Can I negotiate a price and then stipulate the deal on getting the special interest rate (hypothetically a 2024 Mazda3 Preferred Hatchback for $25,000+tax and fees, then demand the 0% for 3 years).
Hello from the UK , Looking to change my car BMW 320d Sport 28,000 FSH . Auto Trader value is 16100 , is that what the dealer will offer ? Having a test drive on a Lexus UX . Thanks
Been watching your content for a while in preparation for an upcoming new car purchase - I'm sold on the site, will be using your tools - thanks for all the help/info.
I've been watching a ton of your videos lately, which led me to look at my huge receipt for my last car. Paid under listed price and luckily the only dealer charge on there was the $85 doc fee heheh. Great info ! Looking into buying my first brand new car now 😵💫
This is such a great video. So happy to see how far you and Zach have grown and expanded your business. And I’m thankful to have my extended warranty through y’all - definite piece of mind. Ray’s sharing his expertise is so generous and helpful!!
Learned a TON of useful informations from this channel and the website. Got myself a 2024 Mazda CX-50 select for $32.5k OTD at 0.9% APR just a week ago. Without the knowledge I gained from you guys. I would’ve been scammed for another $1.9 delivery fees, weird package that cost $2k, and unwanted and useless warranties. Glad I walked away from that!
Incredible video. Thank you for sharing your knowledge and years of experience, Ray. I just sent the initial "I'm interested in this vehicle email" from your templates. I can't find the "your blowing it " email as I'm sure they are going to ask me to call or come in lol. Is that for paid subscribers only? Thank you for ALL your videos. I've been watching for months now!!!
10% rule! My wife and I were just hit with an increase of $200 per month on our insurance payment. So according to the rule a car payment needs to be reduced accordantly. We need less expensive cars !
My local Toyota dealer has $4200 in dealer added on BS on every single new car they sell. So soon as you step on their lot you're at a disadvantage. I absolutely hate buying new cars. F it, just will keep what i have 🙄
Bought a Honda pilot back in April with about that much in add on crap. Using the OTD hard negotiation tactics discussed here I got all but about $500 wiped off the total price. I flat out told them it was worthless crap and I wasn't gonna pay for it.
@@jdlegas Yeah it really bothers me that it is now common practice for stealerships upon arrival of new cars automatically put on all the BS like Paint Protection, Fabric Guard, Vinyl Guard, GPS tracking crap, and more for $3000-$5000 in added crap and they won't budge on price. So my only suggestion to people now? Don't buy right now unless you HAVE to. Otherwise, just keep what you have longer. If people keep paying for this crap? It will never stop.
Just negotiate OTD deal. That way you just don’t give 💩 about the crap they “installed” on it. As far as I am concerned I’m fine with paying 29k for paint protection for as long as I get the car for 1k if I want it for 30 otd
@@michalp2362 I don't completely understand you reply. You don't care about paying for extra things as long as the price is what you want? That doesn't work out in your favor when the dealer adds $4200 worth of dealer add ons to the car and you have to start negotiations? You need to get an OTD price on a car that doesn't have all the extra crap on it. You would be at least $4200 ahead just right there. Most dealers these days will not just give you all these add ons to sell you a car. So if your ok with an OTD price that begins over $4k above what the MSRP is than great, for me? That is unacceptable.
@@eppyzI guess I didn’t make it clear but here is an example. Last time I bought a new car at a “traditional” dealership was in 2017. It was a Honda with the MSRP of about 34.5k per Hondas build your car tool which is the actual manufacturer suggested retail price per Honda, and not the price with dealer add ons. On top of that this particular car had about 3k worth of useless junk installed by the dealership. First offer they proposed was about 37k plus tax and fees which made me lol. I told them that I can give them 34k OTD with tax and all DMV fees included Basically 34k to take car home. I told them that I wouldn’t be paying a penny for their paint protection unless it’s included in my 34k otd offer. After about 3rd trip of the sales guy to the back office I told him that I wouldn’t be wasting more of his time, if they can’t make my offer work and I’m leaving. They quickly made it happen by significantly lowering the price of the car and only slightly reducing the price of dealer installed junk. It’s not your problem how they balance their numbers. All you should care about is your OTD price to take the car home.
The information that this channel shares is invaluable! Thank you!!! I signed up on your website. Can you tell me where I can find the email templates? Thanks a bunch!
Thanks gentlemen!! You guys make awesome videos that help people like me who is hunting for a used car. On your website if I am searching for some used cars I am unable to filter "Personally used cars". Please try to add a filter via which we can filter Rental/Fleet/Personal cars. Hope to see this feature soon!! Cya!!
😂😂😂 you gotta be kidding about the 10% right? I spent almost $300 on gas a month. If we apply this rule , the majority of people wouldn’t able to own a car.
Thank you for the valuable content you provide! I would greatly appreciate your insights or the possibility of a video focused on strategies for purchasing high-demand vehicles, such as the RAV4 Prime. Given its limited production and substantial demand, I've noticed that local dealerships often require a deposit to locate one. This approach seems to shift most of the negotiating power to the dealership, leaving buyers fortunate to secure a vehicle at MSRP. Could you clarify if requesting deposits is a common practice? Is there room for price negotiation in this scenario, or should one simply accept MSRP while seeking concessions on accessories? Additionally, do you think the processes in the finance office are similar for high-demand models? While there is an abundance of resources on purchasing both new and used vehicles, I have yet to encounter discussions specifically addressing the dynamics of high-demand cars. I appreciate your ongoing efforts to assist all of us!
All of these crazy budget rules don't work for me. I am retired, not old enough for Social Security yet, I pay my car insurance once per year, and do not ever finance my cars! I just buy what I feel comfortable spending.
Another great video..! I've taken what I've learned from you and successfully negotiated a deal on a new Subaru Crosstrek Onyx. Once we had established contact by email and text I was dealing with 6 different dealerships. Unfortunately none of the dealers had the colour of the trim level we wanted but most were able to or already had on order what we wanted. This gave me time to slow down the process down a bit. One dealer offered me a higher trim level they had on the lot right near the end of the month. The deal he was putting together was very good but he sold one and was left with a colour we didn't want. But this was perfect because it revealed that yes, there was plenty of room below sticker price to negotiate. Six emails then went out with "my out the door all in" offer on exactly what I wanted. I got a variety of responses, all negative except from the dealer that had offered the discounts earlier on the car we passed on. Got it in writing, put down a deposit and we should be driving it by the end of the month. Since then a few of the other dealers have reached out to me again... Sorry,too late. Thanks again @CarEdge
13:00 also I’ve learned that you wanna know get that car’s original sticker MSRP, that way you can see how much it’s actually discounted. Depending on how many years, miles, we know a car 3 years old with 30k miles was probably a lease and was valued at what, 60%? so 35%-40% discount? bids is always the way to go but sometimes you may only have found one place with that used car you want. So knowing original MSRP seems crucial, and also, make sure the loan doesn’t exceed the car’s 10th birthday (shout out Deshone) ☝🏻
I'm currently trying to buy a new/used truck and your channel has helped a lot. as a resident of northern NJ I will try to do my business with you, if the price is right haha
only problem is I have great credit and my bank denied me for a loan.. my 2nd bank daid they have a 13.5% charge and the dealer would be better to get a loan
I used CarEdge & will be picking up my new car this month. Even though I am a former Purchasing Agent, I thought about it for a long time & decided that I didn't want the hassle!
I really do not want to buy, but life is too hectict to not have a consistent vehicle. Hopefully i can strike gold in the private car market but the future is bleak.
I’ve narrowed my choices down to 2 new vehicles: Acura Integra ASpec Manual transmission, and VW Jetta GLI manual transmission. About $5000 difference between the two. Not sure which to get. Not sure about resale or mostly maintanance costs.
Hi, how about if we let the dealers do the financing? Coz i know a friend and they bought a car and they let the dealer handle the financing process, they didnt go to bank or credit union,
Hey, thanks for all the info. I notice you say dont go to dealer until you do online negotiations. But i need to test drive before deciding if i even want to negotiate. So it seems i need to visit dealer before on line negotiations for test drive. Do you have a strategy for that? Thanks again...
Awesome thank you for much for this valuable information so appreciated it, Question how can I find cheaper affordable car insurance State Farm is too expansive please help Thank you
10:25 now do this 30 times and get 5-10 people playing, or as many as you wanna spend time vetting, and really get them bidding for your business! Then you KNOW you got the best deal. 2 just isn’t enough to know, cause if they’re both 80% dealers (overpriced), beating the other by $1k could still be thousands higher than a 20% dealer who really needs to make a sale. 🤔
Last weekend, I had a local dealership tell me they could not sell me the new vehicle I’m looking to purchase without a security system because Costco’s car-buying program requires it. Then, the sales manager during negotiations of add-ons told me he would remove the security system (but he didn’t want to remove the price). I have submitted inquiries to Costco to confirm their dealer requirements. It sounds a lot like tied selling to me, and the dealer is blaming Costco for it. I don’t think they’ll appreciate that. Still waiting for responses from Costco.
I'm in Canada and wish you had your website for Canadians. I love your content for consumers. I do have a question which may not be mentioned. I'm looking to buy a new SUV cash. I went to Buick and tried one to drive but the seat was to high and difficulty to get in and out as short legged. Then the following week I tried one type of new Chev SUV as only had a half hour to try it as my new pup was in my vehicle. I wasn't impressed enough on the new model and said I'll be back to try another type. Last Saturday I had a half hour to try another so the Jeep was just before Chev so I drove in to check . I tried the Jeep Grand Cherokee seat and I said " Ok lets go for a drive' . He asked for my license and I showed the salesman. He grabbed it then Without asking He started to take a photo of my license on his personal phone. I grabbed it and said " What are you doing?" He replied " I want it in my data base". I I said "Your a salesperson not a manager and you have no business coping or taking a photo of my license as the same as my SIN number.' I said 'We are done ! I have a license , full insurance, my vehicle is next to your building sitting there with proof of plate registration. You only need my name and address, and phone number from license . I shown you proof of everything plus your driving with me.' He said I'm do my job and I'll go see my manager .. I said "Nope I'm done as your a day by night salesperson which have no business with my license on your personal phone and I don't want any identity theft" . I checked the government site and it stated this was illegal for anyone or business to copy or take pic of my license as to much personal info for identity theft. I had no issue at Buick Dealership nor Chev and they didn't even ask for my license. , I was a salesperson for a few years at GM during the 80s years ago before starting my own business and no way I could do this to a customer trying out a vehicle nor my employees. Does the Dealerships have Salespeople taking pics of everyone's license on their personal phones? Thanks
You say the 10% has to include gas and maintenance...then only factor in insurance in monthly cost? If you have $500 to spend on transportation and insurance is $100, you can't have a car payment of $400 unless that car is free to maintain and operate.
The Part where he tells you what you can afford is VERY important. Here are some facts. In the USA most Financial Planners recommend to not exceed 30% of your annual gross income on the purchase price of a new car. For 2024 thus far, the average American Family income is approx $76,000 which means the Average American Family can afford a vehicle purchase price of $22,800. For 2024 the Average New Car Purchase price is $47,700 OVER 2x's what these families can actually afford!!! So what is happening, to be able to "Afford" the payments families are going 84 to 96 months now on car loans. Another statistic. The Average American Family only keeps their new car Approx 3-4 yrs before getting another car. So what does all this mean? It means the Average American Family is buying more car than they can afford, after 3-4 yrs these families are so upside down on their loans they transfer that negative equity into the new car owing even more and the cycle goes on and on leading to either Bankruptcy or a Repo. This is one reason why we are struggling in this country. That keeping up with the Joneses so to speak is putting you in the poor house. Do yourself a favor, keep your car that you have, and if you absolutely have to buy a car NOW?? Buy what you can afford by following what I just mentioned, or what this Gentleman is stating in his video.
So wait, we need to get the OTD price, including all taxes and fees, before we start discussing payment options. But then we need to plan on adding 10% more to that otd price?
No, the sales price + ~10% is the OTD price. Ray is just giving you an idea of what to expect in terms of the total/OTD price (based on the advertised/sales price). But, don't negotiate the sales price. Negotiate the OTD price.
To get a PPI, do I simply tell the dealer I want to have the car inspected by a mechanic and arrange it? Are they required to agree? Allow 2-3 hours? Thanks
Get the rebate and best deal. If you must finance, just do $5000 to $10,000 of a loan. Then pay it off the payment due date. That’s what I did. Costs about $50 in interest but I saved $3500 with a finance rebate I wouldn’t have gotten
10% rule is nuts. here in Vancouver, Canada, where everything is more expensive than pretty much anywhere in the world, following the 10% rule means u can't even afford a shitbox on a middle class income, unless you have a massive down payment to put up.
@drift6785 Yeah, but I am ok with them people getting loans. The more of them get loans, the better my 401k, CDs, and money market account do. Win win for me. Keep getting them loans so my bank keeps loaning that money to yall... and I get a cut of them loans in the form of dividends and compounded interest. 😁
I’m with you! Destruction of society is the only way… I’ve boycotted buying clothes for the last three years - why wear clothes? DO NOT BUY! Got it - clear directions. I’m ready for lesson 2.
Even tho inventory is up. It's only up because no one can afford cars. All the more affordable one are sold out like the new camry, rav4, and Corolla crosses. It's just a facade. All the terrible and expensive car takes up all that inventory rate.
@ 8:34, you mention free templates for contacting dealers. Can you provide a link to these templates? I can't find it, and even when signed in, if I click on what looks like a search icon, it either takes me a page to sign up for the concierge service or takes me back to the login page. TIA
@@dodgers8one8 1k but you will likely offset that in savings anyway. Hit their site. It's really pretty insane all the info they have on their (such as invoice and market day supply which ultimately means negociability)
To be clear: You'd have to be a doctor to afford the ubiquitous F150's or soccer mom mobiles (same thing really) at 10% of your gross income. If you're an IT professional realistically capable of making $60k, your 10% nets you MAYBE a Toyota Corolla. This country doesn't have many legs left folks.
New cars come with floor mats. If the mats are provided by the manufacturer they are included in the price. The dealer may add them and will try to charge you for them. The astute car buyer knows better than to pay the dealer anything over the negotiated price.
10% Rule. You skipped gas and repairs in your example! 10% = $500/mo. $100 insurance, $180 Gas (1.2k mi/mo, $3/gal, 20mpg), savings for repairs $100. That's $120 left over for car payment. Not practical. I'd argue gas is excluded but even $300 for a payment doesn't seem practical these days.
Hold up... with all of the nations natural disasters in North Carolina, Florida Panhandle, Georgia Floods, and now a Cat 5 hurrican hitting dead on in the Tampa area tomorrow night, there is going to be no shortage for demands for new vehicles from these areas where all their cars, trucks, SUV's have all been destroyed by floods. The seller market will continue because natural disasters have been working in their favor!!
That’s the one gamble we can’t predict. Dealerships are so stupid they are willing to keep prices up with interest rates going down. Just how they try to pull some bs on a white paper and try to trick you with lowering something but catching you off guard on something else.
I pay cash for my vehicles. My rule for what I can spend is not to spend anymore than 50% of what my last year’s gross income was. This applies to anything with an engine installed (boat, automobile, RV, etc.) all combined for that calendar year. I keep my vehicles for a long time and start saving for my next one immediately. I still drive an 03 Silverado I bought new.
@@lisag18 dude, I was a city firefighter. I have never had the latest newest cell phone. I’m just frugal and purposeful. I’m not rich and have owned three boats my entire life. The longest was 21 ft and the most expensive was $17,500. I bought that one last year and it’s a 2017 with a 115 hp on it. Stop competing with the Jones.
@@RespectTheScrubs -There is no guarantee it will be better in one year, however, the auto industry moves slowly but it does move. People not buying their cars or trucks in sufficient quantity will eventually get them to smarten up. It might take longer than a year, but no one knows. What is more important is that buying now is REALLY a stupid thing to do. : )
Its been that way for years. What would you have people do who don't have access to public transportation? Are you going to pick them up? I know you're trying to be funny but it's not a funny situation
