DON'T SAY "I'M PAYING CASH" at Car Dealerships - Auto Expert Kevin Hunter

Kevin Hunter

Kevin Hunter

4,2 млн көрүүлөр715

    SUBSCRIBE HERE!! #PersonalFinance #Investment #Dealerships #Auto Watch the Dave Ramsey Show and think you should pay cash for your next car? Great advice, just don't tell the dealership that up front! Why? They WANT you to have a car loan!
    How Car Dealerships Rip You Off (The Truth). Watch out for the SET UP! Buying a Car, Truck, or SUV? Need advice? How Car Dealers Rip you Off (the truth) shares only the 4 Square, but's there's actually four elements in play during the sales process. #carbuying #usedcars #cars #newcar #entrepreneur #carshopping #autotrader #sales #investing #car
    If you wish to thank me with a tip:
    The Homework Guy helps you understand how you get tricked into buying a car TODAY when you only planned on LOOKING. Here's where you find the best automotive news and vehicle shopping assistance on the web! Kevin Hunter, author of "13 Car Buying Mistakes" "VTR VIN Window Etching" "Is Dealer GAP INSURANCE a Rip-off?" "What is a Dealer DOC FEE? How much should you pay?" and many others, publishes another great video to help car buyers. This is where you learn how to buy a new or used car at the dealer and not get ripped off.
    CATEGORIES: car, truck, suv, auto, used cars, autos, mechanic, automobile, vehicle, dealer, automotive news, auto shop, warranty.

    How to buy a car from a dealer with cash, with no credit, with bad credit, with your own bank financing, or with dealer financing. You need to know how to buy a car from a dealership. In this series, you'll get the best car buying tips anywhere. Beating the finance man at the dealership is a big part of it. Categories: car, truck, suv, auto, used cars, autos, mechanic, automobile, vehicle, dealer, automotive news, auto shop, warranty

    Has the Dealer Finance Manager ever ripped you off? Car Dealers have a right to make a profit, but do they have a right to lie to you? Here are the "10 BEST Auto Finance tips" if you are buying a car! Want to know how you beat the Car Dealership Finance Man? This MUST WATCH video for Car Buyers is the advice you've been waiting for on how to survive the finance office at a car dealer. Kevin Hunter lays out the products, strategies, and tricks the finance officers pull every day on unsuspecting car buyers, and many of them get away with what they do. You don't have to be one of the people they succeed in deceiving. Also check out Chevy Dude, How to Spot a dealership scam when shopping for a new car or truck.

    The F&I Manager, finance man, loan officer, business manager, or whatever the car dealer wants to call him or her... just remember this is the most skilled salesperson the dealership employs. They make more money than any other person in the dealership for a very good reason. They are sharks, and they are NOT looking out for you. They are looking out for themselves and the interests of their dealership. When they "shop" your car deal to many different banks, they are looking for the bank that allows them to pack the most product into your car deal. When you start seeing bank names like Santander, Capital One, Chase, Wells Fargo, Space Coast Credit Union, Regional Acceptance Corporation, Ally... just to name a few, you know you're sitting in a car dealers finance office.

    Kevin Hunter covers everything from extended warranties, GAP insurance, theft protection... otherwise known as window etching, paint sealers, carpet and fabric protection. All the details on HOW TO BUY A CAR, TRUCK, or SUV.

    This video was published to help you discover how you can save time and money on your next new or used car purchase by doing your homework first, and then going car shopping as an informed buyer.

    We are more than amused by a few of the car salespeople or car dealers who contact us and state that we are making a 'small problem' sound far worse than it is. We know there are honest people in the car business, and we receive positive comments from many of them, but it's definitely a buyer beware world out on the car lot!

    If you watched the video "Confessions of a car dealers backroom" you understand why you need to see this video. By understanding what mistakes to avoid, you'll not only become a smarter car buyer, but you'll also better understand what not to tell a car dealer when buying a car. It's true that you can play all your cards up front with an honest dealer, but unfortunately, they represent the minority of dealer owners (truly transparent and honest dealers make up about 40% of all dealers), and you are unlikely to know the difference until it's far too late. Be smart, do your homework, and you'll come home with a car deal that's good for you and the dealer. After all, that's what fairness is all about. We encourage you to be fair and honest.
    Need to fix your car? Check out Chris Fix or Scotty Kilmer! I also watch the Dave Ramsey Show! You should too!

    күнү жарыяланды 3 ай мурун


    1. Kirsten Haecker

      Does your advice go similarly with bringing in your own financing from your CU? I'm one of those "let's cut the bs, give me keys and don't send me a Christmas card."

    2. Bee Nash

      Everything you said, happened verbatim like you stated it would when I went to buy a car at the dealership. But, I was prepared thanks to your video. Thank you for posting this video, it was super informative and I learned alot..thx again K.Hunter

    3. Lamar Scott

      One word.....Wow!!

    4. Krishna Daruka

      Thanx and honesty is the best policy. I will from now on never believe that friendly car salesman and try to become a little intelligent.

    5. Jose Moreno

      Why not agree to finance, but pay it off in the first payment? The salesman gets some commission, the finance guy gets a little also, and you don’t have to pay the 32 payments of interest?

    6. Elektro lytic

      Thank you very much! I would like to share three very important qoutes with you that i try to share with as many people as i can. Jesus said: "If you do not repent (turn away from sin) you will all likewise perish (eternal fire)." "No one comes to the Father but by me." “Those who believe and are baptized will be saved, but those who do not believe will be damned.” God takes sin very seriously. Sin is lying, stealing, getting drunk or high, sex out of marriage, adultery, having other gods, praying to anyone else but God, homosexuality, pedophilia, witchcraft, hate, murder, suicide, to name a few. God warns that one sin will one day take us to hell in the same way that one crime can take us to jail, however it is not Gods will that we go to hell. God became a human being in Jesus to substitute us. He took the blame for us. He took our punishment. The Bible says that He went to hell and then came back and arose from the dead. Our fine has been paid, but forgiveness is not automatic. According to God we must do these three things to receive forgiveness. 1. Turn away from sin and tell God that we turn away from everything that is a sin. 2. Turn to follow Jesus, and also verbally express that to him. 3. Get baptized, baptism means to be submersed. We are to be submersed under water. When we have done these three things, we will be forgiven. God doesn't want to have religion with us, he wants to have a Father son/Father-daughter relationship with us and it begins after we turn away from sin, turn to follow Jesus, and get baptized. We can pray in privacy something like this "God I'm sorry for all the sins that I have committed, I turn away from everything that is a sin, and I turn to follow Jesus, please forgive me." Then go get baptized under water. If you haven't yet reconciled with God, please do it today, you may not have tomorrow. Thank you for taking the time to read this. God and I care about where you will spend eternity. For proof of God and Jesus please watch these videos:

    7. Mr Hansen

      Yea, hi Mr. Used car dealer, btw, I have $4,500 in cash in my pocket, what car can I get for that amount of money! They will sell you a car that is actually on sale for $1,500 to you for $4,500, Hell they may even give it to you for $4,000 just to show you how honest they are!

    8. Vito Cavallo

      Ask for no Early Payment Penalties loan. Negotiate the best price. Get a loan and pay off in 2 months to allow all companies involved to catch up. The $50 spent in interest is well worth the aggravation and time spent with sales people. And always show up with your research printed out, give them your spam collecting email account and no phone number. You will get contacted for months.

    9. Kirk Bergere

      nice content

    10. Earl O.

      If I already have financing approved prior to going to the dealership should I follow the rules as though I am cash buyer? I have 10k down, and approved for 11k from my bank at 2%. Don't want them to check my credit and it take another hit.

    11. Cecilia Haldane

      How depressing, I hate going to car dealers, especially with less than perfect credit.

    12. Stephen Powell

      Great video. I'm in Spain and dealers advertise two sales prices over here, the first much lower price is with finance, the second much higher price is for cash. They definitely do not want cash buyers.

    13. CA B

      just bought a car. the latest scams are low advertised price to get you in the door. The dealerships just want to book the appointment and are evasive about answering any questions about the vehicle. Yeah yeah, when can you come in to see it? is all they care about. Then they add mandatory $1500 certification fee, plus $1500 dealer prep fees, then $600 doc fees, then $750 "down payment assistance" which is code for penalty for paying cash and not using their financing. that is if they return your call at all. They are simply looking for suckers. We inquired at several cars in NYC area and most of the dealerships were tacking on these $4000-$5000 in JUNK FEES. didn't do business with any who operated like this.

    14. Ron Sexton

      Do you have one on motorcycle buying?

    15. James E. Morris

      It's a damn shame that a guy has to play all these games to provide his family with reliable transportation.

    16. Shin Akatani

      I didn't know CASH was a 4 letter word to car dealerships. I guess its all a game to be played when you go and buy a car at any dealership.

    17. Andy Perkins

      With the Internet it’s way to easy to shop around. Screw a dealer unless they can beat the best deal I’ve found. They can take it or leave it.

    18. JR

      there's no haggling anymore their price is what is unless you're at the tiny used car lot around the corner that trust me will take cash in heart beat. Federal Law Demanding twice the price if consumer wants to pay cash could be a "hidden finance charge" outlawed by Regulation Z if you actually paid the higher price. It is also a "Deceptive Act or Practice" under federal law - A three-part test is used to determine whether a representation, omission, or practice is deceptive. First, the representation, omission, or practice must mislead or be likely to mislead the consumer. Second, the consumer's interpretation of the representation, omission, or practice must be reasonable under the circumstances. Third, the misleading representation, omission, or practice must be material. [FTC policy Statement on Deceptive Acts and Practices]

    19. Dragnmastralex

      or you can just never deal with dealerships and let them all go out of business as we all do private sales to each other and let them all take their scams to hell with them

    20. Joker

      A good small business would be hiring consultants like yourself to accompany buyers to car dealerships. 😀

    21. Dark Vulcan

      The people that need this advice the most arent going to be outwitting salesmen with terms like this. Why even go to a car dealership anyway? Why not just buy used with cash or a loan through your bank?

    22. RandomThought

      It's horrifying to think that people ever believe ANY business is, 'looking out for them'. Ads are LIES! Salesmen are evil. You are allowed to earn an income ONLY to make the rich richer.

    23. Keepruvthknight

      So glad I found your channel!

    24. josef mengele

      i walked in with a big barrel of pennies, got the schitt beat out of me.

    25. Mark Davidson

      Why am I watching this.. I am Not even buying or considering to buy a car! 😂

    26. Dan Oberste

      Great tips! Any differences for buying a used, towable RV?

    27. chippledon1

      Imagine the process of buying a new car being as simple as going to a kiosk and ordering the model you want w/the options you want and then having that forwarded directly to the factory! I know I'm simple-minded but I am sure someone has had the same idea. Why are we stuck dealing with these con-men???

    28. dartek14

      thanks this is huge and confirms my experiences. now I know what the salesmen means when he says cash means nothing regarding the price.

    29. priscilla murphy

      Thank you. Appreciate.

    30. John Robinson

      Thank you my first time here,very very interesting! I'm so glad I had a chance to listen to you. I love the food for knowledge. I did think , now I know what to do when the time is. Right to buy a vehicle. Thank you .

    31. Regan Awale

      This video is all bs. Dont go for loans and interest rates

    32. Greg Egan

      So would a viable strategy be just get the best deal you can with financing, then on first payment pay off the car in full?

    33. Mark G

      Seems if you give a response like that they know your likely going to be paying cash.

    34. Trevor Latiolais

      No money left to afford a lawyer

    35. 1bluensx

      Good informative video

    36. Naresh

      Thank You so much for this video. , your advise is greatly appreciated

    37. Mark H.

      Another way to fatten the dealer's bank account: "Documentatation/Documentary Fee". In 2020, the State of Illinois allows dealers to charge....wait for it....$300 to file the title/license plates with the Secretary of State's office. It is NOT required by state's a gimme to the dealers. Other states also allow "Doc Fees"; some cap it, some don't. Don't fall for this nonsense.

    38. Bob Bob

      Just build your own.

    39. teto85

      I went through a scenario similar to the one presented, "I'm not talking financing until the deal is done and I talk to the finance person," and then basically said I was paying cash when we finalized a price and what I was or was not paying for. The finance guy balked and by the time I got up and was out of the showroom and halfway to my car his manager was running out to me. I waved him off and went to the second dealer on my list. Was at the second dealer for 15 minutes, essentially followed your script, or at least one like it, got my options, got my price, wrote a check at the end, and had the vehicle delivered the next day. And used the interest and fees I did not pay and took my family on vacation.

    40. PowerLady One

      Can you go car shopping with me?

    41. robert coleman

      thanks great video they do this every day i feel like i have sucker written across my far head when i walk in now i may walk onto a car lot lol

    42. ezr168

      Had the bike picked out, they agreed on price, went into the office and they tried to talk me out and into all kinds of stuff, I walked, they begged, never going back to a dealership

    43. ezr168

      Do not go to a dealership, buy used, problem solved

    44. Travis Olson

      Years ago when Lou Grubb Chevy was still around in Phoenix AZ my grandpa went in there and found an S-10 with all the extras. The salesman saw dollar signs with finance. My grandpa let him fill everything out check his credit and all that. When the salesman got everything done and presented the final number my grandpa wrote a check for the whole amount lol. Grandpa told me the look on his face was priceless 😂😂.

    45. MsPeinado1

      I wish I had seen this video before speaking to the car dealer. What do you do if you already made the mistake in telling them you’re paying cash? I was given a purchase price $1800 above a $4900 sticker price of a used car, of which $1200 are dealer fees.

    46. Carolyn L.

      Is this the same with buying real estate, recreational vehicles, or boats? With anything normally financed?

    47. sajen23

      i called a dealership about a car, and said I was going to pay cash. The car was still market price off my trade in.. wish I watched this first.

    48. sajen23

      3.6k care salesman disagree

    49. G Mack

      He spoke nothing but TRUTH

    50. steve1978ger

      Cash customers are not interesting to car dealerships, because their business is not to sell cars. Their business, and their main source of income, is to lure people into the servitude of another loan contract. They are just another front for the banksters. So if my cash isn't good enough for them, fuck them, I don't need a new car every few years, nor a new smart phone, nor a new television. I am not selling my life to that racket for a few shiny beads.

    51. Dennis Jenkins

      Good stuff!

    52. JD Atlee

      My offers have always been a total out the door price tax and all. I've never been turned down. I always pay cash and I never buy new. For instance, I recently bought my daughter a car. It was listed as a "great deal" at car guru. I took it to my mechanic and brought back a list of the things that were wrong with it. I told them I just wanted the windshield and the radiator replaced and that I would pay the "great deal" price as a total out the door. I got exactly that, but I did have to walk away from the deal for a minute and my daughter even helped out with "Mom, I like the one at the other dealership better." After they fetched us back as we were starting to drive off. "They could do the deal". Some guy in an impressive suit showed up all red-faced while we were signing and said "we're not even going to clean it for you this has been a waste of our time". So I got it out the door at the price I'd offered and the windshield and radiator replaced. I've always felt like they didn't really want those used cars on the lot anyway and that they had already made plenty off of it when they got the car as a trade-in. I think probably my tactics wouldn't work for an expensive used car but for a 6k purchase, it seems to go pretty well.

    53. Jerry Jackson

      Thanks for that info, but when you have your own financing through your own bank the negotiations is still the same, right?

    54. SriniP

      Great information. Liked and Subscribed!

    55. Jeffrey Kalb

      I'm wondering if this may have changed a bit during the shut-down. They have to be looking for some cash just to keep liquidity...

    56. Kelley Harris

      Thank you! I'm not a drug dealer but I plan on buying a car very soon and paying cash. Beautiful baby by the way. I'm hoping I can be assertive and go in like I know what the heck I'm doing! Lol great information, thank you again.

    57. Joey Gagliardi

      You have given me a lesson I will not forget, All I can say is High 5 along with 2 Thumbs up for your wise info. here in 2020

    58. kendallpaige60

      What about the extended warranty?

    59. TLaVawn Barnes

      I thought a down payment lowered the loan amount....I came to the table with $2000 on a $12000 loan and after all the extra fees, my loan ended up being $ I feel so jipped!

    60. Waterlooplein1

      I have to ask the obvious. How about if I negotiate the payment plan, get the car home, and then to to the finance place and pay the loan off? I expect there would be, say, fees for early payment or something like that? But can they really refuse early paying off?

    61. toni palmer

      Thank you

    62. Cody H

      First mistake is using cash at a deslership and not private party

    63. R.O.B

      Thank you ! And dont give the downvoters a second thought, they are probably all car dealers..

      1. Kevin Hunter

        I enjoy having my dealer trolls along for the ride. Of course, there's others who just disagree with everything, and I'd be disappointed if none of them ever found me... it wouldn't be a real world experience if they didn't show up. So, you're right on the money. I just smile and move on. Thanks for your comment!

    64. Nat Calverley

      I no longer buy my vehicles from dealerships . I have turned to buying used restored vehicles off of Hemmings. I get unique vehicles at a reasonable price and enjoy my interactions with the sellers.

    65. Velma Henson

      Finance and pay off early

    66. FalaqX

      This is the same if you tell them you have your own financing.

    67. ThisAllSoundsGood

      Do you also recommend keeping outside financing a secret until the final price is negotiated as well? I have outside financing from my credit union and plan to stick with them since it was an easy straightforward process with my first car loan. I'm guessing it's the same principle whether you have all cash or outside financing--they don't get the profits from in-house lending so they don't negotiate down on the listed price.

    68. Thomas Dreyer

      Makes sense. I stumbled on to this while viewing another video. Good stuff, straight forward. Great radio voice. As a retired Medicare Insurance Specialist, it was always satisfying to help people navigate the "Medicare Maze" and, in many cases, spend less, sometimes far less, than they would have otherwise spent or otherwise already spending. Transactions should be win-win, not "they win, I lose". I made a good living and received lots of referrals because I was honest, helpful and made an informed buyer out of them. They didn't always remember what I shared, but they could tell I knew my stuff and they could trust what I said. I was a broker, not beholden to any one carrier, thus I could find the better value without worrying about who paid me what. I once recommended a drug plan to a lady that, if it was one I represented would have given me $5 commission, but cost her money, far more. In fact, one client I recommended to buy a plan I didn't even represent because it would save her (truthfully) over $14,000 annually. I did sell her husband one that saved him about $1,100 and made $5. Honesty and integrity isn't always easy to find. Thank for the information.

    69. crowsin2007

      Could you just repeat that a dozen or so more times? I want this video to go on forever.

    70. Kurt B

      I just bought a car and never once mentioned payment method until 100% out the door price was negotiated. I got them to take an additional $300 off the price of the car to cover a $299 doc fee and paid a little over half by check and the rest in yea cold hard cash and it was well over the $10K threshold but I don't care if the government wants to investigate me because I haven't done anything wrong and the cash came from the sale of another vehicle I sold. This is excellent advice aside from the caution on the form 8300, yea drug dealers use cars to launder money, it's been going on for decades, drug dealers also eat and poop, so do I but that doesn't make me a drug dealer. When honest people begin to fear the actions or reactions of the government to how you conduct business something is seriously wrong with that government. I refuse to live in fear of the government that my tax dollars support.

    71. alfredo leones

      Ur that best thanks thanks you.

    72. alfredo leones

      Thanks you hunter .

    73. Steven Jerez

      Hello, if you finance a car, if you pay it off early, do you only pay interest for the months you were financing?

      1. Alex Lysenko


    74. stripervince1

      If you ever finance, two things. Total price X how many months. Simple

    75. stripervince1

      Fuck car dealers. Never bought from One of those snakes. Always private party.

    76. David Bolduc

      Well done. Very informative.

    77. BrooklynCashmere

      Is there ever a time NOT to haggle over price?

    78. Corey Gemme

      Question, and maybe you could do a video on this. My roommate just bought a Chevy Bolt and the salesman told her is was a DC fast charge model. Two days and a couple hundred miles later while visiting the fast charge station, she discovered it wasn't . She told them she wants them to swap it for the fast charge version and is even willing to pay the additional $750 cost. They said they don't have the fast charge version in the LT (lower trim) model that she has, and they can't probably can't get any from other dealers because they don't want to part with them. They keep telling her there is no "cooling off" period, as if she was just changing her mind, and that there is no such thing as a refund. But, they said if they eventually ARE able to get one, she can just trade in her current one (taking a huge hit from it being "used"). Any reason an honest dealer couldn't just refund her money completely (assuming they could't find her a fast charge model), or if they could find one, just swap it out without calling it a "trade in"? She's gotten the run around for the last week and has been paying for a rental car in the meantime as the Bolt sits in the driveway unusable for her driving/charging needs.

    79. Ken Long

      In most cases, the car company is providing the loan and there are great incentives built-in to attract customers. They almost always offer 0% introductory rates and low long term interest rates, below typical bank rates. And you can always pay off the loan as soon as the introductory period is over. Or, you can keep it for the good long term interest rate. Either way, it's always beneficial to take their loan. If you're worried about sales tactics, just expect them. Compare prices online and don't accept anything you don't want to pay for. Chances are they will cut the price just to sell another car.

    80. Dogwood

      I hate going to car dealerships, it is so hard to get the slime off my shoes the employees leave on the ground.