SECRETS OF CAR DEALERS: 6 HIDDEN DETAILS They DON'T Want You to Know: Auto Expert Kevin Hunter
Вставка
- Опубліковано 3 жов 2024
- CAR DEALERS DON'T REALLY APPRECIATE KEVIN HUNTER SHARING THE SIX SECRETS a CAR DEALER DOESN'T WANT YOU TO KNOW. Find out why!
SUBSCRIBE ON UA-cam / kevinhunter #Car #Cars #Deals #Love #TheHomeworkGuy THE BEST CAR BUYING ADVICE YOU CAN FIND is published by The Homework Guy Team (THG)! We’re the team of Auto Experts, Finance Gurus, and Car Pricing Strategists that well over 40 Million Car Buyers have come to know and trust.
VISIT OUR WEBSITE: thehomeworkguy...
WANT TO LEAVE A TIP FOR THE HOMEWORK GUY TEAM?
www.paypal.me/... or cash.app/$TheH...
JOIN US ON OTHER SOCIAL MEDIA!
Facebook: / thehomeworkguy
Twitter: / thehomeworkguyz
Instagram: / the_homework_guy
Rumble: rumble.com/c/c...
Odysee: odysee.com/@Th...
Bitchute: www.bitchute.c...
GET AWESOME (THG) HOMEWORKGUY MERCHANDISE. SHOW DEALERS YOU ARE IN CONTROL OF YOUR NEXT CAR DEAL!
teespring.com/...
The Homework Guy Team publishes videos to help Car Buyers. We don’t hate Car Dealerships. Instead, we represent Car Buyers, a goal that’s often in direct conflict with Car Dealer goals.
A CAR DEALER WANTS TO:
1. SELL every car for the Highest Possible Price.
2. CONVINCE Car Buyers to use Dealer affiliated Lenders / Banks.
3. LOAD every Car Deal full of Fees and Finance Products.
4. OFFER Lowball numbers on every Trade Vehicle.
THE HOMEWORK GUY TEAM (THG) HELPS CAR BUYERS TO:
1. BUY a Car from Dealers or Private Party Sellers at the Lowest Price.
2. PAY Cash or Finance with their own Bank or Credit Union.
3. DECLINE Dealer Fees and Finance Products.
4. TRADE / SELL their current vehicle for the Best Value.
THG didn’t give Car Dealers their Bad Reputation. For more than 40 years, dealerships have EARNED it by being the masters of predatory selling. They stalk victims relentlessly, often ruthlessly treating the most vulnerable car buyers (like seniors, for example) with little or no conscience. Car Dealers and their Finance Officers have no problem creating financial devastation for their customers with over bloated car loans, and often do. While the business has had record setting profits, Dealers never stop telling Car Buyers “We’re losing money!” That’s the bed Car Dealers custom built for themselves. We point out the traps and the flaws of the process, and help car buyers get by all the nonsense without being ripped off. We promote fairness, honesty, and transparency, and we’d love to see a few dealers join our mission!
The Homework Guy Team provides car buying consumers with information, automotive news and updates, industry outlook, buying and selling advice, and other help to level the tables. The public face of THG is Kevin Hunter and the master negotiator, Elizabeth. Tons of time and research goes into every show, planning for weeks, several projects always on the table, all with the goal of getting it exactly right. From Automotive News Updates to vehicle shopping advice and assistance, The Homework Guy Team is the best there is.
THG CATEGORIES: cars, truck, van, suv, auto, new cars, used cars, autos, mechanics, automobile, vehicle, dealer, automotive news, auto shop, service plans, extended warranty.
LEADING CAR BRANDS (MANUFACTURERS) WE COVER IN THE US: Ford, Toyota, Chevrolet, Honda, Nissan, Jeep, Ram, Dodge, Hyundai, Subaru, Kia, GMC, Mercedes-Benz, Volkswagen, Tesla, BMW.
#carsforsale #carlovers
How can The Homework Guy Videos help Car Buyers?
1. What you need to know before buying a car.
2. Information you need when buying a car at a dealership.
3. Benefits of Buying a Car from a Dealership or Private Party.
4. How to Buy and Sell Cars
5. Learn the process of buying a car from start to finish
6. Questions to ask at a Dealership
7. Car buying tips and tricks from the experts
8. How to Buy a Car with Cash
9. How to Pay for a Car with Cash.
10. Using Carmax, Edmunds, TrueCar, Autolist, or Kelley Blue Book.
11. Buying a Car out of state.
12. Taking Control of the Car Buying Process.
13. What to do if Scammed.
14. Illegal things Car Dealers can do.
15. Understanding Dealer Financing Tricks
16. How to Avoid Dealer Scams.
17. Reactions to Sales Training by Car Trainers.
Will The Homework Guy Team become the #MrBeast of the Auto Industry? Time will tell! We’ve seen amazing growth, and over 327,000 Subscribers and counting. Meanwhile, if you prefer to fix your current car, check out channels like Chris Fix or Scotty Kilmer! If you wonder where we get such brilliant financial ideas, watch the Dave Ramsey Show! But, if you just need to get lucky and be handed a wad of cash, well... see Mr Beast! - Авто та транспорт
#TheHomeworkGuy - Had a friend who followed your videos advice and they said that the finance guy would hardly acknowledge them as they left his office. The finance guy was beaten!!!
It's always nice to have a few pesky car salesmen or car dealer employees show up to our channel and add their dislikes. I'd challenge them to share their dealership name, city, and state so they can prove how their dealership isn't anything like what we describe... but they never take us up on that. Imagine that. Do you know any other business person who doesn't want you to know who their "Amazing Company" is? We could easily put the spotlight on good dealers. Anyone out there want to take us up on that?
You are so much better than that chump Mike Davenport.
Ok in the first part of the video you point out how the dishonesty is endemic. So if it's such a target rich environment, how come there are not car dealer police?
80 / 20 rule 20 percent get it 80 don't they are all f#### crooks with a license to steal their is nothing ethical about the auto industry
Chicken much car dealers??
@@peaceonearth8693 you sound like a salty car dealer. We the people are SO TIRED of the dance of buying a car. Your methods are so old school and I'm personally happy that times are changing
Once again, Kevin serves up a heaping, steaming pile of Super High Intensity Training--- and we LOVE it!
Another steaming pile of Super High Intensity Training! You got that right! lol...
Mark H. - That's Far better than the steaming pile of 🐎 Horse Crap dealers give you!
I can't tell you how much I learn from your channel. I was at a dealership yesterday and did not buy the car because they wanted to finance longer than what my bank preapproved me for so that I could get a more expensive car. I walked away, sad but still walked away. Rachelle in Seattle
If you don't want to name and shame the dealer here, do so on Dealer Rater and Yelp.
"Stealerships" :( And keep walking away from thieves like these.
Never be sad about walking away, as much as they want you emotianly invested in the car, they are mass produced consumables, no one car is special you can always find a dozen identical ones in a fairly short drive, or often buy the same one at a better price after walking away.
My own recent encounter at a dealer and how I feel I turned the tables on them.
I researched a nice Honda CR-V that I wanted to buy at a dealer near me. I knew going in, based on Kevin's teaching and KBB values, what I wanted to pay for the car. I test drove it and it was all that I imagined...now the negotiations. At the salesman's desk, I simply told him to get me the best price he could and f I liked it, I would buy, if not I would leave.
He left and came back with a sales breakdown of 21,500 for the vehicle. I did not want to pay more than 19,000. On this sheet, the first thing I saw was the vin window engraving thing for $395, I chuckled, (remembering that Kevin said it was a 15 dollar kit at Amazon). I told the salesman, his price was too high and began by telling him of the Amazon kit. There were other charges like 795 inspection and preparation fee and something else for 3 or 400. In the end I wrote on the paper. "$19000 out the door."
I said get me that price and I will write you a check right now....then I laid my checkbook on the desk with a pen. He nervously looked at my checkbook and said he'd be right back. The manager came out and siad he could not get that price and showed me a sheet containing every dealer who was selling the same vehicle and their prices...his price was #2 out of 30 or so.
In the end, we negotiated down to $19500 out the door, a savings of $2000
Love the story. It sounds like you showed your hand about paying "cash" too soon. Glad it worked out for you tho. My wife and I are looking into buying a car soon. And thinking about the "dance" they love already stresses me out. Trying to load up on car buying skills before I enter the Lion's den
@@JusNoBS420 If you are financing, look at your bank or credit union first. Car dealers have a range of finance rates they can charge, if I remember correctly.
Also, to help relieve the stress, keep in mind, who is doing who the favor. Are they doing you a favor by selling you the car, or are you doing them a favor by buying it?
@@jimmyconway9619 thanks for the advice. We will definitely be walking in with our own pre approved car loan through our credit union. So with that being said for the dealership its pretty much like we are a "cash buyer" right? Basically shortly after we pick a car and settle on the price I'll have a cashiers check or however they do it nowadays
@@JusNoBS420 I showed my hand because I was fully prepared to leave. I knew my maximum price, even though I went over a bit...and made them realize I had no time for their nonsense.
What I did not mention is that the "manager" first came back with "the best I can do is $19,800"..I said, sorry, not good enough and thanked them for their time and began to leave.
I really wanted the vehicle because it was a one-owner, had all the oil changes, the required services and looked new.
I offered the 19500 based on that.
@@jimmyconway9619 I totally get that. I hate the dance they love because usually after several hours they figure they've worn you down and more likely to agree with their terms to get the process over with. Its similar to trying to work on your cell phone bill/ contract
Hey Kevin - I educated myself by watching most of your videos before the purchase (lease) of my 2020. Jeep Wrangler. It’s been a month since driving it off the lot. I love it but it’s already in the service department for recall and TSB fixes. I was wondering if some time in the future you could have an episode about the post purchase issues like warranty work and what our rights are with the service department.
Keno - Should have watched Scotty Kilmer's mechanical Channel
Dad use to say the big print giveth and the small print taketh away
I totally agree that the big print gives and the small print takes away That is why a magnifying glass is a good thing to take to a dealership
or read every thing first before you go be aware its common sense
That's a good one!
Gonna try and buy a car today, I hope I can remember all this info. Been watching these videos all weekend
Good luck! Please remember that you don't have to take a deal they offer you that same day. They want you to look at the car, they want you to test drive, they want you to fall in love with it, they want you to come into their desk to look at numbers; all of this to lure you into a "deal" you don't like/or want to take. If you get some numbers, etc, take it come and sleep on it. Don't make any last minute decisions unless you KNOW FOR SURE you are getting a good deal
Remember, one of your best weapons is walking away. Don't like something? Walk away. Nice and simple
Kevin, there are many guys with UA-cam channels like yours. Tons of channels. You are the only one I’ve subscribed to because your channel has clearly been the best of them all. But this video is clearly the best video I’ve seen on your channel. Absolutely, the best. I definitely made the right decision to select and subscribe to your channel for my Car Buying channel. Being a CPA, I thought I knew everything. The hit to my ego was worth the education I received tonight. Thank you so much Kevin. God, you really know this business.
A lie they tell, "We already sold your trade in."
"Hi. I'm Joe Isuzu. We already sold your trade in, so you'll have to take this new Isuzu home!"
@@markh.6687 -- I loved those old ads.
Davenport! Get Mr. Griswald's car back and bring it back here!
@@1VaDude Sorry 1VaDudge; UA-cam shut down my channel, wiped out apparently ALL my comments, then reinstated it on appeal. Looks like they'll be alot of free-floating replies to my now-missing comments. :(
Thanks Kevin I need all the help I can get so I'm watching and rewatching all your vids
I like what you said at the beginning of your video about being Kryptonite for the dealers...I also like what you said at the end of your video "Fairness & Honesty is the best business model" Thank you Kevin, You ROCK!!!
Thanks for exposing these corrupt car dealers keep it up good man
You sat it straight Forward, that's great
I’ve always bought from private owners. Preferably from the first and only owner who’s old and have taken care of there car. Don’t buy from dealerships
That's a great idea. Most of my car purchases are from private party sellers too. We have videos on this channel that deal with private party sellers and buyers.
Totally agree. I think I've only bought from a dealer once in my life, and that was on an older car that was hard to find in the spec I wanted. Literally every other time I've done private party. Definitely the way to go, you can get incredible deals if you do it right.
Counterpoint - I'd rather know the devil I'm dealing with, and I can generally inspect a used car at a dealership in MUCH more detail than I can at a private sale. Most dealerships will have no problem with me taking the car to my mechanic - they don't care, it's just a unit to sell to them.
If you know how to handle dealerships, that will show through, and they'll move on to the next victim...ummm..customer.
Problem is, the banks want you for some odd reason to buy from certified dealers. My bank( Bank of America) will not let us buy from anything other than rip-off dealers. Go figure!
Yeah, just bought a perfect-condition Opal Astra 1996 with 300,000 miles (yeah, I know, no luxury car exactly) for just over a thousand bucks from a guy who advertised on-line. Lives in the same small town and could hand over the keys, repair manual and history, etc. right there. An emergency after our VW time-belt broke (and had just had it serviced at the VW dealership where we'd bought it). Thank God for private sellers.
This has been very informative. I'm very glad to have found your videos. Thank you very much!
I learned a lot with this channel. I recently got my dream car and even tho I had to pay the 700$ fee because Autonation is a no haggle price dealer, I got it to a fair price and somehow managed to finance a 3.44% APR. Not bad for a 21 year old kid first time buyer haha. No extra warranties and no extra bs for me in the finance office.
They are the ones laughing
@@johnmatarazzo9178 I don’t think it’s funny for them the fact they couldn’t apply their 11% APR on that sale
You did good! An excellent accomplishment!
It is very admirable to see someone so selflessly offer advise and guidance to protect any consumer against the pitfalls of predatory sales. I would love to see your efforts to "PROTECT" the consumer be combined with an automotive sales professional that is dedicated to providing an "HONEST AND RESPONSIBLE" purchasing experience.
Concerning the idea that "the contract is not final until you leave the lot", there appears to be a lot of open speculation about that. Leaving your car at the lot after signing can be considered "voluntary repossession", which would negatively affect your credit rating and still leave you on the hook if the (re)sale of the car does not cover your loan. Ultimately when I did some online searching, it appears that the best advice would be "do not leave your new car unattended" and "call a lawyer immediately". Not all states treat the "take delivery" clause the same way and it may ultimately depend on the wording in your contract. (Disclaimer: I am not a lawyer, I just googled things...)
Don't misunderstand. Nobody said to leave your car at the dealership. What the video said is "Don't leave the dealership until you've reviewed your contract, either inside the finance office, or outside the office by phoning a friend. You don't leave the car behind while you go off-site. We're not recommending that at all.
DO NOT GET A LAWYER ,THEY ARE IN ON THE CRIME TOO
@@wherethestormcloudsaregath4985 that's just idiotic man.
You are very helpful educating people about the process...
Thanks for your videos. I wish I could take you to the dealer to buy me car! So many points that sometimes it’s hard to remember all of them!
The nice things about a cell phone is there is a Notepad in them and you can put all the points in there and review them as you are either with the salesman or in the finance office.
It is a boatload of fun to take a circular full of lowball ads into a car dealership and inform the sales staff that you are only willing to pay the advertised price and no more. The looks on their faces are precious. Even more precious is to allow the same sales staff to spend several hours showing a few adverised vehicles, speak to the finance office, and then add everything up so one can inform the dealership that the price is over the advertised lowball offer and therefore one will be leaving in one's present vehicle unless the dealership adjusts the total price down to the lowball advertised price.
Fairness and honesty
good stuff! thanks for the honesty. something dealers know nothing about.
Great information as always. Thanks !
Hey Kevin. Perhaps you can answer this question in an upcoming video. I recently purchased two cars from two different dealers and paid cash. We already agreed upon a price "out the door", so there was no additional haggling and we stated up front that we didn't want any other products. In both cases, we signed paperwork at the salesman's desk, but each time, we had to go to the finance office to complete the paperwork. We asked, why couldn't we just sign everything at one desk; the salesperson's desk. Each time we were told that we HAD to go to the finance office to complete the paperwork. Was there something that we missed or is this just the way it is? Keep up the great videos.
amazing video, Car dealers should be told this. You know what a chazzer is?
It's a Yiddish word for "pig." See, the guy, he wants more than what he needs. He don't fly straight no more.
The moral of the story is to focus on the side dishes [ such as all the fees revealed in the F & I office all of a sudden ] as well as on the main course [ price of the car]. Don't let your guard down at any time until you reach the absolute end of the negotiations.
Kevin Hunter Rocks
I have been making offers on used cars based on your kbb based processed. My offers are initially on lower end of the range and negotiate up a few hundred to get the yes. I tell sales person that my offer is out the door. And I know the state fees ( I know these costs) and the taxes must be added. However I have never been able to actually buy a car and always end up walking when in the finance office. They are unwilling to budge on the doc fees and some of the other nonsense using the philosophy that if it’s taxable it’s negotiable. I won’t budge and neither will they. Do you think this is a product of short supply? They let me walk all the time and I do. #thehomeworkguy. What do you think I may be doing wrong. PS FYI this has happened at 3 separate dealerships.
Hey the 3 base coach let's just make everyone think they are getting screwed put your big boy pants on and ask for a copy of the contract before you take delivery then shop the deal before you take delivery watch for the dealer fee some are as high as 799 have them strip the deal with everything that does not involve the car /trade and rate take the amount financed divid by the months .add total number of payments then subtract the amount to finance that will tell how much your are paying
To me, this can all be avoided. Like the quote said in the movie'War Games'.... The only winning move is not to play.....
Buy from an individual. The cheapest, most reliable vehicle you are willing to drive... Watch your bank account grow!!!
In case you have not watched the previous videos about autoloans.
1. Apply Autoloan only Bank that you already have an existing Bank Account.
2. Let the Bank approved a lower price of the Car you wanted.
3. Once approved by Bank, negotiate to a dealer agent through email or any online apps transactions.
4. Tell the agent that it's the only amount you csn afford and the Bank allowed for your autoloan.
5. Negotiate many dealerships and agents as many as you can and used their indvidual offer as bases.
6. Of course choose the offer that has the biggest discounts and a lower Suggested Retail Price.
7. Ask the agent a formal quotation and send to your Bank for issuance of Bank P.O.
8. Any discount your agent can offer can be deducted on the downpayment required by your Bank.
9. Once the Bank issued already a Bank P.O., check the unit they have prepaired for you.
10. The 10th digit of the VIN of every cars, identifies it's year Model.
11. Once you are ok with the Car, sign the autloan documents of your Bank.
12. Pay your Downpayment direct to the Dealer Cashier and ask for an official receipt.
13. Check thoroughly all the documents also from your dealer that needs your signature.
14. Drive your Car and drive safely.
15. Never negotiate to an agent on their Dealership premises, always negotiate through email or by Phone.
16. Choose a Bank that is not an official partner of the Dealership and ask for a lowest interest as possible.
17. You can use your savings of your autoloan later for the Periodic Maintenance Service schedule, fuel, renewal of your Yearly Insurance.
18. If you like and learned from these steps, pleade don't forget to sibscribe my UA-cam Channel. Thank you so much.🙏
Thanks! You helped me a lot!
Another great and informative video. Thanks, Kevin!
SOB! I wished I knew about signing my signature on a contract and taking possession of the vehicle in order for it to be a binding contract. I have learned a lot from watching your videos Kevin. When I go to a car dealer ship in the future I pity the poor sales man that deals with me lol.
Or shop around at local banks to see if they get a better rate and bring proof to the dealership they offer a better rate. Use it as a bargaining chip.
#TheHomeworkGuy When suggesting to take a finance loan and then pay it off immediately, or soon after the purchase, you should advise viewers to take into account that you will still have to pay in many states a title recording/change fee to take the lender off of the title of the vehicle. Sometimes the fee is built into the loan and it costs more than the actual fee your state DMV will charge you. Additionally, with COVID causing revenue shortfalls in tax and fee receipts, many states are hiking or tacking on so-called temporary surcharges. So what you think you may have to pay may not align with what you really have to pay. Not to mention the backlogs at many DMVs because of COVID. (I also had one relative tell me that some dealership actually tried to tack on a COVID-19 surcharge fee so that might a topic for a future episode. Thankfully that deal fell through.)
Covid 19 surecharge...I would walk. I mean run.
Why can't we find out how much the manufacture makes from the dealer on a car sale.
#thehomeworguy. You rock I am using your professional tips to buy a new car
This is some great information! Thanks for all the great videos.
Thank you so much.
As always, your advice is golden.
Nitrogen filled tires are a joke fee too!
Another awesome video and great information!!!! Thanks ! You rock !!!
Thanks for your comment. You rock too!
In a year or so I will be able to purchase a new SUV via bank transfer (of course, finance Dept. would not be privy until the end thanks for your video) Question: would I be able to take the contract home before signing to review and then return the next day?
Great Info!
Always great information!
thanks this was helpful
You just explained why I keep being told by dealers it's going to cost me more to pay cash.🤨#thehomeworkguy is there a way around this? Thanks in advance!
Yes, he has a video on this exact subject. The main goal is, don't mention you're paying cash until the final step of the financing process. This way you can get the best out-the-door price in writing first.
@@motopolak Thanks bro! Appreciate you! Good lookin' out.💪🏾👍🏾✌🏾
#TheHomeworkGuy Does the state sales tax applies to the price of the vehicle before the addition of other fees? or after along with the down payment included? also is dealer inventory tax and inspection fee part of the feed you must pay like tax title and registration?
Thanks, Kevin!
Now I know why they want you to take immediate delivery. Thanks!!
Just get your own dealer license and buy a car from the auction without any dealer fees or profits... it only costs about 1k to get a dealer license.
Nice job Kevin, keep doing it , excellent delivery
#Thehomeworkguy: Kevin thank you I enjoy your videos. I've been looking on line at build a new car at different manufactures. I noticed in the summery that lists all packages, options there is am acquisition fee. What is this fee ?
Love your videos...very informative...and accurate
Fantastic!! You are a Godsend top the consumer.
Thank you, Robert! Appreciate you stopping by!
Kevin, Great video.
Thank you! I think anyone who dislikes these videos has got to be a car salesman ... lol
Oh, we have our fair share of car salesmen hanging around, that's for sure!
Secret #3. “Once you’ve signed the paperwork, take delivery and drove the vehicle off the lot, only then do you have a legally binding contract.”
How do dealerships get away with Spot Deliveries” if you have a contract? Why are car dealership not bound to the terms in the contract?
Great information.
Glad you think so! Thanks for commenting!
I appreciate the knowledge
Always good advice
Thanks Kevin
These rules apply to motorcycle dealerships too. First thing I asked when looking at a used scooter last week was "What's your out the door price?" Doc Fee $129.95
When are we building the website for buyers to share "fees" from various dealers?
So that extended warranty for servicing my BMW brakes is NOT worth it? I'm off to the dealership right now. Thanks Kevin for this awesome video!
We just covered Extended Warranties on Saturday. Check it out here ua-cam.com/video/gMhBvEohZfM/v-deo.html
Is a charge for paint color OK
Great information to "deal" with the dealers! Good "amuninition"!
#TheHomeworkGuy rocks!
#thehomeworkguy I was told at a dealership that they had to add a $1000 fee on top of the price because that is what they get charged for financing it. It didn’t sound right to me so I didn’t buy the vehicle. Is this a true fee or are they trying to make more money? Thanks Doug
It's the second one... they are trying to make more money. When something doesn't make sense at the dealership, it's because it doesn't. Trust your gut. Always say no to nonsense.
What... the deal is not final until you take possession of the vehicle, even if you signed a deposit none refundable form?
4:35 Begin
Love your videos, I want to get new car and looks like dealer has better rates than my bank. the problem is I am retired and my income is limited however I saved enough to buy it cash but I dont want to dump it all at once, how can I go about it.
Kevin is the man.
Kevin keep up the good work
All what I've heard from are awesome thank you Kevin
I have learned a lot. Can you talk about extended warranties that can be purchased from respectable companies on line after you leave the lot? Thank you.
Great info!!!!!!!! Can you PLEASE condense all of this information in a book for easy reference? I'd buy 1!!
Thanks Kevin great job
I tried buying a used prius last week and there were 2 warranties, 3m coating and window etching, all of which I didn't want, which all added up to almost 6 grand. Wtf? Hell no.
Love it, Kev!
Hi Kevin do you have a video on ordering a car from the manufacturer and working with a dealer on this ! Would love to see this covered !
Coming soon!
Thanks a ton for all your info!
I am planning on buying a 2021 prius prime next month, so I went to a dealer for a test drive & also tried to get a number from them. (I got a quote online with them for around 25k w/o tax and fees) However, after all the test drive the dealer gave me a price of 34k, saying they always put the accessories on cars (antitheft thing, nitro tires...etc) and can not uninstall them (which is a 5k mandatory add-on) I tried to negotiate with them, and asked for 27k OTD, he played the "check with manager card" and then asked me whether I can purchase the car today, with 10k down and 60 months loans. I said no and I was waiting for the clean cars fund approval letter from government, but am aiming for a purchase in a month. Then he told me to leave and only come when I have money 😑 What should I do when this happens? What should I say if I want to shop for cars and get a rough number a month prior to purchase 🤔
Thanks for the info 👍👍👍👍
Nice, informative video Kevin! 🤩🤩🤩🤩
You do some of God's work. Thank you!
Hi Kevin, these days about 80% of the population have very bad credit (below 600), how do dealership deal with this issue?
It’s called a sub-prime loan..expect to have an interest rate anywhere from 18% up to 31%. Two of the largest sub-prime finance companies are Credit Acceptance Corp and Flagship Credit Acceptance.
@@corypasqualetto5164 Dayymmmmmmm..,...NO MERCY for the 80%
So what if my car is fully paid off is it worth looking through my car sales contract and if there is something they sold me I was unaware of at the time am I able to get reimbursed or no.
Just from my recent interactions with car dealerships, I have concluded that the math is easy. Simply add about 25% on to the price of the car, and you will have your otd real price.
I will eventually pay cash but they won't know that. I am interested in not purchasing all of their crappy expensive add-ons that I can get more cheaply if I want them and if I don't I don't have to get them.
Great advice Kevin Hunter, I live in a small town in Wis. Pop 5k. I by my cars through private sellers, or a small car lot in town. T he salesman at the car lot is the owner. He knows that if he plays these money games, or screws his customers,the word will get out, and nobody will by there, and he will have to fold up shop! T he only extra cost was licenceing tax, title ,and ,transfer to send to the dot. I dont know if this is true, but he said he has to make it out and send in the paper work,for every car he sells. by law. in Wis. eather way to me it was worth not having to do it. He also backs up his cars with a warrente if after a week if you dont want the car, bring it back! for a full refund. "In the same condition of course" witch could be a WESEAL clause, say you brought it back because a gasket leaks , he could say, it wasnt when you bought it! it was, you just dident know that! Hes been known to fix things at his own cost, if you opt to keep the car! Anetas husband..
Really valuable advice
Thanks for the information. I am currently looking to purchase a new vehicle. I am sure this is going to save me $$$
You bet it will! Thanks for stopping by. Best of luck with your car shopping!
I took my Ford F150 to a dealer and told them I needed a new fuel pump . Change it . 80 dollar charge for diagnostics . Why ? declined the service and they still had the balls to charge me . They lost in court !
#thehomeworkguy-The tip of phoning a friend can't be emphasized enough. A good friend of mine decided to buy a TDI VW Beetle. I told him not to sign anything yet and give me 5 minutes. Turned out they were selling the car at roughly 5 grand over sticker, and he thought he was getting a good deal. I advised him what invoice was on the car and that he needed to go back and renegotiate his deal. A few hours later he called me back and told me the dealer was really pissed at me. He ended up buying the car for 2 grand under sticker... He basically saved $7,000 on his deal.
"Well Done"
If a new car comes with added features like floor mat, cargo net, first aid kit...blah blah can you also cancel it ? I don't need any of them
Kevin you was supposed to do a video about how to best navigate the car buying experience when you have BAD CREDIT (564 here!).... What happened?? :(
Best video ever. I’m a CPA, but I had no idea that the deal was not finalized until you drive off.
WAIT.........
What if you change your mind? What happens to any deposit? For decades, I would announce to the finance guy that absolutely....I’M NOT GIVING A DEPOSIT. NOT A SINGLE PENNY. If they say it’s a firm requirement at that dealership, I get up and start walking out. They always caved. I refused deposits because when I was young, my purchase magically turned into a lease. I said to go f*ck yourselves. This was fraud. Took a month to get $500 deposit back. And then, only after I showed the finance guy the name and phone number of the chief enforcement officer over dealerships in the State of Missouri who was located in Jefferson City. Missouri, the state capitol. Never gave a deposit after that. But if you gave them a deposit? Can they keep the deposit????
Best video ever involving cars. I had no idea. My only excuse...I’m a tax CPA. Tax law is our thing....not contract law. Also, my worse passing score on the National CPA Exam required to become a CPA, was the Business Law part. My bad.
Thank you Kevin. Have not finished the video, in case you don’t mention the potential problem if you give a deposit, could you address it in a future video? I’m not kidding, this information about no final contract until you drive it off the lot is so d*mn important to know. Thanks again.
q: can they keep the deposit? a: what does the document you are signing or signed say?
Never walk into the finance office without an OTD price from the salesman - in writting.