| Название | : | CASH CAR BUYERS CAN OUTSMART DEALERS IN 2023 USING THEIR OWN BUSINESS MODEL Part 1 The Homework Guy |
| Продолжительность | : | 12.51 |
| Дата публикации | : | |
| Просмотров | : | 250 rb |
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Public Service Announcement! Lenders are prohibited by law from charging a prepayment penalty for an auto loan of 61 months or longer So, when using this method, focus on a payment plan that's 66 - 72 months This guarantees there is no pre-payment penalty! Comment from : Kevin Hunter The Homework Guy |
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Can u negotiate the asking price of a used car from a dealer Comment from : Keith Jones |
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Great job guys 👍👏🏻👏🏻👏🏻👏🏻 Comment from : Santino Marciano |
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This method still feels dishonest as a cash buyer I don't even want to play with the snake that is signing a loan deal, even knowing I'd plan to pay it off immediately They are just going to sneak something in there, so I don't even want to play the game Our credit is now indeterminable since the last mortgage payment from 10 years ago just dropped off so I'd get screwed somehow there If it doesn't screw them over knowing the risk of a cash buyers paying it all off after the fist month, why can't they just acknowledge the same deal with an actual cash at the beginning rather than playing that game Wouldn't a cash deal be the easiest 15 mins of their time spent and a guaranteed revenue and throughput generator? It would take more time ordering the car and bringing it around than it would signing the paperwork They may not make as much, but they also don't have to spend nearly as much time and effort on the sale Comment from : Matt G |
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By paying the full amount of the dealership's car loan right after getting the car, do I need to pay a certain amount of interest? Comparing simple-interest rate or precomputed loan I look forward to your answer Comment from : Jose Arauz |
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Do loan applicants have 3 days to rescind the loan? If so, That means you’d simply walk back in with a check and pay no accrued interest Comment from : habba dabbado |
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What advice would you give a retired guy with the ability to pay cash for a specific car that is in pretty high demand? Comment from : Drue Gillis |
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What is the best way to determine a good out-the-door cash price for a given new car? brbrI need to buy at least two cars and I’m prepared to pay cash I’m leaning toward new unless the used market seriously finds its sanity Comment from : Hrfd2022 |
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What a bunch of bull crap, like the dealer hasn't seen this weak plan 1000 times! Comment from : David Leonard |
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I did that on my last car purchase I also looked on line for cars, (new), and was offered a deal on the exact model but the dealership was quite a ways away When negotiating I brought out the email offer and told the finance guy to beat it or I will spend the gas He beat it, I took it home and paid off the financed loan Comment from : John Schroeder |
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I heard Toyota is doing away with their dealers and selling direct to the customer We are winning the war Comment from : Tony Stormcloud |
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No You tricked me You are assuming the buyer has a credit history You're almost as bad as the dealers Comment from : R Arbuckle |
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Kevin and co, Im gonna buy that T-Shirt, "Is that the best you can do?" !! Comment from : Paul Lebrun |
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I think this information is super useful and awesome I'm a little puzzled with the production quality of these videos though, in 2023 Comment from : Nate Clay |
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no no noat the end, tell them you are paying with cash dont let your credit, your finances be trapped with interest Comment from : brad hagen |
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How about tutoring us about facing the finance person for all these add on like extended warranty they even have one for windshield and key fob coveragebrI ALWAYS negotiate a 3rd keyfob in my negotiations ( Honda charged me back in 2010 $750 for a new keyfob) brPlease help w extended warranty Comment from : nofeerz |
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Its a shame buyers have to play a game at all Ford is so pissed at their dealers they have put ALL electrics online fixed price purchasing & they are thinking about doing the samebrfor all their vehiclesbrbr! Comment from : OURv |
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Even if you negotiate a great deal and initially finance, my understanding is that car loans don't work like home loans W/ the car loan the full interest is due on the note whether you pay it off the next day or the next decade Is this correct? If so, is there a way to avoid that? Comment from : TheBlackToedOne |
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Great video! At what point would you bring up a trade in? Thanks Comment from : Bob Glynn |
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I am so thankful to have found your videos My husband passed away last year He was the car buyer and mechanic in our home I am wanting to replace my 2008 Odyssey with a newer one, but I have not been looking forward to dealing with a dealership for all the reasons you point out! Thank you for all your help and information! I'm going to keep doing my homework!!! Comment from : Loreen W |
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I'm looking for a used car, between 25-30K With your strategy, do you put money down? Also, most dealers now tell us that they are priced as is and there is no negotiating anymore If they won't budge on the price, don't bother with the fake financing, correct? We are in Minnesota Comment from : Cheryl Johnson |
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It's no wonder why people hate having to buy a car from a dealer What a ridiculous process you have to deal with It completely turns me off My car is 19 years old and, because of the dealer process, I have no intentions of buying another one any time soon! I am really hoping the dealerships end up going away and we can buy a car directly from the manufactures as easy as buying a loaf of bread Thanks for all your videos as they are eye openers to the disgusting methods of the dealerships Comment from : Rob-442 |
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🌡️🌡️🌡️🌡️I have $30,000 in cash money How would I do this with straight cash money I want to buy a new Acura someone please help me because I don't want to get the 1088 form from the IRS I have saved this money forever My credit isn't good it's not bad but it's not good Comment from : Wendy |
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I wish Tesla’s business model was adopted by the other manufacturers Comment from : Deuce Dufresne |
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Why can't I just not sign the loan and hand them cash? Comment from : James Kelley |
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I went to my local dealer today Bought half a pound for $125 Is that good deal? Comment from : Harry Rigorous Johnson |
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I wish you would could come with me to negotiate my car I suck at this😅 Comment from : Sierra Sky |
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Kevin gave up too soon when Elizabeth said she didn't want the appearance package One dealer told me: "It's already installed, we can't take it off (vehicle etching) How do you handle "We can't take it off"? Comment from : UsedToBeRed |
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When i was is the car business i would give my absolute lowest price to those who financed because i could make money on the back end from the finance company and just tell the customer to immediately pay it off when the 1st payment is due If you just paid cash you would not get the best price Comment from : The Bed Doctor |
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Thank you for the help 😊 Comment from : Donna R |
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GREAT VIDEO Comment from : Tom Zambeck |
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Care dealers are simply the scum of the earth Comment from : AizersBoy |
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1980 I was 18 and went to a dealership with $5,000 cash on me and a guy who worked with me and was 40, we looked around and found a just 2 year old 1978 Z28 with 18,000 miles and it was literally driven by a little old lady and looked brand new, I told Fred I wanted that car and we told the dealership, we asked how much and the dealership said $4,000 I guess thinking I was financing it?, we went inside filled out paperwork and after all that the guy says "so which bank are you financing thru?", I pulled out my $5k and said cash, which got a very strange response from the dealer because as Fred said they expected me to finance so the car price was lower than if had paid cash which Fred seemed to know all about and got us a good laugh as I drove my Z28 off the lot for $4,000 Comment from : Neon Skys Productions |
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What do you do if you want to pay cash BUT your credit sucksreally sucks?brFilling out an app and letting them run a report won't do that person any good, am I right?brWhat to do? Comment from : Carla Williams |
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Great video Haven't bought a car in a while so it's like riding a bike all over again Question on FICO scoresbrIs there any FICO score advantage/disadvantage if I payoff the loan within the first 6 months? Or if I pay all cash at time of sale? I want to put my daughter as a co-signer on the loan just to get her a good FICO score on this transaction I really don't need for her to co-sign Thanks in advance Comment from : M L |
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To my understanding, a lender might refuse to refinance a car if the current loan is too new, or if the current loan balance is too low or too high So, suppose I took the finance program offered by the dealer, and the payment book arrived in a week At that point, if I want to refinance it through my preferred bank, shouldn't it be a red flag to the refinancing bank as they might consider the loan as 'too new?' Can you please clarify on that? Thank you Comment from : Shubhra Deb Paul |
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If you pre-qualified through your CU, wouldn't the dealer see that when they run your credit report? Comment from : Dan Nisnisan |
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what about ! delivery processing / handing Its from TOYOTA do we pay it Comment from : David Tharp |
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Hi i was just curious in the video you said pay the car off in one payment once you get it in the mail If financing and having all the cash Could I pay the car off lets say in three payments within three months 10k each month, would that make any difference in price? I didn't want to raise any weird suspicion coming into my bank with 24k cash for a new vehicle Comment from : Neeko Rodriguez |
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What kind of car does Mary Jo drive? ha ha ha Comment from : Pt Smith |
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AS a dealer this is good advice, The junk fees and packages have to go! as for dealership employees it makes them unhappy because you just took money out of their paycheck because of the chargeback brbr Many of the lenders now pay dealers flats vs points on loans Routinely we get customers better loans than their own bank It does cost the dealer and the Bank money to draw up a loan brbrGap is a good product, with today high prices and insurance not wanting to pay market value its cheap protection (should cost between 500-900)brbrWarranty is good if the car does not have bumper to bumper or its about to expore Repair shop prices have sky rocketed the last couple years $2500 bucks use to get you a new transmission or even an engine, Now oil leaks and CV axle repairs cost 1500-3500 at most repair shops A good warranty is $2700-4000 the extra 40 Bucks a month on the payment is easier than out of pocking 2700 bucks for a bad ECU 2 and a half years from now Comment from : Autorama Auto Sales Of Dickinson ND |
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Nice ! You tricked me with this strategy Comment from : buford guber |
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How can you ensure how much you are going to pay monthly if they do not know your credit level?brcan you do before running credit? Comment from : donays |
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Can you talk about precomputed interest loans and how to determine if you are being offered such a loan? What are the things to watch out for? In a precomputed interest loan there are no benefits to paying off the loan early Because interest is worked into the cost of your loan, paying it off early won’t reduce the amount you owe Comment from : ricomajestic |
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Good plan, but my credit is not good I can't let them run my credit I'm going to do my best to let them think I have financing already set with my bank Hopefully I can get them to give me the out-the-door price before push comes to shove Comment from : Growing With Grandma |
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Excellent thanks Comment from : Gregory |
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I currently own a 2020 Chevy Camaro that has a value of $27000 with However, I still need to pay off $12800 for it so I have positive equity My intention is to trade it for a 2023 Cadillac CT5 Can you please advise me on what to do based on your experience? Comment from : SmayL LA |
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Very good 👍 Comment from : Brian Curran |
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Just don't take your car back to that dealer for service or warranty claims Comment from : -- |
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If the extended warranty is not too high a price ,it sure comes in handy if you want to sell it in a year or twoA lot depends on what you want your vehicle for and how long you plan on keeping it Comment from : rick woods |
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This is why traditional car dealers are doomed, the whole business model needs to go away This sort of battle is absurd in the extreme Comment from : Tech Deals |
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Dealers have to be furious at you guys for posting videos like this How are you going to buy a car now after you are celebrities pretty much? You are doing a great service to us consumers! Thanks! Comment from : Kenneth_R |
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Great video A link to Part 2 would be nice Here it is: youtube/05JwJb7GmQ4 Comment from : Stephen Murgan |
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Do you pay tax on rebaits Comment from : Robert Rak |
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This approach to paying cash is legitimate and usually is appropriate But at the time if you are also applying for a mortgage, the sudden appearance of a car loan can cause your mortgage underwriters to withdraw their offered financing Comment from : Bill Hollinshead |
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This sounds easy…too easy…😅 Comment from : Christian Gutierrez |
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I've gotten great deals by negotiating with the dealer on the out the door price I am willing to pay for a vehicle which includes taxes, fee, etc I always check the contract in the finance office to ensure my out the door price doesn't change to anything other than what I am willing to pay You guys are awesome for teaching the average consumer how to protect themselves from these greedy dealerships Comment from : Rafael Hernandez |
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I thought I remember a video of yours that said that you don't discuss financing with sales people I only discuss it in the privacy of the finance office Is that approach still valid? Also, if you've already negotiated the out the door price with sales, can't you walk into the finance office and just tell the finance officer you're going to write a check? Comment from : Ukiahs guitar solos |
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When was the last time “Elizabeth” purchased a new vehicle ?? Comment from : John Q Citizen |
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Started watching your videos Found a car Got down to the nitty gritty Looking at the deal I saw a charge for 1198 dollars I said what's that Windshield wipers and oil change Lol Of course I had that removed I even asked the sales guy when we were test driving what was going to be added to the price we had negotiated he said tax was all Lol Thanks Comment from : James Arendale |
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gave up at 3 minutes Comment from : Chris Hagreen |
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What can you do if your a cash buyer with bad credit Comment from : chris brown |
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Used pretty much this technique back in 2017 when I bought my truck At the finance office, after rejecting all the add-ons, I pulled out the check for the full amount The finance guy did a complete 180, oh was he pissed Got a great deal on the truck Ended up paying only around $100 in intrest in 6 months using a home equity loan Comment from : sdpumas619 |
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Thanks so much I wish I had known this before recently signing They mislead me by telling me there's no penalty for prepayment but they pre calculated the interest in the finance option I chose and I didn't notice as I was full of anxiety and felt pressured to sign I didn't get the vehicle yet and didn't finish with the finance officer about other extras they are trying to sell me, do you think I can still back out of the financing part of the contract and renegotiate? I feel so betrayed and mislead Comment from : Cheryl M |
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Thank You Your Great 👍 Comment from : Denise Bernard |
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My favorite bogus charge when I bought a used Lexus from the dealer was the "nitrogen-filled tires" When I read this on the form, I started laughing loudly and the loan officer's face actually blushed when I said, " WTF" is this shit? He replied, well some customers want this included I got a great car with ZERO extras and paid almost 3k lower than the advertised price since it was a Sunday evening an hour before closing on the 31st of the month I actually was in the dealership 45 minutes past closing with another couple Comment from : SunshineDaydream |
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I just look at the sticker and tell them what im going to pay Comment from : toordog |
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In addition to what you've said I find financing to be a more convenient way to pay for a car purchase I usually don't keep much more than the money I'm planning on needing for a couple months in a checking account The rest is usually in a money market account, which takes about a week to get access to Pay a minimal down payment, take the loan, and by the time my payment book arrives the money has been transferred Comment from : Right Wing Safety Squad |
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Sounds great for those who can get finance What if you have bad credit? Comment from : Greavsie 1072 |
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In 2022 a Nissan dealer in Bloomington, Indiana told us that if we didn't finance with them they wouldn't sell us a car, any car This is after we drove down from Indy two days in row trying to buy a used 2022 Armada It was lie after lie and they worked hard to wast or time Save yourself a bunch of grief and only buy like new used cars from privet owners To prove my point, months ago we bought a like new, one owner, 2010 Mercury Grand Marques with only 23,500 miles that has been indoors from day one We also bought a 200 series Land Cruiser that is absolutely beautiful after our failed attempt at the Armada last year Skip the car dealers and do yourself a favor Comment from : Large Larry |
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Hello Elizabeth😘 Comment from : Edwizard62 |
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I control the deal or there ain’t no deal Dealerships are like rigged poker games but they can’t make you play Comment from : Jimmy Cain |
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I thought most already worked dealers this way Comment from : Kidney Kayaker |
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LOVE THIS!! Comment from : L |
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That passes for good advice???brDealer has financing charge built into the price Refinancing means you just pay them the interest prematurely in bulk Comment from : Quentyn73 |
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