back money. Its a slimy business
@@Mrtellitlikeitis I read a penny-pinching book decades ago. The author suggested that people should buy a high quality used car that more or less keeps the same body style for a long time, and then drive vehicle into the ground. In other words, you can save money by driving the same car forever.
At the end of the day, the most important thing is to be able to walk away if you don't like the deal. No need to waste time on learning negotiating skills - just be prepared to walk away, that is your most powerful leverage.
when you walk in to a dealership, never ever close a deal at same day. also never ever go through their financing rather go to a Credit Union bank. Lastly and most importantly do your research, do the math and be prepared . I would never ever forget the Finance Manager telling me, “you beat me man.”
I had a honda dealer try to rip off my girlfriend. That guy was insulting and said I didn’t know my math. I tried to walk away and eventually got the deal I wanted.
With good credit, research credit union interest rate and have finance beat it. Then “decide” to pay cash for a portion of if possible, so the interest rate you pay for the loan is lower as well.
I have done great by knowing what rate the credit union would give me and had the dealer beat the finance rate, also if buying used find out how many days the car has sat on the lot you might get dealer auction pricing on that car. The dealer doesn’t want to pay fees and expenses to send the car to the auction if it’s sat on the lot long enough.
When shopping for a car, shop close to the end of the day, end of the month, and end of the year. Helps if the whether is poor as well. Salesmen are human, they want to go home after a long day/month/year same as you. They are more inclined to simply give you a whatever-just-buy it price.
SALESMEN do NOT decide how much the final price is, the General Mgr and the Finance guy do that. So don’t fool yourself that you can find a tired, hungry salesman who will give you a good deal.
@@timconrad1699 Agreed, also coming from the salesmen. Best thing to do is look at the sales bored, see which sales person has the least sales. Ask for that person.... They should be hungry enough to drive the living shit out of the managers 🤣
I've noticed that when you trade a car in then the dealer says it's the worst car he ever saw and it's worthless. After they buy the car off you for nothing and they need to sell it then it suddenly becomes the best vehicle on the market and really great value. It's just terrible.
Actually they often offer more than the book price for the trade in. That way the victim thinks he is getting such a good deal that they forget that they are paying way more than the car you are buying is worth. They will call your car a clunkers and offer a low price if you are selling instead of buying.
Sometimes you gotta take what they give you though. I drove my 2001 325i into the ground…230000 miles, needed new rotors, shocks springs shot, etc. was happy to get 600 bucks.
Last year my oldest son decided to buy a new Ram pickup when the dealerships were shitting bricks over miserable new car sales. All the dealerships he visited refused to offer him anything for his 2005 Dodge Neon since it looked ghetto with plastic taped over the driver's window (he had a new mechanism in the trunk), had milky clear coat over the top of the car, needed a TB kit with 122K on the OD and two new rear tires. He only wanted a plain jane model and all kept steering him towards the high dollar models with all the whistles and bells. He visited them over a two week period before one dealer made him an offer he couldn't refuse so got a real nice Ram at a deep discount along with the dealer's lifetime warranty. He had it financed thru his bank and gave me his Neon, which we got for him in 2007 as a HS graduation gift. He got a call from the dealership in December that offered to buy the Neon for $400 if he still had it. At that time the car was only worth $1400 if in good condition on the local market. I checked out the prices again this July to see it was now worth $3000.
Seven years ago I was ready to trade my Subaru for a new one for the backup camera and keyless operation. The salesman dismissed my trade saying, "We're just gonna wholesale it," even though it was top of the line with only 75,000 miles, so I walked out and looked at Toyota RAV4s. That salesman was the senior guy, and after we worked out exactly what I wanted and he checked to see when one was expected in, he sent me to the "negotiator", who was an obnoxious parody of a car salesman, loud and pushy. So I walked out, and when I got home I called my salesman to explain why I left. He asked me what I expected for a deal and I told him. Half an hour later he called back and said, "Your car will be ready Friday." Stand your ground, and if they really want to sell you a car they will.
In my country, and from my own experience, its best to buy a car when you know car dealers are about to count their quarterly quotas. This is when they're trying to make that "one last sale" before the deadline to boost their numbers. They won't be focused too much on how much cash they can squeeze out of you but more on how quickly they can increase their sales numbers before the deadline. They kept calling me to give better discounts when i played hard to get 😄
Good point on the paying cash thing. But one time I withdrew 6K in cash (I don't recommend this by the way, it can be dangerous), and let the dealer know that I wanted to give a large cash down payment. Well we got in a standoff on the final price, I pulled the wad of cash out, their eyes lit up, and I said, I'll go across the street to the other guy. They nearly fell over each other to keep me from leaving, and got me back in to talk turkey on the deal. I finally got a fair deal for me, and a fair one for them. Green cash visually, does something to the human psyche.
"Cash" does not necessarily mean green paper bills. A check is also considered cash. What the guy is talking about is immediate payment (paper bills, check, money order or cashier's check etc.) as opposed to financing.
This must have been in the 70s/80s/90s... today with electronic filing a dealership has the entire purchase price wired into their account from the bank before you leave the lot so your 6k doesn't mean shit to them financially. Back in the day when it might be 2 weeks until you get funded from the bank dealers would have cash flow issues (or maybe the owner had a bad drug/hooker problem that he needed the cash for) in today's dealerships pulling out 6k cash just tells them you're serious... if their attitude changed it's because you probably gave off a vibe that you weren't serious about making a deal right then and there. Coming from someone who worked in the business for a decade holding many different sales and sales manager positions.
DON'T RUSH!!!! I found a car I wanted and in this case, I had cash and told the dealer how much I had but he wouldn't work with me. I didn't need it right away so I walked. Left my number with him and he called me 2 weeks later on Sunday afternoon because the dealership hadn't sold a car all weekend. They wanted 24k for it. I paid about 18k which was the private party Blue Book and exactly 20 OTD.
A dealer once told my Dad that the car he wanted was their most popular model, so they really couldn't give discounts, but they could be generous on the trade, a 1970 Opel Kadett that Pop had driven the last block on the parking brake. Pop had slid across and gotten out the passenger side, and the salesman said "It looks like you need a car." After negotiating the purchase of the new '85 model (and the dealer did give him more for the Opel than Pop had paid for it new), Pop accepted the keys to a fully loaded Dodge Omni and the porter got into the old car to release the parking brake and drive it to the back lot to be wholesaled. When the porter got in on the driver's side with the door open and seated himself at the wheel, the left-side frame rail broke. All that had been holding that car together was the door hinges and latch.
#8 Is 100% true. If you do anything, I would park your car a half a mile away and NOT let the dealer have any access to it until you're sure you want the car. Also, never let your guard down. The sales person is just the mini-boss, the *finance person* is the final boss and they will screw you over if you let them. Always be in position to walk away until you're 100% satisfied with what they offer you and be prepared to fight the finance person because they usually are *NOT* your friend.
Or do what I did when I went to go look at one today take a family member with you and if they ask if it's your car just tell them no it belongs to who ever you brought with you.
"The guy in the back room wants in your back door" F&I are where the real slithery ones are. You can get every kind of useless add-on imaginable, including paying 1,000 for a a peel-away sticker on the side, "protection" packages that don't last 3 months, and gap insurance that's useless almost everywhere (might be a good buy when the car bubble pops)
Some dealerships treat their inventory as a money making piece of metal with wheels, despite the sweet engineering behind it. Don't give them the satisfaction. Play the game right. It's all in the details. Great vid Mark. Kudos!
it IS a money making piece of equipment on wheels. Dealerships are a "for profit" business and operate as such. People are so quick to pay 10-15k list on a house they later find is riddled with termite damage and call a dealer making 1500 on a 40k car a crook.
Starbucks and all coffee shops treat their inventory as a money making piece of coffee bean with water. Don’t give them the satisfaction. Versace and all clothing stores treat their inventory as a money making piece of fabric with hangers. Don’t give them the satisfaction. Oh and how about this? Pet stores treat their inventory as a money making piece of meat with a soul. Don’t give them the satisfaction. In fact, don’t give any businesses on Earth that plan to make a profit any satisfaction, after all, profit is the root of all evil. Play the game right, stay home and use your money to wipe your ass, because now it’s just a useless piece of paper without purpose. Good luck with life.
@@ECPP So how do you want dealerships to view themselves? A passionate charity establishment? Without profit, do you think cars would be manufactured? You’d be driving what the Flintstones are driving.
Most gearheads don't go into sales, they go into maintenance/modding. Most salespeople don't know about cars, they just regurgitate whatever the OEM packet tells them to say about the latest models.
Yes. I make sure they have my cell phone number and I walk away EVERY time after test driving the car and giving them the dollar amount that I think is fair for the car. I never sit in their talk-room. I just wait for them to call me.
I straight up cut through the B.S. I'm a cash buyer, and I do all my own work. I go straight in already knowing what the value of the car is according to them ( usually NADA guide ). Due to researching the car, I already know what common problems to look out for, plus just basic car issues. Leaks. Brakes. Suspension. Timing issues, ect. I look over the car. Run a diagnostic on it, and test drive it. If I'm still interested, I go straight to the point, and give a final offer which is always less than the asking price. If they say no, than see ya later. I'm on to the next vehicle. If you can't pay cash, and need to finance, go in with the same attitude, but Don't finance through the dealership. Get one approved for a certain amount elsewhere. Know the value of the car your wanting to purchase, and the value of a trade in if tou have one. Personally, I think trading a car in is the worst option. It's usually better to sell it first if you can.
All good advice.... Except there is nothing wrong with financing with the dealer. The dealer can get better interest rates than walking into a bank can get you. Just make sure the dealer is not holding to many points on you.....
You are right about the trade in . I recently tried that. I had a better car than they had and wanted the one they had because it was a niche car that I liked. They tried the isolate and let me appraise your car schtick. Unluckily for them I worked for a used auto auction for 8 years and knew all the dealer tricks. I stood firm on what I said my car was worth. I had already gotten it appraised beforehand. I also own my car and owe nothing on it. They tried many times to get me to come to a consensus I refused. Finally the sales guy gave up and was like what is the number you will pay. I was like I'll pay Tax, title , and liscense. Even trade. They had balloned the price of the car up to the level of my car which was younger and had less mileage. They wanted my car badly but I was like I will take my vehicle and do business down the road with carmax. They will pay my price. Bye! Basically sell your car then just go buy it. Always leave if it gets shady. Not worth your time, remember you have all the power.
Every time my dad used to go and buy a car, he'd go in acting like a "poor & dumb" black man (this was back in the 80s & 90s when we lived in GA). He was a veteran, had excellent credit, and always seemed to outwit the dealer. He'd agree to their ridiculous financing terms as long as he could get the car waaaay below MSRP. Then he'd stroll in with a cashier's check for the FULL amount when the first monthly payment was due. So yeah, even if you're paying cash, if you can get a better price via financing, nod your head and sign the papers and pay it off @ your first bill.
Exactly, that's what I did last month when negotiating for my 22 Corolla that we just bought. Even during the current conductor chip shortage, I was casual and didn't let them jack me. I was able to trade a vehicle that I still owed almost 10,000 on, and payments were $500 a month. I financed it through my bank with zero down and good credit for a payment of $335 for 60 months.
@@Jj-gi2uv Yeah thanks man, she's also an LE and am really liking it so far. It's great that you still have yours and are awesome little cars, did you buy it new ? The MSRP on LEs start at 21.3 plus $500 for tint, which is a must living in Arizona. Unfortunately since this shortage of new vehicles, I pretty much paid sticker and wasn't able to talk to them down some, but they didn't try to raise the price of it and gouge me either. Which many dealers have been doing I've heard and was happy that they didn't try to put me through that crap, plus I got lucky to get one that was built in Japan. From what I've read, over 70% of new Toyotas in the US are built here and the rest are imported. I didn't know anything about that and just read about it recently, so it wasn't a request and was totally random it worked out that way lol. Yeah I like to watch the car care nut also and has a lot of good info on there. Lol if you're into Toyota, you should watch Scotty kilmer's channel and is hilarious. He doesn't just focus on Toyota though, they are his favorite and pokes fun of junk automakers and is very informative, but also funny and entertaining
When I purchased my brand new BMW 540i xDrive M Sport last year from an authorized dealer....it took me over A MONTH before we agreed with the price. On the final negotiation date, I went to the dealership wearing my worn looking gray Old Navy fleece and olive khaki pants.
Bought a F150 8/20. Sales guy told me to get the incentives I would need to finance. "Just refinance in 3 months". The finance person "you are not going to like this interest rate, 7.85%" Refinanced to 2.05%. Great advice
Thankx for your pointers! I’ve already messed up by telling the dealer online, what I have for a trade-in. But, I have learned from you, to keep a poker face. Not give any details about the fact I want to pay cash, and to curb my enthusiasm. Wise. I will treat the sales person with respect & kindness. I appreciate your video. Well done olé’ chap👍
I was negotiating around three weeks! If I went further, think I would have got his trousers too🤪 No matter what it is. Find the right person you can talk to and your gut is feeling good. Be polite, confident and have a lil bit of knowlege what you talking bout. Most of the time you will get a good deal (or at least don't get screwed).
Say whatever you want as long as what you say benefits you. The car buyer owes nothing to the car sales person. The sales person is nothing more than an annoyance to the car buying process. Any car deal is actually determined by the car buyer and the sales manager. The sales person is merely a conduit between the buyer and the sales manager.
Most guys I know that were or are currently selling cars actually like cash customers, They say its a real pain trying to get financing for some, or payments where they want them. The same people keep coming in and out, and back again, and again, wanting too much for their trade-in that they're upside down on. A good cash customer may not make as much for the dealership but takes less time to work the deal.
The credit thing happened to me when knowing your credit report was a secret that only dealers had access to. I paid a whopping interest rate on a used car because my credit “isn’t as good as you think”. My ex husband looked into it recently and told me my credit score at the time was over 800. Always know your score….those interest points add up.
They so do this. Acting like your credit score is invalid. Also when you by using their loan company make sure to ask if the interest rate is locked in or if you can save on interest by paying off eairly.
Know your own credit, just don't tell them. Longer terms aren't bad, other than the fact that they almost always do higher interest rates with longer terms. If the "true price after finance" is something you can live with, and you've got a car that you will keep for 10 years or longer, go ahead. Just know that it won't be the best deal for you. But if it's the car you want, it might be the best deal for you, for that car _specifically._
I adhere to the George Costanza school of buying cars: George: "Look at these salesmen. The only thing these guys fear is the walkout. No matter what they say, you say, 'I'll walk out of here right now.'" Salesman: "Can I help you?" George: "Hold it! One more step and we're walkin'!"
@@apexjoe4769 "Did you call Toyota on us?" "Yes." "Why?" "Because you've been jerking me around like (insert reference to onanism here)." "Well, we're not going to get that truck for you now." "Big deal. You've been promising me 'next week' for a month now, and when you told me Next week again, I was more than fed up." The Tacoma had proven to be less than comfortable, anyhow The Nissan dealer went so far as to tell me that the Frontier model and trim level I wanted was not available, and that no such vehicle had ever been built. I found it online (albeit five states away), paid by wire, and had it transported to my door. I then drove it to the Nissan dealer, asked for the salesman who had dusted me off and the dealership sales manager, and walked them out to the vehicle they had told me didn't exist. "You wouldn't work with me, so I found somebody who would."
So basically tell the stealership I hate this car, I want it for free, gonna finance this for 7 years with zero money down, I’m on nutritional assistance, divorced, 9 kids, unemployed, cough cough...got the ‘Rona...
I bought a $36 k car for $28k on black Friday. Took their financing of 7.25 % to get the price down. I have a 820 credit rating😄 The next day I went to my credit union and had them buy out the loan at .9 %. Never made one single payment to GM Financial and saved all that money. Bazinga!
I certainly have made mistakes in the past when buying vehicles, but i have learnt from my mistakes and i am thankful and appreciative of your very good advice. Thanks mark, your advice is very helpful.
You are very welcome. I do appreciate your positive response. I just want to build a well educated community about premium car ownership and buying so we can have fun and for a reasonable cost.
If you know exactly which car you want check garage stock to see if there is an older,cheaper car similar to the one you want that you can look interested in then guide the salesman to the one you really want as though you are being pressured into an over your budget buy. Surprising how helpful they become.
I accidentally applied some of this principles the last time I bought a used car, the sales man started telling me how nice the car looks and that he was tempted to buy it himself, I started walking around the car checking out the paint and started pointing out all the little defects I immediately started looking disappointed, I took the car for a test drive and came back and told him,I don't know the engine sounded too noisy and that my old Camry was way more smooth, he told me that the Corolla had a smaller engine and it was normal, he actually walked away he could tell I wasn't too impressed with the car I put the car on ramps and checked all over for leaks with a flashlight I did this after driving it hard for 20 minutes, I was actually impressed with a lot of things about the car so I ended up buying it, the car is actually pretty awesome the engine actually feels stronger than my Camry and after 5 thousand miles the oil still looks clean it only had owner and he bought it from the same Toyota dealership I bought it from lol. I'm looking for another Corolla but I don't really need it but another thing I have learned is to buy a car when you don't need it because is easier to walk away if you don't get a good price, if you wait till you need one chances are you're going to get a car you'll regret buying. But the key is not too look like you really interested or excited about the car respectfully point out what you don't like about the car if the salesman talks too much and doesn't give you the space to look at the car, it worked for me lol.
If you are taking these suggestions in the shortage that every car manufacturer is experiencing, good luck getting what you want. I wish you would make a video of you going to a dealership right now and teach every one how your negotiating skills work when there are hardly any vehicles in inventory.
On point I just bought a car this year and it was the first time they wouldn’t budge a inch MSRP PERIOD THEY TOLD ME IM LUCKY THERE NOT ADDING 5,000 over?
Then I wouldn't buy the car. I don't care what the state of the world is, I don't care that there's a chip shortage and the dealer has no inventory, none of that is my problem. If they want to make the sale, then they will. If they don't then I will go try a different dealer until my terms are met. You act like you have to buy the car at their price because of the chip shortage.
I make a few of those mistakes in the past. Say that I will pay cash,and get to excited. now I understand. You are sooo right. I'm glad I watched this video today,I'm going to buy a car this afternoon. I hope to get a good deal. Thank you
Great information, thanks. One comment though. In the past I've driven cars until they cost more to tow away than they're worth. This means that when I need a car, I need it soon. Here's what I say: "I have narrowed my search down to these specific (2-3) cars. I like them all equally. I *am* buying a new car by the end of the week. Whoever gives me the best deal is the one I'll buy." They fall over themselves trying to out compete the others to get a sure sale. Better that they fight each other than argue with me. Of course, I really do need a car soon and I'd be happy with the any of the finalists. This really took away the stress of negotiating a price.
I think telling the sales person what he or she wants to hear can be great fun. Make them think they have a live one on the line and then drop the reality boom.
I’ve been in sales/sales management for 28 years. However, I’ve never enjoyed or been a decent haggler. My ex wife (who I hired as a salesperson when we first met) was unreal! She went at it for 3 hours and we showed up 2 minutes before they were closing for the day. We got up twice to leave, the last time we made it halfway out the door. With her effort we paid $16k less than sticker. She even demanded the $700 tag fee etc to be waived. I watched this video many times. I did my vehicle research and I walked in on the last day of the month AND the quarter on 3/31. The salesman chose to say “there’s no way you are leaving here without a truck”. Why he reinvigorated my confidence? No idea. Lol Anyway I navigated the entire convo with one statement “once you all provide this deal/price I can’t refuse? Then we will work out the details. He went in and out of the credit mgrs office and back 5/6 times. I’d hit him with it again! He tried and tried to navigate financing, credit, cash down etc etc but I just politely said “I’m waiting on that number I can’t refuse or else I can stop wasting our time here and go.” I wound up with an unbelievable deal in a vehicle I was more than happy with. Thank you so much for the tips here and on your others! Even an old sales trainer can use some tips sometimes. Awesome stuff!
Great advice! I was especially impressed with #1, why not to tell the salespeople that I'm paying cash at the beginning. That explains why when I went to a Harley dealer to sign the papers on a Sportster that I purchased after we agreed on a price, they questioned me on why I didn't want to finance the bike when I told them I'm paying cash.
I made all those mistakes. But, they always lowered the price of the car and I always get no more that 2% on bad credit. Maybe because I kept hesitating and trying to leave. Then I also mention other dealers and other brands I am interested in.
Great advice. Would like to add #9 should be #1 with the caveat NEVER, EVER give the dealer your keys, now you’re trapped there and you may have to fight to get them back. I’ve been there.
if we cannot drive a trade, we will refuse a trade. we need to test drive just like you do. unless you want us to offer $1 for it. after we appraise the trade we give the keys right back to the customer.
One problem: I typically buy collector / future collector’s cars that maybe 50 other buyers have called in on. All you can do is prove that you’re a reasonable buyer and can qualify for debt or have cash.
It's easy to get excited over a car. Once after a car salesman told us the price of a car, my wife said " is that all?" The salesman said that he could raise the price if she wanted. Anyway once she said that I knew we had to leave right away and never come back. She got a verbal spanking later but it made for fun conversation around her brothers in later years..We were very young.
Exactly. There is price gouging everywhere and a lot of people have a lot of money and the dealerships know it. They don't have time for my negotiating. I can walk away and they will hold the door open for me on my way out then hold the door open for the rich client coming in to give the dealershio what they want.
No this guy had terrible points teaching people to lie. I sell luxury cars, and if you avoid important questions or lie, I’m not risking my life or a new car with a liar in a test drive on a $100,000 vehicle. You will be escorted out or politely denied business. One of the most silliest videos on CZcams, although the intent was good.
@@jimc4839 . Exactly for now at this time of shortage of computer chips and other components to keep cars rolling out . They raised the price sky high and offer an discount to make customers feel they got a good deal or at least to make people to think so but actually the new price is already way more than that of before the pandemic.
I've owned 24 cars since I got my licence at 16 in 1997. Paid cash for half of them, and new cars. Always have gotten cars at cost or below. So I'll disagree there. But totally agree you never give them your budget. You let them give you the figures first. Otherwise you'll forfeit a better deal. But here in Oz, you usually have to pay a fee to finance. For them to organise it. Or a monthly fee for the life of the loan. But I'm from Canada/USA, just an expat in Oz.
I know many people that tell the dealer that they only want to pay "X" amount per month. Let's say $400. The dealer may have already worked it out to $350 and all you did was invite him to raise it up to $400. Know your credit score before walking into a dealership and don't let them run your credit until you are ready to buy. More importantly, they are allowed to bump up your interest rate 2-3 points which is profit for them, so if you are financing, don't finance with a dealership with the only exception being a 0% dealership special. Keep in mind, each time you visit competing dealerships, and they run your credit, it negatively affects your score. Either way, the Finance manager, fancy name for "back end" salesman will say that we do a "hard credit check" so the credit score that you walked in with isn't accurate, that's fancy baloney. Like he said in this video, zero out your emotion. This is business and if you are shopping with your spouse, together you should understand that there is no room for emotion, don't show it, as a matter of fact, you can play good guy bad guy, you'll notice that the salesman will be divert his attention towards the good guy, it's a fun game, and it works. Car dealers are very well trained to "overcome" objections, put you in a car that you actually didn't want when you walked in, and get your deposit same day and even offer to have you drive it home that afternoon. Why? It's called the "ether" effect. They want that car off the lot while they have your attention, what they don't want is for you to go home and think about it because many times, and it's human nature, once your home you start second guessing yourself and many times change your mind. Car dealers are very aware of this, that's why the least they want is for you to make a monetary commitment in the form of a down payment if you're not "taking it home today". That money down to them is the precursor to a hostage negotiation. Many buyers are good people and once that deposit is down the salesperson adds in the "friend" aspect, and you don't want to get your deposit back and disappoint a "friend", plus, it's not going to be easy to get it back because once you go back to the dealer, expect a swarm of extras to step in and try to keep your business. Learn the word "no". Many people hate saying "no" and at a dealership where you're sitting at their desk, they're smiling and brought you coffee, found common ground and shared their life stories, you are compelled to help the salesman. Yes, they flipped the table on you, now you want to buy the car to help them out and you don't want to disappoint him/her. Generally speaking, a dealership has more arms than an octopus. No matter what, they will find a way to move enough numbers around to get you to drive away with their vehicle. What I just wrote is just a small portion of the car buying experience, there is so much more.
From what I've learned (in watching 100's of 'how to buy a car' videos), the FM has the last word on the price. The salesperson is the one to get you IN the car. So I had fun with mine when the car I plan to buy finally came onto our local lot. I took him for a ride! I've been researching the car for a year now. I told him all the cars specs, features, set up his massage and ventilated seat, and used some of the infotainment features. By the time I was done, he asked if I needed a job because I sold him! 🤣 Videos like this have made me a smart car shopper! Thank you so much!
I just bought a new truck. Dealer had $1000. incentive to finance so I did. I made one regular payment and paid the truck off when the second payment was due.
I work at a dealership where the salesman that also does finance. I am happy to say that none of these statements have any effect on me or my customers. I literally just don’t have time to play games. I am very fortunate to work at a lot with enough traffic that the next deal is walking through the door.
One thing you missed was about test driving and I would recommend having 2 but before you have the second write down what you want to experience from the second test drive and ask the dealer if its ok to do it. At the end of the second test drive you will know if you are still as keen as you were after the first. The amount of haggling you can do is very much dependent on how close competitors vehicles are. With the dealer I went to the salesperson actually got another staff member to haggle with me where I ended up negotiating a higher trade in value than they originally offered as I was not in a hurry to buy and would have sold the vehicle privately had the offer not been upped.
Also test drive during bad weather. Yeah it sucks for us detailers but where you live, drive it in the snow, rain , etc.. Plus CLEAN UP your trade in! While you’re test driving they are checking yours. If it’s dirty, they’re checking how long it’s going to take me to clean it up.
Point number 8 about knowledge of the car I think it’s ok to act like you don’t much about the car to see what the sales guy knows about the car and if he/she is going to be honest with you.
I always play a little dumb on any purchase using a salesman. From solar panels to replacement home windows, to an add on sunroom. Despite having researched all these purchases ahead of time, I still played a little dumb. This enables you to ask beginner type questions and see what kind of answers you get. You instantly know if the salesman is being genuine or is shoveling horse puckey at you.
Having worked at dealerships for over 40 years one trick after walking around & maybe seeing the vehicle you’re interested in,, ask to see what they have in the back. Actually a lot of good units but just haven’t been through my bay yet.. the detail bay! Also another tip if you’re trading in- take your car to car wash. Good vacuum, clean windows & wipe off dash. Good outside wash. While you’re test driving they are checking over your vehicle. Just a thought…
@@ECPP - Your welcome! When you’re a professional auto Detailer, you really see how well (or crappy) a vehicle is. The last new dealership I was at no way would I pay their sticker price. Also if a person really wants that new car.. tell salesperson you want it waxed! You need every bit of protection on that BS clear coat! All through my years of detailing guys would ask what I used. I smiled sweetly & said ‘Now, a smart gal doesn’t give up her secrets’! 🌟
As soon as they go into the ‘sit down’ stage and start trying to talk numbers and ‘consult their managers’ and come up with excuses to move the deal away from a level playing field I just tell them straight. ‘Is this going to waste both of our time?’ Being so blunt with a sales person can sometimes work in your favour. I’ve also gotten up and left many many times and the initial feeling of awkwardness is eventually replaced with a feeling of contentment. I’ve even had the sales guys call me back in for a ‘talk’ the next day and 8/10 times in my experience you’ll get what you want that way. Remember, they’re targeted both individually and as a dealership, you’re not. Don’t bend just because you feel uncomfortable, it’s your money and never ever take their warranties
I go into the dealership I were my headphones and I dont answer any questions they ask if they keep bugging you walk away or say I'm just looking and dont give in to just any car. Look around and check out other dealers it's always worked for me.
I don't have much respect for car salesmen. I was wanting to buy a new car several years ago. The sales manager and several sales people were at the desk in the showroom. I asked him the price and he said "commit to buying it and I will tell you the price" They all laughed. I walked out, went to a different city and bought the same vehicle. Got treated with respect. Now recently, the same dealership that laughed at me, called to see if I wanted to sell. I said " commit to buying it and I will tell you the price". Felt good!!!
I suggest knowing what car you want and how much it should cost; staying on budget; negotiating reasonably;, at end, pay cash and sell your old car for cash.
One thing he didn't mention is that dealers are more desperate to sell you a vehicle than you are to buy one because they are paying floorplan (inventory tax) on each one that's wasting away on their lots collecting dust or frost, in this case. So when you find a car you're interested in, ask to see the dealer invoice and offer $100.00 over that. If the salesperson refuses to show the invoice or negotiate from it, then walk.
All this is true, but the pandemic turned things around. Bought a car a week ago, and got a HUGE deal for paying Cash. The owner of the dealership transacted with me directly. Dealerships are so scared now to shut down, or their money get held back because of Bank instability, they WANT spot cash.
I walked into my local dealership, after spotting a brand/model of car that I had been looking for online and they had one available. I told them that I had several prospects from different dealers, that I was serious about and wanted to check this one out. The sticker on the car was $25,000. After test driving it, I told them I had $20,000 cash, take it or leave it. They took it. Got an FJ Cruiser with low mileage and in mint condition. Because they don’t make them anymore, it’s now worth $30,000-$35,000. I got a great deal.
Ever wonder what might have happened if you had said you only had $19,500 or $19,300? If they take your first offer, it is because they are afraid that if they don't grab you and you get doubts they will have missed a really profitable sale. Even if it's a fair deal, they will protest and ask for more just so that, when they do accept it, you feel you got the better of them. A good salesperson will never, ever, agree to the customer's offer without putting up a stink, just to convince them that they have almost stolen the car at that price.
I was looking for an economy cart because I commute over 2 hours one way. I ended up settling on a 2018 Mazda 3. The dealer had the car listed for 19K. They ended up working their numbers, and they ended up wanting almost 26K out the door. I laughed and told them that was a ridiculous price for a late model economy car with 24k miles. I told the sales guy that I would look around and see what other deals I could get. Then the salesman gives me the old "I'm just going to let my manager know that you aren't happy and that you want to look around". They ended up discounting the car significantly with a 20k out of the door price. The kicker is I didn't settle for that price, I just put a small down payment to hold the vehicle for me and have gotten multiple offers from different dealerships, because they knows I have a car lined up at a decent price, and I've been using the situation to my advantage. This is great advice and thanks for the awesome video.
I used to take a short cut home through a dealership an would get jumped by 3-4 salesman. I went walking through dealership in bare feet walking my dog checking out cars ... Not one salesman came out to greet me🤔 I sold cars in the past and i would have definitely gone out and made a sale just for bragging rights 😂 came in barefoot and left in a new ride.. Don't want to be bothered by salespeople go barefoot.. Note i live in florida
Here's a money saving tip. If you can, get pre-approved at your own bank/credit union before going to the dealership. This way you have the option of the lowest interest rate. Dealers have multiple lenders and they may get an approved interest rate for you at say 3 percent, but tell you were approved at 4.59 percent. That 1.59 percent is extra money in their pockets, meaning more money your spending. I worked several years at two different new dealerships. I saw the dealerships sometimes make more money on the financing than on the sell of the actual vehicle. With this information, I'll let the dealer tell me their rate and then say I'll use my own bank at my rate. Chances are the salesman or finance guy will state he'll go check and see if he can do something better and at least match or give you a slightly better rate than your bank/credit union.
Yep, I had paperwork from BECU, their "better" rate was similarly higher as your example. I even showed them it and they claimed it could not be. I knew they knew they were lying. Anyhow, I walked out.
#11 - "I am not buying a car today." I sold cars for a couple of years when I was younger and never, not once, failed to close a customer who said this. They just told me that they don't have confidence in their negotiating skills and used that line as a throwaway. Salespeople ignore this line and keep going as if the customer is buying and they usually do.
I love seeing how people want to just cut to the chase and be transparent when it comes to buying a car at a dealership. But as soon as the dealership recognizes that and adapts themselves to that market and is also honest and transparent about sale price and value for vehicles etc, people get mad at that 😂
Well, I don't know much about the above situations, but, I walked away from a car "deal" because the salesman would NOT come down a measley 9.00. He asked me if I was seriously walking away because of that amount and since he would not offer to come Down 9.00, that said it all to me.
When I worked at an RV dealership, we had a salesman who was doing fantastic. He sold more than all the other salesmen combined. About three months after he left we found out the reason he left so quickly was because the IRS was after him and we found out his sales secret. Customers would come in and say "I'm here to have that awning installed now". We'd look up the contract, no awning listed. But Frank said if I bought this motor home I could get an awning. Well why didn't you get it at the time of the sale? Frank said it wasn't in stock. Eventually, any customer that came in and said that Frank the salesman promised them something, the owner just gave it to them out of good sales relations. What Frank did was promise the customer anything to get the sale and commission but not put it on the contract knowing that he wouldn't be around when the shit hit the fan. He collected the commissions, ran with them and left the dealership holding the bill as accessories and add ons were deducted from the salesman commissions as part of the sales expense.
Some very fair points, I'd add: know what a good car drives and sounds like versus a bad one. Know some key signs of a bad car, or dealer. Know how to walk away and think. I nabbed my rig off a heartbeat and I've been fortunate in that it runs like a top but it came with paperwork headaches for DAYS. If you're buying secondhand, know a thing or two about processing a car in paper and what it will take before you do. It feels like a simple purchase but it rarely is. What's the old saying? "Proper Preparation Prevents Poor Performance". Applies to the deal and the rig in question. To boot with secondhand off lot: they do a bit to make a rig look clean, but just enough to drive clean. Keep it in mind if you aren't a gearhead and keen on keeping your own up to snuff. It's not all smoke and mirrors, it's a lot of moving what makes a sale around. All cars need maintenance, it's what YOU will be fixing that needs to be known.
Queen Elizabeth herself went with an aide to buy a property and wasn’t recognized. She got a great deal. It was after the deal, they were told and she smiled and said “ now, if you had recognized me, you would have charged ten prices”.
Majority of car dealers are NOT your friend. The challenge is for you as the customer is to get the price YOU want to pay and negotiate on YOUR terms, not theirs. Thanks for this vid!! Learned a lot!! 👍
I got pretty damn lucky because I had a 13% employee discount. Made the out-the-door price about the same as sticker lol. Sticker doesn't include tax and all that junk.
At some point you and the dealer are going to be $500.00 to $1,000.00 apart on price. You have to get up thank them for their time and walk out the door. They will run to you in the parking lot and accept your deal. If not just keep moving, they call or not, but keep to your guns it is the only way to get your deal your way.
usually works. the last car i got was a little more than the first car i was financed and they gave me a quote of double the monthly payments and i played the "oh idk man" like a million times and had them bring it down a lot. some of these guys are crooks if you don't play it right. i also did walk out 3 times
I bought my first new car and watching these videos I've learned that I got ripped off bad. I thought the dealer was being great but now I realize they are cons
You are better off to go to your own bank or credit union an get a pre approved rate because dealers mark intrest up to increase their profit from the sale. Another thing I learned to do is ask up front what the documentation fee is. No reason it should be over $250-$300 yet some dealers charge $650 to facilitate the sale of their merchandise to you. It's one of the last pieces of information you will sign in finance an their last chance to increase their profit from the sale
I had a bad experience the other day. Went to look at a car I found online for a daily driver. The advertised price was $9300. After I test drive the car and go to make a deal it's suddenly $10,500. This homie doesn't play that game.
This video itself proofs all car dealers try to screw customers, NOT ONLY car dealers BUT ALSO most companies try to screw people. DONT TRUST anybody but yourself
Sad but true . All the more reason " If you really really don't need it DON'T buy it"
@@georgevavoulis4758 even you really need it go to dealer with your lawyer or with police and record all their actions
Exactly and In the back of my mind I think I knew that. The more videos I watch about car dealers the more on the defense I am.
@@timrich5344 jesus, you all are acting like you have to prepare for war to buy a car. Just don't be stupid and do YOUR OWN research ACCURATELY from GOOD sources.
@@koreysederburg4396 Trust me you have to actually prepare like you are preparing for a war. Stupidness is a good word to describe someone who bought 7 cars in a year and lost thousands in all fees and everything
1) I’m paying cash, 2) I need to buy a car today, 3) I need to make this fit into a budget, 4) I’m a proctologist; I’m a doctor, 5) Woe, this thing is great! 6) I really love this car! 7) I don’t know much about cars, 8) Never admit to having a trade, 9) I don’t want to be ripped off, 10) My credit really isn’t very good.
Thanks
I'm still gonna tell them i'm a proctologist cuz it sounds funny
I'm still gonna tell them i'm a proctologist cuz it sounds funny
It doesnt matter one hair if u mention trade before or after. If you negotiate a good price first, then talk trade, they will still fuck you by giving a low ball offer for your car
I worked for a Honda dealership that automatically held back 500 for the trade
To boost their bottom line. So the sales guy lies to the customers when he says “thats all its worth”, knowing full well they held back money. Its a slimy business
@@Mrtellitlikeitis I read a penny-pinching book decades ago. The author suggested that people should buy a high quality used car that more or less keeps the same body style for a long time, and then drive vehicle into the ground. In other words, you can save money by driving the same car forever.
At the end of the day, the most important thing is to be able to walk away if you don't like the deal. No need to waste time on learning negotiating skills - just be prepared to walk away, that is your most powerful leverage.
Big facts,,thank you my thoughts
You have to know what you want to pay first. Most people don't know
Agreed
That's what I did today when the question of a discount was only 210 bucks. Greedy bastards
Wrong!!!! They commit fraud all the time, they deny you submit a conditional acceptance and see how quick they change their mind. I don’t sue I LIEN
If you need a car within 48 hours, go to a car rental place like Avis or Hertz. Rent for a few days until you feel calm instead of panic stricken.
when you walk in to a dealership, never ever close a deal at same day. also never ever go through their financing rather go to a Credit Union bank. Lastly and most importantly do your research, do the math and be prepared . I would never ever forget the Finance Manager telling me, “you beat me man.”
I have done the same
I had a honda dealer try to rip off my girlfriend. That guy was insulting and said I didn’t know my math. I tried to walk away and eventually got the deal I wanted.
That means he beat you.
With good credit, research credit union interest rate and have finance beat it. Then “decide” to pay cash for a portion of if possible, so the interest rate you pay for the loan is lower as well.
I have done great by knowing what rate the credit union would give me and had the dealer beat the finance rate, also if buying used find out how many days the car has sat on the lot you might get dealer auction pricing on that car. The dealer doesn’t want to pay fees and expenses to send the car to the auction if it’s sat on the lot long enough.
When shopping for a car, shop close to the end of the day, end of the month, and end of the year. Helps if the whether is poor as well. Salesmen are human, they want to go home after a long day/month/year same as you. They are more inclined to simply give you a whatever-just-buy it price.
Not true at all, coming from a salesman
SALESMEN do NOT decide how much the final price is, the General Mgr and the Finance guy do that.
So don’t fool yourself that you can find a tired, hungry salesman who will give you a good deal.
do you take less doing for your job ?????????????????
@@robertlysek6735 Sorry but I have not the slightest idea what that means.
@@timconrad1699 Agreed, also coming from the salesmen. Best thing to do is look at the sales bored, see which sales person has the least sales. Ask for that person.... They should be hungry enough to drive the living shit out of the managers 🤣
I've noticed that when you trade a car in then the dealer says it's the worst car he ever saw and it's worthless.
After they buy the car off you for nothing and they need to sell it then it suddenly becomes the best vehicle on the market and really great value.
It's just terrible.
Actually they often offer more than the book price for the trade in. That way the victim thinks he is getting such a good deal that they forget that they are paying way more than the car you are buying is worth. They will call your car a clunkers and offer a low price if you are selling instead of buying.
Sometimes you gotta take what they give you though. I drove my 2001 325i into the ground…230000 miles, needed new rotors, shocks springs shot, etc. was happy to get 600 bucks.
@@brianmiller5444 in that case, you drove out all of the value of the car.
No doubt. But I am not handy and I was quoted 5 grand to do everything. So…
Last year my oldest son decided to buy a new Ram pickup when the dealerships were shitting bricks over miserable new car sales. All the dealerships he visited refused to offer him anything for his 2005 Dodge Neon since it looked ghetto with plastic taped over the driver's window (he had a new mechanism in the trunk), had milky clear coat over the top of the car, needed a TB kit with 122K on the OD and two new rear tires. He only wanted a plain jane model and all kept steering him towards the high dollar models with all the whistles and bells. He visited them over a two week period before one dealer made him an offer he couldn't refuse so got a real nice Ram at a deep discount along with the dealer's lifetime warranty. He had it financed thru his bank and gave me his Neon, which we got for him in 2007 as a HS graduation gift. He got a call from the dealership in December that offered to buy the Neon for $400 if he still had it. At that time the car was only worth $1400 if in good condition on the local market. I checked out the prices again this July to see it was now worth $3000.
Seven years ago I was ready to trade my Subaru for a new one for the backup camera and keyless operation. The salesman dismissed my trade saying, "We're just gonna wholesale it," even though it was top of the line with only 75,000 miles, so I walked out and looked at Toyota RAV4s. That salesman was the senior guy, and after we worked out exactly what I wanted and he checked to see when one was expected in, he sent me to the "negotiator", who was an obnoxious parody of a car salesman, loud and pushy. So I walked out, and when I got home I called my salesman to explain why I left. He asked me what I expected for a deal and I told him. Half an hour later he called back and said, "Your car will be ready Friday." Stand your ground, and if they really want to sell you a car they will.
That's the key, make THEM desperate. You're not stuck there with them, they're stuck there with you.
In my country, and from my own experience, its best to buy a car when you know car dealers are about to count their quarterly quotas. This is when they're trying to make that "one last sale" before the deadline to boost their numbers. They won't be focused too much on how much cash they can squeeze out of you but more on how quickly they can increase their sales numbers before the deadline. They kept calling me to give better discounts when i played hard to get 😄
💯💯💯
That is great advice!
How do we find this out?
You are the lucky one .
Playing hard to get means you wore a saddle once and took out a life insurance policy.. going going gone BUY BUY BY.
People treat salesmen like trash and then give away a fortune to finance office. The finance office is where you get robbed.
100 percent
You all right!.
You got that right! Finance guy is the biggest crook in the dealership.
Also the guy that adds extra warranties
Actually my finance guy got me a better interest rate than the pre-approval I came in with.
Good point on the paying cash thing. But one time I withdrew 6K in cash (I don't recommend this by the way, it can be dangerous), and let the dealer know that I wanted to give a large cash down payment. Well we got in a standoff on the final price, I pulled the wad of cash out, their eyes lit up, and I said, I'll go across the street to the other guy. They nearly fell over each other to keep me from leaving, and got me back in to talk turkey on the deal. I finally got a fair deal for me, and a fair one for them. Green cash visually, does something to the human psyche.
Very smart!
Most dealers don’t want to handle large amounts of cash.
"Cash" does not necessarily mean green paper bills. A check is also considered cash. What the guy is talking about is immediate payment (paper bills, check, money order or cashier's check etc.) as opposed to financing.
This must have been in the 70s/80s/90s... today with electronic filing a dealership has the entire purchase price wired into their account from the bank before you leave the lot so your 6k doesn't mean shit to them financially. Back in the day when it might be 2 weeks until you get funded from the bank dealers would have cash flow issues (or maybe the owner had a bad drug/hooker problem that he needed the cash for) in today's dealerships pulling out 6k cash just tells them you're serious... if their attitude changed it's because you probably gave off a vibe that you weren't serious about making a deal right then and there. Coming from someone who worked in the business for a decade holding many different sales and sales manager positions.
@@anaphylaxis2548 No, they don't. Heck, most business's today don't.
i love telling dealers that i prefer cloth seats (which is true), and watching their soul leave their body
Lol, that’s a good one for sure
Yea I like clothe seats to keep my butt warm 🍑
You should see them when I said, " No clutch pedal, no deal. Period."
I'm a car salesman. There is no benefit to selling a car with leather seats
@@daveavemian5940 bullshit. You're not a car sales puppet
DON'T RUSH!!!!
I found a car I wanted and in this case, I had cash and told the dealer how much I had but he wouldn't work with me. I didn't need it right away so I walked. Left my number with him and he called me 2 weeks later on Sunday afternoon because the dealership hadn't sold a car all weekend. They wanted 24k for it. I paid about 18k which was the private party Blue Book and exactly 20 OTD.
Absolutely right and if you are in a rush, you will make a hasty buy for sure
A dealer once told my Dad that the car he wanted was their most popular model, so they really couldn't give discounts, but they could be generous on the trade, a 1970 Opel Kadett that Pop had driven the last block on the parking brake. Pop had slid across and gotten out the passenger side, and the salesman said "It looks like you need a car."
After negotiating the purchase of the new '85 model (and the dealer did give him more for the Opel than Pop had paid for it new), Pop accepted the keys to a fully loaded Dodge Omni and the porter got into the old car to release the parking brake and drive it to the back lot to be wholesaled. When the porter got in on the driver's side with the door open and seated himself at the wheel, the left-side frame rail broke. All that had been holding that car together was the door hinges and latch.
$200 of scrap metal
So glad my dad taught me all 10 of these and more. My son at 18 knows exactly what to expect at a dealership.
Cheers
#8 Is 100% true. If you do anything, I would park your car a half a mile away and NOT let the dealer have any access to it until you're sure you want the car. Also, never let your guard down. The sales person is just the mini-boss, the *finance person* is the final boss and they will screw you over if you let them. Always be in position to walk away until you're 100% satisfied with what they offer you and be prepared to fight the finance person because they usually are *NOT* your friend.
Or do what I did when I went to go look at one today take a family member with you and if they ask if it's your car just tell them no it belongs to who ever you brought with you.
"The guy in the back room wants in your back door"
F&I are where the real slithery ones are. You can get every kind of useless add-on imaginable, including paying 1,000 for a a peel-away sticker on the side, "protection" packages that don't last 3 months, and gap insurance that's useless almost everywhere (might be a good buy when the car bubble pops)
Yep, or park at the far end of the lot.
Some dealerships treat their inventory as a money making piece of metal with wheels, despite the sweet engineering behind it. Don't give them the satisfaction. Play the game right. It's all in the details. Great vid Mark. Kudos!
Thanks so much. Agree, to them it’s just a business and a consumable commodity, but these are the sources of passion for us. Have a great one.
it IS a money making piece of equipment on wheels. Dealerships are a "for profit" business and operate as such. People are so quick to pay 10-15k list on a house they later find is riddled with termite damage and call a dealer making 1500 on a 40k car a crook.
Starbucks and all coffee shops treat their inventory as a money making piece of coffee bean with water. Don’t give them the satisfaction. Versace and all clothing stores treat their inventory as a money making piece of fabric with hangers. Don’t give them the satisfaction. Oh and how about this? Pet stores treat their inventory as a money making piece of meat with a soul. Don’t give them the satisfaction. In fact, don’t give any businesses on Earth that plan to make a profit any satisfaction, after all, profit is the root of all evil. Play the game right, stay home and use your money to wipe your ass, because now it’s just a useless piece of paper without purpose. Good luck with life.
@@ECPP So how do you want dealerships to view themselves? A passionate charity establishment? Without profit, do you think cars would be manufactured? You’d be driving what the Flintstones are driving.
Most gearheads don't go into sales, they go into maintenance/modding. Most salespeople don't know about cars, they just regurgitate whatever the OEM packet tells them to say about the latest models.
Walking away has been my negotiation strategy. Works everytime. Had salespeople chases after me as I leave their lot.
Great approach. I have done that before with some success too.
Yes. I make sure they have my cell phone number and I walk away EVERY time after test driving the car and giving them the dollar amount that I think is fair for the car. I never sit in their talk-room. I just wait for them to call me.
I love how all these lines are literally the exact things people say and do checking out cars at the dealership
Yeah
I straight up cut through the B.S. I'm a cash buyer, and I do all my own work. I go straight in already knowing what the value of the car is according to them ( usually NADA guide ). Due to researching the car, I already know what common problems to look out for, plus just basic car issues. Leaks. Brakes. Suspension. Timing issues, ect.
I look over the car. Run a diagnostic on it, and test drive it. If I'm still interested, I go straight to the point, and give a final offer which is always less than the asking price. If they say no, than see ya later. I'm on to the next vehicle.
If you can't pay cash, and need to finance, go in with the same attitude, but Don't finance through the dealership. Get one approved for a certain amount elsewhere. Know the value of the car your wanting to purchase, and the value of a trade in if tou have one. Personally, I think trading a car in is the worst option. It's usually better to sell it first if you can.
All good advice.... Except there is nothing wrong with financing with the dealer. The dealer can get better interest rates than walking into a bank can get you. Just make sure the dealer is not holding to many points on you.....
You are right about the trade in . I recently tried that. I had a better car than they had and wanted the one they had because it was a niche car that I liked. They tried the isolate and let me appraise your car schtick. Unluckily for them I worked for a used auto auction for 8 years and knew all the dealer tricks. I stood firm on what I said my car was worth. I had already gotten it appraised beforehand. I also own my car and owe nothing on it. They tried many times to get me to come to a consensus I refused. Finally the sales guy gave up and was like what is the number you will pay. I was like I'll pay Tax, title , and liscense. Even trade. They had balloned the price of the car up to the level of my car which was younger and had less mileage. They wanted my car badly but I was like I will take my vehicle and do business down the road with carmax. They will pay my price. Bye! Basically sell your car then just go buy it. Always leave if it gets shady. Not worth your time, remember you have all the power.
@@Dropkickpunk76 exactly! That's an awesome story. Be as prepared as you can, and have as much knowledge as possible about your car's value.
Every time my dad used to go and buy a car, he'd go in acting like a "poor & dumb" black man (this was back in the 80s & 90s when we lived in GA). He was a veteran, had excellent credit, and always seemed to outwit the dealer. He'd agree to their ridiculous financing terms as long as he could get the car waaaay below MSRP. Then he'd stroll in with a cashier's check for the FULL amount when the first monthly payment was due.
So yeah, even if you're paying cash, if you can get a better price via financing, nod your head and sign the papers and pay it off @ your first bill.
I enjoy customers like yourself. no muss, no fuss, just here it is, take it or don't. thank you for not playing games.
Exactly, that's what I did last month when negotiating for my 22 Corolla that we just bought. Even during the current conductor chip shortage, I was casual and didn't let them jack me. I was able to trade a vehicle that I still owed almost 10,000 on, and payments were $500 a month. I financed it through my bank with zero down and good credit for a payment of $335 for 60 months.
@@Jj-gi2uv Yeah thanks man, she's also an LE and am really liking it so far.
It's great that you still have yours and are awesome little cars, did you buy it new ?
The MSRP on LEs start at 21.3 plus $500 for tint, which is a must living in Arizona. Unfortunately since this shortage of new vehicles, I pretty much paid sticker and wasn't able to talk to them down some, but they didn't try to raise the price of it and gouge me either. Which many dealers have been doing I've heard and was happy that they didn't try to put me through that crap, plus I got lucky to get one that was built in Japan. From what I've read, over 70% of new Toyotas in the US are built here and the rest are imported. I didn't know anything about that and just read about it recently, so it wasn't a request and was totally random it worked out that way lol. Yeah I like to watch the car care nut also and has a lot of good info on there. Lol if you're into Toyota, you should watch Scotty kilmer's channel and is hilarious. He doesn't just focus on Toyota though, they are his favorite and pokes fun of junk automakers and is very informative, but also funny and entertaining
100% lies.
Your name rank and sex?
@@independent2368 was this a local used car dealership or a certified name brand dealership?
The "conductor chip shortage" is fake unless you want a high end graphics card.
When I purchased my brand new BMW 540i xDrive M Sport last year from an authorized dealer....it took me over A MONTH before we agreed with the price. On the final negotiation date, I went to the dealership wearing my worn looking gray Old Navy fleece and olive khaki pants.
Bought a F150 8/20. Sales guy told me to get the incentives I would need to finance. "Just refinance in 3 months". The finance person "you are not going to like this interest rate, 7.85%" Refinanced to 2.05%. Great advice
Thankx for your pointers!
I’ve already messed up by telling the dealer online, what I have for a trade-in.
But, I have learned from you, to keep a poker face. Not give any details about the fact I want to pay cash, and to curb my enthusiasm. Wise.
I will treat the sales person with respect & kindness.
I appreciate your video.
Well done olé’ chap👍
I was negotiating around three weeks! If I went further, think I would have got his trousers too🤪
No matter what it is. Find the right person you can talk to and your gut is feeling good. Be polite, confident and have a lil bit of knowlege what you talking bout. Most of the time you will get a good deal (or at least don't get screwed).
Say whatever you want as long as what you say benefits you.
The car buyer owes nothing to the car sales person. The sales person is nothing more than an annoyance to the car buying process. Any car deal is actually determined by the car buyer and the sales manager. The sales person is merely a conduit between the buyer and the sales manager.
Most guys I know that were or are currently selling cars actually like cash customers, They say its a real pain trying to get financing for some, or payments where they want them. The same people keep coming in and out, and back again, and again, wanting too much for their trade-in that they're upside down on. A good cash customer may not make as much for the dealership but takes less time to work the deal.
The credit thing happened to me when knowing your credit report was a secret that only dealers had access to. I paid a whopping interest rate on a used car because my credit “isn’t as good as you think”. My ex husband looked into it recently and told me my credit score at the time was over 800. Always know your score….those interest points add up.
@Ronald Reagan Yeah, l agree. I find that very hard to believe!
@Ronald Reagan Yeah, agreed!
They so do this. Acting like your credit score is invalid. Also when you by using their loan company make sure to ask if the interest rate is locked in or if you can save on interest by paying off eairly.
I was told my score was lower than it was. I knew he was lying
Know your own credit, just don't tell them. Longer terms aren't bad, other than the fact that they almost always do higher interest rates with longer terms. If the "true price after finance" is something you can live with, and you've got a car that you will keep for 10 years or longer, go ahead. Just know that it won't be the best deal for you. But if it's the car you want, it might be the best deal for you, for that car _specifically._
Just try to say as little as possible and keep a poker face. That's the right things to do while in dealership.
Probably easier nowadays with the COVID pandemic. Keep your mask on to keep your expressions hidden.
Just go in and point at a car, then wait
Good one. Also soil yourself. They will want you out of there as soon as possible.
I adhere to the George Costanza school of buying cars:
George: "Look at these salesmen. The only thing these guys fear is the walkout. No matter what they say, you say, 'I'll walk out of here right now.'"
Salesman: "Can I help you?"
George: "Hold it! One more step and we're walkin'!"
czcams.com/video/R0bdJWSllfc/video.html Yeah, George is great ! 😆😆😆
@@apexjoe4769 "Did you call Toyota on us?"
"Yes."
"Why?"
"Because you've been jerking me around like (insert reference to onanism here)."
"Well, we're not going to get that truck for you now."
"Big deal. You've been promising me 'next week' for a month now, and when you told me Next week again, I was more than fed up."
The Tacoma had proven to be less than comfortable, anyhow
The Nissan dealer went so far as to tell me that the Frontier model and trim level I wanted was not available, and that no such vehicle had ever been built. I found it online (albeit five states away), paid by wire, and had it transported to my door. I then drove it to the Nissan dealer, asked for the salesman who had dusted me off and the dealership sales manager, and walked them out to the vehicle they had told me didn't exist.
"You wouldn't work with me, so I found somebody who would."
So basically tell the stealership I hate this car, I want it for free, gonna finance this for 7 years with zero money down, I’m on nutritional assistance, divorced, 9 kids, unemployed, cough cough...got the ‘Rona...
lol
Good scenario!
You are my best friend 😅😅😅👏👏
I went in got money of car on finance. Went home phoned the finance company paid the car off in full. Saved thousands.
Thats the smartest thing I ever witnessed thanks
Ok that's what imy thinking of doing! Thanks cause I was wondering about that
I bought a $36 k car for $28k on black Friday. Took their financing of 7.25 % to get the price down. I have a 820 credit rating😄
The next day I went to my credit union and had them buy out the loan at .9 %.
Never made one single payment to GM Financial and saved all that money. Bazinga!
And the dealer got a charge back also I bet. Usually you have to wait till you get your first statement to pay off the loan.
I certainly have made mistakes in the past when buying vehicles, but i have learnt from my mistakes and i am thankful and appreciative of your very good advice. Thanks mark, your advice is very helpful.
You are very welcome. I do appreciate your positive response. I just want to build a well educated community about premium car ownership and buying so we can have fun and for a reasonable cost.
@@ECPP Thanks mark.
"I've bought'n"
Nice
First two words in the video
I’m hella mad because that was going to be my comment.
It's a rural Midwestern, or in his case, Gear Head wording, love him!!
also "that dollars"
If you know exactly which car you want check garage stock to see if there is an older,cheaper car similar to the one you want that you can look interested in then guide the salesman to the one you really want as though you are being pressured into an over your budget buy. Surprising how helpful they become.
I accidentally applied some of this principles the last time I bought a used car, the sales man started telling me how nice the car looks and that he was tempted to buy it himself, I started walking around the car checking out the paint and started pointing out all the little defects I immediately started looking disappointed, I took the car for a test drive and came back and told him,I don't know the engine sounded too noisy and that my old Camry was way more smooth, he told me that the Corolla had a smaller engine and it was normal, he actually walked away he could tell I wasn't too impressed with the car I put the car on ramps and checked all over for leaks with a flashlight I did this after driving it hard for 20 minutes, I was actually impressed with a lot of things about the car so I ended up buying it, the car is actually pretty awesome the engine actually feels stronger than my Camry and after 5 thousand miles the oil still looks clean it only had owner and he bought it from the same Toyota dealership I bought it from lol. I'm looking for another Corolla but I don't really need it but another thing I have learned is to buy a car when you don't need it because is easier to walk away if you don't get a good price, if you wait till you need one chances are you're going to get a car you'll regret buying. But the key is not too look like you really interested or excited about the car respectfully point out what you don't like about the car if the salesman talks too much and doesn't give you the space to look at the car, it worked for me lol.
I just wanted a second car, pretty easy to not get excited about having another car.
If you are taking these suggestions in the shortage that every car manufacturer is experiencing, good luck getting what you want. I wish you would make a video of you going to a dealership right now and teach every one how your negotiating skills work when there are hardly any vehicles in inventory.
my have things changed
@@ECPP had a stroke reading this
On point I just bought a car this year and it was the first time they wouldn’t budge a inch MSRP PERIOD
THEY TOLD ME IM LUCKY THERE NOT ADDING 5,000 over?
Then I wouldn't buy the car. I don't care what the state of the world is, I don't care that there's a chip shortage and the dealer has no inventory, none of that is my problem. If they want to make the sale, then they will. If they don't then I will go try a different dealer until my terms are met. You act like you have to buy the car at their price because of the chip shortage.
@@kingbran923 the best thing you can do is wait. Good luck 👍
I make a few of those mistakes in the past. Say that I will pay cash,and get to excited. now I understand. You are sooo right.
I'm glad I watched this video today,I'm going to buy a car this afternoon. I hope to get a good deal. Thank you
Great information, thanks. One comment though. In the past I've driven cars until they cost more to tow away than they're worth. This means that when I need a car, I need it soon. Here's what I say: "I have narrowed my search down to these specific (2-3) cars. I like them all equally. I *am* buying a new car by the end of the week. Whoever gives me the best deal is the one I'll buy." They fall over themselves trying to out compete the others to get a sure sale. Better that they fight each other than argue with me. Of course, I really do need a car soon and I'd be happy with the any of the finalists. This really took away the stress of negotiating a price.
I think telling the sales person what he or she wants to hear can be great fun. Make them think they have a live one on the line and then drop the reality boom.
Why waste people's time like this?
@@timconrad1699 they waste my time...
Right😂😂😂😂
Focus on the total price of the car first not just the payment
I’ve been in sales/sales management for 28 years. However, I’ve never enjoyed or been a decent haggler. My ex wife (who I hired as a salesperson when we first met) was unreal! She went at it for 3 hours and we showed up 2 minutes before they were closing for the day. We got up twice to leave, the last time we made it halfway out the door. With her effort we paid $16k less than sticker. She even demanded the $700 tag fee etc to be waived. I watched this video many times. I did my vehicle research and I walked in on the last day of the month AND the quarter on 3/31. The salesman chose to say “there’s no way you are leaving here without a truck”. Why he reinvigorated my confidence? No idea. Lol Anyway I navigated the entire convo with one statement “once you all provide this deal/price I can’t refuse? Then we will work out the details. He went in and out of the credit mgrs office and back 5/6 times. I’d hit him with it again! He tried and tried to navigate financing, credit, cash down etc etc but I just politely said “I’m waiting on that number I can’t refuse or else I can stop wasting our time here and go.” I wound up with an unbelievable deal in a vehicle I was more than happy with. Thank you so much for the tips here and on your others! Even an old sales trainer can use some tips sometimes. Awesome stuff!
Yes! That’s what I do, 2 hours after closing they are ready to make a deal!
Great advice! I was especially impressed with #1, why not to tell the salespeople that I'm paying cash at the beginning. That explains why when I went to a Harley dealer to sign the papers on a Sportster that I purchased after we agreed on a price, they questioned me on why I didn't want to finance the bike when I told them I'm paying cash.
Even if you have the cash - always finance it - get a better deal, then just pay the thing off full in cash.
No mames guey
@@rguimond Hey, I put half down once making it back to financing, I then paid it of in two years (4 year term) at 1.9%, a no brainer.
I made all those mistakes. But, they always lowered the price of the car and I always get no more that 2% on bad credit. Maybe because I kept hesitating and trying to leave. Then I also mention other dealers and other brands I am interested in.
Great advice. Would like to add #9 should be #1 with the caveat NEVER, EVER give the dealer your keys, now you’re trapped there and you may have to fight to get them back. I’ve been there.
This actual happen to me.
if we cannot drive a trade, we will refuse a trade. we need to test drive just like you do. unless you want us to offer $1 for it. after we appraise the trade we give the keys right back to the customer.
@@jasonallemani3350 why do y’all like to scam people?
@@lionperformance4777 ok, i'll bite. how exactly are we scamming people?
Call 911 if they won't give your keys back
One problem: I typically buy collector / future collector’s cars that maybe 50 other buyers have called in on. All you can do is prove that you’re a reasonable buyer and can qualify for debt or have cash.
Like a good crown Victoria Police car
I just realized I need to practice not being excited 🙄 Now I understand why my hubby acts as you said to😏 I’ll follow his lead😄
It's easy to get excited over a car. Once after a car salesman told us the price of a car, my wife said " is that all?" The salesman said that he could raise the price if she wanted. Anyway once she said that I knew we had to leave right away and never come back. She got a verbal spanking later but it made for fun conversation around her brothers in later years..We were very young.
Man I'm so thankful that you're creating these videos and EDUCATING buyers. Thank you sir.
My pleasure! Thank a lot for watching.
All good points except when we are dealing at a time with a computer chip shortage resulting in low inventory of new vehicles and preowned cars.
Exactly. There is price gouging everywhere and a lot of people have a lot of money and the dealerships know it. They don't have time for my negotiating. I can walk away and they will hold the door open for me on my way out then hold the door open for the rich client coming in to give the dealershio what they want.
No this guy had terrible points teaching people to lie. I sell luxury cars, and if you avoid important questions or lie, I’m not risking my life or a new car with a liar in a test drive on a $100,000 vehicle. You will be escorted out or politely denied business. One of the most silliest videos on CZcams, although the intent was good.
@@jimc4839 . Exactly for now at this time of shortage of computer chips and other components to keep cars rolling out . They raised the price sky high and offer an discount to make customers feel they got a good deal or at least to make people to think so but actually the new price is already way more than that of before the pandemic.
Excellent advice for practically anything when you need to talk to any sales person.
I've owned 24 cars since I got my licence at 16 in 1997. Paid cash for half of them, and new cars. Always have gotten cars at cost or below. So I'll disagree there. But totally agree you never give them your budget. You let them give you the figures first. Otherwise you'll forfeit a better deal. But here in Oz, you usually have to pay a fee to finance. For them to organise it. Or a monthly fee for the life of the loan. But I'm from Canada/USA, just an expat in Oz.
Oz?
@ the land Down Unda 😉
I know many people that tell the dealer that they only want to pay "X" amount per month. Let's say $400. The dealer may have already worked it out to $350 and all you did was invite him to raise it up to $400.
Know your credit score before walking into a dealership and don't let them run your credit until you are ready to buy. More importantly, they are allowed to bump up your interest rate 2-3 points which is profit for them, so if you are financing, don't finance with a dealership with the only exception being a 0% dealership special. Keep in mind, each time you visit competing dealerships, and they run your credit, it negatively affects your score. Either way, the Finance manager, fancy name for "back end" salesman will say that we do a "hard credit check" so the credit score that you walked in with isn't accurate, that's fancy baloney.
Like he said in this video, zero out your emotion. This is business and if you are shopping with your spouse, together you should understand that there is no room for emotion, don't show it, as a matter of fact, you can play good guy bad guy, you'll notice that the salesman will be divert his attention towards the good guy, it's a fun game, and it works.
Car dealers are very well trained to "overcome" objections, put you in a car that you actually didn't want when you walked in, and get your deposit same day and even offer to have you drive it home that afternoon. Why? It's called the "ether" effect. They want that car off the lot while they have your attention, what they don't want is for you to go home and think about it because many times, and it's human nature, once your home you start second guessing yourself and many times change your mind. Car dealers are very aware of this, that's why the least they want is for you to make a monetary commitment in the form of a down payment if you're not "taking it home today".
That money down to them is the precursor to a hostage negotiation. Many buyers are good people and once that deposit is down the salesperson adds in the "friend" aspect, and you don't want to get your deposit back and disappoint a "friend", plus, it's not going to be easy to get it back because once you go back to the dealer, expect a swarm of extras to step in and try to keep your business.
Learn the word "no". Many people hate saying "no" and at a dealership where you're sitting at their desk, they're smiling and brought you coffee, found common ground and shared their life stories, you are compelled to help the salesman. Yes, they flipped the table on you, now you want to buy the car to help them out and you don't want to disappoint him/her.
Generally speaking, a dealership has more arms than an octopus. No matter what, they will find a way to move enough numbers around to get you to drive away with their vehicle.
What I just wrote is just a small portion of the car buying experience, there is so much more.
From what I've learned (in watching 100's of 'how to buy a car' videos), the FM has the last word on the price. The salesperson is the one to get you IN the car. So I had fun with mine when the car I plan to buy finally came onto our local lot. I took him for a ride! I've been researching the car for a year now. I told him all the cars specs, features, set up his massage and ventilated seat, and used some of the infotainment features. By the time I was done, he asked if I needed a job because I sold him! 🤣 Videos like this have made me a smart car shopper! Thank you so much!
That’s awesome. Thank you very much for sharing. You are right, knowledge is power
I just bought a new truck.
Dealer had $1000. incentive to finance so I did.
I made one regular payment and paid the truck off when the second payment was due.
Great strategy.
Smart buyer
You would think they would have an early exit clause to prevent that.
I work at a dealership where the salesman that also does finance. I am happy to say that none of these statements have any effect on me or my customers. I literally just don’t have time to play games. I am very fortunate to work at a lot with enough traffic that the next deal is walking through the door.
I love his personality, honest bottles used John’s hilarious
Thank you very much
"I really need a car today!" as the salesman salivates. lol
One thing you missed was about test driving and I would recommend having 2 but before you have the second write down what you want to experience from the second test drive and ask the dealer if its ok to do it. At the end of the second test drive you will know if you are still as keen as you were after the first. The amount of haggling you can do is very much dependent on how close competitors vehicles are. With the dealer I went to the salesperson actually got another staff member to haggle with me where I ended up negotiating a higher trade in value than they originally offered as I was not in a hurry to buy and would have sold the vehicle privately had the offer not been upped.
Also test drive during bad weather. Yeah it sucks for us detailers but where you live, drive it in the snow, rain , etc..
Plus CLEAN UP your trade in! While you’re test driving they are checking yours. If it’s dirty, they’re checking how long it’s going to take me to clean it up.
Point number 8 about knowledge of the car I think it’s ok to act like you don’t much about the car to see what the sales guy knows about the car and if he/she is going to be honest with you.
I always play a little dumb on any purchase using a salesman. From solar panels to replacement home windows, to an add on sunroom. Despite having researched all these purchases ahead of time, I still played a little dumb. This enables you to ask beginner type questions and see what kind of answers you get. You instantly know if the salesman is being genuine or is shoveling horse puckey at you.
Having worked at dealerships for over 40 years one trick after walking around & maybe seeing the vehicle you’re interested in,, ask to see what they have in the back. Actually a lot of good units but just haven’t been through my bay yet.. the detail bay!
Also another tip if you’re trading in- take your car to car wash. Good vacuum, clean windows & wipe off dash. Good outside wash. While you’re test driving they are checking over your vehicle.
Just a thought…
Thanks for sharing
@@ECPP - Your welcome! When you’re a professional auto Detailer, you really see how well (or crappy) a vehicle is. The last new dealership I was at no way would I pay their sticker price.
Also if a person really wants that new car.. tell salesperson you want it waxed!
You need every bit of protection on that BS clear coat!
All through my years of detailing guys would ask what I used. I smiled sweetly & said ‘Now, a smart gal doesn’t give up her secrets’! 🌟
Go in with same level of excitement as Mike Ehrmantraut from Breaking Bad. Watch some episodes before stepping foot in a dealer.
love that show
Yikes. I've said three on this list via email talking to a sales rep and I haven't even stepped on the lot yet🥴
As soon as they go into the ‘sit down’ stage and start trying to talk numbers and ‘consult their managers’ and come up with excuses to move the deal away from a level playing field I just tell them straight. ‘Is this going to waste both of our time?’ Being so blunt with a sales person can sometimes work in your favour. I’ve also gotten up and left many many times and the initial feeling of awkwardness is eventually replaced with a feeling of contentment. I’ve even had the sales guys call me back in for a ‘talk’ the next day and 8/10 times in my experience you’ll get what you want that way. Remember, they’re targeted both individually and as a dealership, you’re not. Don’t bend just because you feel uncomfortable, it’s your money and never ever take their warranties
I go into the dealership I were my headphones and I dont answer any questions they ask if they keep bugging you walk away or say I'm just looking and dont give in to just any car. Look around and check out other dealers it's always worked for me.
"What's it gonna take for me to drive outta here in this car?!"
Good morning Mark, great advice as always, stay safe, Hi to your family 💖🌹😎
Good morning Scott, thanks and you also stay safe and enjoy the season as we wind down for Christmas.
I don't have much respect for car salesmen. I was wanting to buy a new car several years ago. The sales manager and several sales people were at the desk in the showroom. I asked him the price and he said "commit to buying it and I will tell you the price" They all laughed. I walked out, went to a different city and bought the same vehicle. Got treated with respect. Now recently, the same dealership that laughed at me, called to see if I wanted to sell. I said " commit to buying it and I will tell you the price". Felt good!!!
I suggest knowing what car you want and how much it should cost; staying on budget; negotiating reasonably;, at end, pay cash and sell your old car for cash.
Thank you
One thing he didn't mention is that dealers are more desperate to sell you a vehicle than you are to buy one because they are paying floorplan (inventory tax) on each one that's wasting away on their lots collecting dust or frost, in this case. So when you find a car you're interested in, ask to see the dealer invoice and offer $100.00 over that. If the salesperson refuses to show the invoice or negotiate from it, then walk.
Invoice for a long time now have been inflated!
All this is true, but the pandemic turned things around. Bought a car a week ago, and got a HUGE deal for paying Cash. The owner of the dealership transacted with me directly.
Dealerships are so scared now to shut down, or their money get held back because of Bank instability, they WANT spot cash.
Thanks
Good info. Never thought of that. Did you immediately say "I'm paying cash"?
You were in that once in a lifetime, were add on ancillary items included?.
I walked into my local dealership, after spotting a brand/model of car that I had been looking for online and they had one available. I told them that I had several prospects from different dealers, that I was serious about and wanted to check this one out. The sticker on the car was $25,000. After test driving it, I told them I had $20,000 cash, take it or leave it. They took it. Got an FJ Cruiser with low mileage and in mint condition. Because they don’t make them anymore, it’s now worth $30,000-$35,000. I got a great deal.
Nice
Ever wonder what might have happened if you had said you only had $19,500 or $19,300? If they take your first offer, it is because they are afraid that if they don't grab you and you get doubts they will have missed a really profitable sale. Even if it's a fair deal, they will protest and ask for more just so that, when they do accept it, you feel you got the better of them. A good salesperson will never, ever, agree to the customer's offer without putting up a stink, just to convince them that they have almost stolen the car at that price.
I was looking for an economy cart because I commute over 2 hours one way. I ended up settling on a 2018 Mazda 3. The dealer had the car listed for 19K. They ended up working their numbers, and they ended up wanting almost 26K out the door. I laughed and told them that was a ridiculous price for a late model economy car with 24k miles. I told the sales guy that I would look around and see what other deals I could get. Then the salesman gives me the old "I'm just going to let my manager know that you aren't happy and that you want to look around". They ended up discounting the car significantly with a 20k out of the door price. The kicker is I didn't settle for that price, I just put a small down payment to hold the vehicle for me and have gotten multiple offers from different dealerships, because they knows I have a car lined up at a decent price, and I've been using the situation to my advantage. This is great advice and thanks for the awesome video.
Thank you very much for sharing and that sounds like a win. Bottom line is they are gouging right now even more and it’s time to be a bit more savvy.
I used to take a short cut home through a dealership an would get jumped by 3-4 salesman. I went walking through dealership in bare feet walking my dog checking out cars ... Not one salesman came out to greet me🤔 I sold cars in the past and i would have definitely gone out and made a sale just for bragging rights 😂 came in barefoot and left in a new ride.. Don't want to be bothered by salespeople go barefoot.. Note i live in florida
Here's a money saving tip. If you can, get pre-approved at your own bank/credit union before going to the dealership. This way you have the option of the lowest interest rate. Dealers have multiple lenders and they may get an approved interest rate for you at say 3 percent, but tell you were approved at 4.59 percent. That 1.59 percent is extra money in their pockets, meaning more money your spending. I worked several years at two different new dealerships. I saw the dealerships sometimes make more money on the financing than on the sell of the actual vehicle. With this information, I'll let the dealer tell me their rate and then say I'll use my own bank at my rate. Chances are the salesman or finance guy will state he'll go check and see if he can do something better and at least match or give you a slightly better rate than your bank/credit union.
Yep, I had paperwork from BECU, their "better" rate was similarly higher as your example. I even showed them it and they claimed it could not be. I knew they knew they were lying. Anyhow, I walked out.
#11 - "I am not buying a car today." I sold cars for a couple of years when I was younger and never, not once, failed to close a customer who said this. They just told me that they don't have confidence in their negotiating skills and used that line as a throwaway. Salespeople ignore this line and keep going as if the customer is buying and they usually do.
I love seeing how people want to just cut to the chase and be transparent when it comes to buying a car at a dealership. But as soon as the dealership recognizes that and adapts themselves to that market and is also honest and transparent about sale price and value for vehicles etc, people get mad at that 😂
I know I’m getting old . I remembered when cash was king.
Agreed
Noooooo no cash
Cash means nothing...hasn’t for a very long time.
Cash is good if you're buying privately. ...not a suitcase of money lol
But access and that makes for leverage and a quick deal for the seller.
@@davidsparling3505 I wish someone would dump about 500K of nothing in my lap
Well I am glad the last thing I told the dealer when talking about the new m4 was “well now I just need to talk myself out of it for a while”
Well, I don't know much about the above situations, but, I walked away from a car "deal" because the salesman would NOT come down a measley 9.00. He asked me if I was seriously walking away because of that amount and since he would not offer to come Down 9.00, that said it all to me.
Smart Man! My bro was a monthly top earner highest sales receiving10yrs high commission until he became exhausted from retail. Stay safe
Thanks you as well
Hi from France, best car advice video ever !
When I worked at an RV dealership, we had a salesman who was doing fantastic. He sold more than all the other salesmen combined.
About three months after he left we found out the reason he left so quickly was because the IRS was after him and we found out his sales secret.
Customers would come in and say "I'm here to have that awning installed now". We'd look up the contract, no awning listed. But Frank said if I bought this motor home I could get an awning. Well why didn't you get it at the time of the sale? Frank said it wasn't in stock.
Eventually, any customer that came in and said that Frank the salesman promised them something, the owner just gave it to them out of good sales relations.
What Frank did was promise the customer anything to get the sale and commission but not put it on the contract knowing that he wouldn't be around when the shit hit the fan. He collected the commissions, ran with them and left the dealership holding the bill as accessories and add ons were deducted from the salesman commissions as part of the sales expense.
I worked with a salesman also with the name Frank the showroom athlete.
Some very fair points, I'd add: know what a good car drives and sounds like versus a bad one. Know some key signs of a bad car, or dealer. Know how to walk away and think. I nabbed my rig off a heartbeat and I've been fortunate in that it runs like a top but it came with paperwork headaches for DAYS. If you're buying secondhand, know a thing or two about processing a car in paper and what it will take before you do.
It feels like a simple purchase but it rarely is. What's the old saying? "Proper Preparation Prevents Poor Performance". Applies to the deal and the rig in question.
To boot with secondhand off lot: they do a bit to make a rig look clean, but just enough to drive clean. Keep it in mind if you aren't a gearhead and keen on keeping your own up to snuff. It's not all smoke and mirrors, it's a lot of moving what makes a sale around. All cars need maintenance, it's what YOU will be fixing that needs to be known.
Cheers
Queen Elizabeth herself went with an aide to buy a property and wasn’t recognized. She got a great deal. It was after the deal, they were told and she smiled and said “ now, if you had recognized me, you would have charged ten prices”.
Cheers
Thank you Mark!! You are the best ! Lots of useful information!! Cheers from Toronto!
It's like my dad says, "the top of hell's hierarchy has car dealerships over it"
Majority of car dealers are NOT your friend. The challenge is for you as the customer is to get the price YOU want to pay and negotiate on YOUR terms, not theirs. Thanks for this vid!! Learned a lot!! 👍
Wow, this guy packs a punch, no fluff or blah blah blah. STRAIGHT to the point.
Thanks
I got pretty damn lucky because I had a 13% employee discount. Made the out-the-door price about the same as sticker lol. Sticker doesn't include tax and all that junk.
Really helpful tips. Thanks for opening our eyes.
Thanks a lot for watching.
Thank you! Good advice and the "they'll fatten it up" on repeat had me screamin' 😂
Thanks
Great video. Thank you. Most of the time salespeople don't work 9-5. They work long hours if they want to make money.
That is totally true
At some point you and the dealer are going to be $500.00 to $1,000.00 apart on price. You have to get up thank them for their time and walk out the door. They will run to you in the parking lot and accept your deal. If not just keep moving, they call or not, but keep to your guns it is the only way to get your deal your way.
usually works. the last car i got was a little more than the first car i was financed and they gave me a quote of double the monthly payments and i played the "oh idk man" like a million times and had them bring it down a lot. some of these guys are crooks if you don't play it right. i also did walk out 3 times
when people come to my dealership and walk we definitely don't chase them. If the price doesn't work for you no worries have a good day.
@@mikeab2871 correct ..
Number 11: "I am doing a list of secrets you should NOT tell to a salesman"
Finally thank you ,some of that happened to me, went to buy a small car on sale within my budget and pushed a Saturn van on me.
You are very welcome. Have a great weekend.
Dealers don't like cash. They like financing because they get a kickback from that. I used to work at a dealership and this is what I learned
Exactly. More to be made by Lending
I bought my first new car and watching these videos I've learned that I got ripped off bad. I thought the dealer was being great but now I realize they are cons
Greats tips, thanks so much. Keep the videos coming!
Thanks a lot. Have a great day. I definitely will.
You are better off to go to your own bank or credit union an get a pre approved rate because dealers mark intrest up to increase their profit from the sale. Another thing I learned to do is ask up front what the documentation fee is. No reason it should be over $250-$300 yet some dealers charge $650 to facilitate the sale of their merchandise to you. It's one of the last pieces of information you will sign in finance an their last chance to increase their profit from the sale
I had a bad experience the other day. Went to look at a car I found online for a daily driver. The advertised price was $9300. After I test drive the car and go to make a deal it's suddenly $10,500. This homie doesn't play that game.