Do NOT Buy A Car Until You Watch This | Summary and Q&A

TL;DR

Learn how to negotiate and leverage your position to get the best price when buying a car.

Key Insights

• 🤪 Going to the dealership for research and test driving is important, but save negotiations for later to avoid being taken advantage of.
• 🤗 Desperation can give the dealer the upper hand, so it's important to project confidence and not reveal any urgency during negotiations.
• 💌 Researching prices through email and getting bids from different dealerships gives you leverage and control in negotiations.
• 😨 Knowing the true value of the car based on research allows you to negotiate from a position of strength.

Transcript

what's up everybody I am dust but it's saying I'll welcome to the minority mindset so you're thinking about buying a new car but you don't want to get ripped off what do you do well buying a new or used car can be a scary process because there are so many moving parts that drive your decision-making process and you don't want to get taken for a rid... Read More

Questions & Answers

Q: Why is it important to not negotiate prices at the dealership?

Negotiating at the dealership gives the salesperson the upper hand and home court advantage. It's best to gather information and test drive cars at the dealership, but save the negotiation process for when you have more control.

Q: How can appearing desperate to the dealer impact the negotiation process?

Dealerships will use your desperation to their advantage, knowing that they have the leverage. It's important to avoid revealing any urgency and project confidence during the negotiation to get the best price.

Q: Why is it beneficial to research prices through email?

Negotiating through email allows you to save time and avoid spending hours at the dealership negotiating. It also keeps you from appearing desperate in person and gives you control over the negotiation process.

Q: How can financing be used as a negotiation tool?

If there is no prepayment penalty, financing can be used to potentially get a lower price on the car. However, it's important to pay off the entire car balance before the first payment is due to avoid paying any additional interest.

Summary & Key Takeaways

• Going into a dealership without a plan can leave you at a disadvantage during negotiations. Use the dealership to test drive cars and gather information, but don't negotiate prices on the spot.

• Avoid appearing desperate to the dealer, as they will use that information to their advantage during the negotiation process. Keep your cards close and don't reveal any urgency.

• Take the game to your court by researching prices through email and getting bids from different dealerships. This way, you can negotiate from a position of strength and save time.

• Once you have multiple bids, do your research to determine the true value of the car and use that as leverage to get the best price. Knowledge is power in negotiations.

• Consider using financing as a negotiation tool, but only if there is no prepayment penalty. This can potentially help you get a lower price on the car, as long as you pay off the balance before the first payment is due.