5 Ways Car Dealers Rip You Off (And How to Avoid Them All)

5 Ways car dealerships rip you off and how you can avoid them all.
(I may be compensated by LightStream through this link)

Car dealerships can be very profitable depending on the types of customers they sell cars to. You can either be the type that gets ripped off at the dealership, or you can save a lot of money with an understanding of how car dealers make money. Just like any business, car dealers need to make a profit, but not to the extent that you have to pay full-price for everything. I’ll cover how car dealerships rip you off and these include the service/parts department, the price of cars and trades and the financing office. So if you’re buying a car or you need service done, this video is all about saving you money at the dealer. Enjoy and please share!!

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#honestfinance #carbuying

[gemmaniye]

I watched your other vids before I bought my first SUV. I used your tactics, especially negotiating, and got a great deal! Thanks for all your advice!

[NaamWynn]

17% interest rate on your first car? Ouch! That's a painful and expensive lesson. You live and you learn.

[JimmysJunk]

I didn’t like the dealers rates with my perfect credit so I got 2.5% for 5 years at my local credit union. Always check credit union rates!

[MoneyGrowthAcademy]

Great video, as a dealer with 17 years of experience, I thought it would be worth it to make a video going over some of the tactics used in the industry from the point of view of an ACTUAL dealer. Hope you enjoy some of the points we made 👍🏽

[HonestFinance]

Thanks for watching!! Did I miss anything? Let me know in the comments 😎

[allaboutjones]

Thanks a milli for your vids. Just bought a car yesterday. Your videos gave me understanding of what to expect and watch out for. It’s hilarious how they try to move numbers around like I don’t understand math. They want you to focus on monthly payments rather than price. Thanks 💯

[TruFinancials]

The monthly payment trick is a big one. They truly cab manipulate that to work for you, but it will cost you!

[RealLifeMoney]

We definitely live and learn. I learned that every single warranty, like you mentioned, is not always necessary. If you are able to save more than what the part would be worth then the warranty wouldn't make sense. Same thing with the financing. Its good for credit, but we should always be putting something down for the loan.

[odbo]

I liked something that isn't in these later videos which was present in the prior videos on negotiation (which causes a lot of anxiety for even the most confident). "Just do XXX and you will be just fine." You said that in most of the 2018 videos and I think it is a great technique, especially because it was repeated once at each of the points you were making where a person may have to do something they weren't comfortable with, or be aware that they are vulnerable during. Creating the "beat" of warning/reassurance is something I miss from videos like this one. I hope you consider incorporating it back in, I think it was very effective.

[harangadsingh]

Don't stop doing these videos bro. You really are great at it :D

[tthaas]

Great video; I get it. Give the dealership as little information as possible to keep them from yanking you around, and remember that everything is negotiable.

[ttlee]

I got it! I especially like the tip about gap interest, and non-mandatory fees.

[mateo]

I got it! I’m a while away from buying a car but I like watching your videos to gain any edge I might need. Thanks :)

[samuelorozco]

Solid advice, very well explained! Thank you for your help, Jason. I am studying up as much as possible before walking into a dealership to negotiate the best I can.
Small point of feedback - sometimes I have to go back a few seconds to rewatch what you said, simply because the pacing of words is too fast. For those of us who are a little slow (lol me), making a few more pauses to let your point get across would help immensely.

[jackieboo]

I got it! Thanks going tomorrow to trade in my car! I got so rid off 3 months ago so now I'm doing my homework!!!

[christopherchristy]

Found u just in time sir!!! Bless u indeed!

[indian]

Some dealers charge exorbitant fees for filing for titles and registration with the state's dmv. This is just another profit center for a dealer. Customers should insist that a dealer be very specific in identifying all fees that will be charged. This needs to be done before there is even a verbal agreement to purchase. Thousands are often left on the table trade-ins. Dealers consistently low ball the value by offering only "trade-in" value rather than "retail". They also downgrade the condition report even when the auto traded is in excellent condition. I'm a senior and I still learned the hard way.

[LocalFiveGuy]

We are going to be looking to buy a new car soon. My wife said that to negotiations with the dealership will be a lot different, because of the COVID-19 pandemic. I would appreciate it if you could please make a new video explaining how to negotiate during the pandemic.

[dadgummit]

This world is full of scammers. Hard to trust anyone.

[taylormcguirt]

your videos are so helpful! I'm going to buy my first car tomorrow and I will definitely be using your tips. Wish me luck!