The minute you you finance a car you are screwed. The minute you walk on a car lot you are screwed if you are knowledgable about the buying experience you will be less screwed.
The deal is so good they made you buy it. Keep that in the back of your mind. Make them earn the sale, make them earn your business. You're not trying to pry that car out of the dealers hands. Talking to a salesman online, he told me, my presence at the dealership is my leverage, lol. As though I need leverage, I'm not trying to make a deal. Really I am just toying with the dealer until he makes me such a great deal that I can't pass it up, until then, I'm a bystander who says no.
Tony Montana that’s a miserable strategy. Very ironic: The reason your presence is your leverage is bc if ppl like you who bs and play games all day behind a phone screen. Dealers deal with so many of you fucks that they don’t want to negotiate that way. There’s buyers on the showroom floor everyday no time for your games
@ATrain 🤷🏽♂️ I mean it goes for everything, the house you bought, the clothes you bought, the smart phone you have.. you paid waaay more then what it’s worth.. you’ll see when you grow up.
Yep!!! My Dad who passed a couple of years ago was one of the Top Salesman in both Real Estate and the Car Industry in the late ‘80’s-mid ‘90’s in his Region in Texas. This is true and can be used in most instances but there are times when you need to let the dealership know up front that you do have a trade and tell them exactly what you will take for your trade and then exactly what you will pay for the new vehicle too. When they know you are buying and not just kicking tires and that you also have good or excellent credit then the deal will get done with both parties feeling good about the deal. Miss my Dad but carry the knowledge he instilled in me about business as well as many other things. Thanks for sharing your video and trying to help people 🤜🏼🤛🏾
Very very true. Only thing that could be a hiccup is leaving and coming back the next day. Most dealers will try to not honor the same price the next day as a means to protect themselves from ppl who shop around. Some will still honor it tho. Great video fam!
Also most dealers today use MMR as a means to evaluate your trade. Not KBB, however KBB is still a fantastic and accurate resource. Just dealership things 🤷🏻♂️
I really wish I would have watched this sooner. I just traded in my (paid off) 2013 Chevy Sonic Sedan 56,695 miles for a 2018 Chevy Malibu 2,212 miles. First they valued my car for 2700 then they bumped it up to 4000 once I told them someone else valued it for 4k. That should been my first red flag smh...but I still continued like a dummy and now I'm kind of regretting it. Great video thanks for being honest.
If you’ve educated yourself about the price of you want to buy, what your trade’s worth and what rate you qualify for you’ll do the deal a lot quicker. By the way, the longer the deal is dragging out the more likely you are going to loose, we do this every day and many time a day, you do it once every 2-5-6 years. You’ll end up tying yourself up in knots
Go to your credit union first. See what you qualify for. Go to dealership with money in hand, then bargain with them. Money in hand, you have the power.
Additionally, never tell them until the end of the negotiation that you have a check from the credit union. Just keep negotiating the price as low as possible.
Actually, the best things to do is to finance with the dealer, because they want you to finance with them so they think they are making more money in the long run. They’ll also give you a better deal if you finance with them. Then once you leave, pay off that loan with a cashiers check and finance with your credit union. That is, if you can get a lower rate with your credit union, which is sometimes hard because most dealers will match or best credit union rates. At least in my experience.
Dealerships are always scamming but you could find a good deal for a used car but some people are stupid so they go and buy brand new cars and get scammed
If they don’t know much about cars they could be paying more than the actual retail value and also if they try to trade in a vehicle the dealership will also try to offer them less for it. Plus they don’t really negotiate that well
Thank you so much for helping me out my parents pretty much have gotten ripped off their entire lives and haven’t really known a lot about these types of things so it’s very hard for me to educate myself because I’ve had to do it all on my own so thank you so much for this video
This is some good stuff...Trade in is a separate transactions so don't let them bundle them together. This is better for them and worst for you. If you owe more than your car is worth DON'T TRADE IT in because you will have to pay the difference. If you roll it into the new loan you will further in the hole. Trade in value is less than than private sell value so if you want the most money out of your car sell it yourself and then go buy you a differ car. This should always be two separate transactions. If you still want to do a trade, swing into a CarMax and get a free cash quote. This way you will have a ballpark of what a dealer is willing to pay.
When I bought my car from Carmax they sold me a car at their fixed price and bought my old car so I got a car and a check. Looking back, I should have negotiated for them to buy my old car for more. Either way, I am the only owner of the new car and it’s paid off now.
My wife and I did this some years ago. We went at the end of the night and at the end of the month. Got the price down and at the last moment said "oh, and we gonna trade in!" They were flabbergasted.
Made the mistake of telling I had something to trade in FIRST. I was already upsidedown and they wanted to swindle another 10k from me ON TOP of what I already had to pay to make up the balance. Walked my ass right out of there
Went today and made the same mistake with telling about my trade in. Appraised it lower than blue book and then they told me to put $8000 down. Craziness
Luckily there are millions of fish in the sea when buying a car. Within a two hour drive there are many dealerships. Make sure you are happy with the transaction before you pony up the money:)
Same here they told me they would pay 19500 for my car, i told them i was got an offer at 22000 they said ok we can pay 22000 if you buy car today, lol that was quick, than there was 700 dollar administration fee she said its for tire warranty for 2 years, i just laughed they ended up going 4000 dollar down from initial price but still to expensive so i left I understand they cant sell the car at the price i wanted, but just don't like the fact they are trying to rip me off
I sold cars for over 18 years. I've been a sales trainer, worked in the automotive industry for over 40 years, and I've been a licensed auto appraiser for over 11 years. I had many people try this on me over the years. I'd just destroy your trade and hit you hard on the back end. The dealer is going to look harder at it because now they will not have any negotiation fluff. Next they'll go after you on the back end. If you're financing, they're going to get at least 2 points to make up for the loss on the front. On a $30k 60 month loan that's going to cost you $1,600 extra in interest alone. $2k if on a 72 mo loan. But, only make them a few hundred more. Maybe you have your own financing or can pay cash? The dealer's going to bump the price up on the warranty, etc. This system could work, but you're going to be there for a very long time, under a lot of pressure to buy something. If you need your car paid off, your car's been in a previous collision, prior rental, you bought it used, etc. these are all things that are going to come back to haunt you. If you're a payment buyer, know the payment you're targeting on the interest you qualify for. It doesn't really matter what you may agree on the showroom, you can always change your mind in finance. The dealer doesn't mind wasting the time of a salesman, but they are limited on finance people. Go on their normal best sales day, preferably at the end of the month (Saturday at 10am on the 30th), then start renegotiating the deal with the finance manager. Focus on the payment and the term if you're financing. Don't let them extend the term, raise the rate, or raise the price. Focus on the payment you previously calculated of the difference you're financing. They may have a better rate, put more money in your trade, etc. to make the deal. Plus, if you're at the end of the month, they may just need to sell the new car to obtain additional inventory, hit a bonus, etc. Your best advice? Get a trade in value from Carmax first. Ask Carmax why so low so you can figure out things that may be devaluing your vehicle. This begins your determination of what your car's really worth and why, so you can be well informed when you negotiate. Know what the lowest price the car is selling for by researching Trucar, Costco, etc. Remember, if you pay too little, you may always wonder why they were willing to sell so cheap. Maybe Lot damage? Some states like Oregon, the car can have up to $1000 warranty cost repairs not including repairs to the glass, rubber and bumpers and the dealer doesn't have to disclose this prior damage to you.
Thank you for this video. It was like a good family member offering their very valuable and educated advice. As if I came to you and asked what I should do when trading my car. It was straight forward, simple and clear advice. Thanks again!!
My girl needed a bank statement and stub last week and I was worried about her not getting her new car 😴 but everything good now only because of deelscafe good work 👍.
Just wanna say thank you I watched your video talked price before bringing up my trade in actually left had lunch even though I was good with price then came back with my trade in and was able to use the previous price discussed to get a great deal. Thank you so much.👍🙏
Actually just did this, it works, yes they will low ball your trade in, thats exactly the point of doing this. You know right away that there screwing you, just like the new car, if the numbers don't work you walk away...I did 3 times, the 3rd time they called me back 20 min after I left asking if they were even close, they were, so I turned around..the secret to knowing you have a good deal, is when both sides walk away unhappy...
If you don’t have one of a few vehicles with a high resale value, get in/out of the dealership quick as possible ..... 1. Have your financing secured before you go to a dealership. 2. If possible take the time to sell your potential trade-in vehicle privately.
this is good advice. my last car i got over 10% off and 15k more than i owed on my trade. i negotiated online so i could think about what deal i wanted. i paid the rest in cash. that i did not reveal till the end. we both got the deal we wanted. thats the best outcome imo.
This would have worked 15 years ago but dealerships today only give you auction prices on your trades, trade in values are worthless anymore and I’ve learned this from experience by multiple dealerships, I had a 2012 Camaro SS for trade and the trade value was 16000 I went to at least 5 different dealerships in my area and the best offer I got was 12500 I said to the salesman trade value is 16k and every one of them said we don’t go by trade value we go by what we can buy this specific car for at auction so my advice don’t waste ur time trading in ur car just sell it to an individual and use that cash as leverage
This was before the pandemic things have changed since my comment in 2019 the used car market is better for trade ins but also you will pay more for a used car now
This makes such sense. I’ve traded in really good cars before and yet I feel like they don’t factor that into the car I’m trying to buy. It’s always more expensive than expected. So, I’m always scratching my head about my trade in. Where the heck did my $6,000 trade in value go? I know they can’t take that price completely off the car, but it always seems like I got scammed. Waiting till after getting the price down makes sense.
If you are financing a new car purchase through your credit Union why does the dealership need to run your credit since you’re not financing through the dealership?
This ex salesmen is spot on I have a friend that is a salesmen and he always advice me not to trade In you old car as they would take it for almost free from you! Peace 🇬🇧
Even better put your car up for sale for a quick sale price above trade in after getting your price. Go in between trade in and private party value to get this number.
Thank You Sir! Your advice is literally word for word what I have been doing wrong. I’ll follow your direction and it can only get better! Again, Thank You Sir!
The key is, if you are afraid to walk away, they will get you. You must be patient and in a position to walk away. You'll get your good deal, but you must be disciplined and fair negotiator. Don't be unreasonable.
Listen to this guy very smart dont tell them you got a trade in u til you get a price they will devalue your car so its best to save your teade in last
I could see this working because if you bring up the trade in at the beginning of the deal you will never know if you are getting a good deal because you told them about your trade in which leaves room to be lowballed on your trade in thinking you got a good deal on the new vehicle 💪💯
Great advice!!! I’m actually going to test drive two vehicles this week. One I have not mentioned anything about a trade-in, unfortunately, the second dealership when I inquired online, I added my trade-in.
I always get the Carvana trade in price before I go into another dealer to buy my car. If they cant match or beat Carvana, then I just sell to Carvana then either buy the car at the dealer or buy the car first and sell to Carvana the next day and use the proceeds to pay down the new car loan. Then if need be you can refinance the balance with your credit union or bank
One question. Does this also apply if I still owe the car? I just bought a car about 6-8 months ago, still paying it but want to upgrade and trade in. Let me know. Thanks for your help
Try the divide and conquer method. One person negotiates trade-in against a high profit margin car while the other negotiates the best price for the car they actually want. Then they meet up and combine offers.
The dealer will say, if I take that car, I'm taking liability and I have to run it trough our shop, clean & fix in order to resale so he will always give u a lower trade in value for your car
From my experience if your credit is good enough the bank won’t require you to trade in the open line. You can have more than one open auto loan at a time.
Exactly what I thought that was how to do it....ooooo and im on budget. And best to be timing this during banking hours at the dealership. And i sold cars for 3 months until i moved to another state...something I learned never to bring up w the salesman lol. Dont know if you even talked about the down payment amount in the beginning when you walk in.
I knew I wanted to buy a 2023 Toyota Tacoma last year but I wasn’t in a rush. Basically, I just had to go pick up the Tacoma, so I worked the salesperson via text for about two months. As soon as I gots the deal I wanted, I showed up the next day and bought the truck.
I did the same thing buying (leasing) a Jeep Wrangler. Found a dealership that had one on order with the options I wanted. Negotiated lease by email, made credit app, made an appointment to pick it up when it arrived. Dealer is an hour and half away. Drove up to fetch it with my wife and grandkids in the car. They wanted me to go through the F&I process, but I just shut that down. “Not Interested in buying any of that. This is a lease.” Was out of there in 15 minutes.
Besides the price of new car and trade in allowance the dealership can make money from financing, extended maintenance plans, and dealer installed accessories or procedures like pinstripes, oil change plans, and more.
What I have done is tell them to give me figures with and without the trade and negotiate the final price there. I saved a lot of time doing that. You actually spend more time and they are more likely to play games.
The main thing thats always running thru my head is after they hv my trade in and a week from now the loan falls thru and they want you to pay more money a month for the car or you hv to bring the car back then what. Because I know this does happen. This is why you go in during banking hours? So its not rushed getting approved before actually getting approved
How do this work with a vehicle that your financing(dont own)? Should I take said vehicle as trade in to the same dealer I got it from? Like my situation is I have a 2019 accord sport 1.5 but I want the 2020 sport or touring with the 2.0 motor instead. I went for my oil change and I was just talking with the salesman and they were saying they would put me in the 2020 right then and there same color but with the 2.0 for 703 a month but that's hundreds more than what I'm paying for the 19 and I got it new with 9miles on it. My credit is the exact same as it was when I got the 19.
@@Cornbread-gi6kt very true, but you can temporarily boost your score up, get a car and have the person take you off their credit card, then just keep making on time payments on that car to build up yourself
I hate that you even have to play these stupid games with dealerships. I’ve only purchased one car in my life and I never wanna go through that process again. I’d honestly pay more just to deal with carvana. If I do go through a dealership again, I’ll definitely use this tip
You forgot some other important things about trading in your car. 1. Make sure your car is clean it show the dealer you're taking care of your car 2. Have at least a half tank of gas 3. Before you let the dealer inspect your trade ask them how long it will take to appraise your car and DEMAND that you get your keys immediately. The dealer will hold on to your keys for as long as possible this tactic works in the dealers favor you can also go with the dealer when they appraise you trade. 4. If possible make sure no warning or check engine lights are on. This is all based on my experience trading in cars and most dealers won't tell you but these are somethings they look for to determine how desperate you may or may not be to trade and get another vehicle
I have a 2021 Lexus NX300 that’s recently paid off. My wife wants a bigger Lex, say the RX350 or similar but we do not want a car note. Would the best strategy be to first find the best deal they have at the dealership for a 2017/2018 RX SUV and THEN trade the 2021 smaller NX for an equally valued but slightly older but larger RX SUV. The key point is to not be saddled with a car note
Great video. Question..... a dealership said the KBB trade in value I looked up online is different than the KBB all dealerships use and they are charged $25 per KBB pull. What is this? Sounds like nonsense.
hey rodney samuels, the only issue is they dont negotiate to a lower price, until you show you are realy serious and willing to make a deal right then and there.
Thats true, if you want the best deal on a used vehicle go in at the end of the month. On new vehicles compare the MSRP(factory official window sticker) to the Sales Price and depending on the vehicle make sure its thousands less than the MSRP. A salesperson is more inclined to work harder for you if you are there to buy a car that day!
This is great advice for people with good credit and if you don’t owe money. If you’re buried doing it like this will have you walking out in that same used car. Second if I need to show more for trade than it’s worth to help make a deal because of you credit you again will be leaving in that same old car. I’ve had customer do it this way and when we gave them fair value it wasn’t enough for the down payment. It is still good advise just not always this straight forward depending on people’s circumstance.
🪙Here's my car buying tips playlist: bit.ly/CarBuyingPlaylist
Do we have to put a deposit down with trade in.
Guy is just trying to help us out ... Respect
He is 100% correct. Keep the trade as a separate negotiation. I have been selling cars for 40 years.
Fasho make that a whole different deal
Can you do reverse and negotiate selling your car to the dealer and then later next day negotiate the price on the car you want
They gonna steal our money on one way or another
lol I wouldn't be bragging about it 🤣
I’ve had my car for 1 years and have 4 years left on my loan, would it be a bad idea to try and trade for a newer car?
Why would anyone down vote this guy? He’s helping everyone out!
Excellent video! Thank you, Sir
Iwould assume the shady car salesmen listening are the one’s down voting.
Car dealerships
The stupid dealerships are giving him a thumbs down!!!
@@ronelite582 they are watching 😂
Prolly because they already got ripped off before seein this vid. Fax
The minute you you finance a car you are screwed. The minute you walk on a car lot you are screwed if you are knowledgable about the buying experience you will be less screwed.
What do you do if this happens?😢
Bruh crack me up when he said "Be honest with yourself if the car is beat up dont put excellent, put in fair!" 😂
I agree to this 💯
I wish I found this before I purchase my vehicle in February. I woke up the next day feeling like I didn’t get a great deal. :(
It's all good, you didn't know what you didn't know. Now you'll have the knowledge for next time 🍀
Buyers remorse is completely normal. Almost everyone experiences it.
Dont beat yourself up, we've all been there.
Great advice on dealing with trading or buying a car. Most importantly your video is the proper length. You kept it simple and informative
The deal is so good they made you buy it. Keep that in the back of your mind. Make them earn the sale, make them earn your business. You're not trying to pry that car out of the dealers hands.
Talking to a salesman online, he told me, my presence at the dealership is my leverage, lol. As though I need leverage, I'm not trying to make a deal. Really I am just toying with the dealer until he makes me such a great deal that I can't pass it up, until then, I'm a bystander who says no.
Tony Montana that’s a miserable strategy. Very ironic: The reason your presence is your leverage is bc if ppl like you who bs and play games all day behind a phone screen. Dealers deal with so many of you fucks that they don’t want to negotiate that way. There’s buyers on the showroom floor everyday no time for your games
You’re the idiot who doesn’t get a good deal lol
As a car salesman. You’ll never get a “deal” we will only make you think you did.
@ATrain 🤷🏽♂️ I mean it goes for everything, the house you bought, the clothes you bought, the smart phone you have.. you paid waaay more then what it’s worth.. you’ll see when you grow up.
Until then you’re a bystander without a new car. 🤣
Excellent advice. I just saw this video by accident, and it wasn't the topic that I was looking for, but the information was invaluable.
This guy is right! He's awesome and explains it for 'us as the buyers' understanding. I learned alot. Many thanks!
The salesman farted in the car I wanted during the test drive and that broke the camels back.
😂😂😂😂😂🤦🏻♀️🤦🏻♀️🤦🏻♀️🤦🏻♀️🤦🏻♀️
You think he did that on purpose just so that he wouldn't give you the deal that you was looking for?.....Lol, tthat's some shady a$$ s#*!
Geez!!! Couldn't hold it in and wait until he got his sales! Lmao
When you gotta fart you gotta fart. I am a true farter and i don't hold for nobody. :P
🤣🤣
Yep!!!
My Dad who passed a couple of years ago was one of the Top Salesman in both Real Estate and the Car Industry in the late ‘80’s-mid ‘90’s in his Region in Texas. This is true and can be used in most instances but there are times when you need to let the dealership know up front that you do have a trade and tell them exactly what you will take for your trade and then exactly what you will pay for the new vehicle too. When they know you are buying and not just kicking tires and that you also have good or excellent credit then the deal will get done with both parties feeling good about the deal. Miss my Dad but carry the knowledge he instilled in me about business as well as many other things.
Thanks for sharing your video and trying to help people 🤜🏼🤛🏾
Very very true. Only thing that could be a hiccup is leaving and coming back the next day. Most dealers will try to not honor the same price the next day as a means to protect themselves from ppl who shop around.
Some will still honor it tho.
Great video fam!
Also most dealers today use MMR as a means to evaluate your trade. Not KBB, however KBB is still a fantastic and accurate resource. Just dealership things 🤷🏻♂️
I really wish I would have watched this sooner. I just traded in my (paid off) 2013 Chevy Sonic Sedan 56,695 miles for a 2018 Chevy Malibu 2,212 miles. First they valued my car for 2700 then they bumped it up to 4000 once I told them someone else valued it for 4k. That should been my first red flag smh...but I still continued like a dummy and now I'm kind of regretting it. Great video thanks for being honest.
KeemaSoEstablished 4k is the right value on that car for an average condition trade in value.
If you’ve educated yourself about the price of you want to buy, what your trade’s worth and what rate you qualify for you’ll do the deal a lot quicker. By the way, the longer the deal is dragging out the more likely you are going to loose, we do this every day and many time a day, you do it once every 2-5-6 years.
You’ll end up tying yourself up in knots
Go to your credit union first. See what you qualify for. Go to dealership with money in hand, then bargain with them. Money in hand, you have the power.
Many life time dealers told me never tell salesmen u paying cash.
Additionally, never tell them until the end of the negotiation that you have a check from the credit union. Just keep negotiating the price as low as possible.
Actually, the best things to do is to finance with the dealer, because they want you to finance with them so they think they are making more money in the long run. They’ll also give you a better deal if you finance with them. Then once you leave, pay off that loan with a cashiers check and finance with your credit union. That is, if you can get a lower rate with your credit union, which is sometimes hard because most dealers will match or best credit union rates. At least in my experience.
Car business is a rip off from start to finish
✅
Dealerships are always scamming but you could find a good deal for a used car but some people are stupid so they go and buy brand new cars and get scammed
Wave Productions Scammed how?
If they don’t know much about cars they could be paying more than the actual retail value and also if they try to trade in a vehicle the dealership will also try to offer them less for it. Plus they don’t really negotiate that well
Everybody is driving a car tho.
Thank you so much for helping me out my parents pretty much have gotten ripped off their entire lives and haven’t really known a lot about these types of things so it’s very hard for me to educate myself because I’ve had to do it all on my own so thank you so much for this video
This is some good stuff...Trade in is a separate transactions so don't let them bundle them together. This is better for them and worst for you. If you owe more than your car is worth DON'T TRADE IT in because you will have to pay the difference. If you roll it into the new loan you will further in the hole. Trade in value is less than than private sell value so if you want the most money out of your car sell it yourself and then go buy you a differ car. This should always be two separate transactions. If you still want to do a trade, swing into a CarMax and get a free cash quote. This way you will have a ballpark of what a dealer is willing to pay.
When I bought my car from Carmax they sold me a car at their fixed price and bought my old car so I got a car and a check. Looking back, I should have negotiated for them to buy my old car for more. Either way, I am the only owner of the new car and it’s paid off now.
My wife and I did this some years ago. We went at the end of the night and at the end of the month. Got the price down and at the last moment said "oh, and we gonna trade in!" They were flabbergasted.
👍
Lol
Made the mistake of telling I had something to trade in FIRST. I was already upsidedown and they wanted to swindle another 10k from me ON TOP of what I already had to pay to make up the balance. Walked my ass right out of there
Went today and made the same mistake with telling about my trade in. Appraised it lower than blue book and then they told me to put $8000 down. Craziness
Same. Trying again tomorrow at another dealership.
Luckily there are millions of fish in the sea when buying a car. Within a two hour drive there are many dealerships. Make sure you are happy with the transaction before you pony up the money:)
Same here they told me they would pay 19500 for my car, i told them i was got an offer at 22000 they said ok we can pay 22000 if you buy car today, lol that was quick, than there was 700 dollar administration fee she said its for tire warranty for 2 years, i just laughed they ended up going 4000 dollar down from initial price but still to expensive so i left
I understand they cant sell the car at the price i wanted, but just don't like the fact they are trying to rip me off
I wish I walked out. I’m paying triple on this car I have and traded my old car which was pretty brand new. I get upset every time I think about it. 😢
Great advice. I do sales as well and this mans advice will get you the best deal.
Thanks!
Is this good if u still owe on the car?
I sold cars for over 18 years. I've been a sales trainer, worked in the automotive industry for over 40 years, and I've been a licensed auto appraiser for over 11 years. I had many people try this on me over the years. I'd just destroy your trade and hit you hard on the back end. The dealer is going to look harder at it because now they will not have any negotiation fluff. Next they'll go after you on the back end. If you're financing, they're going to get at least 2 points to make up for the loss on the front. On a $30k 60 month loan that's going to cost you $1,600 extra in interest alone. $2k if on a 72 mo loan. But, only make them a few hundred more. Maybe you have your own financing or can pay cash? The dealer's going to bump the price up on the warranty, etc. This system could work, but you're going to be there for a very long time, under a lot of pressure to buy something. If you need your car paid off, your car's been in a previous collision, prior rental, you bought it used, etc. these are all things that are going to come back to haunt you. If you're a payment buyer, know the payment you're targeting on the interest you qualify for. It doesn't really matter what you may agree on the showroom, you can always change your mind in finance. The dealer doesn't mind wasting the time of a salesman, but they are limited on finance people. Go on their normal best sales day, preferably at the end of the month (Saturday at 10am on the 30th), then start renegotiating the deal with the finance manager. Focus on the payment and the term if you're financing. Don't let them extend the term, raise the rate, or raise the price. Focus on the payment you previously calculated of the difference you're financing. They may have a better rate, put more money in your trade, etc. to make the deal. Plus, if you're at the end of the month, they may just need to sell the new car to obtain additional inventory, hit a bonus, etc. Your best advice? Get a trade in value from Carmax first. Ask Carmax why so low so you can figure out things that may be devaluing your vehicle. This begins your determination of what your car's really worth and why, so you can be well informed when you negotiate. Know what the lowest price the car is selling for by researching Trucar, Costco, etc. Remember, if you pay too little, you may always wonder why they were willing to sell so cheap. Maybe Lot damage? Some states like Oregon, the car can have up to $1000 warranty cost repairs not including repairs to the glass, rubber and bumpers and the dealer doesn't have to disclose this prior damage to you.
No one cares police
Wished I saw your videos a few days ago. I'll remember this in the future
Thank you for this video. It was like a good family member offering their very valuable and educated advice. As if I came to you and asked what I should do when trading my car. It was straight forward, simple and clear advice. Thanks again!!
Thank you brother you just saved me from going in the trade in first technique. Now I will try your advice and get the best deal out.
Cool. Good luck
How did it go?
This is something that they need to teach young kids, specially in high school.
My girl needed a bank statement and stub last week and I was worried about her not getting her new car 😴 but everything good now only because of deelscafe good work 👍.
Appreciate the help my guy! Just because you want to buy a car doesn't mean you should pay highest price
Just wanna say thank you I watched your video talked price before bringing up my trade in actually left had lunch even though I was good with price then came back with my trade in and was able to use the previous price discussed to get a great deal. Thank you so much.👍🙏
Nice work!
And as soon as you spring the “now I have a trade” they just lowball the trade offer. This doesn’t work.
Then you just say no until you get a good deal.
Either way, the best idea is to sell your old car privately.
Actually just did this, it works, yes they will low ball your trade in, thats exactly the point of doing this. You know right away that there screwing you, just like the new car, if the numbers don't work you walk away...I did 3 times, the 3rd time they called me back 20 min after I left asking if they were even close, they were, so I turned around..the secret to knowing you have a good deal, is when both sides walk away unhappy...
@Sir Raymond LuxuryYacht
Yeah that is upside down. Best to sell your car privately.
Not if you know the value of your trade-in. You can also consider selling your car first and avoid the trade-in hassle altogether.
Not for me. I still got a great trade in. Much better than I had expected for my poc.
If you don’t have one of a few vehicles with a high resale value, get in/out of the dealership quick as possible ..... 1. Have your financing secured before you go to a dealership. 2. If possible take the time to sell your potential trade-in vehicle privately.
this is good advice. my last car i got over 10% off and 15k more than i owed on my trade. i negotiated online so i could think about what deal i wanted. i paid the rest in cash. that i did not reveal till the end.
we both got the deal we wanted. thats the best outcome imo.
This would have worked 15 years ago but dealerships today only give you auction prices on your trades, trade in values are worthless anymore and I’ve learned this from experience by multiple dealerships, I had a 2012 Camaro SS for trade and the trade value was 16000 I went to at least 5 different dealerships in my area and the best offer I got was 12500 I said to the salesman trade value is 16k and every one of them said we don’t go by trade value we go by what we can buy this specific car for at auction so my advice don’t waste ur time trading in ur car just sell it to an individual and use that cash as leverage
Just got told that as well. So ridiculous.
Lots of cars have equity right now. Traded a Honda in that I owed 18k on and got 23k
This was before the pandemic things have changed since my comment in 2019 the used car market is better for trade ins but also you will pay more for a used car now
@@sd012082right! It was that way before and changed. I have a gas saving plug in vehicle that's worth the same when I bought it.
@@shanicurry7453I’m in the same position rn bro I owe 18k left on my civic and wanna get into a Cherokee srt . You think I can do ok on the deal ?
Your videos are a godsend, man. Thanks for taking the time to make these videos.
Most honest opinion anyone can ever hand down to you thank you 👌
I don’t say this much but that was actually excellent advice. You’ve earned yourself a like, my good gentleman 😂
EXACTLY WHAT I NEEDED!!! Thanks sooo much bro. Glad I search for advice on the subject. Keep sharing!!
This makes such sense. I’ve traded in really good cars before and yet I feel like they don’t factor that into the car I’m trying to buy. It’s always more expensive than expected. So, I’m always scratching my head about my trade in. Where the heck did my $6,000 trade in value go? I know they can’t take that price completely off the car, but it always seems like I got scammed. Waiting till after getting the price down makes sense.
Why cant your car value be a down payment? Makes sense to do it that way.
If you are financing a new car purchase through your credit Union why does the dealership need to run your credit since you’re not financing through the dealership?
1. They want you to use their credit.
2. They are punishing you by hitting your credit for not choosing in-house financing.
This ex salesmen is spot on
I have a friend that is a salesmen and he always advice me not to trade In you old car as they would take it for almost free from you! Peace 🇬🇧
I know this man speaking truth because it’s very difficult for this video to play having all kinds of problems just trying to watch it wow
Even better put your car up for sale for a quick sale price above trade in after getting your price. Go in between trade in and private party value to get this number.
Is better to buy a semi used car all cash or at the auction and just fix it to your style and not have any payments debt is the devil.
That is exactly what I was thinking about doing! giving them 1 factor at a time.. haha Thanks man
👍
I got off the hook, for my trade in, transmission had to be replaced, guess dealers can't do nothing with vehicle
How so can you explain the back story
Thank You Sir! Your advice is literally word for word what I have been doing wrong. I’ll follow your direction and it can only get better! Again, Thank You Sir!
Thank you so much! Going to trade in my car and I needed this!
The key is, if you are afraid to walk away, they will get you. You must be patient and in a position to walk away. You'll get your good deal, but you must be disciplined and fair negotiator. Don't be unreasonable.
And dont negotiate with emotions.
Solid ass video man. Appreciate the honesty
👍
I appreciate this guy. For the people and get an upper hand on these terrible car deershiis
Yup. I got nothing against the car business but the consumers are the ones that get ripped off everyday.
Listen to this guy very smart dont tell them you got a trade in u til you get a price they will devalue your car so its best to save your teade in last
Exactly!
I could see this working because if you bring up the trade in at the beginning of the deal you will never know if you are getting a good deal because you told them about your trade in which leaves room to be lowballed on your trade in thinking you got a good deal on the new vehicle 💪💯
CMG 6 or you can do some research know what your trade in is worth and not have to do any of this.
Great advice!!! I’m actually going to test drive two vehicles this week. One I have not mentioned anything about a trade-in, unfortunately, the second dealership when I inquired online, I added my trade-in.
I've done this before when buying my Camaro back in 2009. It worked!
Cool👍
I always get the Carvana trade in price before I go into another dealer to buy my car. If they cant match or beat Carvana, then I just sell to Carvana then either buy the car at the dealer or buy the car first and sell to Carvana the next day and use the proceeds to pay down the new car loan. Then if need be you can refinance the balance with your credit union or bank
This is free game, thank you bruh
One question. Does this also apply if I still owe the car? I just bought a car about 6-8 months ago, still paying it but want to upgrade and trade in. Let me know. Thanks for your help
Did u find out if this applies? I’m wondering the same thing
@@efra23cruz18 yes it still applies. I just did that with a 10th gen accord I bought 2 weeks ago
Damn why didn't I see this video first before I got my new car
Exactly 😩🤣
Strait and to the point! Thank you!
Try the divide and conquer method. One person negotiates trade-in against a high profit margin car while the other negotiates the best price for the car they actually want. Then they meet up and combine offers.
The dealer will say, if I take that car, I'm taking liability and I have to run it trough our shop, clean & fix in order to resale so he will always give u a lower trade in value for your car
I really am thankful for this video!!!
But what if your trade in is an open loan??? Won't they see it if they run my credit?
From my experience if your credit is good enough the bank won’t require you to trade in the open line. You can have more than one open auto loan at a time.
Exactly what I thought that was how to do it....ooooo and im on budget. And best to be timing this during banking hours at the dealership. And i sold cars for 3 months until i moved to another state...something I learned never to bring up w the salesman lol. Dont know if you even talked about the down payment amount in the beginning when you walk in.
What if the car isn't paid off fully? How much should you target if there is going to be some negative equity in the deal...
Same question did you find out
I knew I wanted to buy a 2023 Toyota Tacoma last year but I wasn’t in a rush. Basically, I just had to go pick up the Tacoma, so I worked the salesperson via text for about two months. As soon as I gots the deal I wanted, I showed up the next day and bought the truck.
I did the same thing buying (leasing) a Jeep Wrangler. Found a dealership that had one on order with the options I wanted. Negotiated lease by email, made credit app, made an appointment to pick it up when it arrived. Dealer is an hour and half away. Drove up to fetch it with my wife and grandkids in the car. They wanted me to go through the F&I process, but I just shut that down. “Not Interested in buying any of that. This is a lease.” Was out of there in 15 minutes.
Thank you, Rodney! This helps a lot.
You're very welcome!
Besides the price of new car and trade in allowance the dealership can make money from financing, extended maintenance plans, and dealer installed accessories or procedures like pinstripes, oil change plans, and more.
Thank you for this video. I’m sure now I didn’t get a good deal in the past!
4 years later still watching this video everytime I wanna trade my vehicle 💪🏾
Harder to do this during co vid times. Every dealership is lacking sales so negotiating is so slim.
What I have done is tell them to give me figures with and without the trade and negotiate the final price there. I saved a lot of time doing that. You actually spend more time and they are more likely to play games.
keep blessing us with this KNOWLEDGE
Thanks for watching!
Two thumbs up! Very Direct &to the Point!❤ Good Job
In Arizona the dealers are refusing to negotiate. The price is non negotiable. You want the car? you pay the price.
The main thing thats always running thru my head is after they hv my trade in and a week from now the loan falls thru and they want you to pay more money a month for the car or you hv to bring the car back then what. Because I know this does happen. This is why you go in during banking hours? So its not rushed getting approved before actually getting approved
I laughed when I saw this video. Was thinking exactly of doing this but your reminded me.
Smart man!
This is we’re I failed, going to another dealership tomorrow. I’ll be saying I don’t have a trade in.
How do this work with a vehicle that your financing(dont own)? Should I take said vehicle as trade in to the same dealer I got it from?
Like my situation is I have a 2019 accord sport 1.5 but I want the 2020 sport or touring with the 2.0 motor instead. I went for my oil change and I was just talking with the salesman and they were saying they would put me in the 2020 right then and there same color but with the 2.0 for 703 a month but that's hundreds more than what I'm paying for the 19 and I got it new with 9miles on it. My credit is the exact same as it was when I got the 19.
Lol 703 a month why you want a 2.0 for racing just be happy with the 1.5 be debt free
@@juniorj.5108 what did that have to do with my question? I want what I want, i never said 703 would break my pockets.
Sick Teeth Dude, Setup the headshots and interview with some agents. Great Content
Awesome Tip! I 100% agree with what you said.
Dude, your videos are very helpful, thanks for the effort
So if they ask how much we will be putting down what do we tell them? Before letting them know about the trade in.
Put nothing down that’s the whole point of a trade in
That’s what I’m trying to figure out too
There are actually 3 deals you are trying to make if you trade in a car and get a loan. The new car, the trade in and the interest rate on the loan.
The only problem is one doesn’t always have the option of bargaining when a low credit score is a factor. 🤔🙄🤷🏼
Then work on improving credit first
@@TJL-z8p like who has ‘forever’ to work on their credit🙄🤷🏼
@@Cornbread-gi6kthave you had someone add you as an authorized user to their credit card?
@@305vlogz2 Never allowed myself to become a contributing factor of someone else’s discrepancies.
@@Cornbread-gi6kt very true, but you can temporarily boost your score up, get a car and have the person take you off their credit card, then just keep making on time payments on that car to build up yourself
I hate that you even have to play these stupid games with dealerships. I’ve only purchased one car in my life and I never wanna go through that process again. I’d honestly pay more just to deal with carvana. If I do go through a dealership again, I’ll definitely use this tip
Wow I didn't even know i was following you I hope you keep dropping jewels like this. Thanks.
Thanks for watching!!
You forgot some other important things about trading in your car.
1. Make sure your car is clean it show the dealer you're taking care of your car
2. Have at least a half tank of gas
3. Before you let the dealer inspect your trade ask them how long it will take to appraise your car and DEMAND that you get your keys immediately. The dealer will hold on to your keys for as long as possible this tactic works in the dealers favor you can also go with the dealer when they appraise you trade.
4. If possible make sure no warning or check engine lights are on.
This is all based on my experience trading in cars and most dealers won't tell you but these are somethings they look for to determine how desperate you may or may not be to trade and get another vehicle
😂😂😂😂😂
Hello sir I hope you doing great,that’s a good work you are doing on you tube helping and sharing your knowledge with peoples.
I have a 2021 Lexus NX300 that’s recently paid off. My wife wants a bigger Lex, say the RX350 or similar but we do not want a car note. Would the best strategy be to first find the best deal they have at the dealership for a 2017/2018 RX SUV and THEN trade the 2021 smaller NX for an equally valued but slightly older but larger RX SUV. The key point is to not be saddled with a car note
Great video. Question..... a dealership said the KBB trade in value I looked up online is different than the KBB all dealerships use and they are charged $25 per KBB pull. What is this? Sounds like nonsense.
Dealerships use black book. Blue book is for private sales
So simple explained and clear. Thank you
hey rodney samuels, the only issue is they dont negotiate to a lower price, until you show you are realy serious and willing to make a deal right then and there.
Thats true, if you want the best deal on a used vehicle go in at the end of the month. On new vehicles compare the MSRP(factory official window sticker)
to the Sales Price and depending on the vehicle make sure its thousands less than the MSRP. A salesperson is more inclined to work harder for you if you are there to buy a car that day!
When you come back later with your trade in they still going to low ball you on the value...But good thing you can always walk away again!
Yep! Walk away without the car you went there to buy 😂
You are right. Walk away. Don't ever be desperate to get into debt. There is always another car. If they made one they made two...walk
Has anyone tried the government auction site he linked?
Great advice, thanks (from UK!)
This is great advice for people with good credit and if you don’t owe money. If you’re buried doing it like this will have you walking out in that same used car. Second if I need to show more for trade than it’s worth to help make a deal because of you credit you again will be leaving in that same old car. I’ve had customer do it this way and when we gave them fair value it wasn’t enough for the down payment. It is still good advise just not always this straight forward depending on people’s circumstance.
Yeah. If your buried, your buried. This tactic won't change that
Rodney Samuels TV trading in a car you owe money on
Bless you Rodney. Good day.