BALLOONS AND FLOODS
Balloon loan types
No guarantees
Only sound like a lease
Starting low and ending high
Refinance blues
Long-term alternative
They are everywhere
Avoiding a flood unit
Beware of location
Areas to identify
Don’t be price blind
Low payment savvy
Long term maybe
Dealing when you’re in a hurry
Where is the data?
Which SUV equals resale
Sales and F&I are up everywhere
Buyer beware when rushing
Due diligence in a hurry but do it
Phone and Internet
A one-price store?
One day, use the entire day
Be assertive, not aggressive
Only count on what is in writing
Aftermarket exceptions
What slows you down?
Something is better than nothing
The basics of the basic
More about credit
The eight no trade credit states
Bad credit sources.
Ridiculous rates
Beacon levels
50 percent or more, down payment
What’s the quality?
Buy here pay here is tough
Churning
Laws that help
What states can do and the country should?
Secondary finance sources are better then BHPH
Get some testimonials!
Old credit cards
You can shop!
First Time Buyer
Dealer reserve payments are going up
CFPB help is ending
Dealer fee is another profit
More risk, more rate
Know your budget
FTB, finance first, buy and negotiate second
Financing has many sources
Referral letters will help
Cosigners can trump everything
Improve the risk
Let the dealing begin
The news about the CFPB arbitration rule, protect it.
Fees are a con
Great negotiating requires great due diligence.
Being rude or angry does not work, assertive not aggressive.
Avoid cash or shopping talk.
No matter what you offer, the dealer will try to bump you.
Always hold your lips together tightly and listen.
Acknowledge and ask for more.
Don’t take the other people’s position or attitude personally
ACV verses allowance.
Either way works but one at a time works best
The best negotiating is no negotiating.
Education is the best ammunition.
Quick list.
When the research is finished
One percent more
Off lease tidal wave
Auto complaints are second to one
Forget the ads
Baiting the buyer
Swapping terms
Packing
No spot delivery
Know your beacon
Never today only
Sales pressure
Don’t be afraid to walk
Online research is paramount
FTC and what it does update
Tesla electric
The Internet for today’s deal.
Get the facts and leave the rest.
Book prices but stiff shop it
Bank rates and terms
Internet quotes. Assertive not aggressive
Safety sites
Background check
Beacon
BBB
Go in armed with the facts
Electric and gas
Serious Upside down
Negotiate the finance
Focus on the purchase first
Separate loans
Remember the anti upside down list
Types of electric vehicles
Hybrid
Total electric
Low limits
Finding a power source
Cost is huge
Resale is a guess
Environmental questions
Don’t do it:
The definitely don’ts and a few do’s
A 25 list to remind you
Never talk price while picking
Always test drive
Think about the future, fitting needs, resale value, etc.
Never deal without talking to the banks first
Never talk payments with facts
Always, auto check
Nineteen more
Six Leasing don’ts
Never give up
All in all, stick to Deal Talk
One price is about the dealer
Shopping your vehicle is paramount
True one price is a culture
Why one price?
2+2 is not 5
Negotiating is a happier customer
Usually the higher average
Don’t let your guard down
Due diligence is the key
Lower overhead and better averages
As always, OTD is the answer
Everyone will get something out of this book
Don't be this guy
Geoffrey Jerome
After 35 years in the automotive industry I know how to get a great deal!
If you have a question, email me and I will get back to you. Dealtalkpodcast@gmail.com
Geoffrey has written a number of business books and now writes fiction titles for both children and adults
Fott's Journey: Ages 4-9
Fott's Butterfly: Ages 4-9
Marshal Gold: Western action for adults
