DON'T PAY CASH AT CAR DEALERSHIPS! (Here's Why) - Car Dealer Reacts - Marko - WhiteBoard Finance

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[nancymoore]

I'm 68, female, short, and my late father taught me these tricks when I was very young. He'd let me go with him, sit, watch and listen. I've bought no less than 15 vehicles, motorcycles and company trucks over years. I walk in alone, and the salesmen think they've got a sucker. Thanks Dad! You taught me well👍🏼💪.

[tj]

I used physical cash to buy my first first car, it had less than 30 miles.
They wanted $27, 000, back in 2005 had saved up for several years to get a brand new vehicle.
I said I want that vehicle there, but I won't pay more than $22, 000.
Out the door with everything. They laughed until I pulled out an envelope with $100 bills and stacked it up on the desk.
He said $25, 000 is the lowest he could go. I started to put the money away. The look on his face was hysterical. I told him if it's still here in 3 days, my offer remains.
The 3rd day he folded for$22K

[Chance-ryhq]

I always pay cash. It is simple, negotiate the deal, if they don’t like your price leave. Once you get your price they will send you to the finance department, that is where and when you tell them you are paying cash. The Last Tahoe I bought took me 3 months to find, but it saved me $10k. The last Tundra I bought took me 2 weeks to find. It saved me $15k. Plus all the financing cost I didn’t have to pay. I also always sell my old vehicle myself. Never trade in your old vehicle.

[OliverTilney]

“You do not need to buy a house just rent ” is popular bad advice. But I’m wondering about the “cost” of no longer having a reliable income and loans to pay then you will be come homeless for sometime till you can bounce back on your feet . I’m still driving a 2008 Honda CRV with over 210k miles on it that was paid off over 10 years ago but I have gotten two houses .This is why we all need a good IRA . Choosing a Roth IRA is advantageous as it uses after-tax funds and allows tax-free growth. When I retired, I had $3M million saved, and I won't be taxed on my withdrawals.

[perdidoatlantic]

I’ve done this. It works better if you visit the dealership several times and waste days of their time. Also get your own bank in competition with the dealership. Say “my bank will only lend for this vehicle. My back says it’s not with more than Also start calling other like dealerships and ask those salespeople questions right in front of the ones your sitting in front of. I left a Chevy dealership one time with an asst manager physically angry in my face spitting because I said my credit Union was $500 under our already agreed to price and went over his head to the general manager to get the final $500 off AND then got the asst manager to give me free bed liner, sliding back window and trailer hitch. He walked up to me and said very angry “what kind of hitch do you want? Are you towing a boat, RV, jet skis or what”? I said “oh I don’t have anything to tow I just want a free hitch”. He went back in his glass booth screaming and throwing things. I hate car salesmen.

[quang]

Man you're lucky to get to hangout and do videos with your dad. I use to do projects with my pops and sometimes I felt like it was a burden lol. But when their gone, all you can do is remember all of those times u spent together. Take care of yourself and your pops. Always cherish your time together because the memories will always keep him alive within u.

[PamenterDoug]

I just bought a car with cash, but I used all of your advice getting the “out the door price”, then began negotiating away all the fees, getting extras thrown in, then finally telling them I do not want to trade in my nice truck or finance. Feels good to get the last laugh.

[marc]

My last car I bought from a dealer was a low mileage
used car. It was loaded with every option which was rare for a Mazda 3s hatchback. The price was unbeatable and I wanted the car. But I didn’t let it show and didn’t tell them how I was paying. We negotiated and got a good deal. Then told them I was paying in full, so there wasn’t any financial Mumbo Jumbo. They seemed set on price and weren’t trying to throw in anything. 11 years later, still driving the car and still love it.

[brucevrooman]

I'm 57, and have never had a car payment. Only bought one new one, and the novelty wore off in hours. Hate dealing with dealerships because of all the games to take advantage of you. Just buy what you CAN afford, and skip all the stress debt can cause. Then save some money over time, and upgrade when you have the money.

[caroleaton]

I wish I could take these guys with me when I buy a car. I'm 68 year old female and the car salesman sees me coming with the word sucker written on my forehead. I've been ripped off with every car I've purchased. The dealership's know how to get every penny from me and I've been so naïve. Hopefully these videos will help me in the future when I'm ready for another car. Thanks for the great advice.

[amosjsoma]

You make this much more complicated than it is. I'm old and have purchased dozens of new cars in my lifetime and have always paid cash. Inasmuch as dealers are the scum of the earth, I have no problem treating them as the adversary and lying to them. First of all, when I walk into the dealership I know exactly which car in their inventory I want and have a pretty good idea what I will pay them for it and am fully prepared to walk if I can't get it. I avoid talking about financing as long as I can but if pushed, I tell them I'll probably go to my credit union for a loan. That throws them off but satisfies the financing question temporarily. Once we arrive at an out the door price I pull out my check book and if they try to back out of the deal, I walk. They have never backed out of the deal although they have threatened to many times.

[jamesodenbach]

I'm curious if there's any differences in Canada. I've noticed that the dealership sites in Canada list all the fees and their maximums when you build and price online (Dealer Fee maximum, Freight and Delivery maximum, Air Conditioning charge, AMVIC, Tire Levy etc.) plus the tax for your area, then the available interest rates for lease or finance and also the total pricing for cash (which is the same total price). But I've noticed the US versions of the sites don't say anything about fees or interest or total pricing. I wonder if there's a Canadian law around this.

[alanj]

Times have changed. Dealers used to drool when you paid cash. Now they resent you for it. My parents actually said they were going to finance the car, negotiate the price for that, then pull out the checkbook and pay for it. They upset a lot of dealers by doing that. It also saved them a lot of money.

[garyreighard]

I was in the process of buying a Toyota King Cab years ago and I had made a deal of $17, 000 or so out the door with my salesman.When I was in the finance dept. and ready to sign the contract the price was $268 more than I was told.When I told her that I already had a out the door deal she said"we can't sell you that for that amount"I asked for my keys back and left.They were trying like hell to get me back but I refused and never bought the truck.

[rickdunn]

@CarEdge you guys are great. Ive learned most of these techniques over the years. I also have an MBA and understand financing issues (to some extent). A few years ago, I was in the back room finalizing a Ford F150 (painful long process). Finance Mgr. was pleading with me to get a loan through Ford Credit. I said, no, Im paying with cash...he said "Well I can get you another $500 off if you take a loan with Ford Credit, but dont pay it off for 30 days..because I will get penalized". I got the loan, an additional $500 off the truck and then paid the loan off (no prepayment penalty) in a week. I didn't want to pay any interest. Regards,

[wdtony]

Years ago I paid $900 for a 3 year complete drivetrain warranty. When my universal joint broke, I found out that many parts of the drivetrain weren’t covered under the policy. U-joints were not covered. I’ll never buy extra insurance again.

[mcUSA]

My last used car was selling for $10k plus taxes and dmv registration. I got the dealer to agree 10k out the door with financing. The finance guy kept trying to sell gap for almost $1k. He tried everything, he then said he would add it for no cost but he actually reduced the price of the car by $900. So next month I called bank and canceled gap and they refunded $900 😂

[Idaho-Idaho]

Should always listen to advice and I like these guys. But every situation is different. We just bought a new car first of Jan 2021. The dealership really tried to force financing on us. They said we HAD to finance 80% of the total cost and HAD to pay on the loan for a minimum of 6 months or they would stick us with a $1, 600 penalty fee. We expected this and took on the challenge. I walked into the dealership already knowing that the car we were looking at had been on their lot for over 6 months. They wanted to sell this car. We offered $2, 000 below their price and called it the out-the-door total. Take it or we walk. Just as we were walking out the door, they accepted the offer. The finance guy started his "speal" about the multi-teered extended coverage, but I stopped him and said "we have an out-the-door price". We were done in 5 minutes. Wrote out a check and drove home.

[LeihuaBarry-jjmg]

I bought My Hubby’s Truck with cash. I simply put the amount on the check & told them to fit everything into the number or No deal. I also let them know I was willing to travel 6 to 8 hrs away to get the same truck with the price on the check. It was 5pm on a Wednesday night & they needed to make a sale. It worked 👈🏼 & My Hubby was happy.

[DrElectron]

Good video and good job. Over the years, our 2012 Prius V has been vandalized by rodents. I wanted to provide a couple of tips. I had to use metal screening to keep them from going into the snorkel which leads to the engine air filter, as well as the passage from the windshield cowl to the cabin air filter. Also, peppermint oil seems to keep them away but you have to apply it often. Finally, our most recent rodent damaged a fuel line near the gas tank. It was repaired by a dealer who told me that my car insurance might cover it. I filed an Insurance claim and they paid it.