AGED INVENTORY: HOW TO USE FREE INFO FOR A GREAT CAR DEAL at DEALERS! The Homework Guy, Kevin Hunter
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- Опубліковано 5 жов 2024
- INFORMATION ABOUT AGE OF INVENTORY, regarding how long a vehicle has been on a Car Dealers lot is FREE, if you know how to look for it! Check Date of "Vehicle offered for Sale" on the CarFax report the dealer provides you!
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With Titles like 11 Fake Fees, to Don't Say I'm Paying Cash at Car dealerships, and Car Shortage Crisis, and Car Dealer Says Bring the Car Back!... The Homework Guy Team publishes videos to help Car Buyers. Then we added Cash Buyer Negotiations, and Held Hostage at a Car Dealership, No Haggle One Price Car Dealerships, How Much do Used Car Dealers Pay for Cars?, and Costco Auto Program. We hit all the topics!
A CAR DEALER WANTS TO:
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For more than 40 years, dealerships have EARNED their lowly reputation by being the masters of predatory selling. Dealers stalk victims relentlessly, often ruthlessly treating the most vulnerable car buyers (like seniors, for example) with little or no conscience. Car Dealers and their Finance Officers have no problem creating financial devastation for their customers with over bloated car loans, and quite often do. We point out the traps and the flaws of the process, and help car buyers get through the nonsense without being ripped off. We promote fairness, honesty, and transparency. Join our mission!
The Homework Guy Team provides car buying consumers with information, automotive news and updates, industry outlook, buying and selling advice, and other help to level the tables. The public face of THG is Kevin Hunter and the master negotiator, Amazing Elizabeth. Tons of time and research goes into every show, with several projects always on the table, all with the goal of getting it exactly right. From Automotive News Updates to vehicle shopping advice and assistance, The Homework Guy Team is the best there is.
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I was sitting down with a dealer and when looking at the price I noticed that they wanted to charge me 3 thousad dollars for coat paint protection. Unbelievable, something we all can do to our car for under 50 dollars. I got up and walked out as they were adamant on unchanging it
I bought a new Camaro December of 2021 they had for two months. I told them if I didn't buy it they'd be shoveling it out of a Snowbank all winter They had it marked up several thousand dollars over MSRP. I made them an offer for under MSRP And they took it. I drove it for 6 months and then sold it to carvana for a nice profit.
Kevin, you also have to be concerned when a vehicle has been on the lot for 30 days because the dealer refuses to repair it or hopes you as a buyer don't recognize the issue. I always hear this " buy the car, and we will repair it," most likely under warranty. I shopped for a suburban for 4 months, and every suburban on those lots that were 30 days or more had issues, and that's why they didn't sell. The dealer wants the vehicles to be repaired only after purchase, which I explained was fraud. They didn't care.
Agreed. There can be problems. Due diligence is always a necessity. A Pre-Purchase Inspection should always be a requirement for purchase.
Yes, that's correct. When I bought my 2012 Sonic, I had a price in writing before I went to the dealership (as I always do). After getting ready, I said to the dealership, "Well that price isn't good enough". He said, "I thought we had a deal?" I said, "Yes, but I just noticed the car has been sitting here for months and you know that costs you money every day". We then got more money off the final price.
In Virginia for new cars, one can get an idea of the time on lot by checking the state safety inspection sticker on the windshield.
There you have it!
I have seen where large dealer groups have moved a car around to different franchises to make it look like a car has not been "unsold" for that long.
Its crazy how my dad and I have recently went around dealers and every time i ask how the car has been on the lot, they tell its been there for a couple of days or less. Later that day I look it up and turns out that its been there for 2 + months
Lieing Never helps anyone!
It’s amazing how much they lie, and at the same time act like they want to be your friend. Disgusting!!!
They will lie to their own mothers!
Shows you it's not worth asking them how long it has been on the lot.
Couldn’t make a deal on a 2021 Honda pilot because the dealer refused to remove their $700 “dealer fee”. It’s been on their lot for over 60 days
Good on you for making them keep their stupid vehicle!
I wish i found you a few years ago, I actually paid for a lot of add ons when I purchased my Ridgeline about 5000 more then I should have, again thank you.
CarGurus has days at dealer & on the site information in their listings....they are another site like autotrader, but different ...it looks like this -> 66 days at this dealership · 66 days on CarGurus · 1 save
Bingo! Lots of ways to get the information for FREE!
Thank you, I just fact checked your comment. And YES you are so RIGHT. Thanks for that hint, I'll be using this next purchase...
Elizabeth and Kevin are going to save me so much unbelievable, thank you, thank you, thank you 🙏
If I'm buying a new car, I usually look at the State Inspection Sticker. Many dealers have them inspected on arrival so they are ready when sold. The month on the sticker can be a big help. Also, take a look at stock numbers. If your's is way lower than others, you may have an aged unit. Finally, the "date of manufacture" on the inside door plate can be a help, after you allow for transit time.
My local Ford dealer has had two different Bronco Raptors on their lot for four months! They still want over $100k for them which is more than $25k over MSRP!
They will most definitely get stuck with those vehicles. Totally ridiculous!
I’ve been binge watching, I already knew some things like dealers can make $ off financing and I never buy warranties or and of that bs. Truck I’ve been watching has been for sale since mid August. I asked about taking to my mechanic but they wouldn’t let me smh. Tuesday they called me and said I could take for 4 hours to get checked by mechanic. I think something is up with it because it’s at a decent price now because it went from 42k to 38k. Thanks for all the knowledge you give that so many don’t know.
You are so welcome, Scotty. Good move holding fast to that Pre-Purchase inspection requirement. 4 hours is plenty of time for a good mechanic to check it out.
When a mechanic is not allowed, automatic "red flag" and run; not walk; away.
I am watching your videos because I am look to get a new vehicle at some point. I also share your UA-cam videos with my sister and asked her to subscribe since she is also look to get a new or use vehicle too.
Love you guys. I have prob over paid in the past, but not as badly as most. I have done well in the first part of the process in understanding the value, and in a lot of cases really dropped down the price on old inventory. Definitely I will be better armed in the future when it comes to chopping off some of the bloated fees
Most people would be happy to pay for your services and more direct assistance in the car buying process. Think about it.
The NADA 2023 Annual Convention will be in Dallas this year Jan 26-29. Somehow, I don't think Kevin and Elizabeth will be invited!😀
Seriously, unless you really need a car, wait for another 3 to 6 months.
I think you're right about NADA. We're not expecting an invite! And your advice on waiting is right on too!
Thanks again for the valuable information THG TEAM 👍👍👍👍👍👍👍👍👍👍😊😊
Our pleasure!
@@KevinHunter
😊👍🏻
I never miss a video.
Y'all doing great! I have a question: The FTC rules: How have they impacted the dealership and buyers?
Any buyer using them is walking away with the deal they wanted. Elizabeth is going to demonstrate exactly how to do this, coming up soon!
Thanks for the info!
You bet!
I tried to put in an offer for a vehicle that was on their lot 156 days at Palmetto Nissan. They told me NO, I was too low. If I raise it a few thousand , they may consider selling to me. I informed them to keep the vehicle and will never go back.
I can relate a Buick dealership has an 2022 Encore that's been on their lot for 183 days talked to them about it and no budge on price at all. They acted like if they sell it great, if not, no big deal. Made a reasonable offer and was told no we can;t do that price. So I let it go and this is what I would call a smaller dealer been in business many years with good reviews but one common thread was in the reviews they act like if you buy the car fine, but not pushy..wonder how you can be so laid back and make any money??
@@markscott5421 It is absurd how these dealerships really don't want to sell cars unless all the terms in their minds are met. They also are in cohoots with NADA and Kelly Blue Book. Dealerships used to be more concerned to build a relationship then stab customers in the back. Those days are gone. The greediness has become outrageous. Good Luck!
You have that right! Greed eats the soul out of them! There's no going back!
I have been told they don't like them sitting more than 90 days. The flip side of buying one of these is the tires may have flat spots
You do have to be careful with the "Just Reduced" on the price. This is a great marketing manipulation technique to make you feel like you're getting a better deal. And we all know how much a dealer LOVES to manipulate you however they can. Unless you have been watching that specific vehicle, you can't always assume that it really was reduced.
You are correct. Dealers are great schemers. But, it is an alert to check time in inventory!
True. But I like to buy the least days on the lot.
I think it's best to buy a vehicle that you actually need as opposed to how long it's been on the lot.
It's spelled and pronounced "stealership".
Can't argue with that!
I listened to the spiel. I was looking for a Rav 4 or a Honda CRV. Negotiated a bit and THEN when they were going over the financing details , which I listened to, I wrote a check for the out the door price. I said CASH LAST! Oddly I bought the Rav 4 over a year and half ago and the list on the same car went UP for a while. It will soon crash. I am 77 so this may well be my last car. LOL! I have over the years bought two NEW cars. One was a failure...a Buick Century in 75 or so. It was a loser. Pure junk! I did buy a Rabbit Diesel new later and it was a gem. I bought a couple of more Jetta diesels, all used and all cash. I have pretty much never had a car payment. I put aside a few bucks every months so I could repair, if necessary, or have cash on hand to buy another used car. I paid pretty much ZERO interest over my lifetime.
Awesome vid
Carfax report is $39 each or 6 reports for $99.
love your vids. sadly I'm in the UK so whilst a lot of stuff you say here is applicable, there is also a lot that isn't. Any recommendations for youtubers who focus on theUK market with similar tips to you?
Vehicles is the UK a way less expensive than here in the States but getting a driver license and insurance are astronomical expensive
@@dagramirez depends on the vehicle. New cars are more expensive in the uk usually, but second hand tends to be cheaper
Im hearing dealers would rather take non selling autos to auction rather than give a deal to consumers . Why ?
Dealers are frightened by where the market is headed. It's business, and playing the numbers game with the books. The only explanation I can think of is that if they send a vehicle off to auction, there's a certain amount of deniability they can give the banks (their financiers) for having made a lousy purchase on a vehicle. If they deal down to the right price on their lot, they have no choice but to explain why the car was so overpriced to begin with. There is an avalanche of falling used car prices coming over the next 30, 60, and 90 days.
Dealers don't seem to care about inventory age. The last two times I bought a Honda Pilot I had to show them which was the older one. I ended up dealing a better price both times on the units that were the newest. Go figure
"The rule" as it were, has strange exceptions.
But does it mean that there's something wrong with the car?
Yes, it could mean that. We always recommend having a pre purchase inspection.
Kevin, can you use this information when it comes to buying an older used car ?
Yes, of course you can.
Kevin, if you see a car , a used car at a dealership and you want your mechanic to check it out before purchasing, and the dealership refuses, is that a sign to pass up that dealership, although the car is at the price you want. And is it a good idea to contact Better Business Bureau to see the rating if any, of that dealership.
I'm looking to lease a 22 Jeep Grand Cherokee 4xe. Just by it being a 22, doesn't that alone indicate it's been there for 6 months already since the 23 models come out around September of the prior year? If so, how much below MSRP is a good deal? I know it is eligible for the $7,500 tax credit but that is Uncle Sam, not the dealer. It is also eligible for $2,000 from the manufacturer, again that is not the dealer. They are offering $2,451 below MSRP.
If you make an offer, start 10% below their number. Don't come any higher than 5% below their number.
Mark-ups in the Space Coast are back or never left! It is frustrating to buy a new car.
What about a car thats been at the dealership over 200 days . Is that even possible .
That's very possible in this market!
Dealers are thieves, their livelihood is getting the wife all excited about the car then jacking the prices, lowering the monthly payment and other incentives. The puppy dog sales technique.
Kevin I am trying to get a Civic hatchback manual trans at MSRP in Central Valley area Fresno .can you help
Our email is Kevinthehomeworkguy@gmail.com or you can text to 701 441 3399. You'll reach Liz. She gets me involved whenever necessary. We're both glad to help!
What's in-store for 2023 🤔
Our show on Saturday will hit on two things. The steadily increasing car inventory... more good news for car buyers... and the fact that Used Car Prices are set to crash over the next 30 to 90 days. Stay out of the used car market for right now!
@@KevinHunter thanks for the " preview tip " on Sat's upcoming show.
I've been watching the the Chevy Express Van market nationwide for a while now which has been holding
stubbornly high prices up until about 2-3 weeks ago. But now I'm seeing consistent rising inventory &
days on lot, as well as falling prices that are finally becoming " somewhat reasonable "...
The full size van market is a bit of a different barometer due to the " audience " for the vehicle, mainly
contractors, rental fleets and upfitters for conversions....and regionally in recent yrs " the Vanlife community " ...a rapidly growing segment especially west of the Rockies and in Canada.
I can be patient...." doing the homework " .....Thanks for all your team does !!! Best to you all this year !!
Dealers trick you by giving you the WRONG -VIN NUMBER when looking up the car fax
We've been seeing that with book out requests. 1 out of 10 are invalid VINs.
I take it from the tag on dash if I'm at the dealership looking, then match it with the window sticker for new at least if you find a used vehicle you like get the salesman to open the door to view the car then look at the sticker on door frame.
Would you be open to being on Subscribe Star?
Email us at kevinthehomeworkguy@gmail.com to discuss.
Let's go Donny.
Thank you for another wonderfully informative presentation. I find Elisabeth's appearance unique. As a result, I wanted to ask if her clothing, hair and make-up are accommodation of religious convictions.
If a vehicle has been on lot 60 days, is it wrong to assume there is something wrong with it ?
I wouldn't assume that, but I would definitely practice some due diligence and do a pre purchase inspection.
ok
The reason why I don’t like buy aged units is because I like buy new cars w it as fresh on the boat .. car sit longer on the lot .. tires are new but aged tires ( birth date of the tires) and the battery is aged too ! Less life for me on tires and 12v battery and hybrid battery pack and belts hoses too!
I Jeep I’m looking at just dropped another 1000 and has. Been on lot 3 months. Is now a good time to make an offer?
Sounds like it. Send us a VIN and the miles and we'll shoot you back a good offer number. Of course, they could already be below average retail, but that's where we'd recommend hitting them
@@KevinHunter 65000 miles 1C6HJTFG8LL169523
65000 miles, 1c6hjtfg8ll169523 vin
I'm curious to know what it is priced on the Dealers lot. Prices have been tumbling down everywhere. For this 2020 Jeep Gladiator Overland Crew Cab 4WD... Black Book Clean Retail shows $43,350, Average Retail shows $37,850. Rough Retail is $35,175. Most Dealers are sitting just below Average Retail right now. Trade in was likely right around $33,500. Wholesale at Auction around $33,650. The next 30-60-90 days will bring about a Crash in the Used Car Market, so be careful! I hope this helps!
After last drop it’s at 38000
2008 all over again. Car stocks are gonna p🧨ummet.
Where the hell did you get such quality no bullshit women Kevin!
There are plenty of them home-grown and farm raised in the midwest!
👍👈