Free Car Buyers Guide

looking-at-manual

Hello from Kevin Hunter, The Homework Guy, and the Amazing Elizabeth, The Homework Gal. This is our FREE Car Buyers Guide!

Car Buying, particularly in today’s Car Market, can be very challenging. With this in mind, we have outlined initial steps for viewers and subscribers of The Homework Guy show (on YouTube) to help you get the best possible deal for the vehicle you’re looking to purchase.

A lot of our content on our website and on YouTube is free of charge, and we can be reached directly at Kevinthehomeworkguy@gmail.com or by texting to 701-441-3399.

Step 1

If you’re planning to finance your vehicle, your first step is becoming a member at a local credit union (near you, not online), and then applying for a car loan pre-approval. This information lets you know what rate and terms you qualify for. Very important to know this information BEFORE car shopping. If you haven’t already done so, see our video titled “WHY A LOCAL CREDIT UNION PRE-APPROVAL is a  MUST HAVE for CAR BUYERS!”

NOTE: If you’re a cash buyer, you can disregard this step, but make sure you see our video titled: “DON'T SAY "I'M PAYING CASH!" @ CAR DEALERSHIPS.”

Step 2

After you have determined what kind of vehicle you think you want, set up a time at a dealer for test drives. DO NOT get sucked into sitting down at a salesman’s desk on this visit. You’ll be giving up negotiation leverage if you do! You should go home and “Think about it.”

Step 3

With both New or Used Cars: Contact all the dealers by phone within a travel distance that you would consider visiting (later) and ask for OTD Pricing. Out-the-door pricing includes any fees or add-ons. Get the OTD Price with details of any additional costs in writing on Dealer Letterhead.

Please keep in mind that this is only the beginning of Price Negotiations. There are other pieces of information and questions to get answered in writing that include the following:

  • If the Dealer is running an ad for low-rate financing, make sure you get written answers to the following questions:
    • Is the advertised offer limited to certain types of borrowers?
    • Do you have to make a certain down payment? If so, what are the financing terms for bigger loans with a smaller down payment?
  • Are there other fees or payments? If so, what are they?
  • What is the annual percentage rate (APR), and total you’ll pay for the loan? The APR is the cost of credit expressed as a yearly rate.

If you plan to Lease, ask, and get written answers to, these questions:

  • What is the amount due at signing? If an ad promises $0 due at lease signing, are there still things you have to pay for before you drive off the lot — for example, fees, taxes, a security deposit, or the first month’s payment
  • What is the total amount due under the lease?
  • How many miles are you allowed? What is the charge if you go over the allowance?
  • What other types of fees and charges might apply at the end of the lease?

If the vehicle is Used, get a written answer to this question:

  • Can I take the vehicle for a Pre-purchase Inspection? If the answer is NO, stop right there with this dealer because it’s time to walk! If the answer is Yes, contact a shop nearby the dealer and inquire about the cost and the process of getting a vehicle inspection.

Question that Cash Buyers should ask the Dealer:

  • If I make a substantial down payment on the car, do you accept personal checks, or do you prefer a debit card, or some other method of payment? (the answer to this question also tells you what method you can use to pay in cash entirely). 

When you have come this far, you are ready to visit the dealer with the best OTD Price.

If you don’t want to go through the hassle of the dealer fighting with you for paying cash, see our video titled: “CASH CAR BUYERS Beat Dealers At Their Own Game In 2024” 

Download a copy of the Car Dealer Fake Fees Form on our website. You can use it in Dealer Finance to argue against paying Dealer Fees.

Also, download a copy of the FTC CARS Rule document from our website. The law is on your side. While the rules are not yet implemented, the FTC has already charged and fined Dealers for practices defined in the rules. Print it out, highlight sections you can use, and take it with you! The language clearly condemns dealer fees and forced add-ons to consumers.

Finally, to avoid being swindled by Forced Dealer Add-ons, make sure you see our video titled: “HOW TO FIGHT FORCED ADD ONS, (TIED SELLING) & DECEPTIVE PRICING AT CAR DEALERS” There are also several more helpful Resources in our Car Buyers Blog section!

When you have completed all of these tasks, you’re ready to get in touch with us, and let us know you’re prepared to visit a dealership. Contact us by email to Kevinthehomeworkguy@gmail.com or by text to 701-441-3399. Please text us your name so we know who we’re talking to. Thank you! For Fastest service, see below:

FYI: FOR FASTEST SERVICE: Since we have a ton of help requests, we have launched memberships on our website. We do move members to the front of the line. Response time for members is FAST! Typically a member of The Homework Guy Team responds to member text messages or emails within 24 hours (messages are generally checked 2x per day M-F). On the Home page, scroll down to Featured Products to find the Membership Packages.