Wow thank you man you are the first to release a true video about buying a car. No other video talks about holdback or all the other true prices that manufacturer coat.
@dirtbeard108
4 жыл бұрын
I don't play their games. I ask their price, then make my offer. they can take it or leave it.
@MrVegaslive
4 жыл бұрын
You never purchased any vehicles in high demand like the gts and c8 vettes. I just ordered a 70k f350 and paying 1% over invoice. So, dealer making $700+2000 holdback. Which I feel is fair. Now, for any vehicles that have been sitting on the lot for x amount of months and dealer paying interest on usually they're eager to unload them for cost or even a loss.
@dirtbeard108
4 жыл бұрын
@@MrVegaslive yes I have, I just had to pay close to msrp.
@MrVegaslive
4 жыл бұрын
@@dirtbeard108 for what and why?
@coopsnz1
4 жыл бұрын
Some states in Usa you pay tax on cars , so the purchase price will be above Mrsp , in Australia we have federal tax on cars , in left party states lct and stamp duty is higher
@coopsnz1
4 жыл бұрын
@Wall Cutter bmw is $5000 less wholesale price, then government takes there share in of the profit = $3000usd gross profit each, in sales tax states it worse gross profit each bmw sold the government profits the most off the new car sold. The media, left parties only mention turnover from sales not gross profit margin for a business
@MrMisterTy
4 жыл бұрын
Ben, thank you for giving a neutral opinion. You continue to use the same phrase through your videos: “do your research”. Great, logical advice given. Keep up giving people good information while not slamming the good dealerships and employees.
@stopfuckingwithobama
4 жыл бұрын
M. S. R. P. is a fair price. Most people wouldn’t go to Walmart and try to negotiate a penny off a piece of bubble gum but think it’s fair to ask for $8,000-$10,000 off of a $24,000.00 automobile. Buy or don’t but being an unreasonable human being is a colossal waste of an existence.
@coopsnz1
4 жыл бұрын
The government profits the most off new cars sold in USA, it worse in sales tax states consumers are brainwashed by the media, left parties
@MAC88-88
4 ай бұрын
That is why dealers put a white Additional Dealership Profite sticker on every vehicles window too, right? When I sold cars in 1997, the invoice on a Nissan PU was 9,500 and the MSPR 14597. A kid who worked for me has an uncle who owned a NISSAN dealership and he got his car for $10,000 where everyone else was paying MSRP. I never buy unless I hit 23% minimun discount off MSRP, and usually get nearer to 29/30%. Research, research, and reserach. Buy at the end of the month, end of the quarter, end of the year... or the day or two after and backdate the transaction so the dealer can get their holdback.
@youtubecarspottersguide1
3 ай бұрын
add dealer " document fee" and state sales tax and the biggest crooks of all , on going yearly DMV fees @@coopsnz1
@blairakana9984
3 жыл бұрын
I worked for many dealerships and you can’t fabricate and falsify a invoice. That would be illegal and you would get sued as a dealer. This guy has no idea what he’s talking about.
@joejoeyg3592
3 жыл бұрын
So far this was the best most informative I have seen on KZitem...most are not to the point at all and I just drop off. This was very to the point. Ty truly
@chriscatron2978
4 жыл бұрын
I’m all about a dealer making a profit, but just not rapping me. All businesses need to make a profit.
@Combat556
3 жыл бұрын
If I see an addendum, I call BS, and I say, “take it ALL off, or I walk.” STEALERSHIPS will not get my business.
@sophiasmith5949
4 жыл бұрын
I too am guilty of aimlessly roaming the world.
@davileett1224
3 жыл бұрын
Well, this video didn't age well with the stock shortage. All dealers near me want MSRP for their vehicles.
@mensrea1974
4 жыл бұрын
I've always been good paying invoice or between invoice and national average assuming you've got a good sales person. As a sales person myself in high tech I appreciate what other sales people go through. It also makes the process much easier when your sales person knows you've looked up the numbers.
@Rottingboards
2 жыл бұрын
What is the best website to get the invoice number and national average? I don't mind car dealerships making a little money but would like to get a fair deal.
@PreetSingh-gp3re
4 жыл бұрын
The Problem isn't with dealerships. There job is to make money, it's up to the consumer to make an informed decision. People these days are only concerned with a monthly payment. That's the biggest mistake you can make. New cars depreciate close to 30% in the first year. And you just signed on a 0 percent 8 year loan. No shit your gonna be upside down when you car is worth 20 but the loan pending is 37...
@SeriouslyAutomotive
4 жыл бұрын
Very very accurate
@mossmiller
3 ай бұрын
There is hold back, and when I was a salesman many years ago, some volume dealers got discounts that a small dealer did not. On the other hand, dealers have to pay monthly floor planning on unsold units. Holdback is designed to help them with this expense. Watch out if you are still shopping but you got a very good deal quoted to you, you are then "out on a lowball"; when you go back they may try to raise you, switch you to another car or sell you extras you really don't need. Financing is also negotiable, speak to your local bank to get their rates and have the dealer compete with this. Otherwise, borrow from your bank and pay cash for the car. If you qualify for a special manufacturer's rate, make sure you are not switched by the dealer prior to delivery.
@Genesis.1-1
4 жыл бұрын
Very informative, I now know that my Chevy dealership screwed me out of the rebates on my last new truck. I never even look at MSRP since it's only a "suggested" price. I won't be so foolish next time I buy a new vehicle by giving the dealership my rebates.
@pryme8152
4 жыл бұрын
The dealership doesnt get the rebates if they're not applied to your sale. There is literally no reason for them to deliberately not apply them.
@mosilver1572
4 жыл бұрын
I'm sure that if you buy an ugly new car, the dealer wouldn't mind selling it for invoice minus the rebates. You have to figure out what is not selling, or that they've had for a while. Go for an ugly color, you'll probably get used to it. Or, have it wrapped into the color you want.
@justaviewer111
4 жыл бұрын
Sorry but invoice and holdback represents about 1/2 the profit they make. Didn’t you notice over the last 25 years how much that gap between MSRP and invoice has shrunken? You really believe the dealers said “ sure, fine,we’ll make less now, thanks! “ It’s all about the monthly, quarterly, semi annual and especially the annual bonuses the factory kicks back to the dealer.
@sammy2840
4 жыл бұрын
As a former car sales person...the guy who pays a fair profit will be a great customer! The guy who buys 100 over cost will be a total pain in the butt everytime!!!
@KBfromLV
4 жыл бұрын
Love the old fur baby, give lots of love please she needs it!!!
@BenHardyCars
4 жыл бұрын
KBfromLV she’s like 13 years old lol
@reloadNshoot
4 ай бұрын
So i am a little late to the party but I made it. Watching this makes me feel better as i can get invoice price minus holdback minus wholesale finance reserve minus any manufacturer incentives. This without haggling. I am allowed to haggle any dealer add ons.
@autoblog3922
4 жыл бұрын
Addendums are a joke. Any dealership that adds things such as "protection package" is a thing of the past. Larry H Miller is probably one of the worst dealership chains that do this type of nonsense. Only do business with transparent dealerships that don't play games. As a former GM recently retired from the business, I really enjoyed competing against dealerships that had bullshit add ons. Although I do applaud the Millers for their contributions to their communities, I shake my head that they still do business this way.
@DaveBsellsChevy
4 жыл бұрын
I agree completely.. currently selling Chevy's and I have a stack of dealer addendums from local competitors to show my clients. So easy to sell against $300 pin stripes and $200 door edge guards
@DkpProductions
4 жыл бұрын
We sell a Minnesota Package for $1500 bucks of garbage protection
@MH-mi3ui
4 жыл бұрын
Negotiating with a Hyundai dealer right now, so this was very timely. Thanks for the great info.
@gregblau8082
4 жыл бұрын
My uncle went to a kia/hyundai dealer and offered $17k cash for a pretty well equipped sorento. He left his number and walked. They called him the next day to come get it.
@MH-mi3ui
4 жыл бұрын
@@gregblau8082 Good to know. How did his offer compare with the invoice on that Sorrento?
@gregblau8082
4 жыл бұрын
I don’t think he mentioned that but my dad bought a year old santa fe around the same time and said it would have been 22 something msrp new.
@MH-mi3ui
4 жыл бұрын
@@gregblau8082 Wow, nice. Thanks again for the info.
@ILC-eo6vk
4 жыл бұрын
Hyundai???? I would've gone with a Honda or Toyota, if you're planning on keeping it for many years.
@Saturdayz_In_The_Fall
4 жыл бұрын
I put $1600 down on a 2020 Kia Forte, plus got a $1500 rebate, you wanna know what that dealership did when it was time to sign the contract?? ADD a $2500 service agreement, and a $1,000 gap insurance waiver. Dealerships are a fucking scam. Period.
@erikracz4162
4 жыл бұрын
Wow, what an informative video, I can't believe all the money you can save following this video, excellent! 😃
@khoayeuha
4 жыл бұрын
The best prices for new cars is clearance. Those get sold like hot cakes! Always deal with OTD price. For example, if the car you wanted was $25k OTD. Why does it matter about tax, fee, license & registration? Let them deal with it. Don't let them play with the numbers. You are in control. Plus, shop around make sure that price range is close elsewhere. Ultimately, it's your money. Are you comfortable with "your" offer? It's your hard earn money. OTD prices does not vary from dealership to dealership. Tax and their sprinkle fees garbage does.
@ProudPapaw88
4 жыл бұрын
Getting ready to buy a new pickup. Very informative. Thanks for sharing.
@jonathannava5436
4 жыл бұрын
Same here my dude
@daco8252
4 жыл бұрын
I have the biggest fights over the dealer processing fee joke. I had a Toyota Camry bought then they wanted to add processing fee to deal at the end, I say no and they let me walk out of the sales office. Here they don't want to show you the invoices much.
@BenHardyCars
4 жыл бұрын
DACO that’s too bad
@christiancarrillo8690
4 жыл бұрын
They don’t have too. Go ask your local grocery store for a discount go ask a restaurant to discount your food go ask them how much they paid for the steak.
@davidryder5082
4 жыл бұрын
You wanted the Camry but not quite enough. I'm assuming they didn't have a gun and you didn't have one either so nobody was forced to buy or sale.
@daco8252
4 жыл бұрын
@@BenHardyCars Turned out okay bought another brand.
@SeriouslyAutomotive
4 жыл бұрын
It is very rare a dealership will show you their invoice. I sell cars in Southeast Michigan which is the most highly competitive auto market in the entire country. Every Ford dealer is at each other‘s throat, as with Chrysler and etc. dealers here simply tell you know when you ask for the invoice. As for your dealer processing fee, if it was not something they told you about when they first presented the numbers. You should never pay it. A dealer doc fee is perfectly reasonable as long as It’s below $500, most dealers will be somewhere between 220 and 400
@KiraOniiChan
4 жыл бұрын
I'll be sure to ask for invoice and holdback next time, thanks for the info
@philcook1799
4 жыл бұрын
There's only one way..1 plan on spending 5 hours, keep trying to leave and get some lunch and say I'll come back. Then keep hageling..then you'll notice salesman leaving at closing time and again you say "I'll come back tomorrow"...have a idea of what you want to pay per month based on what you want to pay..it's called ..what you want to pay for the vehicle divided by amount of months for the loan terms..like 5 years is 60 months..4 years is 48 months... IF YOU HAVE EXCELLENT CREDIT IN THE 800 RANGE IT WILL BENEFIT YOU..MEDIUM TO LOW CREDIT YOUR SCREWED
@ryanarchibald2907
4 жыл бұрын
Why play games? If you are serious about buying and arent ridiculously unrealistic, it should be an easy transaction at a reputable dealer.
@SeriouslyAutomotive
4 жыл бұрын
That seems like a very complicated over Exaggerated way of buying a car. Buying a car in 2020 is quite simple, go online and find a fair purchase price which is available and all kinds of different sites. Go into the dealership, make your offer based on those numbers and the dealership will say yes, it is simple as that. The only time you would ever have to threaten a dealership that you will come back tomorrow is if you are making an unrealistic offer
@rickpatterson4495
8 ай бұрын
to make it simple, depends on manufacture, the two Brands i sold one had a 25% off MSPR and the other had 24% off , do the math, MSRP X 75% + freight, Then take, if any incentives the manufacture is offing off ADD a little for dealer profit, and you are good to go..
@curtislong1987
4 жыл бұрын
How is it even legal for dealers to pull these smoke and mirrors games.? So much bullshit I don't even want deal with them.
@josephlgamblejr9560
2 жыл бұрын
I’m telling you now all dealerships go in the back and print up the second sticker a.k.a. a different invoice you would never get the real price I work where they actually make the cars and blow your mind or how much it really cost and I work at a dealership you will never get the real price
@malenurse1313
4 жыл бұрын
This was on my google news feed... I wasn't looking on KZitem for this at all. But after 30 seconds of watching, I realized I test drove a Dodge Ram with you last year! Thanks for the tips. We plan to go to LHM ford in the summer to shop for an Expedition. This info will help.
@BenHardyCars
4 жыл бұрын
Kimberly Meyers small world🤣
@allsportsexpert
4 жыл бұрын
For people who actually want to know and learn, that will rule out the very dumb self proclaim Tom The Car Guy who knows nothing about getting a great deal in buying cars, the more you know how things work in the business the better a deal you will get. Do research in the actual price the dealer is paying, what does invoice mean, what fees are required and what fees are just padding the dealer's profit. There are so much misinformation over the internet. Be careful.
@davidpointer1201
3 жыл бұрын
QUESTION: if they dont have the truck you want and have to order it online, can u also use this method of negotiation for below MSRP/Invoice/Hold Back.
@vwjanonomous
4 жыл бұрын
You can go buy a nitrogen tank and all the setup for the same price they charge you at the dealer. They get Nitrogen tabks for pennies
@tommycasidy3031
3 жыл бұрын
Here's another annoying fact. If you educate yourself to the point where, you're a know it all on how to get the greatest deal ever. These slimy salesmen will be happy to let you walk away. As the saying goes, there's a sucker born every minute. These creeps make car buying a stressful nightmare. The salesmen should be eliminated. People should be able to buy straight from the manufacturer.
@danielguardado3155
4 жыл бұрын
You've overpaid a lot more for other things than a car...believe me. If you think a dealership won't let you walk over a ridiculously low offer you're wrong. If somehow you get a ridiculously low price they probably needed to get rid of "that car." Start your search online and pay a fair price.
@Antzeid
4 жыл бұрын
Exactly what I have been looking for. That word. HB thank you.
@Smaulls
4 жыл бұрын
I bought a 2019 Silverado 1500 High Country with $67k msrp for $49k. They claimed invoice was around $54k. They were selling for more used so I was happy with the deal
@williaml.8560
4 жыл бұрын
JustinMaul16 Was it in December? Chavy had Employee Pricing on all Silverado’s.
@Smaulls
4 жыл бұрын
William L. Yep December. The 2020s were still in the mid to high $50s and I’m not sure there’s any difference.
@freeone1545
4 жыл бұрын
Man I love Silverado but I just bought a Silverado. First it was my motor 14 months later my transmission went out on me🥺2015:ltz with only 70k miles on it I maintain all my pretty well... And my Silverado was nothing more then a family truck never even towed any thing.
@ElBabalu1111
4 жыл бұрын
They made money off that deal as well. Good job getting them at the 25 to 30% mark up.
@freeone1545
4 жыл бұрын
@david jeffery why do you!) think that is
@daveflores3026
4 жыл бұрын
Hello, really nice and informative video. i wish i saw it before i purchased my car. I tried to do that but the dealership did not accept anything, i’m not familit with any applicable laws (if any) but there were some rebates that they told me they applied but i’m sure they did not. How can i do to get the invoice and that HB thing...??? What should i say when they refuse to do so?
@richspear3691
4 жыл бұрын
most dealers do not show you the Real invoice!! You can go off of msrp just start way down from it ie his dodge example start at 30-35% off msrp
@alexnutcasio936
4 жыл бұрын
The best way to get a great deal on a car is to go into the holdback. Note that beyond the holdback, there's also incentives from manufacturers and distributors that if the stealership buys X amount of a certain car, lets say for example 20 of them, then there's additional incentives that flow to the dealer for quantity buying. So, sometimes there's even more profit than just holdback. They're just not going to tell you about it. At 04:15 Ben is talking about a "Bump Sticker." Thats also ADP (additional Dealer Profit).
@hectorn7820
4 жыл бұрын
Great info, really appreciate the insight. Need a family car badly
@achimenssle4766
2 жыл бұрын
so, i read it like, the actual dealer cost of a new car is the amount they financed it plus get it shipped to dealer and the detailing! They pay for the car when they sell it?
@heatoncustomwoodworkingflo1769
4 жыл бұрын
This is why I stopped selling cars. Nobody would ever go to the manager at walmart and demand to buy something for invoice price. What makes anyone think they should be able to do that at a car dealership. If you want a car for less than msrp, then buy used.
@maverick6442
4 жыл бұрын
I probably won't be going to a new car dealership anymore to many games, long negotiations, I don't have time for. I just dealt with a used car dealership, which was a pleasure, I told them up front I was going to finance through the local credit union and made a great deal at a great rate.
@youarerightboss
4 жыл бұрын
MSRP. Invoice - hold back. But who's in business to lose money? Slim to none chance that a stealership sells you a vehicle for invoice price minus the holdback price. But you did move the goal post for naive consumers, indeed. The inception point should then be the invoice price. Can you refuse to pay for the destination fee? Is it negotiable? Destination charges should only apply to new vehicles. Try to eliminate or negotiate the addendums. Subtract the negotiated addendums from the total price. Secure your own financing/lowest % rate via your local credit union or bank. Only mention trade in the wake of securing the total price.
@scottr2706
4 жыл бұрын
"Slim to none chance a stealership (quoting Dave Ramsey is never a plus) sells you a vehicle for invoice price minus holdback price!" Wrong. Actually getting a vehicle for less than invoice is very common. I cannot recall the last time I paid invoice. The last vehicle I purchased was a BMW for $2,000 less than invoice plus a rebate of $4,000. The reason is the dealer clearly had an unpublished incentive from BMW which allowed them to sell below invoice. On a new vehicle the destination cost is part of the MSRP. So it is included in the price and should never be a separate charge.
@derekcomingo2197
4 жыл бұрын
6 commercials in 5 minutes jesus KZitem
@Jon-O.
4 жыл бұрын
First. MSRP is the base model price no options. Not one vehicle is sold off dealer lot this way unless it is ordered that way. There is a profit margin for manufacturer factored in to what dealer invoice is.
@Ekimsnegdoh27
4 жыл бұрын
I say just join a forum on Facebook etc... on the vehicle you want to buy. Find out what people are getting off msrp and go with that. Nice video
@BenHardyCars
4 жыл бұрын
Mike Hodgens thank you
@trailerparkcryptoking5213
4 жыл бұрын
What key words do you search for those forums?
@abbieanderson3191
4 жыл бұрын
Mike Hodgens Can you please tell me the name Thanks!
@scottr2706
4 жыл бұрын
Dealers do not pay invoice, they pay much less. Dealers and manufacturers know invoice is the holy grail for many car buyers. As a result they developed a system of holdback (percentage of MSRP) and various incentives which lower the cost to well below invoice. Many of the incentives are not known until after the vehicle is sold. In any car dealership very few people actually know the final cost to the dealer. The sales person does not know that cost. This system is why dealers sell every day below, at or slightly above invoice. The worst thing any car buyer can do is negotiate down from MSRP. That simply plays the dealer's game and almost always results in the buyer paying too much. A good way to buy is to take invoice, reduce for hold back (Edmunds.com will have these), reduce for any known incentives. For example if invoice is $25,000, hold back is $600 and there is a published incentive (Edmunds.com) of $1,000 the amount is $23,400. When you select a dealer (always check dealer reputations and always make an email inquiry) to visit let the sales person do their meet and greet, test drive and price offer. That offer to buy at your number. For example if MSRP is $27,000 and the sales person offers to sell at $26,000 just say you will buy at something around the $23,400 number, perhaps $24,000. The sales person will immediately express shock and will ask you how you got that number. Just reiterate you will buy for $24,000. This forces the sales people to work to meet your number as your number is not pie-in-the sky, it is based on real numbers. Knowing your number means you will not make a bad deal. If the dealer ultimately comes down to $24,250 you may consider that a deal you can live with. If the dealer only comes down to $25,500 you know there is more money on the table. You may decide to walk away and work with another dealer. Actually walking away is your best negotiating tool. The last thing any car sales person wants to see is a viable buyer waking away without buying. That is when you will learn the dealer's best price. Or the sales person may call you shortly after you walked away with a better deal. A few years ago my wife and daughter tried to buy a new Civic. The dealer played games and their best offer was $1,500 more than the number I had computed. After calling me, my wife and daughter walked away with the sales person proclaiming I did not know what I was doing and his offer was the best they would get. On their way home the sales person called them and offered $1,000 less than his previous offer. They were very pd off with the sales person and did not return. The next day they went to another Honda dealer and got the vehicle for $1,500 less than the first dealer had offered (before the call offering $1,000 off). Never believe anything any car sales person says or does. They are just selling. Do your research and be confident. It is your money and you control the negotiation.
@coopsnz1
4 жыл бұрын
The government profits the most off new cars sold, turnover from sales or involve price don't mean shit, gross profit is true profit margins
@coopsnz1
4 жыл бұрын
BMW, Mercedes $5000 less wholesale price then Government takes there share in business tax, regulation costs = $3000usd gross profit each + pay expenses , pay wotjerd = even less gross profit in a new BMW, then if you live in sales tax states there even less gross profit in a new BMW, BMW built in Germany factory for corpraton is profiting them $5000usd gross profit each that it , once shipped to USA there less gross profit in new cars. The media lie like this guy only mention turnover from sales not gross profit margin on a new car
@blairakana9984
3 жыл бұрын
You can get invoice for your price and ask for the rebates that are available, but you can ask for the dealer holdback which is used for advertising purposes for the dealer owner. Nobody knows what the holdback is except the owner of the dealership and he’s not gonna give that to you. This guy is full of shit.
@Seanheery
4 жыл бұрын
This is great, Ben! Shopping Traverse Redline and Telluride SX right now. Thanks buddy!!
@gavinboomer7446
4 жыл бұрын
Sean Heery both awful care. Hope you didn’t buy one.
@ED-ym1gm
4 жыл бұрын
Gavin Boomer why awful care?
@ED-ym1gm
4 жыл бұрын
Which one did you buy?
@coopsnz1
4 жыл бұрын
Wholesale price is $5000 less for a BMW, Mercedes, Audi, but government takes there share end of the day in business tax, regulation costs . High turnover low gross profit margin
@albertmcfry6322
2 жыл бұрын
Good information, thanks
@CBL138
4 жыл бұрын
Ben, appreciate the info. Question: is it best to go to a manufacturer’s website and build your truck for the best price? Thanks
@Dayserking
2 жыл бұрын
It takes longer, but if you’re willing to wait that’s probably the best car buying experience
@dwaincarlrobertson
2 жыл бұрын
Great info thanks bro
@bobhoe
4 жыл бұрын
I bought a new truck and they wanted $120 for nitrogen filled tires, I told them to take out the nitrogen and put in regular air. They left the nitrogen in and removed the 120. I also start by knowing exactly what I want and what I should pay. I go to different dealers and ask them for their bottom line sell price. I dont wait for the answer instead I leave my phone number and tell them I'm in a hurry and can't wait. I tell the salesman I'm not going to wait all day for them to run back and forth until they come up with a price. Lastly never buy a car based on loan payment amount . When they ask me if I'm financing or what I want my payment to be I respond with I want the actual sale price and we can talk about financing later. Always be ready to walk away
@nightshade3210
4 жыл бұрын
That reminds me when I was helping my dad purchase a new Tacoma 2 years ago. One of the markups was the nitrogen filled tires for $400. I kept telling them that's a ridiculous amount for that price. I told him to empty and refill with regular air. But they wouldn't budge saying that it will be a waste of nitrogen and is expensive. As he kept doing the "hang on let me go see what we can do" and making us wait like always. I called my local Costco have them on speakerphone and ask them how much does it cost to fill tires with nitrogen and they told me $5 per tire right as the salesperson came into the room with the manager. I thanked the guy in the phone hanged up and said are you really going to lose the sale of this truck for nitrogen bullshit? I will pay $20. In the end i got it at no charge.
@H.pylori
4 жыл бұрын
When I purchased a Jeep Wrangler 4 years ago, the dealer add-ons amounted to $1200 over my offer. Included was the nitrogen thing. I also told them to take the nitrogen out because if I am off road and need to air back up, where am I going to get nitrogen. I also asked if they had a pump available 24/7, since they close on Sundays. Answer was "no." Then I asked why use nitrogen when if I needed to fill a tire I would have to wait for Monday, and then wait at the service area until they could work me in. Their answer: with a sheepish look on their faces, they removed all of the markup.
@MrDjdanv
4 жыл бұрын
I would of left once i found out they use nitrogen. Redflag/shady.
@MarkPharaoh
4 жыл бұрын
I never feel bad targeting under hold back. Dealerships make money on just about everything else: used cars, service, finance. Think it’s fair for them to make nothing on new cars beyond end of month bonuses.
@googleuser5663
3 жыл бұрын
Being a car salesman now days is the worst job in the dealership long hours draws and commission-only, I sold cars in California and Florida when it was good, the owners make a lot of money they screw the salesman, ok if you been doing it for a while is fine you have clientele but new people in the business stay away from is free labor, good job for retired people or just out of high school, In California is the nice to state requires a license and does background checks in Florida does not and if you have a criminal record it helps you, you have a lot cons handling your private information, Florida needs to require a license like real estate. Car dealerships pray on the new salesman and the customers is like the mafia very dirty business. For a new salesman to make money is a volume business so you must sell alot owners are always using trickery to screw salesman out of their money and customers.
@ginobili2k26
4 жыл бұрын
It’s always the shitty salesman that give us a bad reputation. But there’s shitty customers as well, margins are very thin on new cars. If the prices are outrages you wouldn’t even been in the showroom. Come prepared, come informed. Make an offer, it’s either going to be a Yes or No.
@sherianderson7289
2 жыл бұрын
I'm looking to get a rav 4 2021 or 22 so what's the invoice and hold back for one of those
@dyoung3297
2 жыл бұрын
Hey Ben man I just saw this video I know it's a couple years old but I was hoping if I could pick your brain on this I factory ordered a dodge charger widebody scatpack 22 and there in high demand I guess I'm lucky getting it at MSRP my dealer said there selling it to me at sticker with this market should I settle for sticker or try to get them down I know there not gonna let it go for invoice whatever advice is appreciated thanks
@Dieseldickrick
4 жыл бұрын
At the end of the day what makes negotiating hard is there are far more people out there uneducated and unwilling to actually negotiate a price SERIOUSLY. The ball is in the dealerships court because people keep financing and leasing vehicles with huge mark ups on it. It’s the same as education loans. Just like the schools know they raise the price and the student loans will follow, same as the car loans. There is no reason an XL F350 with rubber floors and vinyl seats is 50k....except the fact there are people willing to pay that without thinking twice.
@davidryder5082
4 жыл бұрын
Um it's always a buyer's market unless you have to have the new and shiny thing now. Just wait and everyone who wanted it quick will buy them for a premium.
@H.pylori
4 жыл бұрын
But, if you do invoice minus hold back...there is no direct dealer profit. This would only work on a car that they want to get rid of.
@timbortmes6463
4 жыл бұрын
This right here is the real truth!!
@bradhampton6457
4 жыл бұрын
There are zero dealers out there willing to give you their holdback.
@BlackbirdSSR
4 жыл бұрын
@@bradhampton6457 Because they wanna give it the strippers after their shift ends.
@sneakypete830
4 жыл бұрын
@@bradhampton6457 not true.. I built a ram 1500 and got holdback..
@bradhampton6457
4 жыл бұрын
Matt P I worked in dealerships for 15 plus years back in the 70’s and 80’s. I never knew of a dealer willing to give up his holdback money. Incentive money from the manufacturer... yes... we were always willing to negotiate that to get a sale. Especially on old inventory.
@chadh6759
4 жыл бұрын
Employee pricing is different for every brand. I work on the sales floor. I get cars for 8% off invoice then rebates 👌
@bailey9r
4 жыл бұрын
So in other words they keep the up to 2k hold back for their profit?
@chadh6759
4 жыл бұрын
bailey9r it just depends on which manufactures. Everywhere is different. Some cars don’t have huge mark up on them, every model can be different too
@bailey9r
4 жыл бұрын
@@chadh6759 Right but you said 8% plus rebates which leaves the holdback for the dealer. And you're right the markup is tighter now to show a better MSRP so they can't play as well.
@jimkelley1000
4 жыл бұрын
I might humbly suggest a low ball "out the door" offer. Dealer can add kitty litter charges, tire tinting, and his daughter's college fund - and who cares. Many dealers won't go for it because it puts them in a weak position and maybe offends their normal way of doing bidness. I have also found that many dealers will not talk turkey via email. Why? Well, you know they want to wear you down AT the dealership. It's a brave new world - if they don't dicker via email, I don't buy from them.
@careersmart4382
3 жыл бұрын
If a new car is $2500 less than every other dealership and they want you to buy that one particular car is that a red flag or a good deal?
@ILC-eo6vk
4 жыл бұрын
How low can I get a Ford dealership to sell me a 2020 F350 King Ranch 6.7 at the end of the year when they need to move them quickly?
@serbiedog840
4 жыл бұрын
Thanks for the info. I have always just paid the MSRP plus the Dealership "Sales Fee", the "Using the bathroom fee", the "free bottle of warm water fee", the "Tire inflation fee", and usually the most expensive one which is the "Allowing you to test drive the car fee". Boy was I dumb. Your next video should be: "Nigerian Kings do not need your money to escape from exile." J.H.C.
@georgeg6036
4 жыл бұрын
Good info. Now I have more leverage. Thanks!
@roelcruz7586
4 жыл бұрын
So you’re saying that a holdback for a $55k car is only $2K? I bought a brand new Lexus NX300 F Sport and paid over $5K less than invoice. 😏
@fallback8314
4 жыл бұрын
yea sure. about a month ago i couldn't get a dealership to take off a measly 5k on a 2019 vehicle they simply said no they didn't even negotiate
@twig7105
4 жыл бұрын
The car I am looking at is adding on $1300 to extras, window tint, nitrogen filled tires, I know what that stuff cost, but this dealership is offering lifetime powertrain warranty, how would I find the cost for this so I know how much that Jack and up the price on me?
@cjmixer99
4 жыл бұрын
#benhardy - Thanks for the video. Good to know about holdbacks. It seems that dealerships won’t budge on their popular cars. I’ve purchased three cars from a local Toyota dealership, and coming back for my fourth they wouldn’t budge near invoice even with rebates on a 4Runner. Pretty greedy and crummy way to treat a repeat customer.
@stevang4720
4 жыл бұрын
Toyota doesnt have a whole lot of holdback and markup on their trucks....cant speak for their cars
@posjoey
4 жыл бұрын
You worked at dodge dealer? What is the average invoice and holdback on a scat pack charger??
@goldcoast5886
4 жыл бұрын
What would your advice or strategy be for buying a 2020 RAM 1500 LTD Ecodiesel, factory ordered truck for cash? The dealer will have zero carrying costs. Is there also a timing strategy, as I can pick when I buy?
@erod6214
4 жыл бұрын
Thank you. I'm in the process of purchasing a new RAM after my 2019 F350 King Ranch Ultimate dually caught fire.
@BenHardyCars
4 жыл бұрын
E Rod that’s terrifying
@BenHardyCars
4 жыл бұрын
J B 🤣🤣🤣
@amonsmith3096
4 жыл бұрын
Ben Hardy How come some Ram dealerships can knock off $7k or more off the trucks and some can’t do it??? I don’t get it, and we don’t have a legit list of dealerships who can offer the most discounts on ram trucks on a consistent basis.
@heartofdixie67
4 жыл бұрын
Amon Smith My 2019 Ram 1500 Bighorn sticker price was $50660... I paid &35519 plus tax !
@amonsmith3096
4 жыл бұрын
Tony K damn! I need to go see your Ram dealer, my local dealership quoted me $49k for a 2019 Ram classic long star silver.
@Tony-hf9mv
4 жыл бұрын
Funny I was working in ATL and my neighbor at the RV park had bought a brand new LTZ Chevy. Apparently he got someone a job who’s family owned a car dealership. His tax preparer said he had to spend money and he took the guy up on a offer to buy a vehicle. Anyways the sticker price 54k truck he got for a little over 21k. The dealership told him they sold it at actual cost. I figure that included any and all rebates at the time but still that is a incredible markup. Keep in mind this was 15 years ago before the prices really got ridiculous Invoice is a good start but that is not there cost. The company I worked for had preset deals with some of these car dealerships the employee pricing for us was anywhere from 3% below invoice to 1% above invoice depending on manufacturer.
@autoblog3922
4 жыл бұрын
So you're saying there's $33000 markup on a new truck? Educate yourself before making such crazy statements. The most expensive trucks on the market have @ $5-7000 between invoice and MSRP. And 3% below that for holdback. The holdback helps pay flooring and salesman and mechanics etc. Your neighbor was making up stories.
@Tony-hf9mv
4 жыл бұрын
autoblog I wouldn’t say that much as he clearly got all incentives at the time. Invoice is not what the dealer pays. Keep in mind not only do dealers not pay invoice but once a vehicle arrives it is basically pmi. Any defect is marked and the dealership gets money to fix such items. They don’t always fix the issue unless the customer complains. Education is key. The guy did show me the sales slip. Travel trailers have a 10 grand markup. 5th wheels at one time had a 40 thousand mark up. These are just the differences between wholesale and other RV dealers back then. Do you really think the car industry is much different? I work aviation you really really don’t want to know the markup on those. Honestly if there wasn’t a markup do you think car dealerships would lobby so hard each year in order to stop manufacturers from selling direct to the public? This was 15 years ago when cars were a bit cheaper to make with fewer requirements for safety. Back then you didn’t get much for a 54k MSRP truck just a nicer interior.
@autoblog3922
4 жыл бұрын
@@Tony-hf9mv Yes, the car industry is very different than the RV industry. I'm a retired General Manager of Multiple full line Chrysler Jeep Dodge and Ram dealerships. We just shake our heads when people like you come through the door spewing your nonsense. Tesla sells to the public so you should probably purchase from them. Enjoy driving for miles to get any type of service done because there are so few service centers. It takes millions to open any new car franchise. If you only understood economics then you'd understand that it takes a lot of money to run any new car franchise. In fact, to further educate you about the car business, The average new car "profit" in 2019 was actually a loss on average of $900 dollars! Thats right, a loss. The service, parts, and used cars is where dealerships try to actually make a profit after the insane amount of overhead. But you already knew that right? Because you were told by someone that obviously didn't know. I'd love to see all of these so called "experts" open their own dealerships rather than assuming what the reality of operating one is. Again SMFH
@Tony-hf9mv
4 жыл бұрын
autoblog I do understand how lucrative it is otherwise dealerships wouldn’t be spending hundreds of millions a year to stop manufacturers from selling directly to the public. See you are taking your overhead from the markup. Not just the markup itself. The dealerships have to pay for those buildings and management. That is factored in but not what the dealership actual pays for the vehicle. Big difference from direct manufacturer buying and what it can be sold for. Middle men cost. And if your ignorant ass would have read. He bought it at dealer cost plus rebates and whatever else they used to help him out as he did get their son a job in the oil pipeline. So they never figured in their overhead only actual cost from the manufacturer
@autoblog3922
4 жыл бұрын
@@Tony-hf9mv So invoice is approximately 7% below the MSRP on that LTZ. So basic math for you, $54000- 7% = $3780. So 54000-3780= $50220.00 - 3% ( $1506.00)= $48714.00. So you're saying that there were over $17000 in rebates. What a joke. Your ignorant ass obviously doesn't understand math. Rebates are not dealer profit. SMFH You can thank me for giving you a simple lesson in math. I don't expect you to follow along, but if you actually take some advice from educated people, then you might not look like a complete idiot the next time you walk into a dealership.
@sharonanderson3076
5 ай бұрын
Sorry, but BMW's have been made in Greer South Carolina for years..
@jorgelozoya8676
4 жыл бұрын
So from what im gathering from the video is, If I get a new truck at 53k (invoice) and the manufacturer is offering a 5k incentives, the price I should pay is 48k? Where do you bring up the rebates? at financing?
@SeriouslyAutomotive
4 жыл бұрын
Jorge Lozoya rebates are already included by the time you get to financing. Ask to get the rundown before you agree to anything. Odds are you won’t qualify for all of them but be sure to find out why
@gregoryhill5222
4 жыл бұрын
Thanks my friend for your informative video.
@MTCKIE68
4 жыл бұрын
All of the add on stuff is the biggest RIP Off. I don't care about the special vehicle crap because anything over MSRP is straight up Gouging !!! Invoice isn't the Real cost to the dealership. You still don't know the truth about what they pay because the owner doesn't tell you !! What the owner actually pays for a truck is about 50 to 60 percent of the sticker. Trucks are the biggest money makers next are SUVs for the dealership. On any truck out there you should try to get at least 10,000 to 15,000 off of the sticker. So that means when you start talking about price take 20 grand off and work from there. I'm speaking from personal experience of knowing an actual owner of a dealership. Before he passed away he showed me exactly what he paid for a work truck 4x4. The sticker was 31,100 he sold the truck for 19,890 he still made about 4 grand profit and received interest Kick back from the bank. The more loaded the truck the more the profits for him because they sell them the most and people are just buying them like crazy. I don't care if anyone believes me or not I know what I was shown.
@SeriouslyAutomotive
4 жыл бұрын
Quite simply this is a yes and no answer. Just about any truck out there you should get up at least $10,000 off the price of the sticker. That is 100% correct. But dealerships do not and cannot legally lie about pricing. Every new car in the United States is required to have a Monroney label in the window sticker and that comes directly from the manufacture that cannot be tampered with. It is a $10,000 fine per each case if it is.
@blairakana9984
3 жыл бұрын
The easiest way to get the best deal is to look for the Friday advertised slashed down special sale vehicles and that is a loser deal for the dealership.
@coopsnz1
4 жыл бұрын
In Australia c200 $48000 shipped , custom fee $1000 , tax on the car $15000 = $6000 profit bit government takes half it = $3000 gross
@markwolfe8753
4 жыл бұрын
What do you say when the first question from dealer is “ what do you want your monthly payment at”?
@chrisburger8794
3 жыл бұрын
I can't remember the video but that question is one you don't answer.
@ViperVideo
2 жыл бұрын
Can this be applied to Harley as far as in invoices go? Or is that a different breed?
@brucebeamon5460
3 жыл бұрын
GOOD INFORMATION ~ one thing ( I think ) was left out was time of the month And Time of YEAR to obtain an even BETTER DEAL .
@zvue1
3 жыл бұрын
So will i get a new car, if i go in and said im not paying over MSP??
@highschoolfishingcentral7753
4 жыл бұрын
Great video. I want to "build" a Ram 3500 because I cannot seem to find exactly what I want at the 20+ dealers within 100 miles of me. What would you suggest is the best-negotiating strategy if I am going to order a vehicle to be built?
@BenHardyCars
4 жыл бұрын
I’ll make a video on the topic
@highschoolfishingcentral7753
4 жыл бұрын
@@BenHardyCars That would be great, thanks.
@bla7701
3 жыл бұрын
l LIVE IN HOUSTON TX - HAVING A VERY HARD TIME GETTING A 2021 YUKON DENALI - SHOULD I PURCHASE A 4WD FOR THE PRICE OF THE 2WD IF IT HAS EVERYTHING I WANT & THE DEALER IS WILLING TO LOWER THE PRICE OF THE 4WD TO THE SAME AS THE 2WD
@MrJeepguy1974
4 жыл бұрын
Most sales guys don’t even know what happens in the sales tower...
@BenHardyCars
4 жыл бұрын
Chris Venegas you are correct lol
@esmoglo
4 жыл бұрын
Good stuff thanks for the info
@advancedchemistry1028
4 жыл бұрын
Hey Ben, I have questions to ask. Is the Mahoney Sticker the invoice or is the invoice a separate document/amount? Also, How and when do I ask to see the invoice and hold back amount? Thanks for your time.
@BenHardyCars
4 жыл бұрын
Different documents and you can ask whenever, the earlier the better
@advancedchemistry1028
4 жыл бұрын
@@BenHardyCars Thank you.
@cynthiakivinen9423
4 жыл бұрын
Awesome. Thank you for the info.😁
@treyroberts8124
4 жыл бұрын
Fun fact, the Toyota Camry is made with more American sourced parts than any other car.
@giowrld3boss308
3 жыл бұрын
Thanks for this info helps so much I’m trying to get a new trail boss lt might just go take a test drive later on today but that’s it!!
@christopherwells3426
4 жыл бұрын
You're killing me. Number one I only want to know what the dealers actually pay for a car. Number two, you should go with people and get paid to help them buy new cars instead of making these videos.
@Josh-hq2se
3 жыл бұрын
so you can actually tell the dealer to waive off the holdback and just bring down the in voice? those are the main things correct?
@jplff1630
3 жыл бұрын
So if I can't get an invoice price printout what would be an average amount I can take off the msrp? For example if a truck is at 58k could I take "3k" off say that's the invoice then negotiate from that price?
@Julie-7605
4 жыл бұрын
Wheel locks is another b.s. charge. They come standard with the cars. Plus, every dealership has a different charge.
Пікірлер: 810