The Secret Car Dealers Don’t Want You To know

[SharonM]

That happened to my husband and I a few months ago. We offered to pay cash if they took off the dealer fees and they would not sell it. We ended up buying a luxury car from a private seller for $7K less than the dealership.

[ebonyeyes]

I buy all my cars cash used, 40 and never had a car note🙏🏽🙏🏽😇😇

[fambam]

I'm the AVP of Dealer services at a bank. Here's a tip. If you don't have the cash.. go in there with a pre-approval. It's super powerful. DON'T let the dealer add non-sense back end products to your car... i.e rim cleaner, paint protection... etc. If you happen to go in the dealer without financing in hand... tell the dealer you want the "Buy Rate".. the Buy rate is what the bank offers you before the dealer marks up the interest rate. The dealer usually marks up the Buy rate by 2%. So the APR that they slide in your face is usually marked up. Hope that helps anyone!

[myyt]

I just bought a new 2023 Mazda CX-5 cash. This was when the market adjustment price jacking bs was still happening. I told the sales guy I’m happy to do business with you if you will sell me this car for MSRP plus tax Title license. No market adjustment. No mandatory addendum packages, just the car as it rolled off the truck and got detailed. And they sold it to me. I gave them rave reviews. The only other Mazda dealer in my metro area wanted to charge me $5k over MSRP just because they thought they could. I told the sales guy that I’m not a sucker and I refuse to pay a penny more than I need to. Period. He begged for my business for a week until I told him that I gave him the opportunity and he couldn’t deliver. Don’t let these dealers sucker you.

[theairportchauffeur]

Estate Sales & Private Buyers Are The Way To Go!

[reatherhollingsworth]

Facts, looking for a vehicle now. The out the door fee changes when they realize your paying cash. They should be more worried about getting the car off the lot versus how much they lose in commission through finance and packages.

[virginiathomas]

That’s why you finance the car to get it at the better price (assuming one’s credit score is flawless) one would also get a low interest rate; make a couple payments and then payoff the car in the third month (one may pay a couple hundred of dollars in interest but it’s sure a lot cheaper than a thousand) and you’ll be creating a good payment history on your credit report. Lastly, make sure that there’s no pay off early penalty! 😉

[thabodaciousempath]

Wow! Crazy! Thank you for sharing this. And it's right on time since I plan to buy a car in a few months

[Waynetip]

You could have saved $1, 000 if you finance it and paid it off within the first month. Been there done that!👊🏽

[marieabner]

This also works with the mortgage industry. It's very difficult and nearly impossible to get a mortgage under $150K because the banks wants a good enough profit.

[zetarrawashington]

😂😂😂 comedy & knowledge! All praises too TMH❤🌱💫

[cdx]

That's sounds like a you problem!

[Ottolynx]

If you have the cash, get a pre approval make sure there is no pre payment penality. Freeze your credit so they can't run it on the back end to see which incentive is better for them. Force them to used the pre approved loan, negotiate and take off all the bs fluff, get the car and pay off the loan.

[nileprice]

First of all you should always test drive the car before you even discuss money once you test drive the car and you say to the person that you really like this car this is the car that you want then you ask them you know how much is the car you should already know what you are going to spend on your car in terms of cash or financing so if you say you're not spending over $40, 000 in cash if they come to you and say the car is $36, 000 and after taxes is going to be $39, 000 then you know then that's when you say okay I want that in writing and when they say okay this is what it is get it in writing and once you're looking at it on paper and writing then you say okay here's the money and that's it they can't change it I've gone into dealerships plenty of times and pay cash for a car I never say whether I'm financing or paying cash up front never ever ever because I know the games that they play and it's nothing that they can do about it especially when they write it down on paper and give it to you because they don't know that you're paying cash never tell them anything until after you have the numbers

[The_ClayDayz]

Yes. Financing is benefit for them. So finance at great price and rate then pay it off.

[dennesha]

True- there are fees! I worked in a used car dealership before

[djtgrind]

Yea this is FACTS! Dealership here in South Florida wanted $2, 499 on top of dealers fees if I paid cash

[lovelyh]

YES....WITHOUT INTREST GETS PAID BABY....I LEARNED THE AFTER PAYING MY SECOND CAR OFF....TO CASH OUT A NEW ONE....I WAS OVERCHARGED

[AlisonCrockett]

If you have cash for the car, finance it. As long as there’s no pre payment penalty, pay it off in 1, 2 months. No problems.

[tiffanyw]

This must be for the well-off listeners who have bankers and can afford to pay cash for cars.🤔