Six Lies Car Dealers Tell That Are Not Illegal - Lehto's Law Ep. 5.142
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- Опубліковано 2 жов 2024
- I hear about a lot of the times car sellers LIED to car buyers. And many of those lies are not actionable because they are not against the law.
www.lehtoslaw.com
"This car is a great price" isn't a lie... the salesman meant it's a great price for the dealership, not the buyer.
Lmaooo ok ok that is 100% hilarious, perfect comment!
That and great price is very much up to your own idea. You could absolutely say something is a great price and mean it and not be lying, but the rest of the world will not agree with you. Price is in the eyes of the beholder. I buy things that are collectible all the time that my siblings think are huge waste of money and not worth anything but to me they're priceless.
Six greatest words in any transaction: "Can I get that in writing?"
Lehto, I have to give you “props” for your prolific uploads on UA-cam of legal advice that is substantive and entertaining. Keep up the good work.
Car sales man: "You....."
"I sue car dealers for a living" LoL
If a dealer's lips are moving, he's lying.
Buyer's are liars. I've sold cars!
@@tomnisen3358 Cool story bro. You can't even work an apostrophe properly.
Steve I think the best advice is if you get a bad feeling about the car or the dealer walk out. If they lie to you about financing, gap insurance, condition or anything else that bothers you walk out.
Also NEVER, NEVER NEVER NEVER buy the third party warranty. If you’re going to buy one get it from the manufacturer. In some states you can cancel the extended warranty and get a prorated refund if you accidentally buy a third party warranty.
I’m shocked, shocked, to hear that lying is going on in car dealerships.
Captain James ...but we'll always have Paris.
10bbremer - I was wondering if anyone would get that 👍🏻
I had a mechanic I used for years, as honest as the day was long. He checked out every vehicle I ever tried to buy. Warned me off of a number of bad ideas.
Any time I have stepped foot in Walmart, or on a car lot I lose all faith in humanity......
Or a phone store.
You missed a big one that is used very often. "If you don't like it for any reason just bring it back within 30 days and we'll sell you a different car". The buyer assumes that since there is a 30 day cut off that he will receive his full purchase price towards his new selection when in actuality all he is doing is buying another car from the dealership. That car he just paid 20 thousand for is now only worth 17 thousand on trade. The salesman never said that he would get all his money back he only said he would sell him another car.
I would recommend everyone to use a website called autotempest it searches Craigslist eBay car max and loads of auto dealers just with one search bar you can really see where the market is on any vehicle
Car salesman took the keys of my trade in for a test drive, offered much less money than book value, then would not return my keys when I told him the deal was cancelled. I had to phone the police.
Dealerships will add percentage points onto the loan for their profit. They might run your credit and come back with a 5% rate from a local bank but then they tell you the rate the bank gave them was 7.9% That 2.9% is pure profit that goes into the dealerships hands. I know this because I got a loan from my bank before looking at used cars at 4.7% APR. The dealership ran my credit, just to see if they could get a better rate. They came back with a 7% rate .. FROM MY SAME BANK! I laughed. I told them why would I take your 7% when I already got a 4.7% APR from the same bank? The guy went back to the loan guy again and then came back and said they ran the numbers again and it came back as 4.69%. Magically it's lower than the rate I got from my bank. I asked them why was it lower when I got a 4.7% rate from the same bank. He said they work with the local banks a lot that the banks give them a deal on loans. So I used their rate since it was 0.01% lower than mine. Saved myself a dollar during the life of the loan lol.
I binge your videos soo much, i probably watch 13--20+ a day very good subject matter all the time i like when ur eyes dart around and they end up resting on something off screen we the people cannot lol
Good vids good vids
Car salesmen and dentists. Two sides of the same coin. I will give you top dollaar and I think I see something on that xray.
I had the dealership grab the car I wanted from a dealership that treated me bad. I got my car and didn't have to deal with the dealership I didn't want to deal with.
They still made a profit, they're not letting go of that car 4 free. Prob cost u more in the end...
If you look up the word “great” one of the definitions is “large”. So yes, it is a great price.
So I take it that you would not be on a great wage !
Driving along... "Hey, Honey, there's 12 of the 'last one in the county'...". Great stuff.
a few years back i went to a brand dealer to look at a used SUV, the price on their website was 16k, so i look the the SUV, drove it, all was good, then they would give me 4.5k for my 8 year old car all was going well then i see on the sales bill 17k for the car, i said hold on, your web site said 16k, so they check and saw to was 16k on their web site and ok we will lower it to 16k but we giving you 3.5k for you used car, so i was like wtf so because you give me the price that was on your site your going to knock down my trade it value, they said yup, i said ok goodbye dirtbags and left and never went back there, advised everyone i talked too never to buy a car there.
Years ago I went to a car dealer in another town to buy a new Miata. I cut a deal with the guy at a very low price with the plan to finalize the deal the next day. On the way home, I stopped at my local Mazda dealership. The salesman there told me he couldn't go that low as the out-of town-one, but he also added "They are not going to sell the car to you for that." Sure enough, the next day, they had a new higher price. I went back to my local dealer salesman and got the car for just a little higher than the original out of town price. Not only did I end up putting over 120,000 fun miles on that car, but I stayed friends with that honest salesman for many years. Interestingly, he had a degree in psychology before selling cars.
@@johndough23 That certainly could happen, but not in this case. This guy was one of a kind.
For used cars, I bring an OBD II scanner. They are cheap these days. Dealers can reset engine codes and you won't know it till you've driven a full drive cycle, then the money light comes on.
I worked for a few years doing facilities maintenance at U-Haul and overheard an interesting conversation in the used truck salesman's office.
Customer: "I was in here about 18 months ago and you told me the truck I was buying had a good engine, but the transmission was marginal and might only last a year or maybe two, at most. You must be psychic. The transmission just quit and is in the shop being rebuilt. Do you have another truck I could buy?"
I am confident in the fact that I'm not a car expert. I'm not an amazing driver -- I'm average at driving.. maybe.. And since I've not got a lot of experience evaluating the driving experience of other cars, then I know my opinion would be, necessarily, lacking.
For those reasons, I arrange (beforehand) to have a mechanic that I trust to come with me that can inspect the car. He usually brings his kit (little car computer that he plugs in) and gives me loads of useful information.
It might seem expensive to pay a guy $200 only to not buy any car -- but that's usually many hundreds less than the cost of the car. And when there is something wrong which a mechanic inspector notices, then you KNOW it's not something that is only going to cost as little as $200.
Better yet, they can point out things that might not be total deal-breakers but would actually just help you make a better deal... like the back seats need to be replaced, AC doesn't work (might not check in the winter), rear passenger side windows don't roll down, computer sensor faults... you can likely still take the car, but get a much better deal on it. And with that knowledge, NO car looks 'as attractive'.
I embrace my ignorance, because I can plan around it.
I am a genetic carrier of the skeptic gene. Thus, in the last 70 yrs, I have never dealt with a used car dealer. One of my more proud accomplishments.
Only buy new or from first owner!
I also never ask the waitress (or waiter) "What do you recommend" or "Is the good?" One of the things that my father (also a certified skeptic) taught me was to always consider the source BEFORE considering the information.
A very rare car: The LAST Chevy Cruze that just came off the line.
Lmaooo niceeeeee (it was the last chevy cruze, made on a tuesday after 3pm after shift change, with 10% humidity and higher then 50° in temperature)
I have a dealership story, that actually worked out very much in my favor. Years ago I was about to sign on buying a used Geo Metro and the sales rep noticed something weird. The odometer in the car had a couple thousand FEWER miles on it than the title said. I think there was something else off about it as well. They put the sale on hold to investigate and told me couldn't sell me the car at that time. The dealer and the manager both looked *scared*. I looked up the VIN online and lo and behold it turns out it was a salvage vehicle. Which was strange because it looked like a new car inside and out. Anyway they called be the next day told me they found out the title had a mistake on the mileage. They asked me how much I'd be willing to pay and I offered what the car was worth as a salvage vehicle which was about 1/3 the price we had agreed to pay previously, and for some reason they accepted without haggling! We drove it for years then sold it for about the same price we bought it for. Never had a problem with it I couldn't easily fix myself as a rank novice (replaced an alternator and cleaned the gunk out of some exhaust valve.) I'm not sure why the dealership was so spooked about the title error, my guess is they may have been under investigation for shady practices and were trying to stay miles away from any appearance of wrongdoing. I'm not sure what happened to that little car to make it a salvage vehicle but it looked and ran like an almost-new car.
A friend of mine told me a story one time about his father shopping for a car some years ago. He found what he wanted at one place and then went to a second to compare and ended up with a particularly annoying salesman who was giving him all the usual lines, best price, rare options, not many available, bla bla bla... after a couple hours of wasting time, he asked to use the salesman's phone and called the previous place and bought the vehicle over the phone right in front of the second salesman.
I bought a used car from a dealer. The tires were nearing the point where they needed to be replaced, but not quite there yet. They said when they definitely needed to be replaced, I could bring it in and they would replace the tires at cost. Upon quizzing, they revealed that "at cost" meant the cost of the tires plus cost of labor--i.e., what anybody would pay who brought a car in for new tires.
The salesman makes commissions, the finance guy makes commissions, then the paper signer guy makes commissions selling extended warranties. Yup.
If it was illegal to lie, there wouldn't be a single politician that was not in jail.
“If BS was music, that salesman would be a brass band”
Here's my experience with a dealership arranging financing through a third party.
When I bought my current car I walked into the dealership with financing already arranged. After we'd settled on a price they let slip they collected an $800 one-time fee for arranging financing. I offered to finance with them if they'd 50/50 split the fee received off the price of the car. They accepted. End result: I paid $400 less for the car, the dealership got $400 more, and the credit union they used for financing ate a $750 loss (~$45 in fees) on the loan when I paid it off the following week using my original financing.
@ Read it again - I was charged $400 LESS than I agreed, not more.
Grandson (J) was looking to buy his first truck. Gave him pointers, got 3 loan approvals, and tried to make him understand it was a 3 yr business deal not just his first vehicle. He picked out a truck and asked to see the car fax. Dealer said he never pulled one.( (J) was told to walk away if this happened.) ( J ) asked if it was ever wrecked getting a response of no. J let's see and hear engine. He asked his questions as I stood back. Salesman puffed all over that boy. Then J asked for a test ride. This is when I spoke up pointing out that the whole front end had been wrecked, new used everything was obvious. Wouldn't be supprised if it didn't have a totaled title. Wonder how he gets those pass folk. Grandson wound up with a decent deal several weeks later with some grandpa wisdom and bonding.
He about has his down payment for a house this has been a long process to train them. Hope he follows the tips. First salesmen don't get paid until they sell so don't trust.
How do you know a car salesman is lying? His lips are moving...
If lying was illegal, 80% cop the cops would be sued or in prison.
Illegal is one thing, enforceable is another. If they will lie to you they'll lie to the judge, then it's your word/memory against theirs.
Steve, I would have loved to have been there when you handed the sales guy your card. LOL
When does a car salesman lie, every time he/she opens their mouth. To assume anything else is foolish.
With today's technology if you had to buy a car by yourself I highly recommend you do so with a body cam GoPro or some other recording device. And inform the salesman dealership that this interaction is being recorded. Watch how differently you were treated. Because they're definitely less likely to lie when they know it's all being recorded.
I did not want the rust proofing your employees put it on by "mistake" you eat the coast .
I bought a 2016 Mazda less than a year ago from a dealer. They gave me a coupon for a couple of free oil changes. I took the car in for the second oil change and up they came with a list of "recommended optionals" that they say appeared when they checked the car. These recommendations would have come to $1300! I burst out laughing. I told them I bought the car there, which they can clearly see, so did they sell me a piece of junk that it needs that much work? One of the items was to change the two front tires because of low tread. $527.95+ tax. My immediate response was how much is one tire that you can multiply x 2 and get end in an odd number! The second thing is that one of the front tires they told me to change was brand new not three months ago when I fell down a pothole and the tire wall got a hole in it. And yet, according to the dealer it needs changed because it has low treads.
you make too many videos Steve, I need sleep mate... stop it ok?
Check if their lips are moving.
This is this is the kind of video which got me to share it with tons of people I know.
Good rule of thumb, go to a dealership, willing to walk away. I've had car dealers call me next day, or 2 days later and so on, begging me to take a deal with a reduced price after they swore to the moon and stars that they couldn't go any lower. Best time to go is at the end of the year when they're trying to squeeze every car off their lot for tax purposes. :)
A number of years ago a friend, (Bob) asked me to go with him while looking at a couple of used cars. Bob really liked one of the cars but it was a little rough, as I had pointed out to the annoyance of the owner. The guy dropped a little in price but I was still doubtful. Then the guy had a throw away line about loosing a hundred dollar bill in the car awhile back. Bob looked at me with a devilish grin and started to agree to buy it when I pointed out that he didn't really loose the $100, it's just a line. Needless to say Bob didn't buy the car and the owner was really pissed at me.
Excellent information today. Yes, I have been a recipient of the phony scam rust proofing many years ago. 😩
They tried to get me with the "Alarm System", lol, Viper (on Amazon for $34) They wanted $1000
"You need to give me a better deal, Mr. Salesman, because I'm the very last car buyer in the county!" 😁
Great video. I knew most of this but EVERYONE should watch this video.
What is the dealer says This car has a clean title but when you get the pink slip in the mail it’s rendered salvage. By the way I like the Glen Garry Glen Ross reference.
I went to a new stealership and the had a "Special package" that went on all of their cars. The "Special package" included a clearcoat and floormat with their stealership logo embossed on them. This package added $3,500 to the price and was not optional as it had "already been applied" as soon as the cars arrive. I Left there amazed that anybody fell for that.
A similar salesperson lie from long ago, before the Internet existed. I decided to start investing with a mutual fund. I contacted one of the well known Insurance/Financial companies and they sent a salesman. Actually, two sales men. One was slightly older than the other and the other was young enough that I believed the older guy when he said the other guy was learning. So I say OK and tell me what you have to offer. The "trainer" said first he was required by law to know that I had life insurance since that would be required proof that I was financially sensible. I told him and his "trainee" to leave immediately. Even then I knew when a salesman was lying.
At a car dealership the time is always bullsh*t o'clock.
In 1993, we did our research to buy a new car. At the dealership, we negotiated & agreed on a fair price. However, the financial person quoted an interest rate that was far too high. My spouse began to politely excuse himself from the office, stating that he was going to call our bank for a better rate. (We had excellent credit.) The employee practically begged him to sit down, and the interest was magically reduced to what we knew was a proper rate. If we hadn't researched rates (& car prices) beforehand, we would have paid a lot more over the lifetime of the loan.
My personal favorite fake fee: ADM (Additional Dealer Markup) or ADP (Additional Dealer Profit). I mean the gall of just spelling it out on the sticker!! When I bought my first car, I ran into the "Stainguard" for seats and the rust proofing. They told me all the cars on the lot had it. I told them I didn't ask it for it or want it, so I wasn't paying for it. I said they could order me a car without it - I didn't mind the wait. Surprise, surprise - fee disappeared.
Doesn't a car dealer lie as soon as they open their mouth? I never mention the trade-in. I say I'm going to sell it privately so i can get an accurate price for the new one. Then introduce the possibility of the trade.
Number one rule of purchasing a vehicle. Be prepared to leave if you do not get what you want.
Number two rule, do not get emotionally attached to the vehicle. If your significant other does, leave him or her at home.
Number three rule, if it is not in writing, it does not exist.
Number four, do not buy any of the BS they offer.
I am reminded of the Three Stooges routine (before your time Steve ! ) of "Dewey, Cheatem & Howe"
If the dealer accepts your first offer - You’re paying too much.
How do you know when a car dealer is lying to you? They start talking.
It's a time old story.
How do you know is the car salesman is lying?
Answer: His lips are moving.
I had a salesperson try to sell me a warranty on a used car. They kept insisting even promised to drop the price. I looked at the agreement and yes my monthly price was lowered, but the overall price for the warranty was not lowered. Really crappy people.
I had a rather interesting, and telling, with regard to financing through a dealership. When i purchased my truck several years ago i was in desperate straits. I had no vehicle to trade in, almost nothing to use as a down payment, and horrible credit. I knew i was gonna get rooked on financing. To top it off where i live used trucks are ridiculously overpriced. The best price i could find in the range i could afford was 3 hours away and i had to secure financing over the phone. They offered me something like 12% which was better than i expected. While filling out the paperwork they tried to get me to buy the extended warranty and a service plan. I instantly said no because i knew the things were worthless. But then the guy told me "if you buy the extended warranty i'll waive the dealerships portion of the interest. And its cancelable." I did some quick math and figured that even with the additional cost of the warranty i would save money because the interest was cut in half. And then i could cancel the warranty coverage and save even more. You better believe i took that deal. Two weeks later i get a letter in the mail from the financing bank telling me they lowered my interest another half percent. In all i knocked 6 months off my note.
Any thing that's not in writing is meaningless
Not only that, there are other functions at play. For instance a lifetime warranty is void when the company changes ownership and its name, goes out of business or no longer provides that service.
I bought my current vehicle from an acquaintance, we'd had a class together in University and are friends on Facebook. I called him up when I saw his listing, he was asking 1000, I offered 800 because the tires were bald, he counter offered 750 because he wanted to get for it what he spent on it :D
It's been a great little truck, other than having to replace some brake lines (why do they make them out of steel!?!?) I've had no major problems with it.
They make them out of steel because its cheaper. They do have them available in stainless steel but it costs more but will out last the vehicle. Bottom line they want stuff to break eventually so you have to buy parts. if they put parts on that would last a long time you would never have to buy replacement parts
I like getting financed from the dealership. Make sure early payoff has no penalty, then refinance it through my own bank. They usually give you a better deal if you finance through them because they make it up on the financing.
Years ago I bought a one year old pickup from a dealer of that brand. When asked if I was going to finance it I replied do I look like I have that much money in the bank? I proceeded to haggle the price getting down to about as low is it was going. When I got to the finance guy he went to work setting up financing. I asked what the rate was, reply it is a good one, again I asked the rate, reply 18%. Simple or add on I asked, reply add on. In other words rape. So I informed him I wanted it run through my bank, who I had already spoken with. He told me oh that bank doesn't finance used vehicles. Funny this morning they said yes. Very dejectedly he called my bank.
As I was leaving I noticed I only had one key so I went back in to ask if they had a second key. From the showroom door I heard the sales manger screaming at the finance guy " I gave way the GD truck you were supposed to make it up!" Rather quietly I asked "on the truck you gave away do you happen to the the second key?" The sales manager ran over, without saying a word, grabbed the key out of my and ran to the parts counter where he screamed make a dupe of this no charge right now. He then turned and left never saying a word to me.
Apparently the repeat sale was not of interest to them.
After catching them trying to rip you off you still bought from them I would've told the finance guy he lied and walked out
How about all the fees that they add on IE. administration, paperwork...
I wonder about that too. I see a lot of c'list ads for used cars that say things like "mandatory $200 dealer fee". I wonder exactly how "mandaatory" those fees are.
"See, they install that TruCoat at the factory, there's nothin' we can do, but I'll talk to my boss."
“You get oxidation, you got problems....”
Just FYI the rust proofing is done at the factory before the car even gets to the dealer I've been a mechanic for 19 years, and this rust proofing started I want to say about 2004ish depending on the model and make of the car. But it's already done every car on the lot already has it
Talking about how one defines "Best price" of something I remember when my eldest son (aged about 15) was working part time in a computer shop. Someone came in to buy a router off the wall, some expensive Cisco thing. It was listed for £700 with a price sticker. The guy said "give me your best price for that router, I'll pay Cash". My son looked him straight in the eye, tapped the big calculator to look like he was coming up with a price, and eventually told the guy he could have it for £840. When the guy said "It says £700 on the sticker" my son said "you asked MY best price. £840 is the best price for me".
With respect to trade in value: ask them for actual cash value. That is what they would be willing to pay you for the car whether you buy from them or not. THAT and only that is the value of your car unless you go and sell it yourself.
😮. The school of hard knocks! Thank you.
Man bad salesmanship pisses me I've always been honest with even if my boss wouldn't be happy with it because guess what people appreciate honesty and when you tell them something that may turn them away that usually realize you're doing it so that they have an informed decision on the business that they're supporting and I have never had it backfire. Poor/shady salesmanship pisses me off.
I still don't understand how it's not regulated that a vendor can say something is required to buy while it's not.
I cannot stand when dealerships slap a mark up on certain cars because they are “rare” or “a early model” or whatever so frustrating!
But I went to buy a car cash and they acted like they did not want to sell me the car without financing it another annoying thing they do....
Or go to KBB (Kelly Blue Book) and determine the price that way. If its dramatically higher than blue book it's a bad deal (especially if you cant talk them down close to or at blue book price). If it's at or below KBB it's good. And I've always practiced pre-approval through my credit union that way as far as price I'm in control.
Get hold of a recent Black Book! Wholesale value with adds and deductions.
Dealer deserves a profit of at least what the sales tax percentage is.
"This car runs great"
I've experienced the opposite of that as a lie.
S
I was sold a vehicle at less than half fair market value for one that ran. Misfiring on 2 cylinders and sounded terrible. Previous owner told the dealership it needed an engine rebuild.
Dealership told me it needed an engine rebuild.
I fixed it by putting the plug wired in the actual proper firing order and I still drive that same truck years later.
That just sounds like a classic case of buyers remorse! Hahahha
One of your best videos yet, as it applies to the about 10 million new cars sold each year in this country.
I've been involved in this (literally) hundreds of times, and as you suggest you MUST walk away. My "friends" who I was helping purchasethe new car, more often than not refused to walk away, and believed the salesman, over me. One of those persons was my own father. But since I was the one "purchasing" the car, I gave the salesman my father's phone number (with his permission), and I said "watch" what happens with the "sale." He couldn't how the salesman keep calling back with new offers.
One thing you can today, to avoid car dealerships altogther, is buy a new car on line. Everything is in writing and it avoids some of the mentioned issues (i.e. salesman).
I hate with a passion those finance specialists. Electronic warrenties,gap insurance, extended warranties. The last one I dealt with was getting pissed at me because I said no to everything
The extended warranty and gap insurance does make sense for a brand new car. I feel you for not accepting any of the extras.
@@roxcyn No extended warrenty do NOT make sense for new car. 1 they come with factory warrenty. 2 extended warranties pay out like .25 cent on dollar. Hell casinos are required to pay out more then that! 3. Most experts say instead of waisting money on extended warrenty. To put that money into savings account in case car does break down.
@@roxcyn Gap insurance is whatever. my auto insurance sells it way cheaper then dealership did.
@@Kenny1594 - Thank you for providing that information.
no Counsler, you were correct on both sides of the word "churning" ! used cars are being churned out every day, the second you drive that brand spanking new car off the lot it becomes "used" doesn't it...?
( addendum)
GREAT CHANNEL! you spend an awfull lot of time and energy breaking down a mostly foreign language into a sensible , digestable argument for the common civilian...wrought with doses of common sense and writs of humour. Confucious says " where ever one looks, there is something to see"
If you get in an argument with a dealer, or they are pressuring you, use the most powerful weapon you have against them. Just walk away. They will do or say anything to make you stay. They may even intimidate you. Just get up and walk out.
not true. I wanted to pay $700 less than asking price on a vehicle recently, they said they will take off 250, I said no and walked and they were fine with that.they know the next guy will pay full price.
Oh and just a heads up, I work for a company that makes parts for American auto makers. They are sitting on 4 months worth of inventory right now. They are playing chicken with the American car buyer hoping we blink first. Sooner or later they are going to have to lower prices to get that inventory moving.
I worked for car dealers doing IT and Never buy from a car dealer NEVER, buy from a owner. Most Consumer Protection laws are useless feel good legislation that a politician can brag about but won't get them in trouble with the Chamber of Commerce
$100 on the shelf nice 👌 love the show great info
Some of those statements are not lies due their opionated wording. A fact can be proven. Opinions are based on your own ideas. Best thing look without salesman. Another tactic to watch for is playing on your emotions, or your spouses emotions to try to get them to pressure you. A way around it is research and sleeping it off so you might be able to think rationally.
If they insist on a same day transaction it likely wasn't a good deal.
Once had to help my sister find a new car after her divorce.... the dealer was of coarse running games on her. I asked if we could test drive it. We left and I took it to another dealer of same make; told them if they could make better deal we would do it. It was toward end of month. Dealer #2 was thrilled.... made the deal. very good one I thought. Reason it went this way was because sales people, sales managers move around a lot ; revenge was wanted! I said we would be back after returning test car. Reply was HELL NO we are going to make them come and get their car or charge them to return it. Just a note: this has worked more than once.
Former car salesman here. A lot of time the require to finance through them is because dealership makes money on the back end so they might agree to move the money from the front to the back. The other reason that would be truthful might be because the brand financing (ford motor credit, etc) has rebates that only apply if financed through them. I’ve had customers decide that, after they were given a “if you finance through ford” price, they want to go through their bank and get the price that ford was paying into it for financing through them. If you want the best car buying advice, get it certified. That way you get a warranty and it has to meet specs.
What does it mean to move the money from the front to the back?
@@joseville the front is the sale of the car. The back is the part you don’t see like warranty cost (to the dealership) and what they make on the trade. So if I give you more money on the trade but give you less of a discount on the car (or charge you more) to make up for it, I’m just moving the profit from back to front.
Not to mention, most dealers (aside from that one you have talked about in the past), include that clause on the contract/bill of sale that that makes that document the sole binding contract. They can promise the sun and moon and if it's not on that document it never happened.
Never.... trade in a car....and never... ever... believe what these fuckin car dealers say.... great video btw...
@Cellphone Dave What value do you put on your time wasted on tire kickers and dead beats coming to your house ?
In 1998 I was buying a new Chevrolet Venture van. GMAC had something like 1% Interest rate on a loan. I found a left over 1997 new van on the lot with everything on it I wanted and had some extra discounts because it was a 97. When I went to pick it up the sales person said I got bad and good news. The bad news was that the 97 did not qualify for the low interest rate as it only applied to 98's. The good news he said was we could keep the payment the same would just have to add 3 or 4 months to the length of the loan. I looked at the sales person (his name was Marty) and told him he should have checked that before and that we were done. I walked out much to his dismay as he followed me to my car. I drove away and ended up buy a 98 a month or so later at a different dealer very near the price the 1st dealer wanted for the 97 plus at the lower interest rate.
Ford dealer told me how the new, (at the time), T-bird was selling like hot-cakes, and the one they had in the showroom was the last one they were getting, so they weren't negotiating price. ONE-THIRD-TRUE: It WAS the last one they were getting, because no one ever bought it:^)
I found a very low mileage truck it's a 2005 Chevrolet ssr collectors edition the owner kept the truck in the garage.the owner assured me you'll be happy I can assured you you won't be disappointed in the truck i told him o.k. Being a wise consumer i want to take it for a A.P.I inspection by a A.S.E mechanic.
I got financing through my bank at a good rate, but the dealership came in a half percent less, so I went with them. So not always a bad idea to get financing from a dealership, but do shop around.
What do you think about car dealers adding on a fee for doing the paperwork after you have negotiated the final price ?
They did paperwork for free or they just voided the contract 🤔
Always negotiate the price as an out the door price without mentioning trade or needing financing. Once you have your price then work in the details and they will be much clearer. Also be very polite and thank them for their time as you walk away when they won't negotiate. Either you will save yourself from dealing with a douche or they will bend and come after you to try and make the sale. I love watching them get nervous when I get up from the chair and check my watch.
Saying it is a "great price" is a subjective term. That's why it's not illegal.
When I lived in Lake City FL. there was a used car dealership called Hunnicuts and the owner financed the cars and his moto was if the car dosen't run then you can't get to work, then neither one of us makes money. I wish more was like him.
Look at alll used car dealers as if they're democrats and you'll understand all you need to know.
Excellent!
Look at all car salesmen as Republicans and you will understand it's all your capitalist responsibility.
I buy my cars by writing a check. No financing nonsense.
I bring cash and a gun
Don't pay cash for a car if the loan in less than your money can make by investing it........
@steelmesh Try that strategy in 2008, your "safe" investment not only doesn't pay 6.25% but drops by 50%, you lose your job, can't make payments, and they repo your car.