Thank YOU for watching today's episode. Zach wanted me to let you know why we have stopped taking on new clients... It's because we have become overwhelmed and haven't been able to effectively service individuals who have already engaged with us. We feel incredibly fortunate to have the opportunity to help so many people (over 100 in May!) go through the car buying process with us. Hopefully in a few short weeks we'll be in a better position where we can begin to take on new clients again. In the meantime, thank you for your support! If you want to work with us in the future, please click here to join our waitlist: yourautoadvocate.com/waitlist
Thanks for the solid advise. Being in the NY nj area would be nice to pick your brains about a car. However I'm well aware most viewers will also want the same!
I guess im asking randomly but does any of you know a method to log back into an instagram account? I was dumb lost the password. I would appreciate any tips you can offer me
I wrote this before I hit play. Used cars are a tough buy. If you're buying an ex-rental or lease return, you're buying something that has a reason to be on sale. If it's a newer car on the lot...why is it there? Did the family outgrow it, or does it have an issue. If you find a VW, or Chevy on a Toyota lot, what made them buy a different brand and trade it in? Second, you're right, every used car, no matter how similar is different. You can never know what you're buying. I sold cars for 12 years, and I can say that there were used cars I didn't want to sell. There were cars that had a history, or a possible mechanical problem, but I did what the dealership asked and hey...I am not a mechanic. The other problem was that people come in to dealerships with their 'opinion', and as the saying goes... I've sold used cars back twenty years ago that are still on the road, and five year old F150's that ended up with cam-phaser issues, NOT MY FAULT...I don't have a crystal ball. People used to come in when I was new at sales, they wanted a Honda, Toyota, or VW because they were the best! Low mileage, good condition, safe, and cheap...$5k Canadian or, the same as what they paid for their first car ten to twenty years prior. The problem was that this car was for their kid. They wanted a good deal for them, low interest rate, and weren't concerned with helping to build their child's credit. Expectations always need to be adjusted, and if you're thinking that the car you bought in 1986, can be bought for the same price today, you are out to lunch. I never sold a USED VW that was any good, they were always traded in as great cars, but these cars always ended up at auction and why was the customer buying a Honda if their Jetta was sooo good. The few BMW's, Audi's, and VW's we sold as used, had far too many problems on the horizon, it's why the owners got rid of them...we couldn't sell them in good faith because the blowback hurt us too much.
I sold over 1 billion dollars of IT systems, services and consulting over 40 years. I primarily used the "Best price/First Time" strategy. It worked for me because customers eventually learned you were sincere with your pricing and unwilling to play games with them
I’m lucky to have a friend who is a used car dealer and has access to the “real” black book and auction prices like Mannheim. On the last 2 cars I bought he sent me recent auction sale prices and it made me more comfortable on the price the dealer was asking especially the one price dealer who wouldn’t budge on the price. But I did get them to waive the ridiculous $700 dealer fee.
@@paulstamme3813 I picked a good time to buy. Did a deal 2 weeks ago with a dealer that had 50 cars on the lot, yesterday they had 14 because they cant find cars at a price they can quick turn them.
I’ve been watching a Porsche Cayenne diesel, it was originally listed @ $38k, now 5-6 weeks later, $32,299! I have lots of patience, one who waits, gets a better deal! They made more than one! Don’t get your heart set on anything.
I gave up dealing with dealers and bough from a private seller . Dealers made the process so hard and so much bull crap trying to get every extra dollar from me they ended up getting none of my dollars . Next time I’ll use a car broker like you guys or only buy from a private seller . It’s not worth the hassle and stress of “the sales process”
Shopping dealers vs dealers. Difficult at first because they don't want to negotiate on line or over the phone, but after a couple days, they keep seeing your name, in my case, they understand I'm going to buy, so 3 out of 5 start dropping the price, the other 2 don't care. Lower price , additional installed options and free oil changes all add up and more. Which is a 180 degree change from day 1 of come in for an appointment and a price. It saves a huge amount of my time.
Yay! Someone who can pronounce Schuylkill! I grew up in Schuylkill Haven, PA. Awesome! 👍 Great vid. Still shopping for an Alfa 4c and prices are jumping up a few grand. Patiently waiting.
2024: All this information is very helpful even if this video is 3 years old. I have binged watched your channel since last night (I have a 15 and a half y-o son with a permit) so all of your videos even the ones 4 years ago are super helpful
Love that you finally pointed out the Art Museum! I've been enjoying you guys' video during the lockdown here in Bella Vista/Italian Market and especially while in the market for a used car. I did fall prey the other day to a dealer marking up their "low price" with an insane doc fee and processing fee that jacked it up by $2k. Obviously, didn't go through with it, but I hoped against hope that it having sat in the lot for over two months would've given more leverage, but no dice. Onto the next one!
I love you guys sense of humor. this video was very helpful for me. I am that person almost over whelmed with finding a Used SUV in the DMV area. I was honestly trying to purchase from Delaware to cut down cost. We will see what happens in the next month.
Just happened across this video and your channel today and as soon as I saw that picture behind you, I knew what it was. I was born and raised in Philly and live just outside the city limits today. Great video! Looking forward to watching more.
There is a difference in the difficulty of finding a good deal for people based on whether they are trying to find a fair deal, pay a certain price, or make sure the dealer makes no money.
1... 2... 3! Love it when the fam works together! Episode 12 is now live on Patreon with 7 extra minutes of family antics 🤣 www.patreon.com/posts/43426332
Great video, I watched all of your videos and this one is very very informative. As the used car prices are going insane in my part of California, I will wait things out. Keep up the good work.
Thanks for these videos. I have never bought a car smart, always been upside down after a purchase. I just sold my car (privately) and made some money which I will use for a down payment. I have borrowed a car from a friend so I can do my research and get the right car at the right price. I have been watching your videos and really appreciate your integrity and transparency. Thank you! I feel way more prepared this time around.
If you got upside down after a purchase, that's unlikely because you got ripped off by a dealer, maybe 2-3k. If you got decent APR, then the most important thing is the vehicle choice... Which model, year, mileage... You will save money knowing how to negotiate, but in long term, the right choice of car makes sure it's a smart buy. Like those folks who shop at Carmax, which is typically ripping off customers, but those who know how to pick the right car for themselves will do fine in the span of 3-6 years.
Thanks for sharing this is great info. Sounds like online pricing is similar to the travel industry online. The hotels specifically play the lowest price have and tack on "resort fees" and alike.
I remember working in west Norriton PA and all the litte towns from Philly to West Norriton had hard names. Thank goodness for the train calling each name before the stop😃
I am shopping for a new Honda Pilot, email at least six local dealers, four responded, one said no discount at all due to high demand, three of them offered close to $6000 off stricker.
I was hoping for the same thing. They tell us it's tricky and difficult to negotiate the price of a used car, but give us few if any real tools to use in buying a used car.
@@rameylewis7730 They just want you to think it's difficult, so you pay them for their service to negotiate on your behalf. They're on here to make money, not to genuinely help anyone.
Wanted to thank you for your helpful information thru this video and others I’ve been watching. It’s been close to a month now and I’ve looked at quite a few dealerships. I’ve always asked for the cash out the door price since I’m paying cash for a used vehicle. Knowing what to ask and where to look is what I needed help with. It wasn’t until recent when I learned about invoice pricing on new vehicles. Hopefully by the end of this month tops middle of next month I make a deal. The used vehicles that I’ve looked at the dealer gives me a price then offers me some $5000 dollar warranty that he suggests for the car. Makes me feel like I’m getting screwed.
You say they only drop a couple of $100, I have seen dealers drop a up to $1500. 3 days later Edit: one dropped $3000. They are tired of them on their lot. I believe it if they are not the brand they normally sell, they are even more likely to drop them in price to get them off the lot.
I like you guys! I just subscribed! My Grandad was a used car salesman for a really long time. He always tried to do right by his customers. You guys remind me of him. Thanks for putting this stuff out there. 😊👍👍
The father looks a lot like Tampa Bay Buccaneer's Head Coach Bruce Arians. - He could put on a Buccaneers jacket and hat and walk into any dealership in Tampa, and he would not only draw a crowd, he could probably make any car deal he wanted.
@@CarEdge - Zach,...that's too funny, and ironic. I wasn't sure if my comment was appropriate, I didn't want to offend anyone, but that's too funny that you guys are from Arizona, where Arians coached the Cardinals. I love the car buying advice too,....thank you guys!
A lot of these dealers are asking 5 to 7 grand above the trade-in value of the vehicle. That's a hell of a lot more than a couple of hundred dollars of wiggle room.
Trade in and retail are two totally different things my dude and you get those prices from the fair market value. Every single business has this and marks product up to make money.
I have friends in the car business and find out what a certain used car I am looking for brings at an auction. Next when I am looking at the cars at the dealership I try to find out how many days it sat on the lot, if let’s say 90 days on the lot I start out with auction prices and figure what the dealer might need to make. I usually pay auction prices for my used cars.
Born in West Philadelphia and grew up in Springfield, Delaware County before I moved to the Atlantic City area, so yeah, I'm a proud Philly boy. Stay safe, Ray
Really enjoy your vids and appreciate the insight guys. Bala Cynwyd lies in the Welsh Tract of Pennsylvania and was settled in the 1680s by Welsh Quakers, who named it after the town of Bala and the village of Cynwyd in Wales.
Please do a video about what to watch out for on a Carfax report and how to spot a concern if a Carfax shows that the vehicle was sold at auction. Also, is there a concern if the Carfax shows that the vehicle was originally sold in Canada but is now being offered for sale by a US-based auto sellers (not dealers). I live in Chicago area and find that there are some Wisconsin-based sellers that sell pre-owned vehicles that were originally registered in Canada.
great video as usual. I look forward to you guys every morning when I turn the computer on. Can you give me your thoughts on why a manufacture would be setting a residual value for a car at 46% for 36 months for 7500 miles when I see the same car generally for sale at about 80% of original MSRP after 36 months and trade in values are still around 66-70%original MSRP. They are saying 7500 miles per year. Also the money factor is .002 for Tier one, which seems terrible compared to what I could get to finance. Do you guys see some disconnect, what might be going on? Should I just purchase and not even consider lease? It seems that manufacture has no interest in leasing, when payment would be higher than purchase payment. Read more
Though dated definitely some nuggets re negative equity, 0% loans, VRPO(?) Internet deals and add ons. Such a different market now! Can you do a new vs used fall 23?
Can you pls do a video on buying a used auto out of state and shipping it to you....thanks guys! And thank you for your great knowledge and your time!!!
I saw the picture on your wall and I know that place because I'm a Philly guy hello my friend also thanks for all your information with your son wow!!!!!!
I was interested in a car in my small home town. I did my home work, and found the same kind of car for1500 bucks cheaper, but it was in a large town about 80 miles away. i showed a copy of the stats to the sales man, and he said well, i cant sell this car for that price! i said oky,' its your call!''good by!" and he said, but i can com close to it! being in a small town dealing with a small car lot, i dident have to put up with all the junk fees.I bought the car for a grand less. Anetas husband.
It sounds like you made a wise decision by supporting your home town dealer since he came close to the price. Congratulations and Happy Holidays to you and Aneta, Ray
I had a great deal 2018 rav 4 AWD 29,990 miles out the door $20320 suv ready to finalized salesman agreed to drive suv to my mechanic. The next morning all I heard was crickets.I called him he said "sorry my sales manager said no for me to bring suv to your mechanic"? Because of new covid rules vehicles in NJ can't be taken out for inspections as per policy. He said bring your mechanic to inspect & finalized the deal!! I walked away this sound too fishy.
Can you do a video on what types of fees dealerships adds on the contract , what to look out for and avoid them at the spot ? I feel like most people get cheated on In the finance conclusions
I have seen a "processing fee" on the sale of a vehicle. Here in Virginia, it will be around $299, give or take. I have no idea what this fee covers. Wondering if this is a money making fee.
Enjoy your videos. What I’m finding from them is that I already knew most of what you say because of my age and experience as a consumer, and having a good friend who is a salesman at my local Chevy dealer. For funny spelling and pronunciation, there is a town near Bethlehem PA spelled Schoenersville. Most folk would think it’s pronounced show-ners-ville, but locally it’s pronounced Shay-ners-ville. Also, the PA town of New Tripoli is pronounced new-trip-O-lee, withe the emphasis on the long O in the middle. Go figure!
Doc fees in nj are super high, last dealer I went, $695 doc fee, $695 low Jack BS fee, and if you dont want low Jack, $300 fee to take it off, plus they push 4 more points on my pre approved bank interest rate loan wish was $40 more monthly, times 60 months, yes, $2400 more on top of what bank was making. Really
If a car dealer invest more in a use car then someone is willing to pay him for it he will very soon learn not to do that or he won't be a car dealer very long in any case( I the buyer won't pay for his poor judgment) He can keep it, sale it at action or sell ti to me at a lost or I can get into my 17 year old car that run fine and keep shopping.
Love your videos, thank you! So I’m interested in a used hybrid vehicle. Since they started out here in Cali and Nevada isn’t big on them, it sounds like I might want to buy in Nevada. What considerations do I have to think about as a Cali resident buying used car in Nevada?
Really interest vid. There just some realities we consumers need to digest before trying to low-ball a dealer. My question - does this content apply for aspirational cars as well? Porsche is not getting a bunch of cars from Dollar, or Hertz. Of the 35 million unemployed, most were making under 50k/yr and not in the high-end market anyway. Is negotiating a 4 year old Camry the same as a 911?
Ok. So talking about used cars how do you work a deal with Carmax that won't budge on there pricing because they say it's already the lowest price . Even when KBB shows that the price of the car that Carmax is selling is $3,000-$5,000 lower.
That was Great!!🙋♀️ I'll be your friend Ray and Zack 😍🙋♀️🏃♂️🏃♀️🏃♂️🏃♀️🙋♀️. I'm learning alot watching your videos😊. Thank you and May God continue to Bless you. 😇🙏😇🤗🙋♀️🏃♀️🏃♂️🏃♀️🏃♀️🙋♀️😍😇🙏🙋♀️.
I live in NJ and just saw doc fees for a 2006 Chevy suburban with a $600 doc fee. I’m not paying that. It’s too much. Just remember the golden rule. He who has the gold, makes the rules. Just cause you like the vehicle doesn’t mean you need to buy it. You can buy any car with cash. You can’t pay your bills with a vehicle.
Thanks for presenting these videos on used car negotiating tips. Very helpful.l Two questions: If I want to get a PPI on a premium used car, should I make an offer contingent on the outcome of the PPI (and maybe on dealer cooperation in getting the car to and from the PPI)?; When dealers send cars to auction, do they realistically expect to get more than trade in value for that car at the auction? Thanks.
So it's better to buy a 2013 used lexus rx350 now or should I wait in 2 month? Some other RU-vidrs say best time to buy user car is now? So which is best answer???
Just a quick question. Market value - Does it make since for a well known dealer to have a used vehicle at market value of say $33,000 compared to others of $38,000 but in turn make their asking price the same as one's with higher market value. I guess what I am really asking is can you make an offer to dealer a little over marketing price. Thanks
Hi! I love your videos, and have a question for you that I hope you can address. 2.5 years ago, I purchased a used car, and had a quote from Bank of America for 3.9%. The dealer told me he would match it. Met with the finance guy, and he had our rate for 4.9%. I told him I'd go with Bank of America, and the finance guy said he'd lower it to 3.9%. I watched him input it in the computer and I'd swear that the paperwork we signed said it as well. My husband totaled the car, and I went to look for my old contract to see the fees they charged. It lists the APR as 4.7%. How did this happen? Does it happen often?
@@GoogleAccount00 No, I never got my answer. my stupid mistake - since I saw him change it on the computer I never checked the paperwork we signed. I didn't realize it until 6 months later and figured it was too late.
KBB is just one of many guides to help for the market but those sites are the holy grail, to accurately bid a car has so many components and KBB and those places aren’t looking at the actual car and can’t see all the dings and scuffs and wear and tear the customer didn’t feel like applying to the car. Use your brain and you’ll be fine.
I keep seeing used car ads with a listed price but then some small print about $499 or whatever in dealer fees. What is reasonable for fees? How likely is it to be able to negotiate these costs? Thanks!!
3 states out of the 50 charge $75, FL charges up to $799.. don’t pay more than around $75.. tell them to take the remaining amount off the vehicle price or you walk
I have a bad credit rating because Ive never had credit?? Always use cash or debit card. I’m looking at 2016ish toyota sedans. I’m hoping a large down payment and proof of thousands more in the bank will persuade dealers to take a chance?
Hey guys!!! I love your videos. So helpful. I’m buying a used car...does it matter if I buy from an established auto dealership or some mom and pops lot with 50 cars on their lot?
What about negotiating on enthusiast cars? Manual transition cars specifically. Rental cars supply does not effect these. I’m looking at corvettes and Porsche Cayman’s. Also I’m in Northern California. Seems like these cars I’m looking at near me are asking several thousand more than KBB. Do dealerships take advantage of enthusiast buyers because of their passion for a particular model?
Mike, it is all about supply and demand. Manual transmission cars are limited to begin with and there still seems to be a reasonable demand so yes, that will impact the pricing of those types of vehicles. Good luck, Ray
You are correct....Roll Tide Roll. I am from Tuscaloosa, Alabama. I thought buying a new car wasn't fun. It pales in comparison to this journey. Your videos are educational AND fun, so thank you. Robin
Sorry guys, but I have to disagree. Dealerships WILL come down more than a few hundred off their online pricing. I purchased a 2016 Mercedes C-300 last year (June 2019), with 27k miles, listed at $27,995... a certified preowned vehicle, from a Mercedes dealership, for $24,500. Initially, I was interested in another, nearly identical vehicle,, with more miles (43k) but it was lacking one of the options I wanted (LED lighting package). After getting the dealer down to $24,500 for THAT vehicle, I waited until the end of the month and then sent an email to my salesperson, telling him I would close the deal that day, if he would sell me the lower mileage vehicle for the same price I'd negotiated... and guess what? They did. I don't have 43 years experience and was able to pull it off.
Gentlemen, I live in Richmond, Va. I am looking for a used car locally in or around Richmond. Many of what I term non-big name dealerships (i.e. Jim's Fly By Night Car Sales) charge a "processing fee", typically running around $299. 2 questions: 1. Is this a money making fee? 2. Can this fee be negotiated down or even eliminated?
50-60K for a new truck that AFTER ONE MINUTE: loses somewhere between 9-11% of its value the moment you drive off the lot. 600$ car payment? No thanks..
Another great video guys. I believe you mentioned texas isn't a good place to buy trucks due to the demand. Is there a website or maybe just your knowledge on where yo buy full-size trucks? I'm assuming states like NY or CA due to their hight population and stop and go driving. Thanks in advance!
Don’t come to NY to buy trucks... southern trucks are in so much better of a condition then northern trucks and if your looking for a 2wd truck you won’t find it up here in the north 95% are 4wd. If your looking for a new 4wd truck then you have found the right place but used stay away! And California would be the worst place to buy a car
Hey I got something you might want to talk about in a future video. I know I would like to hear your views on this subject. That is - dealers websites - they suck (IMO). I'm not sure if this is an issue nationwide but in my area a large number of new and used dealerships do a horrible job of updating their website. It's not hard to stumble upon cars on a website but is not available or on their lot. It's sold or something. Some of the second tier websites are weeks out of date. However, upon further investigation, I've found that a good percentage of cars on dealers lots are not on their website. No marketing whatsoever. That just blows my mind because they are potentially missing out on customers looking for that particular make and model. Worse yet, I think the dealers are doing it on purpose. I have my suspicions but I don't know exactly why. Dealers that are embracing the internet (using V-Auto) are selling cars like crazy. Some are breaking sales records during the middle of winter and during a pandemic. Do you guys think that they are just to busy to keep on top of their Internet marketing or is their internet marketing poor because they want it to be?
Someone should design something like a nation wide website where the info of cars come up at least when you are searching for a particular year, brand or model, it don't have to include pics or any anything fancy but at least to give a customer a lead on a car they are looking for and than that customer can follow up if they are interested in that car but it would be like 10x much more helpful i think
If a used car is listed as $23k on the dealer’s website, is it reasonable to try to get a $21k out the door price assuming there are no issues with the car? I’m trying to get a sense of when I’m just being unrealistic. Probably not a complete question as there are inventory assumptions that need to be considered.
what do you do at a market price based dealer where KBB and NADA on a used car differ by a lot? Edmunds is close to NADA, but KBB seems way high, of course that's what the dealer is using
BTW, the Carfax shows the used car was T-boned on the passenger side, so shouldn't they apply its diminished value from the accident to the car's market price? used the 17c method, assumed the damage was moderate instead of mild or severe from what's on the Carfax report
Charles, you can ask that they revisit their pricing based on how it is priced compared to other cars in the market that have a clean carfax. I know that we would evaluate our pricing weekly and we would also make adjustments when it turned out that we were off on our price. Stay safe, Ray
So.. i had 2017 CPO 32k miles clean carfax was leased. Toyota camry asking 16,649 got him him down to 16000 when i wanted 15800 and walked. Turns out it wasn't that bad of a deal huh.. this was a market value dealership
@@markinowlin9567 we went back in and got it for 15,900 out the door. Couldn't be happier with the car. Both parties made some money and saved some money
Hi, do you recommend buying a 1-2 years old low miles sorento or a new one with 3 months no payment + zero finance charge for 72 month or 3-4 grand discounts& incentives?(in north Dallas area)!
Hey guy's, as always another great video. One question though, what about buying from an independent used car dealer? Many will zero in on KBB and show their sale price in the middle range of KBB value. How do I come up with a fair offer to these guys. For example, one dealer I was talking to said he would wave his dealer fee of $695.00 off the asking price as a discount. That still kept the car in the KBB range??? Thank's, Jim......
Jim, compare their price to the prices of similar used cars in their market area to make sure that their price isn't significantly higher then what the market seems to be. If the price is within the market range there might not be a lot of room for further negotiations. You have to remember that the independent used car dealers get the bulk of their cars either at the auctions or many from the larger franchised new car dealers so they might have paid a tad more for these cars then a franchised dealer would have. Stay safe, Ray
