Homework Guy CAR BUYING UPDATE (2024 Compilation) Car FEES & Prices Going Down

The Homework Guy Kevin Hunter brings you another CAR Buying UPDATE. Learn how to negotiate a good car deal and how to avoid car dealer scams.
For new cars, TOYOTA is finally getting more new cars in stock and more inventory at Toyota. Have you ever wanted to find a Toyota "dealer near me." We can help with that!
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The Homework Guy Team provides car buying consumers with information, automotive news and updates, industry outlook, buying and selling advice, and other help to level the tables. The public face of THG is Kevin Hunter and the master negotiator, Amazing Elizabeth. Tons of time and research goes into every show, with several projects always on the table, all with the goal of getting it exactly right. From Automotive News Updates to vehicle shopping advice and assistance, The Homework Guy Team is the best there is.
By the way, we don’t recommend doing price negotiations at the dealership anymore. Test drive, and then leave. Get the name of the salesperson, and then email them when you get home, using the templates we provide on our BLOG, both for new and used cars. The template asks for price, fees, taxes, and finishes again with that awesome line, “I'll be interested in hearing what your finance office has to offer if I decide to purchase this vehicle from you.” You wait for a response and negotiate a proper OTD before you return to the dealership. Note, do not argue with them about fees via email. Only ask for the price of the CAR itself to be what you’re looking for.
When you hear “How do you plan to pay?” This where YOU say “If we can agree on a price I’m willing to pay, I’ll be interested in hearing what your finance office has to offer me for a car loan.” Sure, you’ll want to have decent credit and you do have to do a credit app, but don’t worry, because the ding on your credit score is very temporary, and you have a SNEAK ATTACK up your sleeve that they are NOT going to see coming.
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When Will New Car Prices Drop?
According to Kelley Blue Book data, the average transaction price (ATP) for new cars was $47,401 in January. Cox Automotive analysts calculate a 3.5% drop year-over-year as downward price pressure favors car shoppers. Cox Automotive is the parent company of Kelley Blue Book.
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Thinking about buying a car? Here’s what auto experts say you need to know. People spend a lot of money on their cars and trucks. In fact, about 16% of the average American’s total budget goes to transportation, including vehicle costs and fuel. That makes it the second-biggest expenditure after housing but before incidentals like food, education, and saving for retirement.
The scale of the expense can make shopping for a vehicle stressful - especially for younger, first-time buyers who tend to have less-established credit histories and lower savings.
And today’s market makes it even worse.
According to Kelley Blue Book, the average cost of a new vehicle (including cars, crossovers, vans, pickup trucks and SUVs) exceeded $47,000 at the end of 2021 - up more than 25% in just two years. Average used vehicle prices saw an even steeper rise, going up 42% from under $20,000 at the end of 2019 to over $28,000 two years later.
Searching for the best car deal? Great, but what happens when the best deal you find isn’t anywhere near you? In fact it’s miles away in another state? We’re here with the top 10 steps You Need to Know When Buying a Car Out of State, and the common hassles you’ll definitely want to avoid!
Get a Vehicle History Report for Used cars
Before anything else, it’s critical to obtain a vehicle history report from services like CarFax or AutoCheck.

[@brianurbanik7587]

Just picked up a car and they actually asked me if I was paying cash! However, they did try to get me to pay for the VIN etch, said nope to that and they took it off without a fight

[@michaelmacchitelli5689]

I just made a deal with Subaru dealer all on email and never was asked how I was going to pay until I signed contract and they were happy I was paying cash and got the crosstrex limited 5000 under MSRP

[@Emma-33]

How you like your cross limited?

[@picklerix6162]

Most car dealers want to know immediately how you’re going to pay. I tell them not to worry about it.

[@janelpoff8250]

Would you mind telling me your process so I could get this same deal?

[@richardcorley364]

You should know that you have taught me a lot ever since I came cross your KZbin channel and thanks for doing this and putting this out there

[@KevinHunter]

You're welcome! And thank you for leaving us a great comment!

[@benjiloFit]

I’m buying a car tommorow. I’m super nervous. Wish me luck guys

[@GetAtThat]

How'd it go?

[@RPSartre01]

Last car I bought I got zero percent interest over 60 months. No need to pay cash - zero down. Dodge caravan 2006. Still driving it!

[@lewchishelltaya5745]

I love you guys. Thanks.

[@mikeh4800]

Loved the car inventory data.

[@KevinHunter]

Thank you. There's more to come soon!

[@truckercowboyed2638]

I learned so much from your advice and used it during my recent car purchase it made everything simple and i saved money

[@KevinHunter]

Great to hear! We love hearing these kinds of stories! Thanks for sharing!

[@lancebriggs1929]

Right on time during my car shopping process Thanks guys

[@KevinHunter]

Our pleasure!

[@ArticulateArena]

do you know which site they recommend for checking car history with vin number? cant remember which video it was in

[@karllued]

I bought a Toyota Venza, I wanted a non-turbocharged hybrid that takes regular gas, you can't get that in a Lexus.

[@dianelehn6178]

I'm on a steep learning curve. Would you tell me why?

[@kingsleyzissou5881]

Kevin I just used called a dealer, immediately got a salesperson, so I asked his email and he quipped "ok..." and provided it. I send him the template you have. You should have HEARD what he said to me when he calls back right after sending his reply "I don't understand why we couldn't talk on the phone like two human beings..." Oh my god you should have heard his tone! You really know how to get at these people haha

[@DIAMONDGIRL57]

I’m not buying anymore cars.I will soon be retiring and don’t need a car to get back and forth to work. I can have anything I want delivered. If I want to go somewhere I can take Uber which will be cheaper.

[@johngalt2069]

So helpful. I was looking to buy in August but unforeseen circumstances makes me need a car fast. I was already looking at a Mazda CX-30 so the section on Mazda was especially helpful.

[@eyeswideopen5228]

Great video! Where on your website can I find the FTC rule document mentioned in this video!

[@KevinHunter]

Here's the FTC document we referred to: thehomeworkguy.com/ftc-c-a-r-s-rule/

[@TheOctopusandTheRattlesn-gd6ph]

I will never have another Nissan. They crumble like paper in an accident. I was lucky to survive my 2 accidents and they were both Nissan. Both were altimas.

[@eyeswideopen5228]

Thanks for directing me to the FTC Rules on your website. I forgot to ask... I am paying cash for my car in Georgia. I will be working with dealerships. I had a dealer tell me they have to send info to the DMV. If I am paying cash, and the dealership owns the car and have the title, why can't they give me the title and I take to the DMV myself and register? I don't feel comfortable turning over cash and hoping the dealership does the right thing concerning the title. I've heard of too many horror stories of people paying cash and getting the run around about the title. Any suggestions on how to handle paying cash and telling dealership I need the title when cash is exchanged? Thanks

[@stryker120ski4]

i had a dealer tell me to do the loan at the low price on their truck, they added a extend warranty on a new 2023 titan, i was like really , the Nissan warranty was better than the extended warranty that he was selling, i was like im not paying for a extended warranty on a new truck when the Nissan titans have one of the best warranties avail, when the extended warranty they were selling was for less miles than the new car warranty , nisssan titan warranty has the best warranty, 5 yr 100k, and the extended they were trying to sell was 5 80

[@gnd111]

extended picks up on top of factory warranty...so its...extended

[@stryker120ski4]

@@gnd111 nissan has the best warranty for the trucks when the extended warranty they were trying to sell me was the exact same miles and months as the new car warranty so its not a extended warranty, it was just a cash grab for the dealer

[@stryker120ski4]

@gnd111 normal truck warranty on domestic are like 3-36 and 5 60 power the nissan titans have the best new truck warranty

[@ArticulateArena]

I went to a local used dealer that sells A LOT of cars. Usually 100k+ miles and older. I heard his process with a nice lady that was buying a car... she told him everything and she got a 20 year old car for 600 a month and $5k warranty for 52 MONTHS!!! I almost walked out but I wanted to see what I could do. He tried to pull the same on me but I made it clear I wasn't a nice old lady and got the car I wanted for 15% cheaper than they wanted and no extra fees with a lower apr than they, and my local bank, wanted and 48 months with a good DP. it should be illegal to be a car dealer. they should be treated as hobbyists trading collectables or something. they shouldn't get any protections. Cars should be like something you buy off a shelf in a store. and then if you want a different kind you can do it yourself or order it from the manufacturer.

[@crob5523]

I have always told the dealer that I plan on financing even if I had the money to pay in cash. I wait till the first payment comes in then pay it off. I have never seen a penalty for paying a 60-month loan off early yet. Also, what wasn't mentioned in the video is that if you can't pay in cash, go with their loan at whatever interest rate they have (let them think that they will make a crap load of money off of you), then when the first payment comes in, take it to your bank or other bank that has a favorable interest rate and re-finance the loan. Some banks will give you $200 to re-finance with them on new car loans (Navy Federal to name one)..... And yes, the loan officers deserve for you to stick it to them. I have seen some take fees off in the write-up only to add them back in, in thinking that I would not notice.

[@richardweyland116]

I agree about a vehicle is not an investment unless it's a 50yr old car that goes for a lot of money. I have a dealer telling me the car will be $10K more if I pay with cash.

[@adriandelaat2905]

There should not be any negotiation, just like Tesla, and Volvo, the manufacturers have to have fair pricing, and totally eliminate negotiating, it’s all an act I d

[@The173gispa]

is 5.9% a good finance? ? how long loan is?

[@jimbedrosian1506]

FYI Massachusetts doesn't do Temp plates.

[@helenconnor3714]

Mt. Denali is beautiful to look at, especially from a plane! If you want to strain your neck a bit, the drive past it is very nice also.

[@ForgetU]

Happy Wednesday.

[@bbizzle82]

not sure i agree with nissan they are known for bad cvt transmissions

[@truckercowboyed2638]

Not the new ones you can't go by the few older models that had CVT issues alot of the issues were due to lack of maintenance and services

[@brandonwaddell2583]

Gotcha love those Lincoln Cadillacs 😂 I think your editor made a boo-boo at days supply 16:10

[@KevinHunter]

Funny. We didn't see that...lol

[@dumbdee4]

This is not actually true in Califonia, yes I had to pay taxes in Califonia, but in Nevada they see the taxes I paid in Califonia and if I have to pay anymore I would have had to.

[@remowilliams7029]

I bought a car in Texas and had shipped to Cali. All I had to pay was the remaining taxes after to Communist California. They didn't like it but EF them.

[@dumbdee4]

@@remowilliams7029 Yep, I would have done the same. No wonder everyone is leaving.

[@georgedoolittle7574]

"How much for all of it?" is what I say!

[@laurasc84366]

Kia bad dealer? Ugh. Was going to look at soul

[@adriandelaat2905]

Toyota will not even negotiate prices on new cars any more.

[@IceManLikeGervin]

👍👍👍👍👍

[@ForgetU]

background music is not necessary. Thanks in advanced.

[@laurasc84366]

Mazda CX -5 is a pos

[@adriandelaat2905]

Negotiating is all an act I sold cars for 35 yrs,

[@adriandelaat2905]

This guy that’s trying to tell you how to negotiate is a joke, just buy a car no rust proofing, or etching or anything like that, unless if its zero percent ask how much a cash deal is, usually it’s not a true zero percent they are jacking up price of car to cover, usually do your own financing, and do not go to business office.