7 NEGOTIATING STEPS with DEALERSHIPS - Beat the Car Dealer Finance Manager: AUTO EXPERT 2023

HOW TO BUY A CAR. HOW TO NEGOTIATE. TIPS ON CAR BUYING. It's all in this video!
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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!

[adrian-xyzt]

I followed up your advice and yesterday I did buy a used car and guess what I was able to save $ 1822.00. in a bunch of extra fees the guy tried to sell me. Thank you for the work you do and I will recommend your videos to all my friends.

[juanochoa]

Just saved money on a 2020 Honda Civic sport. Thanks to Kevin I negotiated a great price below msrp even with accessories installed I payed well below msrp and made the finance guy furious when I didn’t sign for garbage I didn’t need, and dropped the cash bomb at the end. Thanks again Kevin Hunter

[imonlawnduty]

I got hit a bit with my first car deal. At 19, I didn’t know much at all. Paid for gap insurance, and extended warranty, and “tire insurance” that basically covers nothing. I didn’t negotiate the price at all because it was already at the price point I was looking at. I feel like I could’ve saved a lot of money just by simply being informed.

[siamimam]

Also Dealership installed some tire mud flaps, hood paint chip film, and lug nut locks and tried to charge me $600! I was like hell nah! They didnt take those off and gave it to me for free :P

[_DMAC]

Been binge watching your channel and I'm not even planning to buy a new truck for another 3 or 4 years!

[daniellecurtis]

Wow thank you so much. In the past I went in to the dealership completely ignorant to car buying and vulnerable feeling a need a car lol...THEY SAW ME COMING. but thanks to you I feel well informed and can make better decisions as I enter the dealership feeling more confident. This information is God Sent and I thank u will pass on the info to all my friends God bless you

[NelsonConroyRealtor]

Kevin, thank you for all your assistance. We followed all the steps you recommend in all your videos. We did all the research on used Kia Sportages & made an appointment with the used car manager at a Toronto Kia dealership. We were greeted by a salesman & told him exactly the dialogue you convey in all your videos. We tested 2 vehicles & decided upon one . We were given a price & we left for lunch. Before we left we did precisely what you always point out. We refused to meet with the Finance manager however we allowed the salesman to do the add on presentation.We returned with our number & arrived at an agreed price. Our salesman offered the rust proofing, extended warranty & the exterior paint protection. We politely declined & never once did we discuss how we were paying. Thanks to you it was a 2 1/2 hr process of which included our lunch. Appreciate your valuable time. Thank you Kevin.

[googleuser]

Just in time, I'm in the process of buying a car I'm so glad found this

[ceazy]

I wanted to ask the question, "What would be considered a fair deal with respect to dealership profit?" What would be a good rule for a percent of mark up for a dealership profit?

[lttruck]

Thumbs up like an eye opening education. Subaru dealership tried to pull the wool over my eye's last night. Hit him with the facts. Told him I wasn't impressed and left.

[thomasward]

Always negotiate an Out The Door Period

[garzadelagarza]

Excelent YouTube channel!!! I’m surprised this channel hasn’t been closed because dealerships Won’t be making as much as money with all this information

[Mini-Hakkero]

I feel like I didn't do too bad for my first time buying. They pulled a fast one on the document fee, but it was small. I focused on the total price and interest rates. Shut down all the stupid crap from the finance office, because I already knew better and I work on my own vehicles anyways. The tactics the finance manager used were hilarious and I could not hold back the grin on my face.

[jacnel]

Thank god we have good regulations around fees here in Ontario. OMVIC won’t allow any of the fees you point out to be charged and any standard fees (like the regulatory fee) are limited and required to be included in the sale price. Plus dealerships here aren’t allowed to charge extra fees for licence (and you can choose to do that yourself if you want).

[JustcallmeGnarly]

I got burned with a high interest rate while financing through the dealership. I remedied the situation by refinancing a year later and lower my payment while also paying more on the principle of the loan. I owe less than $2000 and will have my car paid off this Sept.

[machintelligence]

1. No trade in. (sell it yourself)
2. Arrange your own financing. (credit unions are good places to start)
3. Get an "out the door price" from the salesman. (in writing and it is a dollar amount, not a monthly payment)
Now you can shop around.
4. Be prepared to fight with the finance manager to enforce the above.


I haven't always done all of the above.
Once we used the promotional financing and I had to send the contract back to the finance office to have "extras" removed -- three times. They still got me for a document fee, but it was only $ 25 at the time (1987). It helps to be handy with a financial calculator to check their figures.
Another time I traded in a vehicle, but it was during the "cash for clunkers" program and the government set the value ($ 4500). I also got a few hundred additional back when the trade was sold for scrap, since that was part of the value of the trade in.
Overall, I think I didn't get taken too badly on any of the deals.

[matismf]

On the other hand, if the car you are buying has a history of costly repairs, extended warranties can be worthwhile. The best option I got on my 1986 Corvette was the extended warranty. I was going through a transmission every year. Same for alternators. And the Bose stereo died three times. The extended warranty cost $500. In the end, it saved me over $10, 000.

[donmiller]

Kevin thank you for taking the time to post these videos. On my last car deal I got a 37, 050 sticker price down to 27, 500 out the door and thought I did great until I checked my paperwork after watching a few of your vids.. I could have saved another 1, 800. I will next time !

[dabradguy]

Sometimes I go look at cars just because I like them. If they offer a test drive, I take it. They usually ask if I will do business today for x amount of dollars, I say no, they thank me, and hand me their card. The saiesman knows pretty early on if you are a buyer or not.

[tmorty]

I learned how to say “NO” to everything the dealer and Finance office throws at me.