DON'T PAY CASH AT CAR DEALERSHIPS! (Here's Why) - Car Dealer Reacts - Marko - WhiteBoard Finance
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Today Ray and Zach react to Marko - WhiteBoard Finance's video titled DON'T PAY CASH AT CAR DEALERSHIPS! (Here's Why)( • DON'T PAY CASH AT CAR ... ). If you're interested in seeing more reaction videos, please let us know in the comments below.
I just sold a property in Portland and I'm thinking to put the cash in st0cks, I know everyone is saying its ripe enough, but Is this a good time to buy st0cks? How long until a full recovery? How are other people in the same markt raking in over $200k gains with months, I'm really just confused at this point.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Angela Lynn Shilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
This recommendation literally came at the right time, I dipped by $11k in stocks last week alone. Its crazy! I just looked up 'Viviana Marisa Coelho' online and researched her accreditation. She seem very proficient & I wrote her detailing my Fin-market goals. Thanks
I used physical cash to buy my first first car, it had less than 30 miles. They wanted $27,000, back in 2005 had saved up for several years to get a brand new vehicle. I said I want that vehicle there, but I won't pay more than $22,000. Out the door with everything. They laughed until I pulled out an envelope with $100 bills and stacked it up on the desk. He said $25,000 is the lowest he could go. I started to put the money away. The look on his face was hysterical. I told him if it's still here in 3 days , my offer remains. The 3rd day he folded for$22K
That must have been some car! What was it?
@@genxx2724 2005 Jeep Liberty
Good for you, I recently did pretty much the same sort of thing for a used upscale vehicle, and got a much better deal paying cash
Good for you, I recently did pretty much the same sort of thing for a used upscale vehicle, and got a much better deal paying cash
Good for you, I recently did pretty much the same sort of thing for a used upscale vehicle, and got a much better deal paying cash
I'm 68, female, short, and my late father taught me these tricks when I was very young. He'd let me go with him, sit, watch and listen. I've bought no less than 15 vehicles, motorcycles and company trucks over years. I walk in alone, and the salesmen think they've got a sucker. Thanks Dad! You taught me well👍🏼💪.
My last car I bought from a dealer was a low mileage used car. It was loaded with every option which was rare for a Mazda 3s hatchback. The price was unbeatable and I wanted the car. But I didn’t let it show and didn’t tell them how I was paying. We negotiated and got a good deal. Then told them I was paying in full, so there wasn’t any financial Mumbo Jumbo. They seemed set on price and weren’t trying to throw in anything. 11 years later, still driving the car and still love it.
I’ve done this. It works better if you visit the dealership several times and waste days of their time. Also get your own bank in competition with the dealership. Say “my bank will only lend $_____ for this vehicle. My back says it’s not with more than $_____. Also start calling other like dealerships and ask those salespeople questions right in front of the ones your sitting in front of. I left a Chevy dealership one time with an asst manager physically angry in my face spitting because I said my credit Union was $500 under our already agreed to price and went over his head to the general manager to get the final $500 off AND then got the asst manager to give me free bed liner, sliding back window and trailer hitch. He walked up to me and said very angry “what kind of hitch do you want? Are you towing a boat, RV, jet skis or what”? I said “oh I don’t have anything to tow I just want a free hitch”. He went back in his glass booth screaming and throwing things. I hate car salesmen.
awesome lol!! You could be a car buyer for people. My mother hired a guy to do all the wheeling and dealing, and she got a real good deal on a Lexus years ago.
Sounds like they don't like you either. Lol.
🤣
@@VOOODOOO37 Yeah, but how much did the car buyer charge you mother?
@@es2056 very reasonable, and worth it for a haggle free experience
Man you're lucky to get to hangout and do videos with your dad. I use to do projects with my pops and sometimes I felt like it was a burden lol. But when their gone, all you can do is remember all of those times u spent together. Take care of yourself and your pops. Always cherish your time together because the memories will always keep him alive within u.
That's so true.
Wise words!
Indeed, No to get sappy, but a dad and son relationship is special. You are lucky to be in the same business and your dad seems like a great dad.
This is so true. I miss my dad everyday.
You are so right. I lost my dad in November to covid. Cherish everything you can guys.
I just bought a car with cash, but I used all of your advice getting the “out the door price”, then began negotiating away all the fees, getting extras thrown in, then finally telling them I do not want to trade in my nice truck or finance. Feels good to get the last laugh.
Our cars are high-volume models like Toyotas. Here's what works. YOU SIMPLY DON'T NEGOTIATE, YOU DICTATE PRICE. You make a list of every Toyota dealer within 200 miles. You go to the first dealer, ask for the price (let's say they want $30K), and walk away. You call the second dealer on the list, and ask them if they'd sell you the car for $29K. Repeat, repeat, repeat until everyone says, no. The final price has dropped dramatically. A Toyota Highlander is a commodity, so it's easy to play everyone off each other.
The call backs would be astronomical you would have to have a fake phone number....
I am confused by this.
Totally agree, do your research and figure a price that's well below sticker price and you tell sales person what you want to pay and be ready to walk off they can't. I already have a list of dealers when I buy a car, move on to the next one, let the salesman know you have choices and be willing to walk away.
@@adriangutierrez586 He's saying you call Dealer #1: You: How much do you want for a new Blue 2024 Toyota Highlander? I'm on a budget here, and do need the lower price you're willing to take. #1: That would be $30,000. You: Thanks. I'll be touch. You: Hi Dealer #2, Dealer 1 has a Blue 2024 Toyota Highlander for $30,000. Can you do any better on price than that? #2: Well, I don't know. Let me ask my manager...... [on hold] He'll let me do $29,000 if we sign today. You: Great. Sounds real good. I'll just check on some things and might stop in later today.... You: Hi Dealer #3. I was really interested in the Blue 2024 Toyota Highlander. My loves it. I saw it over at Dealer #2 for $29,000. It's likely worth it. But, I happened to see your commercial and was just wondering, if you can beat 'em price. #3: Lowest I can go is $25,000. You: Wow! That's such a great deal for such a nice car. I'll just get final approval from the wife, and we'll head over to see it in person and maybe sign some papers. You: Hi, Dealer #1.... It's me again. You know, I happen to see that Dealer #3 is offering the same that Blue 2024 Toyora Highlander for just $25,000. I really like your dealship and all, but I can't pass up $25,000. Can you have any way you can beat $25,000? #1: Well, that $30,000 was a steal. I can do.... Boy $25,000? I can't.... Hmmm... Alright, tell you what. you come in this afternoon, and we can get it done for $24,800. You: Great. great. That's fabulous. Me and my wife might be able to swing by this afternoon. I'll be sure to ask for you as soon as I get there. ... At some point there will be a minimum price that none dealers are willing to go below, because they need to make money and pay commission. Generally speaking if you look hard enough you'll find some pretty accurate estimate of the true cost of the car plus minimum markup online. So, you know about where they should stop. So, when you walk in to the dealership, you can say I want the Blue 2024 Toyota Highlander for $25,000 just like I talked with [name] about. I am not sure if I agree with this tactic, because you're stringing along salesmen using the time, and they end up not making money on the deal. At the same time, you really do want to buy from them, if they give you the best price.
Vehicles have different option packages. They're not all the same. You've never done this.
I wish I could take these guys with me when I buy a car. I'm 68 year old female and the car salesman sees me coming with the word sucker written on my forehead. I've been ripped off with every car I've purchased. The dealership's know how to get every penny from me and I've been so naïve. Hopefully these videos will help me in the future when I'm ready for another car. Thanks for the great advice.
If you are in Inland Northwest, you can hire me to be your broker. I take 20% commission of the discount that I managed to get off of their initial out-the-door price
@tej k I looked up Scotty Kilmer and he's fantastic. Thanks so much for sharing his name with me. I really appreciate that.
Age has nothing to do with negotiation. If anything, the older you are the more you are supposed to haggle
Never go alone Carol if you can enlist the service of someone to accompany you so you won't feel so exposed and weak in the sights of a salesperson. I walked into a huge and impressive dealership to get some brochures (they were for a friend) on a particular vehicle and I nearly panicked, I told myself not to get into a conversation lest I end up signing for a new car.
@@anthonyxuereb792 I was buying a new car for myself, and I asked my gentleman friend to come along for support. The male salesman started engaging in conversation with my GF instead of talking solely with me. Finally, I nicely asked my GF to take a ride for a while until I finalized the deal.
I'm 57, and have never had a car payment. Only bought one new one, and the novelty wore off in hours. Hate dealing with dealerships because of all the games to take advantage of you. Just buy what you CAN afford, and skip all the stress debt can cause. Then save some money over time, and upgrade when you have the money.
Agree, the secret to clean, stress-free living. I avoid car dealerships as much as possible.
If ur average Joe like most people are and u want to build wealth . Don’t have a car payment. 600 month making compound interest is millions later. Ur absolutely right about the novelty wearing off. I went through a spell where I wanted to drive all kinds of vehicles. In the $5k-$10k range. Obviously not mint cars but was fun. Better than stuck in one vehicle with a big ass payment
Congratulations. Way to humble brag.
@@jrr7031Didn't t mean to humble brag. I mostly drove old cars instead of going into debt for new ones, that's how I avoided car payments. Learned to repair them too. Could have had new car debt, decided not to.
@@brucevrooman6107 Pay no attention, Bruce. JR is just angry with himself because he didn't do what you did/ do. There is no better feeling than having money saved and working for you and not falling into the trap of buying a car that immediately devalues.
You guys are the definition of awesome! Thank you for your efforts to bring your expertise, common sense (not so common) and truthful opinions to those consumers who need a break to afford one of the most expensive purchases in their financial lives. Thank you and God bless!
Years ago I paid $900 for a 3 year complete drivetrain warranty. When my universal joint broke, I found out that many parts of the drivetrain weren’t covered under the policy. U-joints were not covered. I’ll never buy extra insurance again.
I bought BMW (never again) and they gave me a bumper to bumper warranty. Nothing that has broken is covered under the bumper to bumper.
Had a brand new Volkswagen Passat about a decade ago. Little things popped up during the "warranty" but every time I tried to get it fixed under the warranty, they told me it was "normal wear and tear" and therefore not covered. Warranties are generally garbage, especially extended ones. Never pay extra for them. Needless to say, I'll never buy Volkswagen again.
Extended warranty in general is a scam. Don't pay for it and just repair things when/if they break.
The factory extended warranty works just fine and all exclusions are in fact common sense wear items. The problem is 3rd party extended warranties.
on my first car that ive bought to dealership, they slid some paper after i said no to extended warranty, probably done it after i readed the paper. made me sign it without knowing it. almost 3k of warranty. i was furious when i discovered it, was able i revoked it. watch yourselves ! hehe
I once went to a Honda dealership and the salesman raved how well the car was made and then they tried to sell me the extended warranty 😂
Dude, I almost cancelled the sale completely on my Honda in 2009 due to this, at Huntington Honda on LI, the guy would not let me say no, started with “you’re taking food out of my kids mouth by not opting for this”, and a load of other “guilt trip” crap, I told the guy, one sec, lemme go to the bathroom, I go to the sales guy and say “get this guy off my back, or the deal is off, and I’m walking outta here”.
Yes! When you are negotiating the price they tell you what a great car it is, how you can't buy a better vehicle, how long it will last and how smart you are to buy one! Once you agree to buy and get the paperwork rolling they send you to a guy who tells you that you need to spend a couple thousand more on an extended warranty because what you are buying is basically a piece of crud that falls apart if you look at it cross eyed!!
@@alansach8437 needless to say I walked out long before that.
When the dealer tried to sale me an extended warranty I told him I better not need it on a Toyota. Would buy one if I was buying a Chevy. He had no comeback for that.
@@tomr9074 shit! I have a Camaro, maybe I’ll need an extended warranty. At least now I know where to get one!
I was in the process of buying a Toyota King Cab years ago and I had made a deal of $17,000 or so out the door with my salesman.When I was in the finance dept. and ready to sign the contract the price was $268 more than I was told.When I told her that I already had a out the door deal she said"we can't sell you that for that amount"I asked for my keys back and left.They were trying like hell to get me back but I refused and never bought the truck.
Threaten to call the BBB unless they knock off another $500.
@@MikesDIYbbb actually works, companies give you things you don't even deserve and more if you report them ( i know this from first hand, i saw it happen )
@@ligafftheindifferent3495I dont understand how is calling the BBB going to help??🤔
So i guess, YOU were "out the door" .
If this is true. I can just hear the arguments they had losing a car deal over $268.
I still like to pay cash, if possible, simply because I don't want to now deal with a bank, early payoff issues, or other issues that arise from the loan. Even if it costs me a few extra bucks, I don't want to risk the added headaches. I'm not sure if this is the end-all best way, but it works for me and my mental health.
100% agree with you on this. I don’t like to deal with other people with the sale of a car except the car salesman and myself. The bank can fork it. I’m not interested in paying interest. Their buildings are already tall enough
8k@@MegaHunter90210
I agree completely. I don't care if it meant I paid a couple extra bucks. In the end, I own the car outright immediately. It is finished! There are so many extra hassles and hoops to jump through if you do a loan, even if you pay it off right away. I just want it all done right away, even if that means the dealership won't go quite as low as they will for someone doing a loan.
@@mattrooker5413 You saved money by avoiding interest payments.
Bypass all of this BS and buy a Tesla.
I bought My Hubby’s Truck with cash. I simply put the amount on the check & told them to fit everything into the number or No deal. I also let them know I was willing to travel 6 to 8 hrs away to get the same truck with the price on the check. It was 5pm on a Wednesday night & they needed to make a sale. It worked 👈🏼 & My Hubby was happy.
My last used car was selling for $10k plus taxes and dmv registration. I got the dealer to agree 10k out the door with financing. The finance guy kept trying to sell gap for almost $1k. He tried everything, he then said he would add it for no cost but he actually reduced the price of the car by $900. So next month I called bank and canceled gap and they refunded $900 😂
Thank you for this valuable information
Wow!
Did you pay cash or finance?
@@rasheemthebestfirstone3274 his comment is all about a financed deal.
@@rasheemthebestfirstone3274 finance
Times have changed. Dealers used to drool when you paid cash. Now they resent you for it. My parents actually said they were going to finance the car, negotiate the price for that, then pull out the checkbook and pay for it. They upset a lot of dealers by doing that. It also saved them a lot of money.
It easily could have cost them a bit of cash up front unfortunately. There's different discount incentives that are entirely dictated by the oem, and are based on how the deal is setup. Now they definitely upset the f&I guy doing that, but they likely negotiated on the basis of the higher price/lower interest captive finance deal at the same time. So the price was likely higher than it needed to be (changes every month so no guarantees), and there's no chance at all that your average f&i guy will point that out to you, especially after getting cut out on finance. Best thing to do is be honest with the sales guy on method of payment, but then be a wall of "no's" to the f&I guy on extras (that you don't want).
Manufacturers low interest offers can be a great deal, if you have cash invested, use their money.
They still lost because vehicles depreciate the fastest in the first 3 years. Buy used and save money!
I’ve never dealt with a dealer that actually took a personal check.
The honest way you handle this is to tell the salesperson, when he asks how you plan to finance, that you only have that discussion after a deal has been struck and you only have that conversation with the finance guy. This way, you're dealing with them in an honest way and not stooping to lying.
I can also attest to this. I have only owned hoopties and was trying to get a more reliable car. Got to the beginning of the Pandemic and stated I need to get something with a payment which I had avoided my whole life. Watched some videos and why you don't tell dealerships you are paying cash. It was spot on as to what I was warned about. And i was buying used. Same as the movie theaters... Concessions are so expensive because they don't make money on tickets.
We sneak in everything but the drinks 😅
Thank you for validating my decisions to 1. Never buy a car from a dealer, and 2. Never take a car loan. In nearly forty years I have purchased exactly one car that didn't give me the value I paid for.
Should always listen to advice and I like these guys. But every situation is different. We just bought a new car first of Jan 2021. The dealership really tried to force financing on us. They said we HAD to finance 80% of the total cost and HAD to pay on the loan for a minimum of 6 months or they would stick us with a $1,600 penalty fee. We expected this and took on the challenge. I walked into the dealership already knowing that the car we were looking at had been on their lot for over 6 months. They wanted to sell this car. We offered $2,000 below their price and called it the out-the-door total. Take it or we walk. Just as we were walking out the door, they accepted the offer. The finance guy started his "speal" about the multi-teered extended coverage, but I stopped him and said "we have an out-the-door price". We were done in 5 minutes. Wrote out a check and drove home.
The salesman spewed b.s. go you. There is no law that says you can't pay cash, certified cheque or money order. Why would anyone do that if they can afford to pay cash? The interest isn't worth it. Used Car dealers are selling extended warranties now. There are some extended warranty companies that will only honour a warranty if work is done at one of their authorized garages. You cannot just go to your local mechanic even though your mechanic's business is licensed as is the mechanic. What a crock!
@@cheraspinall8529 i have seen many dealers in canada, mentioned that Must finance, must pay less than 20% down. What a crook dealers have become
Lucky you. I had an "out the door" cash price at a dealership, they refused to accept my cashiers check. They are mostly just conmen and liars.
Don't tell them you are paying cash till you agree upon a price. If they start slapping add ons like processing fees, walk away. If they ask how you are paying, say "I'll have an answer for you based on price." If they get dodgy, walk away. Any add ons like super warranties are almost pure profit for them. I bought one of these and had a transmission failure due to a bad tube. They refused to cover it. Complete waste of money. Also a local dealer advertised a really low sales price on their cars. We walked in and offered cash. They said that price was only good on financed vehicles. That should be illegal. It's bait n switch.
You should have financed the car and then paid all cash 3 days later ...boy were they pissed.
how can you gett a good price iff you dont tell them cash at some point
@@terencedorsey6717what about an early payment penalty?
I did exactly what he said to do. I saw his video when he posted it and it worked well. I did the payoff in two weeks and did not wait for the 30 days. You guys just reinforced what I believed. New to the channel and I love it.
Doesn’t doing that affect your credit ?
Yes, it does. @@andreso6161
If you can pay off in cash, who cares.
Good video and good job. Over the years, our 2012 Prius V has been vandalized by rodents. I wanted to provide a couple of tips. I had to use metal screening to keep them from going into the snorkel which leads to the engine air filter, as well as the passage from the windshield cowl to the cabin air filter. Also, peppermint oil seems to keep them away but you have to apply it often. Finally, our most recent rodent damaged a fuel line near the gas tank. It was repaired by a dealer who told me that my car insurance might cover it. I filed an Insurance claim and they paid it.
My favorite is the "dealer inventory tax" and the paper work in most states actually has to say "this is a fee charged to the dealer and not mandated by law to be passed to the consumer" and people still pay it lol.
Is this the document fees you're talking about? I'm going to pick up my car in the next few weeks and I'm wondering what Bs they are gonna try to tag onto my OTD price that I was given lol
Yes! Dock fees are additional revenue..I refuse to pay and deal must include them as final price…no add on at end
There's also "market adjustment" fee if the car is in demand
Never heard of it and not on any Purchase Agreement either ... must be something the Scam Stealership drew up.
@@rickmarshall-hk5ys I'm about to buy a car and I completely forgot about that. I'm good with numbers not words so hopefully I play hardball correctly lol
Thanks for making this video I bought a new car yesterday and if I hadn’t of watched this video in advance I would of been so under informed this video literally saved me $3200 in hidden unnecessary fees . The dealer thought “oh I got her” little did they know they had a force to be reckoned with on their hands 😀😀 love this video ❤️
Julie, I am glad that we could help in some small way. That is why we created Your Auto Advocate. Stay safe and congratulations on your new car. Ray
Don't worry. They still got you. Dealers have been trained to make the customer think they "won.". Trust me. You didn't win 🤣.
@@mycatisromeo you are implying that she’s still lost but did not lose that bad.😂
@@mycatisromeo buying a car isn't about winning and losing... dealership needs to make money and you personally need to get an affordable deal...
@@mycatisromeo what would be winning? Of course the dealership didn't lose money on the deal.
I always pay cash, but never reveal this until we have negotiated an acceptable the Out The Door Price in writing.
Here in NJ after the taxes, we have a state gas guzzler surcharge if it gets 15 mpg or less. We also have a luxury car tax if thr car is over 35K and lets not forget the state rubber tax of $1.50 per tire. The state leaves nothing for thr dealer to add on!!!! Great vid
The dealer earns a LOT from selling third party warranties. Much smarter to have enough money in savings to self insure for major repairs.
A friend of mine who recently purchased a new car had me examine the sales proposal prior to agreeing to it( I was in the business for nearly 40 years ) and many things they told him were absolutely insane! For example 1) $500 in " closing costs " 2) 250 for " DMV paperwork processing " This was in addition to actual state fees, which legitimately in PA are about $75, depending on if you need new plates... 3) an additional " Doc Fee " of $475 4 for their grand finale, they told him that, under state law, he had to finance with them....if they accepted his cash, they could " lose their license..." I of course told him if he wanted to pay liars an extra $1300 bucks for absolutely nothing real, he was dealing with the right guys. I did a little research, directed him to a dealership that was well recommended.... He's driving his new car now. I'm sure you can guess where he bought it. Great video, guys.
I'm looking at a 2023 I'm trying to find the best deal and the best car maybe Honda or Toyota can you help me please to pay cash they're dragging me with all these fees first of all I know I don't go in and say I pay cash but I did The first three car dealerships Honda Toyota and Nissan first of all they had me in tears and I knew I wasn't supposed to pay none of them big heavy fees but they were just like going back and forth I know the man come up to me and just said no I have to pay them fees when I had clearly $30,000 in cash in my hand Well in my pocketbook I just don't know what fees I have to pay and I don't have to pay please help me
@hughbarton5743 please help me I left u a message 🙏
@@wendy8561there’s a video here on this channel where they explain everything and what fees you don’t have to pay and which ones. Here are some I remember 1. Destination fee 2. Doc Fee 3. Pipestrip Fee 4. Market Adjustment fee 5 Advertisement fee 6. Refuse Nitrogen Air -filled Tires 7. Refuse Life Credit Insurance Keep watching this channel. You will learn much more !
You know all that going in. You want a new Chevy, you are only willing to pay 50,000. The dealer says 51,000 you walk. The dealer says 48,000 you walk again because you know they are going to add 2000 more. Not matter what you say, 50,000 is it. If they demand more, you move on. Nothing personal, the deal is just not for me.
@@wendy8561 . Were you able to get a car? How did it go?
I made that mistake in 1992. Didn't know that was a "no-no." The guy went and talked to the manager and all they'd sell me was the demo model. It was a beautiful, teal Geo Storm, but after I bought it I realized the frame was put wrong on the car and you constantly had to turn the wheel to the left as you drove. Went through tires like crazy. 🤪 😜
Fantastic! Thanks for making this video! I wish to see a video of you guys explaining how to negotiate when we already got a loan approved (outside of the dealership) and we just want to buy a car (used or new). TIA
Wanted to leave a comment to thank you for this video and the free Out-The-Door tool! My wife and I were first time car buyers and we used the advice from this video to get a deal that we were very happy with. We really didn’t know exactly what we were getting into, being first time car buyers, but after watching these videos we were not surprised by any of the tactics the sales people gave us. We ended up walking out of the dealership because they were not at the number we wanted and as soon as we got down the road they gave us a call offering the OTD price we wanted. So I just wanted to leave a comment saying thank you for the video, it really helped!!
Exactly. I'm fixing to purchase new and tell you what I'm NOT paying a dealer fee EVEN IF ITS THEIR MANDATE! I'll purchase out of state if I have to I'm NOT married to a nearby dealership.
How wonderful to have a father and son team .
This is invaluable information that should be viewed by everyone looking to purchase a vehicle. Great job guys!
This was such a good video that I’m watching it again. I don’t know if I’ve ever done that before. Thanks!
I paid cash when the salesman dropped off the car at my home. I never went to the dealership. I never even spoke to anyone except salesman. The salesman even drove away in my trade in. Maybe I could have used this negotiation tactic to save $500. It’s not worth it for me. I’d pay $500 to not ever go to the dealership.
Your first mistake was trading in your car. You lost a lot more money than $500 on your trade. Always sell your car yourself and you will get more out of it. Dealerships have to sell your car for more than they give you for it to make a profit.
@@andrewhuffman7156 That's a headache as well and it's hard to tell how long it will take for your car to sell. Convenience vs. profit.
@@andrewhuffman7156 You save the tax on the trade-in portion. So you are not losing out. Furthermore, you have far more negotiating room with a trade-in, as dealers are desperate for cars to sell, and they make way more money on used inventory. The lowest APR (with good credit) is around 7% on used cars at most dealerships.
@@georgejones5019 You save the tax on the trade-in portion. So you are not losing out. Furthermore, you have far more negotiating room with a trade-in, as dealers are desperate for cars to sell. The guy doesn't know what he's talking about. Trust me, you did good!
@@AbleMable I agree, personally, my trade-in often still have good KBB value, likely to be over $20K so finding a buyer at that price range myself going to be tough, not to mention other security concerns. Plus like you said, the tax saved on trade-in will balance itself out. I traded in a 15 Challenger SXT+ 50K miles for $21k last year, saved $2K of tax toward my new car. 3 months later I looked up online & the dealer sold it for $23.5K. Totally acceptable to me.
KZhead tip, when starting the video, drag the progress/timeline bar to the end of the video and then click the replay button. Viola, no ad breaks now in the video.
Genius! Thanks!
Thank you!
🤯
Wow. They'll figure that out and f it up.
Or DL KZhead Vanced
Greatly appreciate the genuine father son duo kudos!
I did the same thing to negotiate down as far as I thought they would go with the out the door price. Then when they put the finance papers in front of me, I wrote a check. No finance fees, no nothing just out the door cash...
Am sure I am incorrect... just bought a new Buick. We set the price, I was paying cash... we were in agreement and set.... then came sales tax, 9.1% and admin fee, $499..... just could not do with those extra charges... so I offered to pay the agreed on price and they could put the extra charges on their side of the deal... after heading out of the office... they agreed.... I was happy, so were they (?)... not sure of how this looks to others... hate buying cars.
I went to a dealership and I showed up in a 20 year old mini van as an experiment to see how differently I would be treated. I had the full cash to pay outright but didn't tell the salesperson. He initially asked how my credit was and I say it's fair. He asked how much down payment I had and I said $2000. He started showing me a stripped down, fairly inexpensive SUV. I said, I want to look at this Denali SUV. He said "that's too much truck for you". He then "turned me over" to another salesperson. That person let me test drive the Denali. I said, I'll take it. We did the initial 4-square worksheet. At that point I said, "take off $4000 and I'll buy it now with cash". The sale manager agreed and I left with a beautiful SUV and the best part, the original salesperson was so ashamed that he profiled me and didn't look at me once. Knowing what this video shared, I should have financed and paid it off before the 30 days but still got a great deal!
I really like your presentation; i find it easier to watch a dialogue between two people than just trying to absorb/memorize a lot of bullet points spoken directly at me.
Kudos to you and your Dad working on this really informative channel! I wish more experienced (older) folks would share their years of knowledge and insight to help others. We need more teams like you guys!! Thank you!
just now finding this channel ... I needed this last year doing my research. if it wasn't for by pure chance to find a finance negotiating company that did a lot to get my interest rate and even put cash in my pocket a month after leaving dealership with their financing company. great content
I have a Tundra and did have a Camry. I've had about 8 or more problems with the "computer" saying "Eminent Explosion" or "Engine Knock Indicator" or just not starting, or engine goes off while driving slowly across the yard. After opening the door and pumping the brakes or the tow truck driver getting in for the second time the vehicle is fine. One reason was a very slightly low battery per an engineer. A slight bump by a culvert did shut the engine down but was ultimately(8 more times) the low battery.
This was so much fun to watch. Will certainly subscribe and when I get ready...You are the guys...
Last time I bought a car I negotiated a price with the salesman. I showed up with a check for that price the next day. The sales manager was not happy. He wanted to sell me an endless list of additions fees. I had the check. He got no more dollars from me.
Can you have a blank check with you right then and there?
@@richardsanchez9190 I think his point is they can't try to sell you anything else or add on anything if the check is already written when you get to the dealership, especially if it is a cashiers check from your bank. Unless they get you to write a personal check to cover anything else they've sold you, but, his point is, don't do that!!
I just started watching you guys. I LOVE your channel!!!!! I am very infested in all these topics and have often wondered how Things flow behind closed doors. I had a very very good job at a very young age and was able to buy some higher end toys for my age. I have been a victim of being taken advantage of by car dealers for over paying and buying the add ons ive lost hundreds of thousands on dealers taking advantage of me. Wish I knew what I know now! Keep up the good work !
@CarEdge you guys are great. Ive learned most of these techniques over the years. I also have an MBA and understand financing issues (to some extent). A few years ago, I was in the back room finalizing a Ford F150 (painful long process). Finance Mgr. was pleading with me to get a loan through Ford Credit. I said, no, Im paying with cash...he said "Well I can get you another $500 off if you take a loan with Ford Credit, but dont pay it off for 30 days..because I will get penalized". I got the loan, an additional $500 off the truck and then paid the loan off (no prepayment penalty) in a week. I didn't want to pay any interest. Regards,
I’m 2 years late to this video, but I saw Marko’s video 2years ago. Used a lot of his advice, and guess what? I’ve walked out of dealerships since then. Thanks Marko! Now, I can’t wait to watch your reaction here as I’m new to your channel and throughly enjoying it.
I did once, I negotiated like I was gonna finance, got them to agree to a super low price because they thought I would finance with them. And once it was agreed, and they thought I was gonna finance on the said price, I pulled cash out. The manager was pissed lol not once mentioned I was gonna do cash lol
Honestly this is the proper way to do it. Every dealership wants you to focus on payments and if they are all in on everything the get the deal done, just whip out your check book and write it out. When you have a deal, they won't back out unless you're becoming a disrespectful D bag.
Can they back out of the negotiated price once they find out you are paying cash?
@@jasonschwartz2347 They can back away because no papers are signed at that point. If you have the cash...you can be flexible. If the dealer insists on the loan (as they said on the video) take the loan and pay off after ten days. It will still cost you a few dollars but may be worth it.
@@UTube_userRMThanks for your input. It's funny, that's what I did with my last car. I took whatever interest rate they gave me, and paid it off two weeks later. Will utilize the same tactic next time as well..
Who have 25,000 in cash to do this? Not many so what's the point?
Very nicely done! Thanks for taking the time. Most informative and enjoyable to watch!! BZ!!
So, here is a question: why not just follow this "guide" but when you finally get your "out the door" price and when they put the finance paperwork in front of you to sign, why not just say that you change your mind and you decided to pay cash instead? Can they refuse to sell it to you even though both parties agreed on the price?
Yes they can refuse to honor the agreed price. Happened to me.
@@KpxUrz5745 Thanks.
Great advice in here, gents! Never thought about taking the doc fee and other fees out of the sale price. Well done.
You are both right .As they always spring a few of these extra charges in the finance office, especially the bigger dealers. Also the bank or lenders don't move so fast getting the final numbers by design (always an excuse);but it's ok as you still are only paying interest for say an extra few weeks at most.
You can do the financing through your own bank. Or if it’s cash, you get the out the door price, minus trade then pay cash there. You don’t need to have the dealer pull your credit causing it to go down for no reason.
your credit score does not always go down when a dealership checks it. Mine actually went up after I financed a car. It moved from 820 to 835 and I checked it about the beginning of the next month using my bank's APP.. Of course that was 2019 and things could have changed since then.
@@RonBand01 it’s an algorithm. Which is based on past experiences like delinquency, or if you pay on time even if you pay ahead of time. Credit scores are just a gauge as to how well you stay in debt. If you make the payment ls when you should, not before or after then your credit score will go up because you pay interest. It goes down when you either can’t pay, or you pay it out in advance. Banks don’t make money on either of those transactions, so your credit score drops. When I didn’t pay, it went up, when I cleared my debt, it dropped
It’s going to go down when your bank does it
@@rodger7029 the point is you can negotiate your own terms outside of the dealers banks who gets kick backs for ripping you off. But my full opinion is, if you need a loan, you can’t afford the car
Get Destroyed, I think you are mostly if not fully correct in your statement.....in the case that the customer is Truly going to finance the purchase amount of the vehicle. But the point of this video is for the case where the customer is Actually going to pay Cash for the full final purchase price of the Deal. They go in with the disguise of "planning" to finance the car loan, with the aim to get the out the door price as low as poss. Yes, they Might end up with their credit score taking a hit due to the dealership running their credit, but it will be worth it in my view because they will be saving Thousands in the vehicle purchase deal when it's all said and done. Their credit will recover. Of course this is all based on the said customer being responsible and managing every dollar of the income properly. I think it all goes hand in hand, as a person smart enough to pull Marco's technique off and having the full amount to pay in Cash, is already a financial wise individual.
Interesting video. I didn’t watch it beforehand, but I did watch a few of your others. Here’s what I did: took a month to find the truck I wanted. Focused on OTD price. Refused to talk financing w the sales guy. Worked like a charm. Got 3k off MSRP and an extra 1k on my trade in.
I used to work for a franchise operation and what you are saying is very true. The margins on new cars are very low. The margins on finance and servicing are very good.
1. Marco is ABSOLUTELY CORRECT! Pay cash if you can but don't mention it until the out-of-the-door price is set and approved. 2. Why the hell should I be concerned about stealer's bottom line?!?
#2 - nontypo duly noted
Can they back out of the negotiated deal once you tell them you are paying cash?
@@jasonschwartz2347 Why? If the financing terms have not been discussed thus are not a part of negotiations... But make no mistake about it, they can - with or without a legitimate reason - back out at any time until the papers are signed. Remember: you are dealing with professional crooks with no integrity.
@@jasonschwartz2347 they can. And you can always go to another dealership
I bought two Fords from a dealer in a larger nearby city. During the first purchase, the salesman played a lot of games including a firm push for an extended warranty. I have been back a few times for oil changes and other service. During about half of the visits I get to hear some customer arguing on what their extended warranty does or does not cover. I've heard enough to never want to buy an extended warranty. The first car we purchase from that dealer we owned for 12 years and all we paid for was oil changes, two or three batteries, a couple sets of tires and one time paying to realign the front end after my 14 year old son hit a curb very hard during his second driving lesson. I don't think that the extended warranty would have covered any of those expenses, so an extended warranty would have been a waste by any measure.
Dealerships make 55% of their yearly gross by just selling a car. Selling ext. warranties, lifts, aesthetic add-ons, carpets, winches, and a chimney if they thought they could. WHY would you pay for the oil, batteries, tires and parts - and the high mark-up of the application of these costs. Get a friend outside of the dealership to return a favor to her. I HATE DEALERSHIPS CUZ THEY NICKEL + DIME YA TO DEATH.
Never had an extended warrantee in my life, till the last two SUVs I've bought. I wait till the bumper to bumper is over and buy another 100k 5 year warrantee backed by the manufacture. In this case GM. I shop it on the good old internet. Last one was $2600, at the local dealer. $1600 at an out of state dealer, for the same thing. Both have paid for themselves, several times over. My 16 Acadia has had over 7k in work done in 125k miles so far. I still have 10k of warrantee left. Everything on the darned thing is a grand to eighteen hundred.
Not a waste by any measure; only by your experience. Mine was the opposite - my extended warranty paid for itself six months after I bought it after the factory warranty expired. Nothing's cheap on a Superduty so the extended warranty was a no-brainer, statistically as well as in practice. But as with all things, your mileage may vary....
@@frontagulus exactly! I for instance have a hybrid car and the electric battery with the electric battery systems and the motor is still pretty expensive in case something bad happens. I live in a place that it snows a lot and there’s a lot of road salt and anything could go wrong after a few years with the hybrid system. So I decided to purchase the extended warranty only because I have a vehicle that runs both on gasoline and electric power. I’m OK dealing with a regular maintenance on a gas car but if something were to happen to the hybrid system it would be an arm and a leg and some. So it really depends on what type of vehicle you’re buying whether or not he’s in the warranty is going to be a good choice.
@@griffinreitz7041 interesting. I assumed it was more expensive to buy the extended warranty later, although I suppose there's no economic reason that would be true, besides this: The dealer can bet you won't even keep the car that long and they'll pay out zero under that extended warranty. Once you own the 4 year old used car with 50K miles, they know you've kept it and will be using that extended warranty. But then you don't know that you'll be keeping your new car either, life throws curveballs.
The key is to get a satisfactory OTD quote (in writing) prior to meeting with the F&I office. Then simply stick to the OTD and write em a check along with a majority cashier's check.
Really helpful video. Thanks so much to you both. Just found you today and fun watching you interact, ha.
Here in california, every new car even used car I bought from a dealership once you get to the back finance office they have the ability to lower the interest rate. When they tried to sell me the extended warranty I tell them that I never buy extended warranties on anything. Once they realize I'm not biting they lower my APR on the vehicle to weasel in the extended warranty at a net zero additional cost. So they do have bargaining room back there.
Why not get out the door pricing why not write a check for that amount right then. When I pay cash for a car I get the price and write a check. I dont pay all the phoney fees and all that other crap. But you are right on about not telling them Im paying cash until all is said and done. You guys are great keep up the good work. I have sold cars for 30 years and you are spot on. Thanks
Great video guys, learning a lot from your content. P.s nice to see you and your pops making great memories; I lost mine and the way your pops looks at you reminds me of mine, he surely loves you man... God Bless you guys
We bought an extended warranty on a used 2018 Honda Pilot. Two months ago the transmission went out (77k miles on it), it cost the warranty company $10k to replace the transmission. So glad we bought the extended warranty. My Alfa Romeo Stelvio had its turbo fail at 60k miles (it’s been near perfect otherwise), again so glad we got the extended warranty.
10K for a transmission was bogus!
@@floydestelle6242 That’s the invoice the dealer showed us. I know, it’s a dealer, everything is shady.
Extended warranties aren't worth the paper they are wrote on. Anyone trying to convince me I need one I say well if this vehicle isn't good enough to last without another warranty I don't need it
I love the great father and son relationship you guys have,Great video,love you guys,Blessings.
Two good stories. 1) I know dealerships have the room bugged when you're waiting for the salesman to come back after talking to the manager. So, I did a bunch of fake talk in the room to my wife. I told her lets leave when he comes back and go to that other dealer that was giving us 10K off a 70K truck. Guess what?, when he came back he gave us the magic number of 10K off the price of the truck we were negotiating for. 2) another dealer on another vehicle I literally negotiated with one foot IN the showroom, and the other foot outside to show I was leaving. I got the price I wanted and came back into the showroom.
Thanks, I love a good story
"Bugging" a room without the occupant's' knowledge is illegal in many states!
@chutneysmith6469 you think that will stop them 😂
Also believe that is true as we have done fake talk on trade in etc. and ended up having the almost exact deal presented as we had discussed in "private".
I have always had an Out-The-Door (OTD) price to offer when buying a new or used car. Easy to estimate an OTD price now with services like yours or TrueCar. An OTD price eliminates the need to know all the ins and outs of the dealership experience. If anybody says, 'We can't.' I start for the door to find another dealer. I also walk in about an hour or two before closing. Dunno if that helps, but I know I'm more inclined to walk if I'm told 'no'. A few times the dealership called next day to accept the OTD offer - including my most recent purchase.
I bought a new Ford Focus for 2013 for $12,500 including 2 keys and mats (it was manual and had hand-crank windows). I told them I was going finance it, and I financed it at a ridiculous interest rate at 18%. My FICO score was 823. There weren't any other fees except for transport, tax, a small prep fee. There were no prepayment penalties. I paid it off less than two months later. I never would have gotten the car at this price if I hadn't financed it.
The government bs fee is cleverly named dealer fee separate from the typical documentary fee. It’s normally referred to as “electronic registration filing” or something similar. It is essentially a dealer fee with a more official name that almost sounds like it’s going to be paid toward a government agency. In my state, this was considered misleading and they now have to make a disclosure on every contract that this fee represents costs and profits to the dealer.
3:49 I bought the GMPP extended warranty way back in 2008 when I bought my new car and it paid off big time, especially when the engine had to be replaced. All I paid was a $50.00 deductible. In addition, there were numerous trips to the dealership because the car leaked like a sieve, especially from the crappy sunroof, something I will never buy again. In my case the warranty was a great investment, but this was a special case.
Great videos. I'm saving them! ALSO, Dad needs to do a video of his watch collection--Torgoen, Spinnaker, I love his taste in watches.
Thanks for clarifying WHERE to negotiate various things (sales vs. F&I). Somehow it didn't sink in for me from your previous videos, and I would have bought Marko's breakdown.
True words. I waited till the last minute on a car deal to reveal that I was a cash buyer. We were locked up in negotiations. I said to the dealer as I was getting up to walk away from negotiations, "well, I was here to pay cash, I'll just go across the street". They tripped over themselves to keep me there and make a deal. They also get incentives to move inventory, and they wanted to at least move the vehicle off the lot. We ended up in a fair deal for both parties. I say fair for both, because I'm not there to hose the guy, even if he is there to hose me.
I would have hosed them. Wait for a week and let them call me back
It’s never truly a fair deal. The consumer will always get hosed because you will never truly know the dealer invoice on new cars nor what it cost them to purchase used cars. IDC how much info is floating around in the web in researching. I know for a fact that KBB is tied directly into these dealerships. I researched a car and used generic info to get a car’s trade in value, retail, and private party value. I plugged in exact mileage and trim and accessories. I received a “value”. Next I inserted the VIN to get the same values and low and behold all of those values were significantly higher!!! Like on the high end of the values which was very close to the dealers asking price!
Naw, hose them. Fuck em. Car salesmen are burning in hell for all their lies when they die. More than lawyers
None of this works post-Covid. I've tried at several dealerships. They all said "That's our price, including those fees, if you don't want to pay them, have a nice day."
Just bought a new Corolla. They came down well under MSRP. They had all kinds of fees on there that they took off too. As soon as I told my wife “let’s go look around” they came down where we wanted. If they know you’re going to another dealership they know that you’re serious about buying and that they’ll lose the sale.
@@Encourageable this is helpful, as I'm in the market for a corolla myself. I'm hoping my OTD can be right around the MSRP. Is that how yours worked out?
That’s true usually the best you can do is pay msrp out the door price
I think we’re reentering negotiable car deals post pandemic. For the last 3 years no one had inventory. Why haggle with a buyer. Now inventory is growing so dealers are dealing again.
Back in your YAA days I was member and your info was great. I negotiated the OTD$ but in VT there is no prepay penalty so I "financed" it but paid off the loan the following week. This was on NYE of 2020 and I scored an incredible deal.
Gotta be careful of “minimum finance charge” if you try this strategy. I like to just say, “Cash. I will pay out the door this much.” And if they let me walk, there are millions of other car places and I can wait a few months until the “new cars” are being replaced by the next year models and the dealers have to now take less anyway. You do not have to finance to get the best deal. You are a sale to them even if they do not make as much on the car. They can always order a new one right when you leave for the next sucker. Just know your market and what you can get. You can try one dealer and just stick to crazy low guns just to see how far they come, then try another and so on. Remember, you do not care who you buy from.
So true! I paid 2k for extended warranty on my 2016 Ford...It's about to expire ( I have owned the vehicle 6 yrs) and haven't used the warranty .. I would NEVER buy extended warranty again!
You can cancel and get any remaining warrantee refunded to you on many of these....good luck.
Good advice. I notice past two times I've paid cash for a used car at a used car dealer. As soon as I tell them I'm paying cash they are not as happy and chipper towards me as a buyer.
I typed in invoice just now on a 2024 F250 6.8 and a website popped up at the top with Invoive, MSRP, and Destination Charge and 25 versions of the truck, way easier than I thought it was going to be.
I have seen many different videos on this subject, including Marko's whiteboard and Kevin Hunter' Super High Intensity Training. I find that all of them have similar advice. Fake Fees, bogus add-ons, and financial office tricks. I fell for all the dealership tricks last time and wish I was better prepared. Now I am educating myself so I can get a better deal. Thank you for all the free advice.
lol, "Super High Intensity Training?!" 😅
The last vehicle I bought was a 2019 Jeep. I negotiated the out of the door price and used my USAA buyers service to get the lowest price to start with. Jeeps notoriously have very little negotiating room, but the dealer wanted to move it because the 2020s had hit the lot. I stood firm on a very low price for the jeep and my wife helped because she didn't want me to buy the jeep in the first place. So she was very on price, and payment. The result was the killed me on terms, and sold it at a rock bottom price. I called the bank the next day and they said it would be a week to process, and they would call me. Four days later I paid off the vehicle. Several days later I got a call from the dealer, but I never returned it. They not called me since then.
That's deLIGHTful
Why did the dealer call you?
thank you guys. this was great information :)
Excellent tips. Thanks for sharing.
Thank you for explaining the out the door price and tax type fees!
I only buy new one way. Here's my check , do you accept this or not... and I make my offer 30 minutes before closing time.
Genius
Thank you so much for this valuable information!
Great video guys! Question: What do you think about following all of these negotiationg ideas but at the "end" of the negotitions you review your sales order to learn what the actual vehicle price is before finance charges and pay that amount in cash rather than financing even for 7 to 10 days? Thanks, Chris
Thanks so much, guys, can’t believe how blind I was when purchasing a car in the past!!!
Years ago we purchased a new 2007 mercury grand marquis and we purchased the extended warranty. Boy am I glad we did. Rebuilt transmission, whole dash replacement and much more. That warranty paid for itself 3 to 4 times what we paid for it.
Bought a used Jeep Liberty with 20,000 miles. In the 4th year, the keep had 90,000 miles and a blown engine. Dodge has a built in power train warranty on all of their vehicles. The warranty is good until 5 years and 100,000 miles. I didn’t purchase any warranty, but when I brought the car to a non- dealer mechanic he told me it was covered under warranty. Dodge replaced the engine with a brand new one for $100 out of pocket. Just sharing because a company that does that stands by their products. I just had to show proof of oil changes which I did.
I own a 2002 Toyota Tacoma TRD Double cab with 71,000 miles on the odometer that has always been serviced by the dealership that sold the truck. I took it in for the 70,000 mile service and had the service advisor go through and identify any services that had never been performed on the truck since it was over 20 years old. I gave the okay to do them all along with replacing the timing belt. The cost was over $2,500. The service associate called when the truck was ready to be picked. While I was just about to head out the door, he called back and told me the air filter needed to be replaced along with one license plate lightbulb. I asked the cost to do both, and he told me $90. I told him I would replace those items myself. It cost me around $30 for parts and 10 minutes for labor. After already agreeing to pay over $2500, they should have just replaced those items at not addition charge. The dealer will likely never service this truck again because I will find a reputable local shop for all future service or repairs. I'm not bashing Toyota here because the truck is now 22 years old with 71,000 miles and still has original brakes and shocks. It has been the most reliable vehicle I have ever owned and it's still in great shape.
Best to buy the newest used car you can afford from a private person. No dealer hassle, no scam fees or stress. Make sure your bill of sale is accurate and the title is signed in the proper lines.
GREATJOB! But, Sorry, there are many dealerships, especially in my area, (Tampa Bay) where the OTD price does indeed get negotiated with the F&I guy wherein he “checks with the manager” (the sandwich play or TO effort) and goes back and forth until the deal is agreed upon and then he prints all the paperwork. I agree with you that years ago most all F&I folks just tried to add-on some extra items and did not get involved with the final price of the vehicle, however, not much stays the same over time, things change, so maybe try not to paint with too wide of a brush, not every dealership operates in the exact same way.
I am SO glad I found your "Your Auto Advocate" today! I am planning to purchase a new car in a few months and want to get the best deal I can possibly get. Many thanks for sharing Marko's video and YOUR experience as well.
I have the extended warranty on a 2023 Audi A5. The car only had 5,400 miles, it was the dealerships loaner car. They gave us $900 off because I paid cash, I have no regrets on that since the car was in fantastic nearly mint condition. Lately, there's some minor exterior issues that I 'figured' were covered and 'like' be addressed now I'm currently getting jerked around with return phone calls that don't happen. I will be driving there in person next week and after till they get sick of seeing me. This ride stays in the driveway most days and will never see a downtown city environment. Too many a-holes on the road these days and no one gives a sheit. Even the insurance companies wanna jerk you around these days, it's just not worth having to deal with a whole lot of bullshit.
Luckily I bought an extra warranty because I drove 600 , miles per week on my 91 S 10 and every year the ball joints were replaced, the rest of the front end got replaced ( and I didn't have big tires, or plowed ) and the engine, so the warranty was worth its price
When I bought my car, I called the bank and kept asking when the loan would be available online. I wanted to log in and make the first payment darn near immediately. Interest my butt. 🤣
@Fred Wills Paying ahead and earlier actually helps reduce the interest accrued. The more you pay ahead, the less interest you'll have paid in total in the end than if you had just kept to paying the standard payment on the day it's due each month.
@@PhantomGP01 he’s talking about paying the minimum payment just early not overpaying on the payment, but you’re absolutely right something I’m looking to do soon when I go to buy a car.
Smart
I have a question- I leased a car from Honda - they put me through a credit Union because my credit was so good - they said I would pay less - the credit union reported the full amount of the car as if I Purchased it - now my credit report is reflecting this large amount - it’s never happened before- I called the bank and they said that’s what they do? It seems to be unfair reporting and makes me look like I owe way more than I do - can you advise on this?
I bought a used 8 year old truck. I was so happy I did buy a warranty. The repairs went over the price of the extended warranty.