Yes they got me with 3 sales people telling how important getting thing are nessary. The car started o ut 24,000 ended up 34,ooo. First car I bought. Never used any of these products.
I've tried to buy a new vehicle for cash three times in the past month and was met with nothing but roadblocks at every turn. One dealership wanted to lowball me on my trade so I said I'd sell it to CarMax for more as I already had a solid offer from them. This dealership, SMART TOYOTA IN MADISON, WI, then said if I didn't trade my car to them at the price they wanted that they flat out wouldn't sell me the new car, period. They wanted trades to keep their used car lot stocked and wouldn't let anyone come in and buy one of their new cars for cash without a trade-in. Utterly ridiculous. The other two times the dealers wanted to add in almost five grand in useless add-ons, like interior/exterior protection, door edge guards and the like. I said that's a deal breaker and their responses were basically for me to leave. The day Amazon starts selling cars is the day I stop going to dealers all together.
@ladawg81 sometimes it’s not easy to walk away. You’re dealing with thugs using mafia tactics. They price fix with other local dealerships. Collusion. Many industries do it. Something has to change. Never tell them that you have a trade in but once you bring it into the deal, the paperwork magically changes. No win situation for customers.
I've worked at a Ford dealership in Indiana and have been in the business for 30yrs. I've never seen profits so high as they are now. It's turned into the business I used to love to the business I can't stand. I cant' sell loved ones ,friends or previous customers I care about because if we don't make a minimum of $6000 on the front they won't even take the deal. It's not selling anymore its stealing. I understand inventory is low but these people will have a tough time trading out of these vehicles. Just to give you and example we just sold a used 2022 Ford maverick that was used with 6k miles that stickered for $27k and sold it for 48k!!!! This happens daily now. Customer are so confused on what vehicle are worth they are totally taken advantage of. EVERYTHING new is marked up from 5k to 50k on a GT500. It's sad the business has come to this and for the first time I'll be looking for a career change. I could write a book on the shadiness that goes on in the industry since I've worked from sales to a GM position. Keep up the good work and would be interested in talking with you at some pointe.
B. Nelson, please email me directly at ray@joinyaa.com. I would love to have a conversation with you regarding your time in the business. I do hope to hear from you soon. All the best, Ray
No matter the market is…It’s a Customer fault they can purchase overpriced car!!!!! Amen…Don’t feel sorry for them…EVERYONE GOT SMART PHONE so do the reaserch👊🏽
I used to work for a bank as a loan processor and I processed the car loans from dealerships. The dealers were paid a flat payment of $500 for sending us the contract and an additional payment ranging from $1000-$2000 if they were able to get you to sign at a higher interest rate than what we offered. With indirect lending dealers aren't required to follow the same regulations as banks to provide transparency on the interest rates they put on the contract. Always ask the dealer to see the original offer letter from the lending institution to compare the interest rate on the offer letter and the rate on the dealer contract. Knowing this can save you thousands over the life of your loan. You guys just started talking about this as I finished typing this.
@TheMrDudiness What?! I think you need to reassess your math. A $40k loan with a 2% markup on the rate amortized over 60 months is $2,067 in additional interest. So if the bank approved the loan for 3% and the dealership got you to sign at 5%, the dealer keeps the interest from the markup. The bank still gets the interest paid at the 3% rate. The bank gets their interest, plus increases their loan portfolio and the dealer gets to take even more money out of the customer's pocket. You would definitely be the type the dealer would take advantage of 😞
"Always ask the dealer to see the original offer letter from the lending institution to compare the interest rate on the offer letter and the rate on the dealer contract." I doubt they will give you that by making a straight face and lie by saying, "we don't have that and our policy prevent us from disclosing that information" . I have had my share of experience where the stealership is kind of taking advantage of under-informed customers as they literally told me that the car I leased is due for inspection by the end of lease and I will need to pay $500 for the inspection cost. While within a week I look up my online financial service profile, it actually told me that the inspection service was complementary without charge conducted by 3rd party Autovin vendor. So yeah, I did everything via financial service instead and purposefully ignored stealership calls from there since they tried to charge me $500 on something that was designed to be free.
@@scottrozzi1780 No, the finance company doesn't charge dealership any fees to my knowledge. If they can find a finance company to approve the loan, it would most likely be a subprime lender who will finance the loan at a ridiculous interest rate.
In return for these rules (they can't sell nitrogen fill for tires, so what? Gap insurance will still be deemed to have benefit for the customer even when the money would go to someone else) there will be protections for dealers. "Only fair", right? They use this moment to extract those protections, then when there's a downturn in dealer business, they're protected at our expense. Despite Elon Musk's business model we'll never be rid of those dealers! And in the meantime they can still do about the same tricks, just modify slightly.
Mine has $4000 for over a year ( at least it was, I stopped looking and calling. That is on top of the fact that you reserve with $1K non refundable for car of unknown color with unknown additional loaded features that you did not ask for. When cars show up, you get a call that you can choose a car let's say Toyota Rav4 xle but in blue with additional pkg convenience pkg even though you ordered Silver xle with no additional packages. Take it or leave it bc they have 60-80 people waiting list and get 10 cars. Now, you can wait but next month your choices may be as: white with extra weather pkg and black emblems and cross bars. So basically each trim has preloaded extra additional stuff worth additional $2000. By the time all the delivery fee and doc fee is added you are at $39k for $32k car
Just tried to buy a car that was advertised online at $27403. After going thru 2 sales rep, the sales manager finally approved the deal at the advertised price. (We had a heck of a time convincing the sales person we did not want their $3400 of add-on.) Then the finance manager came out and refused to sell the car at the advertised price. We spent 2 hours negotiating in good faith and had manager approval. What a bunch of crap!
Hello Ray and Zach. Those suggested letters written by auto dealers sound like what a kidnapper would make a victim say in a letter to their family. "I am being treated well. Everyone is so friendly. The food is very good. "
Thank You for being an advocate for the consumers. I was waiting for dealers to do this. I don’t want to get screwed by over charges. I would be happy to not be anonymous.
I just left a comment with them. I hate how dealerships treat cash buyers like crap and you have to fight to keep the fact you're using cash a secret until the deal is just about finalized or they start adding random fees.
Never pay cash. Work the deal. Make sure there is no pre payment penalty. If there is then i think if you pay the loan almost off the first month where maybe you only have say 1k left to owe and you pay it the next month you would only pay a penalty on that last 1k. Obviously double check this but definitely look into this.
I’ve been riding a motorcycle for 10 years because I hate the idea of going into a dealership and fighting with somebody just to not getting screwed over. If their practices were better I would have bought a car years ago.
it happens with motorcycles too, They try to screw you. Ive bought 3 new motorcycles and its a nightmare. Recently bought a $50k truck and the process was amazing. I did have to go across America to get it but it was a good price and a great buying process.
Went to a Prestige Benz Dealer in Cali, they had a pre owned Highlander and managed to drop their asking about $2,500 but they weren’t budging for my $3500-$4000 drop. The manager said unbelievable and walked out after I said I wouldn’t go higher. Oh well just testing the waters gonna go to different dealer has the same car for lower price same trim, same miles, just different color
The FTC needs to do even more and someone needs to look at the automotive insurance industry as well. They’re a bunch of shady people too. The consumers that work hard and make the least amount of money get greased more than everyone.
I once had an auto insurance mistakenly put me under as a married person when I clearly checked the single box and they made me pay $20 for their own mistake otherwise they couldn’t fix it. They also charge a electronic filing fee, what a joke. What next? Are they going to charge us for their internet bill and then light Bill? It’s utterly ridiculous of any business to charge for any fee like that. We as consumers should charge them $50 for doing business with them and gas. That’s how pathetic they act. We should stoop to their level - dealerships are on the same spectrum
The thing is- YAA usually are making points about franchise dealerships. Obviously there are shady people all over dealerships. But the non franchise dealerships are 10 times as bad. The majority of what they are selling is absolute garbage. They usually dont have a trained service team to even understand what might be wrong with a car they are selling. They also are not responsible to uphold the name of an entire brand. So they dont give a crap if someone leaves them a bad yelp review.
FTC WEC FBI DOJ have been takin over by the democrats who want a one party nation . They will do nothing . They have ford and GM under wrap and gm and ford will do whatever the government says to do .
I went to Car Max. The price was too high and they wouldn't negotiate. After a few attempts to negotiate with them, they said WE NEVER Negotiate. I told them, you just negotiated yourself out of a sell. Bye.
But that's the point of Carmax?? They're transparent and the price is the price. You go to them because you don't want to have to negotiate, you just want to know the price and make a purchase.
They were out of a “sale”, not out of a “sell”. As an immigrant and English being my second language, I am amazed how US born citizens don’t know English.
@@ambermcdonald1302 agreed- the original poster is wasting time at carmax if he is looking to negotiate. It is in print all over their website and probably on signs at the actual dealership. They are a one price dealership. Nobody at the dealership even had the authority to change the price. To be fair- the majority of dealerships are not willing to negotiate prices over the last 18 months. LOL Carmax is one dealership that will not be impacted by these new laws. they actually do advertise their prices online with no tricks. LOL- you can buy the car online. Only problem with carmax is that the customer has to pay for transportation of a vehicle even before they get to test drive it. There is no refund for that.
Thanks for your advocacy! I'm not much for increased government regulation generally speaking, but this topic is one of the things that's been begging for the government to get involved for decades. FWIW, I work in procurement for a Fortune 50-sized company and negotiate multimillion-dollar (and occasionally multibillion dollar) contracts for a living, so I'm both comfortable with and enjoy the negotiation process. This is why I often purchase vehicles for my friends and family as well as for myself, leading me to buy 2 or 3 a year on average. The challenge is that I have to waste on average 7 to 8 hours per purchase (including research, test drives, and such) to get a reasonable and fair deal, and that assumes I can even close with my dealer of choice. I cannot imagine how "regular" folks can stand deceptive pricing, having to negotiate away products that have no benefit for them, double- and triple-checking to be sure they haven't inadvertently agreed to F&I products they don't want or need, and all the other discriminatory practices these proposed rules would finally disallow. Thanks for bringing more attention to the rulemaking process and stupid games the dealers are playing to try to subvert them.
Work for the same dealer group for 20 years here in Winnipeg Canada. Been at our Toyota store the last 11. Been in sales, sales Managment and now in sales again. We do have a lot more regulations up North here, but I love watching you guys and appreciate you being a advocate for the consumer. Good on you, eh! 🇨🇦
Keep them coming guys please, my local dealers in central florida are trying to gain over 5k to 10k over asking price from toyota Honda fords and dodge, I’ve been to several dealers and all the same.
Yup. It helped me though. I bought a new Ford Mustang in Orlando in 2016 for $20,999. Caravana offered me almost $19,000 last year for my car, which had 60,000 miles on it. I almost basically had a car for free for 6 years lol.
@@ameslay1211 right most of it is the dealership is saying we will give you this loan charge 3% higher or more to make your money! Dealership is selling the car at 3-6k over book and loan companies got all this government money to loan money out to the mass and banks are charging 13% on 670 credit scores.
I'm enjoying the dealers reaching out to me... I've been holding out all summer for a car, and now the prices are dropping by the 1000s. It was a hundred here and there, now they are 1000+.
When I bought my 2020 Hyundai SF, the dealer in College Station, Texas tried to get me to buy a $1700+ GPS location service add on. When I told them I would walk if they would not remove it, they sent me to financing to sign for the price I asked for. The only thing I wanted was Gap.
Credit Unions offer GAP at around $250. You probably paid $795 through the dealer. Hopefully not but remember that for next time if you can finance through a local credit union.
I spent 90 minutes at a BMW dealer just saying “no” to all the crap they wanted me to buy. The guy actually apologized for what we both knew was a waste of time. He said “my manager requires I go through all this.”
….well, when I was purchasing my G30 (BMW)…I told the F&I manager to spare me the add-on items unless it’s free/no charge. Otherwise, don’t waste my time.
Just bought a 2022 Lexus IS350 F Sport in California today for MSRP at 2.49% APR. Was a no brainer for me🤙🏽 Pick it up tomorrow morning. Fresh off the truck. Very few white with red leather interior available. Dealership did me right.
@@FalconMidget the red interior is far superior than the black interior. It just looks significantly better. Past two cars have been red and all I get are compliments 🤷🏽♂️
@@richardball7251 navigation package which adds the 10.3 inch screen, all weather floor mats, memory package, power moonroof, Intuitive parking assist package. All are factory add ons, not dealer add ons. The MSRP for the car as is is the exact same if I were to build it on Lexus. The dealership didn't add any paint protection, nitrogen in tires, interior 3M protection or any of that other crap you see other dealers adding. It's straight sticker MSRP out the door. For reference, I went to 3 Honda dealerships and they wanted $600 to $650 a month for a Accord Sport 2.0 with $5k down. For a decent dinner extra I'm getting a Lexus. I also have a 790 credit score and went through Navy Federal Credit Union for my loan rather than Lexus Financial. My brother is a sales manager for Audi and told me to pull the trigger immediately on the deal I was getting. He also ran the numbers for me.
I work as a porter for a dealership, and this entire past week our GM and salesmen have had a hair up their ass and making our lives terrible. I wonder if this has anything to do with it.
I got pre-approved and locked my 3 credit scores. They quoted $52k OTD before I came into the dealership. Once they tried running my credit they found out it was blocked they lied and said the real OTD price was $55k. They really don't want to sell to cash buyers or anyone who can get a better rate and there's nothing customers can do.
@@jackiemorrissey6704 why give them the kickback? You're just encouraging them to screw over more customers. Also my bank was offering 4.36% for 72m and Kia was offering 4.99%
New viewer here. It would be awesome if you guys came out to TX and helped members buy cars. I didn't realize how bad the shortage was until I went to a Toyota dealership. I did manage to test drive a Rav4 and liked it, but I definitely need someone with a backbone to go with me. Even with the knowledge I've gained from your videos.
I went with my ex to help her get a car. Car price was 16k and she was putting down 4k. The financing guy brought out the paperwork with 3k of extra stuff, gap insurance and a warranty. Told him we didn't want the gap insurance and he started arguing with me. I told him with her down-payment she could total the car leaving the lot and still get money back we were not paying 1k for gap Insurance. Was so pissed off told them take off all the extra or we were walking, got the car for 16k as advertised. If he wasn't an ass about the gap insurance, may have at least considered the warranty but not after trying to screw us.
I think you guys just sold me on CarMax! Thank you for all the great info, I was about to go into the fray of car buying totally unprepared. Thanks to you I am forewarned and have a few pointers!
Unfortunately, small auto dealers with consciousness have gone out of business due to the crazy hikes in prices by the bigger more aggressive dealerships. I always looked to buy from an individual until I was introduced to this family-owned dealership where I paid the price as advertised, no attempts to mark up, no dealer fees, and good quality used vehicles. He didn’t care if I paid all cash or financed through my credit union. When I called him this year, he said he was being pushed out of business by predatory practices of the bigger dealerships
Dealers will be forced to use service department to lie to customers every time saying they needs tires, brakes, batteries, new engine, new transmission and the list would be long of what would need to be replaced. They absolutely would try to shaft every customer as hard as possible.
I try to never take my vehicles for anything at the dealerships. I'll have the oil changed that they toss in when you buy the vehicle but that's it. They overcharge for all of their services as it is.
They already do that in the service department. Dealers usually make their money in used cars, service department and the F&I office. I thought the No haggle price model Saturn used was good, too bad their product wasn’t so great.
I usually have a Bluetooth OBDII Scanner in handy just in case I need to scan the car if anything, so that I am more educated before I head to the dealership for maintenance or diagnostic.
Ontario motor vehicle council in Ontario Canada also known as omvic did the same thing a few years ago and caught many shady businesses selling salvage and rolled back odometer cars with out declaration to innocent buyers all day long .it went as bad as dealers Bringing cars with high mileage from Quebec and turning back odometer and selling next day for huge profit the next day
I never really like to participate in these sort of things I usually take what happens happens approach to these kinda of things but man… a huge frustration of mine in life is I love cars and dealerships are just the most terrible places to be. I feel like my gaurd is up every step up the way and my anxiety of the process is through the roof .. never have I felt so judged and looked down on by a salesman for refusing extended warranties and extra expenses after the deal has been made. Never have a felt like no matter what I try I’m getting screwed. So I left a comment
Thank you for your services in advocating against crooked dealerships .I myself had bad experiences with car dealership from adding a additional $10,000 dollars more after told them I was paying with cash. Also it has been increasing problem with dealerships selling salvage undisclosed vehicles as clean title due to shortages of used vehicles. I had bad experiences with South Carolina and Virginia Dealership which I had to seek legal action against them for their mischievous practices .
@@itstenebro Yes , the second one with CS Auto of SC I filed against dealerships bond. The first one was my son's car which he purchased it from Mike Duman in VA.My son didn't want to follow through with it and got scammed for over $25000 4 car that was total in accident 4 times but sold as clean.Mikes defense was the Auto Check Reported returned clean. However the Carfax reported the cars accidents car value dropped to be worth $10,000.He claim we could return the car on a trade that he was unaware and give full amount we paid him.The dealership already over charge my son for the used 2017 Honda.A brand new 2020 one off the Honda lot cost the same thing with cheaper payments.But then guess what the crooks tried to do to us.Mike the owner added the balance of the new car and the salvage car together bringing the total to $55,000 dollars.
Those with low income and/or bad credit are so happy that they could get any loan at all. These people are mainly happy they don't have to walk or skateboard to work.
Here, here! Car salesman having to learn how to sell. I was a professional salesperson who at one time did two short stints with an auto dealer & was appalled by the practices used. It starts at the top & management for the most part are ignorant of “sales”.
Great information about car dealers. I purchased a Toyota In 2016 and it was the worse experience, they keep me from early morning to late evening to close the deal. I never purchased another Toyota in my life. All the dealer are a pain with their sale gimmicks. One time the price with all the discounts was one and when paying cash the refuse it unless I financed. Trick trick they know people is in need of transportation. Thank for the information.
What I find ironic about the letters is that NADA are trying to mislead the FTC just like some dealers mislead customers. One ounce of hope is that the FTC can sniff out form letters and also disregard “anon” letters. I always tell folks, you either regulate yourself or someone regulates you!
Thanks again for the amazing information you're given people an eye opening experience into the car buying process i can't wait until i can join into the YAA community so when the time comes to trade in my 2019 Sierra with only 18000 miles on it i don't lose my shirt papa Ray great job tonight and Zach your papa has schooled you well lol I look forward to seeing your feed on Monday
Thanks for your help with our recent purchase of a New 2022 Cadillac XT5 Premium Luxury Platinum in Ocala Florida. We were able to negotiate away about half of the Additional Market Value of $5,000 over the MSRP. And we avoided the nonsense from the F&I office altogether. All of that was possible because of help I obtained from my Premium membership with YAA. Thanks guys
i came upon your channel a while ago and have been watching your videos. One of the things I have picked up from the education gleaned from u and zach is i do not understand dealers b.s. it is like a foreign language. However, while watching your latest video, i now know BUY RATE!!!!! thanx for the tips, I am sending your videos to all i know.
The transmission failed in our 2016 Escape. The dealer did nothing to help and told us it would be $7000 and we had to wait six months. They further insulted us by offering $2500 as a trade in with the bad transmission. I will never ever buy another Ford or go back to IRA FORD in Saco Maine or any other IRA dealer.
KUDOS to YAA for bringing this proposal to out attention. I just submitted my comment in favor of these common sense regulations. This rip off conspiracy must stop
I don’t know what reality you guys live in but every dealer I went to is asking a minimum of $10k over sticker price for any vehicle with msrp of $30k-40k. They could care less about these new rules and they could care less if you have cash. And they say this is going to be the new norm because demand is greater than supply. They feel the ball is in their court and damned be the consumer.
I don't know what region you are in but you can find dealers selling for MSRP. I work for a BMW dealer. We sell every car at MSRP, no exceptions. We also accept cash deals. We also have zero mandatory add-ons.
@@ameslay1211 im in Arizona where are you need a car just to go to the grocery store or even to go to the park or anywhere everything is very spread out here and cars seem to be at a premium I’ve had emails back-and-forth with several sales people from various dealerships Ford Kia BMW and Dodge they all tell me because I don’t really want to come in there telling me to come in they all tell me the minimum I’m going to pay is $10,000 over MSRP on any vehicle I’ve been interested in
Guys you are great! Please do a segment on why dealerships are increasingly become part of large multi-dealer corporations. Here in Florida some of our largest business's are Auto Dealers!
I got quoted for a 10K per year 36 month lease for a 47K msrp BMW X1 $1000 dollars out of pocket at signing with a monthly payments of 1020 per month! I received that quote via email from a dealship I've done business with before! I wrote back the dealer the following and of course got no response. "Please explain how you arrive at a total cost of a 3 years lease at $38,000.00 just over 80% of the cost of the vehicle with a residual of $27,000?! This is crazy! Thoughts on this lunacy?
I don't have a huge problem with Dealers offering items that do not benefit the consumer, but when they tell you that they won't sell you the car unless you opt in for their shady options that's a red line. Dealers are now using their Bait and Switch items as a cudgel to push a customer into buying. If it's an Option, why can't I say NO? That's what they are doing now. If the Dealer is honest and forthright, why would they be against these regulations? I don't see how these regulations would harm them a bit.
I just went to a dealer to buy a new car. Let’s say MSRP was $45k. Tax and fees were around $6k, but the total price of vehicle was $58k. I looked at print out and there was something hung called a “TX ACCESSORY” listed that cost “$7k. “What is this for?” I asked the salesman. “Oh, that is our fee for the accessories.” He said. “No it isn’t. Those come to you as they are. You don’t install anything,” I pointed out. SERIOuSLY?! It’s despicable that they would tack on $7k above MSRP For NOTHING, now you’re going to lie to my face?? Seriously??
Hey! We just went pre-car shopping, looking, at 5 different dealerships in Eureka Ca. There were two hybrids- one without a price marked, a ‘17 Camry hybrid - and 2020 sonata hybrid. There’s really little available.
Buick/Electra would present itself the same way McD's does. Some are Corporate Stores, some are Franchise Stores. Electra would, most likely, be New Sales Oriented. Buick (/Electra ?) would be Service and Used Vehicle Centers.
About 25 years ago I worked for a sub-prime lender who worked with dealers who would sell not just cars but motor homes, boats, RV's, etc to ANYONE. The buyers had NO credit and could NOT afford what they were buying. I was responsible for getting blood out of the proverbial turnips. The dealers were total crooks but the customers were just as bad. They bought whatever toys they wanted knowing that, after making zero payments, in a few months they would be repossessed. It left such a bitter taste that I would NEVER buy from any dealer. The new rules may help a little but dealers and lenders are already putting their heads together to find ways around them. I hope people watch your videos and learn from them but the only lesson they really need is to watch the 1980 movie "Used Cars" starring Kurt Russell.
In all honesty; I think folks need to educate themselves on FTC scope of regulation. If I suspect there is an attempt at false advertisement by anyone (dealers especially), I am not at all shy to make the false advertiser know what federal law they are breaking and how FTC would love to get involved
Literally tried to have a dealer try and sell me and my wife a used Chrysler Pacifica with 60,000 miles yesterday listed at $30,000 for their offer of $44,000!
@@colinl5951 it's obvious your a car salesman, but your only making yourself and your "proffession" (I'm sure somewhere their is a car salesman who is proffessional" ) look worse..no supply and demand and inflation does not justify a 2/3 worn out, out of warranty vehicle selling for almost 50% over its original sticker price. That is idiotic. I anxiously awaiting the soon coming day when new dealerships don't exist except as delivery and service centers. For direct ordered vehicles..
I had a 2008 Mini Clubman S. It was 1 breakdown after another. I paid over $14,000 in repairs in the time that I owned it, including a new transmission. Then when I tried to sell it, being very honest about all of its history, the buyers came out of the woodwork. I easily sold it.
So does #1 include not automatically putting all the BS charges for paint protection, pin stripe, wheel protection etc, etc? In other words these add ons can be offered to the customer and not automatically included, whether the customer wants or not? Because these charges are so inflated, they basically are nothing but profit to the dealership and the customer doesn't want. I hope this is the case, a customer should be offered this crap and they decide whether they want or not and not be forced!!!!
I can't stand non-negotiable places.... I do my best to just steer clear of them... If I feel like they have an amazing price then I might consider them. Otherwise, it's a no go for me.
I bought a Porsche 911 last year. It was the easiest buys I’ve ever experienced. Later I went back and bought a Volvo xc 90 from a sister store, using the same salesperson from Porsche….again, I was treated well.
Bad example using Earl Stewart. They sell you an ilusión of transparency but their service department will rip you off w rebuilt parts!! Unhappy Toyota client here!!
good for u folks your quite lucky but many of us are not and i have to agreewith the proposal ive been through many times at a time we didnt know things like we do now
I am in the car business and I agree with most of these FTC rules. There shouldnt be markup for cash buyers. The advertised price should be the price. Dealer markup should be included in advertised price. These seem reasonable. I have an issue with selling products that have "no value to the buyers." Who decides what has value? I agree that etching and nitrogen filled tires have no value, but this video says that door edge guards have no value. Something like that has value to me. I paid for it on my car. So who decides what has value? This seems too vague and is a bad rule.
Great and informative video again fellas. My wife and I are currently looking at a vehicle and have found market adjustment of 12k to 20k above msrp (absolute robbery in my book) within a 30 mile difference of each other. and are enforcing their price on sticker. The online and internet prices are at msrp in small print it states about extra fees and market "adjustments" They both gave us trade in prices for current vehicle at about 13k below current pricing of such vehicle. LMAO In Florida btw. And the one dealers actual owner is driving the one... and won't move on price.
We are not unhappy about trade price but... the 2 shady deals on this are discouraging. We are ok with the trade in price. But believe we are being hosed because of the market adjustment.
What about a loan company that paid only the interest for 5 months on my vehicle and nothing on the principal balance? Reported them to the BBB and my state attorneys office because of this. On top of them not putting extra money I sent to be only paid on the principal.
Over the years my biggest issue is price. If the car sells for 30K fine. But the next person pays 29 and the next 31K. You never know what is a fair price.
Wife and I want a Porsche 911 and a new SUV but nah I’ll keep banking the cash I’m not paying over for anything period. Just stop buying unless you have no choice.
Yaa should consider training reps to help consumers buy cars. Not everyone wants to spend the time on the learning curve. We need buyers agents for cars. I sell residential real estate and it's much more straight forward than buying a car.
These rules must be put in place but more importantly, they MUST be Enforced!!! I know of a few shady sleazebag dealers who advertised one price, then add fees such as transport from auction, and cleaning prep fees to the tune of $5000 or more.
