5 Things Car Dealers DON'T WANT YOU TO KNOW

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Ray and Zach outline the 5 things that car dealers don't want you to know going into a car deal, because it means less profit for them and less of a chance to take advantage of you. You absolutely SHOULD know these things, however, and that's where we come in!

[steventogami]

#1 advice for buyers is Always be prepared to walk away.

[mikemcdaniel]

I followed Ray’s advice and requested OTD price from 5 different dealers starting Monday morning. Each dealer tried several times to get me to come in to their lot but I held firm on working via text. 4 of the 5 dealers ended up sending OTD pricing by end of the day. I went in to 1 of the dealers on Tuesday morning and made an offer a bit less than the OTD price and it was accepted. I obtained pre-approval from a credit union already and told dealer I would listen if they wanted to make an offer for financing. Best buying experience ever! BTW, 1 dealer refused to submit an OTD price, none of the dealers were happy with this approach. lol

[liftacar]

Just came across this channel a week ago and I'm glad I did. Went to buy a car a year ago and had a terrible experience. It was at a Lexus dealership and I kept asking for an out the door price and the salesman would not give it to me. He kept saying "you haven't even told me if you're going to be paying cash or financing." I told him it didn't matter and neither would have any influence on the out the door price. We went back and forth for about 10 minutes. His finance manager then came out and was repeating the same stupid mesage to me. I stood up and thanked them both for wasting my time after about 20 more minutes then walked right out.

[tiffanym]

So the salesman brings me back to his desk while the finance guy is doing his thing and hands me a piece of paper that I was to sign stating I'd be willing to accept a 9.9% interest rate. "Oh He!! no", I said. This was in 2021 when rates were super low and my credit score was in the 800s. I told him my local credit union was financing @ 3.9%. I ended up with 3.25%. This has me wondering if the dealership was going to tack on more than a little bit extra.

[dalenihiser]

Here's a small tip for determining how long a used car has been on a dealer's lot. If the used car is pictured on the dealer website. Look closely at the surroundings. If snow is pictured but it's summertime or there's leaves on the trees but it's the middle of winter then you know the car has been hanging around for awhile. As a former loan officer, I used that strategy to great effect for our members to negotiate for a little better deal.

[rick]

I sold cars part time for 5 years at Carmax. It really was a stress free environment because Carmax really meant "No Haggle" pricing. The only dealer fee was a $99 processing fee. I only had one person say they weren't going to pay that and my manager actually waived it. I don't know how car salesmen at "traditional" car places sleep at night, knowing all the slimey, underhanded, shady things they do to customers in the name of profit.

[Safferz]

I’m looking into getting a new car here soon as my 17 year old PT Cruiser is on her last limbs (I’ve had her since high school) 😂 It’ll be my first time purchasing a car and all of these videos have been immensely helpful, especially as a young woman who doesn’t know jack about not only cars but purchasing a new car as well. You guys are so wonderful to help us out with these tips and an understanding of all the steps, do’s and do not’s, how to prepare going into a dealership, etc. Thank you!

[eskiluv]

I love you guys! Really appreciate all your knowledge! In the last 3 months I have purchased 2 different cars and have blown away the sales and finance teams with my knowledge 🤣

[agnideva]

CarEdge is a breath of fresh air with all the dealer shenanigans I've encountered over the years. Knowledge is leverage and having insider information to push back with is invaluable. Keep up the great work!

[oeefdff]

whenever I am thinking of buying a car either new or used I do research using all search engines then when I get a reasonable price, I negotiate online if they refuse, go to the next one, then when deal is finalized make sure its documented by having them email you the agreed OTD, that's when you actually go to the dealership and pick up the vehicle

[EluviumMC]

Loving this channel and the nice succinct points you cover. I've been thinking about getting a new car, but my first dealership experience was when i was young and stupid and ended up in a car that was too expensive for me at the time. I'm also kind of a people pleaser, so having this information in hoping will help me have more leverage not to just go along with everything the dealer wants.

[ashtex]

The Caredge trade in tool was over 10K lower then the offers most dealerships had already been calling and offering me. As well has way below the KBB trade in value and cash.

[AM-jboz]

Very helpful, thank you for sharing your knowledge.

[laceyn]

I think I’m ready to trade in and buy in the next week and I’m so anxious about going to dealerships, I wish it wasn’t such an unpleasant experience :/

[ericrog]

I went to a Philly area Genesis dealer last year who was still using a 4 square and was hell bent on monthly payments. I asked multiple times for an out the door price. It took a couple hours and a walk out to get an itemized out the door price. Normally, I wouldn't have wasted that much time, but there was an inventory shortage and it was the exact vehicle my niece wanted. Genesis GV70 is a beautiful vehicle, I may get 1 for myself!

[yeltsinhernandez]

Ive been asking recently for an OTD price snd many dealers just say: oh we don't discuss prices or fees over the phone you have to come to the dealer to discuss any price I'm tired of their bs!

[Mr]

So much great advice here!
I’ll add one more; the more flexible you are the harder it is to not give you a great deal.
I started buying cars from a GM dealer back in 2000. I walked up to the first salesman and said “what I’m looking for is the most vehicle for the least price! You know, those that are coming 90 day ripe. Boy that sales manager hated me!
Now you have to then be smart enough to say to yourself I need an Expedition and he’s showing me a Prism, well then you need to move on!

[somehandle]

I wish you guys were around when I bought my last car in 2010. Thanks for all the useful info!

[SkinnyCow.]

Cash is king. You have the money and many options of what to buy and from whom. They have a vehicle they don't want and obviously no buyer or it would have sold already. Be prepared to walk, usually by saying "I'll think about it" or "i'll check out some other prices first" is always a good non confrontational way to leave and keep them on the hook.

[thehyperboliccookout]

You can take odd dealership add-ons like Gap Insurance and Extended Warranty. After buying the car, look at your contracts to see how many days you have to do so.