⭐ Industry tricks, secrets and hacks

CHEAPEST way to replace your key fob:

Step 1) Call local used car dealer.

Step 2) Ask them to refer their mobile locksmith vendor to you.

Step 3) Get an aftermarket fob for 50% cheaper.

Your greatest negotiation tool...

When buying a car in 2022:

A trade-in.

Guy’s Law of Trade-Ins:

The dealer that SELLS your car for the most money...

Can also BUY your car for the most money.

Looking to buy a car over $40K?

Buy New, not Used.

You’ll thank me in 12 months. Big caveat:

This heuristic will not apply if you pay over MSRP for a New car.

Plenty of dealers are ethical and will sell you the car you want at MSRP.

Busiest days at a car dealership:

Friday and Saturday.

Why?

People spending their paychecks.

Those are also the worst days to buy a car...

More customers means you’re less important.

I don’t make the rules...

Never pay for a car owner's manual.

You can download a free PDF.

Just google "[year] [make] [model] owners manual pdf".

You're welcome.

Do NOT turn-in your leased car.

Inflation is still super high.

It is likely worth a lot MORE than the payoff amount. Here is what you should do:

Step 1) Call your lender

Step 2) Get a quote for the payoff amount

Step 3) Use my free “Sell your car” playbook to determine if a dealer will buy your car car for more than the payoff.

Step 4) Profit.

Car dealers biggest secret:

How to detect flood vehicles:

  1. Rust underneath the carpet
  2. Rust underneath the car

And... drum-roll...

  1. Corroded fuse box!

This is the toughest one to hide or fix.

Always check these 3 things when buying a used car.

How to easily save $300:

(When buying a used car):

If a car doesn’t have a spare key

Ask for one.

Most dealers will make one, for free.

How to tell if a dealership is transparent:

Do salespeople sit in-front of customers.

Or next to customers.

Only buy from the latter.

Are you a risk-taker?

Go buy a car at a dealership 30 minutes before closing.

You’ll get either an AMAZING or TERRIBLE deal.

No in-between.

Salespeople are human, too.

They want to go home.

They WILL rush your deal.

This can either benefit you or hurt you.

How to find a puncture in a leaky tire:

Step 1) Take bottle of Windex

Step 2) Spray tire

Step 3) Look for bubbles

Voilà.

Never buy a used car in March-April.

The so-called "tax refund season".

You will not get a good deal.

I promise.

(even if you use my negotiation playbook)

Here's a lucrative gig:

Dealers will pay extra for snow plowing companies that move the cars beforehand.

99% of companies don't do it.

Dealership Vehicle Acquisition Strategies (sorted by profitability):

  1. Trade-ins
  2. Everything else

This is why dealers are always trying to get you to trade-in your car.

Tricks with your trade-in:

Make sure to get your trade-in appraised *before* negotiating the price of a car. Many dealers will advertise below-market retail prices, Only to make up the margin by paying you less for your trade-in.

HOW TO SELL YOUR CHEAP, PIECE OF SH*T CAR

(For as much money as possible):

  1. Get it thoroughly detailed.
  2. Ask your local mechanic to clear the check engine light.
  3. Sell it "As-Is" to a dealer at a public auto auction.

Voila.

You've maximized your profit.

Pro-tip: Bring a cashier's check from your bank or local credit union

This is the ultimate forcing function and will kick the dealer into overdrive.

There is nothing worse than losing a customer with a real check in hand.

Want to drastically reduce your chances of getting screwed at the car dealership?

Avoid buying a car on a Saturday.

Here’s why:

  1. Showroom is packed
  2. Fresh inventory is already sold
  3. Salespeople are less inclined to fight for your deal

Here’s a car buying secret…

Are you looking for a:

  • Reliable used car
  • At a good price
  • Don’t care about future resale value?

Find a car that had a minor “fender bender” that was inaccurately reported as “structural damage” on the Carfax report.

Plenty of these around.

Unreported damages to rental vehicles

Here's a very juicy auto industry secret that not many know (even dealers):

Most rental car companies self-insure their fleets.

Why?

One of the reasons is because it enables them to control what does/doesn't get reported to Carfax.

Clean Carfax = Higher resale value

Accuracy of Carfax after purchase

Heres why you need to check your cars Carfax report 30 days after purchase (in addition to checking at time of sale):

Accidents can take 2-4 weeks to show up on a Carfax report.

We’ve bought cars that had clean Carfax reports — only to have an accident show up 1 month later.

Warm-engine trick

If a dealer shows you a used car turned on and warmed up,

Run.

Faulty-engine noises typically go away after a vehicle warms up.

Always ask to try a cold-start yourself,

Ideally after a vehicle has been turned off for at least 24 hrs.

Save your negotiation

Remember that:

Kelly Blue Book ≠ Market Price

Do your research accordingly.

Welcome to the Car Buyer Cheatsheet
Welcome to the Car Buyer Cheatsheet