11 FAKE CAR FEES: DO NOT PAY in 2024 at New/Used CAR Dealerships - AUTO FINANCE: Kevin Hunter

CAR SALESMAN (EX) SHOWS HOW CAR DEALERS ARE FAMOUS FOR PADDING CAR DEALS WITH FEES! How Car Dealerships Rip You Off (The Truth). Protect yourself from the Recession 2023. Appreciate the Advice?

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The Homework Guy Chapters included in this video:
0:00 - The Homework Guy Team: Amazing Elizabeth with Kevin Hunter
0:15 - 11 Fake Car Fees you should not pay at a Car Dealership
0:51 - Car Dealers dislike informed Customers
1:24 - Two Rules to know about Dealer Finance
1:53 - The only legitimate fees you must pay at a car dealership
2:37 - The Finance Office is the Number 1 Profit Producer in the dealer.
3:25 - Don't Pay Dealer Prep Fees
4:26 - Don't Pay Dealer Advertising Fees
5:06 - Don't Pay Additional Dealer Mark-up
5:37 - Don't Pay Delivery or Destination Fees
6:12 - Don't Pay for Nitrogen Filled Tires at a Car Dealership
6:51 - Don't Buy Credit Life Insurance from a Car Dealership
7:12 - Don't Pay for a Vehicle Enhancement Fee in Dealer Finance
7:37 - The most commonly abused charges in Dealer Finance
7:49 - Don't pay for Window Etch Theft Protection at a Car Dealer
8:46 - Don't pay for Dealer Document Fees
10:10 - Don't pay for E-Filing Fees, Electronic Filing Fee, or Processing Fee
11:16 - Don't buy overpriced GAP insurance from a Car Dealer

THG didn’t give Car Dealers their Bad Reputation. For more than 40 years, dealerships have EARNED it by being the masters of predatory selling. They stalk victims relentlessly, often ruthlessly treating the most vulnerable car buyers (like seniors, for example) with little or no conscience.

With Titles like Don't Say I'm Paying Cash at Car dealerships, and Car Shortage Crisis, and Car Dealer Says Bring the Car Back!... The Homework Guy Team publishes videos to help Car Buyers. Then we added Cash Buyer Negotiations, and Held Hostage at a Car Dealership, No Haggle One Price Car Dealerships, How Much do Used Car Dealers Pay for Cars?, 10 Things You Should Not Say to Car dealerships, and the Costco Auto Program. We hit all the topics, and we represent Car Buyers.

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10. Using Carmax, Edmunds, TrueCar, Autolist, or Kelley Blue Book.
11. Buying a Car out of state.
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13. What to do if Scammed.
14. Illegal things Car Dealers can do.
15. Understanding Dealer Financing Tricks
16. How to Avoid Dealer Scams.
17. Reactions to Sales Training by Car Trainers.

Will The Homework Guy Team become the #MrBeast of the Auto Industry? Time will tell! We’ve seen amazing growth, and over 327,000 Subscribers and counting. Meanwhile, if you prefer to fix your current car, check out channels like Chris Fix or Scotty Kilmer! If you wonder where we get such brilliant financial ideas, watch the Dave Ramsey Show! But, if you just need to get lucky and be handed a wad of cash, well... see Mr Beast!

[Cissycute]

My brother is a salesman's nightmare. These are true stories.
Several years ago my brother (Mike) went to a dealership for a Ford SUV. When they presented the contract for him to sign, Mike starting crossing out some listed items. One was the destination fee. Joe (saleman) said he couldn't do that; it was the cost of bringing the vehicle to the dealership. Mike pointed out to him: "nobody else charges the buyer to bring a business their stock. That's the cost of you doing business." By the time they had reached a figure with all the crossed out items, Joe says "nobody would be able to sell you that exact SUV for that low a price". Mike then went to another dealership in another town. He drove out with the vehicle for even less then the one Joe said nobody could do. To add insult to injury, Mike drove to dealer #1 and stopped outside their entrance, flashing them the lower price invoice that "couldn't be done".

My brother was such a hard negotiator when purchasing another vehicle the salesman was all frustrated and said he wouldn't be making a penny on the deal. Mike was very persistent on what he would pay, pointing out these bogus fees. When he got up to leave, the salesman said he was the toughest customer he had ever worked with. And then Mike was offered a salesman job at their dealership. He said "No thanks. I have a conscience".
Sorry for the length but I thought this would interest those who have had to put up with the BS as is shown in this video.

[isettech]

My wife taught me most of this. She went with me to buy my replacement car for my junker. We told the dealer "we will take it" and went to finance where all this stuff started. She let him finish the spiel and state the finance rate of about 12%. She responded and said "No, the rate will be 4.5%" His jaw dropped and asked what she meant. She replied "I'm pre approved with my credit union, are you going to match, beat, or take a check?". Then she blasted off most of the fees. She was fantastic.

[vm]

If you don't leave with the dealer pissed off, you haven't got a good deal.

[paulcampise]

Tried being a car salesman once and soon found out how nasty our finance department was. Many of my customers walked because their additional fees made the sale unaffordable. I quit.

[deadlydavem]

I worked for a Honda dealer years ago and learned a lot of this. I decided I didn't want to go to hell so I quit.

[terrydunlap]

The last car I bought, they tried to get me to take out $2500 for "extended warranty". When I told them no, the lady said, "well, you never know. Next month the motor could go out, or the transmission could go out". I replied "if that is the kind of vehicles you sell, then I will go else where". She looked like I had slapped her.

[JavierSanchez-suej]

I like how you call out the dealer by name.. very important

[albertmoreno]

The advertisement fee reminds me of when my dad bought his new (at the time) 69 Dodge station wagon - when they brought the vehicle up front, my father asked them for $500.00 to keep the dealership license frames on the vehicle. When they laughed at him, he made them take the license frames off his car - because he doesn't advertise for free- they stopped laughing.

[stevericard]

NEVER EVER feel bad about standing up and walking out of the dealership. And they will follow you to the door berating you. They are not your friends and are not in any way doing you any favors

[romanoverlengia]

Hi Kevin, here's another fee to add to your list. Back in 2002 I was trying to negotiate the purchase of a 2003 Ford Expedition from Redlands Ford. I had the gone through the process and was ready to close when they refused to remove their $300 "Alarm/Disabler Fee" for a device they added to all their vehicles at the time due to vehicles being stolen off their lot. The salesperson stated: "The Alarm has kept your car safe for you so you need to pay it. I refused. Then they agreed to remove the device and waive the $300 fee if I paid a $100 removal fee. It was late at night so I walked out agreeing to return the next day. I later decided to pass on this vehicle over the alarm fee.

[davidpalmer]

I'm shocked YouTube doesn't ban you because you're trying to actually help people. Great lesson taught!

[sherrellbennett]

I saved out of my Social Security for over a year so I could buy a used car for my grandson when he turned 16. He and his dad did a lot of research on what car to buy and they found a perfect one at an independent dealer. We went to test drive and agreed to pay the asking price and then were told there was a $2000 fee for an anti-theft system they had installed. They refused to remove it. Said it was required with purchase. We walked out.

[beverlyeng]

I friend of mine [now deceased] was told it was state law that it was mandatory for document fees.  He reached across the finance persons desk and asked if he could use the F.O.'s phone and dialed a number.  He then handed the phone to the finance person and said "Here you want to talk to this person".  It as the State Attorney Generals Office, consumer fraud division.  The buyer was an attorney for the A. G.  Sure was a lot of stuttering right after that.  Then he took a red pen and started to draw lines through all the ridiculous charges.  The dealership never said a word.  They were so happy to get him out of there.

[AutoMotivatedTV]

1 - Dealer Prep Fee
2 - Dealer advertising fee
3 - "Additional Dealer Markup"
4 - Destination or Delivery Fee
5 - Nitrogen filled tire fee
6 - Credit "life Insurance"
7 - Vehicle enhancement package
8 - Window Etching
9 - DOC Fee - Don't pay more than $75
10 - Processing Fee or Electronic Filing Fee
11- Gap insurance (stupid car buyer insurance)

[slc]

Almost had my first sales person arrested for grand theft. She had taken my keys and car for appraisal for trade in. When she wouldn’t give me my keys and car back because I wanted to leave, I loudly announced that I’m calling the police for grand theft and began dialing. In 10 seconds I had my keys, the sales person removed from my sight, negotiated the price and terms I wanted, then added rear tint to my windows and a moon roof. I don’t play games like that.

[rogersiples]

I sat down with the finance officer and he started running down a list of charges not on the factory window sticker so without saying anything I stood up and left without a word. I had previously told him I would only pay what was on the factory window sticker. He lost the sale to a different dealership.

[WorldlyBudget]

TIMESTAMPS

1:28 TWO RULES:
1- NEVER say that you plan to pay cash until you’ve negotiated every aspect of the deal, have it all on writing and are sitting with finance.
2- NEVER ask to remove the fees talked about in this video until you are ready to sign.

The only legit fees you should pay.
1- Tax
2- Title fee
3- License fee

SCAM fees you will decline to pay:
3:31 “Dealer Prep” fees.
4:28 advertising fees, also aka “Co op”, or “regional” fees.
5:06 additional dealer markup fee
5:37 delivery fee or destination fee
6:12 nitrogen filled tire fee
6:52 credit life insurance
7:08 vehicle enhancement fee
*Most commonly used scam fees:*
7:48 window etching “theft protection”/patrol fee
8:45 “document” fee (don’t pay over $75)
10:08 processing fee or e-file fee
11:17 GAP insurance
12:41 don’t finance over 36-48 months and put at least 20% down.

Edit: Comment from honey badgerer: Do not pay for WARRANTIES!
P.S. The comment section is just as informative as the video.

[jimmybuen]

I’m not even in the market to buy another for at least 5 more years, but I’m thoroughly fascinated and appreciate these contributions to consumers. This industry should be regulated more to reduce the fraudulent practices.

[gregkeene]

Several years ago I was helping my fiance buy a car in SanFran. Her 3 boys were with me and wanted to be important. After test driving the car I told the salesman I would give him $23500 for the car. Good discount and he made money. Salesman came back with a contract that had those fees added to my 23500 offer (about 4500). I asked if he understood English and when he said yes, I reminded him I would give 23500 and how he divided it up was up to him ( all those fees you list). The look on her son's face and on the salesman was priceless. Said he had to charge those fees by a state law. I laughed and said, let's go there are other dealers. Her son's were aghast until the salesman chased us to the car and said the manager wanted to talk to me. If I promised not to tell, he would meet my price. He still mssde a profit and we got a good price.
If you are not prepared to walk away, you can't negotiate.

[gobbletegook]

When I bought my car in 2017, the dealer finance rate was 6.99%. I went through most of the things listed....no, no, no, no, and so on. Almost at the end, when it came to financing, I told him that I had already gotten preapproved at my credit union for 2.99%. Suddenly, the finance guy said that the dealership could meet that. Told him sorry....to late...that he should have offered it two days earlier when I first talked to them. He had those sad little puppy dog eyes.