Auto Cheat Sheet car buying guide

Enjoy car buying?

Enjoy car buying?

Enjoy car buying?

An automotive insider will help.

Obtain car buying tips from an automotive industry insider who climbed from the bottom to the top, enjoyed semi-retirement at the age of 37, and wants to reveal the secrets of car buying to you.

Learn faster

Gain a complete picture of the car buying process targeted on opportunities and challenges, only an industry insider can deliver on the spot.

Master the art of the car deal

Choose better

Improve your realized car value by measuring what contributes the most for your money using tips delivered by a semi-retired car dealership owner.

Learn how to leverage your trade-in

Find Hidden Pricing!

New Car Clearance Prices

Many vehicles are priced well “Below Dealer Invoice!”

Who’s this car buying insider?

Carlton Wolf excelled in the automotive industry holding roles in many areas, but most importantly he was a car salesman known as “The Wolf” because of his techniques, tactics, and success at converting shoppers into customers while achieving extremely high levels of profit.

Carlton Wolf is the author and founder of Auto Cheat Sheet.

Proud father of 4 wild children, better known as “The Wolfpack”, and an adoring husband to the alpha member of the pack.

Contributing member towards multiple community activities in a leadership capacity representing individual / shared family interests.

  • 2020

    Strategic adviser

    Owner, partner, mentor, and consultant for multiple businesses across various vertical industries, while delivering on promise to wife of semi-retirement.

  • 2006

    Dealership owner

    Nissan car dealership owner, achieved a 473% increase in net profit over previous owners in first year, and sold dealership to enjoy semi-retirement.

  • 2003

    General manager

    Lead team in a dealership turn-around, which delivered a level of net profit improvement (% protected by a NDA) that resulted in opportunity to become a dealership owner.

  • 2002

    General sales manager

    Provided annual sales forecasts by estimating operating and gross profits as well as new and used sales department expenses, total vehicle sales.  Overall managed the day-to-day operations of the sales and service department.

  • 2001

    New car sales manager

    Supervised and motivated up to 50 salespeople by promoting and encouraging strategies to exceed dealer sales goals.  Responsible for schedules, training, hiring, interviewing, advertising and setting goals.

  • 2000

    Used car sales manager

    Oversee staff selling used cars.  Responsible for closing deals, attaining sales objectives, buying inventory, solving customer complaints, recruiting and training employees, and preparing sales reports.

  • 1999

    Finance manager

    Coordinate all of the financing for customers all while maintaining a higher than average backend gross and product penetration percentage.

  • 1998

    Internet manager

    Drive qualified traffic to the dealership. Handle leads promptly, take and make calls, prepare price quotes all while maintaining high profit margins.

  • 1997

    Closer

    Assisting up to 25 salespeople who need assistance closing a customer.  Extensive experience and training in the art of negotiation and manipulation.

  • 1996

    Used car salesman

    Used car salesman at a high volume, high pressure dealership.  Averaged 15 to 20 used cars a month.

  • 1995

    New car salesman

    Sold an average of about 20 cars a month in both one-price dealerships and traditional dealerships with above average profit margins.

  • 1994

    Greeter

    While in the USCG began selling cars part time.  Once honorably discharged, became a greeter a a dealership full time too officially begin my car sales career.

  • 1993

    US Coast Guard

    Proudly served in the United States Coast Guard for eight years.  Performed search and rescue and drug interdiction operations in Alaska and the Bahamas.

What car buying tips can an insider deliver?

Most online car buying guides you find on the internet are written by individuals that have done research on the industry and have no experience in the field.  The Auto Cheat Sheet provides you with real-life modern car buying tips from a dealership professional with over 20 years within the retail car industry.

$2,500+

Average deal’s profit

New cars are a high-ticket item, new car sales account for over half of the total gross sales at the dealer. Gross profits hover around $2500 per car, but from a net-profit standpoint, new car sales generally lose money.  However, additional products and dealer strategy makes up the rest of the average.

September

Best car buying time

The months of September to December are the best time of year to buy a car. Dealers have sales quotas, which typically break down into yearly, quarterly, and monthly sales goals.  The largest rebates are always available at this time of year which helps the dealer move the old models to make room for the new.

87%

Legality of dealer scams

Not all dealers and their staff are unethical.  However, you never know who you will be dealing with when you walk through the door.  Car dealer scams cost uneducated buyers thousands of dollars a year.  The problem with most car-buying scams is once you become a victim…it’s too late.

Where can you save when buying a new car?

If you could look behind the curtains of the dealership, you would discover that each and every operation you are passing by is set up as a profit center—all of them competing for the money in your wallet. So who typically wins this war of dollars, and how does the dealer actually make any money? The answers might surprise you.

  • Research new cars
  • Configure money down
  • Buy below invoice
  • Dodge buying mistakes
  • Questions to ask yourself
  • Explore online quotes
  • Obtain factory rebates
  • Understand quote sites
  • View all new car buying tips

How should you buy a used car?

Buying a used car instead of a new car has its advantages. The most beneficial, someone has already taken the huge initial depreciation loss on the vehicle when it was purchased new.

Does your trade-in hold opportunity?

I will always recommend selling your trade-in on your own over trading it in at a dealership.  I understand some people must trade because they don’t have the time or patience.

  • Appraisal process

    The used car appraisal process may vary slightly at each dealership, but the principles of the trade-in process is basically the same.

    How the trade-in process works

  • Junk car

    Trading in an old junk at a car dealership will usually only net you couple hundred dollars if you don’t control perception of your seasoned vehicle.

    How to sell an old junk car online

  • Estimate your trade-in’s value
  • Trading vs. selling on your own
  • Should you clean your car before trading?
  • View all car trade-in tips
What's your trade worth?

Trade Value Estimator

Know the value of your car before trading it in.

How do car buying scams cost you money?

They always start with something that takes your focus from the matter-at-hand using: misdirection, gimmicks, too-good-to-be-true scenarios, and sometimes even tight-short-booty-pictures of someone looking much too far for that fan belt.

  • Spot delivery

    The spot delivery scam takes shape when the dealer knows that the buyer will not be approved at the rates that dealer signed them too.

    Spot delivery scam explained

  • Trade-in payoff

    What happens when the dealer forgets to pay off your trade within the time frame allowable?  Now you have two vehicles you’re responsible for.

    Forgot to pay off your trade scam

  • Deferred down payment

    When you purchase a car and don’t have quite enough money for a down payment, be very cautious about the dealer’s offer of a deferred down payment.

    Deferred down payment scam

  • Forced extended warranty

    Forced warranty or hidden warranty occurs when a customer is told that he is not eligible for a loan until he pays for extended warranty.

    Forced extended warranty scam

  • Guaranteed credit approval

    This is used in a dealers advertising to drive high volumes of bad to poor credit customers to a dealership in the hopes of being approved to finance a vehicle.

    Guaranteed credit approval scam

  • Excessive dealer fees

    The dealer prep fee lets a dealer pick up a quick profit from consumers in the range of anywhere from $500 – $2500.

    Dealer prep fee scam

  • Credit doesn’t qualify
  • Payment packing
  • Straw purchase
  • Addendum sticker
  • Cosigner loans
  • FLEET manager scam
  • Trade-in value scam
  • Dealer added options
  • Purchase-lease switch
  • All credit accepted dealer scam
  • Bait and switch
  • 0% interest available
  • Key mailer
  • Slasher sale
  • Certified pre-owned vehicle scam
  • Rebuilt title
  • View all common car dealer scams
Get Pre-approved

Get Pre-approved First

Safe and secure, know your interest rate before buying a car.

Where else can you save money while buying a car?

The sale of the vehicle itself is not the only area a dealer makes money when selling you a car.  Backend products such as financing, insurance and warranties are all high profit opportunities a dealership will take advantage of.

Finance

The best self-defense at the dealership is having a pre-approved car loan in place before you go shopping. Here’s why, and how to protect yourself.

  • Low interest car loan quotes online
  • Bad credit auto loan guide
  • How to refinance a car online
  • Auto refinance myths exposed
  • All about credit reports and scores
  • How to read your credit report
  • How to establish credit history from scratch
  • View all auto finance advice

Warranty

Extended auto warranties can be great, but know the right questions to ask before buying one. Learn how to use free warranty quotes to your advantage.

  • Find free online auto warranty quotes online
  • Questions to ask before buying a warranty
  • How to select an extended auto warranty
  • Extended warranty terms and definitions
  • View all extended auto warranty topics

Insurance

Make sure to call your car insurance agent before you head to the dealership, so you have all the information you need before you buy a vehicle.

  • Where to find free car insurance quotes online
  • Online auto insurance company reviews
  • Common insurance myths exposed
  • Car insurance discounts and secrets
  • What is credit life & disability insurance
  • All about GAP insurance
  • View all car insurance tips

Raise the hood!

Has your car buying experience broken down on the side of the road? Send your questions, comments, or ideas to improve our site. But, please understand our response rate is driven by the demand, complexity, and “The Insider’s” availability (retirement is sweetness).

  • Located somewhere in the great state of Oklahoma.

  • Live chat is unavailable, support is out selling a car.

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