Don’t fall for this negotiation trick at the dealership

[@basicallyph0r]

7.99% is still depressing, dude.

[@nickhymel3763]

That’s fucking great right now. Lowest most people get is around 9 and that’s with good credit

[@slow2.0turbo]

I came in pre approved by my bank at 3.5% apr and the dealership matched it

[@nickhymel3763]

@@slow2.0turbo you’re full of shit. The federal reserve is lending money to banks at 5% rn. That would mean that not only are you getting free money from the banks, but free money from the federal reserve 😂

[@nickhymel3763]

@@slow2.0turbo the banks are not gonna give out free money. If they’re buying it at 5% wtf makes you think you’re getting it at 3.5%?? They either lied to you or you’re dumb and read something wrong.

[@whatanamazingusername7962]

I got 12.99 percent trading in a car with 8k in negative equity for a toyota venza lomited. I have 760 credit score. I put 3.4k down.

[@pdxmusl1510]

I was in a car dealership a few years ago with my girlfriend at the time. They wouldn't give us the interest rate. Only the payment. They refused, saying it didn't matter. We are both math nerds. So i back calculated it in my head. We walked out. They tried chasing us. It was absurd and insulting. We pulled this trick. If they could beat the rate and payment plan she already had. They couldn't, so they tried hiding it. Thought we were stupid.

[@Caleb-mz7rw]

Most dealership won’t tell the salesman the rate the finance manager has to go over it and salesman don’t have access to it modern day car buying 😂 so the finance manager wouldn’t go over it with you?

[@gabepetras3841]

“I hope he gets banned” killed me

[@turtledude01]

I swapped my car loan from one bank to another, went from 8% to 4.5% on a 2014 jeep

[@joelc9329]

A few years ago sure

[@turtledude01]

@@joelc9329 no, not even a year ago...

[@trentonbrowning2008]

This exact thing just happened to us yesterday when we were buying our car. They guy brought out the total, the down payment and the monthly. We noticed it was high so I asked what interest rate he used and he said “the average for your credit score” and asked what that was and he said around 5%. I did some calculations and said this is for 7.4%. He then said “oh man that isn’t right, my manager must have did a wrong calculation” he came back and the monthly was $225 cheaper. They ended up using a 4.7% rate.

[@hnx8522]

now a days post pandemic, dealerships don't even make deals like these anymore..you don't want the car, there's the door is the kind of mentality now. They don't want to bargain! i think these videos apply very well to the time prior to the pandemic!

[@Megzamani]

Exactly. Not current thinking.

[@ForeverTouring]

unfortunatly i agree. most are following the lead of EchoPark and Carvana with their "One Simple Price" if you walk they dont care, unless youre buying something like an Audi or BMW from the dealer

[@S2kTi]

Lmao a 4 square is how I learned how to sell cars at a Honda dealer. When it worked, it WORKED, but when it didn't, it turned people off big time. Thankfully the dealer I work for long term since doesn't play these games.

[@cousinjohncarstuff4568]

Bring out a 4 square, I cross out 3 and only deal with price first. No other #s matter if an agreeable price cannot be reached.

[@Befread]

If you walk in with a pre-approved loan there shouldn't be any down payment. If they ask for 2500 down then the price is 17497 and will be covered by the pre-approved loan. The most that came out of pocket for me was some random $30 charge.

[@philipcordeiro9808]

He wants to see if the dealership can match or beat the rate, that matches the loan structure on his pre approval

[@mitsuturbo]

As soon as he says "let me go talk to my manager" i say "NO, I'LL GO TALK TO THE MANAGER, Where is he or she? because I'm clearly talking to the wrong person"

[@ugabuga1361]

you think you are going to get a good deal by doing that? the manager will have you wait even longer, you bother him directly and i guarantee you he will screw you even more. how do i know? i saw it done... i didn't even blame the manger actually cuz the customer was fighting for every penny. literally wasting gas all around town to save $1 a month.

[@chrise4659]

​@ugabuga1361 hey 72mo term is $72. Thats gotta be worth a full tank

[@FTTBALL]

I would just tell you to leave at that point if you’re just gonna be rude. Thousand of potential customers walk through those doors every single month. I’d rather sell a car to someone who isn’t gonna be an A-hole rather than one who is.

[@buffalosolider206]

@@ugabuga1361yea I’m coming hard to your dealership I have 2 years to decide everyday imma be on your ass I’m tough and your just pipsqeueek I’m tough

[@mitsuturbo]

@@FTTBALL I guess you don't like money.

[@Andybojangles]

$500 a month for 14k car 😂

[@jayroo26]

I bring a tablet with a spreadsheet that has all the calculations built into it. That way I can just focus on the price of the vehicle, trade-in if I have one, and interest rate if I decide to finance. As long as I have those three variables, I don't need anything else. I don't use online calculators, they don't always get the tax and trade in part correct.

[@constantine4654]

explain/help a bro out on getting better in that. im at the point where im doing pretty accurate general calculations and complex financial math. HOWEVER i dont know how to do any of what you just said. where do i go ?

[@jojodice1]

Share the spreadsheet

[@constantine4654]

@@jojodice1 Im pretty sure homie was just bullcraping for the internet. I recommend googling how to make spread sheets on YT . basically look into how to calculate interest into EXCEL via the calculation then make a range with all numbers you want for interest (be careful not to do .01 decimals waste of time) then analyze. look into basic excel cell functions like A1:A5 and so fourth. Some examples would be =sum(A1&B3) , =add(A1:A10). be careful you have to be exact like with coding or youll end up with ERROR , ###### or !!!!!

[@constantine4654]

@@jojodice1 hope this helps you in your journy im kinda busy and trying to find time myself to learn.

[@jayroo26]

@@constantine4654 there are plenty of resources on KZbin that can help with that. Start with the price for the new car, subtract the price of your trade-in, and subtract a down payment if you have one. Then calculate the taxes for your area. In Florida its about 7%. Keep in mind, you don't pay tax on your trade-in. So for example, if you are buying a $25,000 car and your trade-in is worth $15,000, you would only pay tax on the $10,000 difference. Once you've calculated that, add everything up including the tax and that will be your amount finance. Go to KZbin and look up the formula for calculated monthly payments. Then you just enter the amount of months you want to finance, and the interest rate and that will give you your payment. It sounds complicated, but it's only a couple of formulas and you can find them easily on KZbin

[@TheAudi585]

I’ve done this and they absolutely hate it when you come in with a preapproval from somewhere else or a check from a different lender they know they can’t beat it or match it.

[@gabrielwalker1318]

😂😂😂😂😂😂😂 I really like these videos 😂🤣 thanks 👍🏼

[@Bonkai91]

I like these tricks.

[@kingkiller1541]

Bro making it hard for the rest of the salesman tryna make a check

[@abranorozco227]

Ong bro I have to 4square every-time he out here snitching us out…

[@jorgesalazar818]

Change profession. Car salesman are as useless are real estate agents

[@KumoGoesFast]

if you cant make a check without ripping people off, find another career

[@abranorozco227]

@@KumoGoesFast until cars go extinct, people are gonna always going to buy cars I don’t fuck anyone over I tell them how everything is going to be I am straight forward with everything I help and guide people I worked as a busser/waiter /bartender I have the service and customer help that’s my thing people have had bad experiences with other dealerships but not every dealership is the same. Just because my ex cheated doesn’t mean my girl now is going too but my previous girl did she was a girl so do I never date again then? No if you never worked as a sales rep Just don’t speak.

[@KumoGoesFast]

@@abranorozco227 not sure why you popped off, but if youre selling cars and not ripping people off thats great. i said if you are ripping people off, find another career. super defensive for no reason lmao

[@BigInjun05]

247? That guys still getting robbed 😂😂 i have 219, ask him where that extra 28 bucks a month is coming from.

[@jakecanales8705]

“How’s he make money?”…😂 He’s still fleecing you.. don’t buy new, don’t finance, stay away from dealerships

[@arthurhernandez8937]

Some are bringing back 0.9 again

[@johnnyslokes2712]

That's funny because when I saw $500 a month.. I was thinking that's needs to be divided by 2 😂😂

[@katman8714]

Whose buying cars nowadays 🤔

[@AlexAlex-gs1xh]

Uuh everyone except brokies.

[@michaelc9128]

I went out last year and bought a travel trailer 7% ..hey suck it up. It's going to be around for awhile

[@nicholasselke5214]

@michaelc9128 I make a little less than the average salary for my area. I still make sure to only buy a car that I can save up and pay cash for. Others should do the same thing

[@michaelc9128]

@@nicholasselke5214 you are correct,but #1 if if everyone only purchased used cars they would be super expensive ( supply and demand) #2 if nobody purchased new cars there would be no used cars for sale

[@evr0.904]

Imagine thinking that paying 8% over 6 years is advice...

[@CosmicDomino]

Not a good time to buy cars rn, that’s for sure

[@evr0.904]

@@CosmicDomino Imagine thinking that's what's wrong with his advice...

[@kev-bot7023]

⁠@@evr0.904I’m not sure when this short was posted, but that’s a pretty standard rate for this market. I think that’s the point that Cosmic was making

[@evr0.904]

@@CosmicDomino That's not advice...

[@room6264]

That's a better rate then prob 70% of the people who financed in car in past 2 years

[@Carducci69]

8% not good at all. Is that what good rates are these days? 😅

[@zachbreece2311]

Yes they are

[@ManWithWood]

That's average for a home loan right now.

[@TheAudi585]

Depends on where you’re at. I got an 8% for the lowest that I can get from a lender which was the best I can get for a 72 month loan but now they’re dropping it down to 7% and 67% but the shorter term ones are now 5%. I’m waiting for the 0% with rebates.

[@HH-le1vi]

​@@TheAudi585you're gonna be waiting awhile for 0% when interest rates are this high

[@mindfullymellow2323]

Have 801 FICO. Toyota Financial tried offering me almost 9%. Went to Mazda and got 3.9% for 60 months. Have to shop around for financing.

[@tdadp]

You hand me a 4 square I’m not saying anything but excuse me as I get up and walk out the door.. I know better ..

[@charlesschmuckatelli7888]

My last rate was 2.19 at 60 months nothing down...dealership wouldn't touch it so i financed through the dealership and refinanced 2 months later.... so yea

[@youknowmyname5695]

... or, just pay cash. Save all this clownshow.

[@Shadowboost]

To even finance a car is already a loss. GTFO of there

[@CraftyFlox]

Were do u even work

[@marioStortuga]

They come with a 4 square I get up and walk.

[@Tim_ra]

8% at 72 months?

[@jacobm9263]

Sometimes i hope he gets paid too, like, i hope he gets paid when hes working, otherwise the job would be stupid

[@aaronth07]

7.99's crazy

[@daynejohnson1918]

A 4 square.. lol..

[@douglasbaek4656]

oof. Mine is at 0.9 lmao

[@thomasandrews9355]

lol wife just got 3.99%...weird.

[@khenryking1091]

That only works if you're buying Ford! If you are buying a Japanese car dealership, don't give a shit!

[@Fifth_Entertainment]

72 months 😮

[@RyanBlair-uw8ep]

Can they please stop saying Russ flips whips it’s whip

[@jasonlasley6726]

7.99…. Fml

[@mitsuturbo]

7.99? That's gotta be for somebody with a credit score in the low 600s or a very old vehicle.

[@ethanspencer3990]

Nope. Nowadays that’s somebody with a 800 score on a average 60-72 term

[@flipside3864]

@@ethanspencer3990 yup I work at a dealer and thats true ive seen on average with like 450-500 is like 20%-24%

[@eardestructioninc.4928]

Have you seen interest rates these days? Even people with great credit are paying 7-8%

[@haroldpinter8076]

I have 810 credit score, like from a legitimate credit check, and the lowest I got is 6.59% from two separate credit unions.

[@mitsuturbo]

@@haroldpinter8076 That's a far cry from 7.99. I got the same score and the same rate last july.

[@jose.luis.ayala.]

You TELL THEM YOUR PRICE & MONTHLY payment. Go in PRE-APPROVED. Leave if you get ANY resistance.

[@slimydick23]

my credit union gives 2.9 on all used cars, always has, all terms, all makes and models