10 PRODUCTS: DO NOT BUY FROM CAR DEALERS: AUTO Expert Kevin Hunter 2021

ten products you shouldn't buy from a car dealership hi I'm Kevin hunter most people don't realize that one of the common ways people ruined themselves financially is by making really dumb decisions in a car dealership the content I'm about to share with you is just one of the many ways you really hose yourself with a bad car deal so there you are at a car dealership you just got done negotiating the price of your new car you might be feeling satisfied that you got a good deal but many of you don't realize you're not done yet in fact you are nowhere near done yet that's right you're going to make a visit to the finance office where the final paperwork will be completed and the office you'll be sitting in is the number one profit producing square footage the dealership has and you're going to get burned because you walked in the door being focused on car price dealers will use all types of sales techniques to get you to purchase add-ons for your new vehicle and unfortunately for you anyways while some have value most add-ons are marked up to the extreme if that sounds bad it actually gets worse not one thing the finance man can sell you will actually improve the ACV or the actual cash value of the car don't ever forget that the only thing you're doing in that office is burying yourself financially I'll get into that in a moment but first remember to subscribe to the channel if you're new here hit that notification bell for more great content and make sure you share this on social media it's the best way you can thank me for helping you here today all right let's get started ten things you shouldn't buy from a car dealership number one paint and fabric protection getting paint and fabric protection from a car dealer can easily add a thousand to fifteen hundred dollars to the overall amount you'll be paying for your vehicle most dealers try to sweeten the deal by claiming that their paint and fabric protection plan comes with a five year guarantee or even more however any standard paint finish should last for five years or more anyway if you care for your vehicle properly washing your car an occasional wax job actually does wonders for the paint the smart thing to do is to save your money and address problems where they occur as a PO to spending it all upfront at the dealership easily a thousand bucks saved number two roof racks a roof rack can be incredibly handy however instead of purchasing this particular add-on from the dealership who will slap a nice big fat markup on it why not visit an online retailer or take a trip down to your local sporting goods store where you'll be able to find some of the same add-ons for much less another big chunk of money saved number three key insurance back in the day car keys and key fobs weren't all that expensive but today some keys can run you hundreds of dollars for replacement to alleviate this issue crafty dealers offer key insurance to help you cover the cost of keys when they're misplaced or stolen if you're replacing a laser-cut key you might end up paying $500 or more and unfortunately for you there's a good chance your standard auto insurance policy doesn't cover the expense still when you think about it the idea of paying for a $250 insurance plan to cover a $500 key does that make any sense to your wallet are you still worried about this we'll talk to your auto insurance company and see if you can add key coverage to your existing policy you might just find that you only have to pay a fraction of the cost the dealership is asking another wad of cash saved number for protection packages for everything under the Sun like windshields tires wheels dents scratches it's common practice for car dealers to create bundles or offerings most of which include a number of products you don't need into a single protection package a common package you would find includes windshield tire wheel and debt protection well there's nothing majorly wrong with providing extra peace of mind for your new vehicle there's really no need to spend an arm and a leg and that's exactly what your dealer is going to charge you you know you're going to get a rock chip or crack and your windshield at some point right we'll put some money in a savings account for that you also get a dent in your bumper or blow out a tire roads are rough because you know politicians are busy siphoning money out of the road fund for their favorite lobbyists but I digress the truth is there are millions of vehicles on the Road the statistics are against you when it comes to avoiding some kind of ding scratch or dent in your vehicle or maybe even have an accident again your money would serve you better if you put it away in your bank account and paid for damages as they occur if the damage is too severe well that's what car insurance is for besides when you get good at saving money you might have a sizeable downpayment or even be able to pay cash the next time you go car shopping another stack of Jackson's saved number-5 gap insurance if you happen to get into an accident and you owe more than what the car is worth the amount you receive from your insurance company may not be enough to cover the entire loan balance you may have to cough up a lot of money out of pocket to cover the remaining gap unless of course you have gap insurance gap insurance is often a requirement on leases and while it's not a bad idea for some buyers to get gap insurance the amount of money you'll be paying out of pocket at the dealership can be horrendously high it's very common for gap at a dealership to be over $1,000 if you think you need gap shop for a policy with a typical insurance company just don't use your current insurance company trust me on that you want a different company paying out your gap policy because insurance companies can be slimeballs too and they will take the cheapest route they can to getting your car back on the road if they hold both policies insurance companies have been known to avoid totaling a car that should be totaled and you wind up with a car that now has a bad CARFAX and huge losses in Book value because of it still get that gap insurance at an outside insurance company or lender and you'll find that it costs about $35 a year do your research I'm stacking up those Benjamin's for you another thousand bucks saved number six nitrogen in your tires some dealers are still trying to pump up your tires with nitrogen as opposed to good old-fashioned air which by the way already has 70% nitrogen you probably didn't know that you'll hear all those NASCAR stories as if you intended on taking your car out on the racetrack nitrogen does have its uses it adds more pressure stability as temperatures change and it seeps out of your tires at a slower rate than normal air and it generally has less moisture content these are all the reasons racecar drivers love filling their tires with nitrogen however since you won't be driving a hundred and eighty miles an hour around an old track you won't notice those subtle differences instead of breaking the bank and spending so much on filling your tires with nitrogen think about buying a good tire gauge and make sure your tires are always topped off with air now if you feel truly inclined to fill your tires of nitrogen then go down to your local tire shop and then ask them to provide this life-changing service for you meanwhile the dealership had this little gem tagged at 400 bucks don't be stupid just say no to nitrogen 400 bucks save number 7 theft protection oh my gosh these things have gotten ridiculous there are a variety of security packages that are designed to scare off thieves but they come at huge market prices when you get them from dealerships if you have a big theft problem in your neighborhood there are always more affordable and more effective third party options also consider that if you're buying a new car it already likely has an anti-theft system in place for example many new cars come with the OnStar system that can be used to track the location of your vehicle even more useful is the fact that OnStar can shut the vehicle down in the event of a police chase go visit your local car audio and electronic shop to look for higher levels of security which are often custom-built to suit your vehicle specifically if a security system is added to the price of your new car demand that your dealer strike that feature from the contract to reduce the cost always be willing to walk away from a deal if your car dealer doesn't want to work with I've seen these theft systems run a thousand to fifteen hundred dollars don't waste your time more greenbacks saved number eight rear seat entertainment systems if you're a parent you know that keeping your kids occupied during long trips can be a necessity with that said installing TV screens into the backseat of your car will cost you a pretty penny whether it's installed from the factory or added on in the dealer count on spending a thousand bucks or more instead of spending so much money to install an onboard system consider purchasing tablets a couple hundred bucks and you can move from vehicle to vehicle or anywhere else they want to go this will keep the kids occupied as they watch their favorite shows and play their favorite games tablets are fantastic and affordable alternative when it comes to rear seat entertainment 800 bucks saved number nine window edging let me say something here any dealer still selling this should be hanging their heads in shame for you that don't know here's how window edging works your VIN number is etched into the glass rear window which in theory makes your vehicle useless to thieves who will not be able to sell it without going through the effort of changing out all the windows dealerships will often tell you that this measure makes it much easier to locate a stolen vehicle that part is completely crap also if a thief wants your car's they're probably not going to be thinking about or likely even noticing window edging anyways and even if they did savvy thieves simply replace the windows and recover their money when they sell your vehicle always look at the fine print of any contract you sign sometimes dealers are famous for pre printing add-ons such as this window edging and putting it into the sales contract making it seem as if it's a necessary expense they'll say we do this on all our cars or it's already on it we can't take it off well don't buy any of that nonsense if you spot this in your contract insist that it be removed even if you want your VIN edged into your windows there are many ways you can go about it that will save you bucketloads of money for instance you can buy a do-it-yourself kit on Amazon just 25 bucks don't let the dealership trick you into thinking they're the only ones who can provide this service don't let a dealership steal your money with a theft program at that 500 to a thousand bucks saved number 10 service contracts also known as extended warranties a vehicle service contract or vehicle protection plan provides coverage for anything that might break after the standard warranty from the manufacturer has run its course there's certainly nothing wrong with a good extended warranty they provide the insurance you need in case your car decides to start having problems after your standard warranty ends however there are two problems first dealerships tend to Excel extended warranties at horrendously high markups secondly some dealers sell service plans that aren't worth the paper they're written on they cover nothing here's the deal new buyers tend to understand that they don't need to purchase an extended warranty when they first drive the vehicle off the lot and they certainly aren't required to purchase one directly from the dealership a better alternative can be to check with your insurance agent or lender who will likely have similar coverage with a price tag that's far more forgiving for your wallet or purse don't let anyone tell you that you must rush into buying an extended warranty you can buy one at any time during the lifetime of your vehicle so don't feel pressured into buying one right now when you're at the dealership you have plenty of time to think on it in many cases here's another twenty-five to thirty five hundred dollars save let me conclude with this be smart with your money even if you don't have a car payment now save something every single month if you're financing put twenty percent or more down always pay your tax title and license fees out of your pocket why in the world would you finance fees in taxes alright never take a long-term financing deals either you get screwed with them always every time don't have such a big ego that you think you must drive the finest car on the market if you have a golf cart budget your car doesn't define you drive what's comfortable dependable and doesn't put you on poor Street if your car does define you I'm guessing you have other issue you're in denial about - only an idiot goes into the car dealer and drives away being car poor for years to come for some of you I offended you at this honesty but somebody had to tell you dealers are getting fatter by the day because they will never tell you the things I've told you here today and some of you want to keep thinking it will work out differently someway somehow for those of you who did appreciate the help subscribe to the channel hit that like button leave me a comment and if you want to thank me for my efforts share the video on social media with your family and friends they deserve a fair car deal - I'm Kevin hunter until next time take care you [Music]

Channel: Kevin Hunter The Homework Guy

Views: 366,238

Rating: 4.9314876 out of 5

Keywords: Car prices, Car prices set record highs, used car dealerships near me, car loan calculator, Auto sales, Used cars, Car, Cars, Car dealers, Automotive news, Car news, Automotive, Vehicle tax, Vehicle fees by state, Auto Shop, Car parts, Auto market, car dealer finance office, rebates for new cars, car loan scam, dealer rip offs, market watch out for this financing scam, what to do when a dealer lied to you, illegal things car dealers do, what to do if a dealership rips you off

Id: gO6IkEKj0kM

Length: 13min 51sec (831 seconds)

Published: Wed Feb 05 2020