Here's the script for the "Mistakes When Buying A Car" video above:
If you’ve been ripped-off by a car dealer in the past, it’s ok. It wasn’t your fault.
If you’ve ever been concerned in the past about how to handle all the paperwork and negotiations involved with buying a car, then put those fears to rest.
Car dealerships and manufacturers want to keep you in the dark about all of the proper steps you can take to get the best possible car deal. Why do you think that such a basic life lesson of “how to buy a car” isn’t taught in ANY school in America?
If you’ve ever thought that the automotive industry wants to extract as much profit from you as possible… you’re absolutely right.
That’s why I’m here to teach you the biggest mistakes when buying a car that people make.
My mission is to help people save money on every automobile purchase or lease they make for the rest of their lives. Yes, car dealers have to make a profit to stay in business, but that doesn’t mean you have to line the pockets of the sales team with anything extra.
The only way for you to ensure that you’re always getting the best possible car deal is to allow yourself to receive the proper consumer education that you should’ve been taught in school.
The only way to receive a comprehensive education dedicated exclusively to getting the best deal on any vehicle is through Car Buyer Class. Frankly, it’s like Harvard for car shoppers.
My name is Bob Garrow, Founder of Car Buyer Class, and I’m here to change the way that people buy cars, so stay tuned because you won’t want to miss any of this.
It’s important for you to understand that I didn’t just research the car business. I wasn’t just a sales associate for a year and then quit because I sucked.
I lived in the industry for years, started in the business over 20 years ago as a Service Shuttle Driver, and since then have held nearly every possible retail automotive position from answering internet leads all the way through Finance and finally walking away a few years ago as a Sales Manager at one of the largest major import dealerships in the country.
When I say largest, I mean huge! I managed and mentored a team of up to 70 sales reps. We were in a constant battle every month with two other dealerships to be in the Top 3 in the United States in sales volume.
That’s a lot of cars! That’s a lot of pressure…unrelenting pressure.
I didn’t walk away because I was bad at it, or there was too much pressure, or I wasn’t making boatloads of money…I walked away because I hated what it made me become.
You see, it’s the very nature of an auto dealership’s commission-based business model that compels some sales reps and all of the management team to be motivated by profit.
If you think you’re getting out of that by negotiating online or going to a no-haggle dealer, then you couldn’t be more wrong. All you’re doing with a no-haggle store is over-paying without even giving yourself the option to negotiate a better outcome.
How does all of this apply to you?
Well, I’ve personally sold over 300 cars and have closed well over a thousand car deals.
I know what all of your objections will be because I’ve heard them all before and have a slick response ready-to-go.
I know how to get you really excited about buying a car.
I know how to withhold crucial information in a way that you would never suspect…
And I know exactly what you’re afraid of happening when you contact a dealership.
Because sales people invest ridiculous amounts of time and money in our sales education. More sales equals more money!
If sales reps aren’t with a customer or on the phone, they’re training to be better at getting you to say, “Yes” as quickly as possible.
We’re trained and certified by billionaire auto manufacturers.
Top sales and finance people are among the best-of-the-best influencers on the planet.
If there was a Ph.D. available for Sales…I would have it.
The good news for you is that now I’m on your side and have been working in the financial education sphere for the last few years with a focus on teaching adults so that they will remember what they’ve learned when it’s most important.
I don’t earn a living by manipulating consumers. I earn it by educating them. It’s my calling, and I’ve found that I’m even better at teaching than selling, and we’re going to get started now.
The biggest mistakes when buying a car that people make are in 4 different areas:
All four ultimately represent a lack of preparation, and failure to prepare for even one of the four is the only opening a dealer needs to soak you for more profits. Failure to prepare in more than one of these areas will cost you thousands of dollars extra every single time you go to buy a car.
So let’s start with Finances
The biggest problem here is that consumers aren’t aware of the accurate ways to establish a vehicle’s value. There are disjointed pieces of information about how to find out all over the internet!
Where are you getting your car appraisals from?
Why are all of their prices so different on the same car in the same market?
Are you learning how to find out the actual market value based on an article you read or a YouTuber you watched?
Well, who writes that content?
- Or people writing wild headlines just to get more clicks and views?
The auto industry is a completely different financial beast than any other industry.
Would you go to a mortgage broker for advice on buying a car?
Would you call your credit card company for advice on buying a house?
It’s important for you to learn from someone who has absolute demonstrated professional knowledge of the subject matter, or you will get misleading information that will cost you money.
Here’s an example of a misinformed individual on Quora who went to grad school for Economics.
He’s saying that a car dealer offering a $400/month payment on a $20,000 car with no down payment is treating him “like an idiot” and that he’ll walk away. He also recommends going in at the end of the day or the end of the month…another popular myth.
Well, anyway, the answer is really popular with over 300,000 views, so I reached out to the writer to see more about his reasoning. He thought the dealer could come down from sticker price by over $1,000. He was unaware that dealer markup on a car that inexpensive is so low, it’s seriously only about 2%.
So absent any rebates, holdback, or factory-to-dealer incentives that would lower the price, I had to inform him that a dealer will only make maybe $500 in profit on that car selling it at sticker price.
He also failed to take into account the Tax, Title, and License fees that a dealer will have to collect on behalf of the state for any car purchase…another common mistake when calculating payments. If you’re using an online auto loan calculator, like the one we have in our Additional Resources section, always add 10% to the price you’ll pay to account for these TTL fees.
Finally, he misunderstood how interest works and assumed that for a $400/month payment that he would be paying 15 to 20 percent interest. I did the math for him here, as you can see in my reply. The salesperson wasn’t lying to him. He was actually telling the truth while offering an amazing interest rate by assuming the writer has outstanding credit.
Which brings me to another point…do you really know how your credit score factors into buying a car or are you just winging it? Seriously, would you like to know the truth about how to walk into a dealership with the best possible credit score?
But as I said, there are 300 thousand views of this wrong answer! Can you imagine how many people took this advice, walked into a dealership, and had an absolutely terrible grinding it out negotiation experience?
Not having a proper automotive finance education will cause you to slow down the process dramatically by hours and days…even worse, you can end up with a car that you don’t even want!
Next up are the logistics of a car deal
I’m not the smartest guy in the world, so I had to look it up just to make sure it was right.
Make no mistake about it, buying a car is a logistical operation involving the coordination of up to a dozen people or more before you actually drive home with that car.
Here we’re talking about organization, planning, management. As with anything else in life, when there is no leader, then a leader will appoint him or herself. If you are unaware of what to expect during the process of buying a car, then you will be led through it by someone who is not required to have your best interests at heart.
At least when buying a house, you’ll have a Realtor under contract who will have a fiduciary responsibility to advise and help you not to get screwed over.
There is no such thing in the car business. Out of the potentially dozen people involved with your purchase, you will be the only one involved who cares about saving the most money. Nobody, even the loan underwriter truly cares if you go flat broke three months after buying the car.
They all will have already cashed their checks, and their job is to extract the highest commitment that they can possibly get from you. Do you want people to line their pockets with your money simply because you failed to plan?
As if all of that wasn’t enough to overwhelm you…see how I used that word, “overwhelm“…because it’s designed to trigger an emotional response—bringing us to another one of our next massive mistakes when buying a car…
Buying a car is exciting! It's fun! Even thrilling!
I went on a stretch for about five years where I would buy a different car when the first oil change was due!
For real, though, consumers don’t understand how much of an emotional process, it is to buy a car, and top salespeople are highly trained to engage you on an emotional level.
If I’m doing my job as a sales rep, I’m going to watch your eyes and look for a reaction while I’m walking you to see the car you want. I’m going to look for something a little more expensive and point out how much more fun you’ll have driving something with a more powerful engine or pointing out how much better you’ll look pulling up in that ruby red with tinted windows instead of the silver one you picked out.
I’m going to listen for emotional cues based on things you say so that I can pass that along to sales management when it comes time to try and convince you to spend $80 a month over your budget.
You may think you’re the most logical person in the world, but unless you’re literally a robot, then you have emotions that can be exploited, and we know how to do it. No matter how “left-brained” you think you are, there is an emotional reason for you to want to buy a car.
We will find it and use it.
Did you get a new job? That’s exciting! Let’s impress your new coworkers.
You just got divorced…oh, I’m so sorry, a hot new car will help you move on.
This is your graduation present! Congratulations! Now you’re ready to go out with your friends in your gorgeous new car?
Oh, you’re having a new baby? That’s great! Just from my experience, you’ll probably want this very large and safe SUV with leather seats so that it doesn’t stain when messes are made.
I hope you’re starting to get the point because I can do this all day.
The reality is that buying a car comes with all of the highs, lows, and pressure tactics of a timeshare presentation…except there are no prizes or free hotel rooms at the end of this tunnel.
Is this making sense?
That brings us to our fourth and final mistakes when buying a car consumers make, and that's in educating yourself on how to buy a vehicle.
As I mentioned before, this process isn’t taught in any accredited school, and all of the information online is broken into little bits and pieces from different sources, some of whom may have relevant experience in the industry, but none of them will have sales management and finance experience consolidated into a single school like Car Buyer Class.
I already mentioned how sales teams are constantly training and sharpening the saw to get you to say, “Yes.”
What I didn’t mention was that when I was first hired into auto sales, my dealership paid for me to go to professional auto sales school to learn how to get started. It was one week, 40 hours of basic presentation training, and over a hundred hours of online manufacturer training before I could even meet a customer.
I trained for weeks to just be a rookie who can say, “Hi” to you.
That begs the question, how long have you trained to meet me as your sales rep?
If I just spent 5 hours with you and couldn’t get you to buy a car, then you just get to leave and keep driving what you’ve got. I, however, just lost a chance to make my mortgage payment or put food on the table.
And not just for my family…but for everyone else in the sales management team.
Now considering those levels of training and motivation, if you think that you’re going to out-negotiate me or my team without a formalized education, then you have maybe a 2-3% chance of getting lucky enough to move to the next step.
Sales managers participate in dozens of negotiations from open to close every day.
I might be really busy behind the desk that day, so I’ll let you go to see my Finance Manager thinking you got an awesome deal, just so you drop your guard a bit…all I’m doing, though, is sending you to a better salesman where you’ll just sit down in a closed office with a pile of confusing paperwork to fill out, and another more intense sales pitch.
One almost got me to spend three grand more than I needed to because she switched the location of two different prices on the form to see if I was paying attention.
Can you imagine if that happened to you? Let’s see how you do in there….
So that’s where we’re at, folks—the biggest mistakes when buying a car that people make.
We’ve covered how your lack of preparation in the areas of Finance, Logistics, Emotions, and Education can cause you to spend thousands of dollars more than necessary on a car…every time you ever buy a car.
Would you prefer to learn through insight as opposed to pain and expense?
That’s why I designed Car Buyer Class from the ground-up, leveraging my years of automotive experience to put myself in your shoes and show you how I prepare to buy a car.
You deserve to have confidence in your ability to negotiate an amazing deal when you go to buy a car, and I’ve made it easier than you might think.
It won’t matter if they lie to you because you’ll know the truth.
You won’t have to spend three months researching and hours at multiple dealerships to find the right car ever again.
Car Buyer Class boils the entire process of buying a car down to a proven, repeatable system of buying or leasing a car that you can use for the rest of your life.
Ultimately, you’ll work through a real-life example of buying a truck and trading in an SUV. I’ll reveal all of the tools that I use to determine accurate pricing even for used cars, and make sure that you’re very well organized and know every single step of the process as though you had my level of experience.
And don’t worry, it won’t take you the tens of thousands of hours that I took to learn the business.
Give me just 3 hours of your time, and I will train and equip you to negotiate and purchase vehicles with the same precision as I do….all the time, every time, forever.
And the system works with any new or used car, truck, van, SUV, heck I’ve even used the same techniques to buy my motorcycles!
If you can watch videos online and download PDF files, then you can learn to be a Car Buyer Class Pro.
Of course, it’s up to you, though. You can do what you’ve always done and get taken for a ride by car dealers…or you can ride out of a dealership in record time knowing with 100% confidence that you got a great deal.
Not just on the car either, but on any warranties or insurance coverages as well.
Save yourself tens of thousands of dollars, months of research, and days of aggravation.
As I said earlier, it’s like Harvard for Car Shoppers. Do you want your degree?
Click to Get Started today. Don’t worry…all the classes are free.