If a Car Dealership Does This - WALK AWAY

Video Description

Car dealership tactics and scams - when it's necessary to walk away. Car dealerships have a reputation for using high-pressure tactics and even illegal actions to get people to buy - making the car-buying experience both stressful and costly. Despite the availability of online pricing tools, many dealerships continue to rely on unethical practices to increase their profits. Recognizing these tactics can help you make informed decisions and protect yourself from being taken advantage of. Five Bright Red Lines This video highlights five 'dealer actions' that are either illegal or so unethical that you should walk away immediately. Taking time to regroup or at the very least, read the agreement carefully to save yourself costly mistakes. Personal Experience: A Lesson Learned One buyer shared their experience of dealing with a dealership that raised the car’s price after confirming it over the phone. They were allowed to take the car home without finalizing financing, only to receive a call the next day informing them the interest rate had increased by 2%. This highlights the importance of refusing to sign unless all terms are fully finalized. How to Protect Yourself as a Buyer • Do Your Research: Know the car’s value, typical fees, and financing options before visiting. • Ask Questions: Demand clear explanations for all charges before signing. • Request a Vehicle History Report: This ensures the car doesn’t have undisclosed issues. • Be Ready to Walk Away: Your willingness to leave is your strongest negotiating power. Conclusion Car-buying doesn’t have to be a nightmare. By recognizing and avoiding unethical practices like hidden fees, Yo-Yo Financing, and tied interest rates, you can make confident decisions. Walking away when faced with questionable tactics protects your finances and sends a message that consumers value fairness and transparency. Chapters 00:00 Introduction 00:40 Lack of regulation causes bad actions 01:18 Kind of like a hotel "resort fee" 02:04 Signing the prenuptial agreement - as you're walking down the aisle 03:38 The Yo-Yo effect 04:45 Like so many things, it's a psychological game 05:12 Geoff's experience 06:22 "I got you the deal, I promised you" 07:05 "There's just one small thing..." 08:29 If they renege, the original deal is off, even if they finally agree 09:25 It was like being in a police interrogation room 10:10 Want a commitment, before a test drive?!? 10:37 the $10 resort fee explanation, again 11:05 They need to earn your business, you don't need to earn the test drive... 11:38 You don't want to walk into a car dealership with "holes in your shoes" 12:01 Salvage titles are dangerous 13:55 Here's what happens on the other end... 14:29 You think you're "getting a deal" 15:26 Then the hammer comes down... 15:59 The single biggest "no, no" in a dealership 17:01 Even though it sounds rational, it's COMPLETELY illegal FREE Retirement Ready Checklist: https://HolySchmidt.com/Checklist/ Important Links: Follow Me on Instagram: https://www.instagram.com/the_schmidtlist/ Geoff's Facebook Page https://Facebook.com/GeoffreyMSchmidt Federal Reserve Board Survey of Consumer Finances: https://www.federalreserve.gov/econres/scfindex.htm Social Security Administration Application for Benefits https://secure.ssa.gov/iClaim/rib Current Social Security Cost of Living Adjustment https://www.ssa.gov/cola/ Social Security Payment Estimator https://www.ssa.gov/benefits/retirement/estimator.html THE CHANNEL’S MOST POPULAR VIDEOS Should You Take Social Security at Age 62 and Invest it? https://youtu.be/8Do6edWYRH0 7 GOOD REASONS to File for Social Security Benefits at Age 62 https://youtu.be/eOJnzLuyvIY Average Retirement Savings by Age 60. Are You Almost Ready to Retire?!? https://youtu.be/8lPdFPaXa1k The BEST AGE to File for Social Security Retirement Benefits https://youtu.be/CoPkYQ0smj0 3 Social Security "Little Known Facts" That Are REALLY Important https://youtu.be/uIXjbRYeYjI Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.