Not always. We had a place stay open for an hour after close while we negotiated. It was my wife, myself, sales guy and finance guy. I watched the finance guy lock up. Lol
Buyers need to understand this: the dealership isn’t out for your best interest. You’re not going to win the deal, the dealer always wins but it’s the buyers job to negotiate a loss that still works out. Hopefully that explains it. If the buyer wins the dealerships would all be closed
My problem when I went to Nissan they kept me in the showroom chatting with the salesman for what seemed like 45 minutes while supposedly they inspected my trade in but I think it was a sales tactic to wear me down because many people just want to buy the car at the dealership's terms so they can hurry and go home. I tried to work out a deal but the manger came and said they can't do a deal and I shocked them and walked out and went home. I got an email at home saying come back now (dealership was closing soon) and they'd agree to my offer. Always be ready to walk even if you're in love with the new car or your old car is falling apart
yeah same here the salesman always goes in the back, makes some bs excuse and leaves you sitting in the showroom for an hour then they come back with more bs
I hope you told them to go self pleasure themselves when they emailed you about accepting your offer. Otherwise you just further encouraged their dishonest behavior.
I get paid by the hour, so I love taking one of my workers to a dealership and messing with sales guys. After about an hour of them showing me cars they say what do you think? I say oh I'm just here to pick up parts I'm sorry I forgot my mission with all your talking. 😂
@@ldogg63851 I've been interested in a Ford Maverick (small hybrid pick-up, because I go deer hunting) since they came out 2-3 yrs ago. BUT! I would have to order 1 site unseen, AND ppl are waiting 8-12 months to get them! I DAM sure would like to see+test drive sumpin that I'm paying $25-30K for, ya no? So, I gave up on them.
1. loan pre-approval application 2. Updated drivers license 3. Valid insurance card - choose insurer - provide vehicle year, make, model - insurer gives you a quote - insurer will provide doc called an insurance "binder", which is temporary proof of insurance/insurance card - provide binder to car dealer - insurance policy becomes activated and charged once purchase is finalized 4. Proof of income (check stubs, W2) 5. Proof of residency (utility, cellphone bill) 6. References x3
As an alternative to what's been mentioned in this video... I first figured out the vehicle and trim I wanted, along with the Out the Door price about a week prior. I contacted a local CU for pre-approval. I then asked if they offered a Brokering Service, they did at no charge. Broker contacted me, I told him what I wanted and the price I wanted to pay. 2hrs later he sent me an email with 4 vehicles matching my wants and asked me which I wanted. I chose the vehicle, signed the documents via Docu-Sign, and that night the new vehicle was being delivered to my home. Never stepped foot on the dealership, paid less than the average (per online data points) and had a very low stress experience. The dealership did call to follow up and thank me for the purchase. They also placed a few business cards in the cup holder should I had any questions or concerns. There was zero pushyness or anything of the sort. Oh the dealership also mailed me a $200 gas card a week later. Absolute best experience ever.
My recent car purchase went just as smooth as your video. Handled everything from my home, emailed or texted all needed documents. Got preapproved of course. Due to lack of inventory I had to use a dealer about a hour away. Setup a appointment, they were ready for me to do the paper work when I arrived and the car was cleaned and ready to go. So maybe a hour I was there. Also, they even followed me home with the new car so I could drive my car home, remember this was over a hour away too. I was very pleased with this outcome.
@@h2o100c Because my wife is handicap and couldn't come at the last minute and I had her car to drive there a hour away. They offered to, so I took them up on it. Keep in mind I was over a hour away in another city.
I bought my Blazer in less than 10 minutes after I test drove it. And that is financing everything through the dealership. If anything I would have preferred it take longer, I had to slow the finance guy down a little so I could read before I sign. My sales guy was great (Andy Langston from Day's Chevrolet in Jasper Georgia). I can definitely recommend that dealership. No pushy sales tactics, no mark ups when everyone else was doing them, and no required dealer installed accessories.
Mike, You do and explain things Right, so much better than listening to Andrew Elliot ( he is however very good to learn from for sales training and techniques used on us) but for us when buyers, we really are at a disadvantage in the dealership. You, The Homework Guy & Elizabeth, Ray & Zak have done so much to help us presently and in the future of any auto buying. Thank You for helping all of us 🙂
You are 100% correct. I just bought a CT4-V BlackWing from LockHart Cadillac Saturday. My sales guy is phenomenal and have been doing business with him for 8 years. He knew I was looking for one and he had one that came in. He called me and had everything setup when I went in. Had my own financing through Crane Credit Union. Went in and signed papers and was out in less than 30 minutes. It can happen just as you said if the dealership is not scum! Good dealerships value their customers time, which is invaluable!!
If it is a used car, even though the deal is finalized remotely, I take 20 min to drive it and make sure all is as it should be, making sure EVERYTHING works. Even checking the date codes on the tires, and a tread depth gauge. Noe thing most do not check is the power ports to make sure they work as well.
Take any used vehicle to a mechanic. Carfax has some of that data. Usually not all because some shops and body shops don't report to carfax. Cool fox, but not always right. If the vehicle has been in an accident, be sure it's been repaired properly. A mechanic should look over the entire vehicle. Remember, there is a reason people trade vehicles. If it's been in an accident, this also lowers the price of the vehicle. By all means, check the vehicle out.
I lost count after 16 signatures on disclosures, registration, declining this/that and everything. An hour at a desk on sales floor, 30 minute test drive and another 45 in the F&I office on a cash deal. However, they did take a good personal check and worked with me dealing with a power of attorney so I could gift the car to an adult child and have it titled and registered to her. At the end, the look on her face was priceless when I revealed it. The other I bought for the other kid had me in and out in 2 hours but had cash in pocket on that one but most delay was my fault really going over the car and test driving it knowing it was a rebuilt title checking the repairs and a deal because of it. A little short but he did eat the sales tax and temp tag for me. Good advice though. Two 2015 Versa's, one for $8K and the other for $10.5K both had under 70K miles. They worked for the kids and easy to fix or order parts for as they are the same cars, same everything on them.
I love the video, i recently got a Tesla (not preaching or anything, just comparing the experience, and it was... well.. wow) you get the price from the site, no changes, it's sticker price, you do all online, you get there, do not have to interact with humans, no hidden fees... nothing, i think we spend 5 minutes at the dealership. 3 months later a little issue with a door, they sent the mechanics to my home, fixed it, and nothing else...
100%....bought 6 trucks since 2020 and always did most of the work via text, email......went to dealership only to sign....45 min tops and usually cuz truck wasn't washed and detailed.... It's very simple process doing it from home and so much easier If dealership says I have to come in before they will negotiate I stop communicating and on to the next...... Even had a few delivered where I never set foot into the dealership.... Be smart, use the tools available to your advantage
100% agree on home field advantage. I rarely go into the dealership at all but did today because they had two specific trucks I was looking for. One was a used Trail Boss LT that was low mileage certified pre-owned and the other was a new Colorado Trail Boss in Sand Dune which they are the only dealer in my area to have that color. After driving the LT Trail Boss it was an immediate no go for me. Truck had a pretty severe vibration which I expected was tire related. I told the salesman to let me take a look at the new Colorado Trail Boss. After being gone about 5 minutes he comes back and says what if we put new tires on the truck for you. I said no, I'd like to see the Colorado. He brings the sales manager back after a few minutes and proceeds to ask me what kind of tires I would like, I said I'd like to see the Colorado. Finally they go to get the Colorado. Mind you, he asked me about a used Colorado when I got to the dealership and I said no, used prices are basically the same as new right now so in that truck I would only consider new. He comes in to let me know he as the Colorado ready and to my surprise he has pulled around a used Colorado Trail Boss with 19k miles for $39k. Mind you a new one can be picked up for that or less. I shook his hand, said thanks for your time and made a B-line straight for my truck.
Bought a good used car from a dealership back in November and it was so much easier than I ever expected because I did my homework. Researched the car I wanted, waited to find the exact car in the exact price range, watched helpful videos and read helpful articles like this about what to expect and be ready for, finally found the car, contacted the owner of the dealership, had all my questions answered, sent a mechanic to inspect the car, got a thumbs up from the them and detailed report, went in the next day and bought it. Spent like 1 hour at the dealership. Easy peesy.
@@prettyboishah2898 it just depends on the insurance company, what level of coverage you want, if you want any extras like rideshare coverage, and what your driving history is. Bigger companies like Progressive or Geico may cost more than a small local insurance agency. Full coverage will cost more than just liability. Rideshare if you want to drive for Uber/Lyft/Doordash generally costs more. And tickets/accidents will usually lead to higher premiums. Just depends.
The best experience I had was at a Volvo dealership. No finance manager, the salesperson handled the whole process, and it took about 30 minutes. Totally painless. They also gave me exactly what I wanted for my trade as well as the price I wanted to pay for the car (both reasonable offers, I should add -- obviously makes a difference).
I agree Mike...you come prepared the process can move pretty quickly. My last car purchase, a 2019 colorado from a chevy dealer pre pandemic. I had picked out the car on the internet. Set an appointment on the internet. I arrived and they had the truck pulled out up front. I told the salesman I did not want any fluff or word tracks, just let me see the vehicle. I looked over the truck and told the guy I wanted it. The worst part was dealing with the trade. The internet price on the colorado was actually a great price; however, they tried to make it back on the trade. Fortunately I did have cash offers from Carmax and Carvana which saved the day. It was nice to whip out the USAA check in the finance office. Being prepared shows the dealer you are not a mark or lay down.
Great video Mike. Can you make a video that describes how you negotiate via email or text? How do you start? How long should it take? How can you tell if they’re just messing around with you? Thanks.
I agree, I had a Navy Federal pre-approval. I submitted to Ford Credit and went into the dealer to check it went through. Not 30mibs but FMC was slow getting back, but still pretty quick. Had to do a spot delivery, but it was Sunday 6p with a 700 score and had Navy Federal backup.
I walked into a lot years ago tired and wore out from playing the game all day long about 4 PM. I drove the car I wanted, told the salesman that I was tired and that at 5 PM I was driving off that lot- his car, my car, I didn't care. He made it happen. From that point, I always use my clock.
My last two car purchases were completed in less than 30 minutes. July 2022 went online to the Tesla website, ordered the model I wanted, placed deposit on CC, waited for email to come pick it up, went to Tesla delivery center, signed a couple papers and wrote a check for whole thing, then drove off the lot. December 2022, went on Tesla website, picked out a discounted model in stock, filled in trade in info and got instant value for it, filled in financing request, placed deposit on CC, waited for e mail to give me a time slot for pick up, drove to delivery center, signed a couple papers for car and loan, gave keys and title for trade in to a live person, drove my second new Tesla off the lot. Easy Peasy. Will never buy a new car any other way again. No haggle, no stress, and both in under 30 minutes each. We have two beautiful Teslas, one for each of us!
I loathed dealership wait times. Even if you think you scored a great deal winning half the battle. I truly believe they make you wait for hours to wear you down. Helped a family grab a good deal on a Willy's this weekend. 11:15am - 4:50ish pm. We were the only customers inside too!. There should be a mandatory time limit.
If you want to pay cash you're missing out on all the financing deals, rebates, incentives, discounts, whatever they offer then make one payment to the bank and be done with it as long as the bank doesn't have an early payoff fee.
Tough Love. Thanks, especially for the preparation tips. I don't want to deal with the extra stress of being ill prepared and have a couple of blocks to check.
Mike, I’m pre-approved by my credit union. I’m not sure what make or model I want, but have a few in mind. I like the idea of shopping from home via email or text. How should I go about doing this without knowing what I want? Do I go to a dealership, look around, do some test drives and then reach out about the car I want to buy? I don’t want to negotiate on a car I’ve never seen it driven. Thanks man your channel is great.
If you aren’t looking to buy immediately, wait until the auto show hits your city if it has one. That way for $20 or so, you can look around and see what you like.
@@thebest545 google info about the most recent auto shows in your area, some major manufacturers are skipping them. (In Philly, the number of brands skipping was high but we also have a convention center with unions that are notoriously difficult and expensive to work with)
Appreciate the video Mike. I've always hated the car buying process. But you did not address the biggest time suck in the process and that's the finance office. They go on forever, trying to sell customers worthless (my opinion) profit generating crap and no matter how many times I tell them I'm not buying anything, they just keep going. It's really annoying.
I can cut it to 2 steps (other than test driving and looking over vehicle and having insurance already set up should you buy vehicle you are looking to buy) Step 1, avoid dealer, find a private party selling vehicle you are interested in and have researched. Step 2 have cash with you in amount you are willing to pay and tell them this is what I pay or I walk away. Cash is still king. Financing a vehicle is stupid. If you want to buy new with cash, then you can also tell them you may finance with them if they give you a good deal. Then do the deal and once they close on it, walk in with the cash next day and pay it off. Dealerships hate it because they get screwed twice. Once on the deal and then not making any money on the interest since you didn't pay any. I agree with the rest as far as having documents needed, telling them I have x amount of time, etc.
First time ever commenting, but I must say that this has been one of my favorite videos. I have taken your advice and some from a few other TH-camrs and had a great buying experience back in 2021 and it didn't suck. Took me longer to drive to the dealership than it took for the transaction.
2:15 - Another reason why i don't want to schedule an appointment if going there. They don't need to know i'm coming just to put on an act setting up props. THANKS!!
I treat car salespeople with great respect until I catch them in a lie, then I treat them on the far other end of the spectrum. Our relationships always get off to a great start then last about 8.2 minutes until that first lie is spewed.
Bought (12 years ago) a slightly used car at a dealership that focuses on commercial trucks. Took less than 10 minutes. They put a tiny bit of paperwork in front of me. I gave them a cashiers check. I was done. They were happy. I was happy. Why can't all car deals work that way?
Mike, great videos, if you see a car from another state (but within driving distance) that looks really good, researched the dealership and they seem ok. You mentioned in the video of 5 things not to say to a salesman, to stay loyal to your local dealers because they won’t give you anything, if it’s a CPO o guess it may be tough to get the car serviced being it’s far away (not local but about an hour plus) You mentioned in this video you have clients all over the country, if they have a problem what do they do? If it’s a cpo do they find a mechanic or dealership to service it? What about extended warranty polices? (Probably a no no) go with company that is an after market that offers that
I sold a brand new Plymouth Voyager minivan to an Amway Crown a long time ago and he was in and out of the Dealership in probably less than 30 minutes . He bought the van for his Nanny to drive his kids around in . He didn't even test drive it or anything . Is this the only one with a vinyl interior in it . Yeah . This is the one I want , lets go . And he walked in front of me straight to the finance office . The word "yeah" was the only word I ever said and I'll NEVER forget the way he said " let's go " and he went pronto to the finance with me tryying to keep up with him walking .
Hey. Thank you for this clear well explained video. Really helped me come prepared and even negotiate a lower out the door price. I appreciate what you did here sir!
Bought a used car from a new car dealer. Brought cash. Paid less than their asking price, 35% lower. I hardballed my offer and told them to eat the tax title doc fees. My threat was i was gonna walk. And they wanted that sweet sweet cash
Yes! Chase chevrolet in Norcal works just like this, one of the reasons why i love working here. No bs, straight forward from beginning to end. Guess thats why they'vd been in buisness since 1944. Completly agree on customer sometimes holds up the process of getting into the finnace asap, 9 times outta 10 they have an insurance card thats 2-3 years old, so now we have to call the office and have them email/fax a current card, its easiest if you have it via an app or online account but many do not.
Oh boy! The stall method they use to get you tired and more likely to just get this deal over with to get out of there. Don't sign anything that would tie you to dealer until the deal is complete, walk out at any time you think they are playing games with you.
Missed the most important question if not done its a no go. Can the car be sent to a mechanic for a pre purchase inspection. Would not trust what the dealership tells you how good they think the car is.
I have purchased 11 new cars in my life thru a dealership, including Mazda, Honda, Fiat, Pontiac, Isuzu, Nissan, Subaru, Ford, Chevrolet, Recently, I bought number 12 completely online thru the most beautiful mobile app on my iPhone without talking (arguing) with anyone at a dealership. I bought, financed, registered, and insured a new Tesla Model Y on my iPhone. It was a wonderful experience ! I will never, ever go back to a dealership again. Never. . . ever !!
I was ecstatic that my last deal took under 2 hours, but that included the test drive and me driving to the bank to get them a check for the cash sale (which was probably over an hour of that). Luckily, I knew the head of the service department of that dealership, and asked him who was the least BS salesman who didn't have to talk to the manager every 15 minutes. I had also researched and had a reasonable number in my head for my trade-in (I was shocked to get $500 more than what I was expecting). The only hick-up was that I had to go back the next day to have my wife sign over the title on the trade-in. We had just moved to Missouri and there is no such thing as and/or on signing over the titles like in Kansas, so both of us had to sign. One great thing was that I told this salesman that I planned to keep this vehicle for several years and I didn't want a call every six months asking me to trade it in... he told me he would go back in and lose my number for that and he kept his promise.... have had it five years now and not one sales pitch call. He earned my loyalty.
Good stuff! Question: If you come in Pre-Approved does that mean you will lose out on deals or money off the car?... or is there always wiggle room if you do NOT finance through their dealership or brand (NISSAN, VOLVO, etc Financial Services)
They make more money off you if you finance through them so they take some off. However you could always refinance later if you get a lower rate through your bank. I would only take the dealer offer if the financing terms are better.
Okay so I'm looking at your videos and they are so awesome and impressive with your knowledge and very great advice....because I'm trying to understand what car salesman try I do behind smoking mirror glasses 🕶️🤓 I like your glasses😂 Thank you for being upfront about everything. I find myself now so consumed about trying to find a car that's nearly forever taking me to find that right car that's in my budget range with low mileage.... And whether to pour money into my older car now I have gone through two engines... And that is why I haven't bought another car because of the ridiculous value and the price. Everybody tells me to just give it up but I am stubborn and I like to hold on to older cars....
Mike, Question on CreditCards...I prefer to use my CC as I get rewards for using it. So paying downpayment in cash actually costs me more than a CC. That said, would it be possible to renegotiate a discount for paying with Check/MO/CertCC? Ok, I know it's possible but is it reasonable to expect (does it happen often)?
Just give them what they’re asking? Not me. I don’t stop until the salesman has a bead of sweat running down his forehead. I love the “deal” in dealership! My last car I bought I walked out. The phone rang the next morning and it was the manager, he said he would sell it to me for my price. I told him that since he’s making me come back he needs to take another $500 off my previous asking price. Well, it was the last day of the month and he was desperate and took another $500 off!
The best experience I had was with echo park ! No problems what so ever 5percent Apr . Two days ago I wanted to trade in my other car Nissan McKinney wanted to give me a 15 percent apr
I pay cash for everything. Including my cars. I walk in, gel, them what my offer is and they have 30 minutes to have me out the door with paperwork in hand. Yes, I have walked out at 30 minutes costing a sales person a sale because the manager wanted to slow me down. I’ve done this enough that dealers around here know not to screw around when anyone comes in and does the same thing. My latest was a Superduty pickup. Paid what my offer was, and was out in 27 minutes.
last 3 vehicles I've bought I was at the dealership less than 1 hours each time. Which is crazy considering the first time I bought a car I was there for 4-5 hours and the last 3 I've bought combined was still faster than that.
We don’t care if it takes 30 minutes or 30 hours. You will do everything correctly. Many “pre approvals” are not approvals. Capital one is famous for this. Also many credit unions do not give you a check. They make dealers fill out a voucher. If your dealer wants they have the right to hold the car until the credit union deposits the funds. We had a credit union take 3 weeks before they funded us. That’s 3 weeks they did not own the vehicle we do. And you are right. Customers screw up their own car deals. Bad driver’s license. No driver’s license. Lied on the credit app. Lied about the trade they have. Tries to put 20k on a credit card, Straw purchase or brings 20 grand in 5s and 10s But the biggest problem is customers lying. When I started 31 years ago I was astounded at the volume of lies told by customers. I thought dealers lied! But customers are the king.
My current car I purchased from a dealer 10 hours away. The entire deal was done over email/phone. I drove there to pick up the car and sign the paperwork and the dealer (BMW) kept me waiting over 4 hours. They didn't have anything ready, the finance manager was on vacation so the salesman had to figure out what paperwork they needed and print it all out. They actually had to get the owner to come in (Saturday morning) to write me a check for the taxes and cash back because I had to pay them through the financing but had to pay myself at the DMV. After 3 1/2 hours; then they decided to bring the car in a bay for a "final inspection", wash and shop vac. They knew I was coming for 4 days before. I was fit to be tied! Never again!
Bring back the Chevy Nova years 1968 - 1972 updated with a 4.3v6 and 5speed manual transmission, disc brakes all around . . . . Stamp them, ship them and stage them at Chevy dealerships across the US for a starting price of 14 grand. More if you want a 4 door or a station wagon, something new they never did in the 60s 70s with the Nova.
I'm not sure if you have done this type of video in the past but I would like to see one on "The best way to buy a Factory Direct vehicle purchase" in today's market. I mention this as I'm in the market to do this and I want a very specific build and have not been able to find exactly what I want within a 500 mile radius of my location...and, no, it's not a Camaro. I already have that, but it is a Chevy.
Bring your credit card 3000 limited. Drive license, insurance card. If u want finance 650 above at least. Better not have mortgage. You need to know which specific car suv you want, 30 minute it's crazy. But it takes about 1 and half hours❤❤❤
I won’t negotiate on a used car sight-unseen. So I typically need to be there in-person to even get the ball rolling. One tactic I use is to leave after the test-drive. Let them know I like the car but I’m not ready to take it home. Insist that I don’t care about the numbers and tell them I have to leave. When/if I’m ready to deal, I’ll do that remotely.
Hey Mike, learning a lot from your videos! I understand you suggesting negotiating the deal from home. I'm assuming the actual process of looking a the vehicle and doing a pre-purchase inspection comes before going into the negotiation?
I've always done the negotiating in person. I go in when the dealership first opens and figure I will spend a fair amount of time there. Usually the first salesman you interact with is a newby and can't approve his own deal. That's why he keeps going back to his manager. Just keep low balling the out the door price with him. Eventually they are going to get afraid you are going to walk and the sales manager himself is going to come out. Now you have someone that you can directly negotiate with as he has authority to close the deal. Just be aware these are generally highly experienced people that know all the negotiating tricks. Never agree to a deal with your first sales person. They have not made their final offer until the manager comes out. The dealers try to wear you down with this farce of the first guy running back and forth and taking a half hour every time to make the trip. Usually just drinking coffee and watching you sweat. Just give me some one that has the authority to deal in the first place.
You can do the same on a computer from home....if you researched the car and know what good or great deal is on it is, you just do it from home......not to mention your in contact with 10 others at same time Going in physically to a dealer, f that deal falls through than you start all over at new dealership....and just wasted bunch of time
I was in and out of carmax in like lesss than an hour on a low mileage cheap and clean used car. Was great and seemless. Literally 6 months later the car went way up in value because of covid. Was a nice win. F buying any car that costs a lot.
Hello! I am new to the channel and am loving it so far. One thing I woould like to mention is that things are vastly different here in Toronto Canada but still I have managed to piss off a lot of dealers (and I mean that in a good way). One thing I have trouble with is that the dealers here say that they will charge extra for paying cash and due to this, they force me to discuss payments without getting to the OTD price. Any tips for that? But everything considered, thank you for your tips and guidance. I didn't think I could ever negotiate the asking price being a shy person.
I just bought a car in under an hour. it honestly took longer to drive there than it took to finalize the deal I said give me OTD price, and then we talk how to pay
This was so informative even if not worried about getting out faster just the steps of preparedness was huge. My only thing is what about a good old fashioned test drive? If you think you’re mind is made up on a car what if you find otherwise bc the test drive doesn’t give the feels like it’s the one?
Mike, great video. And I agree with everything you said except for the title. Too many variables, flow of business, etc. Is it technically possible? Under the right circumstances, yes. But someone in Finance submitting out alone and hearing back with approvals can be 15 minutes or longer. So yah, if someone gives me a hard stop of 45 minutes or something like that; that's not business I try to earn. I'll do everything I can to get someone out as quickly as possible, but I don't guarantee in and out times and never will. Again, excellent video though :)
When I was 25 I bought my first new car at a high volume Toyota dealership, I had researched what a fair deal was and what interest rate I should pay. On my first visit I got to a fair but not a great deal at 7200.00. So here’s what I did, I let them write the contract I brought my pen to it and touched it and then said abruptly I have to think about this and left quickly. My plan worked they called and asked what they needed to do to make a deal and said if you lower it by 500 and will come back, and they did and at that time it turned a fair price to a great price. I have bought about 10 new cars and never did that again but at that time I had small children wasn’t making a lot of money and 500.00 was a lot of money for us.
I have had enough of those buying a car transactions where I was jerked around all day, I will never buy another new car ever again… so disrespectful, and just a nasty thing to do to people.
My last new car purchase back in 2009 went like this: First I researched what buyers are paying for the car. Then I got preapproved with Honda Financing. I went to the dealership, picked out the car I wanted that stickered for $17,900. I told the salesman I would pay $16,300. I also told him what I wanted for my trade in. He tried to get me to go into the little room with the uncomfortable chairs while he spoke with the sales manager. I said no, " I'm not sitting in your little room. You have 5 minutes to make this happen, or I'm down the road. I remembered that I left my ice tea in my car and went out to get it. The salesman came running out as fast as he could run calling my name. He told me the price is approved. When I got to the finance guy, I told him I am not interested in any add-ons or products he wants to attach to the car. He wasted no time and wrote it up and I was driving out in my new car. Take control and let them know they are not going to wear you down by wasting your time. Never go to the dealership in the late afternoon because many people sign anything in a rush just to get out of there and eat dinner.
You stated 100% of car deals require my SSN. If I'm not financing, why do you need my SSN? You stated 100% of car deals require my email address. I've never provided my email address during a car deal.
Had all my paperwork together, found my truck 200 miles away, everything was in place, well, almost. Credit union made a paperwork mistake. 4 hours later after fishing my excellent credit, got a better rate with a bank I hate.
No matter what you do, never EVER give a dealer a down payment. It's blind robbery. If you have good credit, down payments are not required even if you're upside down on your current loan.
walk in 30 minutes before they close.. surprising how fast it can go.
Smart thinking! I'll try this.
Haha
Lmao, that’s smart and hilarious! I’m shopping around to hopefully purchase next year. I’m definitely going to follow this advice! 😂
I’ve done this and was still there all night
Not always. We had a place stay open for an hour after close while we negotiated. It was my wife, myself, sales guy and finance guy. I watched the finance guy lock up. Lol
Buyers need to understand this: the dealership isn’t out for your best interest. You’re not going to win the deal, the dealer always wins but it’s the buyers job to negotiate a loss that still works out. Hopefully that explains it.
If the buyer wins the dealerships would all be closed
WELL SAID !
My problem when I went to Nissan they kept me in the showroom chatting with the salesman for what seemed like 45 minutes while supposedly they inspected my trade in but I think it was a sales tactic to wear me down because many people just want to buy the car at the dealership's terms so they can hurry and go home. I tried to work out a deal but the manger came and said they can't do a deal and I shocked them and walked out and went home. I got an email at home saying come back now (dealership was closing soon) and they'd agree to my offer. Always be ready to walk even if you're in love with the new car or your old car is falling apart
I walk out a dealership for that. It does not take that long to get a price. They do this everyday. They had me sitting there waiting. I just walk out
Trust me sales people do not want to talk to you either :)
yeah same here the salesman always goes in the back, makes some bs excuse and leaves you sitting in the showroom for an hour then they come back with more bs
I hope you told them to go self pleasure themselves when they emailed you about accepting your offer.
Otherwise you just further encouraged their dishonest behavior.
I get paid by the hour, so I love taking one of my workers to a dealership and messing with sales guys. After about an hour of them showing me cars they say what do you think? I say oh I'm just here to pick up parts I'm sorry I forgot my mission with all your talking. 😂
Problem is, you guys want about 20% more than market for everything now. Absolutely ridiculous.
Varies wildly. I bought my new Mach 1 with zero markup. Just cause they ask for extra doesn’t mean you’re obligated to pay for it.
Msrp crazy!! Trucks hard time being sold.
Hopefully dealers go out of business and car buying goes directly from the manufacturer..like tesla...greed will get them in the end!
@@Fishwish24 you also have to wait at least two months to get your car.
@@ldogg63851 I've been interested in a Ford Maverick (small hybrid pick-up, because I go deer hunting) since they came out 2-3 yrs ago. BUT! I would have to order 1 site unseen, AND ppl are waiting 8-12 months to get them! I DAM sure would like to see+test drive sumpin that I'm paying $25-30K for, ya no? So, I gave up on them.
1. loan pre-approval application
2. Updated drivers license
3. Valid insurance card
- choose insurer
- provide vehicle year, make, model
- insurer gives you a quote
- insurer will provide doc called an insurance "binder", which is temporary proof of insurance/insurance card
- provide binder to car dealer
- insurance policy becomes activated and charged once purchase is finalized
4. Proof of income (check stubs, W2)
5. Proof of residency (utility, cellphone bill)
6. References x3
What
How do get an insurance card without knowing if you will buy the car?
@@isamargutierrez7371 they like to see insurance card of current vehicle
If you are pre-approved you dont need income Docs or Resident Docs. Cant get insurance till you give them Vin.
@@gnd111I don't work with a dealership if they don't openly advertise price or technical info (mileage, VIN, etc).
As an alternative to what's been mentioned in this video...
I first figured out the vehicle and trim I wanted, along with the Out the Door price about a week prior.
I contacted a local CU for pre-approval. I then asked if they offered a Brokering Service, they did at no charge.
Broker contacted me, I told him what I wanted and the price I wanted to pay.
2hrs later he sent me an email with 4 vehicles matching my wants and asked me which I wanted.
I chose the vehicle, signed the documents via Docu-Sign, and that night the new vehicle was being delivered to my home.
Never stepped foot on the dealership, paid less than the average (per online data points) and had a very low stress experience.
The dealership did call to follow up and thank me for the purchase. They also placed a few business cards in the cup holder should I had any questions or concerns. There was zero pushyness or anything of the sort.
Oh the dealership also mailed me a $200 gas card a week later.
Absolute best experience ever.
Awesome can you recommend the broker please?
Which CU did you use?
And the dealership? Three questions, no answers.
@@thardyryll Probably lying thru his ass
U got sum splainin to do.
Just bought a car using your tips! This video saved us a ton of time and stress at the dealership! Thank you!!
My recent car purchase went just as smooth as your video. Handled everything from my home, emailed or texted all needed documents. Got preapproved of course. Due to lack of inventory I had to use a dealer about a hour away. Setup a appointment, they were ready for me to do the paper work when I arrived and the car was cleaned and ready to go. So maybe a hour I was there. Also, they even followed me home with the new car so I could drive my car home, remember this was over a hour away too. I was very pleased with this outcome.
you called & let them know what was going on before you texted all documents?
very rare
The dog took a dump on the floor😅
Why did they follow you home? Weird
@@h2o100c Because my wife is handicap and couldn't come at the last minute and I had her car to drive there a hour away. They offered to, so I took them up on it. Keep in mind I was over a hour away in another city.
I bought my Blazer in less than 10 minutes after I test drove it. And that is financing everything through the dealership. If anything I would have preferred it take longer, I had to slow the finance guy down a little so I could read before I sign. My sales guy was great (Andy Langston from Day's Chevrolet in Jasper Georgia). I can definitely recommend that dealership. No pushy sales tactics, no mark ups when everyone else was doing them, and no required dealer installed accessories.
Mike, You do and explain things Right, so much better than listening to Andrew Elliot ( he is however very good to learn from for sales training and techniques used on us) but for us when buyers, we really are at a disadvantage in the dealership.
You, The Homework Guy & Elizabeth, Ray & Zak have done so much to help us presently and in the future of any auto buying. Thank You for helping all of us 🙂
look up how he stole from people, committed fraud, Then turned snitch... It's why he's not at a dealership any longer.
Thanks for the info , in my experience the threat of walking out is the best thing to speed up the process !…. And when you get up keep walking !
You are 100% correct. I just bought a CT4-V BlackWing from LockHart Cadillac Saturday. My sales guy is phenomenal and have been doing business with him for 8 years. He knew I was looking for one and he had one that came in. He called me and had everything setup when I went in. Had my own financing through Crane Credit Union. Went in and signed papers and was out in less than 30 minutes. It can happen just as you said if the dealership is not scum! Good dealerships value their customers time, which is invaluable!!
Oz 7uz0ⁿ⁷
I have a CTS V-Sport. I love that engine. So cool man!
Monthly payment and down?
My credit union cannot do anything without a line item sheet showing what I am paying for so it seem to not be about the loan total needed and months.
I print out the price shown on their website. I just tell them I want it for the price as shown on the website… no bs. Works every time.
If it is a used car, even though the deal is finalized remotely, I take 20 min to drive it and make sure all is as it should be, making sure EVERYTHING works. Even checking the date codes on the tires, and a tread depth gauge. Noe thing most do not check is the power ports to make sure they work as well.
Take any used vehicle to a mechanic. Carfax has some of that data. Usually not all because some shops and body shops don't report to carfax. Cool fox, but not always right. If the vehicle has been in an accident, be sure it's been repaired properly. A mechanic should look over the entire vehicle. Remember, there is a reason people trade vehicles. If it's been in an accident, this also lowers the price of the vehicle. By all means, check the vehicle out.
@@glenshepard6960 For the run of the mill lower end dealerships this is a must, but typically the big name dealerships its not as much of an issue.
I lost count after 16 signatures on disclosures, registration, declining this/that and everything. An hour at a desk on sales floor, 30 minute test drive and another 45 in the F&I office on a cash deal. However, they did take a good personal check and worked with me dealing with a power of attorney so I could gift the car to an adult child and have it titled and registered to her. At the end, the look on her face was priceless when I revealed it. The other I bought for the other kid had me in and out in 2 hours but had cash in pocket on that one but most delay was my fault really going over the car and test driving it knowing it was a rebuilt title checking the repairs and a deal because of it. A little short but he did eat the sales tax and temp tag for me. Good advice though. Two 2015 Versa's, one for $8K and the other for $10.5K both had under 70K miles. They worked for the kids and easy to fix or order parts for as they are the same cars, same everything on them.
You sound awesome! I hope the kids are enjoying their vehicles and that you have a nice one yourself. ❤
I love the video, i recently got a Tesla (not preaching or anything, just comparing the experience, and it was... well.. wow) you get the price from the site, no changes, it's sticker price, you do all online, you get there, do not have to interact with humans, no hidden fees... nothing, i think we spend 5 minutes at the dealership. 3 months later a little issue with a door, they sent the mechanics to my home, fixed it, and nothing else...
100%....bought 6 trucks since 2020 and always did most of the work via text, email......went to dealership only to sign....45 min tops and usually cuz truck wasn't washed and detailed....
It's very simple process doing it from home and so much easier
If dealership says I have to come in before they will negotiate I stop communicating and on to the next......
Even had a few delivered where I never set foot into the dealership....
Be smart, use the tools available to your advantage
100% agree on home field advantage. I rarely go into the dealership at all but did today because they had two specific trucks I was looking for. One was a used Trail Boss LT that was low mileage certified pre-owned and the other was a new Colorado Trail Boss in Sand Dune which they are the only dealer in my area to have that color. After driving the LT Trail Boss it was an immediate no go for me. Truck had a pretty severe vibration which I expected was tire related. I told the salesman to let me take a look at the new Colorado Trail Boss. After being gone about 5 minutes he comes back and says what if we put new tires on the truck for you. I said no, I'd like to see the Colorado. He brings the sales manager back after a few minutes and proceeds to ask me what kind of tires I would like, I said I'd like to see the Colorado. Finally they go to get the Colorado. Mind you, he asked me about a used Colorado when I got to the dealership and I said no, used prices are basically the same as new right now so in that truck I would only consider new. He comes in to let me know he as the Colorado ready and to my surprise he has pulled around a used Colorado Trail Boss with 19k miles for $39k. Mind you a new one can be picked up for that or less. I shook his hand, said thanks for your time and made a B-line straight for my truck.
I went an hour before closing and it went smooth!
Bought a good used car from a dealership back in November and it was so much easier than I ever expected because I did my homework. Researched the car I wanted, waited to find the exact car in the exact price range, watched helpful videos and read helpful articles like this about what to expect and be ready for, finally found the car, contacted the owner of the dealership, had all my questions answered, sent a mechanic to inspect the car, got a thumbs up from the them and detailed report, went in the next day and bought it. Spent like 1 hour at the dealership. Easy peesy.
How much was your insurance?
@@prettyboishah2898 it just depends on the insurance company, what level of coverage you want, if you want any extras like rideshare coverage, and what your driving history is. Bigger companies like Progressive or Geico may cost more than a small local insurance agency. Full coverage will cost more than just liability. Rideshare if you want to drive for Uber/Lyft/Doordash generally costs more. And tickets/accidents will usually lead to higher premiums. Just depends.
The best experience I had was at a Volvo dealership. No finance manager, the salesperson handled the whole process, and it took about 30 minutes. Totally painless. They also gave me exactly what I wanted for my trade as well as the price I wanted to pay for the car (both reasonable offers, I should add -- obviously makes a difference).
Yeah but you had to go home in a Volvo
@@jdb2722 Its a great car. I have an Audi and a Range Rover too. The luxury car buying experience is so much more painless.
@@JustMe99999 I have a Ferrari, BMW and and Lamborghini 🤦🏼♂️
@@seadoo4life127 I have a zentorno, adder, and t20 🤦♂️
What's your payment like 😊@@seadoo4life127
I agree Mike...you come prepared the process can move pretty quickly. My last car purchase, a 2019 colorado from a chevy dealer pre pandemic. I had picked out the car on the internet. Set an appointment on the internet. I arrived and they had the truck pulled out up front. I told the salesman I did not want any fluff or word tracks, just let me see the vehicle. I looked over the truck and told the guy I wanted it. The worst part was dealing with the trade. The internet price on the colorado was actually a great price; however, they tried to make it back on the trade. Fortunately I did have cash offers from Carmax and Carvana which saved the day. It was nice to whip out the USAA check in the finance office. Being prepared shows the dealer you are not a mark or lay down.
Great video Mike. Can you make a video that describes how you negotiate via email or text? How do you start? How long should it take? How can you tell if they’re just messing around with you? Thanks.
Put everything you're wanting in the email. Be incredibly direct. For me it was OTD quote, see the itemized quote. That's a good starting point
I agree, I had a Navy Federal pre-approval. I submitted to Ford Credit and went into the dealer to check it went through. Not 30mibs but FMC was slow getting back, but still pretty quick. Had to do a spot delivery, but it was Sunday 6p with a 700 score and had Navy Federal backup.
Your a vet?
Everyone talks about navy federal and Ik all these guys aren’t veterans I’m tryna get the sauce too lmao
@@saifa6099 Do you have a family who is a active duty or a vet? I mentioned my grandfather who died in 1986 and never had to show his DD214.
Ford was offering 5.99% interest on their current loans. Not a very good deal.
@@robertheinkel6225 That was a backup. I got 3.9 for 60 with FMC. It will only go down.
I walked into a lot years ago tired and wore out from playing the game all day long about 4 PM. I drove the car I wanted, told the salesman that I was tired and that at 5 PM I was driving off that lot- his car, my car, I didn't care. He made it happen. From that point, I always use my clock.
This is awesome, I wish your dealership the best luck!
I purchased a car in Chicago last year and I have a NY driver’s license. It wasn’t a problem at all.
Your videos are the most valuable videos in TH-cam!
Thank you so much Mike!
My last two car purchases were completed in less than 30 minutes.
July 2022 went online to the Tesla website, ordered the model I wanted, placed deposit on CC, waited for email to come pick it up, went to Tesla delivery center, signed a couple papers and wrote a check for whole thing, then drove off the lot.
December 2022, went on Tesla website, picked out a discounted model in stock, filled in trade in info and got instant value for it, filled in financing request, placed deposit on CC, waited for e mail to give me a time slot for pick up, drove to delivery center, signed a couple papers for car and loan, gave keys and title for trade in to a live person, drove my second new Tesla off the lot.
Easy Peasy. Will never buy a new car any other way again. No haggle, no stress, and both in under 30 minutes each. We have two beautiful Teslas, one for each of us!
I loathed dealership wait times. Even if you think you scored a great deal winning half the battle. I truly believe they make you wait for hours to wear you down.
Helped a family grab a good deal on a Willy's this weekend. 11:15am - 4:50ish pm. We were the only customers inside too!. There should be a mandatory time limit.
Lmao I just went to today from 12:30-3:30 but they gave me coffee and fed me Panda Express so I was fine with it tho
If you want to pay cash you're missing out on all the financing deals, rebates, incentives, discounts, whatever they offer then make one payment to the bank and be done with it as long as the bank doesn't have an early payoff fee.
Tough Love. Thanks, especially for the preparation tips. I don't want to deal with the extra stress of being ill prepared and have a couple of blocks to check.
Hi Mike, how would cash buyer's experience differ than someone financing?
Mike, I’m pre-approved by my credit union. I’m not sure what make or model I want, but have a few in mind. I like the idea of shopping from home via email or text. How should I go about doing this without knowing what I want? Do I go to a dealership, look around, do some test drives and then reach out about the car I want to buy? I don’t want to negotiate on a car I’ve never seen it driven. Thanks man your channel is great.
If you aren’t looking to buy immediately, wait until the auto show hits your city if it has one. That way for $20 or so, you can look around and see what you like.
@@thebest545 google info about the most recent auto shows in your area, some major manufacturers are skipping them. (In Philly, the number of brands skipping was high but we also have a convention center with unions that are notoriously difficult and expensive to work with)
So true about the Kia dealers. I've bought 3 Kia's from Kia dealers, first two took 7 hours each, the last one was better, but was still 4-5 hours.
I dOnT wAnT tO GiVe My SSN. I aM pAyInG cAsH.
No idea how many times, I’ve heard that. Some geniuses out there.
LOL yuuup. DMV needs it to title the vehicle.
Appreciate the video Mike. I've always hated the car buying process. But you did not address the biggest time suck in the process and that's the finance office. They go on forever, trying to sell customers worthless (my opinion) profit generating crap and no matter how many times I tell them I'm not buying anything, they just keep going. It's really annoying.
doing a video on that soon.
Great video… thank you for the information, I absolutely HATE buying a car, I will definitely use this the next time I purchase one.
I can cut it to 2 steps (other than test driving and looking over vehicle and having insurance already set up should you buy vehicle you are looking to buy) Step 1, avoid dealer, find a private party selling vehicle you are interested in and have researched. Step 2 have cash with you in amount you are willing to pay and tell them this is what I pay or I walk away. Cash is still king. Financing a vehicle is stupid. If you want to buy new with cash, then you can also tell them you may finance with them if they give you a good deal. Then do the deal and once they close on it, walk in with the cash next day and pay it off. Dealerships hate it because they get screwed twice. Once on the deal and then not making any money on the interest since you didn't pay any. I agree with the rest as far as having documents needed, telling them I have x amount of time, etc.
First time ever commenting, but I must say that this has been one of my favorite videos. I have taken your advice and some from a few other TH-camrs and had a great buying experience back in 2021 and it didn't suck. Took me longer to drive to the dealership than it took for the transaction.
love to hear it!
Good dealers. That’s how it is. If it’s over MSRP don’t even look because that screams shady right away.
I love how you always start the video with you walking out the door 😂😂 I wish you was in my city, no one cares like you do❤
I was in the car biz for 25years. I bought my wife a new Ford Bronco last fall. Deal done and dusted in 45 mins.
2:15 - Another reason why i don't want to schedule an appointment if going there. They don't need to know i'm coming just to put on an act setting up props. THANKS!!
I treat car salespeople with great respect until I catch them in a lie, then I treat them on the far other end of the spectrum. Our relationships always get off to a great start then last about 8.2 minutes until that first lie is spewed.
Bought (12 years ago) a slightly used car at a dealership that focuses on commercial trucks. Took less than 10 minutes. They put a tiny bit of paperwork in front of me. I gave them a cashiers check. I was done. They were happy. I was happy. Why can't all car deals work that way?
Mike, great videos, if you see a car from another state (but within driving distance) that looks really good, researched the dealership and they seem ok. You mentioned in the video of 5 things not to say to a salesman, to stay loyal to your local dealers because they won’t give you anything, if it’s a CPO o guess it may be tough to get the car serviced being it’s far away (not local but
about an hour plus) You mentioned in this video you have clients all over the country, if they have a problem what do they do? If it’s a cpo do they find a mechanic or dealership to service it? What about extended warranty polices? (Probably a no no) go with company that is an after market that offers that
I sold a brand new Plymouth Voyager minivan to an Amway Crown a long time ago and he was in and out of the Dealership in probably less than 30 minutes . He bought the van for his Nanny to drive his kids around in . He didn't even test drive it or anything . Is this the only one with a vinyl interior in it . Yeah . This is the one I want , lets go . And he walked in front of me straight to the finance office . The word "yeah" was the only word I ever said and I'll NEVER forget the way he said " let's go " and he went pronto to the finance with me tryying to keep up with him walking .
When I bought my '85 Dodge Aries K the dealer gave me stale and cold cup of coffee as a thank you
What did you expect buying junk?
@Jay A. I still have it and have purchased 2 multiunits and now both have zero mortgage. Good thing I didn't keep buying cars every 3 years.
Hey. Thank you for this clear well explained video. Really helped me come prepared and even negotiate a lower out the door price. I appreciate what you did here sir!
Focus only on the Out The Door Price. No trade in, no financing...moot points. Lets get that Out The Door Price in writing first.
Bought a used car from a new car dealer. Brought cash. Paid less than their asking price, 35% lower. I hardballed my offer and told them to eat the tax title doc fees. My threat was i was gonna walk. And they wanted that sweet sweet cash
Yes! Chase chevrolet in Norcal works just like this, one of the reasons why i love working here. No bs, straight forward from beginning to end. Guess thats why they'vd been in buisness since 1944.
Completly agree on customer sometimes holds up the process of getting into the finnace asap, 9 times outta 10 they have an insurance card thats 2-3 years old, so now we have to call the office and have them email/fax a current card, its easiest if you have it via an app or online account but many do not.
Oh boy! The stall method they use to get you tired and more likely to just get this deal over with to get out of there. Don't sign anything that would tie you to dealer until the deal is complete, walk out at any time you think they are playing games with you.
I don’t understand why everyone hates cash nowadays. I don’t want to finance I just want to pay outright and get on with my life.
Missed the most important question if not done its a no go. Can the car be sent to a mechanic for a pre purchase inspection. Would not trust what the dealership tells you how good they think the car is.
I have purchased 11 new cars in my life thru a dealership, including Mazda, Honda, Fiat, Pontiac, Isuzu, Nissan, Subaru, Ford, Chevrolet, Recently, I bought number 12 completely online thru the most beautiful mobile app on my iPhone without talking (arguing) with anyone at a dealership. I bought, financed, registered, and insured a new Tesla Model Y on my iPhone. It was a wonderful experience ! I will never, ever go back to a dealership again. Never. . . ever !!
I was ecstatic that my last deal took under 2 hours, but that included the test drive and me driving to the bank to get them a check for the cash sale (which was probably over an hour of that). Luckily, I knew the head of the service department of that dealership, and asked him who was the least BS salesman who didn't have to talk to the manager every 15 minutes. I had also researched and had a reasonable number in my head for my trade-in (I was shocked to get $500 more than what I was expecting). The only hick-up was that I had to go back the next day to have my wife sign over the title on the trade-in. We had just moved to Missouri and there is no such thing as and/or on signing over the titles like in Kansas, so both of us had to sign. One great thing was that I told this salesman that I planned to keep this vehicle for several years and I didn't want a call every six months asking me to trade it in... he told me he would go back in and lose my number for that and he kept his promise.... have had it five years now and not one sales pitch call. He earned my loyalty.
Good stuff! Question: If you come in Pre-Approved does that mean you will lose out on deals or money off the car?... or is there always wiggle room if you do NOT finance through their dealership or brand (NISSAN, VOLVO, etc Financial Services)
They make more money off you if you finance through them so they take some off. However you could always refinance later if you get a lower rate through your bank. I would only take the dealer offer if the financing terms are better.
Okay so I'm looking at your videos and they are so awesome and impressive with your knowledge and very great advice....because I'm trying to understand what car salesman try I do behind smoking mirror glasses 🕶️🤓 I like your glasses😂 Thank you for being upfront about everything. I find myself now so consumed about trying to find a car that's nearly forever taking me to find that right car that's in my budget range with low mileage.... And whether to pour money into my older car now I have gone through two engines... And that is why I haven't bought another car because of the ridiculous value and the price. Everybody tells me to just give it up but I am stubborn and I like to hold on to older cars....
Mike, Question on CreditCards...I prefer to use my CC as I get rewards for using it. So paying downpayment in cash actually costs me more than a CC. That said, would it be possible to renegotiate a discount for paying with Check/MO/CertCC? Ok, I know it's possible but is it reasonable to expect (does it happen often)?
Just give them what they’re asking?
Not me. I don’t stop until the salesman has a bead of sweat running down his forehead. I love the “deal” in dealership! My last car I bought I walked out. The phone rang the next morning and it was the manager, he said he would sell it to me for my price. I told him that since he’s making me come back he needs to take another $500 off my previous asking price. Well, it was the last day of the month and he was desperate and took another $500 off!
What a W. I like how you stood on business bro. I will do the same 😂
And I was pre-approved by Navy Federal!
I just found your Channel my car was stolen 2 days ago. Learing so much. I don't even think i will be able to afford a used car now with these prices😢
The best experience I had was with echo park ! No problems what so ever 5percent Apr . Two days ago I wanted to trade in my other car Nissan McKinney wanted to give me a 15 percent apr
I pay cash for everything. Including my cars. I walk in, gel, them what my offer is and they have 30 minutes to have me out the door with paperwork in hand.
Yes, I have walked out at 30 minutes costing a sales person a sale because the manager wanted to slow me down. I’ve done this enough that dealers around here know not to screw around when anyone comes in and does the same thing.
My latest was a Superduty pickup. Paid what my offer was, and was out in 27 minutes.
last 3 vehicles I've bought I was at the dealership less than 1 hours each time. Which is crazy considering the first time I bought a car I was there for 4-5 hours and the last 3 I've bought combined was still faster than that.
You say to work every aspect of the deal remotely, does this include the final negotiations regarding removing extra fees as well?
We don’t care if it takes 30 minutes or 30 hours. You will do everything correctly. Many “pre approvals” are not approvals. Capital one is famous for this. Also many credit unions do not give you a check. They make dealers fill out a voucher. If your dealer wants they have the right to hold the car until the credit union deposits the funds. We had a credit union take 3 weeks before they funded us. That’s 3 weeks they did not own the vehicle we do. And you are right. Customers screw up their own car deals. Bad driver’s license. No driver’s license. Lied on the credit app. Lied about the trade they have. Tries to put 20k on a credit card, Straw purchase or brings 20 grand in 5s and 10s But the biggest problem is customers lying. When I started 31 years ago I was astounded at the volume of lies told by customers. I thought dealers lied! But customers are the king.
Thank you Mike for the informative video! You are awesome and down to earth bud! 😊
My current car I purchased from a dealer 10 hours away. The entire deal was done over email/phone. I drove there to pick up the car and sign the paperwork and the dealer (BMW) kept me waiting over 4 hours. They didn't have anything ready, the finance manager was on vacation so the salesman had to figure out what paperwork they needed and print it all out. They actually had to get the owner to come in (Saturday morning) to write me a check for the taxes and cash back because I had to pay them through the financing but had to pay myself at the DMV. After 3 1/2 hours; then they decided to bring the car in a bay for a "final inspection", wash and shop vac. They knew I was coming for 4 days before. I was fit to be tied! Never again!
The fastest (and cheapest) way to buy a car is from a private individual. And you don’t have to pay some stupid “doc fee” and other BS fees.
Bring back the Chevy Nova years 1968 - 1972 updated with a 4.3v6 and 5speed manual transmission, disc brakes all around . . . . Stamp them, ship them and stage them at Chevy dealerships across the US for a starting price of 14 grand. More if you want a 4 door or a station wagon, something new they never did in the 60s 70s with the Nova.
I'm not sure if you have done this type of video in the past but I would like to see one on "The best way to buy a Factory Direct vehicle purchase" in today's market. I mention this as I'm in the market to do this and I want a very specific build and have not been able to find exactly what I want within a 500 mile radius of my location...and, no, it's not a Camaro. I already have that, but it is a Chevy.
Can you do a video on why cash is so bad at a car dealership?
Bring your credit card 3000 limited. Drive license, insurance card. If u want finance 650 above at least. Better not have mortgage. You need to know which specific car suv you want, 30 minute it's crazy. But it takes about 1 and half hours❤❤❤
Would be great to see a video about how to buy a car in less than 20 minutes. Kidding aside, great video.
From the legionary chevy guy to Mike’s Car Store love the process over the years brother
MAKE A VIDEO ON WHY NOT TO BRING CASH PLEASE AND THANK YOU
coming up on the @chevydude channel sunday!
I won’t negotiate on a used car sight-unseen. So I typically need to be there in-person to even get the ball rolling.
One tactic I use is to leave after the test-drive. Let them know I like the car but I’m not ready to take it home. Insist that I don’t care about the numbers and tell them I have to leave.
When/if I’m ready to deal, I’ll do that remotely.
Hey Mike, learning a lot from your videos! I understand you suggesting negotiating the deal from home. I'm assuming the actual process of looking a the vehicle and doing a pre-purchase inspection comes before going into the negotiation?
I've always done the negotiating in person. I go in when the dealership first opens and figure I will spend a fair amount of time there. Usually the first salesman you interact with is a newby and can't approve his own deal. That's why he keeps going back to his manager. Just keep low balling the out the door price with him. Eventually they are going to get afraid you are going to walk and the sales manager himself is going to come out. Now you have someone that you can directly negotiate with as he has authority to close the deal. Just be aware these are generally highly experienced people that know all the negotiating tricks. Never agree to a deal with your first sales person. They have not made their final offer until the manager comes out. The dealers try to wear you down with this farce of the first guy running back and forth and taking a half hour every time to make the trip. Usually just drinking coffee and watching you sweat. Just give me some one that has the authority to deal in the first place.
You can do the same on a computer from home....if you researched the car and know what good or great deal is on it is, you just do it from home......not to mention your in contact with 10 others at same time
Going in physically to a dealer, f that deal falls through than you start all over at new dealership....and just wasted bunch of time
I enjoy going to dealerships , they shovel out the BS and finance games for hours , then I get up and walk away …
I was in and out of carmax in like lesss than an hour on a low mileage cheap and clean used car. Was great and seemless. Literally 6 months later the car went way up in value because of covid. Was a nice win. F buying any car that costs a lot.
What do I do if I only use cash and do not intend to finance any portion of the sales price?
Hello! I am new to the channel and am loving it so far. One thing I woould like to mention is that things are vastly different here in Toronto Canada but still I have managed to piss off a lot of dealers (and I mean that in a good way). One thing I have trouble with is that the dealers here say that they will charge extra for paying cash and due to this, they force me to discuss payments without getting to the OTD price. Any tips for that? But everything considered, thank you for your tips and guidance. I didn't think I could ever negotiate the asking price being a shy person.
How much of this advice still applies if you're not going to do payments but rather pay it all at once?
All. Pay it off with cash a month after taking delivery. Easy.
I just bought a car in under an hour. it honestly took longer to drive there than it took to finalize the deal
I said give me OTD price, and then we talk how to pay
This was so informative even if not worried about getting out faster just the steps of preparedness was huge. My only thing is what about a good old fashioned test drive? If you think you’re mind is made up on a car what if you find otherwise bc the test drive doesn’t give the feels like it’s the one?
Mike, great video. And I agree with everything you said except for the title. Too many variables, flow of business, etc. Is it technically possible? Under the right circumstances, yes. But someone in Finance submitting out alone and hearing back with approvals can be 15 minutes or longer. So yah, if someone gives me a hard stop of 45 minutes or something like that; that's not business I try to earn. I'll do everything I can to get someone out as quickly as possible, but I don't guarantee in and out times and never will. Again, excellent video though :)
When I was 25 I bought my first new car at a high volume Toyota dealership, I had researched what a fair deal was and what interest rate I should pay. On my first visit I got to a fair but not a great deal at 7200.00. So here’s what I did, I let them write the contract I brought my pen to it and touched it and then said abruptly I have to think about this and left quickly. My plan worked they called and asked what they needed to do to make a deal and said if you lower it by 500 and will come back, and they did and at that time it turned a fair price to a great price. I have bought about 10 new cars and never did that again but at that time I had small children wasn’t making a lot of money and 500.00 was a lot of money for us.
I have had enough of those buying a car transactions where I was jerked around all day, I will never buy another new car ever again… so disrespectful, and just a nasty thing to do to people.
Don't bring cash? Why? What if you're planning on buying something outright and don't want to make payments?
You say don't bring cash, but nearly every car consumer advocate I've seen on youtube says to bring cash.
I negotiated the price on a 47k car and brought it down to 14k making the otd price of 33k. Couldnt believe i saved 14k
My last new car purchase back in 2009 went like this:
First I researched what buyers are paying for the car.
Then I got preapproved with Honda Financing.
I went to the dealership, picked out the car I wanted that stickered for $17,900.
I told the salesman I would pay $16,300. I also told him what I wanted for my trade in.
He tried to get me to go into the little room with the uncomfortable chairs while he spoke with the sales manager.
I said no, " I'm not sitting in your little room. You have 5 minutes to make this happen, or I'm down the road.
I remembered that I left my ice tea in my car and went out to get it. The salesman came running out as fast as he could run calling my name. He told me the price is approved.
When I got to the finance guy, I told him I am not interested in any add-ons or products he wants to attach to the car.
He wasted no time and wrote it up and I was driving out in my new car.
Take control and let them know they are not going to wear you down by wasting your time.
Never go to the dealership in the late afternoon because many people sign anything in a rush just to get out of there and eat dinner.
You stated 100% of car deals require my SSN. If I'm not financing, why do you need my SSN?
You stated 100% of car deals require my email address. I've never provided my email address during a car deal.
Smart move in that you got pre-approved, with Navy Federal Credit Union!
Get the OTD price and pay CASH Go to the manager of the Dealership and if they say no LEAVE !
Had all my paperwork together, found my truck 200 miles away, everything was in place, well, almost. Credit union made a paperwork mistake. 4 hours later after fishing my excellent credit, got a better rate with a bank I hate.
No matter what you do, never EVER give a dealer a down payment. It's blind robbery. If you have good credit, down payments are not required even if you're upside down on your current loan.