Never Tell a Dealer Your Monthly Payment Here’s Why

The same $500 a month can buy a $21,000 car or a $33,000 car. The only thing that changes is how long the loan stretches. “What monthly payment works for you?” sounds like customer service, but it is the car dealer monthly payment trick. Max walks into a dealership, names a number, and watches the loan term stretch like gum. In this video you’ll see how an 84-month car loan lowers the payment but raises total interest, and how it can leave you with negative equity (owing more than the car is worth). You’ll also see why negotiating the out-the-door price beats negotiating the payment. The figures come from the New York Fed, Edmunds, Kelley Blue Book and the CFPB, and the loan examples are illustrations, not quotes. #CarBuying #CarLoans #PersonalFinance #CarDealer #MoneyTips #StickmanFinance Comment question: Last time you bought a car, did the dealer ask what monthly payment you wanted, and what number did you say? This video is for education and entertainment only, not financial advice.