The 5 ways dealers make money in a car deal
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3 жыл бұрын@Ed Bolian's Top 10 Car Stories
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@Ed Bolian explains the 5 ways that car dealers make a profit during a car deal.
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#CarBusiness #CarDealers #Negotiation
@deadmansfire 3 жыл бұрын
Ed enters the dealership. The salesman: Why am I hearing boss music?
@omega1575 3 жыл бұрын
This applies to rabbit too
@djsonicc 3 жыл бұрын
* VinWiki intro plays *
@steve5926 3 жыл бұрын
meh hes easy. At least he know what hes talking about. Most dont and just look like a jackass.
@Sopherion 3 жыл бұрын
@@djsonicc "And that's how you confuse a dealership so much they just sell the car at a loss." *WINwiki intro plays*
@EdBolian 3 жыл бұрын
Have a great weekend everyone. Thank you so much for watching.
@ojoface208 3 жыл бұрын
hey ed, absolutly love your storys! c:
@411Adidas 3 жыл бұрын
@@ojoface208 👃🏾lol
@agn728 3 жыл бұрын
We appreciate your help and information Ed!
@rubenrosales725 3 жыл бұрын
Yo no problem as long as you keep making free t.v shows I'll be here to click play. And occasionally hit like
@caractacuspott4581 3 жыл бұрын
Thanks Ed!
@codyallensiebert 3 жыл бұрын
Ed’s sales skills are out of this world. He just told a story taught something and in the end sold me an extended warranty without me even realizing it
@VINwiki 3 жыл бұрын
#4 will shock you! Just kidding, hopefully this is useful.
@miyaaaaw 3 жыл бұрын
LoL
@craigpests_channel 3 жыл бұрын
I was viewer number 504
@Sekib_Nave 3 жыл бұрын
craigpests channel I was viewer 666
@randerson4124 3 жыл бұрын
DEALERS HATE HIM!
@dollarzUS 3 жыл бұрын
It's useful
@PostalTwinkie 3 жыл бұрын
The sponsors needs to pay double. Ed is out here slipping sponsors and we don't even know it, that was borderline subliminal messaging! David Copperfield of cars.
@TheJustin574 3 жыл бұрын
It was quite blatant, we knew it.
@btvbrndn 3 жыл бұрын
He literally made a whole video to plug them. PAY THE MAN!! Lol
@TheJustin574 3 жыл бұрын
@@btvbrndn They already have..
@bravobrk 3 жыл бұрын
Back in my day that used to be called neurolinguistic programming, or NLP. But if a guy is willing to shell out some secrets for me to get a deal while subvetrly shilling a product, i guess why not.
@PostalTwinkie 3 жыл бұрын
@@bravobrk It's that smooth sexy voice, gets ya every time!
@TheInja 3 жыл бұрын
Oooooooooor you can ask for 50% off and threaten you'll take your "hard earned money" somewhere else, then storm out when they refuse. My mom tried that once and I was mentally scarred ever since
@DragonOfTheSkies 3 жыл бұрын
Ah yes, the “Karen” technique...
@METT-TC 3 жыл бұрын
You know sir, these cars are made by people with families who need to be paid, not elves. I can't give it to you.
@seeratech6339 3 жыл бұрын
That’s actually a nice tactic
@seeratech6339 3 жыл бұрын
Tyler Smith i need to eat too
@atlascormac6273 3 жыл бұрын
I've had people offer $15,000 for a new Chevy Cruze that stickers for $23,000 because a Silverado had $10,000 is rebates. "Uhh, I'll have to pass on your offer my customer." Customer: "I know your still making $4,000!" If you paid sticker I'd gross $905....
@DirtDude117 3 жыл бұрын
I'm a used car dealer and it's wild how some people will watch this and bring in a 320k mile Crown Victoria without a battery and 4 dry-rotted spare tires wanting $5k for it.
@insanetaco98 3 жыл бұрын
4 spares? Suuuuure lol
@DirtDude117 3 жыл бұрын
@@insanetaco98 I swear it had space saving spare tires on each corner.
@corbingreiner9879 3 жыл бұрын
That was what they were asking it for on Craigslist. Or I saw a perfect one with twelve hundred miles go for 10k at Barrett Jackson. lol
@arkautosales6111 3 жыл бұрын
I would just kick the trade immediately. There just isn't going to be any spread, and its always going to be worth more to them than it is to you. Good luck!
@DirtDude117 3 жыл бұрын
@@arkautosales6111 Oh absolutely. Couldn't get the guy off the property fast enough.
@aquaticasmr184 3 жыл бұрын
car dealerships hate this guy!!
@jabber8217 3 жыл бұрын
Actually, I love Ed. I've been in the business for over 26 years. He is telling you 100% truth. And I am not afraid of someone being very informed. It actually makes my job much easier and the buyer has a quicker experience.
@aquaticasmr184 3 жыл бұрын
@@jabber8217 im in sales too i gotta grab the next up
@retiredtidepodeater3339 3 жыл бұрын
This is definitely much needed... I'll be damned if I get finessed in a car deal again 😂
@brettbilger1390 3 жыл бұрын
I love that idea about offering to pay whatever interest they want. Great tactic.
@JayJayFromAZ 3 жыл бұрын
Me too...I never even thought about. Great advice.
@Vitaferox 3 жыл бұрын
That's not a tactic. A tactic implies that you are misleading or trying to get one over on the other party. If you do this and immediately pay off the loan so the dealership can't make money, this is a scummy tactic. This is a fair bargain if you execute the deal like Ed explains, not a "tactic"
@mattd2026 3 жыл бұрын
@@Vitaferox its a great tactic because you get what you want in the end. Don't get it twisted, we're all saying the same thing
@mmavcanuck 3 жыл бұрын
Alex P I’m not sure you know what tactic means
@davidgarman1 3 жыл бұрын
Alex P 🤦♂️🤦♂️ tactic- an action or strategy carefully planned to achieve a specific end. Read a fucking dictionary bro....
@talhasikandar7449 3 жыл бұрын
This is why ed's the boss here. Taught me more than all the school I've ever had in one video.
@frankovercrest2317 3 жыл бұрын
Lol you're school sucks.
@james-oj3bm 3 жыл бұрын
@@frankovercrest2317 so does yours mate. Its "your" not "you're"
@karlnul 3 жыл бұрын
@@james-oj3bm And it's 'it's', not 'its'
@james-oj3bm 3 жыл бұрын
@@karlnul very true.
@bravobrk 3 жыл бұрын
What kind of f@#$ school teaches dealership financing because the industry is so messed up?
@nathang4570 3 жыл бұрын
I just say "I'm still not sure" untill they come back with the price I want lol
@fatcamp907 3 жыл бұрын
As a former car salesman, these videos are great. When I explained to my friends that car dealerships operate at the second lowest profit margin of any market in the US, they couldn't believe me.
@josephdemarchi2128 Жыл бұрын
Because they are a pointless middleman that doesn’t add any value.
@lostalone9320 9 ай бұрын
People never understand that percent and dollars aren't the same thing. They just see "lots of dollars" and think that it must be a big margin.
@Sizukun1 3 жыл бұрын
I have this sneaking suspicion it takes longer for youtube to upload and process the video than it does for Ed to film himself in 1 take.
@LukeHeironimus 3 жыл бұрын
That was the smoothest intro to an ad I’ve ever seen. Bravo Ed
@kriss4200 3 жыл бұрын
I sold cars for 21 years and this is a great explanation.
@Very_Angry_Citizen 3 жыл бұрын
When do we get a part 2 where you discuss the 916 'dirty' ways dealers make money.
@jzb8380 3 жыл бұрын
No wait needed - see Kevin Hunter’s channel
@Very_Angry_Citizen 3 жыл бұрын
Just to be clear, I'm not throwing shade at Ed or any car dealers in specific. I'm speaking in general terms and your average used car sleeze bag. You know, the one guy who couldn't become a politician.
@ericfan1223 3 жыл бұрын
Lol as a 21 year old car salesmen, GM Mark of Excellence 2019, THIS IS COMPLETELY CORRECT. I would show my customers our invoices. Wed “lose our ass” on new cars but dang, finance makes it up.
@OneManOnFire 2 жыл бұрын
As a GM car salesman myself we lost our ass on many cars. Chevy bolt selling at $12,000 off in total with the $4,000 dealer discount in it. Made zero money
@ericfan1223 2 жыл бұрын
@@OneManOnFire I remember that. But during Covid I was averaging 12k a copy in gross over 25 cars a month the whole summer.. the days of selling the shit on the lot for a loss are over. Gm sent us 150 SLT1 FWD Acadias in 2019 that we sold 2k under invoice
@OneManOnFire 2 жыл бұрын
@@ericfan1223 150 Acadia! We barely stocked 150 Chevys and only 100 GMC mostly fully loaded. I could only imagine selling a car at sticker. It only happened a few times.
@ericfan1223 2 жыл бұрын
@@OneManOnFire yeah man! The big stores are fun to work at, but I wish I was at a small one. We get flats
@LaramyGregory 3 жыл бұрын
That is the beat and smoothest ad placement I’ve ever seen.
@guskipper1194 3 жыл бұрын
I am going to send this to every friend that asks me for advice about what to do when they go look at a car. Good stuff.
@FishFind3000 3 жыл бұрын
The biggest this is just use your eyes look at everything and push all the buttons.
@kimosabbe50 3 жыл бұрын
Ed enunciates his words so well, you can listen to his videos on 1.25 or even 1.5 speed ... quite entertaining actually.
@adrftgvvbh 2 жыл бұрын
Good thing I watched your video. Got pre-approved for 1.9apr. Went to the dealer, we negotiated on the price, after I explained I had a bank approval, they said they worked with that bank, that they could do the paperwork there and it would be faster. Well we'll, they came back with a 3.4apr. Which I refused and told them they told us 1.9. We went back and forth for a long time and they kept refusing. Well long behold I called the bank and the dealer actually submitted an application canceling our original so the bank explained the sneakyness on what they did, the bank manager assured me they would honor the 1.9.... she called them and told them to change it to 1.9. Let's just say signing paperwork was so awkward and quiet 😆 🤣
@OKCStinger 3 жыл бұрын
Ed, I really appreciate your insights. As someone who knows nothing about car buying or how the process works, it's nice to have you break it down in a very easy to understand way. Love your channel keep up the good work!
@jamesbarrick3403 3 жыл бұрын
I have worked in auto sales for Toyota and Ford. This is a good video as it covers many things that are not well known. All that said - the best way to make sure you are getting a competitive price for a new car is to fax or email a request for pricing OUT THE DOOR on a particular vehicle on their website. Let it be known you are a price shopper and you are bidding their competition (do not name other dealers - just let me know you are doing a competitive price shopping analysis for this vehicle). Generally speaking you will get them to cut a VAST AMOUNT of the fat from the price on the FIRST QUOTE... something that might take you hours at the dealership in person, if they do at all. So now you have 3-4 competitive quotes... but you really don't want travel a long way to buy. It's okay to go back to your preferred dealer and let them know that you like their car but you will only buy if they match the price of another quote. In the end they usually will. EASY!!! No need to keep up with the rebates and holdback and incentives and all that. Just let the market do it's thing. Also I might add I do not think it pays to feel ultra-competitive as some buyers get a bit anal. What you want is a price that is competitive - its okay if they make some money too.
@santiagourbisaglia2915 3 жыл бұрын
thanks for the info, I greatly appreciate it when you do these and financing videos. It's gonna help me get my dream cars!!
@thugnasty8400 3 жыл бұрын
When I buy my next car I'm going to compile all these videos about dealerships and shrewd negotiation into a playlist. Thanks Ed!
@jackoats4911 3 жыл бұрын
The way he added in Avalon King was smooth as silk. Ed is an absolute beast
@michaellong2661 3 жыл бұрын
I've worked in sales at dealerships. There's so much of this I didn't know, and it all makes so much sense now. Thanks Ed.
@pwrightisright8611 3 жыл бұрын
Seriously though, when is the TED Talk?
@joshuad1716 3 жыл бұрын
You mean, Ed talk?
@yethmindissanayake7228 3 жыл бұрын
@@joshuad1716 dammm
@cesarramos6825 3 жыл бұрын
Love the channel keep doing what your doing ed!!!
@B5s4 3 жыл бұрын
Mr. Bolian!!!!! Finally!! Thank you for this Information, I take it all as great advice on the matters .... Again, Thanks man. I always enjoy the semi-off topic type stories and all informative content as such!!! Always a home run and a pleasure when you're "the guy in the chair" (-Ray Lafleur. TPB!). A++ production as well... Best always, Joe
@widdly-scuds 3 жыл бұрын
Being Ed, I expected it to be cleanly worded and educational, but this was extremely well done and I learned way more about how dealers operate than I thought I would. Thank you again VINwiki
@PizzaBoyRacing 3 жыл бұрын
super insightful, great video Ed!
@Lucho-2310 3 жыл бұрын
Real MASTER dude I appreciate your time and knowledge!!!
@lml6.653 3 жыл бұрын
My family owns a Chevy dealership in glen Burnie MD... This video is spot on!! Ed always makes great video's!
@casteine 3 жыл бұрын
Wow! Thanks for all of the great info!!
@Dukevares1 3 жыл бұрын
Always Be Closing! Haha love the seamless transition into selling a product
@colehetzel3093 3 жыл бұрын
Another great video Ed!
@DepreciationNation 3 жыл бұрын
Thank you... great video! Forwarded to a friend who’s currently in the buying process.
@cerealkilla8930 3 жыл бұрын
Always great information, Ed. 👍🙂
@z50king29 3 жыл бұрын
This is real information. Amazing that someone is saying these things on KZfaq.
@charlieryan1736 3 жыл бұрын
Thanks for making this informative and helpful video
@timothycoyne5874 3 жыл бұрын
This is a timely video, since I’m sure some viewers will be out there scouting the Labor Day weekend car sales!!
@scyclone1138 3 жыл бұрын
I have had the intro song stuck in my head for about a week 😂
@CanadiansInCarsGettingCocky 3 жыл бұрын
Sounds like the chorus of Gangnam Style!🤔
@machetekid07 3 жыл бұрын
I remember when I bought my last car I’d already been approved a loan from my bank and when I went in I was curious what apr the dealer could offer and they came back to me with a loan from the same bank id gotten an approval from, but the apr was 3% higher. I showed them and they magically lowered it to match the apr my bank was offering me directly lol.
@robertasmedu 3 жыл бұрын
They matched it because they can get money from the bank for referring you as a customer to the bank ;)
@fideledon4462 3 жыл бұрын
Thank You very much, it is so informative.
@rancidink7069 3 жыл бұрын
If enough people have bad enough experiences that people in general distrust your profession, the profession as a whole is doing something wrong. That doesn’t mean all dealers are bad, but the fact we have to discuss this means that dealers probably shouldn’t exist.
@linnillwinston1077 3 жыл бұрын
Ed dropping knowledge in this video.
@peasantstimekeeper 3 жыл бұрын
Outstanding information!
@michaeldoran8157 3 жыл бұрын
Jerry: Yeah, but I'm sayin', that TruCoat, you don't get it and you get oxidization problems. It'll cost you a heck of lot more'n five hundred--
@METT-TC 3 жыл бұрын
"how much are you paying for your car, 30 grand? And you love how it looks... Right?..."
@slickshift6 3 жыл бұрын
I worked for a new car dealership for 10 years. In all 3 departments; parts, service and sales. What Ed has explained here is 100% absolute facts. This is information that can be incredibly helpful to a buyer. Thank you for this Ed. When people ask me for advice from now on I'm just going to link this video!
@opieg7333 3 жыл бұрын
The chargeback game... nice tip... and complex enough that most wont use it and spoil that opportunity. One thing not mentioned directly is time of the year - if you are willing to wait until later in a model year, the push to stock the next model year generates a lot of that "trunk cash". I typically hit a dealer up in the summer and state the price I want and leave my contact information for them to call me when they can figure it out... usually one will .. might be the sales person on a bonus bubble, so cast a net and you probably get what you want is reasonable.
@gtrzero2157 3 жыл бұрын
Triple net is also a commercial real estate term. Great video thanks for the info!!
@clintgliford9941 3 жыл бұрын
Last time I was this early, I had no idea I would be devoting 10% of my waking hours yesterday to watching a Rabbit video. Well worth it.
@grug_son_of_thog 3 жыл бұрын
These videos keep reminding me that I've got a Glassparency kit in my garage that I keep forgetting to actually install.
@ICKY427 3 жыл бұрын
Mark S. lol same here 😂
@MegaTexan2010 3 жыл бұрын
I love the fact that Ed explained everything but I still distrust dealership and want to buy directly from the manufacturer even more.
@DirtDude117 3 жыл бұрын
I use to be a BMW Service Manager and other than our finance manager our advisors made the most money for the dealership. I did act as an Advisor as well for certain customers, usually the "premium" or difficult customers.
@BigBundy82 3 жыл бұрын
Awesome/ Very Informative
@DctorSkillz1 3 жыл бұрын
I'm a scumbag dealer and I charge people for nitrogen in tires.
@opieg7333 3 жыл бұрын
I laughed in a sales person's face viciously when they first tried that on me... I mean full ha, ha ,ha... He was not happy with me... tried to go into the pitch and I stopped him with a warning it would get embarrassing...
@grants169 3 жыл бұрын
When it comes to options, my first option is to not make any f'n payments!
@carlosalejandro7315 3 жыл бұрын
Great information 👍🏻
@Blakerzzzz4 3 жыл бұрын
Been doing this since 16. Always great seeing the salesman/ finance people’s eyes get all huge when I pull this shit out on them.
@shamrockbaby 3 жыл бұрын
Thanks for this Ed. You probably don''t know remember my question but we did lease the 2019 Urus. Been very happy. I don't know what law of physics my wife would have to violate to flip it. Very, very confident in the safety. Con: my wife has a lesd foot but the mileage isn't close to what's advertised.
@bartronZ 3 жыл бұрын
I love your videos and your car stories Ed Bolian( Doug T & Rabbit). Thanks to your influence I recently bought an Audi S5 from Brisbane and due to Australian COVID restrictions I was forced to take a 5050km drive home to Adelaide instead of the normal 2200km, it was a blessing in disguise. I did the trip on my own in 4 days, that isn't setting any Ed Bolian style records but I didn't crash or get any speeding tickets and easily had the time of my life . I'm very thankful to you Ed for giving me the confidence to buy an Audi in the first place & the extra urge for a cross country trip.
@dollarzUS 3 жыл бұрын
This is very useful
@gabrielhowardMKE 3 жыл бұрын
I swear Ed is one of the most intelligent person on KZfaq
@trololo4217 3 жыл бұрын
My dad did that after 6 months he paid off whole balance.
@jessebergunder 3 жыл бұрын
Ed owning my dream house with some dream cars living the life man.
@bubba99009 3 жыл бұрын
Ripping you on your trade-in is another pretty common way to make some quick money. They'll enter the wrong information on your trade (to their advantage) and show you a printout from KBB dealer trade-in book and hope you don't notice. Sometimes they could turn around and just take it to CarMax and make 20% on your trade with the kind of lowball offers a lot of dealers make.
@METT-TC 3 жыл бұрын
A lot of time they are just sent to the auction to turn a tidy profit. If you're offered $1000-1500 on a car with less than 100k miles (barring extreme cases) they're trying to steal your trade to make money that way
@nickwinn 3 жыл бұрын
Best advice ever, figure out what you want, email every dealership in the country with a flat offer, one of them will accept it. I bought a brand new Jeep Wrangler Rubicon back in 2013 for 10k cheaper than you could configure it on Jeeps website. The dealership that responded was just over 1000 miles away, they shipped me the Jeep for $500 after the paperwork was completed. Don't get emotional with dealerships, its a waste of time. However feel free to leave them a bad review on google, yelp, trustpilot, etc.
@sirfixalot 3 жыл бұрын
Thanks, my two most hated peoples were car salesmen and Human Resources. Now it’s Human Resources and car salesmen.
@brandonmckibben1164 3 жыл бұрын
As someone who works in the car business, he is completely correct. What a lot of people don't account for is each dealership (hell, each employee at a dealership) providing a different level of customer service and convenience at each of these levels. They have to make money to keep the doors open, and not every place is trying to screw you at every corner. Some are, granted, but some aren't. If you treat a sales or finance or service person without being hostile, you'll likely have a better experience and pay less - just a personal note.
@stangkiller1789 3 жыл бұрын
Today Ed tells it how it is
@hunter9mm 3 жыл бұрын
I just started working at a nice dealership, it’s been amazing.
@mcmagiccracker 3 жыл бұрын
Excellent job integrating your sponsor content into the story
@The_Moderates_Apprentice 3 жыл бұрын
Number 6, TIMING! Due to the pandemic I knew the dealers were hard up for sales. I got exactly what I wanted for my trade with almost no haggling. I got them to go down another $2k on the truck I was buying plus the extended warranty for half price from a supplier discount as my company supplies factory equipment to the mfg. I walked out with a minimal loan after my down payment. I bought the truck back in May. It's now September, the cheapest I have seen now is $8k more then I paid, all the way up to $11k more then I paid!
@rustbucketbeauties2767 3 жыл бұрын
Great tips, it’s crazy how low the margins actually are sometimes. I see why dealers usually try and screw people on trade ins, that’s where big money can be made.
@ImAHelicopterItIsSir 3 жыл бұрын
In Ed’s realm I’m sure the margins are wider, I’m selling Hondas with 5 others in a half hour drive, most new car deals we are giving away invoice less all incentives, often minus some hold back
@edwardmolloy7548 3 жыл бұрын
Dent & ding plus windshield & the other things you mentioned are all covered by insurance in New Zealand. For Glass we have the full glass buy out option meaning all glass in the car is covered.
@jacobpoucher 3 жыл бұрын
Were talking about USA here buddy obviously, take a walk
@True98Gaming 3 жыл бұрын
Very true, recently seen some super high trade in offers for near junk cars just cause the dealership NEEDED MORE INVENTORY. Seen one guy walk in with a 2002 Ford Ranger Edge in SUPER poor condition and somehow got $2500 trade in eval
@atlascormac6273 3 жыл бұрын
Worked at a GM Chrysler store for 10 years. A 2018 Equinox LT MSRP $30,000 had $1,100 in markup if we charged full sticker, but there was no one who could do that. We were fortunate to have GM Employees who saved thousands more than the public and we would make more and they saved more. We never marked up the rate because it was too easy for people to fact check us on and once you erode that trust chances of selling the vehicle we slim. Some banks and credit unions would pay us a flat 2% of the amount financed and it didn't cost the customer anything. I never really sold a lot of warranties because we were leasing 75% of our new vehicles. A factory extended service contract msrp might be $1,500 which means the cost was $750, but we always marked it up 50% to $1,125. Paint seal cost was $275 by the time we applied it and we charged $499 but I know of other dealers who charged $899 for the same thing and sold twice as much because reasons.
@CarswithNash 3 жыл бұрын
Good video Ed!👍
@lashawnwilliams5664 2 жыл бұрын
I am a Finance Manager at a Car Dealership. This guy gets it. Many customers want the dealer to make NO MONEY. It can be a partnership if you work with us we will work with you. I would sell this guy a car anytime.
@nurburgrinding 3 жыл бұрын
Bolian is back!
@nathanzbrazil 3 жыл бұрын
Awesome awesome video.
@ChevySpeedAddict 3 жыл бұрын
Working at a large DMS in the F&I form programming department has enabled me to gain a ton of knowledge on how dealers operate when a deal happens. The markups on back adds and service/warranty contracts is insane at some of these dealers.
@FXIIBeaver 3 жыл бұрын
Oh?
@ChevySpeedAddict 3 жыл бұрын
@@FXIIBeaver oh what? Also, digging the Extremist profile pic 🤟
@FXIIBeaver 3 жыл бұрын
@@ChevySpeedAddict just curious about the insane markups. Thanks.
@ChevySpeedAddict 3 жыл бұрын
@@FXIIBeaver oh yeah. The worst I've seen so far is a service contract on a brand new Jeep that cost the dealer $900 and they were retailing it for $5k. I about lost it when I saw that. Idk how often they sell it (probably almost never) but still.
@bambammartin1556 3 жыл бұрын
As a closer, utilizing #4 has been invaluable as a last-ditch effort to hold some gross without losing the deal
@bumoftheday31 3 жыл бұрын
I've used #4 before. Manufacturer finance arm had a $500 rebate + huge kickback. Ended up getting roughly $2000 off total, paid all but payments to 6 months and paid it off at 6 months and a day. That car was bought new almost 2 years ago and the trade value is $1500 less than I paid.
@EdBolian 3 жыл бұрын
Great job
@poovaneswaransupramaniam19 3 жыл бұрын
Cool video ed
@stuffandjunkandthings364 3 жыл бұрын
I will generally go in with questions I already have the answers to, and base my "allowed" profit on the deal on the answers I receive. Sounds petty, but I look at it like tipping the salesman for knowing his or her product. I recently bought a work truck and the salesman's first question was "are you sure a 3/4 ton is going to be necessary?" Followed by "let's go weigh your trailer so we have the exact numbers" I had already done that, but did it again. I was impressed by the fact that the salesman was willing to make sure I had the right tool for the job, and not just the most expensive truck they could finance me on. Product knowledge seems to be a secondary concern at some dealerships, so I will gladly reward it when I find it. Car sales is like anything else- if you don't like slimy salesman, don't buy from them. The only reason that the dealers employ that type is that the tactics work.
@AJGreen-cn8kk 3 жыл бұрын
To me, the only good thing about buying from a dealer is inventory. It's tough to buy only private party, as i do, will really keep you looking for the right car when the stealership has several on the lot.
@siphosethuximba 3 жыл бұрын
I can listen to this guy for the whole day.
@R0KL0bStEr 3 жыл бұрын
I recently walked away from a used Tacoma I was really interested in. I knew it was a one owner trade in and I figured they were trying to double their money on the asking price. When I asked for the best price (after my family buying 2 cars from them in the past) he came back with a discount off asking of only $300 lol . I got up to leave and then the sales manager stepped in and asked what it'd take for me to take it home and I said way better than what they just offered. So he came back this time after running my credit which should be very good enough to be around 3-4% at most. Yeah he knocked off $2000 from asking price BUT my interest was 7.25%. So he was trying to make it up on the back end. I walked. Still looking for a Tacoma
@ezacher4634 3 жыл бұрын
They probably sold it at asking cause people are dumb.
@chromaventure 3 жыл бұрын
Negotiate price first and on it's own. Then how you'll pay.
@BigTweez9 3 жыл бұрын
Good info
@pgr0104 3 жыл бұрын
Ed sounds like Happy Gilmore’s old boss
@briandavis55 3 жыл бұрын
Living in an urban area I can say my $1,000 wheel and tire package saved me about $2500. 5 tires and 2 wheels later well worth it.
@ImAHelicopterItIsSir 3 жыл бұрын
“The sales department is usually the biggest client of the service department”... trust, the service department is the bane of my used car managers existence
@ericgibson4629 3 жыл бұрын
Spot on.
@VinegarPotato 3 жыл бұрын
8:40 dang that really gets the banks on those loans
@markoklancar7391 3 жыл бұрын
Hi, I love this channel. The only problem I have is that every time Ed talks in a video I get lost becouse he talks so fast. Keep in mind English is not my first language.
@wpjohn91 3 жыл бұрын
In the uk we have VAT which is a tax. So when you buy it ans take it away it does drop 20% as soon as it is registered in your name and sold
@UncleDonDon 3 жыл бұрын
Ed shared most without going into great details. Don't forget about how they can use profit spread money from the vehicle you're buying to show you more money for your trade-in. Negotiate the deal on the new one first, THEN drop your trade on them. They are almost forced to show you ACV, or actual cost value. I've seen ACV on a trade be $5. YES, $5 dollars. It was MAYBE a thousand dollar car, but they were ripping into the sales profit by showing the buyer $1500 (taking $1495 from the profit of the new car), and the buyer thinking he's getting a sweet deal. In reality, he left close to $1000 on the table.
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