How to avoid making a bad purchase when buying a new or used car.

Hey before I begin this video you see that right there that's my friend Carlos he works for mr our wheels in California absolutely great guy great company but he makes a bold statement in our c8 corvette group by the way if you're not part of that group there's a link in the description more and welcome to join in whoever puts on Lambo dork it's on their new c8 gets a beat-down by all the members there I said it you can see my response I'm going to come get me so we have a little challenge here you think Carlos is gonna come get us if I put lambo doors on my c8 so here's my challenge to you if you don't already subscribe to this channel and you hit that subscribe button and this channel gets to 300,000 subscribers before I get my c8 I will put lambo doors on my car day one tell a friend hit that subscribe button let's have a little fun hey everyone welcome back to the channel I hope you're having a fantastic day I'm really excited about this video because this video there is nobody in the world immune to knowing this information when purchasing a car it doesn't matter if you're purchasing the car from a private individual it doesn't matter if you're purchasing the car from a dealership or buy here pay here a lot or anything like this this video is all about making sure that you get true and factual information so that way you can make a well informed decision on making a car purchase all of these cars behind me even down to my 1995 the Silverado my Tesla my Corvette my daughter's blue car my son's car that I helped him purchase back there we all had to have one thing and that is actual numbers of what we're purchasing the car for now a lot of dealerships out there especially when you are making payments in your car they do not always show you all of the numbers to make a well-informed decision you walk into the dealership and you are doing exactly what the dealership wants to do buy based off on payment now a lot of things in this world we're all subscription-based and the car business is getting very subscription-based a lot of times consumers especially Millennials especially you Millennials you need to pay attention to this really really closely we all sit there and we don't care about the end cost we all care about what sit fit into our budget I sell cars every single day every single month to people who are making very bad decisions on making a car purchase so I can't stop them if they want to carry over ten thousand eleven thousand twelve thousand dollars in negative equity let them I can't stop them if I don't sell them a car they're just gonna move on to the next dealer and that next dealer will sell them a car and I don't make any money and I don't feed my family so I inform them of the right stuff they need to know but I'll always sell them a car regardless of what the situation is so I want to help and give you the information that you need to ask from a dealership what to look for and to know exactly what you're looking at when it comes to purchasing a car before you purchase a car there's approximately ten things you need to know before you sign anything as far as commitment to purchase the car and most importantly sign the last documents with the business manager finance manager whoever the case may be the person that make me takes your downpayment all that stuff before you sign anything with them these are things that you need to know like said there's about ten of them so we're gonna start off with the MSRP you're gonna typically find this from your car salesman and you want to make sure that when you have a documents that he has shown you all the information so that way he can get you to say yes to buying a car this matches up with the true and factual window sticker of the car that you either see on the car which I recommend taking a picture of or sitting there and having it with you before you come to the dealership you can typically get window stickers on new cars off line if you're looking at a used car you want to make sure that you have the list price available to you if you're looking at CarGurus true car Edmunds anything like that they're gonna tell you if that list price is a good deal or a bad deal and nowadays you typically can't negotiate that price it's pretty tough to do it because we have to set there and put our best price out there so at two o'clock in the morning you call us and/or you touch text us and say hey listen I'm when interesting to see if you have this car available not so MSRP list price is the very first thing on a new car you want to make sure that you understand the discount you want to understand this you understand the dealer discount not the rebates you want to understand those broke out you want discount and rebates broke out separately so that you understand what they are so discount and rebates are very important to understand at that part so now what you have is your gross selling price this is the price that you pay before any types of taxes trade ends stuff like that so now that you have that out of the way that you know exactly how much you're paying for the car you want to find out what your trade is worth if you have a trade if you have a trade you want to make sure that we get what's called the a CV the actual cash value of the trade now the actual cash value is what the dealership will write a check for you for there's actual cash value and in allowance we've done videos on this before you want to make sure that when the dealership tells you your trade value that hey listen will you write me a check for this amount right here I found a car that I like a little bit better at ABC dealership I'm gonna go over and buy that one but I like your trade value better will you write me a check for that if they say anything other than yes this number is fake made-up and they're virtually lying to you so after we have those numbers there we have what's called the difference price this is the price that everybody usually asks what would my difference be this is all of those numbers subtracted up their MSRP minus the discount minus the trade at a cv is your difference price so this is everything before taxes and fees and stuff like that so that goes into our next thing we want to know exactly what our taxes are and we want to know what our state and local fees are so this could be state this could be local this could be dealership so everybody does these a little bit different so we want to know what all those fees are and those could be broke up into several different categories in several different lines on that information sheet but what we want to know is exactly what those are so at that point we have our bottom line on the vehicle so if you don't have a payoff on your trade this is exactly what you're going to write a check for if you're not putting any money down exactly what you're financing so on and so forth but let's assume that you have a payoff on your trade most people who trade in cars do in fact have a payoff so at this point this is where your payoff is going to be factored in so now at that point we have our net price this is all in this there should be no other cost no other fees no other dollar amounts the dealership should not come back and say oops we forgot this and if you write this down and if you look down in the description below there's gonna be a little worksheet that you can download and get all this stuff and you can write this down in a 10-step simple form based off the information that you have at your dealerships so all of that right there is extremely nice now I'm gonna show two things on the screen here this right here you never want to see from a dealership if a dealership shows you this this is called a Foursquare if a dealership shows you a Foursquare you in a nutshell say hey listen I want to see this you hand them my worksheet that I shared with you that you downloaded this is what I want to see I don't want to see anything other than this right here and most importantly if they won't do that you say thank you I appreciate it appreciate your time you get up and you walk out the dealership you do not negotiate dealing with anymore you go find a different dealership and so on and so forth because they are trying to scam you there's four parts to a car deal as you see on here you have the vehicle price they have the trade value that the money down and they have the payment those are not to show you the ten things they want to show you this they want to show you this and that's all they want to show you on that the payment and the down payment we don't know how those things are figured on a different video I talked about Silverado pricing and what the payments are you can go watch that one but you can figure out your payments based off of that this is what you want to see right here this is an actual worksheet from my dealer and it's shown everything down the line just like I mentioned there and most importantly it shows the payments as well now you're gonna see that $10 swing on payments there's some federal red tape that we have inside the dealerships that do not allow us to quote actual payments until we submit it to the bank it's a catch-22 we can't submit your credit to the bank until you decide that you want to buy the car and we know all the pertinent information we know that you have a payoff we know that you want to buy the car we want to know your money down that's the information we have to send over to the dealer or to the bank so that way the dealership can get an approval on your car loan so this form here is really for informational purposes only and that's why there's a ten dollar swing on it now when your figure and payments at home understand that they may be a little bit different because the dealership may be conservative on stuff but keep that in the back of your head that you've figured your rebates or your payments at home and keep that in the back your head and usually bring that up with the finance manager not the salesperson because I can't answer right questions until the finance manager switch your credit so let me show you one more thing all right so here are some number scenarios that I want to show you so do you remember what these are based off of what I just showed you probably not that's okay that's why there's that worksheet down in the description below that you can download so that way you can fill these in now this is gonna assume that we do not have a trade so this would be the list slash selling price of the vehicle this would be your trade deducted so this would be your difference price this right here would be your text now I want to warn you something on tax you pay tax based off of where you are titling the vehicle not based off of where you buy the vehicle now if you live in Oklahoma and you're buying it from me you're gonna pay tax in Oklahoma now the dealership may collect Oklahoma tax and send it to them on your behalf that's completely normal but you want to make sure that the dealership is collecting tax for the state you live in and the state that you're going to the vehicle in Illinois I'm not sure when this is gonna start happening but Illinois you are getting double dipped if you live in Missouri if you live in Indiana be live in Kentucky you live in Michigan and you buy Wisconsin you buy in Illinois you were gonna pay Illinois tax and then you go back and you have to pay your state sales tax where you live so be careful in Illinois there I don't know if there's any other states out there like that but there are states out there that do double dip you on tax so make sure you ask that question up front so this is our difference prices I just mentioned these are all of your fees with my case with my dealership this is the dealer fee this is the Kentucky Title fee and lien processing fee and then the 16 277 is your net price again you can get all of this information checked off and made on that worksheet down in the description below so that way you can go in and understand what that is I would say print off three four or five of them I made this into a PDF so you can use it in a PDF viewer and kind of type in on your iPad or your phone or anything like that so hopefully that stuff will help you be well informed and have better buying power when it comes to walking into the dealership and buying your car all right guys well hey I want to say thank you so much for watching again make sure you hit that subscribe button we want to get to 1 million 1 million subscribers almost start my marker I'm really good at flipping his pin up and down I hit the ceiling that time but I want to hit the 1 million subscribers I want to do it as soon as as soon as I possibly can I want to have a lot of fun in this channel I want to bring you guys along with me so as always hit that subscribe button turn your Bell notifications on you leave a thumbs up leave a comment down below telling friend about my channel and I hope you have a great car buying experience as always thanks again for watching have a great day and drive safely [Music] [Music] [Applause] [Music]

Channel: Chevy Dude

Views: 148,488

Rating: 4.9515858 out of 5

Keywords: how to buy a car, car buying tips, how to buy a used car, buying a used car, car buying, buying a car, buying a new car, used car, what to look for when buying a used car, how to buy a new car, used car buying tips, car advice, buy a car, automobile, how to finance a car, scotty kilmer, chevy dude, car buying guide, how to, cars, what to look for when buying a car, car

Id: lzeFh97QDOo

Length: 13min 21sec (801 seconds)

Published: Mon Oct 28 2019