All excellent advice again. :) If I could offer some additional advice of my own, I would first say BE PATIENT! Whether it's excitement or some other emotion, some people really get caught up in the "must have it *now* " aspect of getting a new car, and with inventories low and waiting times long, that will cost you dearly in the current market. Just like this video pointed out, markups on inventory on the lot can be 20 to 40% over the MSRP, which is insane. Even _more_ insane if that's then financed! So be patient - don't start the process of getting a new car with the notion that you need it immediately. If your current vehicle(s) is/are in good shape, keep them that way, and bide your time. Order what you want, and make _sure_ you are getting it for the MSRP or _less_, and wait for it to arrive. I did this in getting a new Crosstrek in 2022 - ordered in early March, took delivery in July (which, amazingly, was a month earlier than they thought it'd be). I was in no rush to get it, and it paid off as I was able to get it for less than MSRP. Speaking of MSRP, that'd be my second piece of advice; if they're not going to sell it to you for that price or less, walk away. While they may have all sorts of colourful and interesting made-up excuses why it has to be more, there is no _real_ reason other than greed. If a dealer is not going to be fair, find another one. Heck, if you're in a big enough city, there are usually 2 or more dealers for the same manufacturer anyway. On a semi-related note, try not to have your heart set on a single choice too; you might want a Toyota RAV4, but have _other_ choices that you're okay with as well. If every Toyota dealer within range is greedy and untrustworthy, then it could end up costing you _a lot_ to get your sole choice. There are often 2 or 3 wise/safe choices in any particular vehicle category - be willing to be flexible. Lastly, with financing, if you _do_ sign any final paperwork to lock in the financing, make sure you keep it flexible. You should not agree to any set "term" on signing - only that you will be financing, with a rough estimate of a range - say 2 to 4 years. If you were patient and the time eventually comes that your new car arrives, you can now chose the actual term more comfortably based on what you might get for selling a current vehicle, as well as current finances. You don't want to lock yourself into a 3 or 4 year finance term if it turns out you can do it comfortably in 2 (which will run you less interest). Or on the other hand, maybe something came up and instead of being about to do it in 3 years like you said on signing, you need 4. Most dealers or lenders will have open term-lengths on the financing that you can change right up to a week before buying the vehicle. If they don't want to give you any choice, that's another danger sign you want to avoid. Remember that, as the buyer, YOU are the one in charge. Nothing can happen without your say-so, and signature. They may try everything they can to make you _think_ you have no choice but to pay a higher price - but you always have final say.
I recommend when ordering a car that you get a signed commitment by the sales manager (not the salesperson) so that when the car arrives at the dealership they will honor the sale's price at sticker MSRP including destination charges and no higher. This is so the dealership cannot add a premium over the MSRP when it arrives and try to force you to accept it. They know you are excited that your choice of car with the exact color and all the personal extras you desire has arrived... by then, many will think that that is their auto and feel forced to accept the deal no matter what the cost... If they won't make the commitment then find a dealer that will... don't allow yourself to be trapped.
Not only should the contract be signed but it should include clearly written conditions that the price will be honored with no add-ons or changes. Even then I've seen some bad dealers who don't care do it anyways.
@@carhelpcorner If you are looking to buy a car cash or get it financed somewhere else other than the dealership, you need to make sure that there is no mandatory dealer financing condition on the sale. I made the mistake of buying a car with the condition that I had to finance it with the dealer for at least 6 months. My dad tried to argue my way out of that condition and the dealer straight up told me that they would not sell me the car unless I financed with them.
I bought a 4 year old toyota Yaris hybrid and it was actually very good, it's 8 years old and never had any issues so far. It was 10k when I bought it from the dealer. I always buy used cars due to new cars being too expensive, but my parents always but new ones
Great review topic ✅ Quality, factual and honest information to assist the car buying consumer. The best advice: don’t buy any car in 2023. It’s not a competitive landscape with supply chain issues and you’ll be ripped off. Also, very useful data is the “best value for the money” configuration for a model. For example the RAV4 Is the Hybrid LE. ✅
Car broker. Serious question, is getting a car broker worth it? That’s how my friend bought his car. Didn’t even have to step foot into a car dealership
Hey, new subscriber here! I love your channel because I live in Ontario and you cover Canadian and Ontario content! I have a request for you: can you make a video to summarize the current state of the used and new car market in Ontario and/or Canada? I'm finding a lot of information covering the American market but it's not really applicable to us Canucks up here, and I'm having difficulty finding information specific to the Canadian/Ontario market. Thanks for your content :)
I live in Ottawa, Ontario and have looked at the Rav4 Hybrid. I’ve been told that I will take 18-24 months to receive one. Some dealers ask for a deposit ranging from $0 - $500 when you place an order. The good news is that it is fully refundable if you change your mind. Apparently 90% of the vehicles are accepted when they arrive. The dealerships aren’t bothered by the 10% which are turned down when the vehicle is delivered. They all have a long list of clients who are ready to accept those vehicles even if they aren’t exactly the colour, features, etc. which they originally wanted. If I want the Rav4 Prime (plug in hybrid) it would be a 48-60 month wait. Negotiations seem impossible because they have so many clients waiting for a vehicle.
Negotiating on this model is next to impossible right now. All you can do to save money is shop dealer quotes until you find a dealer that doesn't charge junk fees or add-ons
I am in Hamilton Ontario and find the same thing...deposits if needed are 1,000.00 and can be canceled...and have been going to different dealerships out of town and they are different...different fees and add on's...from cost to fees charge...been told nothing can be done about the fees and no negotiating at Toyota and Honda dealerships...wtf...bull...added fees and add on's are just lies that they can do nothing about them...found a Toyota dealership that has no hidden fees or adds on's what so ever and does not charge a deposit...it does pay to go to different dealerships for sure...
New subscriber here from Calgary, AB. Your video is Very informative. Maybe you could help me which WRX model should I get? I’m thinking to get the WRX but need some ideas and please educate me.Thank you
I am in Ontario, and have been looking for a new car for some time now...I am now finding out the differences between dealerships as do to fees...been told from some Toyota dealers that the admin fees have to stay and cannot be removed (Hamilton)...then going out of town and find that this is not so and not all charge this fee or do they all want a deposit for an order...I did cancel a Camry order a day after signing the papers and they gave me my deposit back...next time I will not sign a purchase contract just a order form...(yes or no)...and some fees that some charge are well lets say for things that you have not mentioned in wanting they seem just to put them on the purchase price for you...wtf...my understanding from this video is that the delivery and freight plus some government fees plus license fees are the only fees that should be considered...unwanted add on's are just that unwanted...finding that dealing or negotiating with a Toyota dealer is at best a hard thing to do...wait times are crazy for some vehicles...been told for a Hybrid Highlander up to 1-3 years...crazy...for a 2024 Highlander LE model up to 10 months because it is a special order...not a big seller the XLE is a better wait time but cost more and has items I do not want...very confusing...been looking for some time now 4-5 months...sticker shock is a big reason...will these lots that have no stock ever get it or is keeping the stock low and order times high making them more money or is it legit that they cannot get stock it has been some time since the pandemic things for many manufactures has gotten better is Toyota and Honda just leading their customers on because high demand and they can get the most for their vehicles...love to hear more on this subject...because every day seems to get more confusing...nothing really seems to be standard among dealerships...thank you
I'm living in Quebec now and retired and have never purchased a new car in my life however I would like to do this one time. I do all my own maintenance and my used Honda Civics, which I have been driving for over 20 years now, last me a very long time. I have done a lot of research, some with your excellent and informative videos, for which I thank you. Living a very snowy area of southern Quebec I would like to purchase a small SUV specifically the Toyota Corolla Cross AWD. I know this is a new model and in demand but I do not need this vehicle any time soon. My current Civic has only 165,000 km and I could easily drive it for another 5 years, I'm only putting 10,000 km/year now compared to 40,000 + when I was working. Whenever I purchase it will be cash and so I'm just wondering how long to wait and how to get the best price. I'll certainly keep watching your videos but any advice you can offer would be greatly appreciated. Cheers and thank you
I think it is best to buy a used car from the original owner or new owner. They may have a good reason for the sale. They need to have the title in their name. Getting the title from a dealer can take a lot of time.
If any of the viewers purchased a new or lightly used hybrid at $10k over MSRP I would like to understand your rational. It make no sense to me financially but you may have other reasons and I would really like to read them. Thank you.
With both our Outback and our Forester, I shopped around for 6 months for the Outback and almost 9 months for the Forester that were lease returns with Low mileage and a great price with the equipment and color combinations we wanted. Our old vehicles ran great but were going to be replaced.
@@carhelpcorner We saved $5K on each car bc I was in no hurry to buy. Both our Outback and Forester are 2019 year models. My wife’s Outback had only 5,700 miles on it when I bought it for her in 21. (It was my gift to her for her 50th birthday). Hers is Cinnamon Brown with Ivory interior. My Forester had only 4,600 miles. It’s Bronze with saddle brown interior. The Outback has 22K miles on it now and my Forester has only 5,900 miles.
Buying a new car is always a bad financial decision. Used from the original owner with clear title in hand and full service record after a good inspection by your own mechanic is the way to go.
Not anymore. I bought a new car in 2022 and the only reason I bought new was because used cars, even those with 30,000+ miles on them, were nearly the same price as a new car or only a couple grand cheaper. At that point I’d rather buy a new car that has never been used so I know it is in good mechanical condition.
@@Noxlion28 I understand and the current price dislocations are very atypical. Hopefully the prices will normalize soon. The problem of initial rapid depreciation remains but is better for some models than others. That's usually the biggest penalty for buying new.
