Sales lady from Hyundai downtown Los Angeles wanted me to give her my SS on the phone when I requested a quote for both my trade and the new car, I mentioned to her that I knew what my score was she changed the tone on her voice and almost immediately hang up on me , so no stars no thumbs up for this dealer and specially for her
I left a comment on Zach and Ray's video too but Kimberly I wanted to sincerely thank you for helping save my family THOUSANDS on our vehicle purchase! I studied all of your videos, did the Deal School 3.0 stuff with everyones advice printed out in a binder. Going somewhere else first for a loan pre-approval is what made the dealership really WORK for our business, beating our rate from USAA by almost two percent! They refused to budge until we slid the USAA paperwork over to the finance manager. Now we have an amazing Subaru Ascent to comfortably transport my service dog and got a great deal, thanks to all of you and your free resources! 🙏🎉🎉🎉
Pretty much all the non-OEM (aftermarket) dealer add-ons to vehicles are low-value garbage at a premium price. I just refuse to pay for any of them, nor do I even want them installed on my new vehicle (example - any tint they put on vehicle I will have to pay to have stripped off in order to install the ultra-premium heat-reflective film I prefer on my vehicles). If it isn't an OEM accessory that is available on the manufacturer's website builder/pricing tool, then I don't want it (& even then I don't want certain OEM accessories or packages).
I've been taking notes for the past 6 months, studying like I'm taking a college entrance exam! My notebook is as thick as a bible. I've watched hundreds of videos. I think I'm ready. I'm planning to purchase in December. Her videos are VERY HELPFUL!
Thanks for this great video. As I understand things, the "tied selling" is a violation of FTC regulations. Is that correct? Should a buyer make sure that the finance officer is aware of being reported to the feds?
There needs to be more consumer protection laws. I think at the end of the day it would be better for both sides. Many people don’t have the skills, experience or wherewithal to negotiate this. It’s so toxic and adversarial that both sides rightly assumed they are being screwed. Not the best way to make the second biggest purchase of your life.
I walked from a dealer today. The finance manager literally admitted he was the bait and switch person and the agreed upon $22,800 price wasn't happening unless i bought a $4000 wheel warranty. They basically lied about the price of the car. So i walked.
I worked a really good deal on a Mazda lease. An agreed upon out the door price. But in anxious about the finally test drive and pick up because I have a feeling this will happen
I really like your content!! There are many tips and tricks that help us deal with the salesperson, but the finance office still is more mysterious. Thanks for your videos!!
I bought a lot of cars. I always conduct my due diligence before I sign anything. Honestly, I have never experienced any real issues buying a car. Most of the time, I buy the vehicle service contract (depending on the price), and 85% of the time, I use the warranty. These new cars have a lot of technology and it's not cheap to fix.
I was going to put a deposit on a 4Runner due in next month Until they wanted me to send money plus fill out and send ok to pull my credit I said until I see car, get out-the-door price there will be no need for them to pull my credit So they declined and I said fine
The Nissan dealer tried to push that "buy products and I'll lower your interest rate". He called it an "interest reduction program". Who made that up? The finance manager for sure. Tried to get her to buy a paint protection plan for $1500. I was sitting there with her, and said NO! Of course, he'd marked up the interest rate anyways, so he was trying to substitute selling a product for the loss income in going back to the buy rate. Of course, the paint protection plan would have been a lot more than the shift in buy rate.. We did WALK OUT of the finance office when I told him I'd never heard of such, but the GM caught us before we left (I'm sure he'd dealt with this before). In the long, it was end of month, they needed a sale, and we got the lower interest rate without buying anything else. Still not sure if it was the buy rate or not, but she got the car she wanted!
I've ran into the situation where there was a slightly high (11.99%) with an 800 credit score, and equity in the vehicle being traded in (trade balance was $20,000). Finance manager played dump when I asked about the buy/sell rate. I kept arguing that that seemed high. Only reason I agreed in the end was that I would have lost a $3,000 finance rebate thru the manufacturer (FCA/Stellantis/Santander). I knew the finance manager had marked up that loan, but I could never prove how much. As soon as I got the account #, I paid off the loan (Credit union offered 2.9%). What ever incentive the dealer THOUGHT they were getting on that deal went into smoke ({and I'm sure they incurred a chargeback).
Please, could you do a video about down payment vs. first payment. A trick some FI officers try to use is after you negotiate everything, they come and say the first payment is due today (besides the down payment). Is that correct? Does that apply for Leasing or Financing? I know financing should be a “post month” payment, but I am not sure about leasing. Thank you so much!!
Hi & Thank You! @oliver.13 You'll often find "first payment due" the day you sign = on Leases unless there's an incentive running to waive it. Financed purchases however, usually default to 45 days out to first payment due. The Lease or Bank Contract will always tell you when your first payment is due. ✅Be sure to check the bottom line of your contract to the bottom line of your Purchase Order and that your down payment is disclosed accurately. Great question and I'll include it in an upcoming video!
I got taken for a ride once without being knowledgeable. At a finance office at Toyota of Tampabay once, the finance manager told me that the bank would not approve me without the extended Warranty.
Not always unfortunately. Offered cash for a Yukon and they marked it up $3k and we both mutually agreed to discontinue negotiations. 😂 it was on the lot for 121 days 🤷♂️
@@mz8393 Try not to tell salespeople that you're paying cash until you have an out-the-door offer in writing. Paying cash ruins their chances to make money off selling you a loan, so they will stop negotiating with you as soon as you tell them.
Hi Kimberly, we recently bought a new vehicle and we were supposed to have our first payment deducted on my bank account last week but it wasn’t reflected yet. I called the bank and they said no account was made by the dealership that I bought from. Does this really occur? I’m still waiting for the email from the dealership regarding this matter.
I co-signed for my sister in 2017 on a brand new Toyota Camry. I think the interest rate was 1.9 or 2.49% gosh I don’t remember and the finance guy was insistent about the buy products I think it was $3,000. He lowered the rate 0% finance if we took the product. Was this not a good idea?? We took the deal…
I recently looked at a BMW motorcycle. I told finance guy that I was going to use BMW finance services. He immediately tries to persuade me to use their 'in house' finance. I walked. lol
Kimberley I'm new at using TH-cam and not exactly sure how this all works. I'm not sure if you actually see these comments, and/or if you actually respond to them. I have a number of disabilities and if there is anyway possible, I would like to speak to you directly a out the unique challenges this will create for me in buying a car. So hopefully you will see these comments and will be able to get back to me. Your assistance would be greatly appreciated. Thank you, Paul
Good question. I wondered about that too. I do know that dealers should provide a checklist of things that they go over on used vehicles, even if it's an item that might need some attention in the future. If it's not attached to the vehicle, it should be available in the dealership for customers to see. If no such list exist, I wouldn't touch it. It's only then I would ask for one to be performed.
Is it necessary to fill out another credit application at the dealer if you’ve already been approved for a loan through your bank? The dealer I went to said I needed to fill one out and they would submit it to my bank.
Sales lady from Hyundai downtown Los Angeles wanted me to give her my SS on the phone when I requested a quote for both my trade and the new car, I mentioned to her that I knew what my score was she changed the tone on her voice and almost immediately hang up on me , so no stars no thumbs up for this dealer and specially for her
leave a bad yelp review i live next to there i will do one .
I left a comment on Zach and Ray's video too but Kimberly I wanted to sincerely thank you for helping save my family THOUSANDS on our vehicle purchase! I studied all of your videos, did the Deal School 3.0 stuff with everyones advice printed out in a binder. Going somewhere else first for a loan pre-approval is what made the dealership really WORK for our business, beating our rate from USAA by almost two percent! They refused to budge until we slid the USAA paperwork over to the finance manager. Now we have an amazing Subaru Ascent to comfortably transport my service dog and got a great deal, thanks to all of you and your free resources! 🙏🎉🎉🎉
Oh my gosh I'm so proud of you! @CrystalSully and big congrats on your new Subaru! Great work!! 💪💥
Pretty much all the non-OEM (aftermarket) dealer add-ons to vehicles are low-value garbage at a premium price. I just refuse to pay for any of them, nor do I even want them installed on my new vehicle (example - any tint they put on vehicle I will have to pay to have stripped off in order to install the ultra-premium heat-reflective film I prefer on my vehicles). If it isn't an OEM accessory that is available on the manufacturer's website builder/pricing tool, then I don't want it (& even then I don't want certain OEM accessories or packages).
These tips are gold. I’m buying a car tomorrow and I’m so scared lol
I've been taking notes for the past 6 months, studying like I'm taking a college entrance exam! My notebook is as thick as a bible. I've watched hundreds of videos. I think I'm ready. I'm planning to purchase in December.
Her videos are VERY HELPFUL!
Thanks for this great video. As I understand things, the "tied selling" is a violation of FTC regulations. Is that correct? Should a buyer make sure that the finance officer is aware of being reported to the feds?
👍 💯
There needs to be more consumer protection laws. I think at the end of the day it would be better for both sides. Many people don’t have the skills, experience or wherewithal to negotiate this. It’s so toxic and adversarial that both sides rightly assumed they are being screwed. Not the best way to make the second biggest purchase of your life.
I walked from a dealer today. The finance manager literally admitted he was the bait and switch person and the agreed upon $22,800 price wasn't happening unless i bought a $4000 wheel warranty. They basically lied about the price of the car. So i walked.
I worked a really good deal on a Mazda lease. An agreed upon out the door price. But in anxious about the finally test drive and pick up because I have a feeling this will happen
I really like your content!! There are many tips and tricks that help us deal with the salesperson, but the finance office still is more mysterious. Thanks for your videos!!
I bought a lot of cars. I always conduct my due diligence before I sign anything. Honestly, I have never experienced any real issues buying a car. Most of the time, I buy the vehicle service contract (depending on the price), and 85% of the time, I use the warranty. These new cars have a lot of technology and it's not cheap to fix.
I was going to put a deposit on a 4Runner due in next month
Until they wanted me to send money plus fill out and send ok to pull my credit
I said until I see car, get out-the-door price there will be no need for them to pull my credit
So they declined and I said fine
Hi Kimberly… I we get a video on leasing; specifically negotiating price?
The Nissan dealer tried to push that "buy products and I'll lower your interest rate". He called it an "interest reduction program". Who made that up? The finance manager for sure. Tried to get her to buy a paint protection plan for $1500. I was sitting there with her, and said NO! Of course, he'd marked up the interest rate anyways, so he was trying to substitute selling a product for the loss income in going back to the buy rate. Of course, the paint protection plan would have been a lot more than the shift in buy rate.. We did WALK OUT of the finance office when I told him I'd never heard of such, but the GM caught us before we left (I'm sure he'd dealt with this before). In the long, it was end of month, they needed a sale, and we got the lower interest rate without buying anything else. Still not sure if it was the buy rate or not, but she got the car she wanted!
So essentially what they lose on interest will be made up for XD
I've ran into the situation where there was a slightly high (11.99%) with an 800 credit score, and equity in the vehicle being traded in (trade balance was $20,000). Finance manager played dump when I asked about the buy/sell rate. I kept arguing that that seemed high. Only reason I agreed in the end was that I would have lost a $3,000 finance rebate thru the manufacturer (FCA/Stellantis/Santander). I knew the finance manager had marked up that loan, but I could never prove how much. As soon as I got the account #, I paid off the loan (Credit union offered 2.9%). What ever incentive the dealer THOUGHT they were getting on that deal went into smoke ({and I'm sure they incurred a chargeback).
Please, could you do a video about down payment vs. first payment. A trick some FI officers try to use is after you negotiate everything, they come and say the first payment is due today (besides the down payment). Is that correct? Does that apply for Leasing or Financing? I know financing should be a “post month” payment, but I am not sure about leasing. Thank you so much!!
Hi & Thank You! @oliver.13 You'll often find "first payment due" the day you sign = on Leases unless there's an incentive running to waive it. Financed purchases however, usually default to 45 days out to first payment due. The Lease or Bank Contract will always tell you when your first payment is due. ✅Be sure to check the bottom line of your contract to the bottom line of your Purchase Order and that your down payment is disclosed accurately. Great question and I'll include it in an upcoming video!
Omg I had this question. They’re trying to trick me haha
Thanks Kimberly. Information so good, I am going to watch it twice. 👍
Excellent tips and content as always. Still keeping an eye out for that live. Best wishes on the growth of your channel!
Hello Kimberly, great video! Can you do a video on the proper way of trading a car in with a loan still with the finance company. Thanks!!
I got taken for a ride once without being knowledgeable. At a finance office at Toyota of Tampabay once, the finance manager told me that the bank would not approve me without the extended Warranty.
I appreciate you sharing your knowledge! Thank you❤
Thank you, all good info!
Great info, thanks so much. Will be helpful as I’m in the shopping process now for a car.
Great advice. Thanks for sharing.
Being a cash buyer dodges so many of these problems.
Not always unfortunately. Offered cash for a Yukon and they marked it up $3k and we both mutually agreed to discontinue negotiations. 😂 it was on the lot for 121 days 🤷♂️
@@mz8393 Try not to tell salespeople that you're paying cash until you have an out-the-door offer in writing. Paying cash ruins their chances to make money off selling you a loan, so they will stop negotiating with you as soon as you tell them.
They can floor plan that Yukon to indefinitely, until bankruptcy@@mz8393
@@mz8393did you negotiate in person or email ?
@@mz8393 The other option is to accept financing, make sure that there is no prepayment penalty, and then pay off the loan right away.
Very helpful information! Thank you
Do you need a PPI for new cars? This content is so helpful
Thank you for this information
In Florida you cant even get tags until everything clears even insurance
Hi Kimberly, we recently bought a new vehicle and we were supposed to have our first payment deducted on my bank account last week but it wasn’t reflected yet. I called the bank and they said no account was made by the dealership that I bought from. Does this really occur? I’m still waiting for the email from the dealership regarding this matter.
Love your video. If the finance person agrees, is it ok to video record the transaction.
Good afternoon! What is your opinion of 1st automotive extended warranties?
I co-signed for my sister in 2017 on a brand new Toyota Camry. I think the interest rate was 1.9 or 2.49% gosh I don’t remember and the finance guy was insistent about the buy products I think it was $3,000. He lowered the rate 0% finance if we took the product. Was this not a good idea?? We took the deal…
Good stuff.
6:33 that happened to me when I bought my 2013 Cruz’s
5:53 what if mine is not good but my co-signer has AMAZING CREDIT and almost 7 digit income?
I recently looked at a BMW motorcycle. I told finance guy that I was going to use BMW finance services. He immediately tries to persuade me to use their 'in house' finance. I walked. lol
Let’s hope these new ftc rules pass
Car dealers are scumbags period. Make sure you know the buy rate and don’t pay more
Kimberley I'm new at using TH-cam and not exactly sure how this all works. I'm not sure if you actually see these comments, and/or if you actually respond to them. I have a number of disabilities and if there is anyway possible, I would like to speak to you directly a out the unique challenges this will create for me in buying a car.
So hopefully you will see these comments and will be able to get back to me.
Your assistance would be greatly appreciated.
Thank you,
Paul
Does one need a Pre Purchase Inspection on a CPO vehicle?
Good question. I wondered about that too. I do know that dealers should provide a checklist of things that they go over on used vehicles, even if it's an item that might need some attention in the future. If it's not attached to the vehicle, it should be available in the dealership for customers to see. If no such list exist, I wouldn't touch it. It's only then I would ask for one to be performed.
Is it necessary to fill out another credit application at the dealer if you’ve already been approved for a loan through your bank? The dealer I went to said I needed to fill one out and they would submit it to my bank.
No, not necessary. If you are already approved through your bank for a loan, then you do NOT need to fill another loan application at the dealership
And if the dealership says, " You have to finance your loan through us." Leave and do not do business with them
No he's just trying to make his loan app quota.
I really wanted to watch this video, but someone I trust told me to just stop and leave, I hope it was a great video!
You're trusting the wrong person, all info here is sound advice. I hope you don't meet your sales quota for the month. 😂😂😂
You always make me smile! @Justise
Ever heard of a Vitu fee?
Yep! We didn't use Vitu but other platforms ✅
❤❤❤❤❤