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People Who Make Down Payments and Think They Got a Deal

Deshone The Auto Advisor 647 views

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For every $1000 you put down it’s only $1900 to $2000 per thousand you put down taking off your payment so if you put $4000 thsts $80 off your payment it’s best keep your money put what you can but keep your money your payments are still gona be the same bout
Comment from : @alexburgos9765

Yes I need the best advice
Comment from : @celestineglenn3939

Bro we all know this😂
Comment from : @LoonHandles

This isn’t rocket science 😂 but maybe helpful for beginners
Comment from : @glam6795

That same 5k you could find a use car cash and keep riding
Comment from : @kaitlynrich5540

If you can't put 10 percent down and pay it off in 4 years you can't afford it
Comment from : @kevinblount267

Duh 😂
Comment from : @crystalchavez2554

When we were looking at a car, I looked at the price, interest rate and whether I could pay it off in two years Looked at quite a few until we found one ( that hubby wanted) Paid it off in a year That’s how you don’t lose your butt
Comment from : @niki9638

I never put a down payment on a vehicle
Comment from : @tracysmedley5602

The number one mistake was shopping on payment, and not the out the door price
Comment from : @brettyoung5297

Down payment lowers the loan cost meaning Less car note What are you saying lol
Comment from : @alibabasaluja6764

I haven’t financed a vehicle in 2 decades, but I know you never buy based on the monthly payment These long term car loans they have now will have people NEVER paying off a car loan
Comment from : @ghostwrench2292

The more you put down the more you save on interest
Comment from : @Jpen1970

Buying based on only the monthly payment- first mistake
Comment from : @patriotinsurgent1421

Duh Tell us water is wet while you’re at it!
Comment from : @sheratonwelch1967

A car dealership get alot of customers with that method Plus the Sales person is looking to get a higher commission off each car sold
Comment from : @foreverme222

Obviously duh 🙄
Comment from : @JayVipGaming

This makes me question who is watching your videos The fact that you would have to explain this is shocking
Comment from : @TheToolBoxWhisperer

Car sales people should be indicted for some of the things that they do to uninformed people
Comment from : @zyrover

In this case best idea would be to buy a car for 5 grand and walk away without down payment and monthly payment
Comment from : @omicronceti6063

Hell with 5k you'd better off finding a cash car
Comment from : @texascyclone89

basically paying off a few of your notes instantly
Comment from : @hju392

Well Explained
Comment from : @polywoodtruckingllc

That sounds like a deal to me
Comment from : @tylerpoling277

If you cant pay cash you cant afford it
Comment from : @brucemorrison3563

Just buy to own you guys,
Comment from : @Badhxbits

Dealers love monthly payment shoppers
Comment from : @rockwallcares5084

I’d rather save , a buy a great reliable cash car!
Comment from : @Shay-34

Everybody knows that I thought😅😅😅
Comment from : @CHRISFREE84

This is a welcome surprise to see you post another video!
Comment from : @Don-jo8gn

It is a deal let's assume a total of $50,000 for the vehicle If you put down $5000, that means you will not have to pay interest on the $5000 that you do not borrow That's why it is a lower payment brbrThe lower amount borrowed means a lower total amount paid in the endbrbrNow, this is assuming the length of the loan or interest rate doesn't change whether you put money down or not
Comment from : @CobbyLouis

bruh i thought this was common sense
Comment from : @joseandra9938

Never talk about monthly paymentbrAlways fight for out the door pricebrMake sure they dont sneak in extrabrBs at the end, if you choose, addbrA down payment
Comment from : @AZ_WEDDO

How much is the car? Not the payment
Comment from : @Zwrld781

This only applies to people with bad credit in my opinion 2021 during covid prices were high i bought 14 honda pilot 80k miles total paid with fees and all $21,000 i put $6000 down but my credit score is good i end up getting a 1 interest rate loan my payment $254 monthly 60 months Fast forward to today i have 3 years in owe $6500 on the car and its still worth $10500 That down payment gives you equity in the car
Comment from : @noeld9910

My personal rule is to never finance more than 20K on a vehicle at the absolute most and never for more than three years That way the payments are low enough to afford if I face income loss but can easily be doubled or tripled if I’m bringing in a lot of money to pay it off faster
Comment from : @veronicashields4405

I’m not sure what kind of people you’re dealing with, lol, but the only reason to use a down is to have a monthly payment you can live with
Comment from : @carl2486

I dislike when people think of terms of how much the monthly payment will be instead of how much the actual total cost of whatever they're trying to be is I rather be told it's going to be $60K than $600/month for X months
Comment from : @AvocadoCotijaCheeseConnoisseur

If you need to be told this, you have no business even going to any dealershipperiod
Comment from : @timburns4216

I subscribed just from this short!!!
Comment from : @acreativespacetv

You’re not doing anything? But if the client tells em I have a 400 score can you maybe get it to 500 a mos ITS DOING SOMETHING This is why these videos you don’t subscribe too
Comment from : @anthonymelchor-bh4yb

Hide your down payment easy adjust your interest rate
Comment from : @yesidrive

Lol the SSN supposed to pay it off at close lmao definition of finance charge
Comment from : @djdiako55

Ty for posting this
Comment from : @key981

What he is saying seems pretty clear to me, those buying cars are slow asf
Comment from : @waitjohnson4441

its really just basic math, car deals arent that complicatedpeople arebrbrgo in unprepared your gonna get hosed, only one to blame is yourself as you have all the power and fumbled the ball
Comment from : @kirkdunn1379

Never do down payment Always tell them u want zero down
Comment from : @webguy943

Wow it’s that easy to fool the average joe…daaaym…thats silly lol
Comment from : @WordMadeFlesh777

Don’t buy vehicles without putting down at least 20 so you’ll always be able to trade and have something without issues Unless you bought a car in Covid
Comment from : @bryceonthethrottle

You also don’t wanna finance your State tax, Registration Fees 😂😂 I Always Give a Down payment to Tackle the closing fees
Comment from : @CarlosAlberto-xx3of

How can a salesman say 600 a month without know what numbers they are working with?
Comment from : @ohkboomer9088

you're a smart guy, love your content BUT The problem with this advice: "how much is this car?" should ONLY mean "What is the actual price of this car"? Buying based on a payment not on a price means you cannot afford the car Buy a car that's either close to or all cash or at most 24-36 months that's key
Comment from : @chrisengletx

I put a down payment on my loan…so i’m not paying as much over time so down payment went directly to the bank Salesmen was honest and said be couldn’t go down thousands on the car so i got him down 600-700$ Downpayment just eases the loan payments and makes it easier to get the loan Work with your bank not the dealership 🧪
Comment from : @207greenroom207

Ok, but who doesn't know that!? It's common sense! Don't make a major purchase if you don't understand the financials of the situation!
Comment from : @thisismichelletorres444

Thats why you want to know total cost and not let them know how much you can afford on a monthly basis They will back you into the payment you can afford without realizing how much you end up paying total Figure out the total cost out the door and negotiate on those things you can negotiate In this market it's harder than it used to be but the concept still applies
Comment from : @Hyper_Driven

The down payment goes straight into the salesman pocket
Comment from : @gooserich3970

People are so bad at math it's incrediblebrIf you're talking about monthly payments you already lost
Comment from : @tommyfu9271

You can also fool yourself into a lower payment by adding another year or two Lower payment yes, but overall in debt longer and paying thousands more in interest
Comment from : @pickmeaname

Basically ur saying customers are just so stupid common sense and financial knowledge is missing in their life
Comment from : @entertainmentinternational1087

I never give a down payment 🤷🏽‍♀️ when your credit is good You also hold negotiations power I let them know ahead of time I don’t like salesman Please don’t waste my time
Comment from : @tonyamenyweathers4082

2000 per month in payment for every 1k you put down, definitely not worth it
Comment from : @Oddduck39

It can affect what your apr is tho which directly impacts monthly payments
Comment from : @RaginOfficial

I have never ever played any games like this buying a carbrAny salesman that says 600 a month and not the price of the car gets the BOOTbrStraight upbrSMH
Comment from : @DoD890

Whoever did not know this already, needs to refrain from buying anything that requires a down payment 🤦🏽‍♀️🤦🏽‍♀️🤦🏽‍♀️🤦🏽‍♀️🤦🏽‍♀️
Comment from : @MrsTatiW1987

I always put no money down and my credit score is 850
Comment from : @lukecywalker

Who the fuck even needed this explained to them
Comment from : @jacobwellmann479

I put a down payment on a car yesterday after I got them to go under invoice and drop all bogus fees Got the car down to $26,125 remaining after I put the $2500 down My interest is 449 but payments are $415 Why is that? Why are they not cheaper and based on the remaining $26,125 It’s like they are still charging me interest on my down payment
Comment from : @barbariancauldron3284

The fact that cuz had to explain this is an indictment of American schools failing to teach financial literacy
Comment from : @CQNova

That’s just common sense folks🤷‍♂️🤡🌎🥳🍀
Comment from : @Already100

😂Capitalism gone wild😅
Comment from : @eddiewest8477

Factz
Comment from : @hashb1

Does anyone actually think a down payment "gets them a better deal"? That's the first I've heard of that
Comment from : @ewicky

Who doesn't know that? Lol
Comment from : @Jm-fn5nd

Compared to the original plan, it is in fact a 'deal' You are cutting your interst payments You save with lower interest payments Duhhhh
Comment from : @yxmichaelxyyxmichaelxy3074

Down payment means fewer interest payments Duhhhhh
Comment from : @yxmichaelxyyxmichaelxy3074

Oh man why didn't I find your channel 2 years ago? Great stuff brother
Comment from : @arthurresendez

You would think this is common sense but none the less people need to know
Comment from : @Brandonmarshall19

love this, if u were only around 40 years ago i would be a rich man !
Comment from : @markazinker3212

Structure of mortgages
Comment from : @ywoulduchoosetousethis

so I want to buy a Mazda cx-50 the otd price will probably be 38,000, so I want to make about a 28000 down payment, and pay the rest over 3 years since MAZDA has a 36 month 0 percent APR thats good right?
Comment from : @blakespower

Do you really think intelligent people dont know this?? Dumb people wont listen so you're basically wasting your time
Comment from : @gyut56re3

Unless you pay it outright w/ warranty Why didn't your page come up till after a purchase? Well haven't had any trouble so far except from negros & peck woods ✌️_Not Really
Comment from : @tyrooneyfromdababooney7585

Take someone with you who's been through the foolishness that dealers play Someone who can reel you back in before you make a huge mistake
Comment from : @jdb7918

I worked at a dealership in Arizona and I would focus primarily on what you were looking to pay a month for example your car would be 20k and we would put a 3k pack on it plus tax title and license you’re driving off at like 27-28k that’s not including warranty or gap insurance 🤷🏽‍♂️
Comment from : @MikeyVP-n8l

Remember, there is a thing called positive and negative equity Before I bought my new car, I made sure my current car was in the positive I used my car as a downpayment I only owed $550000, and the car was worth $10,50000, I even negotiated my APR I paid my original car off early, so that allowed me to get back my warranty A lot of people forget your warranty is worked into your monthly payment, so you are entitled to a refund if you payoff or turn your car in early The refund amount for the warranty was $300000 The total amount put down on the new car was $850000 No money left my pockets The old car was paid in fullall positive equity went into my new car People dont realize that sometimes your new monthly payment will be higher if you have a negative balance left on the old car That balance does not disappear It rolls into the new car, which causes your new monthly payment to be sky high Positive equity vs negative equity
Comment from : @MissSenex

Literally nobody thinks this, plus a dealers bill of sale shows both the payments as well as the breakdown of the money line for line If your sales price or trade value doesn't change how would you think you're getting a better deal obviously you're making payments on a smaller amount because you made a down payment
Comment from : @Millionaireclean