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.
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.
Used cars have tons of depreciation risk right now.
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.
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".
Do NOT turn-in your leased car.
Inflation is still 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:
- Rust underneath the carpet
- Rust underneath the car
- 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.
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
Never buy a used car in March-April.
The so-called "tax refund season".
You will not get a good deal.
(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):
- 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):
- Get it thoroughly detailed.
- Ask your local mechanic to clear the check engine light.
- Sell it "As-Is" to a dealer at a public auto auction.
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.
- Showroom is packed
- Fresh inventory is already sold
- 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.
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.
If a dealer shows you a used car turned on and warmed up,
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
Kelly Blue Book ≠ Market Price
Do your research accordingly.