Ramit Sethi explains how to negotiate car purchases, criticizing the common focus on monthly payments and insisting buyers demand the total cost of ownership (full price) from dealers rather than agreeing to a target monthly payment.
Jeep Grand Cherokee. How did you decide if you could afford it? Don't tell me you talked to the car dealer and he talked about monthly payment. Please don't say that we had gone in there knowing that we didn't want to pay over 400amonth. Thomas, I'm going to kill you right now. What have I said on this podcast 10,000 times? When the car dealer says to you how much you want to pay? You look him straight in the eye. You say, tco, motherfucker. I don't talk car payments. Nobody ever talks payments. You talk about total cost of ownership. I want to know the full price. I think we said we didn't want to go over 400amonth.
