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I've always read on the internet that you should never say to the dealer that you are paying cash for the vehicle, supposedly to get a better deal, they believe that if you claim you are paying cash, they will raise the price of the vehicle, how true is this? If they raise the price, I simply gtfo and they lose my business, simple as that.
Seems like a big waste of time imo in the end, they are smarter than you, they have more experience than you, and they know more about the car industry than you no matter how many articles you've read, how many internet forums you've consulted and how knowledgeable and expert you believe yourself to be.
You are in their territory, you playing games, claiming you don't know yet how you will pay? believe me, they know you are bull****ing and will pay cash, they know lol you think they don't know all these tricks and advice you read on the interwebz on HOW TO BEAT THE DEALER? lol
big ass waste of time imo just go, ask for the real price, and then say you are paying cash, if they claim that if you pay cash, the final cost will be higher, then simply leave, they just lost thousands of dealers for being greedy bastards trying to make a few more
I've only purchased 2 new cars from the dealership and both times they didn't care if I paid cash or financed. There was absolutely no discount or extra cost to doing either.
That's not really possible in America unless we're talking some run-down trailer in the middle of nowhere. If you know of somewhere where it's actually possible to buy a good property cash, please do tell. I imagine all the "good" cheap properties are snatched up pretty quickly by savvy investor/real estate types.
I'm thinking unless something like a huge inheritance happens or winning the lottery, paying cash for a house is no easy task..... at least here in America.
Well, that's not at all true. Many "regular folks" here in California who have lived in their homes for many years and have paid off their mortgage often pay all cash for their retirement homes, whether the houses are in retirement communities or not.
I will have that option; however, I may take out a loan, it all depends.
To me you get a better deal if you pay cash. The last time I bought a car, I said I have X cash and that is what I'm paying. There was a lot less BS I think that the first time I bought a car...which I financed and got taken advantage of on the price. Sales people love easy money. With cash there may be less overhead for them, and they don't have to worry about whether or not financing will mess up the sale. If you have cash, say it and then say you want a discount. IMHO of course.
If I am maxing out my Roth and putting it in mutual funds, have a good emergency fund, AND have some cash earning 0.2%, why borrow at anything above 0.2%??????
You seem pretty savy. So, let me ask you (or anyone else, if they have an opinion) this:
Would you consider a prepaid lease?
(Let's assume that the allowed mileage is more than enough and you want to drive a new car for a few years)
By walking into a car dealer and announcing you're paying cash, you might as well have walked in with a giant placard emblazoned with "I'm not financially savvy and/or can't do basic math. Abuse me"
Other than the dubious psychological benefits of paying cash, it rarely makes sense. If you have a poor credit score which disqualifies you from getting a good loan rate, paying cash might make sense. Otherwise, there are very, very few compelling logical reasons to pay cash. This thread reminds me of the multiple threads on this forum where someone declares that leasing never makes sense. It's simple math people - and not even hard math, at that.
If I am maxing out my Roth and putting it in mutual funds, have a good emergency fund, AND have some cash earning 0.2%, why borrow at anything above 0.2%??????
And there's the problem. Why would anyone have any significant amount of cash (enough to buy a car) tied up in something that's only earning 0.2%? Are you being sarcastic?
You seem pretty savy. So, let me ask you (or anyone else, if they have an opinion) this:
Would you consider a prepaid lease?
(Let's assume that the allowed mileage is more than enough and you want to drive a new car for a few years)
I was just wondering last night whether there was an option to do that. I have never leased a car before, but if there's a cost-effective, short term, prepaid lease, especially one where I could charge all or most of it to a credit card, I would love that.
car purchases are such politics and a game of insecurity.
the worst buyers are those who feel they need to game it to screw over the dealership.
i get a general idea of price for a car with those options from the internet and present it to the sales rep, we do 1 negotiation, and thas it. this car will be with u for the next 5-10 years, so really.. WHAT. DOES. $300. REALLY. MEAN.
The only time you could say that's sort of true is if there's a factory rebate that requires factory financing. The price of the car didn't really change though. You just either get or don't get the factory rebate is all.
Factory rebates are open to all consumers wishing to follow the guidelines of rebates. It has NOTHING to do with whether you finance thru them or not. Its illegal to have the condition of "must finance" in order to receive rebate. its called "baiting" and is not allowed.
Finance "incentives" are a separate category!
CASH is and often will be THE KING for transactions.
The CONSUMER is ultimately in control of the transaction, NOT the business.
Until the offer is met on MY terms, finance or payment is not discussed. Only the price and the treats
Then out comes the check book or certified check and all moves forward.
Most are correct- There are soo many kickbacks given to the dealership and the sales rep if they encourage financing. Never let them control your wallet.
I was just wondering last night whether there was an option to do that. I have never leased a car before, but if there's a cost-effective, short term, prepaid lease, especially one where I could charge all or most of it to a credit card, I would love that.
I don't know about the credit card, but there is a prepaid lease available. And the few sources I have seen say that there is some savings to be had by doing it that way.
In theory (I have never priced a prepaid lease) you pay up front for the portion of the car that you will be using.
Just to make some figures up - If you leased a $40K vehicle for three years and it was going to be worth $31K at the end of the lease, then you pay the $9K up front. Turn it in when you are done.
That's pretty much what you do with a standard lease, except it is financed and they get to add on all sorts of extras, like they do with mortgages.
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