| Welcome Back!! | It’s June, which means summer is here BUT ALSO car dealerships are about to flood your feed with “Summer Sales Events”
Those events are normally complete bull sh*t and are huge marketing gimmicks. My mom worked in the Marketing division in the car industry, so I learned all the ins and outs of how this works. | Dealerships start panicking right about now if they have TOO MUCH of last year’s inventory. So they start running ‘sales events’ to get you to buy.
These car dealerships are gonna try to finesse you, but today, I’m gonna teach you how to finesse them 😇 | | The Checklist (Don't You DARE Walk In Without This) | Before you even think about going anywhere, you need four things locked in: | Your FICO score: Not just any credit score. a FICO score!!! Very important. The car you want: Not a general idea. An actual car. Year, make, model. What you can afford monthly: And be HONEST with yourself here. How much you have to put down: We'll talk about this in a second 👀
| | The Zero Down Rule | This is my golden rule: Always shop for a car assuming you're putting zero dollars down. | Why? Because if you can't afford the monthly payment with zero down... you can't afford the car. Period. End of conversation. No more talking. Shut up.
If you decide to put money down, that’s okay! I don’t hate you 🤣 I would just advise on keeping your down payment to yourself. Going to the dealership is like playing UNO. Don’t ever show your opponent your hand. | | | The Out-The-Door Price | Dealerships are REALLYYY good at making you focus on the monthly payment instead of the real number. | "Only $489 per month!" Cool. For how long? At what interest rate? What fees got slid in there? | You need to demand, and I’m talking DRILL IT INTO THEIR SKULL… the out-the-door price. That's the total. Tax, title, fees, dealer BS, all of it. | If they try to dodge it? Say it again. And again. And again. | You are not leaving that establishment without an out-the-door price. Be annoying as hell about it. If they refuse to give it to you, you leave.
Leaving the dealership is the closest thing to you giving the dealership one of these 🖕 | | Lease vs. Finance: The Ultimate Debate | This is where most people mess up, so pay attention. | Leasing gets a bad rep because "you never own it." True. But here's what people miss… you also NEVER have to worry about depreciation. ANDDDD if you decide at the end of the lease you wanna keep the car, guess what? You tell the dealership you’d like to own it and you just finance the car going forward. Lease’s don’t ALWAYS end with you handing back the keys. | I had a BMW electric car. Leased it for three years. Depreciated like CRAZY. When my lease ended, I didn’t care. I gave them the keys and took my ass back home. Never had to worry about the depreciation. | Had I financed that same car? I would've been upside down by over $10,000 because of how hard EVs and luxury vehicles depreciated. | Financing, on the other hand, makes sense, but only under the right conditions: | The car holds its value (think Toyota, Honda) The car will still be running strong by the time you pay it off (again, think Toyota, Honda) You're actually building towards ownership of something worth owning
| The golden rule: Lease things that depreciate. Finance things that hold value. | BMW’s, Mercedes, Jeeps - Lease those things.
4Runners, Corolla’s, Civics - Finance those. | | The Dealership Doesn't Want You to Know Any of This | Trust me. If a car dealership knew what I just told you in this email, they would hate me. These people feast off of our lack of knowledge in this space. If you learn, you win. And today you learned ;) | | What would Stack do?
Stack is a Responsible Adult and he would go to the dealership with his checklist ready. he never goes unprepared. Responsible Adults are ALWAYS prepared.
Responsible Adults also follow the Responsible Adult Instagram 🤣 If you guys haven’t already, there’s tons of daily content being posted on the Responsible Adult IG that Stack and I would love for you to check it out. | Go be a Responsible Adult and have the best day ever! ❤️ | Mikey (& Stack 🦥) | www.responsibleadult.life |
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