Paying in cash?
#2
The Deal he would receive is no interest. I don't think a dealer really cares how you pay. They will get their money anyway, whether from you or a lender. I will put 10K+ down and finance for 3 years. This will help my credit for future purchase. At what interest rates are currently, it really isn't much money above the price of the car.
#3
Well, you save the interest on a loan but I doubt you get a better deal on the car. The dealer likes to finance cars because he makes money on the financing (if it goes through him).
The Boss Hog
The Boss Hog
#4
Do you enjoy 5.9% interest? I don't. As far as the deal, the price of the car X-plan does not change. Figure out the interest cost on 28K for 60 or 72 months $826 per year for life of loan. $4,130 for 5yr and $4,956 for 6yr.
Now of course with luck one could invest that kind of cash and make all kinds of $$$$$, or loose part or all. I like knowing my things are payed for and not worry, then just move on to saving for the next one.
Now of course with luck one could invest that kind of cash and make all kinds of $$$$$, or loose part or all. I like knowing my things are payed for and not worry, then just move on to saving for the next one.
#6
Originally posted by Badsnke98@November 19, 2004, 7:20 PM
Do you enjoy 5.9% interest? I don't. As far as the deal, the price of the car X-plan does not change. Figure out the interest cost on 28K for 60 or 72 months $826 per year for life of loan. $4,130 for 5yr and $4,956 for 6yr.
Now of course with luck one could invest that kind of cash and make all kinds of $$$$$, or loose part or all. I like knowing my things are payed for and not worry, then just move on to saving for the next one.
Do you enjoy 5.9% interest? I don't. As far as the deal, the price of the car X-plan does not change. Figure out the interest cost on 28K for 60 or 72 months $826 per year for life of loan. $4,130 for 5yr and $4,956 for 6yr.
Now of course with luck one could invest that kind of cash and make all kinds of $$$$$, or loose part or all. I like knowing my things are payed for and not worry, then just move on to saving for the next one.
Once you have paid for a car infull it's way easy to pay yourself what the lone would have been then you are not paying for money.
#7
Dealers would rather have you do a loan as they get a kick back from banks and FMC but as far as I know. Not from credit unions. There is no special deal for people paying cash to dealers. Your only savings are the interest. Was there Did that numerious times. Paid full sticker on 05 GT
#8
I'm paying cash.....less the paltry trade-in on fiancee's truck. I like the feeling of (1) Not paying loan interest... (2) Not having a lender holding and having their name on my title...(3) Being able to decide how much insurance coverage I want to carry, and not having a creditor dictate my coverage (full coverage)....'Nuff said
#11
I'm paying for the car in cold hard cash ( no financing whatsoever) .. However, at first, I NEVER tell the salesman that, I tell him I am financing.. This way, it makes it SO much easier to haggle on a lower price since he is thinking he will also make money from the bank on financing..
When he goes to the manager with my offer of a lowered price, the first thing the manager asks him is if I am financing ( i know this, I used to work at a dealer) , the only way the manager would agree to my lowered price is if I financed .. Then - I ask for the price in writing conditional I sign the contract within 48 hours...
Then ! Later, I say - "you know what, I spoke with my significant other, and we will buy it outright, here's the check" .. LOL !
I'm Brilliant ! Works every time ! B)
.
When he goes to the manager with my offer of a lowered price, the first thing the manager asks him is if I am financing ( i know this, I used to work at a dealer) , the only way the manager would agree to my lowered price is if I financed .. Then - I ask for the price in writing conditional I sign the contract within 48 hours...
Then ! Later, I say - "you know what, I spoke with my significant other, and we will buy it outright, here's the check" .. LOL !
I'm Brilliant ! Works every time ! B)
.
#13
Originally posted by Domainer@December 26, 2004, 11:58 PM
I'm paying for the car in cold hard cash ( no financing whatsoever) .. However, at first, I NEVER tell the salesman that, I tell him I am financing.. This way, it makes it SO much easier to haggle on a lower price since he is thinking he will also make money from the bank on financing..
I'm paying for the car in cold hard cash ( no financing whatsoever) .. However, at first, I NEVER tell the salesman that, I tell him I am financing.. This way, it makes it SO much easier to haggle on a lower price since he is thinking he will also make money from the bank on financing..
Every deal is a cash deal technically. Either the customer or the bank cuts the check. I guess if a salesperson gets paid on 'the back' which is not usually the way it goes they would care. Only time I ever worry about financing is if they are doing something to comprimise my deal.
#14
To pay cash IMO is not a very good financial decision
There are a number of investments including "no load" mutual funds that are earning in the 20-30 percentile range. I would certainly invest that kind of money and take the loan at 6%.
If you want some examples of good funds I can pm you.
There are a number of investments including "no load" mutual funds that are earning in the 20-30 percentile range. I would certainly invest that kind of money and take the loan at 6%.
If you want some examples of good funds I can pm you.
#16
I think cash and no trade gets the best deal. That way everyone at the dealer knows it is a done deal right now, move on to the next deal. Also I think the dealer has a different attitude towards someone that can pay cash VS financing with a trade that is upside down (owe more than it is worth).
Financing and trades take extra time and adds risk to the deal.
Before I could pay cash, I would go to a local bank and get secured for a loan and go to the dealer with a cash deal. The dealer did not have to know the cash was coming from the bank until title work is being done.
Financing and trades take extra time and adds risk to the deal.
Before I could pay cash, I would go to a local bank and get secured for a loan and go to the dealer with a cash deal. The dealer did not have to know the cash was coming from the bank until title work is being done.
#17
paying dealer cash except for about 5-7k on a short term loan (24-36 months) due to daughter getting married this spring also. I told her first priority is car she gets whatever money is left over for the wedding.
took out home equity line at prime that way i'm deducting interest. B)
took out home equity line at prime that way i'm deducting interest. B)
#18
when i bought my truck02 screw i got it for 2.9 through ford credit and i pay them by weekly and i will have it paid for in little over 4 years i wish i could paid cash but it wasnt possible paying by weekly payment will get you head in a hurry
#19
Originally posted by ponyboy66@December 27, 2004, 3:05 AM
To pay cash IMO is not a very good financial decision
There are a number of investments including "no load" mutual funds that are earning in the 20-30 percentile range. I would certainly invest that kind of money and take the loan at 6%.
If you want some examples of good funds I can pm you.
To pay cash IMO is not a very good financial decision
There are a number of investments including "no load" mutual funds that are earning in the 20-30 percentile range. I would certainly invest that kind of money and take the loan at 6%.
If you want some examples of good funds I can pm you.
I remember a mere 3 years ago, I would go to the bank with $10k USD in cash, and get back almost $16,000 canadian .. Now, with the exchange rate, I would get back just a little over $11,000 with the falling US dollar ( which is falling at record levels and will fall even farther) .. Soon, the US dollar will be less valuable than the canadian dollar..
The Euro used to be less valuable than the US dollar.. Not anymore, the euro is worth 25% more than the US dollar.. A domain name just sold on the internet for $45,000 euro's at sedo.com , the exchange rate put it at $60,000 USD according to dnjournal.com..
Anyone who would invest in the US market while Bush is in office has to be either misinformed, or a person who likes to give away his/her money ..
I will stay with my investments on the internet and electronic real estate ( monetizing traffic on the internet) .. Much better investment and it's turn-key (I make well over 10,000+% on my various investments every month
.
#20
Ah, I see Bush bashing is still alive and well in canada....... Maybe you need to beat up on Granholm, she is ruining the State of Michigan everyday her sorry pimple faced butt is in orfice..... Keep to the topic.