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Blessed to have you in my life brother . These dealerships be raping. Will reach out to you when I go to mercedes . Currently on a 3 yr lease with subaru. Lease ends in December. Appreciate the helpful tips . Stay blessed stay healthy .
Shop online. Test drive at the dealership. Go home and negotiate by texting. Agree to a price. Go to the dealership and sign the paperwork. Don't spend hours negotiating at the dealership like a clown.
Good strategies but going back and forth with an overpriced dealer will end in a loss even if you get a discount. The key is knowing how to find the dealers with the best prices.
@@DeshoneTheAutoAdvisor what I've done is pit dealer vs dealer. "Hey, thanks for the price quote. Xxx dealer gave me this price (made up number) for the same car but different color. Can you price match him?" I email all the area dealers until I get the price I want.
@@andyleo8418 wow they take your word for it 😂.. their business is the same as the other dealers and they’re willing to take your word that another dealer is gonna sell you a vehicle at a loss so they can then do the same?
@@dirtyaznstyle4156 I'm sure it's not at a loss. Just less profit for them. It depends on the vehicle and how much they are willing to sell it. I get rejected a lot but there's always one or two that are willing to work with me. The thing I like is not having to spend hours at the dealer. I negotiate whenever I feel like it. Sometimes I wait a day to text or email them back. If you are desperate for a car then this method might not work for you. This is a slow play sometimes.
@@hawksrock3024nobody is negotiating at all be real! The only way to do this is go to the dealership the very last day of the years it’s THE ONLY way you will win at a dealership they HAVE TO and are VERY DESPERATE on that last day to meet quotas
@@marcelcovaci9922 and ideally you buy a car that's at least a few years older where that first massive amount of depreciation is over and you get a great car for much less then the perfectly new car (that will probably get a chip or something on it soon anyways) and it will maintain way closer value then you paid. Or get an even older car with a known reputation in a low mileage that seems like it might be the next to go up in price worse case you got a reliable car best case it makes some money when you wanna move on to something else
Anyone who didn't know this shouldn't be car shopping alone. I was told never to talk down payment or monthly payments until you settle on the price of the car.
ive got perfect credit so last car we bought I walked in, told them MY terms and told them either get it done or I'll go elsewhere. Got exactly what I wanted. Fair total price Zero down and less than $200 a month with no penalty for early payoff.
Get a pre approval from your bank or credit union and go to a car dealership with your money… get what you want. You pay for bank! No money down ever! My payments have never been over $300 & my newest is a 2021… I’m ever financing with a dealership! My credit union has MY best interest!
Yup people will shout from the hills “I didn’t have to put a down payment down” but don’t know the numbers or discount they got off market value/original price
Might as well just buy the car in full 😂 your logic is dum af , anyone putting 10-20k down & to still have to pay a $600+ car note the next month is a waste of money , your better off using your 20k to make ur monthly payments each month & keep your cash flow comming in ……….
@@DeshoneTheAutoAdvisor what if you buy a new car for 28K , Msrp is 25K car, you drive off the lot, it is now a used car worth 20K meaning you are " Up-Side down" on your loan owing 28K on a car now worth 20K. does that not hit your credit scores?
@@c1h2r3i4s56987 why would it? Your total debt doesn’t take into account the value of what the debt is for. Everything depreciates, they don’t care that your $1000 tv is never gonna bring $1000 at auction when calculating credit ratings. This is also secured debt if they don’t get their $28K they get the vehicle back. If it’s unsecured I pity the fool that co-signed your loan 😂
@@vincentthompson3662 Because they can make payment anything you want it to be and make you believe you got a deal. They'll sign you up for an 84 month loan to make your payments look good. It's all about the final price of the car, I don't give AF what the monthly payments are.
@@vincentthompson3662 because the sales person will dictate the monthly payment if they know your limits first. you can get a better deal if you negotiate the price of the vehicle first. Do the leg work before you walk into the stealership! Know your credit score, know what you can afford every month, and set a cap for yourself, you can do mock payments online to see what you can afford. If they ask you how are you are going to pay for the car you say “I’m undecided, depends on the price I may finance or I might have 30k$ in my trunk, now let’s talk”!!! Also, for every 1k$ you put down it’s 20$ off the monthly payment.
@@vincentthompson3662because you don’t want to solely focus on payment. What if I uncharged and just gave you the payment you wanted and then you pay 10k interest
Wait till you find things wrong with the used car. "Oh I did this", "Oh, my best friend was anal about maintenance", but then come to find out, they don't know what to look for.
You add $1000 to a down payment and it takes off like five bucks lol. Bought my car with no down payment so I could use that down payment money to pay off a few months of the loan instead
this is what happen to me on a 2016 Altima paid 7k down ended up paying final payment was 20k on a 14,995 the car is now worth 10k now on Kelly blue book, listen to this man before you get rob blind. I Wish I had seen this video sooner. thanks, you for sharing THIS INFO SO PEOPLE DONT GET ROB BLIND like me
Check your paperwork. If you have a warranty or service contract they are what's called cancellable contracts. You can getva refund for remaining coverage. That could be a few thousand of your total gross if you didn't have negative equity. The interest is simple interest so had to be one of the two
Nissans are a bad brand, if you don't know by now. They don't hold their value worth a damn. Shop Subaru, Honda or Toyota. Nissan and Mitsubishi are the red-headed stepchildren of Japanese automobile engineering.
I have two cars that I fully own. 2008 Lexus IS250 and a 2015 Toyota Corolla. Absolutely no cay payment and I love it! So liberating to not have this massive car payment per month.
@@jazmynbrown6820 the corolla is from an actual Toyota dealership. Paid in full when I got a 50k bonus and as for the Lexus it was my aunts who got in from a Lexus dealership. Don’t trust third party sellers I say. There could be issues with the car then you’re in a deep pit of bad luck.
@@aniaoliviale4182 It's usually because the person's credit isn't in the greatest standing. Either way, if you don't have OR want to put $$ down... WALK AWAY! 🚶🏽♂️
Take a car for 15,000 for 500 a month if I can pay 5,000 down (no interest) now making it 10,000 for 250 a month now I can pay the other 250 towards principal only (no interest) The lower monthly payment you have the more you can pay principal only throughout the year I paid my 16000 year truck loan in a year
Giving an option between paying the full price with the inherent interest or paying a down payment to lower your interest payments is a scam? Talk to your bank, not the dealership. They are the scammers.
If your not planning on paying a 7 year note and will trade it in in a year or so than it don’t matter too an extent. The thing is if you can’t afford something people usually buy junk or think not having payments is the way too go but once u pay off that car for 7 years you gotta get another car all over again cause u have a shit ton of miles. Having a new car and payments you can comfortably make could be worth it. You have peace of mind having warranty and a newer car. Yeah you gotta pay for it but don’t we pay for everything we need in life anyways. And if you can’t pay the payments Turo your car and let the renting pay your payments
I took my friend to get a car and he didn’t like the deal he was getting so I was looking at other dealerships close by and I mentioned to him that there’s another dealerships down the freeway and I guess the sales manager heard that and gave my friend a better deal
True, deals involve the overall price of the car. Anything that involves how frequent you pay something ISNT a big win. The big win is if you can print the overall price of the car down at least 1500 dollars
I want to finance a lower principal. Interest is accrued daily. That’s why I make a down payment. Then I refinance with a principal payment within the same week. Who the hell doesn’t know this?
Interest isn't accrued daily on a car it's calculated when they send you the payment info every month and it's not accruing interest it's just how much you owe is determined by what principal you still owe it's not a compounding interest.
Down payment will help you get approved. A higher down payment, less risk to the bank. Bc you’re financing less. You get a 25k car and out 5k down, youre only financing 20k. And bc it’s lower risk, lower interest rate and more likely to be approved .
Yes and no, see it depends on how much you putting down and what car. Cars lose value quick and you want as much equity in the car as possible just in case you need to sell. The name of the game is EQUITY AND ASSETS… I would put down even more if I could to be honest.
I didn’t put any money down on my last car note my note was only $250 month car depreciated fast I still have 2 yrs on the loan I am Selling the car this weekend and now I owe about $1500 more on the note than the car is worth.
"10 year mercedes/gm sales pro" made all the money using the word tracks he used on other people he's now telling you to look out for. Facts are if you want said car and payment is to high. You need money down to get payment lower. If you don't have perfect credit sometimes it can mean a lower rate or maybe there's special apr going on with specific down payment. The fact is regardless you are indeed getting a better deal. Money down means less interest paid overall. The dealership prefers you to put 0 down if you can so they get paid more for the deal.
I worked at a dealership in Arizona and I would focus primarily on what you were looking to pay a month for example your car would be 20k and we would put a 3k pack on it plus tax title and license you’re driving off at like 27-28k that’s not including warranty or gap insurance 🤷🏽♂️
Remember, there is a thing called positive and negative equity. Before I bought my new car, I made sure my current car was in the positive. I used my car as a downpayment. I only owed $5500.00, and the car was worth $10,500.00, I even negotiated my APR. I paid my original car off early, so that allowed me to get back my warranty. A lot of people forget your warranty is worked into your monthly payment, so you are entitled to a refund if you payoff or turn your car in early. The refund amount for the warranty was $3000.00. The total amount put down on the new car was $8500.00. No money left my pockets. The old car was paid in full...all positive equity went into my new car. People dont realize that sometimes your new monthly payment will be higher if you have a negative balance left on the old car. That balance does not disappear. It rolls into the new car, which causes your new monthly payment to be sky high. Positive equity vs. negative equity.
This cat has the best info....got a daughter and 3 grandkids and iv have been telling my daught this ever since she got married the 1st time and her busband was a complete idiot and terrible with money. Since she got rid of him she has learned so much and i am already teaching my grankids the same info your giving out on here...need more folks like you brother spittin all think knowledge you think would be commen since but then again its knowledge and life skills like this they should be dishing out in schools so kid's learn everyday life skills they can use and not learn and forget or never use
a car payment is based off like this if the car is 25,000 and u put down 5,000 it takes that 20k and add's the taxes and fee's from there every 1,000 u have its $20 bucks less to your payment per month so if u pay 475 a month u would need to put down a extra 3,000 bucks then some to get u to 400.it is also based on your credit score too.case and point don't buy a car u cant afford its stupid.
I was looking for this comment. Just went through this today with my son. Car 16k+, down pmt $3k, dealership added tags, tax, & title brought it up to 17k+. I asked them to add Gap & 3 year warranty, now it’s $19k final price. I told my son we’ll pay $200 extra monthly toward principal to pay off early. Before I went, I had a pre-approval already, so I really only negotiated the overall cost. After getting the price where I was comfortable, I discussed the payment years which I noticed the shorter the loan, the better the APR. I chose the APR in the middle to get comfortable payments for my son after combining with car insurance.
It’s not necessarily wrong, but a big portion of that is if you’re financing, if there is more down payment that you could present to the finance company, then most likely they’ll sell you the contract at a lower rate, which means that you only have a maximum percentage you could sell it at now as a dealer.
100% correct. I made a similar video talking about how you don’t need a down payment except in very specific situations. But it never has anything to do with the deal or the price.
You should always walk. When you buy a car, test drive, then get their out the door price in writing. Then shop that price around with all of the internet sales people in your area. Never buy a car the first day, unless the out the door price is so unbelievably low that no one else could realistically beat it. Don't negotiate at the dealership. Do that sitting at home. Only thing to do at the dealership is test drive and sign the paperwork. Be sure the stand firm with the F&I person, they'll try to sell you a lot of stuff when you're signing your papers.
I used to worked for Toyota Penske and what I know is that a down payment is to protect yourself if anything happens to you once you leave the dealer you get hit or whatever the money you gaved as down payment is to recover the lost of the car
I have never ever played any games like this buying a car. Any salesman that says 600 a month and not the price of the car gets the BOOT. Straight up. SMH.
Probably whats happening too is the sales guy starts off with $600/mo, not saying its a 6-year note. Then the sucker says yeah i got $5K and he then says we can get you down to $480.... On a 7-year note. He never told you the term so you think you got a good deal.
Thank you. Been looking at getting my wife a newish ford explorer. It's been 12 years since I bought her a car. WOW!!! The costs of the cars on top of the monthly payment today is a total shock. Amazed they even sell one car at the lot.
Because salesmen are only there to sell the product. We don’t have anything to do with the money involved in the deal. We pick a vehicle that pits your needs and then we show you payments that would be most convenient, if we don’t agree on a number or a vehicle I have to go to my manager and get things switched, discounted or numbers moved to make it more convenient to you. Salesmen decide nothing that’s what the managers are for
Advice: ask who you bank with for a loan before going to a dealership then they aren't selling you anything when you already know what you want. Worked for me
I put a down payment on a car yesterday after I got them to go under invoice and drop all bogus fees. Got the car down to $26,125 remaining after I put the $2500 down. My interest is 4.49% but payments are $415. Why is that? Why are they not cheaper and based on the remaining $26,125. It’s like they are still charging me interest on my down payment.
I bought a Mercedes-Benz, put down $18,000 plus traded in my Accord, and got $11,000. I negotiated the price down before I even told them that I was putting all that money down. Personally, I wanted a low monthly payment because I wanted to buy a second house, and I didn't want a mortgage lender to see that I have a big monthly obligation for a car. I also went in with a pre-approval and a check from my credit union with 2% interest, something that they couldn't offer.
Thats why you want to know total cost and not let them know how much you can afford on a monthly basis. They will back you into the payment you can afford without realizing how much you end up paying total. Figure out the total cost out the door and negotiate on those things you can negotiate. In this market it's harder than it used to be but the concept still applies.
Tru.... was shoppin for a car back in 2015. ..car a i was lookin at they wanted 17,500 for a car with 57k no sunroof. Grey/silver lookin color. Carguru had the same car. Candy like color. With a sunroof 37K miles for 13,500. Yeah, i drove 180 miles for that deal. Next day i drove to that dealership near me. Told all of them, stop ripping ppl off.
