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Credit union = The deal is done before you get to the dealership. You are there to sign papers, and get the car. Should take 2 hours MAX!!! Say NO to the finance manager, and enjoy your ride! (This is based on knowing the car you want and test driving it prior, add 30 min if you decide to drive it again that day lol)

Dealers don’t like it when you use a credit union. My interest was 2.5% less than their best offer and my regular bank. The dealer said they didn’t accept credit union checks. I told them I would not buy the car. They ended up accepting but made it difficult.

The finance manager wants to beat you down for scam add on!! Last car I bought was a toyota tacoma. As soon as I walked into the finance office I told the finance lady I did not want ANY extras other than the standard fees. I spent the next two hours telling her no, no , no, and finally "I'm about to walk out of here if you don't stop trying to sell me scam add ons. " That finally got her attention

:15 - 11 Fake Car Fees you should not pay at a Car Dealership 0:51 - Car Dealers dislike informed Customers 1:24 - Two Rules to know about Dealer Finance 1:53 - The only legitimate fees you must pay at a car dealership 2:37 - The Finance Office is the Number 1 Profit Producer in the dealer. 3:25 - Don't Pay Dealer Prep Fees 4:26 - Don't Pay Dealer Advertising Fees 5:06 - Don't Pay Additional Dealer Mark-up 5:37 - Don't Pay Delivery or Destination Fees 6:12 - Don't Pay for Nitrogen Filled Tires at a Car Dealership 6:51 - Don't Buy Credit Life Insurance from a Car Dealership 7:12 - Don't Pay for a Vehicle Enhancement Fee in Dealer Finance 7:37 - The most commonly abused charges in Dealer Finance 7:49 - Don't pay for Window Etch Theft Protection at a Car Dealer 8:46 - Don't pay for Dealer Document Fees 10:10 - Don't pay for E-Filing Fees, Electronic Filing Fee, or Processing Fee 11:16 - Don't buy overpriced GAP insurance from a Car Dealer

Another thing to keep in mind when using outside financing: some dealerships will hold the vehicle until the check clears. I've had that happen - I'm guessing it was a last push to have me use dealer-arranged financing. I told them I'd be happy to wait the additional days.

The entire YAA crew is awesome. Appreciate your videos. Thank You!

Another Car Edge success story. I watched your videos for months and followed you advice. I went to your credit tab and received offers from a couple of companies. I chose Wings Credit Union who gave me an instant approval, and my rate was 4.50%. The dealer did not even try to match it, said I was getting a good deal. Bought the car and the check arrived the next day. Thank you Car Edge!

Most dealers in Oregon along with credit unions use CUDL (pronounced "cuddle") - Credit Union Direct Lending. With CUDL, the dealer can verify loan approval and electronically submits the paperwork to your credit union in seconds.

Very good info from this channel! With regard to pre-approved bank/CU financing, the buyer still has to do their part on negotiating with the dealer over the prices on the purchase order before sending off to the buyers lender!

The real challenge in financing is to get it on a purchase from a private party. The last few cars I bought (for the kids) I ended up paying cash, and then the kids took it to their credit union for financing. Our deal was they returned what the CU would finance to me and I in essence made the down payment. I did buy a nice used truck, but the dealer financing was way high. The banks I deal with did not work with this small car lot and would not lend. I ended up just wiring the money to their account. Getting financed on individual or small car lots at a competitive rate is challenging. Most of my new car purchases have been finance through Ford Motor Credit (or the Lincoln finance associate). In most cases the Ford/Lincoln dealership said I did not need to put anything down.

Yes, I need help buying a car will be my Christmas gift to myself

I gotta say much thank you for your channel and all the advise. I'm going to be 1st time car buyer and I've been hesitant bc I know how sneaky those dealers can be, so I was alwasy afraid they will screw me! But after watching your videos I feel like I know how the game is played and I feel armed in all this knowledge, thus no longer afraid to purchase my 1st car! Thank you guys, you doing Gods work!

I found this very helpful. I have my approval from my local FCU and can now shop with some confidence.🥳

Fantastic Video!! I missed out on a car I really wanted because I didn't know how to play ball once I had the approval from my credit union. The credit union was no help to me either, gave me no clear guidance on how to get the deal done, and the dealer just wanted me to finance with them at a higher rate. Buying and financing a car at the dealer is the pits, and I've only bought paying cash with private parties as a result.

I just bought my Nissan NV200 and financed through my credit union. Love your guys channel. You and your dad are fun to listen to and informative.

Great video, very helpful! Love this channel, it's taught me a great deal of information I wish I had known when I purchased my first vehicle!

I made a mistake. I took the numbers from the sales order to the credit union and got a check. That left the finance manager with no room to discuss any of the menu items. Suffice it to say he was not a happy camper. The look on his face when I handed him the check made out for the perfect amount for just the car was priceless.

Thanks so much for asking about the Credit Union question regarding the blank check scenario.

I never even knew you could get your own financing for a car loan until I worked for a dealership. I had always been told you had to go through them, unless it was something like a personal loan under $5,000.

4:40 thank you! This is my exact question and why I looked for this video! ❤

Omg i needed this thanks for this video! Only video that goes into exact detail

The dealership I visited in Brooklyn N.Y. try very hard to convince me not to use my pre approved credit union loan by telling me that they can’t offer me any of the rebate advertised + an additional $1,000 rebate sent to me by the manufacturer totaling $4,500. I walked away but will be revisiting after I payoff my first car which they refused to give me a fair market value. They were low balling the value by $5,000 which I would used as a down payment. Thank you so much for your videos 👍🏼👍🏼

Great video ❤ getting bank statements and paystub for my car was not easy until I ended up getting it from a vendor online

Navy Federal will give you a pre-approved loan so when you go to the dealership you have the check on hand. It has a cap on it and it is good for 90 days.

Navy federal gives you 90 days I just bought a vehicle 2 weeks from Honda and I love this channel using the tips from this channel i got the car for MSRP when it was marked up 5K over MSRP. Honda CR-V Hybrid Touring 2021. I’m going to get a Hyundai Santa Fe in about 2-3 weeks.

Thanks so much! Really appreciate you!

exactly what I was looking for thanks!

Important note. Navy and pen fed could preapprove for 50k but there must be fair value no spending 50k on a 36k bronco.

I just bought a 2023 Nissan Pathfinder SL 4X2. MSRP was 55,000 because it had a 8,000 markup. Long story short I got it for 46,900 out the door… yes after tax and Fees, including finance charges. I was able to get a 2.69% APR. Buying a car is easy but you must have good or great credit.

Just brilliant... Thank You!

Sooooo needed this video! Omg... Thank you thank you thank you!!!! ❤️❤️❤️❤️❤️👍🏽

Last car I bought the banker hand delivered the check while I was in the finance office. Easy peasy.

I just got a BUYERS ORDER which will allow your Credit Union to cut a check for the amount on the buyers order. Find out from the credit union the specific doc's needed for your area. Ask the dealership for those specific doc's so you don't spend alot of time sitting in finance office listening to BS you don't want anyway.

Thanks for the advice. I will talk to my credit union when I need to get financing.

As long as you have the signed purchase agreement I don't agree that you need to go to the finance person. That is only so they can upsell you add-on items.

I've used outside financing as you guys call it with every car I've bought except for 2, ! of those I paid cash and the other was a brand new car financed through VW Credit. In CA at least they have this thing called C.U.D. L. (Credit Union Dealer Lending) where you can get pre-approved through your credit union or a credit union before going into the dealer. But not all dealers participate in this CarMax, Shift, Etc.. Mostly Brand/Franchise dealers do.

Navy Federal Is Awesome. I Personally Had Several Cheques & Said I'm Paying This Amount I Fill Out The Check Now. Great.

Thank you for telling step by step

I always keep a car loan open, and I keep them open before they expire. I never know when a good deal will present themselves. A loan from the bank is equivalent to paying cash from the receiving end.

These guys help me a lot even though I've purchased cars for years.. so I ran into a rough patch with my credit,it wasn't bad,but I didn't have a 800 score either. So the dealer got me a approval though a sub-prime bank with high crazy interest rates way over the teens, I guess they thought since I was trying to buy a sports car and was approved through their lender I would just bite..no no I didn't like the the interest. So I went through my local credit union and was approved for with a low interest rate. It's sad all the stuff dealer do to rape people. Please do your research, I was blessed to find these guys, and learn how to better negotiate, and not go for the dealer bull lol. FYI, the dealer even tried not to sale me the car because I got outside financing! (No kick backs for the dealers) I called the better business Bureau, they called me back the next day to sell..lol. I should have brought along a lawyer too. Just be careful folks

Yeah I did whole transaction online, when I got OTD number from dealer... called Navy or Pen Fed, either go in and p/u check or mailed next day.....not to exceed number.....cpl times I called dealer and sent them picture of check to lock the vehicle up as sold It is tricky though bcuz they can certainly sell it during 1 or 2 day waiting period....I would just leave deposit in that case and then subtract from check.... Overall it's very painless, and takes 10 minutes ....plus I only spent 30 min in dealership..... Imo it's alot easier than dealing with financing at dealership

Here is a service member who is a customer with Navy Federal. Needed to buy few cars last week. Applied auto loans through online with my bank. Takes less than 3 minutes. Got approved. Next morning went to the closest branch to pick up a check. I was also offered an option to receive direct deposit; what a convenience. After I picked the check, headed to the dealer. I was asked my options. Told them that I am with Navy FCU. Dealer (TOYOTA) offered if they run my credit and I qualify, I might get way better APR than my bank. Gave a shot and here the magic happened. I was offered an APR rate almost have what Bank offered. Accepted the deal to finance with them as long as they remove all the unnecessary list of fees that comes with the purchase. Went home with my new vehicle and a big check from my Bank that I still need to use for another purchase.

This video popped up before I could search it. Crazy times we’re living in. It was like the algorithm knows my next moves. That’s spooky 👻

I have worked to keep excellent credit and get a check from my lender. It's the only way I'l buy from now on. Takes the stress out.

Great Advice

great video! ive done this before but the dealership has always matched. like an idiot, i shouldve told them to beat the offer, not match it.

Stupid question. If you’re leasing and applying for an outside loan do you need to get it for the full amount of the car or the amount you are leasing?

My dealership screwed me on the rate. So I went to my credit union within the first month and refinanced my loan at half their rate. Only cost me an hour or two to sign the papers.

This was great. I usually finance from dealer but got pre approved from my bank this time and was curious what the process was

I've gone through NFCU three times now and it couldn't be easier. They give you a time frame and an up to amount. When I find a car, I go in with the envelope containing the check and negotiate. They will ask how much it's for, but I tell them they'll find out when we have a deal. In order to cash the check the finance office has to have the correct amount listed with the other required information signed by me and the finance person and talk to a rep from NFCU.

Credit Unions are usually your best bet for car loans rate wise because they are member owned. Banks have shareholders for whom they must generate dividends. I've twice financed through NFCU and both times the process was quick and relatively painless.

Very helpful

Hi Ray, here is what I did to avoid the ‘Cap’. I needed to buy a vehicle in $30k but applied $60k. From what I’ve used of that check, the rest will go back to the bank.

You Notice How The Question "What Banks Did You Like/Did Not Like" Never Really Was Answered🤣🤣😂😂 I Didn't Hear Them Say Not 1 Specific Bank....Just Heard "Some Banks This and Some Banks That"😏😏😏😏

When do you show the Finance person the preapproval letter from your bank, or do you even have to show it. Certainly not before getting a finance quote from dealership.

I love you guys

FIRE 🔥

Off topic, but how did you guys make it through last night? I see that some parts of Jersey got absolutely hammered with yesterday’s remnants from Ida! I hope al is well. Long time subscriber and big fan! Take care guys! ✊🏿

Why is it harder to buy a $30k car then a $400k house.

I offer to accept dealer financing but the Dealer finance office can NEVER match the rate I get from a credit union. I never get extended warranty crap. The last thing finance office tries is to get me to sign a “backup” finance contract “in case” the credit union financing “doesn’t go through. No. The finance office person is always pissed when we are done. I’m always pleasant but firm. Problem? Just stand up and say, “Okay, thanks!”

Best way to buy hands down! You don’t have to negotiate the Interest rate you already know up front! So you don’t have to go though that Ordeal that they ask you , so what kinda payment your looking for ! I Guarantee you there going to make it 5 to 6 year loans to make your payment low ! Down fall of this is you get a higher interest loan . 3 years max you are going to get the best interest loan .

Every car I've purchased, was through a credit union. Way easier.

Let’s just stop talking about this stuff because none of it matters. Car manufacturers have screwed over everyone and now good luck buying one even if you have plenty of money. I had planned on buying and now am just going to wait. Not even sure what company I want to patronize at this point considering how awful they are treating customers and their own salesmen. Just in time for the holidays too. Stellar job, auto execs!

I've been watching your videos. Seems a lot of your vids are for new car purchase. I'm getting closer to the info I need as being in a lease. What if you have possession of the vehicle because you are within 2 months of lease end? I want to purchase and keep my car and basically get away from the leasing thing altogether. Do I start with trying to get through to someone at GM financial first, then maybe go to my personal bank to start the process of the best deal? Seems the price is already set (residual). Just need to finance for the best price. Seems many people say don't necessarily go to the dealer and pay the fees for them to do that transition from lease to purchase and ownership? Then others say, it's a lot of footwork to just go through your bank. But is that footwork the same for a lease buyout with a vehicle you already have in your possession with registration and plates already on the vehicle? Hope I hear back sooner than later:)

My concern with the stated approach is the banks already work with the dealers and the dealers get 'incentives' for bringing the banks customers. My suggestion is to negotiate with the dealership and have a purchase order written-up. There is no need to tell the dealership where you will be getting financing at this time or the terms you are being offered by the bank you select as negotiations have not concluded. If your credit is sound and there are no surprises, I have had the dealership state 'we normally get a certain percentage rate discount as we bring so much business to the banks and if you work though us, we can get you that better rate and throw in some merchandise (floor mats, services, etc.)'. The dealership makes money on the sale and the financing (processing) of auto loans and both are negotiable.

Get pre-approved through your own bank or preferably credit union before you go shopping and know what the interest rate they give you. Salesman love to tell you Oh we already work with that bank or credit union. What they're not telling you is that they're going to give you a higher interest rate. My credit union approved me at 2.79%. The dealer offered 5.79%. That ends up being an extra $3,887.24 on a $41,377 loan. So $3,887.24 is pure profit to the dealer.

Since the dealership makes money off of financing, am I right by saying that they disapprove of outside financing? It would be equivalent to paying cash right? And if this hypothesis is true then they are more unlikely to be negotiable on the price? Therefore when initially looking for a car if this is something I plan to do, go through the bank or credit union, I probably will not disclose that information until the deal is close to being done. I want to get the offer that is based on if I was financing through the dealership.

I had this happen to me at BILL KIDD'S TOYOTA TIMONIUM in 2008 on a PRIUS. I had negotiated such a good deal on the car, they refused to make my preapproved BLANK LOAN CHECK I had with me which I brought up late. I had not mentioned financing or filled out a credit application. They make front end and back end monies by buying a loan at one rate and finishing it with customer at a higher rate. For instance, buying loan at 3.75%APR and giving it to customer at 5.00% pocketing 1.25% up front.

You must become a member at the credit union, and some of the CU require you to have some sort of affiliation.

We got approved for loan at 2.9 % at credit union but several dealers here in West Texas don’t accept outside financing. Talk about greed !!

Will I be able to negotiate a price with a new car with own financing

Does this apply to Motorcycle Dealerships as well??? Cuz I'm looking to buy a bike soon.

My lease ends September 2023. My vehicle is worth more than the residual value. I want to buy it out. Is it better to buy it directly from the leasing company or the dealership? What's the process in doing so?

Meaning great content

I had a pre-approved quote from my TN Credit Union for 3%... told my Ford sale rep & sales mgr I wanted it with my credit union. The finance manger REFUSED MY CREDIT UNION. I took their bank... next week I filed complaint with Tennessee's State Regulating Dept. and filed complaint of being " FORCED ". I got my financing changed to my credit union. Told my friends avoid that dealer. I never went back for service. I will only go for a Ford recall issue.

Hope you all are safe and didn't get flooded out!! Be safe!!

So i did get pre approved with a credit union right. All i need is that purchase order from the dealer correct? They do not need to run my ssn or etc None of that right? I need clarification please.

So if you have a navy fed check, do you treat the interaction like cash with the salesman and don’t tell him about the check?

Ok so I'm going through my credit union for credit cards and auto loan sense it's all one hard Inquiry. Let's say I got approved for a car loan how long is that good for?

do you recommend this approach?…i walk on to the lot and tell them im looking for a car with standard options no add ons, so i tell them to take the factory options off the msrp before i decide to step foot in the office. then i get the best term and rate they have before telling them im already pre approved for a better rate elsewhere. then get to the finance office and have them remove all addons and crap fees. bulletproof plan?

How do you even find a credit union to work with? Is anyone eligible to work with any credit union? California based. Thx

Kim we need more information on which u recommend

So can i apply for the loan Online or does it have to be in Person ??

I have a car to trade, owe on the loan but i have positive equity, i will have have about 4grand left over, what should i do with the 4grand...keep it...use as down payment?

I needed to bring in paystubs and bank statements last week for my car loan and that got my stressed out asf till I came across some great comment on deelscafe💯💯

can you get a preapproval rate for a car lease to use to get the finance manager to beat the rate?

Is it possible to finance with an out of state dealer and if so how without using an outside bank

Will the car dealership want to run another credit check after you got approved at Credit Union Bank? How do you get to the finance department at dealership without the credit check again?

Does it have to be a credit union? Can you just go to a regular bank?

So my question is let’s say you go to your credit union and you get that blank check for x amount next you go to the dealership you see the vehicle you want so you tell them I want that vehicle and they ask how are you paying you say check I guess my question is thats consider cash and will you get a cash discount because your not financing anything with them right basically your paying them upfront and dealing with your union

Need help on this vehicle I'm financing right now need to trade it in at my local credit union but don't know how please help

Can I do credit unions for leasing?

Nice clip insert with Russian rubles at 1:26 :)

Do you have more leverage when you have a pre approved check? Let's say your walk out price (w fees taxes etc) is $20k and you have the blank check. Are dealerships more likely to meet you at that price?

Do u still gotta give a bank/ credit union a down payment

Great info,. I'm curious how outside financing might affect negotiation with the sales manager or finance manager?

My State NH will investigate any fraud committed by car dealers, such as changing paper agreements without the buyers knowledge to give them a more profitable bank rate.

Do i need to put money down to go through and use a credit union?

Hey guys. Love your content. Thanks for everything you do. Ive never heard this talked about before, so pardon me if it has but. I haggled with a dealership for my out the door price. I got it to where i wanted, then we went to financing. They gave me an apr that was 2% higher than I wanted so i told them i would just go to my credit union. They said they dont accept outside financing. So now what.