CAR DEALER BANKS: WHY YOU MUST GET YOUR OWN FINANCING FIRST! 2021 The Homework Guy, Kevin Hunter

CAR LOANS, CAR DEALERS, AND BANKS. CAN THIS PARTNERSHIP WORK AGAINST YOU?
WANT TO LEAVE A TIP FOR THE HOMEWORK GUY TEAM?

JOIN US ON OTHER SOCIAL MEDIA!

GET AWESOME (THG) HOMEWORKGUY MERCHANDISE. SHOW DEALERS YOU ARE IN CONTROL OF YOUR NEXT CAR DEAL!

The Homework Guy Team publishes videos to help Car Buyers. We don’t hate Car Dealerships. Instead, we represent Car Buyers, a goal that’s often in direct conflict with Car Dealer goals.
A CAR DEALER WANTS TO:
1. SELL every car for the Highest Possible Price.
2. CONVINCE Car Buyers to use Dealer affiliated Lenders / Banks.
3. LOAD every Car Deal full of Fees and Finance Products.
4. OFFER Lowball numbers on every Trade Vehicle.

THE HOMEWORK GUY TEAM (THG) HELPS CAR BUYERS TO:
1. BUY a Car from Dealers or Private Party Sellers at the Lowest Price.
2. PAY Cash or Finance with their own Bank or Credit Union.
3. DECLINE Dealer Fees and Finance Products.
4. TRADE / SELL their current vehicle for the Best Value.

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. Car Dealers and their Finance Officers have no problem creating financial devastation for their customers with over bloated car loans, and often do. While the business has had record setting profits, Dealers never stop telling Car Buyers “We’re losing money!” That’s the bed Car Dealers custom built for themselves. We point out the traps and the flaws of the process, and help car buyers get by all the nonsense without being ripped off. We promote fairness, honesty, and transparency, and we’d love to see a few dealers join our mission!

The Homework Guy Team provides car buying consumers with information, automotive news and updates, industry outlook, buying and selling advice, and other help to level the tables. The public face of THG is Kevin Hunter and the master negotiator, Elizabeth. Tons of time and research goes into every show, planning for weeks, several projects always on the table, all with the goal of getting it exactly right. From Automotive News Updates to vehicle shopping advice and assistance, The Homework Guy Team is the best there is.

THG CATEGORIES: cars, truck, van, suv, auto, new cars, used cars, autos, mechanics, automobile, vehicle, dealer, automotive news, auto shop, service plans, extended warranty.
LEADING CAR BRANDS (MANUFACTURERS) WE COVER IN THE US: Ford, Toyota, Chevrolet, Honda, Nissan, Jeep, Ram, Dodge, Hyundai, Subaru, Kia, GMC, Mercedes-Benz, Volkswagen, Tesla, BMW.

How can The Homework Guy Videos help Car Buyers?
1. What you need to know before buying a car.
2. Information you need when buying a car at a dealership.
3. Benefits of Buying a Car from a Dealership or Private Party.
4. How to Buy and Sell Cars
5. Learn the process of buying a car from start to finish
6. Questions to ask at a Dealership
7. Car buying tips and tricks from the experts
8. How to Buy a Car with Cash
9. How to Pay for a Car with Cash.
10. Using Carmax, Edmunds, TrueCar, Autolist, or Kelley Blue Book.
11. Buying a Car out of state.
12. Taking Control of the Car Buying Process.
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!

[clarkX]

Bought a car last weekend and was preapproved through PNC for 3.94%. Dealer tried to jack up the price of the car by $500 because they wouldn't get a credit from financing me through their banks. Refused to pay it and then they switched tactics and assured me they could beat my interest rate by at least .5%. Thanked them for their time and left, manager caught me in the parking lot and agreed on the price I gave when I first got there.

[gajjarnirav]

My cousin wanted to buy a Subaru and was going to the same dealership I bought mine from. We sat all day 2 weeks ago watching a whole bunch of your videos, and a week later you wont believe he turned the game on them. He focused solely on the car he was interested in and then negotiated on the car, and then the highly priced documentation and crap fees. When the salesman locked in the final price for the car itself and asked for his SS number for finance options, he said he's going to pay cash. The finance guy then tried talking him into why financing it would be a better option, but he remained firm on paying cash. Finally after almost 2 additional hours he got the Outback at the price they had originally negotiated for. Great help from your videos, Double thumbs up!

[bobhenn]

I follow your advice and pay cash. Cars depreciate so never finance a depreciable asset. My dad taught me that if I can't pay cash for a car, then I'm buying too much car. Live within your means and you won't suffer financial ruin.

[FONDIEFUL]

I just bought a new Jeep, and went to my own credit union first! It made the whole dealership experience so much better.

[robertgray]

You bring up a good point about doing your own financing that way you keep your dealer honest and if they can honestly beat what your bank or credit union offers fine let them soak up that small profit where a lot of people I think fail is when they go to a car dealer and have no idea what they want to buy and have no idea about financing and that's where your fair game and get fed to the wolves

[itsnotme]

Had this tried on me before. I knew I could get 3.9% on a new car back in 1997....dealer told me I could only qualify for 18%. I laughed, apologized to the sales person, who just lost the sale and walked out. No one has tried this on me since...luckily, but no doubt someone will again and when they do, I'll walk out again, except this time, there is Yelp, Google, Social media...etc. So not just my friends/co-workers will find out. Payback...sometimes it's fun!

[elainepatterson]

Former F & I manager here, Kevin. We all need to make a living. You make me wish I had never spent 13 years in this business. The dealer I worked for even said we were all prostitutes! 😲 I finally escaped! 🏎️💨

[cruiser]

Thanks Kevin. Still shopping for a newer vehicle but want to be as informed as possible as our last purchase was an uninformed nightmare filled with lies and regrets and I keep saying that it will never happen like that again. Stay healthy!

[vickiboyd]

Thanks for your Due Diligence! God Bless You!

[williamhaynes]

I have had some good financing rates thru a dealer, even turning down all the extra stuff they sell.. But its nice to have options to compare them to.

[JoyPeace]

Cash only buyer, learned too much working for a trust company that had the local auto mall as a client. Unbelieveable the cost for dealerships to buy from automakers versus the sticker & invoice price meant for consumers. A vehicle being a depreciationg asset took on a shockingly realistic understanding quickly. 😳

[josephleonelli]

Yes you were I always get financing first thank you for your time

[darrellamy]

Looking to buy a new car. Going to the back before we go to the dealer. Thanks so much

[therobbyfitz]

I’ll never forget that I leased 3 times in a row. The second time I went, they said they don’t use my first bank anymore and I fell for it.

There was a fee for switching banks to the second one. THE KICKER: when I went back for the third time, they tried to switch me back to the first bank again and charge me again for the switch.

I wish I found your channel sooner. I lost so much money over the years.

[roberthallett]

Best info for a consumer. Ur going in well prepared.

[michaelmonger]

Thank you....you just saved me thousands of dollars

[gwillis]

Ahh yes flexibility to tinker with the interest rate is what the car dealer wants. It is totally logical to me that the dealer would say to himself : "The bank approves auto loans at X percent as a business decision. And they thankfully allow us, the dealer, to add two extra percentage points as a dealer profit center. That means we get to tell the customer that the lowest interest rate available on a car loan in this town is X + 2 % when they could have gotten a lower rate by visiting the bank first of all."

[paldenoffice]

Off to my Bank Today! Thanks for saving us $, !

[derspeed]

Definitely contact your credit union first. Last week, my credit union offered me 2.99% for up to 72 months (I know) for a 2019 or newer model. The loan officer told me they could not finance an out of state purchase though. She said use the dealership bank and then refinance that loan through them at the 2.99% rate.

[jamesclapp]

in 2017 it was necessary to buy a new chevy for the wife. called ahead/looked at the NFCU FOR THE RATE. WAS quoted by NFCU a 2.69% for the loan. went to dealer agreed to deal price. when i told them we already had a quote of 2.69% they (chevy dealer) indicated that the NFCU would cause a delay in the release of the vehicle even though they had a fax machine and the ability to use it. the counter offered a 2.79% from Chase bank for the same term/length of loan. We accepted the deal and were gone in 30 minutes, We paid of the vehicle in 28 months but were dissatisfied with Chase because the tried to charge us a late fee on the next to last payment. Chases actions lead to an Early termination/payoff of the car loan they lost 24 months of interest We will never deal with Chase ever again. Thanks for the Videos.