Deal Talk: Recent Episodes
Geoffrey Jerome Veit
Advice on buying a car, truck or motorcycle. How to save money and avoid the hassles when purchasing or leasing a vehicle. Information about every aspect of an automotive purchase. Financing, trade-in value, advertising and many other topics.
Luxury vehicle buying facts
So many Electric-Vehicle issues
EV price range does not change the risk
80% mote problems
Blood batteries
Grid-Serve Charging network raises the cost to charge a vehicle
What qualifies a vehicle as luxury
Safety is the best
The latest High tech
Resale is still #1
Power and quality
More affordable then you think
Leases are best by far
Due diligence requires same techniques
Each issue is thousands
Trade shopping is even more important
OTD, CPI the same
More polite but not your friends
Used Car-fax or Auto-check
Flood check on used
The dealership F&I hurdle
F&I to finish the deal
Tesla 2 million recall
Electric vehicles fires galore
Consumer report confirms electric vehicle issues
Price savings for 1 years of fuel
Current charging station additions be the fed….0
F&I profits are way up, what should you do?
When things are this crazy, if you can, wait
How to process F&I aka business office
Forced pitch from F&I, get up and leave
Business office and sales are separate
CPI to stop payment packing
Delivery after bank approval
Dealer finance reserve is the biggest profit potential for the finance office
Bank shopping pre dealer visit is paramount
No to everything can be as bad as yes, listen to the pitch
Geographic add-ons help resale
OEM add-ons
Always request the manufacturer of the vehicle’s extended warranty
F&I is shop-able for most products
Make add-ons part of the due diligence
Read all the numbers in your paperwork, especially the fed boxes
Don’t be conned by the Electric Vehicle story
Hybrid or full, they have a battery
What are the limits?
What about trade values?
Charging takes time, lots of time
No charge? What to do
Fossil fuel taxes pay for roads, how will EV’s be taxed?
Crash safety is important?
Fire safety is paramount
We need the minerals that are not here
Find a power source
Electric fuel can cost as much as gas
Will the monopoly of electric sources raise the rates?
The cost difference in new electric vehicles is huge.
Maintenance happens on all vehicles
Battery versus tuning, $
Are electrics a planned obsolescence?
Who can fix them?
Resale is a guess but my bet? Poor
Poor resale makes them 40% more
Environmental facts vs exaggerations
Cost difference buys 15 years of fossil fuel
What if you have limited time to make the purchase?
Distance on EV is still an issue if you use accessories
Most common models are $2000 more for Electric
Fire departments train for EV battery fires
Rush Rush Rush to buy
Consistency means resale
What was missed
Time well spent
Due diligence rush
Phone and Internet
Is one-price a choice?
One day, the whole day
Be assertive, not aggressive
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
What you should do to get the most out of your vehicle
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Various medias say EV‘s are tanking
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More and more EV fires
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Price difference and depreciation could be $40,000 or more
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Rates are up so credit comparison shopping is a key
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Both rate and terms
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Which method, trade in, sell to a dealer or sell outright
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No matter what you trade in or sell, Recondition as much as you can
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Know why you are selling, they will ask
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What you should verify and know
10.Retailing pays
11.Preparation is the same
12.Know what you are trading
13.Deal first, trade second
14.Getting all the resale out of yours
15.Small investment, big return
16.No matter how old it is, prepare
17.Trade payoff planning before it is a problem
Due Diligence research completed? Now what?
EV sales are not up
The public is aware of Electric vehicle Fires and deaths
Manufacturers are hurting from EV failure
Great negotiating requires great due diligence.
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Don't acknowledge the asking price
Always ask for a better price at least twice before making an offer
Talk what you know after they make 2 offers
Assertive, not aggressive
Hold your lips together tightly as the dealer plays his cards
Don't take the dealership’s position or attitude personally
ACV versus allowance.
Either way works but one at a time works best
Due diligence is your ammunition.
How to overcome automotive credit issues
Solar is better than electric but it also has issues
Trucks are not feasible as electric
Safety has become a key issue
Battery fire death numbers are high
Inflation oozes into vehicle interest rates
The banks, more risk, more rate
Know your budget and stick to it
Down payment isn’t a lock
Employment offers and testimonials help
FTB, finance first, buy and negotiate second
Don’t give up
Shop every bank
Financing has many sources
Referral letters will help
Cosigners are the best answer
Recourse dealers
Improve the risk
Buy here pay here may be the last choice
Dealers and the news, now it’s all fake
Colorado crazy trade doesn’t help
65% won’t even look at EV’s
Battery prices have dropped to ridiculous
Ev ads and the news are fake
Bait and switch
Switching stories
Ridiculous trade values
Guaranteed payoff is a hoax
Rebate tricks
Employee pricing, means what?
Disclosures
Plus everything
Radio, newspaper, magazines, TV, social media,
Government ads for Green new deal support
FTC will help eventually
Not a single number is factual
A dealer’s ads indicate their ethical character
Due diligence will protect you
Still OTD and CPI
Due Diligence means what?
Hybrid low down
Electric Bus goes belly up
Due diligence is omnipotent
2022 Consumer Report has a great ratings section
Brand tells the story best
Great deals have no short cuts
Knowing what comes first
Use all the price calculation methods for used
Use the Monroney label for online comparison of new
The internet's only value is information but it must be real
Get the facts and leave the rest.
Beacon scores
Bank rates and terms at least 4
Internet quotes or however possible
Assertive not aggressive
Shop dealer installed accessories before the deal
Chose a few dealers
Compare amenities from dealer to dealer
Go in armed with the facts. There is no substitute
One price, fixed price, haggle free, only benefit the dealer
Part 1 and part 2 used review
Make a quality segment chart
The one price stories
There are no special deals just special methods
Why are one price techniques uesd
Cut the dealer ‘s expenses
Enhance the profits
It’s not about customer satisfaction
2+2 is not 5
No haggling does not mean a good price
Ho Hum prices at best
Shorter sales process, longer F&I time
Don’t let your guard down for a second
Negotiating is better for the customer and their satisfaction
One price gives a dealer higher profits as a whole
No matter what they say, haggle anyway, or move on
Buying used part two
Dealing on medium and low priced used
EV market is dropping around the world
Used vehicle Monroney style labels are worthless
Get the original Monroney copy
So many new vehicle tricks and gimmicks, go used
Inexpensive is many things
Used vehicle categories are different
Priorities have a number
Like everything, pay more, get more
Many ways to save
Clear title is always number one
A check list to follow
Low dollars are low value
Banks always play a part
Junk is just that
Why was it salvage
AS IS describes current condition
Salvage title means brought back from the dead
To do's for buying lower Priced used vehicles
Top scientists down play the CO2 story
Climate crazies want to cancel stoves, light bulbs, large houses, cows,
Due diligence on a used is different
No Monroney for equal comparison
Resale is just as important
You need wholesale and retail prices
Use all the pricing guides
Call for quotes
For exact options you may need to buy more
Special reports will help, like CR
What are the keys
What difference does the dealer make?
Check for flood signs
More due diligence
Check the banks, there are more variables
They will call if you walk
OTD or CPI, always
Cash pressure on the non-dealer only
Trade works the same as new
CPO is not a deal
Things that always apply
Skip the fake EV maintenance story
35 % more fatalities
Crash tests are required reading
Short cuts to dealing
The major points list
Some do’s and some don’t’s
Always test drive
Test driving? No pricing
Out of time
Three choices as I see it
Sometimes what not to do is just as big
Take time for Due diligence
Avoiding mistakes
From basic to not so basic
Leasing adds to the list
The electric story
Dangerous Ship fire at sea can’t be extinguished
Green new deal is a trap
Mother nature has a plan
Reviews and reports on electric
So Many reasons to say NO
The resale facts are huge
Demand is down
Deceptive charge station numbers
CO2 isn’t a story
Battery warranties at 70%
They cost more, a lot more
The cost of ownership is more
Convenience has value
Price, distance, time, safety
Save enough to drive 80,000 miles
Government pressure is always bad
Protect your credit before there is an issue
EV issues are many
Battery warranties for 70% or lower
Battery average 5-15 thousand
68% fear autonomous
Protecting credit score
Score factors
Reset the budget
What are the questions you need to research?
What hurts credit
Too much buying power
End the extra credit
Communication is king
Ask all sources
Peter to Paul
Timing is huge when buying a vehicle
Electric distance is wrong for so many reasons
Electric vehicles throw off the average, way off
My trip proved a lot
Traveling with an EV, you are totally on your own
When can make you a winner
Day, week, month, time of day, all matter
The Weather can change timing
Holidays can help
Last day or the 32nd
Afternoon calm
Hot just like cold
Current, left over, late model used
When not to buy, like right now
Leasing times are similar, except now
Extended service plan, yes or no? What else after the sale?
Assuming good condition
Extended service plans are not warranties actually
Condition and care tell the story
Warranty price plus the deductible are the first repair
Extended warranties are a question
Extended warranty does not add in the trade in value
Keeping it? Yes
If buying a extended service plan, always from the Brand
With a warranty fix or trade is never a question
Low repair record equals high resale
Make sure you got what you paid for
Check everything after the delivery as well
Check all paperwork numbers
Is everything there?
Read the manual and if needed, get one
Used, change fluids
Clean it, if from an individual
Get all the carry on adds
Do the protections like sealant
Set up maintenance record
Air tag or tile
Better offer after you purchase? Always ask for more
Resale is the key factor
Batteries require special metals
Batteries store coal power
500,000 pounds to move
CO2 is NOT the answer
Tax credits mostly for the rich
Resale value is always part of your cost
A seemingly good deal might be the opposite
Considered the least
Around the clock
Can you predict it?
What determines the value?
How to protect it
There are many factors
Brand can be big
Think it through first
Negotiating your deal
When is it time to say yes?
Negotiating is part of every episode
Many methods, varied results
Knowledge is key
Due diligence support
Waiting for results
Can you do better?
Persistence
Deal and trade separate if possible
Talk when there is a need
Offer and facts together
You may need to walk
No substitute for due diligence
Prepare yourself for the Business office experience
Electric vehicles CO2 is NOT the problem
Congress is buying EV stocks and then pushing them
3 trillion trees
37 billion vs 74 billion capacity
F&I as a conversation
Business office money
Reserve commissions can be huge
Be prepared, due diligence
Myriad of products
Every product can appeal to someone
Payment packing is real
How to guard
F&I Menu approach
Review you payment in the business office first
90 day bump
Listen to the products info, it might be good for you
Shop the F&I products before you go into buy
The more you know, the less their advantage
· Residual is important
· They are burning
· EV sales are not up
· Diminution payments are real
· Insurance pays resale loss?
· EV insurance is not good news
· Car, truck, motorcycle, motorhome or boat, Insurance is part of the process
· Auto collision insurance is just another add on
· Just because they sound cheap
· Hundreds of companies, millions of quotes
· Credit is the key
· Your driving record isn’t the number one factor
· Loyalty?
· Teen dollars
· Bundling means nothing
· Where are the discounts?
· Shop Your insurance
· With an inexpensive vehicle , do you need collision?
Piloting crazy ads, in a crazy market
67% is a 1000% increase
A tyrannical demand
Toyota has made a good choice
190 years and it is still not right
A super car seat deal
Automotive ads explained
Crazy ads are even crazier
Disclosures that don’t help
Vague is the norm
Radio, TV, newspaper, socials
Bait and switch
Employee pricing
Crazy trade values
Surprises can be thousands
Ads only indicate dealer character
It doesn’t get better, it’s a culture
Look for dealers that advertise what they offer other than price
Deal problems have a plan
Electrics have serious cold weather battery issues
No jump starting with EVs
Not a family vehicle
Jump start tip
If your deal has a problem
Factory problems follow a plan
Due diligence, due process
Follow the Chain of command
Salesperson, Manager, Dealer principal or GM
Manufacturer (Company.com) and the bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC (federal)
UDAP statutes will help
Attorney last
Still no lease buy out relief
Assertive and persistent, not aggressive
What is a factory certified pre-owned vehicle
Electric used is worse
Brand is the key factor in choice
CPO vehicles and value
Read all the material for a specific certified unit
Check points sound huge but
Just marketing another way
Bank rates with CPO vehicles are the same
Factory certified can cost several thousand more
Why pay in advance for what might happen
Low mileage and a clean car fax
Only the brand can certify the brand
The retail book value does not have an add on for certification
Certification versus resale value, zero
Sometimes the promises lower your guard
Certify your own and save big
Electric versus gas facts, you decide
Pro is a short list
EV’s cost many thousands more
Resale will be less making the effective cost of ownership even more
Green new deal crazy
Reviews and reports on electric
Hybrid
Plug in hybrid
Total electric
The resale facts
Cost benefit ratio is High cost low benefit
1 Kw = 4 miles average
Weight vs distance
32 Kw for 100 miles
Kw’s cost between 25 and 50 cents
Gas isn’t that much different
Convenience has value
Price , distance, time, safety
The most recent concern Safety
Building batteries is a crazy program
The story on Upside down, aka under water, aka minus equity
Any list of quality brands, just use the top half
Rate price, resale and repair record first
Large wheel size usually doesn’t help you
Under water, minus equity, upside down
What can you do?
Why does it happen?
This market may have an opportunity
Type 1 and type 2 upside down
Due diligence
To minimize minus equity
Start with the right vehicle
Eight tips for the future
Should you keep and fix your current vehicle or trade it
Leasing and buying have different priorities
What are CAPA stickers
The crazy market can change plans
How old is yours
How does you vehicles future look
You need about 2 more years
If you must buy search outside of your market as well
Forced savings for a new project
Limit resale loss
Short term lease, maybe
Ask yourself the right questions
Keep your old one could lower insurance cost as well
Reviewing the dealing tips
Electric shoe box with wheels $30,000
A fancy Corolla size $150,000
Problems are definitely an EV subject
Processes vary but the basics are the same
Having the info is key
Getting the payment where you want can be a mirage
Trust but verify
The work sheet is your friend
Used vehicle checks must be thorough
Leasing has rule changes, ask questions
Read what you sign
Bike buyers don’t be an impulse buyer
Finance in the extras if you can
Motorcycle buying tips and a gas saving list
Who knows where gas prices will go?
There are many ways to save on fuel
Do as many on the savings list as possible
A little, plus a little, plus a little, equals a lot
Motorcycle buying is not as crazy as many markets right now
Ask yourself the right questions
Touring, sport, long, short?
What culture?
Insurance can be a huge factor
Due diligence could be a bigger savings than a standard car
Due diligence is the same
Dealers can vary by huge numbers
More for you to check on a used
Avoid electric bikes
The current story on leasing
- Where will we get the materials for batteries?
- Many industries will be competing for those materials
- EV sales are on a downhill slide
- Leasing advantages list
- Different terminology
- To shop lease you must know the terminology
- Research is still key
- Closed end
- Open end
- No maintenance
- Divide or multiply by 2400 for the interest rate or the lease factor
- Acquisition, inception, termination
- Guaranteed resale value is wonderful
- residual
- sign and drive
- Wear and tear
- Annual mileage allowance
- Term is best 36 months or less
- Trading elsewhere is still a question
A Quick list for used vehicle buying
Hold off a bit longer if you can
A dozen ideas out of 100
Shopping before any price talk
America is angry
Pricing is still crazy , thanks Joe
Get your sea legs before you talk price
Complete bank info
Trade in info
Get your price range
Just worry about product comparison
Negotiation is always after due diligence and that’s after product
What to consider when buying a truck
EV Tesla loses 182 billion
EV sales are off and Companies are teetering on losses
Like I said resale issues, another 15%
Now trucks are more than trucks
Resale and discounts don’t mix
High current market will cause huge resale losses
The market remembers
Pickup box size matters
Transmission and resale
Engine, bigger is usually better, even now
4x4 = $x$ Keeps on giving
Know exactly what you need
Factor needs vs resale
Finance dollars are a bigger factor
Used truck market is nuts
Carfax
Check for Flood even more so
Now is not the time to buy, not yet
If you must buy, low price equals smaller long term loss
Electric vehicles have a long history of trying
Before fossil fuel
When is enough, enough?
First hybrid a long time ago by who?
Number 6 Manufacturer
There are things to do preparing for the long hall
Make sure you got what you paid for
Check everything after the delivery as well
Check all paperwork numbers
Read he manual or if needed, get one, even the keeper
Used, change fluids
Is Vehicle climate change the chicken or the egg?
Clean it
Get all the carry on extras
Do the protection
Set up maintenance
Air tag or tile
Keeping it, Prepare it for starting over
Understanding the sales labels
The carry long list could save you
Ev ‘s don’t save you a nickel, ever
Monroney is the one that matters
Get the right information
Double Monroney label con
What can a Monroney label can tell you
It’s part of the diligence
Lots of extra info
Other add on labels
Look alike factory label makes a used seem new
Buyers guide required
Used labels for equipment only
MSRP for proper comparison
Monroney labels.com for a copy of the original Monroney
OTD is all that counts
Luxury considerations
What qualifies as Luxury ?
Safety is paramount
The latest High tech
Resale is still #1
Power, quality, technology
EV lots of luxury models
More affordable then you think
Leases are best
What affects luxury resale
Due diligence is required
Luxury uses the same techniques but they are worth more
In person please
Each issue is thousands
Trade shopping is even more important
Enough quotes?
OTD and CPI are the same
More polite but not your friends
Used Car-fax or Auto-check
flood check
Handling the F&I /business office experience
Tesla discounts coming down to about 55000 OTD
Still a small percentage of the market
Shorter life span more sales for the dealer
F&I profits are way up, what should you do?
When things are this crazy, if you can, wait
How to process F&I aka business office
Forced pitch from F&I, get up and leave
Business office and sales are separate
CPI to stop payment packing
Delivery after bank approval
Dealer finance reserve is the biggest profit potential for the finance office
Bank shopping pre dealer visit is paramount
No to everything can be as bad as yes, listen to the pitch
Geographic add-ons help resale
OEM add-ons
Always request the manufacturer of the vehicle’s extended warranty
F&I is shop-able for most products
Make add-ons part of the due diligence
Read all the numbers in your paperwork, especially the fed boxes
What if you have limited time to make the purchase?
Electrics when it’s cold weather
Power drain is much faster
Check rating in 3 or 4 stories
Consistency means resale
What was missed
Time well spent
Due diligence rush
Phone and Internet
Is one-price a choice?
One day, the whole day
Be assertive, not aggressive
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
What you should do to get the most out of your vehicle
- Multiple charging methods that ALL take time
- Rates are up so credit comparison shopping is a key
- Both rate and terms
- Which method, trade in, sell to a dealer or sell outright
- No matter what you trade in or sell, recondition as much as you can
- Know why you are selling, they will ask
- What you should verify and know
- Retailing pays
- Preparation is the same
- Know what you are trading in
- Deal first, trade second
- Getting all the resale out of your vehicle
- Small investment, big returns
- No matter how old it is, prepare it
- Trade payoff planning before it is a problem
Other used vehicle choices during these crazy times
Time is money. Follow the plan
Charging stations and unit numbers are big difference
Average deal price goes up in a down year?
Off lease check it more
Rentals mean poor servicing
Rental car deals….Not!
A lease is not a rental
They are not worth more, just the opposite
Repos maybe OK
If you are looking call your banker
Flood may be a bigger consideration on rental, repo and lease
Flood can be invisible
Odometer laws are federal
Always get a mileage statement
See the title
No credit, bad credit, how do you borrow?
Battery development is the key issue
Turn the battery into the frame
The harder to fix the shorter the life span
Inflation oozes into vehicle interest rates
The banks, more risk, more rate
Know your budget and stick to it
Down payment isn’t a lock
Employment offers and testimonials help
FTB, finance first, buy and negotiate second
Don’t give up
Shop every bank
Financing has many sources
Referral letters will help
Cosigners are the best answer
Recourse dealers
Improve the risk
Buy here pay here may be the last choice
The Electric Vehicle Hoax
A review to avoid being pushed
Electric vehicle types?
Hybrid
Plug in Hybrid
Total Electric
What are the limits?
What about trade values?
Charging takes time, lots of time
No charge? What to do
Fossil fuel taxes pay for roads, how will EV’s be taxed?
Crash safety is a concern?
We need the minerals that are not here
Find a power source
Electric fuel can cost as much as gas
Will the monopoly of electric sources raise the rates?
The cost difference in new electric vehicles is huge.
Maintenance happens on all vehicles
Battery versus tuning, $
Are electrics a planned obsolescence?
Who can fix them?
Resale is a guess but my bet? poor
Environmental facts vs exaggerations
100,000 mile fuel cost difference
Is your research done? Now what
EV corner
The entire issue is blown out of proportion
You can’t put products before the science
Great negotiating requires great due diligence.
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Don't acknowledge the asking price
Always ask for a better price at least twice before making an offer
Assertive, not aggressive
Hold your lips together tightly as the dealer plays his cards
Don't take the dealership’s position or attitude personally
ACV versus allowance.
Either way works but one at a time works best
Due diligence is your ammunition.
The what and why of due diligence plus EV corner
Electric vehicle charging levels
Charging improvement means more $
Each electric company area could be a monopoly
2022 Consumer Report has a great ratings section
Brand tells the story best
Due diligence is paramount
There are no short cuts to good results
Know what you want first
Used price calculation methods for used
Use the Monroney label for online comparison of new
The internet for some of today's information but not buying
Get the facts and leave the rest.
Beacon scores
Bank rates and terms at least 4
Internet quotes or however possible
Assertive not aggressive
Shop dealer installed accessories before the deal
Chose a few dealers
Compare amenities
Go in armed with the facts. There is no substitute
Dealer advertising is like the fake news
F150 is just 150 miles loaded
Where is the Lithium?
A plan for better MPG
Bad ads = bad experience
Bait and switch
Switching stories
Ridiculous trade values
Guaranteed payoff is a hoax
Rebate tricks
Employee pricing, means what?
Disclosures
Plus everything
Radio, newspaper, magazines, TV, social media,
Government ads for Green new deal support
FTC will help eventually
Not a single number is factual
A dealer’s ads indicate their ethical character
Do diligence will protect you
Still OTD and CPI
EV news plus one price dealers
Twenty eight thousand ?
Electric is often missing all that is needed
Big organizations make mistakes but can afford to
The one price stories
There are no special deals just special methods
Why are one price techniques uesd
Cut the dealer ‘s expenses
Enhance the profits
It’s not about customer satisfaction
2+2 is not 5
No haggling does not mean a good price
Ho Hum prices at best
Shorter sales process, longer F&I time
Don’t let your guard down for a second
Negotiating is better for the customer and their satisfaction
One price gives a dealer higher profits as a whole
No matter what they say, haggle anyway, or move on
What to do if you purchase a problem vehicle
The FTC is increasing their rules for dealers
Does it really help or just increase prices
Electricity costs are going up…fast
The Lemon law
All states have a lemon law but guidelines vary
Get the dealer principal involved after two repair efforts fail, don't wait.
Get your forms from your state's Attorney General office
Arbitration could be available from the manufacturer
Federal lemon law
Magnuson-Moss act
FTC new or used
Effort equals results
The main concepts
What to do if you purchase a problem vehicle
The FTC is increasing their rules for dealers
Does it really help or just increase prices
Electricity costs are going up…fast
The Lemon law
All states have a lemon law but guidelines vary
Get the dealer principal involved after two repair efforts fail, don't wait.
Get your forms from your state's Attorney General office
Arbitration could be available from the manufacturer
Federal lemon law
Magnuson-Moss act
FTC new or used
Effort equals results
The main concepts
Dealing on medium and low priced used
Don’t be fooled by a $7500 credit there are lots of other reasons
So many new vehicle tricks and gimmicks, go used
Used leasing isn’t good
Inexpensive is many things
Used vehicle categories are different
Priorities have a number
Like everything , pay more, get more
Many ways to save
Clear title is always number one
A check list to follow
Low dollars are low value
Banks always play a part
Junk is just that
Why was it salvage
AS IS describes current condition
Salvage title means brought back from the dead
The due diligence keys when buying a used vehicle
Climate change barrier reef is 90% better
Tax credit? Only a few models and who needs it?
Due diligence on a used is different
Resale consideration can be just as important
You need wholesale and retail prices
Use all the pricing guides
Call for quotes
For exact options you can’t be too picky
Special reports will help, like Consumer Reports
What are the keys
What Dealer?
What are your basic needs
Check for flood signs
More due diligence
Checking banks cuts even more $
They will call if you walk
OTD or CPI, always
Cash pressure on the non-dealer
Trade works the same as new
CPO is not the best deal
Do's and don'ts
EV battery onto the reasons list
Short cuts to dealing
The don’t do it list
The reverse of what to do
Test driving? No pricing
Out of time
Three choices as I see it
Sometimes what not to do is just as good
Take time for Due diligence
Avoiding mistakes
From basic to not so basic
A list of not to do
Leasing adds to the list
Electric vehicles, Just say no
Electric vehicle review
Carvana is banned in Illinois
Don’t buy on line, ever
Ship fire at sea can’t be extinguished and 4000 electric vehicles go down
Green new deal is crazy
Reviews and reports on electric
Mild hybrid
Hybrid
Plug in hybrid
Total electric
The resale facts are huge
They cost more
The cost of ownership is more
Convenience has value
Price , distance, time, safety
Save enough to drive 80,000 miles
Choices before you start and protect your credit Now
EV issues are many
Have batteries changed much?
Protecting credit score
Score factors
Reset the budget
What are the questions you need to research?
Budget
Unit before you start
Trade prep
Minus equity
New or used, lease or buy
Where
When
What hurts credit
Too much buying power
End the extra credit
Communication is king
Ask all sources
Peter to Paul
Timing is huge when buying a vehicle
Electric vehicles weigh more / wear more
Electric vehicles repair difficult to find
EV fires are different
When can make you a winner
Day, week, month, time of day, all matter
The Weather can change timing
Holidays
Last day or the 32nd
Afternoon buyer
Hot just like cold
Current, left over, late model used
When not to buy, like right now
Leasing times are similar, except now
Resale value can mean thousands either way
EV Range is best in the city
Cold is anti EV
Planning is difficult for an EV
Resale value is always part of your cost
A seemingly good deal might be the opposite
Considered the least
Around the clock
Can you predict it?
What determines the value?
How to protect it
There are many factors
Brand can be big
Think it through first
Extended service plan, yes or no
Average EV price vs Average vehicle sold
More space needed to stop?
Assuming good condition
Extended service plans are not warranties actually
Condition and care tell the story
Price plus deductible is the first repair
Extended warranties are a question
Extended warranty does not add in the trade in value
Keeping it? Yes
Always from the maker
With a warranty fix or trade is never a question
Low repair record equals high resale
The keys to Negotiating your deal
E Vehicles are not what they appear to be
When is it time to say yes?
Negotiating is part of every episode
Many methods, varied results
Knowledge is key
Due diligence support
Waiting for results
Can you do better?
Persistence
Deal and trade separate if possible
Talk when there is a need
Offer and facts together
You may need to walk
No substitute for due diligence
checking your collision coverage
EV Update: batteries
- Dealers fined for consumer fraud never enough
- Zero emission electric vehicle story is a lie
- What makes a battery
- Car, truck, motorcycle, motor home or boat, Insurance is part of the process
- Auto collision insurance is just another add on
- Just because they sound cheap
- Hundreds of companies, millions of quotes
- Your driving record isn’t the number one factor
- Credit is the key
- Loyalty?
- Teen dollars
- Bundling means nothing
- Where are the discounts?
- Shop Your insurance
Preparing for the F&I business office
Electric Vehicle price difference from gas is HUGE
Congress is buying EV stocks and then pushing them
Will home owners Ins reflect the electric connections?
Think and make a pro vs con list
F&I as a conversation
Business office money
Myriad of products
Every product can appeal to someone
Reserve commissions can be huge
Be prepared, due diligence
Payment packing is real
How to guard
F&I Menu approach
Review you payment in the business office first
90 day bump
Listen to the products info, it might be good for you
Shop the F&I products before you go into buy
The more you know, the less their advantage
What to do when your deal runs into dishonest or ethical issues
Electric sales are not booming
Shipping charges are crazy high and the value is crazy low
If your deal has a problem
Factory problems must follow a plan
Due diligence, due process
Follow the Chain of command
Salesperson, Manager, Dealer principal or GM
Manufacturer (Company.com) and the bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC (federal)
UDAP statutes will help
Attorney last
Assertive and persistent, not aggressive
Best model articles
Best Brand tells the real story
Best used are the best resale
Automotive ads explained
Brand choice protects resale dollars
Crazy ads are even crazier
Disclosures that don’t help
Radio, TV, newspaper, socials
Vague is the norm
Bait and switch
Crazy trade values
Employee pricing
Surprises can be thousands
Ads indicate character
Ethics indicates results
It doesn’t get better, it’s a culture
Look for dealers that advertise what they offer other than price
The Certified preowned story
Same credit but different terms
Affordability doesn’t matter
Dealers will use a rate that helps them nit you
Shop the banks first
CPO vehicles and value
Read all the material for a specific certified unit
Check points sound huge
Just marketing another way
Bank rates with CPO
Certified can cost several thousand more
Why pay in advance for what might happen
Low mileage and a clean car fax
The retail book value does not have an add on for certification
Certification vs resale value, zero
Sometimes the promises lower your guard
Certify your own and save big
The pro and con of electric automobile purchasing
EV’s cost many thousands more
Resale will be less making the effective cost of ownership is even more
Green new deal crazy
Reviews and reports on electric
Mild hybrid
Hybrid
Plug in hybrid
Total electric
The resale facts
Cost of ownership
1 Kw = 4 miles average
Weight vs distance
32 Kw for 100 miles
Kw’s cost between 25 and 50 cents
Gas isn’t that much different
EV’s are thousands more
Convenience has value
Price , distance, time, safety
How to handle minus equity, aka upside down, aka underwater
New Gas MPG requirements
9000 dollars
The electric push
Overlooked leasing terms
Resale support
Under water, minus equity, upside down
Why it happens
What to do
This market’s opportunity
Type 1 and type 2
Due diligence
Minimizing minus equity
Start with the right vehicle
Eight tips for the future
Fix it or trade it plus motorcycle buying tips
Fix it or trade
The market adds new pressure
How old is yours
What are the future repairs
You need about 2 years
If you must buy search outside of your market as well
Forced savings or a new project
Keep the price low for resale loss
Short term lease is usually an answer but not now
Motorcycle buying is not as crazy a market right now
Ask yourself the right questions
Touring, sport, long , short?
What culture?
Insurance can be a huge factor
Due diligence is the same
Dealers can vary by huge numbers
More for you to check on a used
Avoid electric bikes
Understanding the current leasing terminology
- Consumer report reviews, always the same winners
- Different terminology
- Stick to a short term
- Research is key
- Leasing terminology
- Closed end
- Open end
- Divide or multiply by 2400 for the interest rate or factor
- Acquisition, inception, termination
- Guaranteed resale value
- Capitalized cost
- residual
- sign and drive
- Wear and tear
- Annual mileage allowance
- Term is important
- No trading elsewhere now
Electric trucks and shopping without negotiation
70 or 80 thousand for a fully equipped pickup that goes 320 miles
Who watches the load while charging
Electrics are still missing range, safety, competitive pricing and resale value
Get ready for the push
Sit down and think about it
Shopping before any price talk
Bank info
Trade in info
Get your price range
Just worry about product comparison
Negotiation is always after due diligence and that’s after product
Truck buying tips and ways to save on Gas
A list of gas saving adjustments
Huge truck rebates, questionable results
The market is crazy from inflation and scarcity
Now trucks are more than trucks
Resale and discounts
High market will cause huge resale losses
The market remembers huge discounts and ballooned pricing
The box size matters
Transmission and resale
Engine, bigger is usually better
4x4 = $x$ Keeps on giving
Know exactly what you need before you look
Finance is a bigger factor now
Used truck market is even crazier than the new
Carfax always
Check for Flood even more so
Now is not the time to buy
If you must buy, low price equals low resale loss
Smart dealers explain why to buy there
Don’t let these crazy times control you
Buying out you lease is simple
There are things to do preparing for the long hall
Make sure you got what you paid for
Check everything after the delivery as well
Check all paperwork numbers
Read he manual or if needed, get one, even the keeper
Used, change fluids
Clean it
Get all the carryon extras
Do the protection
Set up maintenance
Air tag or tile
Keeping it, Prepare it for starting over
What is the story on automobile sales labels?
Monroney is the one that matters
Get the right info
Watch out for double label look a like
What the Monroney label can tell you
Comparing your diligence
Additional Information
Addendum label types
A good label can make a used look like it is a new
Buyers guide
Used labels for equipment only
MSRP for proper comparison
Monroney labels.com for the original
OTD is all that counts
Luxury considerations
Crazy Market, Crazy down payments
Check your Insurance coverage
When buying some factors aren’t numbers
What qualifies as Luxury ?
Safety is paramount
The latest High tech
Resale is still #1
Power, quality, technology
EV lots of luxury models
More affordable then you think
Leases are best
What affects luxury resale
Big price, big savings
CPO no, used maybe
Due diligence is required
Handling the business office part of the deal
Three big market questions
What the answers likely are
When things are this crazy, if you can, wait
Forced pitch from F&I, get up and leave
How to process F&I aka business office
Business office and sales are separate
CPI to stop payment packing
Delivery after bank approval
Dealer finance reserve is the biggest ticket
Bank shopping pre dealer visit is paramount
No to everything can be as bad as yes
Geographic add-ons help resale
OEM add-ons
Always request the manufacturer of the vehicle’s warranty plan
F&I is shop-able for almost all products
Do your add-on planning early
Read all the numbers in your paperwork
Critical dealing tips
- Servicing is a personal choice
- F&I pushing prior to the business office
- Do I need get ready
- CPO vehicles are not new
- When you run out of time
- In person please
- Trade shopping
- Enough quotes?
- OTD, CPI
- Not your friends
- Your name is enough
- Payment calculator
- Used Car-fax or Auto-check
- flood check
- dealer repair order
How to get the most out of your current vehicle 1. Car part theft is big 2. Chip issues equal missing options 3. What is the plan for a trade in or a sale 4. Recondition as much as you can 5. Ways to sell your trade 6. Know why you are selling 7. What you should verify and know 8. Retailing pays 9. Preparation is the same 10. Know what you are trading 11. Deal first, trade second 12. Getting all the resale out of yours 13. Small investment, big return 14. No matter how old it is worth prepartion 15. Trade payoff planning
Limited effort - limited results
Save big without an EV
Not short enough
Buyers remorse
What was missed
Time well spent
Due diligence rush Phone and Internet
Is one-price a choice?
One day, the whole day
Be assertive, not aggressive
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
Odd ball categories: rentals, lease, repos and individual
Other EV facts
No Denver to Dallas
Average deal price goes up in a down year?
Heat costs power
Off lease check it more
Rentals mean poor servicing
Rental car deals….Not!
A lease is not a rental
They are not worth more, just the opposite
Repos maybe OK
If you are looking call your banker
Flood may be a bigger consideration on rental, repo and lease
Flood can be invisible
Odometer laws are federal
Always get a mileage statement
See the title
Financing your first big ticket
Dealers charge whatever rate they can get away with
For ratings stick to the yearly edition of Consumer report
Heads up for the buyer
The banks, more risk, more rate
Know your budget and stick to it
Down payment isn’t a lock
Employment offer
FTB, finance first, buy and negotiate second
Don’t give up
Financing has many sources
Referral letters will help
Cosigners are the best answer
Recourse dealers
Improve the risk
Buy here pay here may be the last choice
Common sense Electric versus Gas
Destination charges marked up but thrown out
Electric chip bologna
Electric resale?
Electric types?
Hybrid
Plug in Hybrid
Total Electric
What are the limits?
Charging takes time
No charge? What to do
Without fossil fuel taxes will new taxes pay for roads
Crash safety doubts?
We need the minerals
Find a power source
Electric fuel can cost as much as gas
Do all electric costs go up?
The cost difference in new vehicles is huge.
Maintenance happens on all vehicles
Battery versus tuning, $
Who can fix them?
Resale is a guess but my bet? poor
Environmental facts vs exaggerations
100,000 mile fuel cost difference
You are ready, time to buy
Electric updates
Hybrids don’t save money in the long run
Is EV charging safe?
Great negotiating requires great due diligence.
Know the Monroney or book
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Don't acknowledge the price anchor
Always ask for a better price before making an offer
Assertive, not aggressive
Hold your lips together tightly as the dealer plays his cards
Don't take the dealership’s position or attitude personally
ACV versus allowance.
Either way works but one at a time works best
Due diligence is your ammunition.
The due diligence you need to do
Black Friday bull
2022 Consumer Report has a great ratings section
Brand tells the story best
Due diligence is paramount
There are no short cuts
Buying tips? Watch out
Know what you want
Used price calculation methods for used
Use the Monroney label for online comparison of a new
The internet for today's deal but not buying
Get the facts and leave the rest.
Beacon scores
Bank rates and terms
Internet quotes or however possible
Assertive not aggressive
Shop dealer installed accessories before the deal
Chose a few dealers
Compare amenities
Go in armed with the facts
One price, No haggle
Be prepared for the electric push
The one price- no haggle culture
There are no special deals
Why it is used
Lower overhead and better averages
It’s not customer satisfaction
2+2 is not 5
No haggling does not mean good price
Ho Hum prices
F&I can take heir time and your money
Don’t let your guard down for a second
Negotiating is pro customer satisfaction
One price gives a dealer higher average profits
No matter what it says, haggle anyway or move on
The cons of dealer advertising
Bad ads = bad experience
Bait and switch
Switching stories
Ridiculous trade values
No matter what you owe
Rebate tricks
Employee pricing, means what?
Disclosures
Plus everything
Radio, newspaper, magazines, TV, social media,
FTC will help eventually
Not a single number is factual
A dealer’s ads uncover their ethical character
Nothing else matters but OTD and CPI
Dealing on a low priced used
Salvage title means Brought back from being totaled
Junk is just that
Why was it salvage
AS IS describes current condition
used leasing isn’t good
Inexpensive (cheap) used vehicles are different
Priorities have a number
Clear title is always number one
A check list
Low dollars are low value
Banks always play a part
Used vs new buying, how are they a different?
There are many things you should consider
Deciding what is a little less perfect
Resale consideration is much the same
You need wholesale and retail prices
Use all the pricing guides
For exact options you can’t be too picky
Special reports will help
List of key considerations
What Dealer is a consideration
What are your Basic needs
Check for flood signs
More due diligence
Even more banks
They will call if you walk
OTD or CPI, always
Cash pressure on the non-dealer
Handling your trade?
CPO is a no go
Things not to do
CPO promises
Florida AG is on the lease question
Email that tells the real story
The don’t do it list
The reverse of what to do
Test driving? No pricing
Out of time
Three choices as I see it
Sometimes what not to do is just as good
Take time for Due diligence
Avoiding mistakes
From basic to not so basic
A list of not to do
Leasing adds six to the list
The Lemon law, state and federal tips
All states have a lemon law
All states are different
Arbitration could be available
Federal lemon law Magnuson-Moss
FTC new or used
Effort equals results
The main concepts
The Magnuson-Moss Act
Assertive, never aggressive
Buy gas and donate to climate research
Leasing isn’t a scam
You can negotiate by payment if you follow the rules
Buy Electric, yes or no?
Making a choice about vehicles
Number of trades won’t matter
Get the hot seller when you can
Chip story isn’t a big factor
Green new deal crazy
Reviews and reports on electric
Mild hybrid
Hybrid
Plug in hybrid
Total electric
The resale facts
Cost of ownership
Convenience has value
Price , distance, time, safety
Protecting your credit plus a bonus: Questions to start your purchase
You have more time
Protecting credit score
Score factors
What hurts credit
Too much buying power
End the extra credit
Communication is king
Ask all sources
Peter to Paul
Reset the budget
What are the questions you need to research?
Budget
Unit with MSRP
Trade prep
Minus equity
New or used , lease or buy
Where
When
When you purchase can make a big difference in cost
Reviews point you in the right direction, usually
Resale value should change the point totals
Trucks, cars, Motorcycles, etc. Resale changes the equation
When can make you a winner
Day, week, month, time of day, all matter
The Weather can change timing
Holidays
Last day or the 32nd
Afternoon
Hot just like cold
Current, left over, late model used
When not to buy
Leasing times are similar
Always a good test drive
Comfort is predicable
Elbow grease when you are testing
Corvette wins on dollars
Resale is always part of the deal
A seemingly good deal might be the opposite
Considered the least
Around the clock
Can you predict it?
What determines the value?
How to protect it
There are many factors
Brand can be big
Think it through first
Extended warranties and more
Buy you lease or turn it in?
This year it is yes
Assuming good condition
Motor home safety
Buckle up
Tires are a concern
Practice
Fix it or trade it
Condition and care tell the story
Fixing is always cheaper
Extended warranties are a question
Keeping it? Yes
Always from the maker
With a warranty fix or trade is never a question
Confirming the lease advantage
Electric vehicles mean different taxes not zero taxes
A crazy 2500%
Hurting the people to help the planet
Get quotes
Trade shopping
Beacon score
Calling Banks
Insurance cost?
Consider add-0ns
The considerations when you're picking a dealer
Due diligence is paramount
Leasing means more Choices
More vehicles in 10 years
Keep it, trade it or walk away
No repair.
Mileage is a plan, either way
Tax?
Lease trade due diligence
Easy shopping with sign and drive
How to negotiate a winning deal
Leasing scam update
EV units and fires
We primarily talk the how of buying
Get the dealer to offer
Knowledge is key
Due diligence support
Waiting for results
Can you do better?
Persistence
Deal and trade separate if possible
Talk when there is a need
Offer and facts together
You may need to walk
No substitute for due diligence
Leasing treachery by the manufacturers
Everyone call the FTC
Help is on the way for kids and pets left in a vehicle
Lots of other help is coming
Smart headlights
F&I as a conversation
Business office money
Myriad of products
Every product can appeal to someone
Reserve commissions can be huge
Be prepared, due diligence
Payment packing is real
How to guard
F&I Menu approach
Review you payment in the business office first
90 day bump
Listen to the products info, it might be good for you
Shop the F&I products before you go into buy
The more you know, the less their advantage
Facts to know about your automobile insurance
- Should you buy a loaner vehicle?
- No real Care
- Savings would have to be big
- Rental if you must
- Extended service is a policy
- Gap insurance is a policy
- Car, truck, motorcycle, motor-home or boat, Insurance is part of the process
- Auto insurance is another plan
- Just because they sound like the least expensive
- Hundreds of companies, millions of quotes
- Driving record isn’t number one
- Credit is Key
- What loyalty?
- Teens mean dollars
- Bundles mean nothing
- Where are the discounts?
- Shop them all, often
What to do if there is a problem with your deal or the vehicle
Watch out for the problems lists on the net
They either suggest the wrong thing or can’t explain it
If your deal has a problem
Factory problems must follow a plan
Due diligence, due process
Follow the Chain of command
Salesperson, Manager, Dealer principal or GM
Manufacturer (Company.com) and the bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC (federal)
UDAP statutes will help
Attorney last
Assertive and persistent, not aggressive
What are CPO - Factory certified preowned vehicles?
Episode 300, lots of subjects and lots of ideas
Look through the list and pick out what you need
CPO vehicles and value
Read all the material for a specific certified unit
Check points sound huge
Just marketing another way
Bank rates with CPO
Certified can cost several thousand more
Why pay in advance for what might happen
Low mileage and a clean car fax
The retail book value does not have an add on for certification
Certification vs resale value, zero
Sometimes the promises lower your guard
Certify your own and save a lot of money
What to do about upside down: Minus equity
Electric maintenance is very similar
Power train repairs are fewer but larger
Ford blue advantage is the bull advantage
Get a mileage statement signed
Resale support
Aka, under water and minus equity
Why it happens
What to do
Type 1 and type 2
Due diligence
Minimizing minus equity
Start with the right vehicle
Eight tips for the future
Don't be fooled by Automotive ads
Crazy ads all year
Rebate vs 0%
Disclosures that don’t disclose
Radio, TV, newspaper, socials
Vague at best
Bait and switch is everywhere
Finance with us
Crazy trade values
Employee pricing
Surprises can be thousands
Ads indicate character
Ethics indicates results
It doesn’t get better, it’s a culture
Look for dealers that advertise what they offer other than price
Repair or trade tips
Know your repair shop
Fix or trade
Do you have the cash?
What does the track record say?
What does the budget think?
Trade in fixed or not?
Once fixed, what do you have?
Due diligence and compare
You can change your mind
Motorcycles are similar
Resale is a huge factor
Different rules
No Monroney needs an accurate list
Insurance can scare you
Setup and prep
Covid, destination, electric and shop before price
Fifteen minutes, twice a week anyway
The dealer must sanitize after being inside your vehicle
Destination charge isn’t part of used
Destination charges are crazy and add nothing to resale
Electrics are still missing range
Get ready for the push
Sit down and think about it
Shopping before any price talk
Bank info
Trade in info
Get your price range
Negotiation is always after due diligence
The leasing language
- Average used price
- Another 10%
- A little more elbow
- Stick to a short term
- Research is key
- Leasing terminology
- Closed end
- Open end
- Divide or multiply by 2400
- Acquisition, inception, termination
- Guaranteed resale value
- Capitalized cost
- Residual
- Sign and drive
- Wear and tear
- Annual mileage allowance
- Term is important
One last list
Noise in the vehicle? Assume the worst
Always check before you buy
CR repairs 5 and 10 years, the best and the worst
In the first 5 often a warranty
5 to 10 are the expensive years
Stats are an indicator of brand
Repairs can mean trade
Make sure yo got what you paid for
Check everything after the delivery as well
Check all paperwork numbers
Is everything there?
Read he manual and if needed, get one
Used, change fluids
Clean it
Get all the carry ons
Do the protection
Set up maintenance
Air tag or tile
Always ask for more
Truck buying considerations
Classics are condition awareness
Huge truck rebates, questionable results
Now trucks are more than trucks
Resale and discounts
The market remembers huge discounts
The box size
Transmission and resale
Engine, bigger is usually better
4x4 = $x$ Keeps on giving
Know exactly what you need before you look
Finance is a bigger factor now
Used trucks compared to new
Car Fax always
Check for Flood even more so
Luxury buying considerations
Formula One Miami
Sport model search, buy now
Resale update
When buying some factors aren’t numbers
Good buying requires a little elbow grease
What qualifies as Luxury ?
Safety is paramount
The latest High tech
Resale is still #1
Power, quality, technology
EV lots of luxury models
More affordable
Leases are best
What affects luxury resale
Big price, big savings
CPO no, used maybe
Due diligence is required
Window stickers and dealer labels
Buying from Craigslist
Monroney is the one that matters
Get the right info
Labels
Watch out for double label look a like
What the label can tell you
Comparing your diligence
Additional Information
Addendum label types
A good label can make a used look like a new
Buyers guide
Used labels for equipment only
MSRP for proper comparison
Monroney labels.com for a used
OTD is all that counts
F&I, (business office). What to expect
Electric vehicle new model 233 miles 60,000 dollars….Volvo
Forced pitch from F&I, get up and leave
What to do with F&I aka business office
Business as usual in sales
CPI to stop payment packing
Delivery after bank approval
Dealer finance reserve is the biggest ticket
No to everything can be as bad as yes
Geographic add-ons help resale
OEM add-ons
Dealers use add-ons to build the discount in the beginning
Always request the factories extended warranty
F&I is shop-able for almost all products
Do your add-on planning early
Read all the numbers in your paperwork
Basic review
- Untrained salespeople be prepared
- F&I pushing prior to the business office
- Do I need get ready
- When you run out of time
- In person please
- Trade shopping
- Enough quotes?
- OTD, CPI
- Not your friends
- Your name is enough
- Payment calculator
- Used Car-fax or Auto-check
- Flood check
- Dealer repair order
Getting the most out of yours
- Which is better, new or used?
- Deal and method
- What is the plan for a trade in or a sale
- Ways to sell your trade
- Know why you are selling
- What you should verify and know
- Retailing pays
- Trade or not to trade
- Preparation is the same
- Know what you are trading
- Deal first, trade second
- Getting all the resale out of yours
- Small investment, big return
- No matter what you are trading
- Trade payoff planning
Limited time effort
Consumer Report Yearly Automotive edition
My score card
They got a lot right
What people usually miss
Beware when rushing
Due diligence rush
Phone and Internet
Is one-price a choice?
One day, the whole day
Be assertive, not aggressive
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
Securing credit situations
Speedometer laws
Fixing you score
Costs that are coming
credit sources.
Beacon scores and how they relate
Down payment makes a difference
Many levels in autos
Buy here pay here last
Secondary finance sources are better then BHPH
Get some testimonials!
You can still shop!
Do what you can for your score now
Average credit can get a better call, shop
Where there’s a will there’s a way
Rentals, leases, repo's,
New safety systems
Safety should come first
Too many to list them all
Rentals for sale
Used off lease
Rental car deals….Not
A lease is not a rental
Off lease requires checks
They are not worth more, just the opposite
Repo's maybe OK
Flood may be a bigger consideration
Rental, lease, repo's, flood can be invisible
Look for these
Electric or gas?
Recalls and how they work
Electric resale poor
What are the different kinds?
Hybrid
Plug in Hybrid
Total electric
Low limits
Time to charge
If you run out of charge?
Will new taxes pay for roads
Crash safety?
We need the minerals
Finding a power source
In many places electric fuel costs as much as gas
The cost difference new is huge
Maintenance happens on all vehicles
Battery versus tuning, Wow
Who can fix them?
Resale is a guess but my bet is poor
Environmental questions
Over a 100,000 miles cost difference
You are ready, believe it
Electric station numbers are still small
Nothing on Youtube
Thorough check
Great negotiating requires great due diligence.
Know the Monroney or book
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Don't acknowledge the price anchor.
Assertive, not aggressive
Always hold your lips together tightly and listen.
Don't take the other people's position or attitude personally
ACV versus allowance.
Either way works but one at a time works best
Due diligence is your ammunition.
The due diligence is the key
Apple should re-think their deal with Hyundai
There are no short cuts
Buying tips? Watch out
Know what you want
Used price calculation methods for used
Use the Monroney label for online comparison of new
The internet for today's deal but not buying
Get the facts and leave the rest.
Beacon scores
Bank rates and terms
Internet quotes or however possible
Assertive not aggressive
Shop dealer installed accessories before the deal
Chose a few dealers
Compare amenities
Advertising is an ethics measure
Go in armed with the facts
Buying a cheap used vehicle
Salvage title means totaled
Junk is Junk
You need to know the reasons for salvage
AS IS describes what it is
There are a few yes buts
Leasing should be new units only
used leasing isn’t good
Buying an inexpensive (cheap) used vehicle
Priorities vary by price
Clear title is always number one
A list of considerations
Low dollars is about condition
Banks always play a part
Used vehicle buying
There are many things you should consider
Used vs new buying, how are they a different?
Resale consideration is much the same
Deciding what is a little less perfect
Use all the pricing guides
You need wholesale and retail
Selection look and exact options can’t be too picky
Dealer considerations
Special reports will help
Basic needs
Looking it over
Check for flood signs
More due diligence
List of key considerations
Even more banks
They will call if you walk
OTD or CPI, always
Cash pressure on the non-dealer
Handling your trade?
CPO is a no go
Automotive ads and what they mean
Electric car pressure
Bad ads = bad experience
Bait and missing
Switching stories
Ridiculous trade values
No matter what you owe
Multiple rebates
Employee pricing, means what?
Disclosures
Plus everything
Radio, newspaper, magazines, TV, social media, other internet
FTC will help eventually
Not a single number matters
A dealer’s ads uncover their ethical character
Nothing else matters but OTD and CPI
One price philosophy
Electric news
The one price culture
Be careful of special deals
Why it is a possibility
Lower overhead and better averages
It’s not customer satisfaction
2+2 is not 5
One price does not mean good price
Ho Hum at best
F&I has more time
Don’t let your guard down
Negotiating is a happier customer
Usually a higher average profit
Don't let your guard down
The don’t do it list
The reverse of what to do
Test driving? No pricing
Out of time
Three choices as I see it
Sometimes what not to do is just as good
Take time for Due diligence
Avoiding mistakes
From basic to not so basic
A list of thirty five
Leasing adds six
Pre buying questions plus credit during Covid
What are the questions you need to research?
Budget
Unit with MSRP
Credit
You have more time
Protecting credit score
Score factors
What hurts credit
Too much buying power
End the extra credit
Communication is king
Ask all sources
Peter to Paul
Reset the budget
The electric vehicle push
Green new deal and vehicles
Reviews and reports on electric
The resale facts
Cost of ownership
Convenience has value
Not ready yet
All states have a lemon law
All states are different
The Attorney General has the forms
Arbitration could be available
Federal lemon law Magnuson-Moss
FTC new or used
Effort equals results
The main concepts
Assertive, never aggressive
What about when?
- No free lunch. Poor quality, poor resale
- Recalls can be an indicator
- When is a big factor
- Weather can be on your side
- Post-holiday
- Summer heat
- Week day
- Last or 32nd,
- Time thoughts
- Morning, noon or evening
- New model or left-over
- Two year late model used
- Oddity of design change
- When not to buy?
- Lease timing advantages are similar
- Use what you can
Plan and protect resale
Michelin is all you need
25000 mile or more plan
Late model used
A 3 year plan
Resale value should be your number one
Resale is part of your deal
A seemingly good deal, might not be
Good resale lightens minus equity
Is resale part of the deal?
Resale is the biggest cost but considered the least
A year round factor
What is Predictable?
What else plays a part?
How to protect resale
What are all the factors?
What can you do?
Think twice, buy once
Leasing facts
Black Friday list
Is it for me?
Resale facts
Flexible terms
More Choices
Peace of mind
More vehicles in 10 years
Keep it, buy it, trade it or walk away
No repair
Mileage is a plan either way
Tax?
Still trade due diligence
Keep your trade dollars
Easy shopping with sign and drive
Preparing for the purchase
Electric vehicles mean different taxes not zero taxes
Electric costs just like other fuels
Consumer report yearly guide
The brand story means resale
Review is good
Getting your paperwork
After the shopping model
Get quotes
What you might say
Ad blocker
Trade shopping
Beacon score
Calling Banks
Insurance cost?
Consider add-0ns
List the amenities while testing
The considerations when you're picking a dealer
Treatment does not get better
Due diligence is paramount
Have you ever been this prepared?
Negotiation methods
Timid can win
Get the dealer to offer
Without confrontation
Knowledge is key
Due diligence support
Waiting for results
Can you do better?
Persistence
Deal and trade separate if possible
Aggressive trade issues
Talk when there is a need
Offer and fact together
You may need to walk
No substitute for due diligence
Never shopping
Never cash
Talking finance office
Small car lease
Low residual, higher payment
Business climate driven
F&I, business office, finance guy
Business office profits
Undercoating or rust proofing makes it quiet
Myriad of products
Reserve goals
Be prepared, due diligence
Payment packing is real
How to guard
Menu approach
Review in the business office first
90 day bump
Listen to the products info, it might be for you
Shop the products before you shop the deal
The more you know, the less their advantage
Policies both driving or fixing
- Extended service maybe
- Planned ownership
- Quality questions
- Factory policies only
- Repair question ratios
- More desirable sale but not more money
- High tech means high price repairs
- Car, truck, motorcycle, motorhome or boat, Insurance is part of the process
- Auto insurance is another plan
- Just because they sound like the least expensive
- Hundreds of companies, millions of quotes
- Driving record isn’t number one
- Credit is Key
- What loyalty?
- Teens mean dollars
- Bundles mean nothing
- Where are the discounts?
- Shop them all
When things aren't right
Station wagons limited
Might be great resale
DWI might be stopped
Like I said, the 10 best used cars
If your deal has a problem
Factory problems must follow a plan
Due diligence, due process
Salesperson, Manager, Dealer principal or GM
Manufacturer (Company.com) and the bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC (federal)
UDAP statutes will help
Attorney last
Assertive and persistent, not aggressive
CPO vehicles and value
California 2035
Autonomous ideas
Communicating is a a big factor
Read all the material for a specific certified unit
Check points sound huge
Just another way to sell
Bank rates with CPO
Certified can cost several thousand more
Pay in advance for what might happen
Low mileage and a clean car fax
The retail book value does not have adds for certification
Certification vs resale value
Sometimes the promises lower your guard
Minus equity AKA upside down
Buying from an individual
No warranty of any kind
Get a mileage statement signed
Where is the title
Don’t pay without a title guarantee
Resale support
Aka, under water and minus equity
Why it happens
What to do
Type 1 and type 2
Due diligence
Minimizing minus equity
Get the right vehicle
Seven tips for the future
Repair or trade tips
Know your repair shop
Check the BBB
What certificates are visible?
Clean and neat may equal ethics
Fix or trade
Do you have the cash?
What does the track record say?
What does the budget think?
Trade in fixed or not?
Once fixed, what do you have?
Due diligence and compare
You can change your mind
Dealing with the advertising
Are electrics bad?
There are too many issues with an electric
Crazy ads all year
Rebate vs 0%
Disclosures that don’t disclose
Radio, TV, newspaper, socials
Vague at best
Bait and switch is everywhere
Finance with us
Crazy trade values
Employee pricing
Surprises can be thousands
Ads indicate character
Ethics indicates results
It doesn’t get better, it’s a culture
Look for dealers that advertise what they offer other than price
Covid-19 considerations and just before due diligence
Fifteen minutes, twice a week
The basic buttons and seats
Close your vent system in town
The dealer must sanitize after being inside your vehicle
Electrics are still missing range
Riots and electric might not mix
Destination charges are exploding
Shopping before any price talk
Get your price range
Negotiation is always after due diligence
Leasing terminology
- Is there negotiation after rebates
- Factory deals cost the dealer zero
- Factory sponsored has no effect
- Leasing terminology
- Closed end
- Open end
- Divide or multiply by 2400
- Acquisition, inception, termination
- Guaranteed resale value
- Capitalized cost
- residual
- sign and drive
- Wear and tear
- Annual mileage allowance
- Term is important
Thoughts truck buying
What to avoid
Now trucks are more than trucks
Resale and discounts
The market remembers huge discounts
The box size
Transmission and resale
Engine, bigger is usually better
4x4 = $x$ Keeps on giving
Know exactly what you need before you look
Finance is a bigger factor now
Used trucks compared to new
Carfax always
Check for Flood vehicles
Motorcycle buying advice and after you buy todo’s
Motorcycles are similar
Resale changes what the investment appears to be
Comparison shopping can be thousands
Review all the numbers
After the purchase, review the Monroney Label
Read the manual
Register your tires
Used must register with the manufacturer
Used vehicle extras
Sealant, upholstery guard, mud flaps
Extras you should get
The bag in the trunk
Leasing worries less
If a better deal shows up
Luxury considerations
Resale update
Dealer reserve commissions on the way out
When buying some factors aren’t numbers
Good buying requires a little elbow grease
What qualifies as Luxury ?
Safety is tops
The latest High tech
Resale is still #1
Power, quality, technology
More affordable
Leases are best
What affects luxury resale
Big price, big savings
CPO no, used maybe
Due diligence is required
Basic review
- Crash test guess
- Covid driver results
- Do I need get ready
- Check the serial number with the label
- When you run out of time
- In person please
- Trade shopping
- Enough quotes?
- OTD, CPI
- Not your friends
- Your name is enough
- Payment calculator
- Used Car-fax or Auto-check
- flood check
- dealer repair order
Auto dealer business office (F&I)
Salespeople make mistakes
If not written and missing, you lose
What to do with F&I
Business as usual in sales
Residual equals wholesale retail
What goes into the resale percentage?
No to everything can be as bad as yes
Geographic add-ons help resale
OEM add-ons
Dealers use add-ons
Always request the factories extended warranty
F&I is shop able
Do your add-on planning early
Getting all the resale possible from yours
- Magazines that help or not
- Cost of ownership is more than service
- Ways to sell your trade
- Know why you are selling
- What you should verify and know
- Retailing pays
- Trade or not to trade
- Preparation is the same
- Know what you are trading
- Deal first, trade second
- Getting all the resale out of yours
- Small investment, big return
- No matter what you are trading
- Trade payoff planning
Factory rebates and price labels
Rebate slight of hand
Check every choice, everytime
Get a payment calculator
Get the right info
Labels
Monroney matters
Watch out for double Monroney
What the label can tell you
Comparing your diligence
Additional Information
Addendum label types
Buyers guide
Used labels for equipment only
MSRP for proper comparison
OTD is all that counts
Cutting the buying time in half
New and good buying tips are rare
Payment range is payment packing
Sometimes it is better to just leave
If you don’t care, skip it
Buyer beware when rushing
Diligence in a hurry
Phone and Internet
A one-price store?
One day, the whole day
Be assertive, not aggressive
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
Rentals, leases, repo's, preparation
Additional Virus tips
Stretch your service
Drive a little
Keep it up
Body shop opportunity
Rental car deals..Not
Lease is not rental
Off lease requires checks
They are not worth more
Repo maybe OK
Flood may be a bigger consideration
Avoiding a repo in the hard times
If it happens, don’t give up
Contact the lender soon
Make a plan soon
Credit levels and credit answers
Driving half as much
Discount or rebate
Fuel efficiency roll back
Costs that are coming
credit sources.
Beacon scores and how they relate
Down payment makes a difference
Many levels in autos
Buy here pay here last
Secondary finance sources are better then BHPH
Get some testimonials!
You can still shop!
Do what you can for your score now
Average credit can get a better call, shop
Where there’s a will, there’s a way
First time buyer plan
Always a mileage statement
More risk, more rate
Know your budget
Down payment isn’t a lock
Employment LOI
Finance first, buy and negotiate second
Don’t give up
Financing has many sources
Referral letters will help
Cosigners can trump everything
Improve the risk
Buy here pay here may be the last choice
Should you purchase electric or gas?
2040 58%?
Buying an electric used?
Electric resale poor
Lack of rare earth minerals will affect electric vehicles
3 categories and many makes
Hybrid
Plug in Hybrid
Total electric
Low limits
Finding a power source
Cost difference is huge
Maintenance happens on all
Battery versus tuning, Wow
Resale is a guess but my bet is poor
Environmental questions
Over a 100,000 miles cost difference
Ready to deal
Auction units might be Okay
Thorough check
Great negotiating requires great due diligence.
Know the Monroney or book
Always assertive not aggressive.
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Don't acknowledge the price anchor.
Always hold your lips together tightly and listen.
Don't take the other people's position or attitude personally
ACV verses allowance.
Either way works but one at a time works best
Education is ammunition.
Due diligence is paramount
Buying tips? Watch out
Know what you want
Used price or Monroney label for online buying
The internet for today's deal.
Get the facts and leave the rest.
Book prices and shop it
Beacon scores
Bank rates and terms
Internet quotes online or however
Assertive not aggressive
Safety sites
Chose a few dealers
Advertising is an ethics measure
Go in armed with the facts
Buying used, the rest of the story
More used purchasing questions
Salvage title means totaled
Only specific circumstances make it a deal
You need to know the reasons
AS IS describes what it is
There are a few yes buts
Leasing should be new units
Used leasing isn’t good
Buying an inexpensive (cheap) used vehicle
Priorities vary by price
Clear title is always number one
A list of considerations
Low dollars is about condition
Banks always play a part
Buying a preowned
It’s not an exact science
Is a used vehicle deal different than a new vehicle deal
Resale consideration is much the same
Deciding what is a little less perfect
Use all the pricing guides
You need wholesale and retail
Selection can’t be too picky
Dealer considerations
Special reports will help
Basic needs
Looking it over
Check for flood signs
More due diligence
List of ten keys
Even more banks
Don’t be afraid to walk
OTD or months, rate, amount
Cash is Okay on the non-dealer
It all matters
What about your trade?
CPO is still a poor choice
Deciphering dealer advertising
Not so smart car end
Test drive or wait
Bait and missing
Switching stories
Ridiculous trade values
No matter what you owe
Multiple rebates
Employee pricing, means what?
Disclosures
Plus everything
Radio, newspaper, magazines, TV, social media, other internet
FTC will help eventually
Not a single number matters
A dealer’s ads uncover their ethical character
The don’ts of automotive buying
When the storm is over
Gas is cheap
Electric resale is a question
The do not’s win
A list of what not to do
Extra leasing
Pick one out without terms
Always test drive
Think about the future, the fit, your needs, resale value, etc.
Bank first, deal later
Never talk cash
Always, Carfax/Auto check
Never give up
Stick to Deal Talk
Dealing with a one price store
Always be careful of the special deals
Maintenance can wait during the epidemic
Repairs might not wait
Lower overhead and better averages
Customer satisfaction is not the reason
2+2 is not 5
One price does not mean good price
Ho Hum at best
F&I has more time
Negotiating is a happier customer
Usually a higher average profit
Don't let your guard down
Buying vehicles and protecting credit during the virus
You are in control
Easier over the phone
Easier internet information
In writing is always better
Due diligence still applies
You have more time
Protecting credit score
Score factors
What hurts credit
Too much buying power
End the extra credit
Communication is king
Peter to Paul
True one price is a culture
When is the best time to buy?
1. Hold off buying might be a good idea
2. Keep you loan company in the loop
3. Wipe it down weekly
4. Keep it full
5. When is a big factor
6. Weather can be on your side
7. Post-holiday
8. Summer heat
9. Week day
10. Last or 32nd
11. Time thoughts
12. Morning, noon or evening
13. New model or left-over?
14. Two year late model used
15. Oddity of design change
16. When not to buy?
17. Lease timing advantages are similar
18. Use what you can
The Resale Story
Demos aren’t required
Always try it on
Resale value should be your number one
Resale is part of your deal
A good deal, might not be
Good resale shrinks minus equity
Is resale part of the deal?
Biggest cost but considered the least
A year round factor
What is Predictable?
What else plays a part?
How to protect resale
What are all the factors?
What can you do?
Think twice, buy once
The Lemon law
Good salespeople are a guess
Stick to the due diligence
Is good customer service a thing of the past?
Lemon law
All states have one
All states are different
Arbitration could be available
Federal lemon law Magnuson-Moss
FTC new or used
Effort equals results, as everything
The main concepts
Same exact vehicle
Assertive, never aggressive
Focus on what matters
A few more
Leasing benefits
Does it make sense?
Resale guard
Flexible terms
More Choices
Peace of mind
More vehicles in 10 years
Keep it, buy it, trade it or walk away
No repair
Mileage is a plan either way
Tax?
Still trade due diligence
Keep your trade dollars
Payment packing unclear
https://auphonic.com/donate_credits?user=dealtalk
Before you negotiate
Review is good
Getting your paperwork
After the shopping model
Get quotes
What you might say
Ad blocker
Trade shopping
Beacon
Calling Banks
Insurance
Add-0ns
Check the amenities while testing
The considerations when you're picking a dealer
Treatment does not get better
No substitute for due diligence
Have you ever been this ready
Negotiation methods
Without confrontation
Timid can win
Aggressive trade issues
Knowledge is key
Due diligence support
Waiting for results
Can you do better?
Persistence
Deal and trade separate if possible
Talk when there is a need
Offer and fact together
You may need to walk
No substitute for due diligence
Never shopping
Never cash
Insurance questions
- Car Insurance blog
- Never the cheapest
- Repair questions with low cost insurance
- High tech means high price repairs
- Car, truck, motorcycle, motor home or boat, Insurance is part of the process
- Just because they look like the least expensive
- Hundreds of companies, millions of quotes
- Driving record isn’t number one
- Credit is Key
- What loyalty?
- Teens mean dollars
- Bundles mean nothing
- Where are the discounts?
- Shop them all
When the troubles begin
Undercoating makes it quiet
Honda resurfaces at CR
Due diligence, due process
Salesperson, Manager, Dealer principal or GM
Manufacturer (Company.com) and the bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC (federal)
UDAP statutes will help
Attorney last
Assertive and persistent, not aggressive
F&I, business office, finance guy
Myriad of products
Reserve goals
Be prepared, due diligence
Payment packing is real
How to guard
Menu approach
Review in the office first
90 day bump
Listen to the products info, It might be for you
Shop the products before you shop the deals
The more you know, the less left to chance
Factory certified preowned
Get the facts
Read all the material for a specific certified
Check points sound huge
Just another way to sell
Bank rates with CPO
Certified can cost several thousand more
Is it worth more?
Pay in advance for what might happen
Low mileage and a clean car fax
The book does not add for certification when you trade
Prior certification does not add to resale value
Sometimes the promises lower your guard
Under water why’s
Leasing advantages
4 in 10
More stuff
Save tax
Avoid maintenance
Resale support
Aka, under water and minus equity
Why it happens
What to do
Type 1 and type 2
Due diligence
Minimizing minus equity
Get the right unit
Seven tips for the future
Happy New Year
Financing how
What the banks think
There is a middle road
Secondary is more interest
Over the barrel
Secondary isn’t buy here pay here
Fix or repair
What does the track record say?
What does the budget think?
Trade with or without fixing
Besides the repair, what’s changed?
Equity or minus equity?
Due diligence can help you decide
Industry advertising story
Hacking update
Dealer ad surprises
Crazy Year end ads
Always crazy
Rebate vs 0%
Disclosures
Radio, TV, newspaper
Vague or complete stories
Bait and switch
Must finance with us
Ridiculous trade in values, are
Employee pricing
Surprises can be thousands
Hard ball ads indicate ethics
Ethics indicates results
It doesn’t get better, it’s a culture
Avoid the bad ads
Look for dealers that advertise what they offer other than price
Comparisons and finance planning
Magazines can miss the mark
Complete guides are a better bet
Compare ALL the facts
0ne price factory selling
What rate?
What determines the rate?
Term and vehicle age
Know your credit score first
Shop 4 banks, at least
Compare the sub-vented to the rebate with your bank
Reserve is an issue
Used is a rate hike
Check it out
Tips for used success
The vocabulary of leasing
- Rebates and price
- Discounts by the factory
- Factory sponsored has no effect
- Interest rate vs factor
- Divide or multiply by 2400
- Current lease or trade
- So many advantages?
- Understand the terminology
- Acquisition, inception, termination
- Guaranteed resale value
- Capitalized cost
- residual
- sign and drive
- Open end
- Closed end
- Wear and tear
- Mileage counts
- Term is important
As is Means you are on your own
Do all of the security
There aren’t many short cuts
Good buying requires a little elbow grease
What qualifies as Luxury ?
Safety is tops
The latest High tech
Resale is still #1
Power, quality, technology
More affordable
Leases may be best
What affects luxury resale
Big price, big savings
CPO no, used maybe
Due diligence in required
There is more after the purchase
Crooks in Georgia
More crooks
Winter driving concerns
Review all the numbers
Review the Monroney Label
Read the manual
Register your tires
Used must register with the manufacturer
Used vehicle extras
Sealant, upholstery guard, mud flaps
Extras you should get
The bag in the trunk
Leasing worries less
If a better deal shows up
Maximizing Truck value
What to buy?
Resale is in cahoots with quality
Merging the worst
Used vehicle giants
Up to zillions off
Interest rates grow
The box size
Transmission and resale
Engine, bigger is usually better
4x4 = $x$ Keeps on giving
Know exactly what you need before you look
Finance is a bigger factor now
Used trucks compared to new
Carfax always
Check for Flood vehicles
Odds and ends review
- Tires at the manufacturer or the auto dealer
- Michelin
- Assertive is a key, not aggressive
- Car hacking
- Follow a hacking plan
- In person please
- Trade shopping
- Enough quotes?
- Not your friends
- Fee or no fee?
- Your name is enough
- Payment calculator
- Always Car-fax or Auto-check, flood check, dealer repair order
F&I purpose
Dealer F&I profits rage to a $1700 average
The peaks are $3500
Payment packing is getting worse
Autonomous may not be possible right now
What to do with F&I
No to everything can be as bad as yes
Geographic add-ons help resale
OEM add-ons
Dealers use add-ons
Prepaid maintenance
Life and A&H
Motorcycle add-ons
Truck add-ons
Always the factories Extended warranty
You can shop all of it before you buy
Plan and price add-ons before you get to the dealership
Getting yours ready
- Off lease means look thoroughly
- Out of warranty? Try anyway
- Selling it any method
- Know why you are selling
- What you should verify and know
- Trade wise
- Retailing pays
- Trade or not to trade
- Preparation is the same
- Know what you are trading
- Deal first, trade second
- Research it all
- Getting it ready pays off
- Four or five times what you spend
- No matter what you are trading
- What you owe versus trade
- Resale value is a big part
Credit scores, Off lease and Price labels
What the pricing label mean
Getting your credit score
Buying long distance
You can do it
Off lease or rental
Maintenance could be lacking
Check it thoroughly
Get the right info
What’s a deal?
Labels
Monroney matters
Watch out for double Monroney
What the label can tell you
Comparing your diligence
Additional Information
Addendum label types
Buyers guide
Used labels for equipment only
MSRP for proper comparison
OTD is all that counts
Repos, Rebates and Flood vehicles
They can take it without warning
No damage allowed in most states
Get it back quick, maybe
You will get your stuff
Rebate vs finance
Have a payment calculator
Check every time
Resale is still king
Left over for a reason
They are everywhere
Avoiding a flood unit
Beware of location
Areas to identify
Don't be price blind
Large auto groups as well
Luxury vehicles are included
Electric is out
Whirlwind buying
Super cruise and drowsy
675 7to 725
If you don’t care
Buyer beware when rushing
Diligence in a hurry
Phone and Internet
A one-price store?
One day
Be assertive, not aggressive
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
Financing any situation
Dealer fee lawsuit
Dealer fee is just more profit
Write to congress
credit sources.
Beacon scores and how they relate
More down payment can help
What's the quality?
Buy here pay here
Churning
Laws that help
What states should do
Secondary finance sources are better then BHPH
Get some testimonials!
You can shop!
After you shop banks, see what the dealer can do
Average credit can get a better call by shopping
Motorcycle diligence
OTD question
Prior damage
Why 36 month leases?
Motorcycle buying
Some things just can’t be skipped
Quotes.
Motorcycles are the same, except
Price can very even more
Insurance can be huge
Where matters
Tire dates are paramount
New or used?
Extended warranties even more
Resale is still king
First time financing
Magazine ratings are more about brand
Electric is your decision
More risk, more rate
Know your budget
Know your basic needs
Finance first, buy and negotiate second
Financing has many sources
Referral letters will help
Cosigner is king
Improve the risk
Use the cash for a low price used
Buy here pay here but last
Ready to deal
Monroney is real
Small SUV
Brand is paramount
Great negotiating requires great due diligence.
Don't be rude or angry, assertive not aggressive.
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Always hold your lips together tightly and listen.
Don't acknowledge the price anchor.
Don't take the other people's position or attitude personally
ACV verses allowance.
Either way works but one at a time works best
In a perfect world
Education is ammunition.
What about Electric?
Even Consumer Report misses sometimes
Under $5000 condition and title are kings
Lack of minerals will affect electric vehicles
Kinds of vehicles
Hybrid
Plug in Hybrid
Total electric
Low limits
Finding a power source
Cost is huge
maintenance happens on all
Resale is a guess but my bet is poor
Environmental questions
Over a 100,000 miles cost difference
Research online before you deal
Monroney, labels and online buying
Buying tips? Watch out
Know your needs
The internet for today's deal.
Get the facts and leave the rest.
Book prices and shop it
Bank rates and terms
Internet quotes.
Assertive not aggressive
Safety sites
Background check
Beacon
Advertising is a key reference
BBB
Go in armed with the facts
More used buying used and where
Buying an inexpensive (cheap) used vehicle
Priorities vary by price
Clear title is always number 1
A list of considerations
Low dollars is about condition
Banks always play a part
Picking a seller is paramount
What do the ads tell you?
How will they handle a problem
Look at the amenities
Bigger isn’t better
Location often makes a difference
The used vehicle deal:
Collision insurance, yes or no
Electric update
Is used buying different than buying new?
Pricing separate from choice
Resale still plays a role
Guides to pricing
You need wholesale and retail
Selection woes
Dealer considerations
Special reports can help
Basic needs
Looking it over
Check for flood signs
More due diligence
List of ten keys
Even more banks
Three offers
Don’t be afraid to walk
OTD and months, rate, amount
It all matters
What about your trade?
The do nots of buying
End model, big discount
Turn in yours
The do not’s
A list to remember
Extra leasing
Pick one out without terms
Always test drive
Think about the future, fit, your needs, resale value, etc.
Bank first, deal later
Never talk payments until you are prepared
Always, Carfax/Auto check
Never give up
Stick to Deal Talk
Credit score tips and the one price dealer
Motive and resale
Credit score
Score factors
What hurts credit
Fixing your score
True one price is a culture
Why one price
Lower overhead and better averages
Customer satisfaction is not the reason
2+2 is not 5
Negotiating is a happier customer
Usually the higher average
Don't let your guard down
Due diligence is the key
OTD and CPI
Deciphering dealer advertising
Choose your roadster
Tire thoughts
Bait and switch
Radio, newspaper, magazines, TV, social media, other internet
Ridiculous trade values
No matter what you owe
Multiple rebates
Employee pricing, means what?
Disclosures
Plus everything
FTC will help eventually
Not a single number matters
A dealer’s ads uncover their ethical character
Nothing else matters but OTD and CPI
Buyer’s almanac
- Upside down brand comparison
- When is a big factor
- Post-holiday
- Weather can be on your side
- Week day
- Last or 32nd,
- Time thoughts
- Morning, noon or evening
- New model or left-over
- Two year late model used
- Oddity of design change
- When not to buy? 0
- Leasing is similar
- Use what is available
Resale value facts
No nitrogen
Texting is against the law
Seasonal concerns
Resale value is truly the king
Upside down vs resale value
Is resale part of the deal?
Maybe year round
Biggest cost, considered the least
What seems like a good deal, maybe not!
Predictable resale?
What affects resale?
How to protect resale
What are all the factors?
You can control some of it
Always consider brand resale
Lemon law and deal definitions
All states have one
All states are different
Arbitration could be available
Federal lemon law is the Magnuson-Moss act
FTC new or used
Effort equals results, as everything
The main concepts
OTD is king
CPI every payment
Upside down/minus equity
ACV vs Trade in allowance
Trade value preparation
What cash?
Same exact vehicle
Assertive
Why list vs price
Focus on what matters
A few more
Preparation
Review is good
Getting your paperwork
Huge upside down
After the testing prep
Get quotes
What you might say
Ad blocker
Beacon
Calling Banks
Insurance
Add-0ns
Check the amenities while testing
The considerations when you're picking a dealer
Treatment does not get better
No substitute for due diligence
Have you ever been this ready
Leasing facts:
Does it make sense
Flexible terms
Resale guard
Peace of mind
More Choices
Keep it, buy it, trade it or walk away
More vehicles in 10 years
No repair
Tax?
Mileage is a plan either way
Payment packing unclear
You have rights
Still due diligence
Keep your trade dollars
If your deal has a problem
Automobile Advice can often be wrong
Leasing is still a great way
Three questions for reading
Due diligence, due process
Salesperson, Manager, Dealer principal or GM
Manufacturer (Company.com) and the bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC (federal)
UDAP statutes will help
Attorney last
Assertive and persistent, not aggressive
Insurance Story
- Extended warranties question
- Factory plans only
- New or used
- Car, truck, motorcycle, motor home or boat, Insurance is part of the process
- Just because they look like the least expensive
- 700 companies 2 billion quotes
- It's not about your driving record first
- Credit is paramount
- Loyalty when?
- Teen dollars
- What bundle
- Discounts that never happen
- Shop everything
Finance department tales
Reserve payments from finance is world wide
Buying a vehicle is 2 or 3 times the stress
There is more than the vehicle
Business office is about $
Bank commissions are huge
Shop all the products
Don’t be a lesson
Shop 4 banks
Payment packing is a real issue
Review your payment before you start
CPI every time
Spot delivery maybe not
Extended time to the first payment isn’t free
Be prepared
Minus equity, why it happens and what to do
Multiple lease deposits
Credit approval help
Stick to sign and drive
Minus equity, under water, upside down
Why does it happen?
Know where you are
Type 1, type 2 and type 3
Big dealer profits = minus equity
Bad resale = minus equity
Long term loans = upside down
Budget can rule but know the facts
How do you avoid it?
Resale value counts big
In the future, eight tips
What about factory certified preowned
Careful with what you read online.
Read all the material for a specific certified.
Check points sound huge.
Just another way to sel.l
Bank rates with CPO.
Certified can cost several thousand more.
Is it worth more?
Pay in advance for what might happen.
Low mileage and a clean car fax.
The book does not add for certification when you trade.
Prior certification does not add to resale value.
Language of leasing
- We all need a ride
- Subprime are tougher terms
- Better than buy here pay here
- Cosigner trumps everything
- Dealer secondary
- Credit score first
- Know the leasing terms
- 14 key phrases
- What can you negotiate?
- 6 you can negotiate
- What can’t you negotiate
- 4 you can’t
- What’s the best way?
Servicing and resale
Reminder of repair vs buy
Pre-approved or approve
After you take delivery
Consider the maintenance
Resale vs up keep
Service is all about money
Synthetic oil has a purpose
Clean, not replace
Tuning maybe
Brakes and hoses
Transmission is long term
Waxing, love bugs and acid rain
Fix it, buy it, finance it
Be aware of the recall law
A year old demo is another name for used
An auction vehicle is just another used
Fix the old or buy a new?
Compare ALL the facts
A lot to consider
What rate?
What determines the rate?
Term and vehicle age
Know your credit score first
Shop 4 banks, at least
Compare the sub-vented to the rebate with your bank
Reserve is an issue
Used is a rate hike
Check it out
Tips for used success
Where is the best value?
Dealer advertising
Oh, by the way
CR 2019 auto issue
Brand matters
Trade ready
TV, radio, newspaper, social media
New ways to bait and switch
Trying to help
Old story
More cons then pros
Disclosures
Head for the country
Radio or TV ads unclear at the end
The culture in all departments
It shows the heart of that dealer
My leasing adventure
- Cash reporting
- Preparation
- What vehicle
- Quote Persistence
- Current lease or trade
- Where’s the lease email?
- Dealers try to control
- Get an email
- Go up the ladder!
- Shop your trade and bump it
- Factory programs aren’t always available
- Be prepared to change makes
- Do it your way or move on
- Confirm the terms
- Make sure it is all in CPI
luxury highline
Brands are up to you
Test drives are paramount
What are Luxury vehicles?
Safety is key
High tech
Resale is #1
Power, quality, technology
More affordable
Resale leases best
Other things affect resale
Big price-big savings
CPO no, used maybe
Due diligence in required
After you buy
Rebate vs Finance
7% of the used vehicle buyers
Be careful dealing with individuals
Where did the internet department go?
Review the Monroney Label
Review all the numbers
Read the manual
Register your tires
Used must register with the manufacturer
Used vehicle extras
Sealant, upholstery guard, mud flaps
Extras to think about
The bag in the trunk
Leasing worries less
If a better deal shows up
Tips to remember
- Used vehicle rates
- Beacon score can be a line
- Cash is king but quietly
- Keep it to yourself
- In this case, use it
- Electronic control
- Be prepare for hacking
- In person please
- Trade shopping
- Enough quotes?
- Not your friends
- Fee or no fee?
- Your name is enough
- Payment calculator
Deal Talk Buying a truck
F&I profits
Example not a lesson
Used vehicle giants
Up to 16000 off
Interest rates grow
The box size
Transmission and resale
Engine
4x4 = $x$ Keeps on giving
Resale is king
Always OTD
Know exactly what you need before you look
Finance is a bigger factor now
Used trucks compare to new
Carfax always
Check for Flood vehicles
F&I products
Stats that mean something
If your quotes aren’t complete
No to everything can be as bad as yes
Geographic add-ons help resale
OEM add-ons
Dealers use add-ons
Prepaid maintenance
Life and A&H
Motorcycle add-ons
Truck add-ons
Always the factories Extended warranty
You can shop all of it before you buy
Do the planning and pricing of add-ons before you get to the dealership
Getting yours ready to trade or sell
- A few questions
- Buying from the public
- Why they are selling
- Be more diligent
- What you should verify and know
- Selling or Trading
- Retailing pays
- Prepare
- Trade or not to trade
- Know what you are trading
- Deal first, trade second
- Research
- Get it ready, it pays
- No matter what you trade
- What you owe versus trade
- Resale value is a big part
Flood vehicles
One man’s testimony
Deals are often reverse
Price may not mean anything
Resale is still king
Compact sales are down
Used car values haven’t changed much
They are everywhere
Avoiding a flood unit
Beware of location
Areas to identify
Don't be price blind
Large auto groups as well
Luxury vehicles are included
Electric is out
What the pricing means
Get the right info
What’s a deal?
How to get a better APR
Negotiating a lease
Dealer profits will get higher
Labels
Monroney matters
What the label can tell you
Comparing your diligence
Additional Information
Addendum label types
Buyers guide
Used labels for equipment only
MSRP for proper comparison
OTD is all that counts
When you are in a hurry
Subscription purchases
Loans and minus equity
Volvo, Cadillac, Porsche
If you don’t care
Buyer beware when rushing
Due diligence in a hurry but do it
Phone and Internet
A one-price store?
One day, use the entire day
Be assertive, not aggressive
Only count on what is in writing
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
Financing your credit
Losing the promises
Not time for Electric yet
Bad credit sources.
Ridiculous rates
Beacon scores and what they mean
50 percent or more, down payment
What's the quality?
Buy here pay here is tough
Churning
Laws that help
What states can do and the country should?
Secondary finance sources are better then BHPH
Get some testimonials!
You can shop!
Buying for the first time
GAC cars 2020
Leasing is still great
FTB woes
More risk, more rate
Know your budget
FTB, finance first, buy and negotiate second
Financing has many sources
Referral letters will help
Cosigners can trump everything
Improve the risk
Buy here pay here but last
Stick to the plan and motorcycle additions
UK sales drop
Internet costs more
SUVs replace sedans
Tempting concepts
Some things can’t be skipped
Quotes
Shopping the trade.
Face to face.
Don’t be fooled
Contacts and friends but verify.
Always in writing
Motorcycles are the same, except
Price can very even more
Insurance can be huge
Where matters
Tire dates are paramount
New or used?
Extended warranties even more
Resale is still king
Let’s make a deal
Questions on trade tax
Timing questions
The rebate story
Great negotiating requires great due diligence.
Being rude or angry does not work, assertive not aggressive.
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Always hold your lips together tightly and listen.
Don't take the other people's position or attitude personally
ACV verses allowance.
Either way works but one at a time works best
The best negotiating is no negotiating.
Education is the best ammunition.
Quick list.
Online due diligence
Good questions
Comparison on used
Mileage allowance and months
Belong to a credit union
The internet for today's deal.
Get the facts and leave the rest.
Book prices and shop it
Bank rates and terms
Internet quotes.
Assertive not aggressive
Safety sites
Background check
Beacon
BBB
Go in armed with the facts
Electric vs gas
Emails and calls
When to mention your trade
Compare financing even at 0%
Lack of minerals will affect electric vehicles
Kinds of vehicles
Hybrid
Total electric
Low limits
Finding a power source
Cost is huge
Resale is a guess but my bet is poor
Environmental questions
Over a 100,000 miles cost difference
restocking the pond
The don’ts of buying:
Payment packing at the factory level
Listener's questions
The definitely don't do
Twenty seven points to remember
Six extra leasing
Never talk price while picking
Always test drive
Think about the future, fitting needs, resale value, etc.
Never deal without talking to the banks first
Never talk payments without the factors
Always, auto check
Never give up
All in all, stick to Deal Talk
One price is about the dealer
What’s GM talking about?
The market slows
Banks hold back the terms
Indirect financing equals satisfaction
Shopping your vehicle is paramount
True one price is a culture
Why one price?
2+2 is not 5
Negotiating is a happier customer
Usually the higher average
Don't let your guard down
Due diligence is the key
Lower overhead and better averages
As always, OTD is the answer
The what and how of buying used:
You know where
Is used buying different than buying new?
Pricing techniques
You need wholesale and retail
Less picky
Dealer considerations
Special reports can help
Basic needs
Take your time looking it over
Check for flood signs
More due diligence
List of ten keys
Even more banks
Figures that help you figure
Three offers
Don’t be afraid to walk
OTD and months, rate, amount
It all matters
Resale is always a factor
What’s good about dealer advertising
Never say, never
Trade shopping is huge
Common bait and switch
Radio, paper, TV, social media
Multiple rebates
Ridiculous trade values
No matter what you owe
Employee pricing, what?
Disclosures
Plus everything
FTC will help eventually
Not a single number matters
Ads show a dealer’s ethical character
Nothing else matters but OTD and CPI
The biggest factor, resale value
Winter prep
Resale value is truly the king
Maybe year round
Upside down vs resale value
Is resale part of the deal?
What seems like a good deal, maybe not!
Biggest cost, considered the least
What affects resale?
Predictable resale?
What are all the factors?
How to protect resale
You can control some of it
Part of the due diligence
When matters
- When is the question
- States with highest
- States with the lowest
- Buying out of state could mean thousands saved
- Upside down/resale value % counts
- Use every advantage possible
- Post-holiday
- Week day
- Last or 32nd,
- Time of day thoughts
- Morning, noon or evening
- New model, left-over, 2 year used
- Oddity of design change
- Leasing is similar
Rules and definitions
F&I profits are going up
Don’t get shut out
How much due diligence?
Effort equals results, as everything
The main concepts
OTD is king
CPI every payment
Upside down/minus equity
ACV vs Trade in allowance
Trade value preparation
What cash?
Same exact vehicle
Assertive
Why list vs price
Focus on what matters
A few more
Preparation
GM bumper to bumper option
$2000 up to the dealer
Recently bankrupt?
After you have picked, what's next
Ads won't help you
Getting online quotes
What you might write
Where for Beacon
Bank info
Call insurance
After market research
Check the amenities while testing
Have you ever been this ready?
The considerations when you're picking a dealer
What about the chain stores?
Selection does not equal value
Bureaucracy can get in the way
Online sellers, another mouth to feed
Make a list
No substitute for due diligence
Leasing facts
Flexible lease
Payment packing unclear
Does it make sense?
Peace of mind
So many points
More vehicles in ten years
No repair
Tax advantage
You have rights
Still due diligence
Keep your trade dollars
Odometer problems, you win
Odometer laws apply to everyone
OTD means everything included
If something is wrong in your deal
Due diligence, due process
Salesperson, Manager, Dealer principal
Manufacturer
The bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC
UDAP statutes
Attorney
Assertive and persistent, not aggressive
Lease, rent or purchase choices
- Refundable deposits
- Returning your purchase
- Subscriptions
- Buying short term
- Balloon
- 36 months or less only
- None or little maintenance
- Mileage allowance
- Resale matters
- Choices, trade sell or buy
- Tax advantage
- Peace of mind
- Due diligence research
- Multiply or divide by 2400
- Shop sign and drive
- Ten year ownership can be the best
- Four or two in ten
- Mortgage possibility
Talking F&I:
In Utah
Pricing on a lease
Budgeting new or used
The business office is about money
Bank commissions are huge
Shop the rates
Shop all the products
Don't be at the top of the profit average
Review your payment before you start
Payment packing is a real issue
Get the break down every single time
Be sure you are approved before you take delivery
Ninety days to first
Preparation is the key
What about factory certified pre-owned
Another supply of flood vehicles
Take your time and look at everything
States are trying to save the CFPB rules
Another quality and crash test by CR
100-300 point checks
Another market for the dealer
Bank rates are comparable
It's far from free for anyone
Certified can cost several thousand more
Pay in advance for what might happen
Low mileage and a clean car fax
The book does not add for certification when you trade
Prior certification does not add to resale value
The what, why and how of upside down.
Average monthly payment is peaking for new and used
Stick to the play to keep the payment in line
2 Million in fines is an example we need
Upside down, minus equity, under water
What can you do?
Know where you are
Type 1, type 2 and type 3
Bad resale = minus equity
Long loan terms = minus equity
Big dealer profits = minus equity
Minimizing the chances, if you can
Resale value counts
In the future, 8 tips
Preparing buy or lease
- Preparation first
- Confidence comes from knowledge
- Choosing the right one
- Know your choices
- Make, model, MSRP
- Which dealer?
- Online info, assertive, not aggressive
- Bank questions with your beacon
- Know your trade book value and shop used dealers
- Do your trade separately is you can, two chances to sweeten the pot
- Include leasing
- Know what the terms mean
- OTD first
- Payment calculator is important
- Complete it all before negotiating
Financing new or used
Teen vehicle plan
Lease advertising bologna
Shop sign and drive
What rate?
What determines the rate?
Term and vehicle age
Know your credit score first
Shop 4 banks, at least
Compare the sub-vented to the rebate with your bank
Reserve is an issue
Depreciation is more than interest
Used is a rate hike
Check it out
Tips for used success
Where is the best value
Other considerations
Dealing luxury
Rebates totals are huge
Zero percent is down
What are Luxury vehicles?
Safety is key
High tech
Resale is still king
Power and quality
More affordable then you think
Consistent resale = attractive lease
Other things affect resale
Big price-big savings
CPO no, used maybe
Due diligence in required
Resale and Maintenance
We have saved people millions
Honda picked best overall
FTC takes on dealer financing tricks
Consumer report is almost right
The day after delivery
Review maintenance after you buy
Resale without expense
Service is another $ sign
Synthetic oil's point
Most Filters can be cleaned, not replaced
Tune-ups only when needed
Be aware of symptoms for brakes and tune ups
Transmission is long term
Waxing, love bugs and acid rain
Those crazy ads and gimmicks
New ways to get you in
Trying to help
Edmonds
US news
Old story
More cons then pros
Bait and switch
Disclosures
Head for the country
Radio ads unclear at the end
The culture in all departments
It shows the heart of that dealer
Questions and answers
Monroney like pricing around the world
Option prices and standard equipment lists
10 points on a label
Remove and replace
Diesels are old school
Everything costs more
Commercial use
Salvaged for sale
Title marked
Repaired for resale
Half price
Risky
As-is or junk
Just a disclosure not a title mark
Insurance loss protection
Starts with resale
Quality
Gap
Question every offer using due diligence
What to do when the deal is done
Consumer report fees edition
I had a lot to say
With lots of choices, stick to the high resale brands
Some brands don’t have good resale no matter what
Review the Monroney Label
Review all the numbers
Read the manual
Register your tires
Used must register with the manufacturer
Used vehicle extras
Sealant, upholstery guard, mud flaps
Extras to think about
The bag in the trunk
Leasing worries less
If a better deal shows up
Buying from the public and ready your Trade in
- Buying from an individual
- Why they are selling
- What you should verify and know
- Trade
- Retailing pays
- Trade or not to trade
- Know what you are trading
- Deal first, trade second
- Research
- Get it ready pays
- No matter what you are trading
- What you owe versus trade
- Resale value is a big part
Adding options from the F&I office
No Internet companies for due diligence quotes
Use your market
No to everything can be as bad as yes
Geographic add-ons help resale
OEM add-ons
Dealers use add-ons
Appearance
Prepaid maintenance
Life and Accident insurance
Motorcycle add-ons
Truck add-ons
Always the factories Extended warranty
You can shop all of it before you buy
Do the planning and pricing of add-ons before you get to the dealership
Deal Talk Trucks
Automotive world laughs about CFPB
Subaru gets caught
Up to $16000 off
Used deal, maybe not
The box size
Cab counts
Transmission matters
Engine power pays
4x4 = $x$ Keeps on giving
Resale is king
Always OTD
Know exactly what you need before you look
Finance is a bigger factor now
Used trucks compare to new
Auto Check or Car Fax, always
Check for Flood vehicles
Deal Talk 149 New and used vehicle labels
Arbitration is binding
Dodd-Frank repeal
Higher finance mark ups
Dealer profits will get higher
Shop the rates
Think MPG
Labels
Monroney matters
Additional Information
Addendum types
Buyers guide
Used labels
MSRP for proper comparison
OTD is all that counts
BALLOONS AND FLOODS
Balloon loan types
No guarantees
Only sound like a lease
Starting low and ending high
Refinance blues
Long-term alternative
They are everywhere
Avoiding a flood unit
Beware of location
Areas to identify
Don't be price blind
Low payment savvy
Long term maybe
Dealing when you're in a hurry
Where is the data?
Which SUV equals resale
Sales and F&I are up everywhere
Buyer beware when rushing
Due diligence in a hurry but do it
Phone and Internet
A one-price store?
One day, use the entire day
Be assertive, not aggressive
Only count on what is in writing
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
More about credit
The eight no trade credit states
Bad credit sources.
Ridiculous rates
Beacon levels
50 percent or more, down payment
What's the quality?
Buy here pay here is tough
Churning
Laws that help
What states can do and the country should?
Secondary finance sources are better then BHPH
Get some testimonials!
Old credit cards
You can shop!
First Time Buyer
Dealer reserve payments are going up
CFPB help is ending
Dealer fee is another profit
More risk, more rate
Know your budget
FTB, finance first, buy and negotiate second
Financing has many sources
Referral letters will help
Cosigners can trump everything
Improve the risk
Let the dealing begin
The news about the CFPB arbitration rule, protect it.
Fees are a con
Great negotiating requires great due diligence.
Being rude or angry does not work, assertive not aggressive.
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Always hold your lips together tightly and listen.
Acknowledge and ask for more.
Don't take the other people's position or attitude personally
ACV verses allowance.
Either way works but one at a time works best
The best negotiating is no negotiating.
Education is the best ammunition.
Quick list.
When the research is finished
One percent more
Off lease tidal wave
Auto complaints are second to one
Forget the ads
Baiting the buyer
Swapping terms
Packing
No spot delivery
Know your beacon
Never today only
Sales pressure
Don't be afraid to walk
Online research is paramount
FTC and what it does update
Tesla electric
The Internet for today's deal.
Get the facts and leave the rest.
Book prices but stiff shop it
Bank rates and terms
Internet quotes. Assertive not aggressive
Safety sites
Background check
Beacon
BBB
Go in armed with the facts
Electric and gas
Serious Upside down
Negotiate the finance
Focus on the purchase first
Separate loans
Remember the anti upside down list
Types of electric vehicles
Hybrid
Total electric
Low limits
Finding a power source
Cost is huge
Resale is a guess
Environmental questions
Don’t do it:
The definitely don’ts and a few do’s
A 25 list to remind you
Never talk price while picking
Always test drive
Think about the future, fitting needs, resale value, etc.
Never deal without talking to the banks first
Never talk payments with facts
Always, auto check
Nineteen more
Six Leasing don’ts
Never give up
All in all, stick to Deal Talk
One price is about the dealer
Shopping your vehicle is paramount
True one price is a culture
Why one price?
2+2 is not 5
Negotiating is a happier customer
Usually the higher average
Don't let your guard down
Due diligence is the key
Lower overhead and better averages
As always, OTD is the answer
Selling your own vehicle
Make sure the advice is worth listening
Congress and autonomous
Dealers educating the public
Trading in sale
Out-right to a dealer
Selling yours retail
First impressions are everything
Cosmetics are key
Fix the noises
They’re all worth doing
Locate the title
Know you pay off
Get a car fax to be ready
Prepare for upside down
During the process be prepared
Talk about the strengths
Advertise everywhere
The quick list
Used vehicle buying:
Lease deal news
Online sales companies and a garage
Is used buying different?
Pricing techniques
You need wholesale and retail
Less picky
Dealer considerations
Special reports can help
Basic needs
Take your time looking it over and check for flood signs
More due diligence
List of ten keys
Even more banks
Figures that help you figure
Three offers
Don’t be afraid to walk
OTD, months, rate, amount and any required down payment
It all matters
Resale value is king
Bank kickbacks, aka reserve payments, are on their way out, maybe
Auto loan Debt is the highest ever
Upside down and resale value?
Is resale part of the deal?
What seems like a good deal, maybe not!
Biggest cost, considered the least
What affects resale?
Predictable resale?
What are all the factors?
How to protect resale
You can control much of it
Part of the due diligence
Advertising tells a story
AutoNation $
Upside down may be easier to finance
Common bait and switch
Radio, paper, TV, social media
Multiple rebates
Ridiculous trade values
No matter what you owe
Employee pricing, what?
Disclosures
Plus everything
FTC will help eventually
Not a single number matters
Ads can show the ethical character
Nothing else matters but OTD and CPI
When
- Tesla in space
- Track the CFPB
- Subprime leasing is a lock
- Use every advantage possible
- Post-holiday
- Week day
- Last or 32nd,
- Time thoughts
- Morning, noon or evening
- New model, left-over, 2 year used
- Oddity of design change
- Leasing
Stick to the plan
Companies can get off track
Military lending
Robert’s questions
Why shop the trade?
Why so many quotes?
In person matters
Get it all not just a little
You have to want it
Due diligence even with connections
When a tie go with no fee
Only give the info they need
Only except the facts
Important definitions and guidelines
CFPB guidelines support
Dealer kickbacks could go crazy
How much due diligence?
Effort equals results, as everything
The main concepts
OTD is king
CPI every payment
Upside down/minus equity
ACV vs Trade in allowance
Trade value preparation
What cash?
Same exact vehicle
Assertive
Why list vs price
Focus on what matters
A few more
Preparation including where
After you have picked, what’s next
Ads won't help you
Getting online quotes
What you might write
Where for Beacon
Bank info
Call insurance
After market research
Check the amenities while testing
Have you ever been this ready?
The considerations when you’re picking a dealer
What about the chain stores?
Selection does not equal value
Bureaucracy can get in the way
Online sellers, another mouth to feed
Make a list
No substitute for due diligence
End of the year savings may hurt not help
Forty percent?
Domino effect
Keep it manageable
Dealers don't post resale values
Get all of the info you can
Would buy again list
Would not buy again
Most reliable list
Don’t buy list may be the best
Fabulous 10
What does it all mean?
Ratings help outline a test drive
Resale value is king, protect yourself
Use Deal Talk to limit the possibilities
Just Leasing
More dealers get caught
Big magazines, small facts
Does it make sense
Peace of mind
So many points
More vehicles in 10
No repair
Tax?
You have rights
Still due diligence
Keep your trade dollars
When there's a problem
The legal alternatives
Calls and emails
CPO story
If something is wrong in your deal
Due diligence, due process
Salesperson, Manager, Dealer principal
Manufacturer (Company.com) and the bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC
UDAP statutes
Attorney
Assertive and persistent, not aggressive
Fines for the wicked
Distractions for a driver
Upside down story
Why
What can you do
Type 1, type 2 and type 3
Bad resale = minus equity
Minimizing if you can
In the future
8 tips
Lease or Buy and the reasons why
- Facebook dealer tools
- Subscription buying foggy
- What are the methods to get a vehicle?
- Buying short term
- Balloon
- 36 months or less only
- None or little maintenance
- Mileage allowance
- Resale matters
- Choices, trade sell or buy
- Tax advantage
- Peace of mind
- Due diligence research
- Multiply or divide by 2400
- Shop sign and drive
- Ten year ownership can be the best
- Four or two in ten
- Mortgage possibility
CPO reviews
Always question any repair
Just like deposits, not much recourse
Bad ads can be any kind of motor vehicle
In the ad or left out
100-300 point checks
Another market for the dealer
Bank rates are comparable
It’s far from free for anyone
Certified can cost several thousand more
Pay in advance for what might happen
Low mileage and clean car fax
Resale only counts the vehicle
Preparing for F&I :
Deposits refunds
Buyer’s remorse
F&I profit numbers
The business office is about money
Bank commissions are huge
Shop the rates
Shop all the products
Don’t be at the top of the profit average
Review your payment before you start
Payment packing is a real issue
Get the break down every single time
Be sure you are approved before you take delivery
Ninety days to first
Preparation is paramount
- FTC lands the same dealer group
- Longer term is never good
- Preparation first
- Confidence comes from knowledge
- Choosing the right one
- Know your choices
- Make, model, MSRP
- Which dealer?
- Online info, assertive, not aggressive
- Bank questions with your beacon
- Include leasing
- Know your trade book value and shop used dealers
- Do your trade separately is you can, two chances to sweeten the pot
- Complete it all before negotiating
Financing New or used
Black Friday
Auto shows tell a story
What rate?
What determines the rate?
Term and vehicle age
Know your credit score
Shop 4 banks, at least
Compare the sub-vented to the rebate with your bank
Reserve is an issue
Depreciation is more than interest
Used is a rate hike
Check it out
Tips for used success
Other considerations
Diesel, salvage and those crazy ads
Accord vs Camry runoff
CFPB rule gets squashed
Diesel choices
Old story
More cons then pros
Salvage
Price vs risk
Bait and switch
Disclosures
Head for the country
It shows the culture
Avoid all the ads
OTD and due diligence are your protections
Is a Luxury deal different?
In the news
Patreon page news
What are Luxury vehicles?
Safety is key
High tech
Resale is still king
Power and quality
More affordable then you think
Consistent resale = attractive lease
Other things affect resale
Big price-big savings
CPO no, used maybe
Due diligence in required
Maintain resale
Last week’s review
Read the warranty small print
96 months
The day after delivery
Review maintenance after you buy
Service is another $ sign
Synthetic oil’s point
Most Filters can be cleaned, not replaced
Tune ups only when needed
Be aware of symptoms for brakes and tune ups
Transmission is long term
Waxing, love bugs and acid rain
There is more to do
Trade-in review
Let congress know for CFPB
Autonomous ethics?
Resale needs your help
Review the Monroney Label
Review all the numbers
Read the manual
Register your tires
Used must register with the manufacturer
Used vehicle extras
Sealant, upholstery guard, mud flaps
Extras to think about
The bag in the trunk
Leasing worries less
If a better deal shows up
Trading Talk
- Reviewing what to buy, after the sale
- Where and what question
- Trade
- Retailing pays
- Trade or not to trade
- Know what you are trading
- Deal first, trade second
- Research
- Get it ready pays
- No matter what you are trading
- What you owe vs trade
- Resale value is a big part
Why, how and what to add on:
Last weeks truck points
In the news, over a trillion in auto debt
Geographic add-ons help resale
OEM add-ons
Dealers use add-ons
Appearance
Prepaid maintenance
Life and Accident insurance
Motorcycle add-ons
Truck add-ons
Always the factories Extended warranty
You can shop all of it
Do the planning and pricing of add-ons before you get to the dealership
Last weeks news
What stickers?
News
Factory plans only
Resale keys
Cab
The box size
Transmission matters
Engine power pays
4x4 = $x$ Keeps on giving
Resale is king
Always OTD
Know exactly what you need before you look
Senior help
Benefitcheckup.org
Clopp.org
Stillruns.com
Centerforcardonations.com
Needhelppayingbills.com
Workingcarforworkingfamilies.org
Flood vehicles and dealer labels
Last week on steroids
Avoiding a flood unit
Beware of location
Areas to identify
Don’t be price blind
Ads that tell the story
Low payment savvy
Long term maybe
Ellen’s question
Factory sticker
Same vehicle, same sticker
Ad-on label
One price
Used vehicle buyers guide FTC
If you don’t have time
Last week’s news
F&I is up everywhere
A million totaled in the storm
Buyer beware
Due diligence in a hurry but do it
Phone or internet
A one price store?
One day, use the entire day
Be assertive, not aggressive
Only count on what is in writing
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
Poor credit sources
Last week and in the news
Don’t be fooled by $12000 off
Attorney General at work in NY
Bad credit sources.
Ridiculous rates
90 days to first.
Pick payments.
50 percent or more, down payment
What’s the quality?
Unwritten rule
Churning
Laws that help
What states can do and the country should?
Secondary dealership and finance company sources are better
Get some testimonials!
You can shop!
First Time Buyer
Review the last
CFPB rules must stay
Negotiation is an involved process
More disclosure than ad
Depreciation is the Primary
More risk, more rate
Know your budget
FTB, finance first, buy and negotiate second
Financing has many sources
Cosigners can trump everything
Improve the risk
Buy here pay here may be the last choice
Wheelin’ and Dealin’
Last week’s review.
The news about the CFPB arbitration rule, protect it.
Rates are down a bit might be a good time.
Great negotiating requires great due diligence.
Being rude or angry does not work, assertive not aggressive.
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Always hold your lips together tightly and listen.
Don’t acknowledge the price anchor.
Don’t take the other people’s position or attitude personally
The difference between the ACV and allowance.
Either way works but one at a time works best
The best negotiating is no negotiating.
Education is the best ammunition.
Quick list.
When you’re ready
Reviewing the week
Questions from other countries
Last week about the internet
Electric cars
Costs are out of whack
Forget the ads
Swapping terms
Packing
No spot delivery
Know your beacon
Never today only
Sales pressure
Don’t be afraid to walk
The power of online research
Last week’s review.
The do’s and don’ts lists
Wells Fargo news
Tesla model 3 $
840 horse
When it comes to cost of ownership Resale value rules
Internet and today's deal.
Get the facts and leave the rest.
Book prices, car fax, bank rates and internet quotes.
One magazine that will help
Go in armed with the facts
Do's and don'ts review:
The news
Last week buyer to seller
Selling your vehicle has many fassets
Trade in tax savings has a few exceptions
Gap news
Before and after
The best deal requires due diligence in advance
The definitely do's and definitely do nots
A 25 list to remind you
Leasing do’s and do not's
All in all, stick to Deal talk
From buyer to seller
Weekly review
CPO rates
One price dealers…NOT
500 lbs
AI worries
Selling your vehicle
Trade or retail, make up the tax
Appearance is key
Mechanical helps
Never too much information
Where’s the title
Equity or minus?
Prepare the financial
Advertise
Be careful
Negotiate properly
Fixed price dealers,
Is one price right for you?
Prior week review
CPO Factory financing
Resale review
Car fax for the bank
Buying used key points
Why one price
2+2 is not 5
Usually the higher average
Don’t let your guard down
Due diligence is the key
It’s all about low overhead for the dealer
As always, OTD is the answer
Used vehicle purchase:
Resale review
Upside down stats
No to internet sales
Is used buying different?
More due diligence
Your proof
Figures that figure
Three offers
Don’t be afraid to walk
OTD and months, rate, amount
Everything is key
Resale Value is paramount
UDAAP review
More stats
Upside down and resale value?
Is resale part of the deal?
What seems like a good deal, NOT!
Biggest cost, considered the least
What affects resale?
Predictable resale?
What are all the factors?
You can control much of it
Part of the due diligence
The FTC can help
Last week crazy ads
Not a single number
Stats 69 months
Ad downs are not the average
5 % vs 7.63%
UDAP
UDAAP
Federal trumps local
You have a way to make things right
Consumer protection is alive and well
Your state’s interpretation
Bigger fines to curb abuse
Follow the chain of command
http://www.nclc.org/images/pdf/udap/analysis-state-summaries.pdf
Advertising and you
Last week
Episode 100
Interview
Bait and switch
Radio, paper, TV
Multiple rebates
Crazy trade values
No matter what you owe
Employee pricing, what?
Disclosures
Plus everything
FTC will help
Identify the good ones
Nothing else matters
100 episodes, still more
- Last week When
- Franks fortune
- One percent story
- Angela speaks
- Never a shopper
- Why shop the trade?
- In person matters
- Get it all not just a little
- You have to want it
- When a tie go with no fee
- Only give the info they need
- Don’t take estimates, only facts
When
- Where, how, what, why
- Frank’s story
- Yearly
- Climate change
- Post-holiday
- Week day
- Last or 32nd
- Time thoughts
- Morning, noon or evening
- New model, left-over, 2 year used
- Oddity of design change
- Leasing
Key Vocabulary
Review where to buy
Huge F&I profits
Is it worth the effort?
How much due diligence?
Guaranteed results at a level equal to effort
The main concepts
OTD is king
What cash?
Same exact vehicle
Trade value preparation
ACV vs Trade in allowance
Assertive
Why list vs price
Focus on what matters
Final rules
Compare for where
- Review Deal has a problem
- Check the amenities while testing
- The considerations when you’re picking a dealer
- What about the chain stores?
- Selection does not equal value
- Bureaucracy can get in the way
- Online sellers, another mouth to feed
- Make a list
- No substitute for due diligence
Steps to part one
Review the minus equity
Dot Gov information
Ads won’t help you
Getting online quotes
What you might write
Where for Beacon
Bank info
Call insurance
After market research
The right warranty
Have you ever been this ready?
If your deal has a problem
Minus equity review
Repair bill stat
CPO lease
What kind of went wrongs
Due diligence, due process
Salesperson, Manager, Dealer principal
Manufacturer (Company.com) and the bank
Better business (BBB.org)
Attorney general (your state.gov/attorney general)
FTC and UDAP statutes
Attorney
Assertive and persistent, not aggressive
Handling minus equity
Review finance office
In the news FTC used vehicle label changes
Rate changes
Aka, under water and minus equity, upside down
Why it happens
What to do
Type 1 and type 2
Resale = minus equity
Minimizing if you can
Tips for the future
F&I aka Business office review:
The news
Morgan Stanley weighs in
Last week finance and buying a used
Sixty years and nothing changes
The business office is about money
Shop the rates
Shop the products
Don’t be at the top of the profit average
Payment packing
Get the break down every single time
Be sure you are approved before a spot delivery
Ninety days to first, isn’t free
Financing new and working with used
Buy vs lease points
In the news check all the reviews, not just one
Everything OTD, even payment
Nothing is included free
What rate?
Term and age
Know your credit score
Shop 4 banks, at least
Compare the sub-vented to the rebate with your bank
Reserve is an issue
Used is a rate hike
Check it out
Tips for used success
This is advice on buying a car, truck or motorcycle. How to get a great deal and avoid the hassles. Why buy or lease, new or used, where to finance and what dealer is best. If it's about buying a car, truck or motorcycle it's here on Deal Talk