Dealership Finance Managers HATE when you know these 6 things! #finance #carbuying #carfinance

We recently had planned to buy a car at a dealership, but if I paid cash, the car would be $5K more than if I financed it. We did not want to be making payments, but they told us that they get a kickback from the finance company, so they can sell the financed car cheaper. They really pushed the idea of getting the financing and just paying the loan off in 6 months with no fees. To me, that was a great deal for them and a bit of a hassle for us. As a result of their inability to make the deal attractive to a cash paying buyer, we walked away and found another car at a different dealership, that we paid cash for with no games.

I made my deal at Toyota and then said I was putting 20k down and financing the other 15k. Finance told my salesman (who I liked) I had no credit at all. Some crap about it wouldn’t even show up but I could borrow from them for 18%. I called my credit union and was approved in five minutes for 5%. When I picked up the vehicle the finance manager never offered his hand and ran through the paperwork as fast as he could without even offering me to buy extras. I was happy, he was not.

What Kimberly didn’t tell you and, sadly, probably won’t tell you is that the BIGGEST thing that finance managers hate is when you say ‘no’. Say no to everything. It is a depreciating asset. You really do not need ANY of the products that they try to sell to you to make more profit for them. Just. Say. No. It’s so easy to say and actually kinda fun.

“Finance managers” are just another level of sales people. Remember, what they present you on the table is their profit center.

I just helped my daughter buy her first car last year. We had prearranged financing through our credit union at a rate that was less than half what the finance manager had quoted us. They refused to sell us the car after having the deal fully negotiated. We called another dealership that had the exact same car a few miles from the first dealership and told them what was happening and they told us to come on and they’d accept our financing. That turned out to be one of the most comfortable and easy car purchases I’ve ever been involved in.

I’m not going to a dealership to be friends. 😂. I couldn’t care less about the finance managers feelings or his bottom line. Either we do business on my terms or I’m going down the road to the next guy. Great tips! Empower the buyers to be educated!!

Walked into a dealer two weeks ago with paperwork (Carfax, consumer reports research, advertised list price, etc.) on a car they'd taken in trade, posted for sale, but hadn't quite finished prepping. Stopped at the gas station during an extended test drive, and was paid to fuel the car... all good, exactly as expected. I 'accidently' popped the hood to look at the engine compartment... all good. Said I'd be back the next day with my wife. 24 hours later, wife test drives... all good. Dealer then asked me to talk about monthly payments, and handed me their sheet with 7k in add on's. Took my pen, crossed out their add on's, circled the asking price (which was actually below my well researched expected cost)... said... cash or check? As predicted, finance manager was less than happy with me. Salesman however was impressed, and asked if I wanted to sell Toyota's.

As a woman, I’ve walked off lots when no salesperson has time, even when I had the money In my pocket.

This is why you should always get the OTD (Out The Door) price for the vehicle you’re interested in.

I used to work for a bank.. If you really want to make the F&I guy sad, FIRST negotiate your best deal... THEN tell him "oh by the way, I'm paying cash." Lots of times they'll work you a great deal on the price, with the back end finance profits in mind.. Also (forgive me if its been said) but always (if you can) buy on the last day of the month. The dealers are desperate to unload units on the 31st because on the first, they get hit with a flooring bill for each sled still on the lot.

Great video! In 2020 I needed a car now, and found one. The dealer played the keep them here all day so they will sign anything. I paid the cashier my deposit and when I finally got to the finance butthead, he turned out to be a shyster. I kept asking the APR and he kept avoiding it. When I bought an extended warranty but none of his other crap, the APR rate changed. He actually said, since I am buying less he can't give me the better APR. I was livid! After almost 6 hours in the dealership I was wishing I walked out. However, the next day I called my wife's credit union and they gave me an APR less than half of the dealer. They paid off the loan that day, which was the next business day from when I bought it. I also left a bad review to the manufacturer. The finance guy actually called me at work and started yelling at me! I hate being manipulated. I hope he lost all of his commissions!

First new car deal I stupidly bought an extended warranty for like $3,000, went home and realized this was crap so went back and said I want to cancel this. Oh, they were pissed! Never forgot that. But in this video she talks about paying cash and how they hate it, In every other video they say never tell them you are paying cash until either everything has been settled, you get the out the door price, then at the last minute say you want to pay cash, or...just agree to their finance terms to get the best overall price of the car, then just pay off that loan in cash within a few weeks. Because if they know you will pay cash they won't negotiate the price of the car as much

This should be shown to every high school student, with the final explanation, "If you want a car, use self-discipline save your money, and buy with YOUR cash." People who scrape money for years to make a big buy will make damn sure they're getting the best possible deal they can find. You respect the dollar amount much more when its money you already labored for.

Bought a mint used jetta in 2020. Dealership pulled every single scam but I wouldn't budge. Wanted me to pay $400 for nitrogen filled tires. Lol. Said I'd walk and got that for free. Tried to sell me oil change package. No. I'll take it to my mechanic that's closer. You HAVE to be willing to walk away. Know what the vehicle is really worth (kbb) and be financed thru a credit union ahead of time.

Kimberly is the real deal. She answered my texts in real time when I was buying my brand new 2021 Toyota 4Runner TRD Pro in Lunar Rock and had questions during the finance stage. She helped me tremendously. 😊

Never paid for a new car always bought vehicles that were used with low mileage, paid cash always. Learned a lot from watching this video. I actually enjoyed the fact that you were honest.

This lady could literally make a career out of sitting there with buyers at the dealership and negotiating for them.

I just experienced this. I negotiated the deal after a $2,000 price drop ($2K less than the sticker price on the website). I let them think that I was financing until I got a final price. When I agreed to buy the car at the final price on the deal sheet, I told them it was cash. At signing there was a pitch by the finance manager to add an extended warranty for around $5,000. I wasn’t allowed to keep the form or even take a photo of it to review later. He also pitched a 5-year tire and rim plan, then a 3-year tire and rim plan for $900. I declined all of them although my spouse asked to hear the details. I hate high-pressure sales tactics that are only good while in the room. Plus, I already knew the extended warranty was $3,800 with the same company and not $5,000. I sought out extended warranty quotes during my research using the VIN. I have since learned the same tire & wheel coverage is $320, not $900.

If any finance manager doesn’t accept a full cash offer they are doing their dealership a huge disservice. It’s called cash flow which they could be investing in immediately and cash in the door now should always be a priority to any business.

I put 6k down on a 15k vehicle. The finance manager told me I need gap insurance. I asked if he thought the vehicle wasn't worth 9k