I went to the bank to pre-pay a loan, and they ended up adding a few hundred dollars in fees. Since it was a simple interest loan I told them that I would pay the loan off except one dollar. I told them they could then spend the next six months sending me a statement until the end of the loan term. Immediately the manager at the bank decided to waive the pre-payment penalty. Keep that in mind if you ever go to Pay off a loan early.

@hunter371

Ай бұрын

Love this

@me109cito5

8 сағат бұрын

Slick Rick. 🤣

A buddy of mine who is a car salesman told me the best days are towards the end of the month when they need to make their quotas, even better on a rainy day when there's less traffic in the showroom.

@stefonthemove

2 ай бұрын

I went to a dealer over the weekend and OMG they must of been starving because they were sooooo pushy. I won't go back there.

I sold cars for almost 30 years. During that time I also did manage the F& I office. This gentleman in this video is pretty much shooting it straight. When getting a price, work the deal with and without your trade. The price will be much more accurate. Shop at least 3 dealers for the best prices. Never commit to your salesperson whether or not you will finance the car. Do Not, Never buy a car on line.

They really do hate it. Drives them up the wall. I bought a car a couple months ago and did everything I learned from these videos and they were very frustrated

@santiagogold446

7 ай бұрын

I can’t wait to do this myself. The idea tickles me

@TraderDan58

7 ай бұрын

Did it help you get a better deal? Or was the salesman just frustrated.

@XX-166

7 ай бұрын

@@TraderDan58if they were frustrated then it worked.

@thembp4sho

7 ай бұрын

😂 I'm glad you frustrated them. I will do the same soon 😁

@heatherowens8555

7 ай бұрын

Did the same thing beginning of October! My salesman was sweating! He asked me why I cared about the OTD price 🫣

I got completely fleeced the first time I bought a car. But bought one recently and as a knowledgeable buyer I could sense many dealers getting upset with certain questions I asked or wanting to pay cash instead of financing. Buyers have to be willing to walk away and take business elsewhere. There are some solid dealerships out there.

Trying to buy a car is giving me so much anxiety. It makes me feel noxious that dealers want to rip me off. Thanks so much for all the information.

@stevegonzales527

4 ай бұрын

And that’s how they get you. Research take a check with your set price and bring it to the table and have them talk to or bring the sales manager to the table. Worst case scenario they tell you no and best case scenario you get your deal at the price you set. I’ve done this a couple times, you’ll get denied but it saves you your valuable time from going back and forth at the dealer for hours and hours

@GoodnessandTruth

3 ай бұрын

The best advice I seem to be getting is, know what the car you want is really worth, know how much you can spend, demand the out the door price, and be willing to walk away if the out the door isn't in line with the first two items. Then you can go in confident and know what to expect. If the car is a fair price and in my budget I'll buy it. If it isn't then I'll take my business elsewhere. And it's perfectly fine to shake the salesman's hand, thank him for his time, and walk away without a car.

@skbrickmeister

Ай бұрын

I'm sure you've bought by now, but remember for the future this is a business. They need to make money too, and they will, you just want to try to keep as much of yours as you can.

Over the course of my life I’ve used that knowledge to my advantage when I’ve bought my cars. The satisfaction you get when the sales manager gives you a dirty look as the salesman explains that the tricks aren’t working is priceless…. One of your most powerful tools is simply getting up and leaving the dealership when they are playing price tricks. One of my best transactions took over a month to complete due to me knowing the numbers, their situation in the economy at that time, and how hardheaded I can be…. Walked out of the dealership with a 0 APR at the exact price I wanted… (Oct 2001). Have patience and do your due diligence

@yankeesrule587

7 ай бұрын

LOL, YEA OK.

@mikeydude750

6 ай бұрын

are you seriously saying that advice from 22 years ago is still applicable now? lmao

@watersnortmoment3734

4 ай бұрын

@mikeydude750 Read it carefully, everything he said applies more now if anything, other than the interest rate. The economy is in the shitter, cars aren’t selling, people are defaulting on their loans and handing keys back, it’s a buyer’s market now. Dealers have too many cars in their inventories because nobody is buying. The most important negotiation tool is the ability to walk away, if you make it clear that there are other dealers that have the same car and you don’t need THAT specific car, they’ll be far more likely to negotiate. All of his tips still apply, don’t discount advice just because it’s old, sales tactics don’t really change much.

@user-en8wd7bw4l

4 ай бұрын

All that you said is true. I sold cars for years and sales tactics STILL haven't changed. Only the prices have changed....cars are much more expensive! Do your homework.

Thank you for coming back to making informational videos like this. I'll be really honest - I've been getting exhausted with the sensationalized video titles and clickbait thumbnails over the past year or so. When y'all started out, the info was content focused and actionable. More recently, everything's a -pocalypse. This is the kind of content that built my trust in you, and I'd love for there to be more of it.

@konstantinkennedy2244

7 ай бұрын

Plus one. Dealer hating clickbaits with no new info

@johnmoore3015

7 ай бұрын

I don’t disagree but I sympathize with these guys- I’m not sure they have a choice if they want to grab a click from a new viewer. Don’t hate the players, hate the game.

@lorieandpatrickdavies7483

7 ай бұрын

I've gotten a little fed up with the clickbait thumbnails too. "Its Over!" etc. Stick to the good information, and coaching, and helpful tips, and leave the silly clickbait stuff for others.

@swagzy6278

7 ай бұрын

I feel like the other people specific videos, like viewing actual deals and breaking it all down, is a lot more effective and enjoyable

@bat2ball12

5 ай бұрын

Could not have said it better. Seems like that’s all I see on this app these days is click bait titles and non tangible advice.

My mom told me when I was a youngster that integrity is the only thing someone can't take from you. Ray thank you for your full disclosure and utmost integrity sir.

@454ffv

Ай бұрын

Don’t thank him too much, he did this that shady shit for 43 years

@jp3047

Ай бұрын

You are correct it is pretty shady shit and I commend him for disclosing all of the foolish dealership games

Love you guys. Used many of your strategies at a dealer and the manager came out and basically asked me to leave. 🤣 Went to another dealer and they were 100% transparent and earned my business.

@meninodonordeste

2 ай бұрын

Did you go to Gotcha Motors? 😂

As a first time car buyer these videos are my go to!! Thank you for the work you are doing here!!! This has been so helpful! I feel like I have more control when it comes to car shopping!

You two are always so informative. Thank you so much for all you do. I will feel much better going into a dealership in the next few months. I hate buying a vehicle. Thanks again and keep it up.

Thanks Ray. Having a pre-approved loan and rate in your back pocket is a pretty liberating experience. I sit down in the F&I office knowing I "don't need their money" (no rush to buy) and put the dealer/F&I in the position of beating the rate I already have in pocket. That's a big help and a great idea.

@moondog3056

4 ай бұрын

Best thing I ever did. The dealer told me I couldn't get a better rate anywhere. I pulled out the check from my bank and he was so shocked he couldn't say anything.

@someguy7805

4 ай бұрын

I have paid cash for my last 3 cars, so I don't need financing, fortunately.

@azizhachimi8744

4 ай бұрын

@@someguy7805 same here!

@stefonthemove

2 ай бұрын

@@moondog3056 that is awesome!

Another good bit of advice I got years ago from a former car salesman, is never negotiate face to face w/ a salesman. You're at a disadvantage by playing on their home court. Find the vehicle you want, go home, call the lot and ask for the used or new car manager depending on intent of purchase. Offer them an 'out the door' price. They'll take it or counter. If they won't play ball.....walk away. Don't get married to a vehicle. This works especially well if you can find sites that list how long car has been on lot and you can point that out. Obviously the longer they've had, the more incentive they have to move it 'over the curb'. I got a smoking deal on a mint VW Sportwagon this way. (it helped that wagons are not popular in the US)

@brianne571

5 ай бұрын

Get it in writing in fax or maybe email after the verbal. I learned that the hard way. Needs to be in writing

@curlygurlxo

Ай бұрын

Yeah they often BS people to get them in the door. Sometimes they don't even have the car anymore and tell you they do

@jimh.412

25 күн бұрын

You haven't even driven it then over the phone.

Love this! I did this exactly how you said and got a fantastic price with only 1 BS markup that I negotiated down. Got a great rate and terms for the loan. Even traded in my failing Kia Sportage for more than anticipated. All thanks to your info.

Lots of great information there I’m going through the vehicle buying process right now I’ve already had to walk out of two dealerships because they wouldn’t disclose all their hidden charges They were very aggressive Thanks

Thank you for sharing your knowledge with us. We are not buying a new car till we get with you all. We've done everything wrong in the past. Not ever again. Thank you both!

Remember: We are fifth graders who never graduated, so we need to see these contents over and over, and over!!!😂😂 Thank you!! Very helpful!!

This is a perfect step by step on how to do this . I learned these methods by having a friend who sells cars show me. This is a better breakdown on how to do . Great job Ray ! Great stuff !

I appreciate this channel SO much. I started a career in auto financing and the training was scattered so listening to your videos is helping fill in the gaps and better teach me. Thank you!!!

I've been at Car Dealerships who flatly will NOT tell you the cost of the Car. They will just ask - _What can you pay?_ or - _can you afford $300/month._ But the cost and the details were always missing.

@stefonthemove

2 ай бұрын

Run for the door!

Thanks Ray, I watched a lot of your videos before buying my 2022. Boosted my confidence 100% in getting the best deal in a bad car buying climate. As a woman I feel we get taken advantage of at dealerships.

I love your channel! My son had to buy a car recently, so I shared this video (and others) with him. Sadly, he was in Chicago and I coudln't be there with him. The car was a 2017 Kia Forte, listed for $10,897, which was comparatively low for the market. The dealership told him the price was actually $14k for the car, because they had "service fees" that they had to recoup. the salesperson then held up the car fax to show him what had been reconditioned/repaird. WTH? I've never seen a dealer add those fees ONTO the price of the car? I'm sure they saw a young man walk in, and did their worst. He bought the car for $11,500--much to my chagrin. The dealer still insisted that they HAD to add those fees. SMH....slimiest deal I've ever heard of. Sadly, my son wouldn't get up and leave.

@nancythane4104

3 ай бұрын

He can report that dealer to the Illinois Department of Financial and Professional Regulation (IDFPR).

I like videos that are short and to the point.

I hate buying a car. There's too much the dealer can do to you to get over on you. It is frustrating.

I concentrated on the out the door price in order to keep it simple and not fall for the shell game. My old car went to Carvana. Didn't get top dollar from Carvana, but it is a stress free sale. So I pounded the dealer on the OTD price, had them remove most of the added on dealer crap, and arrived at the final down to the penny cost. All good.

The dry erase board is very helpful. Seeing what your saying really helps. Thanks.

@selenachronister9642

7 ай бұрын

I agree.

@selenachronister9642

7 ай бұрын

I appreciate this channel SO much. I started a career in auto financing and the training was scattered so listening to your videos is helping fill in the gaps and better teach me. Thank you!!!

I bought my first car in 1992. I’ve owned a dozen cars in my lifetime and it took me several transactions and a great deal of money to learn the lessons that Ray has laid out here in just a few minutes. Vehicles are a commodities business. Unless you are buying something unique or rare, chances are there is another dealership in your town selling that same car with all the same features. You like a car? Fine. Make sure you like the deal for the car, too. Do not trust those who work at the dealership. They want your money. You have to be a strong advocate for yourself to avoid being taken advantage of. You do not know what a good deal is until you have shopped around to other dealerships.

Thanks! Yes, more videos like these (shorter length).

48 months is plenty. Like you said, 84 or 96 months and you've already bought your next car. Dealers , Car companies advertise monthly payments , but they'll never tell you the price of the vehicle which is really wrong but legal. You're very well spoken and clear. Our kids today need to see videos like yours. Take care.

@jimh.412

25 күн бұрын

Most cars are way too experience now to only go 48 months.

These are awesome tips, I would say required material before you buy. The tenor of the negotiations changes drastically when you start dealing in OTD numbers. It's like the term "OTD" makes them realize they're not dealing with a dummy. Also, in my experience the dealer will always try to beat the APR on your pre-approved loan, so it's to your benefit to get this done before you walk into a dealership.

very well said Ray, its all pretty simple really......I used to hate buying vehicles because I was nervous, horrible at negotiating, and put too much trust into them....and that all comes across when you speak to them....they can read people well so if your feeling it they probably know...I really sucked so bad it pissed me off......So I learned to be pretty decent at this game and I actually like the art of negotiating and did pretty well all thru pandemic........confidence goes a long way It's just business, nothing more or less

Keep them coming. Helpful and informative. Thanks.

Excellent, short and to the point. Thank you!

Good info for buying a common auto. It can take time and be exhausting. Sometimes one wants a rare car and ya gotta pounce to get it (ahead of other buyers due to supply and demand) and most of this goes out the window. Those are fun transactions.

Very well constructed and well delivered presentation.

Really good information for most new car buyers. The one part that I feel that is important is to do all of your homework before you walk out of your door. A few hours spent on the internet will at least put you on a better footing with a dealership with some knowledge. In my case and an F150 I bought this spring was the MSRP of the vehicle and the approximate actual dealership cost. As I was paying cash, it was easier but I did set a max total out of pocket and in doing that I actually bought the truck for about $3K less then that amount. Homework first!!!!

DO NOT trade anything in. sell it yourself. dealers are liars, period.

@erniesteele3164

16 күн бұрын

not liars... better-educated car business people.

@user-rp8qc7qx2m

15 күн бұрын

@@erniesteele3164 did your daughter marry one of these scumbag dealers? you certainly are giving the crooks love.

Just found you guys and your information is great! Thank you so much for the education. I’m the kind of person who buys a car and keeps it forever. Had my Subaru Outback for 20 years and loved it. Finally had to get a new one during Covid and got an ok deal on an Impreza because no Crosstreks were available. Have had the Impreza for 3 years and really would prefer the height of the Crosstrek. Looks like more inventory is available. Any suggestions on best way to get one? Thanks a million. And I’m binge watching your videos before I step foot into the dealership.

Good video... I did the same as you for almost 30 years...Every sales-related job in the dealership when it was a straight commission position and you still got a "demo"

Love your channel! My wife and I have watched a lot of your videos and even rewatched a few! This one like the others does not disappoint! Thank you for doing what you do!

This was extremely informative thanks so much!! Especially with car buying experience being like it is currently

Extremely informative video! As much as I wouldn’t want anybody to have to go to Washington DC, as consumers we could use a lot more content like this. Thank you for posting!

Thanks Ray, actional information is always helpful.

@daretodream...898

4 ай бұрын

WARNING ⚠️⚠️⚠️ ... Have your son do research on the engine. There is a massive recall on MOST KIA and Hyundai engines.

Another tip in regard to “before you go” call your insurance carrier so you know what it will cost to insure for full coverage. Weird how folks forget that one. Early payment penalty. If they put an early payment penalty on you. Say Adios. My bother just did that very thing and they immediately dropped that provision.

Great delivery and important useful information packed into this short video. Thanks.

This is a great video! So much knowledge, experience and information. Thank you! More please!

I’ve been on a CarEdge videos binge lately. Gotta make sure im prepared before i purchase a vehicle next month lol

Thank you for the advice and the information!!

Excellent video! Great concise summary of it all!

The most info packed into one video yall have made.

Thank you for the videos I'm learning a lot and have applied some of these techniques you teach and started the process. Of getting a tundra limited, I was shown an otd with no break down in prices and figured it was a base model and I quickly spoke to dealer that there were no prices even though he stated it had what I was looking for.

If you want to be in power of the negotiation. Best advice research what your dmv fees are and taxes and add it, next if you’re set on a specific car do research on the best price you can get (google is your friend), once it’s all set and done if you have the cash get a cashiers check or if you’re getting a loan look for banks who’ll give you your set price on the car and take the check with you and tell the salesperson that is your purchase price and the check is ready and to run it by their sales manager. You’ll get denied but there’s dealers who will take it. Cash/check is king and they won’t hassle looking for loans. The more firm you stay on your price the better deal you’ll get

This is great information: quick and concise!

Thanks for the info. I’m deciphering information from your videos to educate myself on how to negotiate a vehicle that I ordered with a trade. Hopefully I can get ahead of this build date is Monday, December 18. 2023.

This information is very much appreciated. Thank you for sharing it.

Love this informational video. Thank you!❤

Great video! succinct and valuable, thanks.

You’re amazing sir! Liked and subscribed. Thank you for the helpful tips and info!

Great info, I used this same info on my last purchase...tks

Great teaching . Thanks

The more, the merrier! Keep these informative videos coming. We all need to be prepared when we step into the dealer’s showroom !

Very helpful. thanks. The more you write on the board the better.

Thank you for all of the information you teach. I feel like a more savvy car buyer.

Great info, Ray!! Keep these types of videos coming! Tell Zach to go back to VC, NJ instead of you going down to DC ..lol

Just bought a used car today and i used basically this and kevin hunters approaches and i got a sick price. Been monitoring this car for 2+ years nationwide and finally snagged a deal well below kbb and every other price ive ever come across in 2 years. Gm was pissed so ik i fought tooth and nail. Its worth it folks! Its your money. And dont buy what you cant pay off within a year!

@nancythane4104

3 ай бұрын

@seismicwhale5371 I *wish* I could pay odd a can in a year. Unfortunately, I'm on SSDI, so survival is paramount.

@nancythane4104

3 ай бұрын

*ARRRGH* PAY OFF A CAR IN A YEAR. Darn tablet!

Valuable information from all your bids. I will use it. Thank you.

Great info. Thanks for sharing

Out the Door Price.. in the UK it's called 'On the Road' price

Hahahaha I paid 70k for my truck a month ago. Carvana offered $63,400. Pretty decent Caredge offered $34,600. They must just be running a regular old scam over there lol.

I used to sell cars and man you are apot on , everything you said is helpful to those who do not know.

Thanks to Car Edge, i went into the dealer back in April to buy my new Hyundai Santa Cruz armed with all the tools and confidence i needed to make sure i got the deal i wanted. Thankfully Hyundai was running a 0% interest promo so i dodnt have to worry about APR, but i did make sure i saw the OTD price before even negotiating. I saw some dealer added fees which i immedialty had them removez and finally was able to get my car for 1k less than MSRP along with working them uo from a lowball offer on my trade-in by pulling up similar vehicles, with higher mileage than minez that they were seling at their dealership for alot more. So thank you Car Edge!

@user-nc3pt7zc3c

3 ай бұрын

Sorry to say this but $1000. Less than MSRP is nothing, they still ripped you off. I know, I worked as a Car Salesman while I went to College and I know all their tricks.

Great info, thanks for sharing!

Last time I bought a new truck, I refused all the fluffy add on crap. They were visibly frustrated with me, so I figured I was on the right track. Wish I had your info in this video at the time 😂

Some really good tips for sure! Thank You!

So very helpful! Thank you.

Good info. Thank you for sharing.

great advice. Thanks for the short list.

i really liked this format Ray thanku

I love this! Keep the info coming!

Bravo 👏 great presentation! Thank you!

Well done. Thanks!

Great info. Thx. Makes me a better consumer.

Thank you so much. Very resourceful 🤗🤗

This was a great and helpful video thank you so much please make more like this thank you!!!!

Outstanding concise tutorial, yes more videos like this would be great to view

Great video! I wish i knew this in 2020 before i got my car from the dealer.They got me big time on the financing but i refinanced about 2 years later and now i'm really happy.

Went to your car edge sell site and highest offer was 3k less than my lowest offer from a dealer and half as much as I could sell it for PP. Way to go.

I just bought a new vehicle and told the sales person if add ons like paint protection and such were brought up the deal was over and I was leaving. Well guess what, they just couldn’t control themselves and I bought the same car down the road.

Thanks Ray,its all good.I was wondering if they slip one in on car loans to keep people from paying it off early.Like all the first payments go on the interest first.

Bammm! Straight n to the point of car negotiations, thanks Ray.👍🏽😁

More useful than the "Buy Rate" is the customer needs to shop around and know what rate they can obtain on their own. They should start at their personal bank and a few others. Credit Unions typically offer better rates. I have had dealers offer better rates than my credit union when they hear I'm going to obtain my own financing.

@Officialx_Sy

4 ай бұрын

How long would u technically have to be with a credit union to get pre approval and ratings?

@joehall6709

4 ай бұрын

@@Officialx_Sy I would think a couple years so they personally know your banking history, regular deposits, no bad checks, etc. Obviously your credit score which indicates a longer history of creditworthiness. A pre-approval would also be very dependent on the vehicle, such as new (never titled), out the door price and how much cash you're putting down.

glad they have to provide all these infos in eu as standard and have to answer that when asked, except buy/sell rate which is mostly regulated from the ezb

Thanks Ray . Very informative video !

Very informative THANK you guys! 👌🏼👏👏

Amazing! Thank you

More please! Been having very bad luck with cars past month BUT have made some amazingly good decisions and saved many thousands thanks to u guys since, thank u!!👍🙌💪

good info!thank you!!!

Always good information

Thank you for the info.