DON'T GET BURNED BY THE CAR DEALER DEPOSIT GAME 2023 Auto Finance Kevin Hunter The Homework Guy

Car Dealers often ask for a Deposit on a Car.Should you put a hold deposit on a car before buying it?
SUBSCRIBE ON KZbin / kevinhunter​ #Car​ #dealership #cars #usedcars #carsforsale #TheHomeworkGuy​ ​ THE BEST CAR BUYING ADVICE YOU CAN FIND is published by The Homework Guy Team (THG)! We’re the team of Auto Experts, Finance Gurus, and Car Pricing Strategists that well over 45 Million Car Buyers have come to know and trust.
VISIT OUR WEBSITE: thehomeworkguy.com
WANT TO LEAVE A TIP FOR THE HOMEWORK GUY TEAM?
www.paypal.me/consumeradvice or cash.app/$TheHomeworkGuy
WE THANK YOU IN ADVANCE! WE APPRECIATE YOU SUPPORTING OUR MISSION!
JOIN US ON OTHER SOCIAL MEDIA!
Facebook: / thehomeworkguy
Twitter: / thehomeworkguyz
Instagram: / the_homework_guy
Rumble: rumble.com/c/c-419535
Bitchute: www.bitchute.com/thehomeworkguy/
GET AWESOME (THG) HOMEWORKGUY MERCHANDISE AND SHOW CAR DEALERSHIPS YOU ARE IN CONTROL OF YOUR NEXT CAR DEAL!
the-homework-guys-store.creat...
With Titles like 11 Fake Fees, to Don't Say I'm Paying Cash at Car dealerships, and Car Shortage Crisis, and Car Dealer Says Bring the Car Back!... The Homework Guy Team publishes videos to help Car Buyers. Then we added Cash Buyer Negotiations, and Held Hostage at a Car Dealership, No Haggle One Price Car Dealerships, How Much do Used Car Dealers Pay for Cars?, 10 Things You Should Not Say to Car dealerships, and the Costco Auto Program. We hit all the topics, and we represent Car Buyers, a goal that’s often in direct conflict with Car Dealer goals.
A CAR DEALER WANTS TO:
1. SELL every car for the Highest Possible Price.
2. CONVINCE Car Buyers to use Dealer affiliated Lenders / Banks.
3. LOAD every Car Deal full of Fees and Finance Products.
4. OFFER Lowball numbers on every Trade Vehicle.
THE HOMEWORK GUY TEAM (THG) HELPS CAR BUYERS TO:
1. BUY a Car from Dealers or Private Party Sellers at the Lowest Price.
2. PAY Cash or Finance with their own Bank or Credit Union.
3. DECLINE Dealer Fees and Finance Products.
4. TRADE / SELL their current vehicle for the Best Value.
For more than 40 years, dealerships have EARNED their lowly reputation by being the masters of predatory selling. Dealers stalk victims relentlessly, often ruthlessly treating the most vulnerable car buyers (like seniors, for example) with little or no conscience. Car Dealers and their Finance Officers have no problem creating financial devastation for their customers with over bloated car loans, and quite often do. While the business has had record setting profits, Dealers never stop telling Car Buyers “We’re losing money!” Car Dealers did it to themselves. We point out the traps and the flaws of the process, and help car buyers get by all the nonsense without being ripped off. We promote fairness, honesty, and transparency, and we’d love to see a few dealers join our mission!
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.
THG CATEGORIES: cars, truck, van, suv, auto, new cars, used cars, autos, mechanics, automobile, vehicle, dealer, automotive news, auto shop, service plans, extended warranty.
LEADING CAR BRANDS (MANUFACTURERS) WE COVER IN THE US: Ford, Toyota, Chevrolet, Honda, Nissan, Jeep, Ram, Dodge, Hyundai, Subaru, Kia, GMC, Mercedes-Benz, Volkswagen, Tesla, BMW.
#PersonalFinance #Investment #Dealerships
How can The Homework Guy Videos help Car Buyers?
1. What you need to know before buying a car.
2. Information you need when buying a car at a dealership.
3. Benefits of Buying a Car from a Dealership or Private Party.
4. Questions to ask at a Dealership
5. Car buying tips and tricks from the experts
6. How to Buy and Pay for a Car with Cash
7. Using Carmax, Edmunds, TrueCar, Autolist, or Kelley Blue Book for Car Pricing Info.
8. Buying a Car out of state.
9. Taking Control of the entire Car Buying Process.
10. What to do if Scammed.
11. Illegal things Car Dealers can do.
12. Understanding Dealer Financing Tricks
13. How to Avoid Dealer Scams.
14. Reactions to Sales Training conducted by Car Trainers.
We’ve seen amazing growth with over 359,000 Subscribers and counting. Meanwhile, if you prefer to fix your current car (and we recommend that you do!), check out channels like Chris Fix or Scotty Kilmer! If you wonder where we get such brilliant financial ideas, watch the Dave Ramsey Show!

[@melaniecurtin6402]

Kevin said in his first video back that he would be on oxygen for quite awhile longer. So the fact that he’s using half what he came home with is fantastic! His voice sounds so much stronger.

[@discerningmind]

I missed what had happened. Was it COVID?

[@melaniecurtin6402]

@@discerningmind they said pneumonia. I think it might have been double pneumonia. He was in the hospital for a couple of months.

[@PlaylistWatching1234]

They never specified but double pneumonia from covid is pretty brutal.

[@discerningmind]

@@melaniecurtin6402 Thank you. That sounds awful. I'm glad he's made it. I'm a subscriber but I don't have time for every video. I just knew that he looked very different. That must have been a frightening experience. Thanks for filling me in.

[@discerningmind]

@@melaniecurtin6402 Thank you. That sounds awful. I'm glad he's made it. I'm a subscriber but I don't have time for every video. I just knew that he looked very different. That must have been a frightening experience. Thanks for filling me in.

[@eastwoodrmc1995]

Over the 35 years I've made a deposit 2 or 3 times and it never resulted in purchasing the vehicle. The dealer always tried to make a fortune off the car and I walked away. One thing I can say is NEVER make a deposit with CASH! The dealer will not give you the cash back. They are likely to mail you a check a week or two later.. I hope your health continues to improve. Thanks for the great content.

[@joem.7621]

From what I experienced, they request a deposit to hold the car so they won't sell the car I'm looking to buy to somebody else "out from under me" while we are working out the details of the sale. So, they wanted me to pay for them not to double cross me! I literally was asked to pay to ensure they act honorably. Unbelievable.

[@discerningmind]

They are doing what you stated, in a sense. The bad side of the deposit is what Elizabeth and Kevin are stating. The good side of a deposit is that it does hold the car for you, most of the time. At larger dealerships they can have as many as eight to ten sales consultants on-duty, and the likelihood of one of them having a shopper interested in the car that you chose is high. So, your deposit has locked-in that the car has been sold. Technically. But if an unscrupulous salesman and sales manager were offered more money for the car from another customer, I'm sure your deal could be pulled out from under you and your deposit returned.

[@TimeIsNot]

If there is more than one buyer for a car why shouldnt tbe dealer sell it to someone wbo is ready to buy? You want the dealer to hold tbe car for you while you think about it when there are people with money ready to buy. What business would do that? "Sorry sir, I cant sell you tbis car because.... well, see that guy over there? He is thinking about buying the car and I dont want to double cross him. When he is done thinking it over, if be doesnt want tbe car, tben I can sell it to you."

[@discerningmind]

@@TimeIsNot Yes, you're right about that. This is also the reason that women will fight in a store over who first grabbed the last one of something.

[@chiarac4967]

@@discerningmind wow, I'm guessing that's some walmart type of sht. I've never fought over merchandise in a store. How many people have been trampled in these black Friday sales? Not worth a few dollars, really, and the lowest of low class.

[@discerningmind]

@@chiarac4967 Agreed.

[@scorpiojuan1966]

Lexus of Kearny Mesa, San Diego tried this scam. I walked away. Soon we won't have to deal with salesman again. More and more cars will be sold online like Tesla.

[@NFT2]

Glad to hear you're improving brother.

[@neftalilizarraga7212]

I haven't heard of this deposit tactic before. Thank you for sharing! Another tool for my toolbox.

[@planetpower6686]

Great to hear your doing better Kevin. Thank you for your videos and advice

[@handleyobusiness]

Thank you so much Kevin!! Praying for your recovery

[@discerningmind]

Thank you both. Kevin, I'm glad that you continue to improve. God Bless. This video is timely as I have an appointment tomorrow. I had left the dealership on my first visit when the salesman got up to report that he was going to fill-in the "guys" on our visit. He wasn't expecting me to thank him and be leaving. Result, no deposit. I'm hoping that tomorrow I can hold my own.

[@kenhoward3512]

I just found your channel. One mistake I made, many years ago, was to give my car keys to a salesman, after a new car test drive, for the appraiser to examine my trade. After refusing to come down in price on the new car, I asked for my keys back from the salesman. He left, only to come back 10 minutes later - without my keys - and offering the same deal as before. This happened 3 times (30 minutes), until I got angry enough for him to finally return my keys. I then left in a hurry. I won't be giving my car keys to a salesman at a dealership again. Thanks for the good advice about leaving a deposit - without a completed and manager-signed deal first (one salesman demanded a $50 deposit from me "to show I'm a serious buyer" before he'd even give me his initial price for a new car - I left.).

[@CCaudits]

Awesome, advice Kevin thank you. I haven't said much lately but I've been watching your videos for about 2 years now. You're the greatest.

[@BronxCrypto]

These are excellent suggestions about generally NOT leaving a deposit at car dealerships (unless the terms YOU want are in writing and signed). Thank you, I think this will prove to be helpful in my next vehicle purchase. I look forward to my next new car, but definitely dreading the buying process! This channel is helpful. Thanks again!

[@MrJpags]

Glad to see you’re improving!! Love your videos and this has helped us in our past two car purchases this past year !

[@mmarte1622]

Thank you both!! Am glad you are improving brother!!! Blessings!!

[@bikerkat01]

We admire both of you for what you do for the average car buyer. Take your time and be strong.

[@tomb375]

Thank you Kevin and Elizabeth, glad to hear you doing better and thanks for the update on your health. Feel better and God Bless.

[@dondieu3154]

God bless you, Kevin. Glad you're getting better. Get well soon, and thanks for all the good info.

[@mongonius]

Thanks y’all. Great to see you doing so well.

[@Gt3johnmac]

It is good to see you are getting better, Kevin!👏🏽 I share your words of wisdom to anyone I meet that is shopping for a car or unfortunately suffering for paying too much for the car they have purchased.

[@rickstratton4924]

Bless you Kevin,hope you get better soon.You are the man.

[@armareedesign526]

Toyota dealer’s here all required 1k deposit to order. All cars have to be ordered now.

[@TheNortheastAl]

Kevin, it is great hearing you are on the mend.

[@wampuscat7433]

Kevin, it's great to see you looking better and better. Keep it up! You and Elizabeth are the best for training us in the nefarious ways of the stealerships. We do appreciate your work.

[@cboehmersr]

Thanks for all you do!!

[@danr2513]

Thank you Kevin and Elizabeth. Continued prayers for your healing ❤️‍🩹

[@hugrad99]

great to see you getting better Kevin. great to have a wonderful tag team partner like Liz!

[@EMNHandler]

Great stuff as always! Glad to see your health continues to improve.

[@Marie-pb2zy]

I am so thankful for the info you provide!

[@LtColVenom]

Thanks for the tips folks and get better Kevin!

[@jackcash5521]

So good to you back, a lot of people are pulling for you! You’ve helped us, maybe we can help you with our thoughts and prayers! By the way, Liz rocks too!! 😊❤️

[@peterbrunetto8062]

God Bless Kevin!

[@jasonm6231]

Definitely hope for a fast recovery. And thanks for all these car info.

[@kendalraptor]

I find it sad that this is assumed to be a lot of dealerships. Although I can't speak for many other than the one I work for, as a lady on the inside this is just not the way we operate. Especially with the way the Market is now we take deposits for cars that are not on the lot and refuse to take more than 500. We also never run credit when taking this deposit. We don't do that till the day you actually buy the car. Also something that may put your minds at ease is regardless of what the sales person or manager tells you, that deposit is actually refundable by law or at least in the state of Oregon from my knowledge. It so sad that this was common practice back in the day that many people still see dealerships are a scary scummy place. Simple truth is that there are fewer and fewer places like this now.

[@nickawilliams5175]

How is the deposit refundable? I've never heard of that

[@donjuce]

Great advise! Glad Kevin is getting better.

[@SIIKAP1]

I was burned. They gave my car I put a deposit down on to somebody else and then told me it is now coming in 2 months. In other words, they found another car coming and are giving me the next one, not the one I ordered.

[@RockinRobbins13]

You put a deposit down on a specific vehicle, which is no longer available. Get the deposit back. Don't go back to that dealer. Tell them what you are doing. Burn them by name on social media.

[@Answers721]

Call the police. That is fraud.

[@SIIKAP1]

@@RockinRobbins13 id love to, honestly. But I called all around and cannot find any other of the same car coming in anytime soon. If I can find something before mid April, I will. But my need for a car keeps growing

[@markh.6687]

Report this to your State's Attorney General's Office. And consider reporting it to the manufacturer as well (it could violate the terms of the dealer's franchise agreement with the manufacturer). Consider reporting it to the local TV station consumer reporter, and on the Better Business Bureau office for your area. Also, walk in and demand your deposit back.

[@kendalraptor]

Question sour patch kid, did they specifically tell you that it was a different car? Because a lot of days today cars are actually getting pushed back from their shipping dates not necessarily you getting a different car this happened to me and a coworker fine where we were very upset to have to tell customers that their car got pushed back another month. Especially nowadays this is a lot more common than you may think and that dealership may not have actually just sold that car from underneath you. I know it's easy to assume the worst in dealerships based on their sketchy history but I would do a little bit more looking into this as this is more common problem amongst even good dealerships than you may think.

[@mbutts1139]

We love you both! You guys rock!

[@randyforney1009]

Glad to see you are back Kevin. God bless.

[@pixofu01]

I'm glad you're feeling better Kevin! All your advice and videos helped me make a pretty good deal on a new Challenger AWD. Thank you! to you and your staff!!!! Take care my friend.

[@aguiremedia]

Great insight! Thanks!

[@jacksavage4098]

Thanks again for the information.

[@williamaskew8372]

Kevin, Glad to see you're on the mend. Congrats! I'm in my 70's, so I've seen it all with new car dealers over the years. I have found with technology things in my opinion are better today at many dealerships than 30 or 40 years ago. For the purchase of my last two new cars, I started on the Internet. I think it does help to know exactly what you want here. I emailed the several dealers regarding a 2020 Subaru Legacy XT . None of the dealers had one. So I told them to contact when they got one. I gave them specific colors and accessories. Then Covid hit. So about 13 months later I got a call from one of the dealers. Was I still interested. I said what's you best price. They quoted me $3,000 off the sticker. I went in did the paperwork on the quoted price and they also offered 63 month ZERO financing. Which I took advantage of. When I talked to the finance person I told him up front I did not want ANY of the add-ons. The car was in transit and I had driven a similar model at another dealership months before. it was about two weeks later the car had come in and was ready for delivery. I did pay a dealer fee which was about 15% of the $3,000 savings. Along with the Zero% financing it was reasonable to me. I negotiated a deal for my daughter over the phone with a trade in. She lived 100 miles from the dealer and we got an over the phone quote, and a trade offer. I explained to the dealer Sales Manager) the car's condition and we agreed he would increase the offer if in fact the condition was as I stated. It was and he agreed to up the trade value. It's a lot of work to get this type of deal, but most of the deal can be handled remotely, so it makes it easy to walk away if your unhappy with how things are progressing. Bill - Marlborough _ MA

[@jeffreyranney1501]

Fantastic advice, spot on!!!

[@TexanOnTheMove]

Kevin & Elizabeth, always great advise. I’ve had dealerships try to have me put a deposit down to hold a car I was looking at before. I just said “NO, I’m not buying today”. Kevin, We are glad you’re health is improving. Continued prayers for a full recovery!! Charley & Maria

[@jetsetternick3588]

Outstanding review! Phenomenal nuggets of information!!!!

[@unitedwestrong2187]

Thank you guys. Great content & very informative.

[@FSANTANA208]

Like always, very good information 👌

[@joemontero725]

Hey Kevin hope you feel better. Keep up the good work and good health.

[@mtfan]

Great news about Kevin’s health! Hoping for a full recovery soon. Your knowledge and videos really helped us last year to get a fair deal on a new car when we thought there was no chance due to the market. If we only knew how much crazier it would get!

[@chiarac4967]

I bought a car Jan 2020. Car was stolen May 2020. Nationwide search... March 2021 bought identical car and only paid $1000 more than the first one. This car is now worth 25 to 30% more than when I bought it. Crazy times.

[@armara70]

Got you on notification alert for each new video. Invaluable info!

[@stephenhughes9548]

Thanks very informative Great advice / presentation 👍

[@reycardenas8092]

Thanks for the great info

[@markymark903]

Good info guys...Thanks

[@jamessullivan6985]

Keep up the good work!

[@terryroanoke6963]

Thank you both for all that you do i will never be beaten by a car dealer again New to your channel praying for your health to get better be blessed always peace Amen

[@Chief_5]

Walking away from a bad deal feels so good. 👍👍

[@aleksanderleonenko1927]

Thank you for another great educational video.

[@pmh1nic]

Thanks for the car buying advice.

[@darkwhitedirewolf]

Great to see Kevin coming back stronger each time.

[@Okcharisma]

Why does he need oxygen?

[@krishnakantsharma1]

Thanks for the practical tips.

[@michelangelothegreat6183]

Love the show!

[@DrDanThePTMan]

Excellent content and very very helpful. I will be applying these points learned next week.

[@cutdcrap3733]

Thank you!

[@robertg1556]

Good to see you back Kevin.

[@stevefatland7704]

I appreciate these videos. Keep up the good work!

[@KevinHunter]

Glad you like them!

[@tdtinspectionservices]

Great information! Always be sure to have all the details worked out in writing before putting any money down. Also be sure to have those documents signed and agreed by the dealer and obtain a copy as well!

[@mrgee7059]

I wish you the best and a speedy recovery

[@cameronjenkins5304]

Kevin good to see you. My uncle used to call that the "sand trap". You get a deposit and get them to sit down and it is a wrap. Running their credit late at night while they are still there. Telling them it will be only 20 minutes. Then they commit to "only" $349 a month for 72 months for a lemon. Great Message!

[@abdriver5563]

Thanks so much for the info .Get better Kevin . You guys rock .

[@KevinHunter]

Thank you! Will do!

[@ThunderDan88]

Thank you.

[@khalifgreen581]

Prayers 🙏🏽🙏🏽🙏🏽

[@gregbowers5240]

I had the Nissan salesman ask for my driver's license to be able to take a test drive but did not ask for my social security number

[@ralphparise1693]

I missed you, glad your back

[@bodyguard5879]

I’m glad you are doing better. God bless you.

[@KevinHunter]

Thank you!

[@swissalpsphone8160]

Great. More videos like this.

[@tbwarehouse]

Thanks for what you do. Get well soon!

[@alexwright9228]

I just met you but I am hope you get better soon brother , and thank you both for this channel .

[@donaldgaudette4252]

KEVIN, WISHING U THE BEST

[@koyotesway5070]

Good stuff guys, well done. Peace

[@davidkeo2639]

You are the best!

[@quantashornesr624]

Great job

[@rogerthat117]

Thanks

[@mir3017]

Thank you

[@MyUsername1120]

Great job as always!

[@KevinHunter]

I appreciate that

[@charleskadletc2431]

I've had that happen with my first car in my early 20s. I had a bait and switch as well. I learned the hard way. My uncle sold cars for 40 years, was number 1 seller most his life.

[@davidmount9117]

God bless you both.

[@JBPHOTOGRAPHY76]

More great advice and smart things to think about it. Keeping on keeping on Kevin!

[@KevinHunter]

Thanks, will do!

[@jerrydiver629]

Great information

[@TheCarCrazyGuy]

Looking good Kevin 🙏🏻

[@geraldnemeth7944]

Love you guys , I love buying cars.

[@stevenordstedt2535]

I love All your Real Truthful American Auto buying videos! Jesus please continue to Bless both these 2 wonderful Honest People and their Families to.

[@KevinHunter]

Thank you for your kind words Steve!

[@stevek2930]

Good morning and thanks for exposing another dealer's scam I look forward to your broadcast

[@kentwicker6818]

Thanks for the info, I didn't realize dealers would take a deposit with no buyers order in place, that's very low. I actually had insisted a dealer take a deposit once. I could tell it was an inexperienced salesman. Deal was in place, buyer's order signed, but I was waiting on an insurance check. They said no problem, bring in in a couple of days when you get it. Fearing the vehicle would be sold because all I had was a piece of paper, that's when I said let's put a deposit on it.

[@louiswilliams4657]

Another great job !

[@KevinHunter]

Thank you!

[@tomek5513.]

Great video

[@geovaughnprayer6897]

Great information!

[@patricehanes2590]

Thanks for this information!!! Do you guys have any videos on how to re-finance a vehicle and what that all means?

[@lunguyen6525]

Love it

[@bobm21]

Love this channel, l will be ready to buy after the supply chain issues.

[@mulinzhan4167]

Bless you Kevin!

[@KevinHunter]

Thank you! Much appreciated!

[@TheNortheastAl]

A variant of that scam happened to a friend years ago. The dealer needed a $100 deposit to quote you a price on them car you were interested in. He gave them they $100, decided not to buy the car and they wouldn’t return the money there. He had to call their office to get them to issue a check. Fortunately, that dealer is no longer in business.