So did you accept the 6+% APR that you negotiated initially with the help of screenshots? or Did you negotiate again after knowing the Buy Rate was 4.79%?
@@davidhenning8092 Thanks. For some reason, I am not sure where it was mentioned in your email that Ray family was reading. But anyways, congratulations:)
@@monishpawar3381 No worries at all. Actually it only took me walking out the door after asking to see the buy rate and the F/I guy saying no to resolve that little issue :)
I just wanted to say thank you. As a very shy introvert I keep putting off buying a car because the idea of negotiating scares the hell out of me. However as I keep watching these videos, I feel more and more… Breve.
In the process of buying a car rn and I can totally relate. I’m very introverted and anxious of confrontation, but there’s a first time for everything. These people are leeches.
Best quote ever “ Best time to buy a car is when you don’t need one!” I will use this on my wife. I had 3 cars all in decent/new condition with very low mileage. Wife didn’t want to buy a new car because I rarely drive anywhere and work from home.
Hi guys. You are awesome! I emailed you too but we purchased a 2020 F350 in December 2020. Diddo everything David said in his email. I had watched a bunch of your videos and long story short I think we saved at least $3500 by using your tips. This is great considering trucks are selling for top dollar. My husband (who is pretty introverted) just sat there (in awe) as we went through the negotiation and I countered on everything. When we left he said “nice job hun.” For the first time in my life I walked out of a dealership feeling like I had some power. Thank you !!!!
As a woman, I helped my friend and young single woman with her purchase. We got up and left a few dealerships due to our treatment. One salesman asked me if I was in the industry, and I said no, just educated. On the vehicle she finally purchased, we left with their best offer. Then countered less. They countered the difference. We said no, we will pass and thanked them. 20 minutes later they called and accepted the offer. This is in Canada however your information is extremally helpful. Thank you
I do enjoy these videos. My way of thinking is that they have to sell, but I do not have to buy, and there are thousand to choose from nowadays, thanks to the internets.
Just wanted to say a quick thank you for your tips, I used them to lower the price on the 2016 Civic EX I bought and stuck to the out the door price, no service fees or service plans. It took 3 hours while they chatted by the water cooler, but I got what I went for. The original price out the door was 1 $17,324.00 from a list price of $14,232.00, and I paid $14,200.00 out the door. I feel good about it so as Ray says, "it's a good deal!"
Love your videos, but you should also do a video on shopping for financing before you go to a dealer. For example Navy CU has great rates as do other CU’s. Also you can go to banks online and research rates and cost before you step into a dealer. I always do my financing homework first, so I don’t allow them to take control of finance because I have control of my money. This would be a great video. Thanks for your hard work.
I will try to use the OTD. All the check mark for me - Single, Minority Woman 😅 The MSRP on the mazda l want is 33,945 with the numbers the salesman showed me ended up 38k plus 😆 l pointed out all the doc fees an optional fees and l said, “these need to be changed.” Then he said l can take some off but not all. l said ok and left the building. lt was Saturday so cannot wait to hear his best offer come Monday.
Adam R Thanks guys. I’ve been a member for a few months. I bought a BMW 530 in December for myself. Got a great deal! Tomorrow I’m going with my mother-in-law to get her a Honda. My kid turns 16 in December - still figuring that one. I hated the prospect of car shopping before, and now enjoy the knowledge and ability your teaching has provided. The info has been amazing - and saving my family thousands!
I have always been an empowered female car buyer. I learn about the vehicle I want, go in playing dumb (because they assume I am) then take control. I have saved thousands calling out a salesperson on “no i did not agree to that package” or “i want x thing in the car and i don’t want the upgraded y item that “comes with it” for an extra $200 - take it out of the car and put the lower grade y item back and the $200 off my invoice.” As I am contemplating the need for a minivan for family reasons, I am learning lots more with your videos. What I would love to see are some videos specifically for women. Mistakes women specifically make a salesperson hones in on like a shark. Keep up the good work!
I must say I’m the type that never leaves comments or subscribe to channels but after I heard your part on extended warranties that you say “yes well make $500” but use it as a negotiation tactic to see if you can get a better one at the dealership. I appreciate that kind of transparency and am now subscribed even if I don’t buy a car your info is very Informative. Keep it up
after divorce- knew nothing about buying a car. i was a lady who "lay down" her wallet. love your channel and now have more knowledge of what to do on the next purchase.
I also did the Lay-down, because I was young, angry with one dealership that had just threatened slow repair/service if I didn't buy from him, and didn't talk to my Pop about it, first. The next time I bought one, I took my Wife with me and after a hour of us being there, she tiredly said, "Well, we know this is the one we want so as long as they can get the payments below $300, we should stop wasting time and just buy it here." BIG mistake, and when I looked at the salesman and his bosses faces they were grinning so big it DID remind me of two sharks smiling! After that, I gave up and a 3 year old used car cost me the same price, (After financing) as the same car brand new that year.
Just made a deal for 3500 under your websites suggested offer! It’s all because of your negotiation tactics. Got top dollar for my trade in too! Thank you guys 🙏🏽
If you have cash to buy a car, this is how you do it. 1. Do your online research to know what car you want and generally how much the MSRP is for that car optioned the way you want it. 2. Go to one or two dealerships that have that car and test drive and go through all the bull crap extras (doc fees, etc). 3. Now go to the dealer you want to buy from, near your home where you want to get your service done. 4. Find the car on their lot or know which dealer has it so they can swap for it to get it to their lot. 5. Find a mature salesperson. Older means more experienced and more likely to have sway in the dealership. Someone who can recognize that you know what you’re doing and will understand that you’re serious. 6. Point them at the car you want. You don’t need a test drive, you’ve already test driven at other dealerships. Then tell them you’re going to make them one offer (which will be below their invoice price sufficient to offset all the doc fees and other fees the first two dealers informed you about), and that you will give them exactly one chance to counter offer. If you don’t like the counter offer, you leave, without a single additional word spoken. “Are you ready to hear my offer?” An experienced salesperson will understand what is happening. It’s going to be a cash deal from a buyer who isn’t subject to influence or persuasion, and the price you offer informs him or her that you’ve done your homework in depth. If they ask what you do for a living, because they might assume you’re in the business, tell them you’re a computer scientist. That will instantly give you the upper hand and imply you operate strictly on formulation and logic. You’ll have your car at a fair price that day. If you need to finance, go buy a cheap reliable used car private sale and get a loan from your bank to cover the cost.
I'm panicking that I'm going to forgot all your tips when I walk into the dealership - agh! I too would like to make my salesman and F/I guy get that ghost look!
You can also skip this entire process by getting a couple quotes from local credit unions or banks and then if the dealership can't match it you just tell them I am using outside financing. I guess you could see if they will match whatever financing you pre confirmed but that usually involves haggling over the financing rate vs. the actual price of the car. To each their own and whatever works.
When do you let them know about the loan so you can get the best price on the Vehicle so they don’t hold back? Do I just say I am unsure if I want to finance or pay cash and move from there and ask for the OTD price?
@@waitingpatiently That's what I have done. The thing is if you feel they will try and hose you if you admit you have your own financing up front don't tell them and negotiate the best price. Then once to finance just say I have my own financing.
You guys are awesome...I'm learning so much now that will help me next year when I'm looking for a pickup truck...love your videos...John from New York
Wow....I am so glad I stumbled upon these videos! I wish I knew this stuff when I got my car back in 2017 lol however, if/when I'd want to get something else I MUST use these techniques and learn from the best 😄😊
I compiled one after watching all these videos. Take notes , like back in school. Plus, they don't delete these videos so you can watch them over and over and revise the notes.
Love it. Sounds like David got a great deal. 7% loan rate is ridiculous! Federal Funds rate is 0.25% (interest rate banks charge each other for loans). My credit union in CA (CA typically has higher rates) is offering 2.69 for 60 month new car loan (20% down with 720+ credit score). I think David got a great deal but does 4% sound high?
In Texas the dealership can add 2 points to your APR. I am glad y'all are explaining how car sales work and how to negotiate. Lot's of details learned and will be used!
Ray, the auto industry has given you and your family a lot. No need to disparage it and dealers deserve to make a profit too. I buy a lot of cars and always like to leave some meat on the bone.
No one, especially this Ray guy, is disparaging All of us get it, the dealership and finance guy, and sales guy need and have to make theirs What the problem is not just getting the meat on the bone, they want the whole damn cow if they can get it We all know they try and take you for every single bloody cent they can, and dont give a rat's ass. So if we can negotiate it down to a FAIR final price, that leaves that meat on the bone for them, a d gives us a good deal.. That's not disparaging, that's common sense and logic
Hi guys, I just discovered your TH-cam site and it is highly engaging and interesting. I am from Canada though and I wish to find out if you are also fully aware of the pricing and any government discount we have here that we can be negotiating for?
Hey guys, thanks for the informative videos. Quick question about the buy rate. How much % over the buy rate if any is "fair" amount (%) to pay over the buy rate?
Your videos are great. Now in my area all the dealers today are not going below the MSRP. Some are adding a market adjustment charge of $5500 to $12,000. Crazy! Obviously I'm going to the dealers that don't charge the MAC. The one I'm talking with is not charging the market adjustment but of course is charging the dealer prep, dealer install, tax, Tag & title, & government fees which they say is part of the tag agency fees. They won't budge on the MSRP nor the dealer install price. Is anything else that I would be able to do for today's dealer dealings? They seem to be selling the cars about as soon as the truck drops them off & all the other dealers near by are charging the Market adjustment upcharge.
The warranty thing reminds me when I bought a car last time during the talk about warranty when he tried to sell it I said "I'm buying a Honda because I tshouldn't need warranty since they're so good"
I start at invoice price and go up, if dealer doesn't want. to fine I walk! Basicly I want to haggle over dealer profit. I have limit for a car I like or one I want!
RAY , received my 1st COVID-19 shot yesterday , LUVD IT , actually going back for another 1 in 2 weeks , LOL , No Problems ...... April 18 2nd one ..........
@@CarEdge Thanks Ray , im sure it will be A OK ! & i have to say u are Looking so much REFRESHED , here lately , I can see ZACH worries & Takes Excellent care of you !
Here in Alaska, if you want a new car, you're pretty much gonna pay MSRP. I've tried offering less than invoice, invoice, more than invoice, they don't care here. There's no competition. You can wait for the next model year to roll in and you might get 2 grand off on last year's models, and if you're buying domestic you might occasionally get big rebates, but you can forget negotiating off MSRP. They don't seem to budge on fees or interest rates either although I have experienced them negotiating a little off service contracts. Used is a different story however.
Hi, great videos. Turns out I do most of the right things. I’m a very shrewd buyer, I make my demands and walk if they don’t deliver. Here’s the catch, with Covid and the “chip shortage” they now all have “market adjustment” added into the price. When I get to that, they mostly say we can’t do anything about that. What is your experience and how should that be handled? Thanks
Single woman here. Can I use some of the 7 lessons on the pre-owned vehicle I'm thinking of purchasing? Which ones, if any? Also, the extended warranty? Because there isn't a warranty on the 2016 Lexus. Of course, they have already added their initial markup on the dealer price. Now, they are asking $2,000 for transfer fees and $2,000 for dealer fees!
I didn't get the part where you said he came back on Monday and asked for bank approval document? What happened there? And then he went on to talk about VSC?...?
Hi there! Im new here but have been researching car buying for 5 months. Watching your videos for a few weeks and feel I am ready to negotiate confidently. Questions: Can I still negotiate a car that I put a deposit down once it gets here? Should I have negotiated the price entirely before I signed the deposit form? If so, how can I remedy this? Should I call today to ask them to discuss the terms again? I didnt custom order a car. I put a deposit down on a new CRV that is already on the way. Expected to be here late June/Early July. Of course they said the price on the signed agreement can change because of fluctuating prices. I plan on dropping any extra protection fees and dealer accessories they offer, which will save me 3 thousand. They told me I am allowed to do that. I am also allowed to put that deposit towards any other vehicle new or used they have on the lot should I change my mind, otherwise I fortfit the nonrefundable deposit.
Just throwing a video idea for you. Go to a real dealer live with a viewer that is looking to purchase and capture Howe it goes live! Maybe hold a contest.
Thanks you’re bringing negotiation to the table and finer points when buying a car, I applaud both of you for that. One thing I might add would be to visit a couple of dealers to see if the pricing is the same an if they have the car or can get it in a reasonable time. The last 2 cars I have bought (209 Honda CR-V and 2017 Toyota RAV4) I got on Kelly blue book and asked for quotations. I got about 20 emails and a couple actually had prices. I concentrated on those dealerships and was able to buy the car I wanted at a price that I was happy with. I have only purchased one car on time, because I needed to establish credit. It was a 6 month loan that cost me $43.00 (I paid it after 4 months, I didn’t like doing this). Setting up a budget to plan for a new car sale is usually a better approach, you should talk about this. I have purchased 22 cars in the last 55 years, and you learn this process in time. We are a 3 car family (only 2 at home). In the 60’s the cars were higher maintenance, more repairs and didn’t last as long. Each decade the cars got better. Today there are brands that are better than others. If you trade/lease your cars every 3 years or so, with average mileage (15k miles or less per year) you can buy almost any car! If you plan keeping a car for 6+ years or longer and start going over 100k, there are many cars that will not last that long (on the average). Late 90’s till 2009 l drove Honda’s and I learned on a curve. My first Honda was a 92 Civic Si, purchased used with 22,000 miles for $5500 (salvage title), I sold with 137k (ody was starting to rust over the wheel wells) for $1900. After this mileage went up 167k, 179k, etc they were very reliable. Before the Honda’s I was always fixing something (GM and Ford), with the Honda’s I drove and maintained only, very few repairs.I still drive the 2009 Honda CR-V, it has 121k and have only done maintenance. The Toyota RAV4 has 52k and has only had oil changes and filters. I won’t buy a Honda with a small engine with turbo and CVT transmission. Sorry to be so runny, comes with time. Thanks...Jim
Please consider offering monthly payments on your extended warranties. We’re paying interest if we use a credit card to buy one so what’s the difference?
I been watching all the videos lately glad I found this channel to give me a bit of confidence. One thing I haven’t seen / need to look for is the benefits for co signing. How much does it help. Looking into a 2021 Toyota Tacoma off road. So any leverage helps. My credit is 700. But my father is perfect Credit. Please reply or make video! Thank you guys.
We're in the same boat! Keep me updated and congrats on your future truck! I'm leaning towards the cement grey, but the army green would look good with bronze wheels
Question. Is the buy rate even important at all if you use the "pay off the loan in 2 weeks" strategy? I plan on putting half down then pay off the balance in a couple weeks. Does the dealer still make "thousands" upselling if if i pay off loan in the 1st month?
Yeah this would only make sense if you get like "5k off msrp if you finance through us" then you have to check if they have an early payout penalty. THATS about the only time I would do that. Harm your credit score for a couple gs off. Sure why not.
Hi guys, can you tell me if a dealer disposition fee is even ethical? Charging me up to 400.00 to literally force me to buy a vehicle loyalty even if I don't want to buy from them or stay with that brand.
Local dealer is offering discount of double your stimulus off price on new and used vehicles. I didn't get a stimulus cause my income was too high so I called talked to sales manager about that. He didn't have an answer and wanted to know all my information. I took his name and filed a complaint with the state attorney general
That offer is nothing more than a selling tactic. This dealer will sell a person who received a stimulus check a $30,000 MSRP vehicle at $2,800 off or $27,200. If a customer does not have a stimulus check the dealer will sell at $27,200 or less if that customer negotiates well. Understand everything in a dealer advertisement is designed to get a customer in the building. A dealer is not going to sell for less just because a person got a stimulus check. Unless the discount comes from the manufacturer. Never believe anything you hear or see from a car dealer.
The world of salesman seems to be a glass ceiling barrier. Why is that? I think I’ll be going with Subaru because the only lot I walked onto, out of 9 dealerships. Why is that Ray?
Okay so I'm going to be a first time buyer I found a 2014 impala 2 LTz for 11,459 is that a good price and how much should I negotiate it for?? I'm putting 4k down
Do dealerships cringe when you come in pre-approved from your credit union or your bank and don't need to finance through the dealership. Also should I tell them that before negotiating price? I'm thinking no.
I'm kinda wondering the same lol I have a new car I'm looking at and my credit union will give me the best rate. But I have a trade in. So getting pre approved I would think would be determined on the OTD price but that's also determined off the amount of trade I recieve.
Bill, bring it up in the F&I office AFTER negotiating the OTD price of the car you are buying. Tell the F&I Manager you are pre-approved and ask them to "beat it" -- that's the best way to approach it. Thanks for tuning in!
Yeah, they'll cringe, but having that relationship with your credit union could be the best decision at the end of your OTD negotiations. It's important to be comfortable enough with your lender to ask questions. Good luck!
WOW, I got the Ray Stamp of Approval. My life is now complete :) 7,7,7 for life. 7 lessons learned, 7k saved over 7 days.
So did you accept the 6+% APR that you negotiated initially with the help of screenshots? or Did you negotiate again after knowing the Buy Rate was 4.79%?
@@monishpawar3381 I got the 4.79 once I asked them for the actual BUY rate :)
@@davidhenning8092 Thanks. For some reason, I am not sure where it was mentioned in your email that Ray family was reading.
But anyways, congratulations:)
@@monishpawar3381 No worries at all. Actually it only took me walking out the door after asking to see the buy rate and the F/I guy saying no to resolve that little issue :)
Now the most important question - do you go by Dave or not?
I just wanted to say thank you. As a very shy introvert I keep putting off buying a car because the idea of negotiating scares the hell out of me. However as I keep watching these videos, I feel more and more… Breve.
Feel the same 👍🏼
In the process of buying a car rn and I can totally relate. I’m very introverted and anxious of confrontation, but there’s a first time for everything. These people are leeches.
Wow...Thank you. I was that single women that walked in the door and knew I had to do research to empower myself. Thank you
Enjoy to see this Father and son relationship working together, respect from the son and the nurture from the loving father😊
Best quote ever “ Best time to buy a car is when you don’t need one!” I will use this on my wife. I had 3 cars all in decent/new condition with very low mileage. Wife didn’t want to buy a new car because I rarely drive anywhere and work from home.
Hi guys. You are awesome! I emailed you too but we purchased a 2020 F350 in December 2020. Diddo everything David said in his email. I had watched a bunch of your videos and long story short I think we saved at least $3500 by using your tips. This is great considering trucks are selling for top dollar. My husband (who is pretty introverted) just sat there (in awe) as we went through the negotiation and I countered on everything. When we left he said “nice job hun.” For the first time in my life I walked out of a dealership feeling like I had some power. Thank you !!!!
As a woman, I helped my friend and young single woman with her purchase. We got up and left a few dealerships due to our treatment. One salesman asked me if I was in the industry, and I said no, just educated. On the vehicle she finally purchased, we left with their best offer. Then countered less. They countered the difference. We said no, we will pass and thanked them. 20 minutes later they called and accepted the offer. This is in Canada however your information is extremally helpful. Thank you
I do enjoy these videos. My way of thinking is that they have to sell, but I do not have to buy, and there are thousand to choose from nowadays, thanks to the internets.
Just wanted to say a quick thank you for your tips, I used them to lower the price on the 2016 Civic EX I bought and stuck to the out the door price, no service fees or service plans. It took 3 hours while they chatted by the water cooler, but I got what I went for. The original price out the door was 1
$17,324.00 from a list price of $14,232.00, and I paid $14,200.00 out the door. I feel good about it so as Ray says, "it's a good deal!"
Boom!! Nice!! I'm next my man wish me luck!!
how did you get 5 grand off lol
Love your videos, but you should also do a video on shopping for financing before you go to a dealer. For example Navy CU has great rates as do other CU’s. Also you can go to banks online and research rates and cost before you step into a dealer. I always do my financing homework first, so I don’t allow them to take control of finance because I have control of my money. This would be a great video. Thanks for your hard work.
I will try to use the OTD. All the check mark for me - Single, Minority Woman 😅 The MSRP on the mazda l want is 33,945 with the numbers the salesman showed me ended up 38k plus 😆 l pointed out all the doc fees an optional fees and l said, “these need to be changed.” Then he said l can take some off but not all. l said ok and left the building. lt was Saturday so cannot wait to hear his best offer come Monday.
I haven't watched your videos in a while. I smiled when you said "Everything that's taxable is negotiable".
Adam R
Thanks guys. I’ve been a member for a few months. I bought a BMW 530 in December for myself. Got a great deal! Tomorrow I’m going with my mother-in-law to get her a Honda. My kid turns 16 in December - still figuring that one. I hated the prospect of car shopping before, and now enjoy the knowledge and ability your teaching has provided. The info has been amazing - and saving my family thousands!
I have always been an empowered female car buyer. I learn about the vehicle I want, go in playing dumb (because they assume I am) then take control. I have saved thousands calling out a salesperson on “no i did not agree to that package” or “i want x thing in the car and i don’t want the upgraded y item that “comes with it” for an extra $200 - take it out of the car and put the lower grade y item back and the $200 off my invoice.” As I am contemplating the need for a minivan for family reasons, I am learning lots more with your videos. What I would love to see are some videos specifically for women. Mistakes women specifically make a salesperson hones in on like a shark. Keep up the good work!
Do more videos on success stories!
I must say I’m the type that never leaves comments or subscribe to channels but after I heard your part on extended warranties that you say “yes well make $500” but use it as a negotiation tactic to see if you can get a better one at the dealership. I appreciate that kind of transparency and am now subscribed even if I don’t buy a car your info is very Informative. Keep it up
after divorce- knew nothing about buying a car. i was a lady who "lay down" her wallet. love your channel and now have more knowledge of what to do on the next purchase.
I also did the Lay-down, because I was young, angry with one dealership that had just threatened slow repair/service if I didn't buy from him, and didn't talk to my Pop about it, first. The next time I bought one, I took my Wife with me and after a hour of us being there, she tiredly said, "Well, we know this is the one we want so as long as they can get the payments below $300, we should stop wasting time and just buy it here." BIG mistake, and when I looked at the salesman and his bosses faces they were grinning so big it DID remind me of two sharks smiling! After that, I gave up and a 3 year old used car cost me the same price, (After financing) as the same car brand new that year.
Just made a deal for 3500 under your websites suggested offer! It’s all because of your negotiation tactics. Got top dollar for my trade in too! Thank you guys 🙏🏽
I love your response Ray when Zach said you can bleep in videos and not in the live stream!!!
If you have cash to buy a car, this is how you do it.
1. Do your online research to know what car you want and generally how much the MSRP is for that car optioned the way you want it.
2. Go to one or two dealerships that have that car and test drive and go through all the bull crap extras (doc fees, etc).
3. Now go to the dealer you want to buy from, near your home where you want to get your service done.
4. Find the car on their lot or know which dealer has it so they can swap for it to get it to their lot.
5. Find a mature salesperson. Older means more experienced and more likely to have sway in the dealership. Someone who can recognize that you know what you’re doing and will understand that you’re serious.
6. Point them at the car you want. You don’t need a test drive, you’ve already test driven at other dealerships. Then tell them you’re going to make them one offer (which will be below their invoice price sufficient to offset all the doc fees and other fees the first two dealers informed you about), and that you will give them exactly one chance to counter offer. If you don’t like the counter offer, you leave, without a single additional word spoken.
“Are you ready to hear my offer?”
An experienced salesperson will understand what is happening. It’s going to be a cash deal from a buyer who isn’t subject to influence or persuasion, and the price you offer informs him or her that you’ve done your homework in depth. If they ask what you do for a living, because they might assume you’re in the business, tell them you’re a computer scientist. That will instantly give you the upper hand and imply you operate strictly on formulation and logic. You’ll have your car at a fair price that day.
If you need to finance, go buy a cheap reliable used car private sale and get a loan from your bank to cover the cost.
Congratulations David. Thanks for sharing your experience. Great job Zach & Ray!😁😁😁
DAVID , U should of gotten a RAY Stamp Of APPROVAL , on that 1 !!!!!!!
Haha he did, they were just a bit delayed
@@Rodrigo_xt8c2 EXCELLENT ! Brother
@@kenberan4875 IKR :) Though I believe they did give me one a lil bit into the vid :)
Thank you for letting us learn from David's experience. Your knowledge is money in my bank account
I'm so glad I found your channel right before I bought a car, I'm trying to digest all of this right now
You two are amazing and fun to watch. Great information to know. This makes car shopping much easier/better and as they say “knowledge is power “. 👍👍
Nice, Always giving the best strategies for novice car shoppers 👍👀
I'm panicking that I'm going to forgot all your tips when I walk into the dealership - agh! I too would like to make my salesman and F/I guy get that ghost look!
bring notes with you
Make notes on your phone and use them.
Bravo...its great to see all of your techniques put into action in a real world purchase! One of your best videos...concise and to the point.
You can also skip this entire process by getting a couple quotes from local credit unions or banks and then if the dealership can't match it you just tell them I am using outside financing. I guess you could see if they will match whatever financing you pre confirmed but that usually involves haggling over the financing rate vs. the actual price of the car. To each their own and whatever works.
Couldn't agree more! Always start the process where you have a good relationship, either your credit union or bank!
always now days check ur everday BANK , & if u belong to a credit union do also there , !
yup, I did do this but they were not much better than the rate I had on my current car so I just decided to see what the Dealer could offer
When do you let them know about the loan so you can get the best price on the Vehicle so they don’t hold back? Do I just say I am unsure if I want to finance or pay cash and move from there and ask for the OTD price?
@@waitingpatiently That's what I have done. The thing is if you feel they will try and hose you if you admit you have your own financing up front don't tell them and negotiate the best price. Then once to finance just say I have my own financing.
This video was one of the best and this letter was amazing.
This is fantastic!!!! I just found your channel last week and I am watching all your videos so I can learn how to properly purchase my next vehicle.
You guys are awesome...I'm learning so much now that will help me next year when I'm looking for a pickup truck...love your videos...John from New York
going to the dealership today. Binging these videos for small tips and tricks
Looking into buying a car and these videos are perfect👌 knowledge is power!
Well...I'm going to buy a used car in a couple of days maybe I could get a new car with these tips.
How did it go?
I plan on using this when I get my truck, hope later this year.
I use YAA as back ground . Zac : reading e mail from david on his car buy . you are a great story teller great voice keep what your doing
I got my 2019 Honda brand new for 13% off the MSRP (out the door). Paid $25784 (OTD) and MSRP was $29685.
Wow....I am so glad I stumbled upon these videos! I wish I knew this stuff when I got my car back in 2017 lol however, if/when I'd want to get something else I MUST use these techniques and learn from the best 😄😊
Yeah, I’m definitely investing in your website. First time car buyer (live in NYC, looking to move further out the city). It’s time.
Did you get a good deal?
@@kevinburgos2519 haven’t bought yet, looking to buy in September unless I see a super great deal
It would be nice to have a little list or a cheat sheet for us older car buyers with bad Memory
I compiled one after watching all these videos. Take notes , like back in school. Plus, they don't delete these videos so you can watch them over and over and revise the notes.
@@fernr.5675 SMART.
@@fernr.5675 exactly!,,,
You two are now in my group of subbed channels. Thank you both. Also liked your vid.
Love it. Sounds like David got a great deal.
7% loan rate is ridiculous! Federal Funds rate is 0.25% (interest rate banks charge each other for loans). My credit union in CA (CA typically has higher rates) is offering 2.69 for 60 month new car loan (20% down with 720+ credit score).
I think David got a great deal but does 4% sound high?
BOOM! Great show guys.
Amazing video and so informative! Thank you guys!!! BTW the banter you two have is the best
In Texas the dealership can add 2 points to your APR. I am glad y'all are explaining how car sales work and how to negotiate. Lot's of details learned and will be used!
Ray, the auto industry has given you and your family a lot. No need to disparage it and dealers deserve to make a profit too. I buy a lot of cars and always like to leave some meat on the bone.
No one, especially this Ray guy, is disparaging
All of us get it, the dealership and finance guy, and sales guy need and have to make theirs
What the problem is not just getting the meat on the bone, they want the whole damn cow if they can get it
We all know they try and take you for every single bloody cent they can, and dont give a rat's ass.
So if we can negotiate it down to a FAIR final price, that leaves that meat on the bone for them, a d gives us a good deal..
That's not disparaging, that's common sense and logic
Dealers make their profit in the service department. Your one day purchase is but the beginning of your relationship with the dealer.
Thank You! Your closing comment Zach made me subscribe. Great information.
Thank you for this video. I used this process the get a great deal on a car for my son and saved $$$
Love all your videos. You
two are so great to watch.
This was a great story with awesome content!
Hi guys, I just discovered your TH-cam site and it is highly engaging and interesting. I am from Canada though and I wish to find out if you are also fully aware of the pricing and any government discount we have here that we can be negotiating for?
Hey guys, thanks for the informative videos. Quick question about the buy rate. How much % over the buy rate if any is "fair" amount (%) to pay over the buy rate?
Your videos are great. Now in my area all the dealers today are not going below the MSRP. Some are adding a market adjustment charge of $5500 to $12,000. Crazy! Obviously I'm going to the dealers that don't charge the MAC. The one I'm talking with is not charging the market adjustment but of course is charging the dealer prep, dealer install, tax, Tag & title, & government fees which they say is part of the tag agency fees. They won't budge on the MSRP nor the dealer install price. Is anything else that I would be able to do for today's dealer dealings? They seem to be selling the cars about as soon as the truck drops them off & all the other dealers near by are charging the Market adjustment upcharge.
Love the video! Thank you for sharing the story and how the tools that you teach are used in every day application!
The warranty thing reminds me when I bought a car last time during the talk about warranty when he tried to sell it I said "I'm buying a Honda because I tshouldn't need warranty since they're so good"
I start at invoice price and go up, if dealer doesn't want. to fine I walk! Basicly I want to haggle over dealer profit. I have limit for a car I like or one I want!
Great video. Buy rate makes sense and is good for the customer to know. What's a fair seller rate? 1 pt markup?
Your best video yet!
When we buy coverage with you, who repairs the car if needed? still a dealer? or independent mechanic?
RAY , received my 1st COVID-19 shot yesterday , LUVD IT , actually going back for another 1 in 2 weeks , LOL , No Problems ...... April 18 2nd one ..........
Congrats Ken, I am so happy for you. Hopefully your second dose has less effect on you than it did on me. Stay safe my friend, Ray
@@CarEdge Thanks Ray , im sure it will be A OK ! & i have to say u are Looking so much REFRESHED , here lately , I can see ZACH worries & Takes Excellent care of you !
You guys Rock! Thanks for what you do!
Here in Alaska, if you want a new car, you're pretty much gonna pay MSRP. I've tried offering less than invoice, invoice, more than invoice, they don't care here. There's no competition. You can wait for the next model year to roll in and you might get 2 grand off on last year's models, and if you're buying domestic you might occasionally get big rebates, but you can forget negotiating off MSRP. They don't seem to budge on fees or interest rates either although I have experienced them negotiating a little off service contracts. Used is a different story however.
(Road Trip/Vacation)
This is helping me a lot. Thank you!
So I can use the same tools to negotiate with a dealer that is too far away to test drive, etc?
Also- point is this is on a NEW car, right?
Hi, great videos. Turns out I do most of the right things. I’m a very shrewd buyer, I make my demands and walk if they don’t deliver. Here’s the catch, with Covid and the “chip shortage” they now all have “market adjustment” added into the price. When I get to that, they mostly say we can’t do anything about that. What is your experience and how should that be handled? Thanks
All these knowledge makes me want to try buying 3cars! But I barely need one right now haha (buying in May/June)
Single woman here. Can I use some of the 7 lessons on the pre-owned vehicle I'm thinking of purchasing? Which ones, if any? Also, the extended warranty? Because there isn't a warranty on the 2016 Lexus. Of course, they have already added their initial markup on the dealer price. Now, they are asking $2,000 for transfer fees and $2,000 for dealer fees!
thanks guys.
Very awesome video! And information.
How do I know that paper that they are showing from the bank for the buy rate is the actual paper ?
Does all this knowledge about car buying apply to used cars too or is it just for new cars?
Do they have buy and sell rates in Canada as well?
I didn't get the part where you said he came back on Monday and asked for bank approval document? What happened there? And then he went on to talk about VSC?...?
I in the market looking for a 2017 used ford fusion how can negotiate a good deal
Hi there! Im new here but have been researching car buying for 5 months. Watching your videos for a few weeks and feel I am ready to negotiate confidently.
Questions: Can I still negotiate a car that I put a deposit down once it gets here? Should I have negotiated the price entirely before I signed the deposit form? If so, how can I remedy this? Should I call today to ask them to discuss the terms again?
I didnt custom order a car. I put a deposit down on a new CRV that is already on the way. Expected to be here late June/Early July. Of course they said the price on the signed agreement can change because of fluctuating prices. I plan on dropping any extra protection fees and dealer accessories they offer, which will save me 3 thousand. They told me I am allowed to do that. I am also allowed to put that deposit towards any other vehicle new or used they have on the lot should I change my mind, otherwise I fortfit the nonrefundable deposit.
Just throwing a video idea for you. Go to a real dealer live with a viewer that is looking to purchase and capture Howe it goes live! Maybe hold a contest.
Thanks you’re bringing negotiation to the table and finer points when buying a car, I applaud both of you for that. One thing I might add would be to visit a couple of dealers to see if the pricing is the same an if they have the car or can get it in a reasonable time. The last 2 cars I have bought (209 Honda CR-V and 2017 Toyota RAV4) I got on Kelly blue book and asked for quotations. I got about 20 emails and a couple actually had prices. I concentrated on those dealerships and was able to buy the car I wanted at a price that I was happy with. I have only purchased one car on time, because I needed to establish credit. It was a 6 month loan that cost me $43.00 (I paid it after 4 months, I didn’t like doing this). Setting up a budget to plan for a new car sale is usually a better approach, you should talk about this. I have purchased 22 cars in the last 55 years, and you learn this process in time. We are a 3 car family (only 2 at home). In the 60’s the cars were higher maintenance, more repairs and didn’t last as long. Each decade the cars got better. Today there are brands that are better than others. If you trade/lease your cars every 3 years or so, with average mileage (15k miles or less per year) you can buy almost any car! If you plan keeping a car for 6+ years or longer and start going over 100k, there are many cars that will not last that long (on the average). Late 90’s till 2009 l drove Honda’s and I learned on a curve. My first Honda was a 92 Civic Si, purchased used with 22,000 miles for $5500 (salvage title), I sold with 137k (ody was starting to rust over the wheel wells) for $1900. After this mileage went up 167k, 179k, etc they were very reliable. Before the Honda’s I was always fixing something (GM and Ford), with the Honda’s I drove and maintained only, very few repairs.I still drive the 2009 Honda CR-V, it has 121k and have only done maintenance. The Toyota RAV4 has 52k and has only had oil changes and filters. I won’t buy a Honda with a small engine with turbo and CVT transmission. Sorry to be so runny, comes with time. Thanks...Jim
Please consider offering monthly payments on your extended warranties. We’re paying interest if we use a credit card to buy one so what’s the difference?
Go in the last day of the year, if they need another car to make their quota you could be in a good position.
I really appreciate the input
Does this apply for leases?
Trying to negotiate a new car … they are not budging because of supply and demand
Need your help
I been watching all the videos lately glad I found this channel to give me a bit of confidence. One thing I haven’t seen / need to look for is the benefits for co signing. How much does it help. Looking into a 2021 Toyota Tacoma off road. So any leverage helps. My credit is 700. But my father is perfect Credit. Please reply or make video! Thank you guys.
We're in the same boat! Keep me updated and congrats on your future truck! I'm leaning towards the cement grey, but the army green would look good with bronze wheels
Question. Is the buy rate even important at all if you use the "pay off the loan in 2 weeks" strategy? I plan on putting half down then pay off the balance in a couple weeks. Does the dealer still make "thousands" upselling if if i pay off loan in the 1st month?
Why get a loan in the first place? Wait a month to buy it outright
Yeah this would only make sense if you get like "5k off msrp if you finance through us" then you have to check if they have an early payout penalty.
THATS about the only time I would do that. Harm your credit score for a couple gs off. Sure why not.
I got about 7 percent off the 2021 Subaru Crosstrek msrp. Was that a good deal? MSRP was 26k for a premium.
What is vfc?
If there is a manufacturer's rebate, where will it be noted?
Is this still a good method?
Great info, Zach and Pops!
Thanks Mike, we really appreciate your participation. Stay safe, Ray
Hi guys, can you tell me if a dealer disposition fee is even ethical? Charging me up to 400.00 to literally force me to buy a vehicle loyalty even if I don't want to buy from them or stay with that brand.
Local dealer is offering discount of double your stimulus off price on new and used vehicles. I didn't get a stimulus cause my income was too high so I called talked to sales manager about that. He didn't have an answer and wanted to know all my information. I took his name and filed a complaint with the state attorney general
That offer is nothing more than a selling tactic.
This dealer will sell a person who received a stimulus check a $30,000 MSRP vehicle at $2,800 off or $27,200.
If a customer does not have a stimulus check the dealer will sell at $27,200 or less if that customer negotiates well.
Understand everything in a dealer advertisement is designed to get a customer in the building. A dealer is not going to sell for less just because a person got a stimulus check. Unless the discount comes from the manufacturer.
Never believe anything you hear or see from a car dealer.
How do I add a negative review on your website
here you go: joinyaa.com/car-dealer-reviews/. All the best, Ray
The world of salesman seems to be a glass ceiling barrier. Why is that? I think I’ll be going with Subaru because the only lot I walked onto, out of 9 dealerships. Why is that Ray?
Will this work in Canada?
Does this work if you take a loan out of your bank
Okay so I'm going to be a first time buyer I found a 2014 impala 2 LTz for 11,459 is that a good price and how much should I negotiate it for?? I'm putting 4k down
Do dealerships cringe when you come in pre-approved from your credit union or your bank and don't need to finance through the dealership. Also should I tell them that before negotiating price? I'm thinking no.
I'm kinda wondering the same lol I have a new car I'm looking at and my credit union will give me the best rate. But I have a trade in. So getting pre approved I would think would be determined on the OTD price but that's also determined off the amount of trade I recieve.
Bill, bring it up in the F&I office AFTER negotiating the OTD price of the car you are buying. Tell the F&I Manager you are pre-approved and ask them to "beat it" -- that's the best way to approach it. Thanks for tuning in!
@@CarEdge Thank you for replying. Y'all do a good job explaining things. It is appreciated to find some honesty for such a cut throte industry. ✌
Yes, they do cringe. And no, don't tell them before you negotiate the final price of the car.
Yeah, they'll cringe, but having that relationship with your credit union could be the best decision at the end of your OTD negotiations. It's important to be comfortable enough with your lender to ask questions. Good luck!
Just got my if it’s taxable it’s negotiable shirt where do I send you the pics your welcome to post it I’m from Alaska and a member
Please email me at ray@yourautoadvocate.com and I will share with Zach and the team. You are a good man Alaska Sound guy. Thanks and stay safe, Ray
Can I apply your advice for purchasing motorcycles?
Awesome information