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Crossbow posted 9/12/2011 12:15 PM

Has anyone read this? It's about how car dealership owners try to get as much money out of customers as possible, and how to learn to get yourself the best deal. It's written by a man who used to work as a car salesman for a big dealership, but now owns his own company where he works with people trying to rebuild their credit.

I found it really interesting - would love to hear what other people think.

jjct posted 9/21/2011 18:24 PM

Have you seen the movie Flywheel?
I am such a sucker!

Crossbow posted 9/21/2011 19:01 PM

I met the author, Mark Marine. Very interesting man. I was really intrigued by his book. Quite enlightening.

Exit Wounds posted 9/22/2011 10:26 AM

Any tips you can share?

click4it posted 9/22/2011 15:39 PM

Hmm being that I'm going to be in the market for a used car in the near future...this sounds interesting.

InnerLight posted 9/27/2011 22:40 PM

Yes, me too, what kind of tips does he give? I have to buy a new / used car soon.

Crossbow posted 10/3/2011 11:25 AM

How to avoid being "taken" in about a zillion different ways. He will actually *give* copies of his book to anyone who comes to his dealership, whether they are in the market for a car or not. Neat guy.

Tips about how to avoid a lot of "extras" that add ridiculously to the cost of the car, particular places in the "fine print" you need to check on, you wouldn't believe the different ways they charge you - sometimes (illegally) for things you don't even get, although they talked you into adding it on!

He is on a radio show - Everyday Wealth Radio, but the dealerships here in SLC banded together to boycott the station if they aired his show here. So he wrote this book. As he put it, "Let's see them boycott Barnes & Noble."

His book also has a check list of what to look for in a test drive - things I never thought about - and a list of what to ask your mechanic to specifically check when you are buying a used car.

One great tip is to get pre-approved by a bank BEFORE you go car shopping. That way they can't sucker you into a lot of extras, basically sell you a car that is way over-priced. They WANT you to use their credit system, and if you have good credit they can really take advantage. They can get you approved for, say, 15K for a 13K car. That gives them 2K of leeway to sucker you into things you don't need. So you go into the dealership pre-approved for 13K on a 13K car, they can't add a bunch of extra crap. They make most of their money on people with good credit, by getting them to "add on" all kinds of extras. That "premium sound system" for $600 is worth maybe $350, for example.

Another tip is to decide EXACTLY what you want before you set foot on the car lot. What do you *need* this vehicle for? Minivan because you have 4 kids? Just something reliable to get you to work every day? Etc. Most people look at the cars, decide they like this one or that one, and thus begins the "slippery slope" to the salesmen talking you into stuff. THIS model has a "premium sound system" and is only $1200 more! And it's red! See how sharp that car looks in red?

So you go in knowing exactly the kind of vehicle you want/need, pre-approved for the actual price - you are doubly armed against getting screwed.

He suggests that you test-drive a car for 24 hours, rather than just around the block. And take it to your mechanic!

Those are a few of the many tips in his book. I'd definitely recommend it.

[This message edited by Crossbow at 11:29 AM, October 3rd (Monday)]