1 00:00:00,000 --> 00:00:01,559 Ralph: So here's the question for today. 2 00:00:01,860 --> 00:00:07,560 Have you ever felt duped by those obscure charges tacked on to your auto purchase or lease? 3 00:00:07,979 --> 00:00:09,600 If so you're not alone. 4 00:00:09,930 --> 00:00:16,290 I had this very issue a few months ago when my wife and I were buying a new Toyota minivan, and boy was I annoyed. 5 00:00:16,650 --> 00:00:19,860 So stay tuned today as we explore the frustrating, fine print. 6 00:00:20,279 --> 00:00:24,919 Of dealer fees And more importantly, what you can do to combat them be prepared. 7 00:00:24,919 --> 00:00:26,419 Ralph's going on a rant today. 8 00:00:56,522 --> 00:00:58,172 Welcome to our wacky Wednesday show. 9 00:00:58,202 --> 00:00:59,972 I am so glad you chose to join us. 10 00:01:00,242 --> 00:01:02,852 I just want to thank you for listening and supporting the program. 11 00:01:03,242 --> 00:01:07,472 I'm Estep Farm in the beautiful Saggio Accounting studio today. 12 00:01:07,742 --> 00:01:13,052 Let me put on my podcaster hat and put down those overalls and shove that adding machine to the side. 13 00:01:13,052 --> 00:01:20,972 And let's get into some financial wisdom from a Christian perspective today, we're talking about the bane of many car buyers existence. 14 00:01:21,032 --> 00:01:23,642 Once dealer added junk fees. 15 00:01:24,362 --> 00:01:34,772 These pesky charges for navigation systems rust, proofing, window etching, and more can quickly add hundreds or even thousands of dollars to your automobile purchase. 16 00:01:35,222 --> 00:01:37,862 I'll share my own frustrating dealer fee stories today. 17 00:01:38,102 --> 00:01:45,242 Some common schemes to watch out for, and most importantly, tips to fight back against these schemes for fair treatment. 18 00:01:45,282 --> 00:01:47,592 Don't forget to subscribe to the show and join our email list. 19 00:01:47,622 --> 00:01:52,422 You do that at askralphpodcast.com so you don't miss tomorrow's show tomorrow. 20 00:01:52,452 --> 00:01:58,662 We're going to be talking about gift taxes, what they are and how do they impact both the giver and the receiver. 21 00:01:59,112 --> 00:02:00,912 It's a topic you don't want to miss folks. 22 00:02:01,366 --> 00:02:08,442 So let's start today with our Bible verse today's Bible verse comes to us from the book of Proverbs chapter 13, verse 11, and it says this. 23 00:02:08,492 --> 00:02:10,002 This is a great one. 24 00:02:10,392 --> 00:02:12,432 Dishonest money dwindles away. 25 00:02:12,852 --> 00:02:16,482 But whoever gathers money, little by little makes it grow. 26 00:02:16,602 --> 00:02:19,842 What a great verse as we seek to grow our finances, little by little. 27 00:02:19,892 --> 00:02:27,932 As we discuss questionable dealer fees today, may this verse remind us of the value in ethical financial dealings that build trust and prosperity. 28 00:02:28,513 --> 00:02:33,942 Buying or leasing a new car should be an exciting time for your financial journey, whether you're upgrading your ride. 29 00:02:33,942 --> 00:02:35,892 After years of driving old Betsy. 30 00:02:36,222 --> 00:02:42,462 Our purchasing your teenager's first set of wheels, a new vehicle often symbolizes possibility and freedom. 31 00:02:42,462 --> 00:02:46,542 I remember when I was 16, it was such a thing of freedom to get behind a wheel. 32 00:02:47,142 --> 00:02:51,822 Unfortunately, the bliss of a new car ownership can quickly shift to buyer's remorse. 33 00:02:52,152 --> 00:03:00,222 When you realize the final price, bore little resemblance to the advertised sticker price, that's assuming you can even get a real copy of the sticker price. 34 00:03:00,582 --> 00:03:01,812 Believe me, I've been there. 35 00:03:02,112 --> 00:03:08,202 A few years back when money was really tight, I found what seemed like an unbelievable lease deal on an SUV for my growing family. 36 00:03:08,532 --> 00:03:20,132 However, after four hours of sitting into dealership, they wore me down with ad-ons like an overpriced alarm system, nitrogen filled tires Who knew that you needed nitrogen filled tires and paint sealant. 37 00:03:20,762 --> 00:03:23,762 By signing the dotted-line exhausted late to pick up my kids. 38 00:03:23,762 --> 00:03:25,622 I'd realized I'd been bamboozled. 39 00:03:25,952 --> 00:03:29,132 Into paying several thousand dollars above sticker price. 40 00:03:29,552 --> 00:03:31,622 Whatever happened to truth in advertising. 41 00:03:32,252 --> 00:03:33,692 While my ego was bruised. 42 00:03:33,692 --> 00:03:35,552 I learned a lot about common schemes. 43 00:03:35,852 --> 00:03:38,072 Dealerships use to inflate profits. 44 00:03:38,492 --> 00:03:42,512 These include things like slipping in various junk fees during finance negotiation. 45 00:03:43,022 --> 00:03:52,022 Refusing to remove these charges when called out and waiting till the 11th hour, when buyers are worn out before presenting the real price, shady. 46 00:03:52,562 --> 00:03:54,332 Sad, but all too common. 47 00:03:54,812 --> 00:04:00,332 Since that I'm pleased to say I purchased a new car and new or used vehicle without paying a dollar in junk fees. 48 00:04:00,632 --> 00:04:01,712 So how did I do that? 49 00:04:01,712 --> 00:04:03,152 Well, that's what we're going to talk about now. 50 00:04:03,512 --> 00:04:07,502 I followed these three key steps and these really are the three key steps 51 00:04:07,502 --> 00:04:07,952 first. 52 00:04:08,342 --> 00:04:11,672 You've got to do your homework before ever stepping foot in a dealership. 53 00:04:12,092 --> 00:04:14,072 consumer sites like edmunds.com. 54 00:04:14,072 --> 00:04:22,862 Breakdown, what the fees are, legitimate fees in your state, the average pricing for different models and what incentives you likely qualify poor. 55 00:04:23,312 --> 00:04:28,262 I printed all of this data, including fair market purchase price ranges for easy reference. 56 00:04:28,442 --> 00:04:30,152 I printed it and took it to the dealership. 57 00:04:30,392 --> 00:04:35,642 Secondarily, when the finance manager starts slipping in charges for theft deterrent systems. 58 00:04:35,882 --> 00:04:38,672 Nitrogen filled tires or exterior paint production. 59 00:04:39,062 --> 00:04:41,282 Camly ask them to remove each item. 60 00:04:41,612 --> 00:04:47,882 If they refuse, remind them that you have thoroughly researched fair pricing for this make for this model and the trim selected. 61 00:04:48,302 --> 00:04:54,782 If needed pull out your printed reference sheets, commonly restate that you will not be paying anything or added products at this time. 62 00:04:55,142 --> 00:04:57,752 Listen folks, this is where these finance guys make money. 63 00:04:57,752 --> 00:05:02,072 And I don't begrudge them making money, but you have the right to buy what you want to buy. 64 00:05:02,132 --> 00:05:10,262 And finally, if the dealership still refuses to budge on, removing junk fees, stand up politely and tell them, you'll take your business elsewhere. 65 00:05:10,502 --> 00:05:12,542 Then turn around and walk out the door. 66 00:05:12,902 --> 00:05:21,542 With internet research on fair pricing, you can quickly visit another dealer and reference the first's inflated charges as a reason to earn your business. 67 00:05:21,722 --> 00:05:22,922 It worked for me more than once. 68 00:05:22,922 --> 00:05:23,942 That's the honest to God truth. 69 00:05:24,302 --> 00:05:29,462 Now, this has been a bit of an issue for the past several years, since the shortages of inventory with COVID. 70 00:05:29,852 --> 00:05:35,552 But I had dinner with a friend who works at a dealership this weekend and he told me the inventory is actually starting to grow. 71 00:05:35,792 --> 00:05:38,612 And he's seeing more haggling in the dealership where he works. 72 00:05:38,612 --> 00:05:41,342 So there are positive changes coming to the auto purchase process. 73 00:05:41,942 --> 00:05:45,602 beyond these specific tips, as we said, Proverbs 13, 11 offers guidance. 74 00:05:45,682 --> 00:05:50,452 dishonest money dwindles away, but whoever gathers money, little by little makes it grow again. 75 00:05:50,692 --> 00:05:51,562 What a great. 76 00:05:52,012 --> 00:05:52,522 Verse 77 00:05:53,062 --> 00:05:55,822 unethical business practices may generate short term gains. 78 00:05:55,822 --> 00:05:56,122 Sure. 79 00:05:56,302 --> 00:05:57,772 The dealer might make that sale. 80 00:05:57,772 --> 00:06:03,292 They might get those extra ad-ons, but the truth is they erode customer trust and loyalty over time. 81 00:06:03,742 --> 00:06:07,102 Dealer seeking faithful customers focused on value. 82 00:06:07,102 --> 00:06:10,552 will tread carefully on fees, seen as deceiving buyers. 83 00:06:10,732 --> 00:06:12,052 They need to be honest with you. 84 00:06:12,052 --> 00:06:15,142 They need to present all these things to you as something you don't have to buy. 85 00:06:15,322 --> 00:06:18,742 One of the things that really annoyed me, we just recently bought a minivan. 86 00:06:18,742 --> 00:06:20,692 We cart our two German shepherds around him. 87 00:06:21,112 --> 00:06:30,832 And unfortunately, one of those things that have been on order for a while, when we got to the dealership, they had already added this flashing light on the back and etching and this and that, and the other thing. 88 00:06:30,832 --> 00:06:32,782 And I basically said to him, look, I don't want all those things. 89 00:06:33,232 --> 00:06:37,222 And they politely said to me, well, Ralph, if you don't want it, we've got other people lined up to buy it. 90 00:06:37,552 --> 00:06:44,782 So unfortunately until all of these inventory issues resolve themselves, you're just going to have to look and do some comparison shopping. 91 00:06:45,142 --> 00:06:46,162 Now here's the deal folks. 92 00:06:46,372 --> 00:06:50,602 We should extend grace, but also stand firmly for fair treatment. 93 00:06:50,602 --> 00:06:59,962 When being taken advantage of in that case, I basically had to buy those things because truth be told there wasn't another dealer who had the same vehicle that I could go and buy. 94 00:06:59,962 --> 00:07:10,062 So before we wrap up Ii want to remind all of our listeners to visit our podcast page at askralphpodcast.com there you can leave us a review, share your thoughts, Or even send a message with questions for future episodes. 95 00:07:10,062 --> 00:07:13,992 If you want me to take a rant on something, share what's going on in your world. 96 00:07:14,382 --> 00:07:14,802 While you're there. 97 00:07:14,802 --> 00:07:19,572 Make sure you join our email list so we can send you our daily email with what's going on with the show. 98 00:07:19,602 --> 00:07:21,822 And if you need some specific guidance. 99 00:07:22,152 --> 00:07:24,522 You're welcome to schedule a consultation with me right there. 100 00:07:24,762 --> 00:07:26,922 Now if you know someone who's in the market for a car. 101 00:07:27,312 --> 00:07:32,352 I'm going to encourage you to share this episode with them and help them avoid being taken by these dealer junk fees. 102 00:07:32,352 --> 00:07:42,162 And ad-ons sort of my personal mission for today is to try to educate people and bring them to a level of awareness about these ridiculous fees. 103 00:07:42,342 --> 00:07:43,692 So let's do a bit of a recap. 104 00:07:43,992 --> 00:07:47,712 In this episode, we explored the frustrating world of dealer added junk fees. 105 00:07:47,922 --> 00:07:53,802 They're often slipped into car purchases and leases, right at the last minute from alarm systems to paint sealants. 106 00:07:54,162 --> 00:07:56,652 Another thing they put on these fabric coating. 107 00:07:56,832 --> 00:08:00,192 Things these charges can add thousands to your automobiles purchase price. 108 00:08:00,492 --> 00:08:03,162 We covered my personal stories of being duped by dealers. 109 00:08:03,402 --> 00:08:15,462 We talked about typical junk fee scams and specific negotiation tips to refuse these fees and drawing wisdom from Proverbs 13:11, listen folks, the key is doing your homework on fair local pricing. 110 00:08:15,852 --> 00:08:20,592 firmly refusing added products and be willing to walk away and buy elsewhere. 111 00:08:20,592 --> 00:08:22,092 Listen, it's an emotional experience. 112 00:08:22,092 --> 00:08:22,602 I get it. 113 00:08:22,962 --> 00:08:25,272 But you've got to stand your ground and do what's right. 114 00:08:25,272 --> 00:08:30,252 So please visit again askralphpodcast.com for more financial advice, grounded in godly wisdom. 115 00:08:30,482 --> 00:08:31,262 May God bless you. 116 00:08:31,262 --> 00:08:31,832 Abundantly.