How to buy a car without getting ripped off (Marketplace)

How to buy a car without getting ripped off (Marketplace)



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How do you buy a car without getting ripped off? We go undercover to investigate how some dealerships push long-term loans without explaining all the risks.

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38 thoughts on “How to buy a car without getting ripped off (Marketplace)

  1. I remember shopping for a car and the salesmen told me if i wanted to buy a car in full he's going to jack up the price unless if i finance my car for 5 years. I'm never trusting sales men that only let you do the expensive option

  2. What! Is this story real? Hyundai's have 10 year 100,000 mile bumper to bumper warranty on their new cars. Those issues she had should have been free fixes on her car.

  3. When i was a kid in the 70s cars lasted 10 years, now they last 10-20 with proper maintenance. Most salesmen do not know anything about contracts and financing. I am in sales and it is hard. I think if they do not misrepresent anything that has been okay, if they give Dad-like advice that is a bonus but not lying and not ripping you off is enough that they should escape being called misleading. It is monumentally hard. I explain things 6 times to my customers selling other non-car items on open loans and I warn people because my dad was an accountant and I know how to read contracts. Nonetheless, most customers do not have the patience to sit and hear a full explanation and some feel insulted when I give Dad advice. Most think it sounds too complicated and scary and confusing and adding too much Dad advice will make you sell nothing. Being open and honest is I think reasonable. Sales is so incredibly hard most people would never even try. I have integrity and I lose a lot of business because my truth does not sound as attractive as the lies or misinformation from some ignorant or dishonest salesmen.

  4. To be fair, the salesman IS telling them the truth and being honest. He says it is an open loan and they can pay it off anytime and it would be good to do that. That is completely true. People already know that is hard. Calling it troubling is unfair to the salesman.

  5. I don't see what's wrong with an interest-free loan in the old days after paying for oil changes maintenance and repair plus the total combined accumulated interest be paying a lot more back then than today. Now if we could only get the government's power back to print its own money without having to pay interest, which is greater by many multiples than the principal we owe, we could once again fund or social programs and infrastructure very easily and most importantly take it off very quickly, you see Canada lost its power to print its own money without paying interest back in the 60s when the Central Bank of Canada really was the People's Bank facilitated by the government on behalf of the people. That is no longer the case, and it is the biggest contributing factor to our enslavement and we're not even aware of it, the irony being opposed to no interest car payments while we're paying an interest on money printed for us by European families at an interest by which not even our great-great-grandchildren will be ever able to pay it back, please consult with constitutional lawyer Rocco Galati versus the privately owned Central Bank of Canada

  6. I KNOW PEOPLE WHO BUY CARS ON A 7 YEAR PAYMENT PLAN , THEY PAY 3 YEARS AND THEN DO INSURANCE FRAUD BY CRASHING THE CAR SO THAT THE INSURANCE PAYS IT OFF. SOMETIMES THEY WILL DAMAGE PARTS THAT CAN EASILY BE FIXED AND THEY CASH IN ON THE INSURANCE CLAIMS AND FIX THE CAR THEMSELVES WITH BOLT ON PARTS. AND THE INSURANCE COMPANIES CAN'T DO ANYTHING ABOUT IT SINCE FULL COVERAGE IS REQUIRED ON FINANCED VEHICLES.

  7. And don't get taken in by the "extras"; the rustproofing, the paint or fabric treatment or anything else. Those electronic modules that prevent rust is a total waste of time and they are big coin.

  8. Isn't this just common sense? 0%financing for 72 months is good. Why would u pay it out quicker when you're not paying any interest? I'd rather keep that money in my bank

  9. This girl is super uninformed! I don't blame the dealers, although they are scum! I blame Canada's educational system! She should sell the car asap and get $1000 dólar beater! Save an extra $1000 for eventual repairs and be done with her negative equity in a couple of years!

  10. If I sold cars, I'd only want to make a sale if each party would be getting what they needed. If the business is legit, then that should be the case. That's probably one of the factors to why I don't sell cars.

  11. I’m almost 28 and have only had used cars, it’s what I’ve been able to afford for now. Dealership loans should only be agreed upon when you know for certain the payments can be made as well as the insurance policy for it, not to mention any repairs that would be necessary down the line. Vehicles are expensive and I’d love to have something shiny and new but it’s not realistic. Please truly think about what you’re getting into before taking that leap!

  12. Heartbreaking to see this happen to her 50k for a Hyundai. I say repo that junk save enough money to buy a used cheap vehicle to move around. Wasting her youth killing herself working two jobs. you can see the stress in her face.

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