5 MASSIVE Car Buying Mistakes That Cost You THOUSANDS

[@thisisme1999]

I have needed to replace my vehicle for the last year, but I dread going through the process. I have had the vehicle for 14 years, the previous one for 20 years and I actually worked in the automotive industry at one point, so I heard some of the horror stories right from the source. All good advice from Shari, but I still can't pull the trigger.

[@islanddon865]

Excellent advice. Walking into a dealersip is like jumping into a small pool dripping with "chum", filled with Barracudas (Floor Salespeople) and a Great White Shark (Closing Agent). You ABSOLUTELY MUST cut you deal on the Internet. And dont let them change ANYTHING when you arrive in person! Or it will be a "bait & switch", guaranteed. I worked in Car Sales Management. Mr. Prymak knows of what he speaks! Good job.

[@carhelpcorner]

Thank you for the support! 👍

[@islanddon865]

@carhelpcorner Well deserved praise for solid recommendations.👍

[@craignovy2090]

Another invaluable rarity...a car enthusiast who really understands financial pitfalls. In a brief well presented and easy to understand format a potential financial disaster can be avoided. I am an old timer and I really learned something new and invaluable which is negotiating online before going to any dealer. Many thanks!

[@billyrock8305]

Oldtimers rock! #1

[@carhelpcorner]

Thanks so much!

[@billyrock8305]

@@carhelpcorner You Rock Shari! #1 Topgun

[@ctclardy]

The trap too many fall into is they do not understand that buying a car is not only a financial transaction but also an emotional one. If you do not research ahead of time, give yourself options of different makes and models of vehicles that will suit your needs, and be flexible enough to change when dealers are not, your emotions will outweigh your ability to make reasonable decisions. This is when the dealer wins and you lose.

[@letsreason9489]

Very well said!

[@codincoman9019]

Good advices - however, professionally prepared buyers can negotiate successfully, especially based on dealers' pressure to get rid of the inventory. But don't buy new! Buy second-hand only from the first owner, thoroughly verified, aggressively maintained (twice often that the dealership/producer indicates), below market price, best Japanese cars in the segment you need (not like for social status or other bs, or for transporting smth big once per year!) your car to be, naturally aspirated (or self-charging Totota hybrid system, present also on Mazda etc.), manual trans (or ECVT), cash only, below 15% of your annual income (10% is tight for the best cars) or below 5% of your current net worth (assets-debts).

[@adityam.5056]

I live in Calgary and pretty much no dealer wants to email me a quote. They are all always insisting on visiting in person.

[@richardsze9079]

same in Vancouver..

[@billyrock8305]

#1 Buying a Jeep 💩 🤮 #2 Not hiring Shari and giving him a couple hundred bucks to save you a couple of thousand bucks.

[@sandeeptanjore1253]

are you serious about # 2?

[@billyrock8305]

@@sandeeptanjore1253 Absolutely 💯 💰

[@carhelpcorner]

Haha thanks 🙏 and it wouldn't even be a couple hundred bucks 😅

[@billyrock8305]

@ A good plug for you! Discounts welcome! 😝

[@marcelm5681]

To your point #2, i would also advise caution when reviewing quotes you receive by email. I received one earlier this year from a Toronto Nissan dealership that was actually titled "BILL OF SALE". I had clearly just asked for a quote. I assume that with one incorrect click, i could have ended up in a situation where i was committed to buying this car i did not want and on the terms they included in the quote. This is what the email cover letter stated: """Please click the following link to open the Vehicle Sales Agreement (Bill of Sale) and digitally sign""" BEWARE!!!!!

[@johnreese3762]

Great advice/video, thanks!

[@Bytesplice]

The hardest step is negotiation by email when looking for a late model used car, as there isn't much in the way of inventory.

[@denysmelnychuk5078]

I am looking for a sedan for me to drive to work. Mostly highway. 100 km per day. Is it worth to buy a hybrid because of high reliability or for highway it is not a good choice. Thanks!

[@niranjang7245]

#2 I have spoken to 6 dealerships over the phone but none gave me a quote over the phone or through an email.asked me to come in person to discuss..so what's up with these people..r they not playing by the rules?

[@0HOON0]

Check the staff section of the dealer's website. Sometimes they have a dude who specializes in internet sales.

[@sandeeptanjore1253]

I encountered the same issue with one of Ford dealer in Calgary. They are not open to furnish details via email and insist on coming in person besides tell us to come and speak to a "manager". This has been my experience too. Once again not sure if this advice of Shari is realistic in today's time and age.

[@como3378]

Question:in Ontario is there a possibility to have the purchase contract in French as well?

[@sandeeptanjore1253]

Shari : Does your organization help people trying to buy a brand new or used car in Quebec? or are you restricted to English-speaking provinces?

[@carhelpcorner]

Some parts of the service are Canada wide, but some are Ontario only. The website should answer more questions 🙂

[@xiondFirst]

I mean you got one life so buy within your means. Cars depreciate so buying 100k truck something you don't need will hurt you.

[@marycarla6245]

Does anyone know if you can negotiate more off the car if you pay all cash?

[@morrownguyen889]

Good thanks

[@jsw2233]

Still waiting for the Prius and Civic comparison test. Is it coming soon?

[@carhelpcorner]

Very soon!

[@StatmanRN]

#1: buying a new car

[@codincoman9019]

True, but most cannot understand.

[@oleglishchenko4922]

That was true a couple of years ago but nowadays some used cars like Toyota are notoriously overpriced. You may be better off buying a new car and maintain it well for good resale value

[@oleglishchenko4922]

With 0% financing I would gladly take the longest term possible and invest my money elsewhere. Unfortunately that's not happening anymore (unless on some crappy well overpriced cars nobody wants).

[@wjm3018]

Yeh sometimes even when it's 0% or 2.99% dealership will jack up the price or msrp is high. It'll make up for the difference in interest cost. I see ford or gm putting out low interest rates but truck is like $80 -$100k+

[@stujonny]

Based on your suggestion of 10%, then most consumers can’t afford! Mine is way over 10% and it is not cheap buying a new car here in California because we are paying higher sale tax, however, I managed to pay off my huge car loan in 11 months. I am just a regular guy with ok pay check , it is tough having a car loan but it is doable, all depends on how you manage and prioritize.

[@Joe-eg7ml]

Is it ok to take a longer loan if the interest rate is the same for a 48month and 72month? But planning to pay off early by paying more each month

[@ani_ds12]

But still the interest amount in total might almost be 50 to 60% higher vs the shorter term loan.

[@oleglishchenko4922]

If you are going to pay it off sooner, yeah it's okay to take a longer time, but it takes a lot of financial discipline to save extra money. Shorter term doesn't give you the choice but to pay.

[@carhelpcorner]

A longer loan will cost more in interest even if the rate is the same. A shorter loan forces you to pay off the vehicle sooner and reduces the interest cost.

[@squareenixffost]

How is 10 percent from 80000 is 800 for payment, sorry can someone explain this? Isn’t it 8000?

[@michaellarock7859]

10% a year is 8000. Take the 8k and do 10% a month = $800

[@all_roads_europe]

@@michaellarock7859 10% a month is not 800 though, there are not 10 months in a year but 12

[@codincoman9019]

The year has 12, not 10 months. ​@@michaellarock7859

[@wjm3018]

​@@michaellarock7859$8000/12 lonth in a year=$666.67/month.(car pmts, insurance gas and maintenance).😂 What can you get nowadays. New small car pr used vehicle.

[@sandeeptanjore1253]

I really wonder who can pay off their loans in 4 years (in today's market) when car prices are inflated, mortgage rates are high, and owning of a home is becoming impossible in Canada. Add to the fact that tax man comes with his bill. While the advice is really good and means good, I am not sure if this is possible in Canada in today's time and age.

[@polarbearpwnage]

I think the clear answer is in Mistake #1 buying over budget. If you can't pay off a car within 4-years at a maximum than the person is well overbudget.

[@sandeeptanjore1253]

@@polarbearpwnage Then in that case either every new car (even used cars lately) is over priced and over budget or one should not buy a car at all until they have 100% or at least 75% cash down. Unfortunately my SUV (Subaru Tribeca is piece of shit) is turning into a white elephant and I need to buy one new hybrid SUV. Not sure if this 4 year loan term is realistic (for me).

[@jeffb.6642]

Yeah I hear similar advice offered by these KZbinrs who simply don't seem to live in reality. The average person absolutely does not earn enough money to make a new car payment that's only 10% of their income. It's true that many do buy more car than they need but if everyone followed the advice of only putting 10% of income towards car payments, automakers would go bankrupt because most people could only afford worn-out beaters.

[@sandeeptanjore1253]

@@jeffb.6642 I agree with you. Most of these KZbinr influencers don't seem to live in reality considering the advice they give is rigid or decades old. It would have worked may be 3 decades ago but today, well it's questionable 🙂

[@oleglishchenko4922]

Actually you can, if you already paid off your mortgage 😁 Or, if You live for free in your parent's basement.

[@richadent968]

$9,600 IS NOT 10% OF $80,000.

[@wjm3018]

$666.67/month

[@wjm3018]

$300/month car pmt lol😂 small car only😂

[@myroslava9511]

I am sorry but your advice make absolutely zero sense in today’s world. According to Stats Canada average pay in my province in 2023 is 54000$ and 10% of which is 5400 in car expenses a year. With car insurance 1500/year and with approx 20k km/year and 1.60 for a gas it is another 2900 for gas which leaves us with 1000/year or 83.3/months for a car payment. With 4 year term good f*ing luck trying to find a car for 4 grand

[@oleglishchenko4922]

I think 10% is possible only if you already paid off your cars 😁.

[@carhelpcorner]

The advice is good financial sense. The fact that many consumers can't afford to follow it is a separate issue.

[@samuelnair6527]

Isn't this topic repetitive??