If a Car Dealer DOES THIS, LEAVE IMMEDIATELY | 5 Red Flags

pops you spent 40 years selling cars i want you to enlighten us really quick what are the red flags give us maybe i don't know two three four five red flags that if a car dealer did this to you and you were buying a car you would walk out and you'd say i'm not doing business with you guys what are they oh well the first red flag would be if the salesman says to you well before we can go for a test drive i'm either going to need a deposit or a credit application they need neither okay they don't need a deposit for you to test drive a car and they don't need to know what your credit score is for you to test drive a car they need to know what your credit score is when it's time to try and get you a loan if they're the ones that are going to try and get you the loan so right there at hello those could be two of the red flags that you're that that would pop up um another would be um well do you have a trade okay give me the keys to your trade and i'll get it appraised why we're well we haven't decided whether or not i'm trading the car um if their advertised price that brought you in is less than what they now tell you the selling price is there's another red flag yep you're getting up and walking out um no i'm running i'm running buddy i'm i'm going to show them my best hundred meter sprint okay okay yeah and i hope that they don't have any former football players they're trying to tackle me on the way out um so right there those are some of the red flags that you're looking for if you get into structuring a deal with them and and they quote you payments yeah and and the payments they quote you at a specified term whether it be 48 months or 60 months or 72 months at a specified interest rate with a specified amount down but the payment they quote you is is in a range that's what we call the business payment packing which is illegal because at a specified term with a specified selling price with a specified amount down on a specified interest rate there's not a spread in the payment there's a payment okay um and then if you're looking at a pre-owned car yeah and they want to charge you a reconditioning fee well i'm sorry that's a cost of doing business that should be factored into the asking price of the vehicle so any dealership that would resort to that type of tactic that's a red flag and once again i got my sprinter shoes on and i'm not even waiting for him to go ready set go yeah i'm i'm just ready yeah i'm ready to go so there's five red flags just right off the top of your head that if those came up you're in the dealership you're saying alright i'm getting out of here are there any that come to mind like even as you're perusing online like i'm just wondering like for example when you go on a website and it says like call for pricing i guess that's not a red flag i mean it's it's a competitive well that's because sometimes there are some dealerships out there that that feel as if uh in order to compete that you have to advertise the lowest price and the lowest price often with the really tiny print that well nobody could read um would explain why it's as low as it is um so some dealerships don't want to play that game so they they don't want to list the price okay um and then when you call for a price they're not going to give you a price they're going to try and set up an appointment for well when can you come in yeah you know the sad reality is is if dealerships actually answered customers questions and were actually transparent in their pricing um eventually enough people would realize it and would just do business with them but they're too afraid to do that definitely all right so that's a yellow flag so we got five red flags one yellow flag why don't you leave us with one green flag what's one thing you look for if you're buying a car well if if for instance there are dealerships out there that that are negotiation-free type stores the price is the price the price that they indicate online is the price um they will let you complete the entire transaction online if you'd like and they will even ship the car to you that's a green flag i've got one more red flag that popped them up okay but but so there are dealerships out there that will do that and there are dealerships out there that won't charge over msrp on new cars on new cars so so those are some of the green flags that i would look for one more red flag that just popped in my mind want your feedback on it if i have to buy the extended warranty to get the interest rate that you quoted me if i have to buy the tire and wheel protection to get that's illegal and it happens all the time and it's a red flag yes yes and and that red flag is that the finance managers is playing with the interest rates in order to be able to sell the products that he or she needs to sell in order to maximize their pay plan all right let us know in the comments down below what red flags you've experienced or you've heard of well maybe you get my dad's reaction to them and again back at joinya.com we are here to help you navigate this process it's incredible that it's still as difficult as it is as it is but it's keeping us in business baby we'll be we'll be doing this free for centuries i hope not all right thanks pops appreciate it as always bye-bye

Channel: CarEdge

Views: 2,828,911

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Id: 0zM0iT_KCtU

Length: 5min 2sec (302 seconds)

Published: Wed Mar 16 2022