Don't Get TRICKED by Car Dealers | Do THIS to Scare the @$!? Out of Them Pt. 2

[@michaelsenko3177]

All of this feels so stressful. Makes me want to never buy another car again. We work too hard for our money to worry about being tricked while buying the second most expensive purchase in our lives feels overwhelming. It sounds so unethical to me.

[@jorgetech2985]

And tricky shit they do. When I purchased my maverick, there was a $750 discrepancy that I saw on the contract and I said what is this. He looked confused and said oh I'm sorry sometimes our system glitches and adds this twice. I was in a good mood and didn't want to start crap otherwise I would have.

[@karmendimas5274]

NO such thing as so called 'glitches' glitches = FRAUD @@jorgetech2985

[@RH-cv1rg]

Don't get stressed. Determine the total amount you are willing to pay. If the amount is higher, walk. Remember, YOU are in control. YOU have the money that they want. Without YOU and YOUR money they have nothing.

[@superman4ever101]

Which is why u should buy from a private seller , do your due diligence, and ask the private seller for a ppe inspections or buy a car at a auction is risky but hey. Drive with what u can afford until u can get a decent job

[@stevejones9044]

@@jorgetech2985 I can relate. The Toyota dealer had a similar glitch when they attempted to overcharge me with taxes by 2%. I walked in to the dealer with my clip board (2006) and pre-calculated everything right down to the monthly payment. I shopped out the door price of course. The extra 2% was easy to catch.

[@stevenebesni2432]

Never eeeeeeeeever purchase anything in the finance office. The guy at my Subaru dealer hates me. Mission accomplished!

[@user-vk2cd9qw7i]

Good person to be hated by 😂

[@edboy880]

Before stepping foot in the dealer, I setup a spreadsheet calculating what the payments will be with all of the different variables and I update it as the negotiation progresses. That way I have a good understanding of what my payments will be and can catch any funny business. It’s crazy how often times I’ve found that the payments the dealer calculates is much higher than what I get after entering the agreed upon figures. They always find a way to add junk fees and products that I never asked for. They added GAP insurance, even though my down payment was about 40%. After declining every since coverage the finance manager reviewed with me, he finally said that he can give me one of the items for “free”-which was the GAP insurance. I still declined and he said it would really help him out. I still declined. After he removed, the payment went down. Never let your guard down at any point.

[@JR-90]

How much was the car worth? and how much you were able to knock off?

[@edboy880]

@@JR-90 2022 BMW M340i xDrive factory ordered with an MSRP of $65,615. They wanted $2,000 market adjustment, but they took it off; they wanted $775.10 in ‘Private Tag Agency Fee,’ ‘Dealer Handling Fee,’ and ‘Electric Registration Fee,” but they gave them to me as a credit on my trade-in. I think the GAP that they were trying to sneak in was about $600 or so. There were other stuff that they were slyly trying to sneak in that were about an additional $2,000 or so. So all in, I think $5,375 in overcharges. I went in after work and got there at 5:30 pm, but didn’t get done until 5 hours later! I was tired, but my spreadsheet saved me from the shenanigans.

[@bblakebrown]

So you basically just declined everything they offered. I tried that a few years back when the dealer was pitching an extended warranty. When I declined they got really upset and then tried to lessen the value of my trade-in.

[@888ascension4]

Wish me luck! As a woman sales people are more ass holes .

[@mitchellferre1652]

@@bblakebrown when you buy extended service packages the dealer is off the hook. You are on your own and are forced to try and get the company you purchased the plan through to cover repairs. Only to find out its not fully covered, itemized, pro rated. Not fully covered, not covered, not warrantees. No hanging parts covered, no electronics or sensors covered. Only hard parts or internal engine parts covered. Disappointing and misleading.

[@salimahhossain8161]

Hi guys, my family has always leased Honda cars from one location here in Long Island. My husband and I go in before the lease expires sit there for hours in front of the salesman and he comes back from the finance office in the back with this paper puts it in front of us like we’ve just won the lottto! Not once did my husband over the last 12 years asked a single question on what additional things we have been duped into purchasing! My lease is coming to an end in august and since my husband and I are no longer together, I decided to do a deep dive into car purchase. We have been made fools of for far too long and I am watching your videos and taking notes. Saddest part is , I recently had to replace two tires and paid full price even though I had that covered in my lease. Sorry for making this so long, but I just had to thank you all for the loads of advise. I especially learnt so much watching the videos where the buyer had her notebook and questioned everything

[@hardfought1842]

Don’t beat yourself up about it. Prepare for next time but don’t let this car shopping experience it eat you alive with anxiety.

[@michaelhaynes1505]

Spent better than 25yrs in the car business from sales,f&i and general sales manager. And I can proudly say that I have never lied or misled any customer and would not tolerate it from my staff. The customer always knew what they were getting and profit is NOT a dirty word. Now that been out of the business for maybe 12 or so yrs we made a trip to some dealerships and drove my old car and couldn't get waited on. Finally found a car we liked and wanted and damn how things have changed. Most of the stuff you talked about started to happen,tire and wheel packages ding and dent coverage. Swear if the wife didn't like the car so much would a left. We paid cash for it and I still feel we got taken somehow. Least I know none of my old customers felt that way. I hope.thanks for the info.

[@Jackdman25]

I’m sure you were able to get a much better deal than if she went alone

[@jorgetech2985]

Why does everyone wait to get home to look at their paperwork? I understand you've been at the dealership for 6 hours but your contract is the most important. Ugh people.

[@briancarlisi2224]

Who is so stupid to waste 6 hrs with a dealer? Past hour 2 I’m walking.

[@jorgetech2985]

@@briancarlisi2224 I do 2 to 3 hours but I've known people to do 6 to 8 which is insane.

[@sonja4164]

@@briancarlisi2224 that's true, but Jorge has a great point. Why does it seem like many wait to get home & read the paperwork?

I read every single paper. Have had dealerships print out at least 2-4 copies of the paper because the have to remove and alter price. There's no rush. They want to make the deal....they can wait.

[@judybritt6288]

I read everything on a contract before I sign it. Last time I bought a car, I told the finance person that. He was trying to give me several pages and hurry me up to sign them all. Saying something like, "Don't worry, it's all in order." When I informed him that unless I read every word on the contracts and understood what I was reading, I wouldn't sign it; he got impatient. He kept asking me questions as I was reading the paperwork, but I ignored his questions, which I assumed were to distract me. He made some snide remark about my taking so much time to go through the paperwork after I signed. I looked him in the eye and said, "I have spent hours of my time here to get a final price and deal, so you can wait for as long as it takes for me to read & sign the contracts." If I hadn't already spent so much time to get a car I wanted at a price that I thought was the best I could get, I would have walked out then. I'm sure he didn't get as much money as he wanted to get out of the sale. Still, I always leave car dealerships feeling like I've been taken advantage of after every car purchase I've made, but am not sure where or how. Thanks Ray & Zak for all the info and advice you give us. I will be waiting a while before buying a new car. Meanwhile, I hope to feel better prepared when I buy my next car. If looks could kill, I'd be dead. If I was the type of person who enjoys the time consuming, ridiculous "making a deal" to buy a car, it wouldn't have bothered me.

[@lindasoucier2084]

We just bought a used Ford Edge Thank goodness we have been watching your videos! We had 5200$ in extra charges taken off ! Husband said ok come on we’re leaving and salesman no no ! Thank you so much for sharing your knowledge.

[@robrocker7544]

Kimberly I love you, had the pleasure to speak to you on the phone recently about GAP and extended warranty, you’re awesome!

[@ctrguy]

I’m a professional salesman & I felt proud when my little sis asked me to help her buy her 1st new car after law school (newly released Nissan Z)!! When it came time to negotiate price I learned that she only brought me along for my mechanical knowledge of cars, NOT to negotiate- she learned that law school!! I was floored at how she worked the dealership!.. she kept a low calm voice, maintained a smile, and was apologetic & polite yet unwavering about her demands… “I believe you’re doing everything you can to help me, but this is what I can do. If that’s not acceptable/possible here I totally understand- I don’t need this car that bad…” She got everything she wanted!😎

[@GlennLaycock]

My brother when I was young told me this - and then I learned it in banking and working at a dealer - I can make any number be exactly what you want as long as I have one variable available for me to adjust. Huge life lesson and when you "are in front of the computer" it is easy to see that as a way to exploit a client who believe they are in control when in fact they have a big label across their forehead saying "sucker" .. no different than a gambler walking in and stating they can beat the house at a casino.

[@BT-s4321]

I Hkm

[@casacarroll]

Numbers lie and liars use numbers

[@2chuck]

The car salesman giveth, and the finance manager taketh away! Beware of those Pickpockets! When I was in my teens back in the 60's I heard that Car Salesman's offices were bugged and when the Salesman went to check with his manager they listened. I set it up with my Dad to discuss our very low-ball offer, and when the Salesman excused himself, we talked about how the price would have to be X to buy, or we would walk. When the Salesman came back Lo and Behold, he gave us X as his final offer! We laughed all the way home in our new Ford.

[@MurderMostFowl]

Agreed! My wife and I were buying a gently used car ( less than 2K miles, less than a year old ) and I had worked quite a deal out ( following the car edge dealer school advice ) and we were waiting in the finance office and for this exact reason, my wife and I purposely worked out ahead of time a scripted discussion where I said “they better beat the bank’s offer by a quarter of a percent or I’m thinking we just stick with the bank” and then She says “I don’t know if you should even do this deal… if they try to pull anything sneaky, we should walk!” I agreed and when they came in, everyone magically met all our needs and didn’t try to upsell us on anything!

[@AdrianPaneto]

This was a lesson I wished I knew before walking into the dealership. I feel I was prepared for the sales tactics parts but not the finance part and now I can see where and how I messed up. I will lick my wounds and do better next time. Thanks for all the info.

[@Jackdman25]

Did they get you to buy into a warranty or other package?

[@AdrianPaneto]

@@Jackdman25 a car maintenance package. Luckily I was able to cancel it but learned my lesson.

[@Jackdman25]

@@AdrianPaneto that’s good to know that they can be canceled. Thanks for sharing

[@angelsuarez17]

You guys are awesome. I'm pretty savvy but still they got one over on me. After denying nitrogen, mud/door guards and extended warranty, I initial and signed the 30 day used car warranty denial form. Thinking of denied the extended warranty he slid the 30 day for me to sign and decline. 10 days later, I attempted to use the warranty for a wheel bearing and jo smo shows me what I declined lol. We learn something new every deal. You guys rock!

[@mattdecker6791]

I had the dealer call and tell me two days after purchase that my 3% financing was declined but 4% was approved and that I needed to come in and sign new paperwork. I offered to bring the car back with a fresh 600 miles on the odometer and drop it off. They called back and said theyd figured it out. No change.

[@amonslow]

I have been watching all your videos to prepare myself for the dealership. I went In to buy my camry hybrid thinking I was going to be haggled. I was shocked that I wasn't haggled for anything and they let me pay in cash. The FI manager did try selling me 6 yr extended warranty which he started at $2k and then got down to $995 of which I still declined. He had no issue with my decline. Now I have a new car that I ended up getting $350 off msrp with my costco card and no haggle whatsoever.

[@scottr2706]

Cash is legal tender in the US of A. The dealer did not "let" you pay in cash. These days, a purchase for $350 under MSRP is a success. Was there a doc fee or any other dealer fee? Did the have any mandatory add-ons? Very sad days indeed.

[@amonslow]

@@scottr2706 I paid by personal check in full. There was a required doc fee of $200 but that was the requirement of my state on Washington. They wanted me to pay for $375 in add ons but waived them because they didn't have them in stock.

[@mikerobbins5049]

I had a dealer try to sell me a vehicle with Their “LIfetime Warranty”. What it basically said was.... let us do all of your scheduled maintenance work..... I know how that turns out..... skip one of those Scheduled Maintenance and you just voided that LTW..... plus the cost of dealer maint. Is a lot more expensive. Esp if I change my own oil, etc....

[@koolkong94]

Pretty sure warranties can't legally require you to have them work on the car if it's not work they're paying for

[@Paul71H]

After watching several videos on this channel, I'm more thankful than ever that I've never bought a new car, or even bought a used car from a new car dealer, in more than 30 years of car ownership. I buy older used Toyotas from small local dealers, I check the Carfax reports, and I get any car inspected by a mechanic before buying. (I usually take 2-3 months to buy a car, because I'm very selective. I probably look at 50-100 cars online, read 10 or more Carfax reports, and have 2-3 cars inspected by a mechanic, for every car that I actually end up buying.) I've had great success with that approach, and the only thing I've ever had to negotiate was the purchase price -- no financing, no extra fees, no add-on packages, no contracts to read.

[@Barbarapape]

I refuse to even talk to the finance manger, if i need to buy with a loan, i arrange it before i go to the dealer. I don't need some con artist playing around with figures to earn the dealer more profit. All i ask for is the on the road price with no added extra's like paint protection. Car dealers make a fortune from guilible buyers.

[@inkedupsaint5051]

This is why I always record the conversation cause if theu openly lie to you then you can call them out and they'll try to work with you cause they know that if you push them with your evidence then they'll be in the wrong

[@Booster6969]

Why do people even consider all those BS add ons, they wouldn’t offer them if they weren’t a benefit for them! A lot easier to just decline everything to know your not getting scammed and just do your research later and I guarantee your get anything you might want a lot cheaper

[@juhdah2146]

Just remember that the dealer is not your friend. Don’t be fooled! Once you drive your car off the lot, they have washed their hands with you.

[@mattsmith4589]

I absolutely love this family it's been a week and the timing of me finding them is amazing

[@kylev.1163]

Funny story about the "included maintenance" thing. I bought a brand new Kia Stinger GT back in 2018, when doing all the paper i was out of the door at $36k. Very happy buyer. More-so when I noticed that they had included a maintance plan pamplet with the sale of my car despite me declining it. It had all sorts of free service coupons in it and it was even coded to me. Fast forward 2 years later (used the booklet for free services several times at this point) my home kia dealer rejected a free oil change because they noticed the maintenance plan wasn't supposed to be included in my final sale and I was going to have to pay for it. I called the Kia Corperate line and they apologized for the miscommunication during the initial sale and gifted with an additional year on the maintenance plan "for the inconvienence" lmao. I still have the maintenance plan pamplet with some free oil change coupons left, the book is technically expired now, but im yet to pay for a single oil change and my car is now payed off. Helps too that im military and travel alot so im usually going to different dealers that don't want to jump through hoops to verify the maintenance plan pamplet. They'd rather just pluck a coupon out of the book. Sometimes dealer actions can lead to your benefit.

[@kamhosein5055]

This day and age avoid car loans. Buy used cheap and cash after you enter finance office and use (credit card) as much has you can then payoff same month for rewards

[@chriss314]

Good episode! I just ran into this last month I buy new cars every 1 to 3 years so I feel I am pretty competent at getting to bottom line and out the door in 90 mins. On this last one I got scammed by Finance\Sales I ended up leasing this one so the payment vs. cost gets fuzzy (22 Niro EV) This was the scam: When I sat down to sign, finance was using a pad to sign vs. yellow forms. Told him I was uncomfortable with this process BUT as long as there are no additions to broiler plate lease paperwork let's proceed. Never once was I offered\given brochures for various warranties. My paperwork was given to me as badly scanned images on a USB stick. Once I got home I knew there was between 1200 and 1500 off in the math. While reviewing the USB stick I found 3 warranties totaling $1300 that were never mentioned or offered. I of course canceled them, funds refunded to Lease Corp and I won't realize the refund til I buyout the lease. BUT THEY DON"T GET IT ! In all fairness; I didn't let them do the 'dealer ads' and I know they need to make something somewhere in the deal and would not have minding a bit of that 'add'. BUT the way they did it makes me happy that they now get NO ADDs and car was at MSRP :) Sales had to know as it was baked into #s before I got to finance. Shady way for SM to get the adds in there.

[@JoshuaHumphreys]

You tell folks not to get an extended warranty but then the old dealer in you rears its head to sell folks your extended warranties and other crap.

[@dwnmddl]

The best thing I’ve learned from Ray, Kimberly, Laura and Zach is not to be afraid to walk away. If the deal isn’t right for you walk. I’ve walked twice in my quest for a low price mid size truck. Toyota wouldn’t budge on their add ons like, tire and wheel, wheel locks, window protection and the summit package. Walk out #2 was a GMC salesman who wouldn’t even acknowledge my request for the OTD. Twice he went to see his manager and came back with monthly payments for 72 months. He was a beginner and I worried that I might buy a Canyon and he’d have a Buick ready for me. I’ll call those two incidents practice..

[@fearnobizarre]

When we bought our 1st car, they talked us into a car "care" package and made it sound like free car washes, waxes, and interior cleanings. When we were handed a bottle of $1000 windex and armor all, we knew we just got had!

[@rickdavid1795]

I sat in a Hyundai dealership for 3 hours negotiating over $10/ month. They agreed to my payment and price. 1 month later I get a payment coupon for the payment of $10/month more than I agreed to. They said they made a mistake on the county tax rate that I resided in. I called an attorney and yep it was my responsibility to make sure they got the local tax rate correct. They screwed me. I’ll never buy another Hyundai

[@doccolorado]

Great advice! During negotiations once I bought a used car and offered to write a check for the amount if they agreed and the salesman INSISTED I provide a credit card to take to his manager, and I kept saying NO. My wife was so pissed at me when the salesman (very young & new), walked away crying, yes seriously. I think he was told do NOT approach the 'management' pen w/o a credit card or your fired! LOL.

[@scottr2706]

That is just a game some car dealers play. They thing getting a check or credit card results in more buy in from the customer as well as making it difficult for the customer to simply get up and walk out. You did the right thing and that sales person knew exactly what was going on. It was just part of the sales tactics of the dealer.

[@sonja4164]

@@scottr2706 oh wow

[@harrymcmackin9280]

If you know the out-the-door price, then when I went to the finance office, he did not offer one extra thing. I did have to sign a paper that I chose not to buy a single thing extra. But I knew the out-the-door price on the telephone, before I entered the showroom.

[@josephkelleher8820]

When you get to the finance office tell them right off the bat that don't want anything extra. If they insist on preassuring you just run for the exits.

[@rifar173]

Exactly thast i do!! they hate me what i usually say look i been leasing cars for over 18 years so les't not waste your time or mine.

[@chuckinhouston9952]

My standard reply is, "okay, we're done here; have a nice day."

[@erikhaw7313]

Wish I had you there telling me this, I am such a push over.

[@ranger178]

my favorite line for the car dealer no not interested. when they ask why i would say you wouldn't be selling it if you were not making money on it.

[@igorkoske8376]

It’s called a loaded payment quote that was quoted and finance manager didn’t “throw” anything in but closed that customer on a loaded monthly payment with product built in the loan without itemizing anything and showing bare payments without the products being added.

[@igorkoske8376]

@@kate60 of course I’m correct. I owned and operated dealerships and dealer franchises for years and I also spent over 15 years as a F&I manager and later as a F&I director in “the box” a term we dealers use for finance office at the dealership

[@Chris-qg2un]

I think your in video ad on this video was pretty effective. I'm watching and eating dinner during this vid. I'm a premium member so I feel exempt from ad's. Spoon in hand the ad starts. The speed and tone of the ad made me feel like it would be short enough that skipping around isn't worth it. Sure enough, it was over as quick as it started. I appreciate that.

[@cpiggy922]

I recently purchased a vehicle from a local dealer. I agreed on a sales price, trade-in value, a down payment and an interest rate. When I met with the finance guy I started reading each document placed in front of me as I always do. He commented that he had never encountered a buyer who meticulously read documents before signing them. This sparked curiosity on my part. I’m a retired homicide detective who analyses speech patterns including context, tone, rhythm and so on. One of the speech issues i pay close attention to is when people comment about something which concerns them. Human beings simply want to tell the truth so their speech will often give them away. In this case it’s a good thing I paid attention because the interest rate had jumped a full point and a half from what we agreed to. Pay attention out there. These things do happen.

[@robtech341]

Where I got ..........the shaft was the FM said this package would literally only raise my payment by $4 per month. We were working on a 60 month loan. Without telling me at all, he made it 72 months and packed all of that crap into the last year. I didn't realize this until I got home and read the loan papers. Crooks, all of them. Cheers!

[@sonja4164]

So for anyone who is looking to avoid this scenario, what could you have done to avoid what happened? Where did you drop the ball (or lack knowledge)?

[@mitchellferre1652]

@@sonja4164 finance through a different lender. A bank, credit union, etc. It will be a straight clean process and you will pay the interest and terms agreed upon. And refuse to talk to their finance department or listen to their pitch. I feel safer arm wrestling a pit of rattlesnakes than financing through a dealer.

[@robtech341]

Sweet revenge! I paid off this car 6 1/2 years early. Therefore I'm entitle to a refund, prorated of course, for all three items that were tacked on, Extended warranty, $2400, Gap, $995, Tire warranty $495. My math puts this around $3400 in refunds. That's not even the best part. I called the Stealership to ask who I needed to bring this paperwork, car payoff etc.., to. She told me to take it to the very same crooked piece of sugar honey iced tea finance manager that stole the $4k out of my pocket in the first place. This is going to be so tasty. I'll update how this went. Cheers!

[@husseinkassem4664]

@@robtech341 what's the update, hope it worked out good 👍

[@batsonelectronics]

@@sonja4164 read the damn papers in the office, not at home. Problem fixed.

[@batsonelectronics]

I just bought a used car.( big dealer ) I went in with all the numbers and calculated payment on a paper.( to compare ) Of course you look over both the "sales" contract and the actual "finance" contract to make sure it all adds up to what you expected. People not doing these basic things is the problem. I even got a lower interest rate because I dropped it to a shorter payoff period. If you are intimidated by numbers or haggling, bring a friend or family to help you. I got more for my trade and got a better sales price by asking and walking away when they said NO. I knew the value of their car and of mine. I accepted no less. I am sure they still made money and I saved around $4000 between trade in and sales price. Everyone is happy. I also don't pay Doc fees. They lowered the sales price extra to cover the doc fee. ( made sales tax lower as well )

[@SunnyWu]

Never ever sign a contract without reading it. I've heard of stories of old people getting tricked out of their real estate, property, and vehicles. They get promised a loan or a high profit investment opportunity and when they go sign the contracts, the shady party usually find excuses, or hussle them along to sign.

[@JTKels]

Tire & wheel coverage is the same as dent & ding…

[@Sashazur]

Only if the fine print says it is!

[@karenfloriano]

This happened to me there is a total of 6000 added to my car loan when he said and I quote it’s included your payment stays the same,and he said I got your a better rate smh

[@rotart12arx3]

I can't believe that in days people can't use a loan calculator on line and know exactly what their payment is. Simple price of vehicle and the tax, doc fee, and registration and figure your payment. Never do a spot delivery, which they will push and always know what you can get for rate from a credit union or your bank. Take your purchase order home and look at it to make sure nothing is added in.

[@scottr2706]

Car dealers love your willingness to accept the fake doc fee.

[@rotart12arx3]

@@scottr2706 I pay only $100 doc fee.

[@user-EdKnowsIt1]

I never buy maintenance contract. What if car is wrecked or stolen? Do you get that $$ back? I doubt it.

[@stevielease7952]

Bingo. I've told dealers this more than once. They just stared at me glassy-eyed.

[@paulkaplowitz3945]

It seems sad to me the it is a normal business practice in the car dealership world to lie and cheat your customers. In order to succeeded in your business it is necessary to lack all principles and a moral compass. Paul M. Kaplowitz

[@garyaasden2583]

Just bought a new Toyota and denied all the extraneous add ons Finance dept wanted me to buy. He also had an electronic desk top computer screen built into the top of his desk Wow. Everything was signed electronically. However I asked for hard paper copies and his response was we make it simple. At the end I was handed a USB drive while being denied a paper trail.

[@dinaquinteros3578]

How would you know if the finance officer is over charging you for particular add ons. And what are some packages that are worth getting n how much should they cost?

[@dlg5485]

None of this add on garbage is worth getting, in my opinion. Cars come with a decent warranty from the factory. Also, you can add the warranty after you leave the dealership, giving you time to read the fine print. You can also negotiate the price of an extended warranty, it isn't set in stone. Most of the other stuff is just padding the profit for the dealership and should be declined.

[@Sashazur]

Only one or two add ons might be useful for some people, but they are all way overpriced because this is where dealers make most of their profit. You can always get any of them later someplace else for less.

[@thorpower1015]

Napleton wanted to charge me 800 for window etching, I just told them no they said they do it to all their vehicles I told them no I won't buy it then they said OK but if your truck is stolen, told them I have insurance. Well they caved and sold me the truck anyway.

[@allenbaylus3378]

one thing that they did "by accident". I had an agreed to intrest rate - when the paper work cam thru the number was different then what we agreed. I always check and double check for error like this. It's funny that they claimed to have made a mistake, but I doubt that this has ever gone the opposite way - where they promised 2.5% and the paperwork comes across at 2.0%. It the same when you are talking prices and they say "well, it only $500 different (price wise)". I counter with then you won't mind parting with only $500. One of my best friends loves to go to the dealership because he is great at negotiating - and he is persistent. Rule Number 1 - never fall in love with a car. I never have and unless you have an urgent need for a new or used vehicle - be prepared to walk away. A dealership is a business, and they are not your friends. They will get every penny from you that they can legally squeeze and sometimes they can get money from you in possibly illegal ways.

[@dyates6380]

I like the way they keep breaking to the father and son nodding every fifteen seconds. It adds SO much to the point she's trying to make.

[@travelingfool9096]

I am an "out the door #" customer. and a ( just like Nancy Reagan). "just say NO" at the F&I office.

[@MEGAONE302]

Salesman hate me; whenever I'm buying anything I always ask how much! 🤑🤑🤑

[@tawnyrosas3212]

I went to a dealership and ask for the otd price and I asked if they could negotiate the numbers but I was told “because of the shortage” there’s no wiggle room for any dealership. Is this true or should I keep looking elsewhere? The only thing that changed the OTD was not adding the warranty (-3,600).

[@weekenderfam7965]

I guess depends on what car you looking for and where you live. I have been shopping for the Toyota Sienna, all the dealers around my area if not the entire state have markups from $3k to $10k. I started looking way out to the surrounding states, but still extremely hard to find one that does not have markups or only sell to local customers, just because the vehicle is super hard to get (limited production/availability) and people are trying to get one no matter what the price is.

[@RobertoHernandez-fl3gv]

I had a finance person get mad because I didn’t let him try to find me a loan with a bank because I had already gotten approval by my credit union with a low interest rate. He got even more mad when I decline on all the extras he try to sell me for like 45 minutes. And he did not wanted to give me copies of all the paper work he said I have them printed and ready for you when you come back for your plates I was no is fine I wait here you can go ahead and give me my copies. I later found out they send other contract to my bank with a higher total

[@helenyolosalon3099]

So all this stems from is when the finance manager gave you a percentage rate you do not ask for a lower finance rate so the finance manager had some room to play with your percentage rate so nip it in the Bud and ask for that lesser finance percentage rate

[@jared236]

Pls bring in Lucky Lopez again. He's very good and informative. He looks out for the middle class people. He got my vote if he does run for office

[@JutifiedGamma]

I'm a little confused by the "Throw Stuff In" trick. Kimberly mentioned that there was a charge to the item, but did it ultimately change the person's payment? Pops had mentioned that some financiers will adjust the interest rate to offset the cost of the added item and keep the monthly payment the same, so how is that a bad thing? Did the number of months change, too?

[@sabarishananthanarayanan2765]

by lowering the interest rate they basically changed the interest that you would have paid over the years into a product to which the car dealers gained.......in selling them.....this is what I understand

[@jsgreatness]

Not quoted up front accurately. I pay over $800 a month for insurance was quotes $455 a month. I agreed to price then told by Nick I needed to download tracking app to actually get the price quoted or down-payment and price would be increased. Business like this its exactly what your website and online forum is fighting against.

[@okhotrodder]

Literally a month after I bought my wife a new vehicle, the dealership was bought out and the name changed. All employees stayed but not the agreements. We knew we were paying for extra things like tires for life, but the extra cost for ea add-in was well under the cost just for the first items. Like the tires cost was half what one set of tires cost, the replacement key fob was a quarter the cost of a new key fob. But when the dealer got bought out, the only thing they'd honor was the oil change part. So I lost all that money. I felt they screwed me not telling me they were going to be changing owners. Of course, unless you knew that you wouldn't ask if the add-ins would transfer in a case like mine. The only thing that made me feel better was instead of paying on it for 6 yrs and them getting the interest, I just paid it off. Now every salesman tries to tell me my trade-in isn't worth much when they know it's paid off. Funny, when you owe money on it, they'll pay off the balance.

[@PRDRprince]

I would consider getting a lawyer. Doesn’t matter if they were bought out, new owner assumes the contracts and its terms.

[@ssl3546]

@@PRDRprince you are giving bad legal advice based on facts you don't know.

[@Sashazur]

I remember getting ready to go car shopping with my boyfriend. He said he’d figured out all the pricing and wouldn’t get screwed. He told me to keep quiet while we were at the dealer so that he wouldn’t get confused. You can tell where this is going… he makes a deal he likes and trades in his truck (for peanuts) and we go home in a new Subaru. He wakes up in the middle of the night yelling “OMG THEY SCREWED ME ON THE TRADE IN! WHY DIDN’T YOU WARN ME?!?” We broke up not long after.

[@hello-sz1jp]

Dealer had a vehicle msrp of $23k Out the door price was 36k with taxes and government fees and dealer fees.

[@WarwallTheFaithful]

I have been trying to get a GR86 at MSRP for a while, some dealerships actually starting to reply to me now, so maybe I am just a few months away from getting one. However one of the last ones that said there was no markup (market adjustment) there is a addon of $1990 for door guards and an alarm. I let them know that the door guards are $89 on the website, so that "alarm" was too expensive for my tastes.

[@georgegarner5331]

Can you get the purchase order with the breakdown of all the costs to take home to look at before making any decisions?

[@RobertLofrano]

Dealerships must love you guys, 😂 I know I do

[@jamestreanor182]

Many years ago I had a finance manager offer me an extended warranty for free, which he did by reducing the interest rate they had quoted me (per her example). He was furious when I went back 2 weeks later and asked for a check for the extended warranty I no longer wanted ;-) In California the cooling off period on the warranty was a windfall for me. You might want to cover another issue I saw recently where a Land Rover dealer who I put $1k deposit on a new RR (one year wait) later told me that the price would no longer be MSRP but would be MSRP + $10k. I work in the legal profession, so this was easy for me to fight off, but I guess this tactic is successful on other buyers...

[@Papolucho702]

Bought a car on the floor instead of the F&I office and forced the sales manager to show every last bit of the contract process. He showed me our buy rate, our LTV and the overall price. I showed my wife and I had him show my wife everything and bought us pizza while he tried to to negotiate the best rate possible too. So far, still owe what the car is worth while the car market tanks, and I’m cool with that.

[@kholmes1089]

this video perfectly illustrates what is wrong with the car dealership model...

[@eldoradocanyonro]

It's a very, very simple concept. Never sign anything you have not read and do not fully understand. They hurry you, they give you loads of papers, they tell you they already explained it..... Because THEY DO NOT WANT you to read and understand it. That extra hour you take to read and understand can and will save your backside. This is another reason they extend the process to 6 hours, so that you're tired and just want to be done. If you need to take the paperwork home to read, take it home. If they tell you the car will be gone, fine....they're making more. If the deal is only good today, there's probably a reason they don't want you to read and understand the paperwork. RUN.

[@wattsdronewilltravel3881]

I’d say 90% of the folks that buy a car never review the paperwork once they leave the dealer. People are really clueless

[@greennbean]

Your best bet is to deny all crap in the finance office. You will never use it anyway. Take the factory warranty and sign the paperwork at the agreed out the door price.

[@mattdecker6791]

When I bought my Subaru Forester, after agreeing to a price, the finance manager gave me my principal, interest, time, and the monthly payment. However, I ran the calculation and the payment shown was about $50/month higher than it should have been. After pointing it out, he appologized, left the room, and returned with a corrected contract. MISTAKE? Sure. It's only what he does all day for a living.

[@mttellez]

I was offered a 7% interest and my payment was $525. When I got in with the finance guy he gave me Lo Jack, extended warranty for the same payment of $525. He did it by lowering my interest rate to 3% and the 4% difference was technically was he charged me for those extra things.

[@corinahernandez6795]

There Bunch of rip offs

[@chefduane3742]

Probably extended the term of the loan. So although your payment remained the same you overall financed amount went up.

[@mttellez]

@@chefduane3742 No. He lowered my interest rate to 3% to make up the difference and keep the same payment.

[@H.pylori]

Problem solved. Do your homework using YAA website. Decide what you are willing to pay. Then with the finance guy say you can add anything you want to the price, including DOC fee, but the bottom line can't be one penny more than we agreed upon. Last purchase was a Jeep Wrangler, my bottom line offer was $36,000 out the door. They removed the extra $1500(Nitrogen tires, clear coat, window etching, etc) that they had added on that piece of paper next to the Monroney sticker, and manipulated their numbers to include the Doc fees. Note that I had included in the price the taxes and fees and a reasonable profit for the dealer. So the only thing that would nix the deal would be their greed. I spent 1.5 hours at the dealership and drove home in my new Jeep Wrangler paid in full for $36,000. Only caveat here is that this was done before this supply mess, when there were plenty of cars on the lot and they were anxious to sell. May not work as well now.

[@bindingcurve]

Last time I got a new car, I lined out everything but they ended up leaving on a bunch of stuff; carpets, roof racks and so forth. Was not giving them back :)

[@H.pylori]

@@bindingcurve Good for you. They know that some of the items are included with the vehicle, but try to charge you anyway.

[@timwatson3879]

...the Ray Shefska 6..sounds like a lounge band...

[@ElonMuskX]

I just had a finance guy try and get us to sign a blank cosigner form

[@scalecraft4663]

'Not going to cost me anything in the payment'... Worst thing to say.. Final Price...... It' always about final agreed price.

[@charmainereid3934]

Pretty soon you may have to pay a Professional to do this Agonizing experience for a fee!!!This is not for the faint of heart!..or any ordinary person to deal with all of this trickery that goes on!!!

[@elizabethYtorres]

I’m about to purchase an suv. Specifically a Ford Explorer. It’s becoming an exhausting thing because the numbers are all over the place online. I’m not even sure what’s the real price I should be paying. Gosh.

[@jaketanner109]

Question: If the price monthly is the same, and the term of the loan remains the same, and they throw in "free" items...how am I getting ripped off? I would typically fall for this, but I am curious now why I should avoid it if everything remains the same? Thank you!!

[@nosaj64]

I don't think there is any difference if you make the payments for the entire term. If you pay the loan off early (right away for example) then you could pay more since you will pay off the higher price of the addons. In the pay off case, the loan rate doesn't matter, just the cost of the addon.

[@batsonelectronics]

they may lower the interest to make the payment stay the same. They make some money on interest above the dealer "buy" rate but they make much more on crap add ons. If you pay the loan off early, you are paying for the adds since you are not spreading it out over the remaining time with the lower interest rate.

[@WalknSuccess]

True Thanks 😊 🎉

[@AdammJarvis]

FYI my credit union charged me $325 for gap insurance. Dealer offered at $900.

[@AdrianPaneto]

which credit union?

[@weekenderfam7965]

I assume this kind of stuffs mainly happens with the finance department (not say you should not read the contract for cash payment), but the latter should be more straightforward and clearer.

[@kurakkurakk4394]

What is going on with internet prices? I see price on the dealer's website, go talk to them and try to negotiate and they just say, oh sticker price is +5k, but I can do internet price for you, that is all, cannot negotiate more as if they already dropped 5k. But that is price I saw initially... lol

[@kvitale7734]

Another awesome vid. Thank you❤

[@RyanGrange]

If the payment and the term remain the same because they lowered the interest rate, what's the downside for the "extra items"?

[@batsonelectronics]

if you decide to pay it off early, or it gets totaled in a crash, you owe more than normal because you are not using that lower interest all the way out to contract term. Insurance will give you what it is worth, not that amount plus contracts.

[@arwood111]

The objective is to wear you down by making the process take hours so you just “sign snd drive”

[@davidfoulk3078]

The finance manager doesn’t just manipulate numbers he manipulates words ie; lies to you!

[@joem4746]

I had a finance manager tell me they can buy down the interest rate, similar to a mortgage and points. Sounds like bs to me, I know they can mark up the interest rate. Am I right or wrong?

[@chefduane3742]

Only way you can buy down the rate is by putting more down.

[@mtnbiker014]

But in the example of the dealer “throwing in” a product by changing the rate in order to check monthly pmt the same…in Ray’s example of a dealer reducing a 4.99% to 3.99% , that in fact can reduce the bottom line cost to the consumer possibly more than enough to fully pay for that product. (Depends on auto price)

[@scottr2706]

Car dealer F&I managers do not finance vehicles. They arrange financing with banks and captive finance companies such as Honda Finance. They shop the customer's credit to those finance sources. Those finance sources offer the rate they will finance the customer, called the buy rate. F&I managers are legally allowed to bump this buy rate, often by up to 2 percent. So, for example, a 2.99 percent buy rate is presented to the customer as 4.99 percent. The F&I manage is not legally required to disclose this bump. Using your numbers, and Ray's example, what would have happened is the F&I manager was provided a buy rate of 2.99 percent. That F&I manager informed the custom the rate would be 4.99 percent, The F&I manager then told the customer if they buy those F&I products the rate will be 3.99 percent. This is a scam. In this scam example, the F&I manager sold a couple of grossly overpriced products at a huge profit plus was able to get the customer to accept a 1 percent interest rate bump over the buy rate which is more profit for the dealer. Even though it may appear the customer did not pay more the reality of the F&I manager's deception was the customer did pay more than they should have. They accepted an inflated interest rate and they bought grossly overpriced products they would not have bought had the F&I manager been honest. The solution is always when using dealer arranged financing is to demand the F&I manager reveal the buy rate. If the F&I manager refuses the customer can be certain the interest rate offered is too high. Do not accept an interest rate over the buy rate unless there are reasons. And never, ever trust a car dealer F&I manager.

[@JuanMartinez-rm4cj]

Can we ask the Finance office to us the final paper work before signing anything?!?

[@sonja4164]

What do you mean?

[@hermesseda4977]

Great info. Thx guys

[@gerardchapman8384]

Hello I was wondering can I use my trade in to cover tax's and doc.fees thank you.

[@timmy4579]

I just hate this part of buying a car. Everything that costs should be gone over the during the negotiation and once the price has been settled on that should be the end.

[@RogueWorks.]

Can you just go with the base payment?

[@mattbk1yn]

It almost makes sense to bring a lawyer with you. Can you bring a lawyer to a house purchase so why not $50,000 car

[@KristoforKrashlock]

Would they ever not show the page where you are able to decline products?

[@christiantrebour1319]

What about signing papers at the end stating you refused all these extra products? I vaguely remember initialing individual papers i was told were statements of refusing products. Is this ligit?

[@WhittyPics]

I wish I could take Kimberly with me next time I buy a car

[@tibivaslo]

How the heck aren't Finance Managers going to prison for deceptive marketing? Straight up lying to and exhibiting clearly premeditated predatory behaviour! If I by mistake put an extra 0 or misplace a comma on a tax return I'm getting audited. And these Fin Managers are doing this for decades and getting away with it?!

[@marzero116]

just dont buy any of their products. i dont get the point of them... most of the ding and dent stuff is BS.

[@krazzyk01]

Couldn't you let them "give" you that second warranty and before signing you see the numbers and then make them pull the one?