Comments on: How To Buy A Car (Without Getting Screwed)

By: Mike R

Mike R — Sun, 23 Oct 2011 18:34:10 +0000

Funny video. Unfortunately there is a lot truth to the sales process that Rob talks about. A lot of dealers are still trying to sell cars the way they did for the last 20 years. The internet is changing the process for how we buy cars. Thank goodness.

By: Jim

Jim — Fri, 19 Feb 2010 22:09:45 +0000

Hello,

I was just wondering, how many cars has Rob bought in his entire life. Alot of what he is saying might have been the way to go about things back in the old days. But there has be one huge event that has changed the car buying process forever. It is called the Internet. Most consumers has access to a variety of sources via the web that should give you the right tools in buying a car. Also the lasted time i checked i didnt know that your bank or a credit union offers 0% or a special rate like the dealerships offer. Odds are if you are looking into buying a new car, most make and models have those special rates.

By: Jim

Jim — Sun, 05 Apr 2009 15:02:51 +0000

It’s probably a little of both.

By: steve w

steve w — Sun, 05 Apr 2009 14:47:34 +0000

does anyone know if a fuel surcharge on a new car is legit or a dealer money maker

By: tom

tom — Thu, 22 Jan 2009 20:31:51 +0000

Heres a major problem I see today. People go out to buy cars they cannot afford. When i say afford I mean, if shit happens, they have no funds to pay off the balance.

Plus the car is depreciating in value and it is not an asset.

See you should listen to Robert Kiyosaki about what he says about assets and money. With his information, it has changed my perspective on money a lot.

By: Lee

Lee — Tue, 20 Jan 2009 04:13:32 +0000

Sure, get pre-approved for financing from your bank, but at least be prepared to listen to the financing options the dealer has.

Dealerships have access to literally hundreds of banks and financing options available to them. And they will want you to finance through them as this is one of their revenue streams and the customer stands to benefit from it.

By: tom

tom — Mon, 19 Jan 2009 21:29:49 +0000

Hey Steve,

The dealership may have better rates but how about their track record. There is enough shady dealers out there, so you don’t necessarily want to get stuck with that.

At least for me, the bank may usually seem like the best option because of the relationship with them, trust and track record.

Just my thoughts.

By: jim

jim — Mon, 19 Jan 2009 20:56:46 +0000

Well obviously you want to check the rates and be smart about it but most banks will beat most car dealers.

Then again, lots of dealers are offering 0% and you can’t beat 0%.

By: Steve

Steve — Mon, 19 Jan 2009 20:46:48 +0000

Good tips except for the “get financing from your bank.” I work for a bank and our car rates are terrible. FAR FAR higher than car dealerships.

By: Jeff Lehman

Jeff Lehman — Mon, 19 Jan 2009 00:34:11 +0000

First of all…don’t buy a NEW car. That’s insane. The smart money buys good used cars with some warranty left on them. Lease returns and certified-pre-owned cars are a great bet…and often have better than new warranties.

If you must buy new then do so at your own financial risk. Before you go to the dealer see how much a 2-3 year old version of the new car you are looking for is selling for. Subtract “new” from “used” – that’s how much money you will be leaving on the table if you buy new. Just humor me and do the analysis!

Also – If the car you are interested in is in it’s first year of production don’t even think about buying it until they get the bugs out. Trust me on this no matter how well made cars are today!

They guy is funny, but I don’t agree with all of his points.

1. Have you seen that some dealer/manufacturer interest rates are zero or .9% lately? I don’t think a bank is going to offer that kind of rate. Definitely shop around on rates for used cars.

2. If you live in a state that allows you to deduct the value of your trade-in from the cost of a new car and save on sales tax then you better know how that would affect your deal. Everyone thinks their trade-in is worth more than it usually is. Make sure you check with kbb.com and autotrader.com to see what people are “asking” for cars in your area. Knock about 10-15% off that. Do the math, it might be better to get rid of your car than trying to sell it and pay insurance on two vehicles until you do.

Do a lot of homework before you step foot into a dealership and it won’t take you two weekends and all the theatrics.

By: Aman@BullsBattleBears.com

Aman@BullsBattleBears.com — Sun, 18 Jan 2009 22:00:57 +0000

those are great points. Esp on the selling. Also, when looking for a new car, always look at the cost of ownership. Just because a person can afford the lease payment on the new Lexus, might not equate when insurance, gas, maintenance, etc is factored in. check out my blog post if you get a chance! regardless, great post.

By: SimplyForties

SimplyForties — Sun, 18 Jan 2009 21:21:51 +0000

I spent a year or two selling cars and I would add one thing to take into consideration about trading in your car as opposed to selling it to someone else and using the money for your downpayment. The total amount upon which you are taxed on the new car is figured after your trade-in amount is subtracted, but before any cash downpayment is made. So, if you have a trade-in your tax will be lower than if you don’t have a trade-in. Just something to figure in to your calculations. Additionally, if your trade-in is a real junker that isn’t worth anything, the dealership may give you more for it than anyone else.

By: Mrs. Accountability

Mrs. Accountability — Sun, 18 Jan 2009 21:08:13 +0000

I had a friend tell me about a dealer once that took his car keys and threw them up on the roof of the showroom to keep him there longer! I went through my credit union last time and was very pleased with their car finding service. They found me exactly what I wanted, and I still have the car 7 years later. I love my Pathfinder.

By: Bert

Bert — Sun, 18 Jan 2009 20:48:32 +0000

I just bought a 2009 Toyota Camry from Boch Toyota (Boch.com) in Norwood, Massachusetts. I followed a lot of the things mentioned in this article, especially getting the “Get the “drive it off the lot” price” from Consumer Reports for $14. It was well worth it. I paid $70 under dealer cost and they delivered the car to my town’s DMV (Dept of Motor Vehicles) to transfer plates. But before that I went to three different dealers in Connecticut (my home) and priced/test drove three different models. Doing your homework is well worth the time as I saved at least a $1,000. Just a side note, I didn’t want to buy a new car but my old one was totaled after hitting a deer. I guess it was my Karma to buy this car.

By: tom

tom — Sun, 18 Jan 2009 18:28:55 +0000

This was a great video, funny but very informative. thank you