What if you come into the dealer, get the OTD price, then say you're here to pay in full and plop down a wad of cash?

Is this something u need 2 pay a membership 4?

Do you ever do videos on car buying in Canada? Thanks

Am I hearing you call him dad? If so Thts really cool. The fact he’s on a “hit list ” w dealers now speaks volumes about tht car buying market

@@13BGunBunnyat tht point YOU make the rules

That would be so good to have in the states! Our government needs to step up to the plate and act against the corrupt dealership pratices

WHO CAN AFFORD A CAR IN PUERTO RICO !!!!!!!!!!!!!!!!!!!!

If you have a vehicle you are trading in, that will be next to impossible.

Yes, that's the thing. When it come to P.R. its a little different but is great that is going in a good direction.

that’s why you’re a backwards, third world island 😂

Hopefully you tipped the salesman well, poor guy doesn’t get paid like managers, all that work for people not to tip them is sad. Some waitresses make more than some salesmen that end up giving the car away and giving awesome deals but they don’t get any commission. Just hours like waitresses, yet they don’t get tipped 😢

@@salakerz324they don’t get tipped you’re right. A friend of mine worked as a car salesman for a while, he told me all of those discounts that a lot of us generally don’t qualify for like military, second time buyer, college student etc, if unused by the buyer are called bucket money. They just fill out the forms for one of them and take it.

@@salakerz324 Not my problem period

Some of us do.

Hi Courtney, I'm a woman in my forties and did lots of research before I bought my new suv in 2015. I went in by myself, without my husband because he doesn't have a lot of patience when shopping in general. I was worried I would not be taken seriously because I'm a blonde woman. I had already been to another dealership and got an out the door price wich was several thousand lower than when we started and I said I have to sleep on it. I then went to another dealership asking about the same year, make, model suv, same trim line. I told them that I already had another dealership willing to give offer a price of x about of dollars( I had already subtracted $1000 off) for the same suv. Then they, eventually, met my price but then I said that the other dealership was going to throw in remote start and no extra surcharge for the (special color, which was blizzard pearl, worth $500 at that time)). The guy was so frustrated, he said fine. But I wouldn't sign the agreement until he wrote down/added on the remote start and special color. 😏 Then when I went to pick up the suv, ( it was sent from another dealership), it had several upgrades already in it. They said I can take this suv with no extra charge for the upgrades or I would have to wait another week. So, of course I took it. I made out like a bandit! If I may make a suggestion, I would not take a child with you because they are not usually patient and you would probably want to focus on getting a good deal. 😉 The dealerships usually want to talk trade in and monthly payments first so they can better manipulate the numbers in their favor. I first say I dont have a trade in, even if I do. Then I ask for the out the door price as if I'm paying cash. They WILL try to trick you. What happened to me was I was in a car accident and totalled my car, so I had a rental. I DIDN'T TELL THEM THAT THOUGH because they would think I was desperate to get a car. I went to the dealership in my rental care and made up a story of how I already gave my car to my cousin because she needed a car to go to college, her car died on her. I then borrowed my Aunts car because she was in Europe for a month. Lol 😆 I know sounds weird but he seemed to buy the story or just didn't care. Lol Anyways, good luck! 👍; )

Where is that??

Did u show them.the paperwork for this when you told them this about the better interest rate? I talked to my bank they also quoted better but didn't get a print out of that quote it was an over the phone check.

Having a financial calculator and knowing how to use it to calculate loan payments is your best weapon.

@@machintelligence yup and that’s what I had. Thank you HP calculator. This was 1985. I wish I could have video taped the entire event. It was surreal and funny. I’m 27 and he is around 55-60. I could see it in his eye, this young punk is telling me I’m wrong. Lol. Or maybe I was catching them trying to scam me. I always assumed it was an error, but after all these great videos I gotta wonder.

If the finance dealer ever screamed at me I would walk

My bank officer was like YAA. He walk me through how to deal with the salesperson to get an out of door price and all the other fees. The loan officer also laid out what my monthly would be if I used the max loan. When he gave me the loan check, he specifically told me not to show salesperson the check until after all said and done. The reason was the blank check had a “max” amount. Ie “not valid over $50,000”. This way the salesperson or manager doesn’t now the max loan amount and play hard ball on the out the door price. In the end I felt bad for my loan officer because I used the dealer financing (2.9% vs 1.9%). He help me understand the car buying process but did make any commission because I didn’t use the bank loan.

@@CeasarBergonia another day of getting screwed by the buyer Pontchartrain you help them out lol. Let's be real, both buyers and dealers are looking for the best deals... one's trying to steal the car and the other trying to make the maximum profit allowable by the customer. Sales-o-war

Car dealer F&I managers often can beat your bank and often your credit union. F&I managers offer many auto loan opportunities to banks and captive financing. As a result they can often use the clout which comes from that to work with their bank or captive finance company (e.g.; Honda Financial) to offer a lower rate. Moral of the story is to not believe what you read on the internet. Always verify. A true story. A few years ago I helped my daughter buy a new Honda. She went to her bank which offered 2.5 percent. After negotiating a price, the dealer F&I manager offered a rate of over 4 percent. I then demanded the buy rate and informed her of the 2.5 percent rate from the local bank. The F&I manager immediately came back with a rate of 2.4 percent. The kicker was the 2.4 percent rate was from my daughter's bank. It is never a bad thing to allow the F&I manager a chance to arrange financing, provided you already have financing from your bank or credit union. There is nothing to lose. Just use the financing which works best for you.

@@robertwhite9898 I didn’t see any hidden fees. Can you elaborate on the hidden fees?

@@CeasarBergonia I just googled it yes dealers do charge hidden fees . It’s where they add to the sale of a vehicle. Such as extended warranties ect . That why I say it’s best to get pre approved at local credit union .

@@robertwhite9898 can you list some of those hidden fees?

@@robertwhite9898 Firstly, dealers (other than a BHPH used car dealer) do not finance vehicles. Dealers arrange financing with banks. Secondly, there are no financing fees for car buyers with good or better credit. Just as there are no fees with a credit union. The one thing with dealer arranged financing is when the dealer bumps the interest rate, the buy rate. Astute customers know to always demand the dealer use the buy rate (rate actually offered by the bank). Thirdly, it is always wise to let the dealer F&I manager try to arrange financing. As long as the car buyer knows the financing they can get from their bank/credit union there is nothing to lose. Just use the financing which works best.

Not just the financing but all the Bull crap paperwork fees. Umm that's why you have a finance Manager, that's why they pay him 80k a year to do that. Prep fees, Horse feed fees, Handling fees, Little league fees.

Truth. The look on their face when they say "let's get you over to financing" and you say "don't need it" after getting an OTD written offer.

Agree. Dealers still have limited models on certain new cars.

I gladly walked and found something better. It takes time to shop and find what you want, but sometimes you just have to deal that way.

@Sir Ploppy that's against the law. It's called the robinson-patman Act. Ftc reg 463.4(a). Print that out next time you go to the dealer and slap them with it when they try to pull that shit on you

I sell cars for a living. The manager will show you payments with a slightly pumped up rate so that they can build in back end (warranties) that way when you go into the finance office they will say oh you can stay at the same payment and get this warranty and also gap insurance. Having warranty and staying at the same payment sounds nice huh? That is because you saw payments with a slightly higher rate.

Sales weasels.

this is incredible, can you please walk me through how to do it? i dont understand how you could “sign” at dealership and then take that paperwork to your credit union? was it considered a “refinance?” or a new loan?

and was there a financing charge for it at the credit union?

@@PeterPyo Your credit union will take over the loan at new car rates typically for 4 months. Just make 100% sure there is no pre-pay penalty. And talk to the credit union before you get the car.

@@bindingcurve that is great to know! so what i am tracking: get an incentive like a lower price on the vehicle by using their financing. ensure no pre-payment penalty. then, take the loan paperwork to the credit union where they will take on the new car loan and pay off the remaining balance on the car from original loan. win win. correct?

@@PeterPyo yes. First talk to your credit union. They are all slightly different and you should make sure that it will work the way you expect. But when I was shopping about a year ago, that was how it was working at Navy Federal.

You got cash back from manufacturer? How's it that! I resently bought a 2023 Highlander

Thank you so much. All the best, Ray

Excellent advice Trevor 👍👍👍

Nik, we praise the good dealers and we prepare the customers for the bad dealers, which I am afraid are the majority of the dealers. I wish we didn't have to but we do. As far as people who are nicer to salespeople (at least in the salesperson's opinion) getting treated better and getting a better deal, well what if everybody paid the same, nice person, friendly person, miserable person it shouldn't matter, everybody gets treated the same and pays the same amount. What if you and a customer just don't mesh, should they not get as good of a deal as someone you hit it off with? I applaud you if as you say, you treat people fairly, openly and honestly and I would encourage you to encourage other salespeople to do the same, it is what retail automotive needs but until that happens, we'll just have to keep preparing consumers for the worst while we hope for the best. All the best, Ray

Thanks for the response; I like what you are doing. Keep it up!

I am a customer who does his research, researches what he would pay and what his trade is worth and knows his credit profile. As you note, my experience is car sales people (who are ethical) really do enjoy me as a customer. There is little banter, a deal is usually reached within a hour or less and the sale is made. As you note, buying a car is indeed not rocket science. It is, in the end, essentially math. Anyone with a reasonable amount of researched knowledge and math ability should have no problem getting a good deal. Of course a good deal differs at any given time and for any given vehicle. Today's good deal would likely have been a not so good deal two years ago. Simple math: $38,000 divided by 60 months is $633, not $300.