Why Dealerships Lie About Car Prices

[@CarEdge]

Keep doing what you’re doing Lucky! We’re making a difference 🤝 collab soon?

[@LuckyLopez777]

thanks. and Yessssss!!! Carvana's Numbers are coming out soon 😁

[@kingeezy13]

I subscribe to both of you! Def epic collab

[@COMMANDER-ONE]

Lucky I found you because of “your auto advocate” so good job to both of you.

[@vincenttolve9756]

I have always ignored the nuclear threats from North Korea, Russia, and China but now along comes along an honest car dealer. The end of the world truly is near.

[@LuckyLopez777]

hell has officially froze over lol

[@gigiis526]

I know because Gods word never returns void. Prophecy in the bible always come to pass

[@andresmattos7541]

There are no honest car dealers is like saying there is a hones drug dealer....

[@tractioncontroldelete]

😂😂😂

[@Glenn.Cooper]

That's funny dude!! Or not, I'm not sure...

[@replica4132]

I even had a horrible buying experience at the dealer I WORK at 😂

[@anwan5]

😂😂😂

[@CGphotoOp]

Literally just happened to me. Found a good price for a CRV (for my parents) inspected it, test drove it, sat down to crunch numbers and then they hit me with $1480 for VIN etch and Nitrogen filled tires. They refused to drop those BS dealer installed options. They got cussed out and I left.

[@williamirizarry1113]

My wife and I literally felt like we were back in school being scolded by a teacher. We were like, what?! We walked out and the dumb manager came out running and almost jumped in front of our car, as we tried to drive away. "I'll give you a better deal, please come back in"! He shouted. What is wrong with those people?!

[@petrosnemardos]

Wow

[@johnengland8619]

They are greedy and used to being bully

[@stevornrichards1380]

When I was Selling cars, every time I'm honest and upfront with my customers, they would never buy from me. Customers don't appreciate honesty, they only appreciate a better deal. Quoting customers prices over the phone, you will never sell that customer. They will shop you with 7-10 other dealerships and if a dealer beat you by a penny, they'll go with that one. Lucky is right, you don't get the actual price until you go in. Even when a dealer advertise special pricing, only thing customers look at is the advertised down payment and advertised monthly payments... they don't read the disclaimer that says with approved credit, excluded title, tax, and license, and dealer add ons. When the price is different, they claim false advertising when they actually refused to read pricing disclaimers. You can't add tax, title and license on price quotes because different counties, municipalities, city and state have different fees and tax rate and must be paid by the consumer. For new cars, Website will state the MSRP but also say Dealer /Retailer Sets Actual Price and MSRP and rates advertised does not include TT&L and is just an estimate. Even when you show customers the website that actually states that, they're too prideful to admit that they misunderstood. Customers will also lie to get deals. They'll say another dealer gave them x amount for trade and another gave this and that not knowing we can actually find out. Most Dealers talk to each other. However, dealers will tell customers a car is available knowing its not for an opportunity to sell something. Customers are not saints and truthful either. As far as I've seen, dealers and customers are in a tug of war to take advantage of each other. Dealers try to maximize profit to the max and customers will try to steal the vehicle from you attempting to buy your vehicle below cost. It's just the nature of the business.

[@erickadrianvf]

I recently call a dealership 3-4hrs away for a car I’ve been seen, keep in mind it has not sold since July. All I asked was “Single dad with a 2yr old, 3hrs away, can you at least give me an OTD price” “blah blah… we don’t entertain talking prices on the phone. does thursday work for you to come in?” I hung up. It will soon be on Auction.

[@chand.4401]

The audacity 🙃

[@winduncan9818]

30 years of buying cars, motorcycles and jet skis. Only tried to buy from a dealership once. Wouldn't sell for the price hanging from the mirror, 3 guys trying to pressure me, "F" my local dealership!!

[@Andy-im3kj]

Yep. My old man taught me well and I have happily never bought from a dealership. I have always repaired my own stuff and found a way to get it chugging along. I would never recommend these sharks to anyone.

[@josephweiss2271]

The outrageous documentation fees in Virginia are out of control. 700 bucks to cover the dealership's costs for paperwork!? I go across the Potomac Ocean and buy in Maryland where the fee is capped at 299. CarMax limits the fee at 99. Last car I bought in Virginia I asked the financial employee (I was paying cash) what the fee covered and he couldn't explain it but nor could he waive it. I said I'm paying cash and you're not incurring all the same paperwork costs so I'm not paying it. Sales rep finally stepped in and reduced the negotiated price another 500 bucks. BLUF: The dealer is always trying to jam you up to juice up the cost of the transaction, so you must be vigilant for the entire transaction and not let your guard down once you agree upon price.

[@timsteinkamp2245]

Whenever you buy from a dealer it seems all paperwork is gone, destroyed and nothing to see. That works better for buying private with an owner that saved his receipts. Buying private lets you have a license and a tag that may be good for a year plus. Buying off a lot means no license plate so a visit to DMV. Then we need to hire a mechanic to give us a report on the quality of the car's functions plus latest maintenance of the vehicle and how much does that cost? I look at cars on lots and there is no report on what needs to be done or has been done. Big difference in what a car is worth.

[@wakeboarder9180]

I've purchased about 30 new and used vehicles in my life, mostly from dealers, and it's gotten a lot worse in the last few years with stupid fees and add-ons.. Last purchase was a used GMC from a GMC dealer in the Sacramento, CA area. This was about a year ago and the advertised price was fair. Cash purchase. They tried to add $3,500 for paint protection, nitro filled tires, and other miscellaneous bull sh**. I directly told them "that's fine I don't need the vehicle." I then I stood up and began walking out the door. Amazingly they suddenly honored the original price....took about 10 seconds. I still have the vehicle and like it, but the negative sales experience really soured everything

[@changeforthebetter8369]

Hey Lucky! Immigrant here, I live in Vegas I can’t wait to get my first car (Honda Civic sport 2023 Hatchback)from your dealership. That’ll be so crazy and dope!🔥

[@2chuck]

I've only bought cars from 2 dealers in my 74yrs. The first was a used car salesman I stumbled on when I was 17yrs old. He was a straight shooter, told me the price, no add ons. I bought 2 more cars from him because he was trustworthy. I could call him and tell him what I was looking for and when he had it come in he called me and brought the car to my house for a test drive. The second was Honda new car Salesman. Same M.O. he was truthful, had fair prices and even came in on his day off to write up the deal. I bought 4 new Hondas from him over 18yrs and the price was always competitive. If there was ever an issue with the Finance guy I told him and he straightened it out. When I find someone who treats me fairly, I go back over and over again. Way too many dealers lose future business over a few extra dollars they don't deserve.

[@tdunn2]

YAA shout-out!! Ray and Zach are the real-deal, ya’ll. Their main motivation is shine a light on the bullshit dealer/automobile industry.

[@mrgreenbaypacker929]

Exactly

[@scottr2706]

They were good when they started. Now they seem to engage in a lot of click baiting as they seem to repackage the same presentations regularly. I think they began to falter when they started selling extended service contracts.

[@mrgreenbaypacker929]

@@scottr2706 I really believe they see most customers as just a number They don’t value customers like they did yrs back

[@kidmystery2010]

Buying a vehicle sucks. long hours waiting. I just started a used dealership I figured out all that waiting was bs. You don't have to lie to sell a car! You're right, those dealers give us all a bad name

[@zeke5491]

I notice on the price is right, new car prices are much cheaper than dealer prices

[@ggskater]

I went to a dealership to purchase a Jeep Gladiator in Houston with a listed price of $43,000. When I go and get my trade valued. When they ended up charging $53,000 which was more than the listed MSRP before taxes and fees. With dealership 'add ons'

[@melissachartres3219]

They ended up charging? Does that mean you purchased it?

[@ggskater]

@@melissachartres3219 I did not.

[@melissachartres3219]

@@ggskater good work! (not with your sentence structure... but with your self restraint at the dealer!)

[@tobylopez445]

Here in Puerto Rico, last week the Dept of Consumer affairs went to over 100 dealerships on the Island and fined over 15 dealerships for falsely advertising their car prices. So, now when a buyer goes to a car dealership, the price of the car is what it will really cost before taxes. and the general public was told to report anyone doing it differently.

[@GabrielPineyro]

Los arbitrios in PR are 💩

[@stevornrichards1380]

Then that same government that charge the dealerships going double tax you the consumer for that extra work. Nothing is free. Either corporations take advantage of you or your own government. I don't look into it deep anymore. I buy what I like because once I have it, I'm going to enjoy it. If it fits my budget, I'm buying, if it doesn't, I won't. Simple as that

[@jwu1338]

Hey lucky love your honesty, there's something I need to mention when I bought my last car, the asshole salesman sent me to the finance and and warranty and when I turned it down he wasn't happy, just say no no no........

[@azmike3572]

I read where some buyers would prefer a root canal over a dealer visit to buy a car...

[@markfiala6730]

I was told once by a salesman at ford dealer “it’s common sense that you can’t buy the car for the advertised price on the website.”

[@Lee-up4bz]

I was helping my daughter buy a used car from a local dealership. She saw the car on car gurus. We got an appointment to see the car (during covid). When we got there, they said the car wasn't available to test drive because they just got it in, it still needed cleaning, etc. Right away I was sus already. Then they showed us a newer version which cost more. Of course my daughter loved it. We actually got to the price negotiation. Sticker price they have us was 13,999. The out-the-door price before taxes & licenses was another 2k. I looked at the breakdown and they were charging for the alarm tracker crap. I was like hell no. I laid it down to them about the first car, and then the extra costs. They refused to lower the price or take off the 2k extra. To top it off they said they offered no warranty one u drive off the lot. Wtf. I straight up told them I would never do business or refer them in any way since it seems like false advertising to me. I told them we're going to buy a car no matter what but I guess it won't be from them. We did buy a car a week later and had a 180° much better experience.

[@gstreitenberger]

Thanks for telling it like it is. When retail used car prices come crashing, down, and it’s starting, consumers will have no mercy. What is the expression ? ” you made your bed lie it”.

[@IIIKingsMedia]

Panda ! Great idea to be honest and up front …hope you keep your integrity!

[@corinne2721]

I think this is the one I commented on I have seen some prices go down....I was wrong!!! ...much love to you and yours Lucky 🤗

[@jimmulderig743]

Especially when dealers offer lease deals. It’s surprising how little salesman know about cars they sell.

[@shanew3293]

Great info.. People have grown tired of dealers scams and over pricing. I think many dealers will be out of business soon with the market collapse

[@LuckyLopez777]

alot will in the next 12 months

[@mrgreenbaypacker929]

I personally don’t see a market crash , I think a mild recession is already here and that’s about it

[@jasons7070]

restaurants on south beach are like this, you never know what anything is gonna cost you lol

[@nicknormando4220]

CarMax was pretty easy to deal with, took about an hour and a half and I was out the door with my jeep. That includes test drive, and just paid taxes and plates/registration

[@phathokum1855]

I only buy new from dealers and I have bought a lot of new cars over the years. The dealer fees and other price add ons actually save me money on the price of the car because I don't pay them and others do. If all dealers decided to stop charging any fees or price add ons, to make a profit, they would have to raise the price of the car, and then I would pay more. I think of these added fees as a stupid people tax. Stupid people are taxed so that I can pay less for the car.

[@richardadams974]

I am in the process of buying a car - I really appreciate your channel

[@ct4074]

i priced a Jeep on their website to order one at the local dealer and they refused to honor the price and jacked it up. turned around and left.

[@DonnieB_83]

This video resonates deeply. I'm located in Florida where the miscellaneous fees at the dealerships are ludicrous. I flew out of state earlier this year to buy a car because of this. Love your candid way of conveying how shady these horrible dealers are.

[@coffeecup3177]

I just returned yesterday from Rochester Hills MI and Fox Toyota. This is the 2nd 4-Runner I purchased from them in 3 years. They were great both times. Simple one page sheet listing the out the door price. Followed up with the Monroney Sticker when I wanted to see the details. Drove back to the FL panhandle.

[@alb12345672]

THey are crazy. I wanted a rust free truck, I am in NY. Advertised at 19K. I get a sheet the price was almost 30K, without transport. (yes it included tax and all but still crazy). Just a regular ford place. Read Reviews and that is what they do to everyone. $4000 "recondition" fee was one of the charges. When I asked what was done they said front brakes and some routine service. $800 "detail fee" :lol:

[@edhcb9359]

We were thinking of buying our daughter a car in Florida while she goes to college there. Thanks for the warning!

[@jgunna158]

Florida doesn’t have a cap on recon, doc, or destination fees. So it’s not surprising to see 2-5k fees or more plus selling price

[@alb12345672]

@@jgunna158 Sad part is someone bought the truck. This was during the crazy prices. I called him back the next day to deal. He said someone actually paid a bit more for it and he would be glad to help me find another :lol:

[@bobjoe2738474]

Just ran into this issue at a dealership in the Nashville area. “Advertised price” of $72k. Got there and they said $108k….

[@xavierperez6845]

I agree that online car sale websites play a factor into why these dealerships perform these same practices now. But there isn’t an excuse as to why they did those same practices before. It sucks that some of these dealerships get away with this to this day. If they want to sell high then they should already factor these fees into the price as you stated in the video. Instead of doing false advertising practices.

[@drooliusprime]

the other thing for places like auto-trader is that i can look nationally for the right car for right price. their search parameters are good to narrow the search. If one of them, like autotrader, had an "out the door price" as a requirement, that would level the field better.

[@MalachiVanHaynes]

I'm in Vegas. Based on this video, I will be visiting your dealership for my next car. Liked and subbed! 👍

[@indianoutlaw5702]

Thanks for the information. I always ask for the OTD price (TTL included) via email and if a dealer refuses I give them one chance to correct then tell them to pound sand. ALWAYS they contact me back with a better offer. However I will ALWAYS choose the dealer with the most reasonable price who is up front. Haggling $500 dollars on a $40K vehicle is NOT worth my time. Sadly the couple One Price dealers I have found in MD are not very good at pricing fairly. Maybe someday.

[@BigFactz66]

I've only had 2 occasions where the Internet price was the actual price. 1 was a Chevrolet dealership, they gave me the OTD price, I drove 2 hours and the numbers didn't change. The other was through Tesla. I the Tesla online and the car showed up to my driveway a few weeks later. I wish all dealerships were that simple.

[@TheOverisel]

There was a car company that started in 1990. Their dealer sales staff were salaried. The cars actual price on the sticker was the ACTUAL price. Their motto was "A different kind of car company." The product eventually failed but the sales mechanism was sound. No haggling and upsale high pressure BS. It was Saturn car company.

[@dolphincliffs8864]

There are so many Saturns still on the highway here in Mn I thought they were still in business! They still look great too!

[@TheOverisel]

@@dolphincliffs8864 They had plastic body panels were fuel efficient and inexpensive to buy. Sold very well thru the 90s. They consumed oil early but if you didn't let them run out of oil they would keep running.

[@cybereagle19]

After the recent hurricane flooded my car I had to buy a new car, I had a great experience with the dealership and thank god I got my 23 integra at cost. The dealership didn’t try to up sell or even charge me the dealer markup. Best car buying experience I’ve ever had 🙏❤️

[@terrydebord7878]

The Ford dealership sales manager told me that if I didn't buy a truck I was looking at i must be a stupid fool

[@mattkim9071]

My carvana buying experience was awesome. Everything was completed in 10 mins. There was no one trying to sell add ons, keeping me at the dealership for 3 hrs.

[@courtneypuzzo2502]

can agree with this to a point especially on sporty/luxury cars that have gas guzzler taxes etc. added I.E. a Cadillac CT5 V Blackwing fully optioned with destination fee and Gas Guzzler tax included sells for $113,665

[@SkylineFTW97]

I still remember almost a year ago when I went to look at a 2009 Honda Fit Sport. Listed for $7500. After fees, the price was $10k. I walked out.

[@wolfpack4128]

I've always bought my vehicles off the lot. I email them with what I am willing to pay after doing a lot of research (I'm not a low baller). I tell them if you try to ask about any upgrades I will leave. I've had dealers ask if I work for a dealer because my numbers were within a hundred bucks. We'll I decided to buy a new truck and did the regular dealership route. I know the dealer I dealt with and it wasn't terrible but it is so much more hassle. Couldn't get them to budge on tacked on fees.

[@michaelhatfield5808]

I guess I'm lucky. Two pleasant dealership experiences in a row with none of the extra BS, with the latest being in this crazy market.

[@RogerThat787]

Tell city council that for x amount of dollars you will gladly leave that area. Worse then car dealer are attorneys so you may have to deal with those guys.

[@Izzy2G]

I like your videos. I’ve been in the business since 2002. I understand what you talking about. We have been one price since 2016. I love it cuz they know the price before they get to our dealership.

[@MB561]

It's a pretty tough sell to suggest a used car dealership is going to make any area more beautiful.

[@philipramsden4975]

The best time to buy a car is when you don't NEED one. You can be patient and find the best deal and not be afraid to walk away.

[@blanchestreet7654]

Come to Texas we love honest car dealers.

[@omarlomeli88]

I have had my share of bad experiences with dealers. The last time I went to a dealer to purchase my wife an SUV it did take over 3hours but it was not an unpleasant negotiation & I did end up getting a great deal. I'm not sure if I can name the company but it starts with car & ends with lotz

[@rogerm3708]

I won't drive a long distance to look at a car anymore unless I have a reason to go there. The price always goes up when I get there, never down

[@LuckyLopez777]

so true

[@thomasmargolis6057]

My history where I went to dealer, where there was a specific vehicle. My research was done, knowing I did not know everything. The vehicle described has issues, and problems that are not readily discussed by them. I learned to walk with their garbage conversation.

[@shaiittah6977]

I ordered my Hyundai Ioniq 5 online , when the dealership called me to say the car had arrived , I was sure the haggling was going to start , I had anxiety about going to deal with the salesperson who I thought would try to jack up the price , to my surprise, it was the price and rates I had seen when I placed the order 6 months prior. In the end , no haggling, as easy as buying a sweater online

[@eemer2437]

You’re a class act. Enjoy your channel.

[@shanew3293]

I am probably not the normal buyer. I buy cash and will do my homework before going into dealer. I figured out what I want to spend for the new/used car and what my trade (if any) is worth. I'll then go in and tell them straight out what I will pay OTD (out the door) no back n forth no "let me check with my manager".

[@Oldez60s]

Thanks for telling it like it is! Dealers I’ve been to have done exactly what you’re saying and worse 🤮

[@Enjoymentboy]

I'm reminded of the last time I went to buy a car. I saw the ad and thought I'd give it a try. Drove 3 hours there and called them from down the street. They made sure to ask where I lived and I told them...but not where I was. "Sure, it's still here. Come and take a look" they said. About 5 minutes later I walked inside and saw the only guy there and told them I was looking for a car that I saw they had an ad for. he told me that I JUST missed it but they had one almost identical but it was a few thousand higher. I told him that I had JUST called a few minutes ago and he had told me it was still there and to come by. He knew I caught him in his lie and he said "I'll see what I can do to get the price for you". I knew that I wasn't willing to deal with them at that point and turned and walked. The next place I went to I went 2 hours before closing on the last day of the month (I knew they'd want to get that extra sale for the month's quota). I told them the MAX price I was willing to pay...my "out the door price" and that they would have to figure out how to make the math work. They came back with the price plus all these added fees that totalled up to a couple extra grand. I pushed the sheet back and told them I already told them my max price and I would not go higher. He said he couldn't budge so I got up, thanked him for his time and turned and began to walk out. Suddenly he was able to go back to his manager to "see what he could do". He came back a few minutes later and told me the good news, that he could knock $1000 off. I told him that still didn't work and I reminded him that I WANTED the car and I didn't NEED the car and that my max was NOT going to change. He went back again and came back about 10 minutes later...it was now less than 1 hour to closing...and they had removed a few more fees but the final price I was to pay was still higher than my max. I pointed to the final cost line and told him "Do whatever you have to to make THIS line my price and we have a deal but I'm NOT paying anything above that". He went back again and about 15 minutes later he came back and my number was there with no other numbers for all the assorted fees and taxes. He said he convinced his manager and now we just needed to sign so we could take it to the financing department. I told him that it was not required and pulled out a cashier's cheque for the full amount and said I'll take it. He was NOT pleased and I knew they had only lowered the price expecting to make it up in financing fees. In the end I got the exact car I wanted for the exact price wanted. I still have that car 325,000kms and 13 years later. I absolutely got my money's worth. I will get a bus pass before I take any BS from a car salesman.

[@danielmarin9075]

deserve a thumbs up even for the great sponsor )) keep up providing consumers with valuable insights

[@LuckyLopez777]

Much appreciated!

[@10mbc]

When I bought my last car, I never saw the sale lady until I took the delivery of my car. I ordered the car by phone + email, I have used the incentives for new cars in my country and payed the car all without any bull**it and overcharges. I paid the prince from the contract (received by email) and the temporary tags, I made my insurance with my own broker and all was well. Same on the previous bought car. PS: Yes, Europe, not US.

[@danstar455]

And they lie about service parts prices. Done with my CX-9 dealer. Small repair shop near does great job.

[@billnye5183]

My purchase that I made a few weeks ago was so easy because I went the smart way and went thru my own personal bank and not the stealership way 🤷🏾‍♂️ got a great deal for a good price and it was easy I’ll never go thru dealership financing again

[@jimwright4723]

Hey Lucky!! Not all those dealers that lie about price will tell the unlucky person that the real price is 34k , especially If the the customer is a canidate for financing and has a trade in- So the price will stay the same 27k but they will force the unlucky one to use dealership financing at higher rate or longer term then force add on extras and also lowball the trade in just to get to the equivalent profit range as if they sold the car for 35-35k sale price cash -- the shoppers that mention they have cash/check and no trade get ignored or the car just got a deposit to hold -

[@southerncali88]

Having learned this lesson the hard way (a long time ago). I always confirm pricing thru a written quote via email. If the dealership is not willing to give you the out the door quote thru email then avoid them at all costs(about half won’t) but some will… this will give you an idea of what they’re asking for in order for everyone to make a good profit off the car. Then always revert to their online listed msrp. In this economy, if you pay over msrp for anything you’re throwing away your money.

[@Shannon_Vlogs]

We buy almost all our cars at Carmax. Never had an issue plus we’re in & out in half the time

[@algorhythm7868]

As soon as they tell you the "real" price. Get up[and walk away.

[@robertgarza859]

What you are saying I went to buy a Mazda MX5 2008 low miles, it was advertised for 14,000 with the paper work the new updater price now was 18,000

[@haywoodmorganjr1326]

I had a very good experience with a dealership in the DFW area got the out the door price for my nephew who flew in to purchase the car with outside financing.

[@Ditronus.]

I went on a nearby Toyota dealer website to check the trade-in value of my car. I clicked the button to do it, it asked for my email and number and told me they'd show me the estimate on the next page and email them to me. So I put in my info, and the next page was a screen that said "sorry, that function is not available right now. Someone will call you." Then, for a week, I got several calls *every day*, "SIR, I SAW YOU WERE INTERESTED IN TRADING IN YOUR VEHICLE. COME ON DOWN!" I'm like, "No, I just wanted to see what you were offering for my vehicle, so I clicked the button and you did a bait and switch. Please stop calling me." After several days more of their calls, it finally ended. It reeked of desperation and trickery.

[@edstraight846]

Keep the videos coming! It's funny how even the few little haters you get are helping work the algorithm in your favor.

[@jc-iw4to]

Without Lucky, your the best. Love your opinions and information. Living in Western Pennsylvania I'll never see some of you business but that's OK. The business I'll never see, but the information is Priceless Keep it UP Brother, it will always be priceless.

[@Pekirt79]

That's why I love buying cars from Tesla and Rivian. The easiest purchases ever! 15 minutes, pay for the stated price, no shady finance guys because most of it was taken care of online before I got to the dealership.

[@alf039]

Thanks for all the awesome advise You ROCK!!!

[@clover7359]

Earlier this year I went on the hunt for a 3rd gen Tacoma. Got in touch with a dealer 1 hour away who was selling a 2022 for MSRP. I get there and there's almost $2k in mandatory add ons. I left after about 15 minutes. Found another dealer locally who was at least upfront about a $5k markup. I kept looking and finally a local dealer had a certified one that was priced right. I get there, drive it, and they gave me no hard time, no surprise costs, just a quick easy sale. I'm the type that gets bored after 6 months and gets something different, so I've been looking for something else but these prices are looney tunes with interest rates ballooning and a recession right around the corner. I won't be buying anything until prices at least somewhat resemble 2019 levels. I might be stuck with my beater accord for years to come, but oh well.

[@stevornrichards1380]

So the honest dealer didn't get a sale and the shady one was cheaper than the honest one.

[@matta.5363]

I've had three good experiences buying cars at Carmax in Greenville, SC. The price is what they say it is and their cars are always in excellent condition. ( I don't work for them).

[@OperationDx1]

So you get it. See a used car online for $5800 walk in thinking you are going to finance a lone for 6K then walk out owing the bank 21K. You're damn right we hate the dealers.

[@scottr2706]

An auto loan for $6,000 which ultimately totals $21,000 over 60 months would require an interest rate of about 70 percent. The highest used car interest rates would be no more than 29 percent which results in total amount of about $11,400. Even deep subprime borrowers (those with credit scores of 500 or less) should have an interest rate of around 21 percent. Outside of BHPH used car dealers it is the banks, not the dealer, who sets the interest (buy) rate. Dealers may bump this rate a bit, often by 2 percentage points.

[@OperationDx1]

@@scottr2706 This is exactly what happened to me. The dealer added $5k to the price of the car without saying a word about it. So I ended up financing 11K for a total of 21K at subprime rates.

[@OperationDx1]

@@scottr2706 Note this happened in 2019

[@catbellinger5383]

I found a truck at power honda albany oregon 45,888.. via Edmunds.. everything I wanted, paying cash! Confirmed the price with the dealership. I buy my plane tickets to Oregon. 2 days later I receive a text, the dealer says they have to sell it to me for 51k.. outraged yes!! I didn’t buy the truck!!

[@keiths1]

Thanks for the explanation, and yes, we've all ween it. I live in UT, but I would be willing to drive to LV to get a black and white "Panda Deal". When will you be open for business? I was at a dealership in SLC, UT once looking at a truck. I asked for an "out the door price", and they said "We will work up the price if an only if you will sign this paper that says [If the price we offer is at or below your personal budget (indicate on this line what your personal budget it), you promise to buy the car today, and if you don't buy it, we will fine you $1000.]" I had no idea what that paper was all about, or what legal power it actually had behind it, but I just said "Hard Pass, see you later". As I was leaving, the sales rep was calling to me across the dealership floor saying "I have 10 more people coming to look at this truck today, your loss", and I was thinking how embarrassing is this for the employee to be behaving this way. Shady business practices put sales reps in a corner to act equally shady, even if they wanted to be upfront and honest.

[@Mr392Scat]

Yeahhh shout out from Utah as well!

[@azlife4me]

Good luck with the new dealership.

[@nycarpenter]

90% of the general public have anxiety attacks, just thinking about going to a car dealerships.. The dealers know this, and exploit the fact that you want to get the he'll out asap. Never let the dealer take control of your deal. The buyer holds all the cards unless you allow otherwise!

[@BrianBetron]

I hate going to dealers. Each time I go to dealers in S Florida the price was low balled.

[@davidcardinal9900]

Ha, you hit this perfectly! I got almost the same numbers for a recent car. I had used TruCar to buy a prior new car and it was great. I was looking for a used car this time and went through Truman, I got guaranteed price of $27k, wife went down and it was $32k when I got there for stupid things like glass etching. Ocean Honda in Santa Cruz, Ca. I would never go there or use TruCar again!

[@donteadoss]

Had my Infiniti for private sell because I’m done with luxury brands for a while in this crazy market, been shopping to try a lease for the first time, love what the Hyundai group is doing, want a Genesis eventually, went to a Kia dealer, test drove a K5 GT. I really liked it with a few exceptions. However, I noticed the dealer’s website had “call for price” before I went, which I already knew came with some bs. The Monroney had $38k, they marked it up to $49k, and estimated a lease, with quite a bit of money down, for $725-$837 a month. Inane. Went to a Hyundai dealer the next day and signed a lease on a ‘23 N-Line for exactly what I wanted to put down, at the sticker on the window, at a much, MUCH more reasonable payment for 36 months. The experiences were like night & day. It’s a shame out here but thanks for your incredible insight on this channel!

[@Flat4Power4Life]

Tell it like it is Lucky, I’m still surprised so many people don’t understand what’s happening yet.

[@LuckyLopez777]

Im trying my best. hope other dealers join the fight

[@dealsfromvirginia1773]

It appears that panda auto sales domain name is available for purchase. Perhaps you should buy it before you blast it?

[@Soh90]

Lucky, your recent sponsors shout outs have been hilarious 😂😂

[@MiggyFawkesy]

Got my current car at carmax with 20k miles, full manufacturer warranties intact, fully upgraded and for half the price of a brand new one. My experience was a breeze buying it. Never going to a dealer again and I sing its praises to everyone.

[@TheJoshThatPlaysDrums]

That’s cool that it worked out for you like that. I am in the market and have my eye on CarMax because of the no haggle pricing. The only reason I haven’t gone down there yet is their prices are a bit pricy, but it’s most likely the market to blame so I’m hoping things will cool down and I can try them out.

[@melissachartres3219]

Fantastic! Glad to hear that you had a good experience. How long did it take you to receive a registration and then the title?

[@aphonictx8293]

100% would buy from a dealer like this over the big advertised dealers ones that pull this crap. Would even pay $1000+ more. Rather support an honest business than the shady ones. Now if you can figure out how to get the time "in dealership" below an hour, would pay even more.

[@jgal1231]

A-1 channel ... always look forward to your latest content.

[@LuckyLopez777]

thanks 😁👍

[@Moped_Mike]

Idk how you ended up leasing/buying a property without knowing if it was zoned for auto sales. If it’s a lease I’d just walk away with that and tenet, and if you bought I just can’t believe you didn’t know….

[@MikiCab1]

2012 I went to 3 Toyota dealers to buy a Prius. None of the dealers would tell me the out the door price. They all wanted to sell me a monthly price. I ended up buying a used car craigslist.

[@brotherdekaka]

It happened to me at midtown kia in tulsa Oklahoma, I saw the car,I doubled asked about the price,when I went to buy it cash they started by bringing a new version of it with 7k on top of my car,I just left dealership with my money

[@thiborz]

Lucky, I'm in sales, and I agree with you bro. Let me know if you expand to Florida.

[@THX5000]

"Salesman" is a job for people with zero skills and no morals. Real men work a real job.

[@cesarquintana4596]

Great Channel Lucky. I grew up lower income. My business has really taken off in the last 4 years. My dream car was always a brand new Audi A8 blue with brown interior. The dealership told me they could order it and it would come in a few weeks. When I arrive they told me it would take 6 months to a year. I almost let myself get closed on a different car. I’m still looking for a blue Audi A8 lol.

[@kathykaura7219]

I carfax the crap out of every car I look at. I look at how often they change the oil (I know every oil change doesn't show up on the report) but longer service histories have a better chance of me buying the car; how many owners; how long each owner held the vehicle, where the car was registered each year (this shows up on one of those car check reports, I forgot which).....Auto Check also has a free flood risk check you can do by putting in the vin#.

[@bryanfugate2272]

Lucky: Great video, sorry to hear you are having such a problem with the City.

[@Nodan357]

This drives me insane as well. I'm a dealer in Canada and many provinces have consumer protection laws that are supposed to make it illegal to charge more then the advertised price. Yet every dealer does it and they don't actually enforce the law.