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How to buy a car without getting ripped off (Marketplace)

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How do you buy a car without getting ripped off? We go undercover to investigate how some dealerships push long-term loans without explaining all the risks. To read more: http://cbc.ca/1.4402394 »»» Subscribe to CBC News to watch more videos: http://bit.ly/1RreYWS Connect with CBC News Online: For breaking news, video, audio and in-depth coverage: http://bit.ly/1Z0m6iX Find CBC News on Facebook: http://bit.ly/1WjG36m Follow CBC News on Twitter: http://bit.ly/1sA5P9H For breaking news on Twitter: http://bit.ly/1WjDyks Follow CBC News on Instagram: http://bit.ly/1Z0iE7O Download the CBC News app for iOS: http://apple.co/25mpsUz Download the CBC News app for Android: http://bit.ly/1XxuozZ »»»»»»»»»»»»»»»»»» For more than 75 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.
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Text Comments (3890)
Solon Peet (3 hours ago)
Teng Hui (10 hours ago)
lemon law doesn't exist in canada? what about warrantees?
Tomas T (22 hours ago)
Vinny Gumbats (1 day ago)
I don't understand why people can't use the simple formula of payment plus years of the loan. THAT is the price of the car! $300 x 60= 18,000 or $450.00 x 60= 27,000.......not hard. When the salesperson says I can get you in this car for $325 for 60 months, THAT is the price of the car! 325 x 60= 19,500.
RobSousa (1 day ago)
Walking is a lot cheaper!hahaha
Ronald Boring (1 day ago)
Can I trade in my wife and pay $800 a month for Jenny?
Mr Carson (1 day ago)
So 168 for 2 weeks for 84 months is almost 29k, for a golf? Who the hell drops 30k for a VW Golf?
mack cummy (1 day ago)
Hyundai has low resale so that is why it's not good to do long leases.
mack cummy (1 day ago)
pfft she should have bought a Civic and not a Hyundai.
mack cummy (1 day ago)
She works 10 hours a day?
mack cummy (1 day ago)
I fix my own car anyway.
mack cummy (1 day ago)
Can't a person just sell the vehicle and pay off the loan if they need another one before it's over?
ivandb11 (1 day ago)
Yes and no. Usually what happens is that the car will be worth less than what is owed so even if the person sells it, they will still own money on their loan and be liable for that money. Dealers will then roll this negative equity that over into the loan of the new car
mack cummy (1 day ago)
Why are a lot of the salesmen foreigners?
Benito Samia (1 day ago)
this girl with the hyundai... SMH... flipped and on a Korean car?!
Benito Samia (1 day ago)
"the feel of the wheel, gets the deal"
Mike Rizzo (1 day ago)
you pay loans twice a month in canada?
DJ Rez (1 day ago)
Jenny has a thick body :)
Dag Koj (1 day ago)
Just file bankruptcy and it will be wipe out, in 7 years it will be clear up and you will be good again. That's what Trump had been doing for ever.
George Austers (2 days ago)
Just pay cash for your cars and NEVER have a car payment.... People earning $30k a year think they can afford a $30-40k car when they should be paying no more than $5-10k for a used car
SirXavior (2 days ago)
Yes and no. What the average Canadian has to realize is were in a different world now. You can't trust everyone...they may not appear as they seem. There will always be people trying to take advantage of you. But the average Canadian would like to assume everyone is polite and trusting. Again were in a different world now.
jashandeep singh (2 days ago)
This youtube channel taught a lot to me and changed my life
archiei40x (2 days ago)
Well, I try to pay off my cars in 3yr or less. I am by no means rich but I purchase things without moving out of my comfort zone. I wish more people know about these things such as some of my less educated friends who gets clubbed like little dwarfs by the dealership.
Jeff Melgar (2 days ago)
I have 50,000 dollars in debt. Now let’s throw a baby in the mix. Like why ? Pffff
ChicknNugts (2 days ago)
What's up with these filming locations?
Dennis Oulton (2 days ago)
Haha we are out here signing multi year loans on cell phones
Dennis Oulton (2 days ago)
That teacher is a genius driving new luxury cars every week and getting paid for it all the while not buying a car himself
David Kaser (2 days ago)
These cars will not last 7 years !
b ttles (3 days ago)
Why are all the dealers Indians?
Bryan Tyler (3 days ago)
It’s not the dealerships fault that she doesn’t understand math.
John W (3 days ago)
there's no warranty or consumer right?
Rigo Hinojosa (3 days ago)
That poor girl, I can’t imagine the level of financial ignorance she had when she bought a NEW CAR while working as a cashier..
YitDatBia (3 days ago)
So ...what the hell happened to Shauntel!?!? Did they help her with the illegal dealership paperwork?
Steve Pratt (4 days ago)
In the USA Shawntells car would have been labeled a "lemon". If you got a lawyer and won your case the manufacturer would be forced to buy back the car at full price.
CRIMSON HAWK (4 days ago)
Its amazing all the people in the comment section are so smart. Must all be millionaires eh?
Johnny YK (1 day ago)
No just have half a brain cell in their head
Trav (4 days ago)
900 used car salesman disliked the video
hartsickdisciple (4 days ago)
How was her new Hyundai not under factory warranty? How did she let them screw her like that? That's insane.
Felix Mitchell (4 days ago)
Did she get out of her loan? Come on
Felix Mitchell (4 days ago)
I love i wish we would do this in American Please hurry Elizabeth Warren
melikab (4 days ago)
Does hyundai not come with warranty its so garbage? And at what point do you ask yourself, if the cars garbage and im getting treated poorly and being left out in the cold, do i really want to do business with these people again😕
Jonathan Bolger (4 days ago)
Wow, dunno of this is just a US thing or whatever, but Huyundai in the part of the world I'm in have a 7 year warranty.
River Song (4 days ago)
Broke people staying broke I went to buy a car at a dealership and I told this lady I had 10k and nothing more. She was trying to sell me a car for 12K. I sad, no unless you can bring it down to 10K. This woman then has the audacity to tell me “ do you have a credit card you could put the last 2k on?” 😂😂😂 I know she’s just doing her job but omg rofl, people actually fall for that?
Rex Lint (5 days ago)
Who in the hell would pay $30,336 for a Hyundai ???? that's insane.
DerHalbeEuro (1 day ago)
I came from a migrant family but i was grown in Germany and i know many Germans, including friends who are willing to pay 40 - 50.000€ for a Audi, Benz or BMW SUV. They say that the quality is it worth. Mostly couples where both are working or people who earn good money but for me that`s just dumb. I think it's a question of the mentality if you already are born in wealth, has a house, clothes, food, a safe job... i guess the annual holiday trip in a foreign country or a new car every 4-5 years is the only motivation to get up every morning...
Bob Rob (5 days ago)
Bi-Weekly? WTF?
Woodstock (6 days ago)
Common sense; the banks do nothing free
Shannon Wolff (8 days ago)
I want to thank this young woman for coming forward at the risk of some embarrassment I am sure, to tell others the mistake and problems she has had. It is so nice to see her try and help others avoid the pitfalls that she fell into. Thank you so much.
KevinProNOW (8 days ago)
I just pay cash whenever I buy a new car! So the negotiations are never about payment just the bottom line...the price of the car! I usually walk out at least twice if things are NOT going my way.
Goofy Gabs (11 days ago)
13:37 You're damn right "Yikes" lmaooo
Rajeev Jasti (11 days ago)
Lol ... bi-weekly price * 2* 84 - the actual car price. That's what any normal person would do, people have become so dumb that we have to put up a youtube video and teach them every single thing!!!
Rebecca Cole (11 days ago)
Why would she think she can afford a brand new car with a cashier, likely hourly, position? I'm now in a salary position and I still think buying a new car wouldn't be reasonable. Live within your means. You either can or can't afford it. There is no in between, if there is an in between then you need to get your finances sorted out before even thinking about buying a new car. The moment you drive that car off the lot, it's depreciated. Think about what you're buying and if you can buy that car used and if the cost of maintenance would still be cheaper than buying a brand new car. I think people have developed an askew view of their own finances. Sure they have insurance, but there a things your insurance won't cover. Many people are living paycheck to paycheck. If you are one of those people, then a new car is not for you.
G00GLE IS WATCHING (12 days ago)
Jenny is looking for her first big purchase...a new car...she's looking for a cheap commuter...she works for us... HOW LITTLE DID YOU PAY THAT SHE CANT AFFORD A HOUSE AND DECENT CAR? WITH ALL THE TAX MONEY CBC GETS FROM THE PEOPLE SHE COULD BE DRIVING A PORSCHE...NO WAIT THAT'S ONLY FOR EXECUTIVES.
Mohamed El-Gazzar (12 days ago)
God bless Canada. God bless CBC News.
ford mustang (12 days ago)
Do you think she should consider bankruptcy? I know that's a last last resort but that's what my friends dad did. He couldn't afford his new ram because he traded cars early like this girl did.
Tyrone Anderson (13 days ago)
Doesn't new cars come with a warranty? ten year/100.000 mile warranty. she said the car broke within a few months of owning it and she brought it new, so it should have been fixed with the warranty unless I'm missing something here.
Yummy Kid (13 days ago)
Does she not have a parent or sibling or friends to discuss prior buying her first car? Did she get help from the government after the dealership broke the ethical code? Wish the end result was given. People need to think before buying anything. Always have a plan B.
Derron Gee (14 days ago)
she is brave for publicly admitting her poor decision on buying this car and going into 50k in debit for 8 years. I hope they can find something to help her out, most people just suffer in silence and end up getting their car repo'd or worse. You'd be surprised how many people buy cars that are way outside their means. I work in the military and I can't tell you how many times I've heard these young kids buying a car/truck for over 40k and end up paying over 600-700 a month and there's little i can do to help them. we need to do better at educating people on better financial management, we should start in school if not already and parents should take the time to teach their children or seek someone who can teach it better. Anytime you go to the dealership, always, always negotiate the price and not the payment. If you do the research before stepping into a dealership you will be better prepared.
Rush_Freak (15 days ago)
The amount of victim blaming and brand favouritism in the comments is hilarious and sad at the same time. "If you can't afford it, just don't have a life" Car dealerships aren't obligated to give you deals that leave them without profit, but they *should* be obligated to give you options and proper education about your investment. "Hyundai" is no less "good" than "Toyota" or "Ford". Brands are just abstractions designed to relegate popular myths. Education about individual models and vehicle platforms on a MODEL YEAR and TRIM LEVEL basis, along with maintainence history are the only thing you need pay *any* attention to. Cars are just a collection of parts. Preventative maintainence and some actual care about your vehicle will help it last longer than any "bulletproof engine" or "reliable transmission" stories ever will. Every vehicle can be a lemon. Be prepared and have a plan B. If something does break, ask questions, don't perpetuate blame towards a hood emblem.
prissybell16 (15 days ago)
My parents gave me a 01 Honda But I did the dumbest thing at 20 and wanted to buy a newer car so I signed myself up for a 6.5 year loan. I had no idea I would be paying for this car this long. Thankfully all the issues I've had with the car were covered under recalls otherwise my car probably would've gotten recalled. I pay my car off finally in July 2019.
Death Reaper235 (15 days ago)
Nice nice.
Ryan Hathorn (15 days ago)
Why on Earth is she having a baby if she has $50,000 in debt over the next 4 years?? SMH
Muhammad Ali Shah (16 days ago)
Buy a used car it half the price
vick wang (17 days ago)
Let’s go look at Tesla
M. (18 days ago)
Finance advice: don't buy and invest in a car or any single item for that matter that will take up to 50% of your annual income in any way. The minute you step into a vehicle you, the owner and driver, are destroying its value and will never be earned back again. Another thing is a bunch of dealerships sell your car in retail price(duh) so have that in mind the car typically is worth less by the thousands.
Dave Danker (18 days ago)
What a waste of time this video is. Thank you captain obvious for letting me know that if I am completely clueless I will get ripped off. This will happen everywhere, not just at a car dealership.
Google User (18 days ago)
ALL new cars are pure junk so you WILL be ripped off no matter what.
Aman Singh (18 days ago)
Generation after generation people buy car, house, etc, and surprisingly they still don't know how to buy it in the right way. That being said, I know people who bought 3 to 5 cars in their lifetime and still their kids don't know how to buy the car, same goes for house, mortgage, loan and any other thing that you buy multiple times in your lifetime. Even the most educated universities graduates don't know these things and are living in debt. Information is everywhere these days, just need to put in the effort to look it up. To make these decision in the right way, it is important, not to rush into anything, and take your time to understand completely what you are getting into.
kevin klangenberger (18 days ago)
Hyundai sorry...but still where was the warranty or give her a new vehicle
Emma Jones (7 days ago)
kevin klangenberger she got scammed, Hyundai has the best warranty (at least in America) 10y/100,000 miles.
kevin klangenberger (18 days ago)
OK i've seen this a few times. But I always wonder in Shantels case if she had a new car that started breaking down in the first 3 months..where there hell is the warranty? I buy chevy trucks new but always have a few glitches witch are all covered under warranty no question asked..5 years power train 3 years bumper to bumper..can't believe KIA wouldn't give her warranty work
Alan (19 days ago)
This video explained negative equity better than my accounting lecturer
Geert Snatersen (19 days ago)
car loan: max 5 years is "good advice"? Call me Dutch, but why not save for such a purchase, or... if you can't afford it, just don't get it?!?
DOHC 106 (19 days ago)
I go through the credit unions because they will only finance a certain amount and generally give better rates. if you must finance a car at least try to buy something with high reliability not just a price point. let's say toyota and Honda vs Nissan. Hyundai, kia, and Nissan push heavy on sales yet they are extremely overpriced and have no resale value.
Jaramie Manson (20 days ago)
I want a tiny car with good gas milage, that's all.
olli ma (19 days ago)
Škoada fabia
Infovest (20 days ago)
In other words, cant afford to buy it outright... screw it.
westmost13 (20 days ago)
The Car you buy for $5500.00:https://trinidadshopper.com/t-bird-1977-great-condition-located-in-pueblo-colorado/
Shikhar Shah (21 days ago)
This is pathetic. This is just allowing consumers to be fools and blaming businesses for being enterprising.
Evan Beniek (21 days ago)
Y’all should talk about student loans
Right Slitherin (21 days ago)
They're almost all Indian wtf canada
jeff ghant (21 days ago)
13:37- #MeToo alert!!!
Bondy (22 days ago)
You mean customers can't multiply two numbers together to get a total cost?
Jay Johnson (22 days ago)
Jenny is hot
Mista Wano (24 days ago)
That beat in the background at 9:10 sound exactly like Bed Rock lol
ganjasmoke21 (24 days ago)
People that make a living off of screwing people, why and how does this industry get away with this?!?
ganjasmoke21 (24 days ago)
Basically the only people that should be at the dealership are people that have a ton of money..
ganjasmoke21 (24 days ago)
How to buy a car without getting ripped off... don’t go to the stealership..
Tijjad Abtu (25 days ago)
Taqiyya people using Taqiyya tactic = BIG Taqiyya profit. This is how they gonna drain the the west to paved for the ultimate goal of eventual takeover. As they’re doing it they as well preach to not criticize what they do otherwise they gonna accuse you of racism
Cymus (25 days ago)
At 20 minutes - the dealership commited loan fraud. The consumer should be let out of the loan and the dealership fined
Doug SwampRat (26 days ago)
Of course car salesman aren't going to tell the whole truth, they're like journalists. You only hear the narative they want you to hear.
Mauricio (26 days ago)
Hyundai? reliable? lmao
vman78vk (27 days ago)
Why buy another hyundai then ??? get something else, another brand.
Joey Goldberg (27 days ago)
Does Canada have lemon law?
Jonnn21 (27 days ago)
When are you going to do these Marketplaces in the USA?
Shadow Fall (27 days ago)
13:33 "We could work on that... just joking" o.O awkward....
MarcellusTheGreen (27 days ago)
The only way you can get a car without being ripped off is to receive one, brand new and pre-inspected, for free.
Tyler Christopher (28 days ago)
A lot of Judgemental people on here. Lord forbid you be end up in this women's shoes. We all know where we've been...we all think we know where we going, but time will ultimately tell how you get there.
Canafa (28 days ago)
and that's why you never buy new: why pay 30,000 for that expensive car when you can get the same car from five years ago for less than half the price?
Michael Nguyen (29 days ago)
Was this filmed in India?
chippers chippers (29 days ago)
Window tint is $400 ? Everthing to do with buying and maintening a car is a total rip-off. You are also a traveling ATM for all levels of government to rip you off.
Iam Sam (29 days ago)
I would never take a loan longer than the car warranty period.
Erwin Maes (27 days ago)
i would never take a loan on a car .
Erwin Maes (27 days ago)
who buys a new car as there first car !! you always wreck your first car... #AndDon'tBuyAHyundai
Jordan Whyte (28 days ago)
i can vouch for this
Chung Lee (30 days ago)
I bet you that ethical salesman earn alot more than those other fraudsters. selling is important but selling while building a relationship that will result in more sales and referrals is priceless.
Shahzeboy 1 (30 days ago)
Honestly, there really is no excuse to overpaying on a new car! the internet is a thing that could give you all sorts of info and what to look out for but few people utilize such a tool. You can also ask family and friends yet few people use that tool. It's not always the dealer's fault, you have to use common sense before you buy a $17,000 car with money owing on your last car and with a baby on the way and you do not have the means to pay it off since you don't make enough.
Shea Miller (30 days ago)
If you think this is bad, you should see how bad the financing part is with the banks and how the dealership increases your interest rate and keeps the difference as profit.

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