If the Car Dealer Says This, DON'T Fall for It (3 Questions You Have to Ask When Buying a Car)

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Today Kimberly joins Ray and Zach to share 3 questions you need to ask when you're buying your car, 1 tip you need to know before you head into finance and insurance, and 1 BIG LIE all car dealers tell you. Plus, we'll give you an update on Roger's story in Idaho.

[vtc]

If enough people refuse to comply with this BS, dealers will change.

[jamesberrio]

Congratulations to you guys you're doing great job educating the comunity against the dealership evils

[segt]

I went to look at a used 2018 Ford F-150. The dealership doc fee was $899. The "accessories" totaled $1500 (+taxes). I told them I did not want those accessories and they said those are included on all the cars they sell and were essentially required. They told me the vehicle was priced to accommodate the condition of the vehicle and were being up front about issues, yet I found something wrong with it within the first minute of sitting inside the vehicle and they were aware of it. They insisted I ignore the broken item and talk numbers anyway. After they gave me all their numbers the price of the vehicle was $5000 over their list price. Granted I know some were taxes/tags/registration. My point is they would not even work with me on price and fixing items because they knew they would get a sucker on the next person interested in the truck.

[doctornebula]

Just looked at leasing a Stinger GT1 and asked the dealer in FL to be upfront with all parameters including the money factor. They emailed me all that information and then the salesperson called to tell me they were marking up the price by $4500 to recoup losses from low-volume selling in the current market. I asked why that wasn't reflected on their website, and his response was, "Kia designs our website." I don't think that's true because Kia dealer websites are highly variable in appearance. I told him the car has been on his lot for just over 90 days and to text me in two months went it's still on the lot and he is willing to go with MSRP. This is despite me being a Kia customer for the past 3 years and being willing to finance through KIa Finance again. Customer retention concepts are out the door now!

[terrypearson]

I give notice to a salesperson they get one chance to give me their price out the door. Not playing tricks. Know the value and msrp. Know the market fair price and have finance set up. There is always another dealership online now. Stand by your statement and walk out if need be.
They always call when I get home.

[djboostin]

The dealership model should be abolished.

[alwaysbetruetoyou]

There may have been a handful of issues with carvana and others like them however car dealers rip people off constantly. I have witnessed someone trade their vehicle in, go home with a car only to have the dealer call and say bring the car back you weren't approved however, the persons trade in was already gone! I have seen a dealer selling vehicle he knew was crap to a young girl. The car died a couple days later and all the dealer would say to her was Oh well make the payment or get sued. So, while some want you to believe that going to a dealer means you won't have to deal with things like you may with carvana and others like them, there are plenty of issues with dealerships as well. So, be aware of both types of purchasing

[cordelearts]

14:22 — As an attorney, I have two opinions on the Dealer's contract of you have to pay 2 months v. the Sales Agreement. At this point we can all agree the Dealer is acting as an agent of the finance company so the Dealer is technically binding both entities to the deal.

1. My first thought was which contract was signed first? If the Dealer's contract was signed first, then the Finance company will overrule with the "No prepay penalty" and the Buyer could easily argue that the clause that usually says "All parties agree that there is no other contract" will essentially override the previous contract signed minutes earlier.

2. My second thought is when there is a contract that conflicts, its held against the drafter of the contract — not the other party, thus the Buyer will prevail here for not paying.

3. Based on my theories of #1-2, the Buyer will prevail in Court, or it will unenforceable.

4. One could argue that the Dealership is creating fraud against the Finance company, and the Dealer should be in jail for Finance fraud.

[TomLloyd-]

I haven't bought a car from a dealership in over 30 yrs . . . and I have absolutely NO recollection of the process. Now - I am ready to purchase a new car from a dealership and I will be paying cash. What is the best way to simplify this process. Ideally . . . agree on an OTD price . . . pull out the ole checkbook, write the check . . . and take the keys and scoot. . . . ? ? ? ?

[DMac-uvbl]

Great video I appreciate all that you guys do. Kimberly teased at the beginning of the video about buy-rate but never elaborated or explained best practices, etc. for instance as a consumer if I asked a finance manager what the buy rate is would they legally have to divulge that information? How would I as a consumer find that out? What negotiating tactic could a consumer use? I would love for her to offer this. Perhaps there was another video on this that I missed if that’s the case please kindly direct me to it. Thank you

[richardrowe]

Last year I wanted to return my leased Subaru to the dealership where I originally leased it. They wanted a $1, 000.00 return fee. I ended up keeping the car and writing a check for the balance owned on the car. I definitely think I did the right thing. Oh, I have another Subaru I released through the same dealership and did the same thing. I have two relatively reliable cars and no car payments? Lastly my two Subaru vehicles have gone up in value!!!

[Lucy_Bayard_John]

First rule: before you sign anything, always be ready to walk out! Yes Sir, that is my way of thinking! In Quebec, Canada, we can consult a registry (RDPRM) to learn if a loan was inscribed to that vehicle!!!

[pl]

So proud of your extended service contract, 6mos later you raised the price 20%. I always have to remember I'm listening to car salemen. Instead of selling YOUR PLAN to help the consumer, how about just telling them that the same companies will sell direct to the comsumer without a middleman saving the consumer hundreds if not thousands!

[kiwirabbit]

Why are the regulators not stepping in, and stopping this? If a dealer is pulling this stuff, can they be prosecuted? If the dealers start getting fined, they will stop it.

[Upracefan]

If the F&I salesperson is too pushy or just makes you feel uncomfortable, just get up and walk out, or better yet, accept everything they offer, then call the next week and cancel all of it, nothing pisses them off more than having to return all of that profit!

[josefernandez]

I just spoke to a Lexus dealership about factory odering an NX350h, and was given a quote of $2500- 3k above MSRP. Was told that it didn't have anything to do with the chip shortage but that this is going to be the norm when buying a high end vehicle from now on. I said no thanks. I'd rather donate the extra markup than give it to those vultures.

[Still-Learning]

Dealerships could not pull off these "magic tricks" if the consumer was more aware of how the tricks are performed.

Kudos to the YAA team for arming the consumer with the verbal judo to develop self respect and to protect.

[_dj_dubz_]

can't wait until traditional car salesmans job goes the way of the maytag repair and milk delivery man lol

[Relayer]

Interesting video. I was shopping today for a Kia Telluride. One dealership didn't have one like I wanted, but they had some on the way. Problem is, the cars on the lot have some BS protection pkgs, adding $5k to the price. So, the cars in transit do not have these BS pkgs, but I don't have the option to buy w/o them. I can buy one before it arrives, but they WILL add the BS and I have no choice in the matter. Almost criminal, in my mind. The problem I have is that I have to have a car asap, there are only so many dealers, and a 2020 Telluride sells very quick after hitting the lot. Unfortunately, you can be well prepared with knowledge, and willing to work hard in negotiating, but the dealers hold the cards, right now, and they know it. (A little added info... I saw one at 1030am today, left eat lunch and visit another dealer. I called the first dealer back at 2:30 to arrange a test drive and probably buy... car already sold. It's tough times for people who need a car, especially if they are selective, at all)

[oldfordman]

What I'm running into is the dealership won't negotiate down from the MSRP they are offering more for my trade than I paid for it so that helps. But I'm working to get my payment the same or less than I'm paying now.