DON'T SAY 'I'M PAYING CASH!' 2024 (at CAR DEALERSHIPS) The Homework Guy Kevin Hunter

CAR BUYER WITH CASH? CAR DEALERS DO NOT LIKE CASH BUYERS! THEY LIKE CAR OR AUTO LOANS!

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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.

For more than 40 years, dealerships have EARNED their lowly reputation by being the masters of predatory selling. Dealers 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 quite often do. 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, Amazing Elizabeth. Tons of time and research goes into every show, with 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.
Paying with cash for your next vehicle? Before you start thinking you should waltz into a dealership and flash that cash, No NO NO and NO! Hold that thought! It’s a good thing you saved up your cash for a car purchase…
But, you gotta know this! DON’T SAY, I’M PAYING CASH the moment you talk to a Car Dealer!
Coming up in this show is WHY you shouldn't reveal you're paying with cash… too early in negotiations… at a car dealership, and before this is over, I’m going to help you cash buyers understand how to defeat a car dealer using their own business model against them! It’s a patented THG Secret! There’s also a giveaway at the end! Let’s roll!
Cash transactions are a dealerships Achilles' heel. Not to mention, it’s always better for our economy when there’s less borrowing and more saving, and fewer people going into significant debt on a rapidly depreciating tangible asset! Yes, you heard me right. A vehicle is NOT an investment. No matter what any finance officer tells you..
Let's quickly revisit the basics before diving in. You should always avoid announcing your intention to pay with cash upon entering a dealership, or when initiating contact with them via email. You might wonder, "But isn't cash supposed to be king?" While that was true years ago, sadly enough that era has passed us by. In today's automotive market, hefty profits are crowned the King, and these royale profits aren't easily garnered from cash transactions, nor from you smart Homework Guy viewers out there! And especially not from anyone who hires us to negotiate their car deal directly!

[KevinHunter]

JOIN US at TheHomeworkGuy.com to find our e-book for car shoppers, join as a member to get DIRECT HELP buying a car, and even talk to Kevin about our new CAR HAGGLER service where we do all the negotiations FOR YOU! We just can't wait to help our Homework Guy Viewers on YouTube :)

[christophersoutherlin]

Anytime I walk into a dealership, and the salesman asks how I intend to pay, I always state, "Are you the finance officer?" "No?" "Then that's not your problem, salesman. "

[StevenKatz-xnnf]

I allowed the dealer to finance my purchase. I was given a $500 credit for going through their finance company. I took the $500. The day the "welcome letter" came I paid the loan off. $500 to me for 7 days interest? I'll take that trade off every day of the week.

[CallieCEntertainment]

My one reservation with agreeing to a car loan then paying it off quickly is that first your report gets dinged for running the credit, and then it gets dinged HARDER when you pay off the loan. That's something that really surprised me, I thought my credit score wouldn't be bothered or even go up for paying off a loan, but NO! It went DOWN and took months to recover.

So, I would say let them fart around with their deals and once you have a good number, just pay it right there with a check or card at the dealership and walk away, no damaged credit report.

[bryansipes]

I remember a time when salesmen liked us cash buyers.

[Timberon]

This happened to us recently. When we got "the deal" we wanted, then we said we'd be paying in cash, it all went downhill from there. We left. They didn't want our sale.

[bp]

Didn't work for me. Made great deal and then demanded I finance at the very end. I walked away. Chrysler dealerships are not hurting at all.

[markwilson]

Sick how they have a Monoply on industry !

[MRDDev]

The last 2 cars I bought I never had to go through these lenght. I always ask for OTD price no add ons, if they insist I walk away, is that easy, no need for pressure or sound mean. I always get the loan like Keving said and pay it off on the first payment. Whether they get their money or not its really not my issue. The most important thing is always to know your OTD price no matter how you pay.

[chrisg.b.]

Bought a Lexus in January, They screwed me with an 8.3% rate. 20 days later it was refinanced at 4.99% with credit union.

[patrickboyd]

I live in Pennsylvania but I always purchased vehicles in Ohio so first thing I tell them that I'm from Pennsylvania, and the OTD price and taxes.

[staciesokoloski]

Bought a vehicle today. This just happened to me! Negotiated the OTD price, first talked finance, and then bought without finance. The dealership tried to tack on $500 because I didn't finance. I picked up my keys. They changed their mind right quick. I did enjoy them squirming. I don't fear negotiating for buying cars like I used to, thanks to watching all these YT videos, including your channel! I love Liz too!

[ryoung]

Yeah Kevin, great points to be made. I like the one about showing them how much profit they'll make off the loan to get rid of those stupid add on fees. Will try to remember to say it just the way you did. Thanks again.

[antoniog]

Kevin, I've been saying this for far too long, You da man! I love that line about the charge back, lol 11:05.

[egrnhl]

90% of dealers stop communicating with me if I request an OTD price or provide a price I am interested in paying for the car. The no haggle price dealers always communicate with me since prices are firm.

[electron]

LOL 😂
At exactly @11:29, it appeared as though the lady was giving him a pat on his back for doing a very well job in presenting the information.

[RedEyeC]

One plus for the dealerships receiving cash for car contracts is that they themselves can invest it instantly in whatever area of the dealership they want.

[angeladelancey]

I don't see the link for the cash car buyers outsmart car dealers link in the description. I'm going to go listen to that one now! Thank you!

[bruceclairelopschutz]

As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns

[georgedoolittle]

Prices for battery electrics continue to go off a cliff. Not sure what to make of that.