DO THIS INSTEAD in 2024! (Best New/Used Car Price Strategy) Kevin Hunter the Homework Guy

Want the best price on your new car? We start today by talking about how you can avoid negotiating your next car deal, and yes, if you’re not a skilled negotiator, you should avoid it. Sounds counter-intuitive, right? But that’s what we’re going to do for you today. Next, we move on to 6 key steps you need to get right, or you lose!...
At this point, we are assuming you've already done your research and narrowed your choice of vehicle down to one or two very specific models, and are ready to make the purchase, other than doing some a little ground work first.

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Step#1 Gather Automated Price Bids First
Everyone is looking for a quick and easy way to get a good deal. Unfortunately, it does take work and effort to guarantee the best price, but this first step is so simple and it will take you 80% of the way towards getting the lowest price on a new car. There are many services that let you get free price quotes, but most are not worth your time. Included in this video are our top recommendations for automated price quotes. Unfortunately, many car shoppers will stop after this first step, because the rest of the steps require manual work and can take a few hours to complete. This is fine if you just want a fair deal and are not willing to spend a ton of time to get it. However, if you want the guaranteed lowest price on a new car, you need to complete all of the steps we've outlined.
KEV: Start with TrueCar TrueCar is one of the few car price quote services we do recommend using. We have covered them before, but a lot has changed since then. Truecar does provide good upfront prices most of the time; so much so that dealers started a backlash against the service, pressuring state legislatures to outlaw it. They were afraid TrueCar was going to take all the profit out of their cars. Anything that gets dealers this upset is definitely a good sign for car shoppers.
To see the TrueCar price (which is free), you'll need to select a vehicle you want, then click on the button that says "See Actual Pricing". You then fill out your information to see which dealers are offering discounted prices through TrueCar.
Next up is CarsDirect which is also another reputable free service that's been around for decades and has a large network of dealers ready to provide price quotes. We will link both of these sites in the description box below.
Step #2 The next step is to manually locate All Nearby Dealerships
While the online price quote services can save you time and money, it's not guaranteed that all dealers in your local area are participating. You want to make sure you have at least 7 price offers from different dealers, right? These will include some manually collected prices.This means you'll need to locate and contact additional dealers near you, and in a moment, we’ll show you exactly how to do it, and what to say. Depending on where you live, you may only have one or two dealers within an hour's drive, so you're going to have to increase the distance until you get to a list of at least 15 dealers to contact. Yes, some of those dealerships may be hundreds of miles away, but if you still want to get prices for the purpose of leverage against your local dealers, you’ll have to do this. You can find each dealer's contact info by doing a google search starting with the brand of the car plus a dealer name like this example “Toyota dealer near me.” You can also visit manufacturer sites and look for links that say "Find a Dealer", or "Locate Dealership". They're easy to find that way.
Step #3 Here’s where the rubber hits the road. You’ll need to Get Price Bids From Remaining Dealers
Up until now, we've given you the low-hanging fruit. It's quite possible the best deal may end up being through an automated service like TrueCar, but if you want to be positive that you're maximizing savings, you need to do some more work.
It’s true that TrueCar has thousands of participating dealers, but not every single one is currently using their service, so you're going to have to contact the remaining ones the old fashioned way.

[mrkoolio]

Back in the day, my dad wrote every dealer in Los Angeles that sold the type of vehicle he wanted figured out what their cost was and he added $500 and he told him that if there was one month where they needed one more sale to make their bonus or whatever that he was ready and willing to go.. He got a bunch of calls but he didn’t waste a lot of time with them he just said my offer is in the letter it’s a take it or leave it and most of them went away but one guy said I can’t do it right now, but if you’re still interested in a month or two I think I can do it at the end of the month when I need another sale. My dad told him to give a call whenever he was ready showing up to much later on like the 29th day of the month the guy called and said I have your car and actually it has a few extra bells and whistles on it which I’m not going to bother asking you for more money because I know you’re not going to do that so bring me a check for what we have a greed and the car is yours my dad went down and got the car that day old school

[zzzzzsleeping]

It's hard to get many car dealer prices. The cars do not always have the same trims.
The best way of buying a used car is buying from private ownership.

[bellsu]

This is spot on! Thank you for explaining this process so well and giving me the confidence to do it. I did just as you said on a 2024 Honda CRV Hybrid in the Pacific Northwest - a difficult and limited market on a car that's highly in demand. Most dealers wanted to get me into the dealership and nearly all of them had their set add-ons and they wouldn't negotiate. But I stood firm on getting an Out the Door price via email. Color choices were limited because of supply but one dealer offered what they had at MSRP. I purchased a car that had just come off the transport truck, still had tape on the door handles, with NO dealer add-ons. I saved at least $2500! Thanks again for the advice.

[gravewolfwood]

You’re looking healthy, Kevin! Glad to see you’ve recovered.

[chriscoogan]

Used TrueCar through USAA when we purchased our 2015 Toyota Sienna. The local was not a participating dealer, but was willing to match the price of one. Of course, they tried to add a spurious $250, but we held firm until they removed it.

[josephkelleher]

If you have a reliable vehicle the best thing to do is buy NOTHING. Keep your vehicle as long as you can. With all cars still way overpriced this is common sense.

[terryharrison]

Thanks for your information it saved us at least $4, 000 on our last purchase.

[williamhill]

Great video Kevin and Elizabeth! I found your techniques are true because I have personally used them to buy my last couple of cars. This time however I permitting you, Elizabeth, and Stuart to make the deal of a new car for my wife. So far I have enjoyed working with Stuart very much.

[patriciavanegmond]

THG channel delivers THE BEST content. I've watched others, but only trust you. Thank you for helping us.

[briguyinsi]

My last lease was like $140 a month cheaper because the dealer drove it for 3k miles. Wtf did I care, the clock on mileage didn’t matter to me, I still got the 36k miles so it had to be under or at 39k when I returned it. I always try to find some sort of edge on every lease, why not, if you hit up enough dealerships there always seems to be some situation that can be to your advantage. Only thing is, you have to be willing to walk away or be patient, let them chase you down if they want your $. You’ll even get calls near the end of the month if you can just wait it out. I’m in the process right now for a 2nd car, been shopping around a month and the deals are getting slightly better every couple days.

[danc]

Fantastic video guys. I think there are a handful of great tips that should help the buying experience be less painful and hopefully to get the best possible price. Keep up the solid work Kevin and Elizabeth!

[ChargeWisely]

This strategy is probably fine for new cars that is available everywhere. Do you have a suggestion when I already narrowed down the pool, say X model year, Y trim, Z options with specific color? It would b be the case that in 300mi radius there are probably 2-3 fits the bill, once in a while.

I know the short suggestion is to loose up the requirement a bit and widen it up, but just wonder if there is any trick.

[johnscates]

I tried shopping Lexus dealerships and was told by several dealers they are not allowed to sell outside of their region.

[beltycat]

I still like watching our old friend Steve - it's amazing some customers must believe

[todd]

I followed this advice and advice from the woman he had on. I watched a video last night, bought a car today. The car was $30k, plus fees and other no-tax fees..it came to over 32k plus change. I walked away paying 28k for the car!!! Out the door. Listen to this guy, he knows his shit!

[forthelulz]

We bought a demo car and it was the best decision. The car had about 5, 000 miles on it, so they had to sell it used. We saved about 10K dollars off the new car price. I wouldn't balk at buying a demo car.

[greggpurviance]

Would work great on new cars but you didn't really talk about used cars. There are only 3-4 cars that I'm looking for with in 150 miles.

[derfman]

If a dealer did the "car is no longer available" crap with me, I would just say "And I am no longer available for your business".

[davedave]

Buying a depreciating durable item should not be this difficult in this day and age.

[JM]

Soon to be back in the car market. Need to rewatch many of your videos!!