I went to 2 different dealerships looking to order a new truck and trade in my current one. There was a $5,500 difference in trade in value between the two. That surprised me. This might go to your point about the relationship you have with the dealership and salesperson. The higher trade in was from a dealership I bought a car from last year, and the 4th vehicle from that particular salesperson.
Capping the thousand bucks up front on a trade in is new to me. I was told that the dealer fees were put away for cars that sold below what they bought them for. He said the market could dip on a vehicle at any time.
Different dealers have different principals. One salesman I worked with at a local new vehicle location while working on a trade in his private cube asked me to step outside with him. We proceeded to walk down the lot away from the building. He then turned away from the office and said to me in a low voice. Your a cash trade customer. You are not going to get any kind of deal here. This place caters to two different customers. 1 the old people that come in and say I want that vehicle. How much? 2 the people that come in and say I want that vehicle. How much are the payments. He knew what he was talking about. I still give them a try but other than one new pickup I traded for 2 years ago I have had no luck since the salesman talk to me 20 years ago. I paid them a visit last November and the same thing happened. 20 minutes into negotiations they still wanted MSRP - about 7% and lowball me out of my 2 year old trade that I had gotten it's trade value out of Kelly Blue Book and Edmunds. Lucky there are a couple dealers selling the same brand vehicle in nearby city's that will work with me. One time the dealer I traded with transferred the vehicle in from the dealer mentioned above.
There is no honest deals when it comes to a dealership there job is to make the most money as possible. They do this by first making you come in to the dealer first. Once they get you to come in they will hold you hostage until you give in. So rule of thumb is always contact the internet dept. and get your quotes online and have it in writing through email before going in to buy your car. Most of the scam happens when you get to the finance dept where they try to sell you all the unnecessary stuff like extra warranty,paint protection, window etching, undercoat protection, wheel/tire repair.
Never spend your cash on a depreciating asset. Buy at a low little to no interest rate, invest the money was spent in cash, and make a return on your investment instead of a loss.
What’s your advice if I have a trade in with negative equity? I got a very bad deal on my car, buying used and I still owe $3000, and it’s likely only Worth about 2000 in trade. Should I bring this up from the beginning of the price negotiation of the (new) used car or wait till I have negotiated the price partially or fully? Thanks, the video was very informative.
I like the video but very much disagree with your last points on with holding info. Dealerships intentionally withold info from us so why can't we. The only thing is does is takes control away from them which they hate. I also do a bid system and ask for thier best price and copy of thier invoice and tell them I will compare it with all other dealers in my area. Some hate this and the honest dealers don't care. I always backdoor a trade with a CarMax offer and multiple other offers. I have had 2 dealers refuse to do service with me after that but cars are plentiful and someone is always willing to do a deal. The way I see it if you keep them on one subject at a time it's very hard for them to pull a shell game and pull money from other places. I am always looking to get acv from my trade and that's it. Nothing unrealistic Just my 2 cents but I refuse to play the game and I also refuse to deal with anyone that pulls out a 4 square or had the sign here if the deal is right. Since that's the old school scummy way of doing business
Asking to see the invoice on a new vehicle is KEY! So many people don't do this or just get shy and withdrawn when the dealer tells them no. If a dealer says you can't see the invoice, they are being shady. Walk away and find a different dealer who will be honest and upfront. End goal should always be to get a new vehicle for invoice minus holdback if you can. As for the trade in, a Carmax offer is priority #1 in my opinion. Once you have that in hand, you have a great starting point and fallback. Get offers from a couple dealers after that and see how they all look. Of course KBB, Edmunds, etc. all help you know what is realistic as well but should not be used for negotiations in my opinion because those are not actual value.
I disagree totally w u! The dealer or salesman is not there for u! Lmao! U don’t have to buy from 1 dealership. There are 💯’s of dealerships out there. U don’t look for an honest deal! There is no such thing! There’s a best deal! Never trade ur car u will lose thousands, never finance w the dealer ( they will lie bout APR-dealer makes money w banks, and never pay for delivery or documentation fees!) These are Total rips offs! Have ur financing in hand from credit union and negotiate 20% below MSRP! Why? Because once u drive the car off the lot it just depreciated that amount ! Be smart...once the dealer starts to lie or BS u just leave and don’t look back Dealers are scammers
I traded my Chevy Colorado for a brand new ram rebel msrp 53k otd for 46k . I went to three different dealership the first one offered me 20k but it doesn’t have the color I like, second one offered me 18k , and the third one is a Indian guy offer me 13k for my truck wtf . At the end of the day I bought it at the second dealership because they finally gave me 19500 for my old truck.
Just curious if there was a reason you advised that you took your truck to 3 different dealerships, however you only chose to list the ethnicity of the "indian" guy at the 3rd dealership. Were the other two white, black, purple, etc?
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I went to 2 different dealerships looking to order a new truck and trade in my current one. There was a $5,500 difference in trade in value between the two. That surprised me.
This might go to your point about the relationship you have with the dealership and salesperson. The higher trade in was from a dealership I bought a car from last year, and the 4th vehicle from that particular salesperson.
Very helpful.
Capping the thousand bucks up front on a trade in is new to me. I was told that the dealer fees were put away for cars that sold below what they bought them for. He said the market could dip on a vehicle at any time.
Please consider advice video on purchase of new car or truck when you have no trade.
Different dealers have different principals. One salesman I worked with at a local new vehicle location while working on a trade in his private cube asked me to step outside with him. We proceeded to walk down the lot away from the building. He then turned away from the office and said to me in a low voice. Your a cash trade customer. You are not going to get any kind of deal here. This place caters to two different customers. 1 the old people that come in and say I want that vehicle. How much? 2 the people that come in and say I want that vehicle. How much are the payments. He knew what he was talking about. I still give them a try but other than one new pickup I traded for 2 years ago I have had no luck since the salesman talk to me 20 years ago. I paid them a visit last November and the same thing happened. 20 minutes into negotiations they still wanted MSRP - about 7% and lowball me out of my 2 year old trade that I had gotten it's trade value out of Kelly Blue Book and Edmunds.
Lucky there are a couple dealers selling the same brand vehicle in nearby city's that will work with me. One time the dealer I traded with transferred the vehicle in from the dealer mentioned above.
There is no honest deals when it comes to a dealership there job is to make the most money as possible. They do this by first making you come in to the dealer first. Once they get you to come in they will hold you hostage until you give in. So rule of thumb is always contact the internet dept. and get your quotes online and have it in writing through email before going in to buy your car. Most of the scam happens when you get to the finance dept where they try to sell you all the unnecessary stuff like extra warranty,paint protection, window etching, undercoat protection, wheel/tire repair.
Good information Ben, keep up the good job and keep improving!
Buy cash and avoid all this mumbo jumbo !
Never spend your cash on a depreciating asset. Buy at a low little to no interest rate, invest the money was spent in cash, and make a return on your investment instead of a loss.
Great video, very in-depth and imformative. Any one trading in a vehicle must watch this first! 😉
Good video. Just watched this one and the one on buying a new car. Good stuff. New Sub.
Love the comments, everyone’s an “expert”. I’ll have to check back and read more of them 😜
Life 'n Times I know🤣🤣🤣
No expertise required. If you paid attention in grade 8 math, there's nothing to worry about
I guess they didn’t teach sarcasm
What’s your advice if I have a trade in with negative equity? I got a very bad deal on my car, buying used and I still owe $3000, and it’s likely only Worth about 2000 in trade. Should I bring this up from the beginning of the price negotiation of the (new) used car or wait till I have negotiated the price partially or fully? Thanks, the video was very informative.
Never trade in when you’re upside down. Wait till it’s paid off.
I like the video but very much disagree with your last points on with holding info. Dealerships intentionally withold info from us so why can't we. The only thing is does is takes control away from them which they hate. I also do a bid system and ask for thier best price and copy of thier invoice and tell them I will compare it with all other dealers in my area. Some hate this and the honest dealers don't care.
I always backdoor a trade with a CarMax offer and multiple other offers. I have had 2 dealers refuse to do service with me after that but cars are plentiful and someone is always willing to do a deal. The way I see it if you keep them on one subject at a time it's very hard for them to pull a shell game and pull money from other places. I am always looking to get acv from my trade and that's it. Nothing unrealistic
Just my 2 cents but I refuse to play the game and I also refuse to deal with anyone that pulls out a 4 square or had the sign here if the deal is right. Since that's the old school scummy way of doing business
Asking to see the invoice on a new vehicle is KEY! So many people don't do this or just get shy and withdrawn when the dealer tells them no. If a dealer says you can't see the invoice, they are being shady. Walk away and find a different dealer who will be honest and upfront. End goal should always be to get a new vehicle for invoice minus holdback if you can. As for the trade in, a Carmax offer is priority #1 in my opinion. Once you have that in hand, you have a great starting point and fallback. Get offers from a couple dealers after that and see how they all look. Of course KBB, Edmunds, etc. all help you know what is realistic as well but should not be used for negotiations in my opinion because those are not actual value.
More UA-cam gold. Thanks.
You had me till you said “dont withhold trade information.”
I disagree totally w u!
The dealer or salesman is not there for u! Lmao!
U don’t have to buy from 1 dealership.
There are 💯’s of dealerships out there.
U don’t look for an honest deal! There is no such thing! There’s a best deal!
Never trade ur car u will lose thousands, never finance w the dealer ( they will lie bout APR-dealer makes money w banks, and never pay for delivery or documentation fees!)
These are Total rips offs!
Have ur financing in hand from credit union and negotiate 20% below MSRP!
Why? Because once u drive the car off the lot it just depreciated that amount !
Be smart...once the dealer starts to lie or BS u just leave and don’t look back
Dealers are scammers
Hey buddy, please make a video about buying new car or used car 👍🥇🤩😍😎🤪❤️🙏👋✌️🙏🙏🙏🙏🙏🙏
Do you think $53500 OTD for 2020 Mustang GT Premium thats fully loaded a good price with 0% APR financing? Any help would be appreciated. Thank you
Fucking horrible, HORRIBLE unless it’s a get 350 or 500. A fully loaded mustang gt with a fair deal should only cost you $36k out the door
Good info, best line don't ba a dick..lol
I traded my Chevy Colorado for a brand new ram rebel msrp 53k otd for 46k . I went to three different dealership the first one offered me 20k but it doesn’t have the color I like, second one offered me 18k , and the third one is a Indian guy offer me 13k for my truck wtf . At the end of the day I bought it at the second dealership because they finally gave me 19500 for my old truck.
Just curious if there was a reason you advised that you took your truck to 3 different dealerships, however you only chose to list the ethnicity of the "indian" guy at the 3rd dealership. Were the other two white, black, purple, etc?
You need to cut your dog’s nails.
Tim Marlaev If you do, don’t hit the nerve.
Dogs Rule