Domainer

Yes, I did keep to the topic .. The previous poster specifically said I would get more money investing in the US economy instead of paying cash for a car.. I gave my reasons why that is not such a good idea.. Much better investments out there for people, and hence, being able to pay for a Mustang in cash..


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steal101

No deal here. I'm paying in full also but, I think ford makes more if you don't.

steal101

I did get 5% over invoice but, not because of cash.

GsStang

I did the home equity line too. You get to claim the interest on your taxes, and your baby is yours!

Domainer

Ford doesn't make more, but the dealer does ( unless of course you use Ford financing and not local financing through the financing department at the dealer) .

I worked at a dealer in my early 20's, and let me say the dealership most of the time made more money on financing than the sale of the car.. I was very good friends with the financing guy at the dealership and it works like this ..

#1. A bank gives a quote to the dealership's financing officer via fax or phone call- after he faxes the bank the prospective buyers' credit report from his office computer..

#2. Let's say the bank issues a percentage of 4% financing .. The dealership financing guy has this number as a bottomline.. Then, he tries to pursuade the car buyer that the best he can do is 5.9% .. Hence, a 1.9% kickback the dealership makes from the bank if the car buyer agree..

#3. The car buyer will accept or ask for a better rate. If the finance guy feels he will lose the sale if he doesn't go down, he may quote him at 5.5% or 4.9% still making a 1%+ profit .. The finance officer will just tell the prospective buyer that he will try another bank to get a better rate or speak to the bank again to see what he can do to get the number down ( amazing , many buyers would just go with the first quote since they are so excited to get the car) ..

make no mistake, in most instances, the dealership makes more on the financing than the sale itself .. if the buyer knows the invoice price of the car and will only pay $500 over invoice, financing is the only other way the dealership can make money. That and/or BS option prices ( like car mats for $150 etc) LOL .


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LordBritish

My financing is at 4.9% which aint too bad.

I wasn't even close to having enough money saved to buy in cash so it was my only option - the other is to get on the Oprah show.

So I financed.

It was either that or drive my 94 GT until it's [F]ound [O]n [R]oad [D]ead

steal101

In Vegas there is a lot of BIG DOGS that think cash and who you know will get anything. It's kind of Funny out here in the wild west.

05 Gray GT

I'm paying 400 over invoice and cash.


I also agree with Domainer the $ is on the way down. Don't let the powers that be tell you what is going on look and see for yourself.A number of years ago the powers that be took it on themselves to bring the $ down in value to make it more in line with the rest of the world.This point was made by the world bank on more that one occasion. Don't forget the GOP may say they have family values but what the put forward are corporate values.And like the old rush song says "Show me don't tell me".
And now

steal101

It was either that or drive my 94 GT until it's [F]ound [O]n [R]oad [D]ead

LOL

Domainer

It's mindboggling how so many people got brainwashed by that ..Question - Who gave Republicans the right to define morality (values) and issues? Is poverty not a moral issue? Equal rights? War? Environmental degradation? Why is morality only about sex? Or would discussion about the morality of these other issues raise uncomfortable facts for the GOP? What hypocrisy.

Who really cares what two consentual adults want to do in a bedroom?, honestly, there are so many moral pressing issues th republican party has been so guilty of ( and I have always supported republican ideas before the latest election, I am by no means a leftist liberal) ..

sorry went off topic, if the mods want to erase this post go right ahead.. I felt it needed to be said.


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Galaxie

Lets leave politcal opinions off the boards, every topic that brings it up seems to self-destruct.

Since there are many differing political opinions here, lets just put them aside and keep things on topic with Mustangs, our common ground

Karpro

You mention this like it is a bad thing. Obviously I work at a dealership so I see things from the other side, but if we get the money at say 3.9% and sell it to you for 4.9% we make 1%, is this wrong? If the best you could do through your own sources was 5.75%, didn't we save you money? I'm not saying a dealership should ruin someone financially to make more money but dealerships aren't not for profit orginizations. If the dealer can make some money while saving you some money isn't that the classic win/win situation?

HUGLE

Who really cares what two consentual adults want to do in a bedroom?, honestly, there are so many moral pressing issues th republican party has been so guilty of ( and I have always supported republican ideas before the latest election, I am by no means a leftist liberal) ..




[/b][/quote]
Well, mr. non liberal (yeah, right), apparently there were more PEOPLE who thought it WAS important enough to get W in for another FOUR MORE YEARS... Keep your opinons of the US north of our borders. Sorry Galaxie, rip on me if you feel the need. Back to topic.

whtmule

My 04 Cadillac I paid cash and got $3000 off the sticker price. My 05 Mustang is a cash deal also and got 1500 off MSRP.

Domainer

You mention this like it is a bad thing. Obviously I work at a dealership so I see things from the other side, but if we get the money at say 3.9% and sell it to you for 4.9% we make 1%, is this wrong? If the best you could do through your own sources was 5.75%, didn't we save you money? I'm not saying a dealership should ruin someone financially to make more money but dealerships aren't not for profit orginizations. If the dealer can make some money while saving you some money isn't that the classic win/win situation? [/b][/quote]

Karpro. I never said it was a bad thing for the dealership. Please provide a quote from me stating that .. The whole premise of this thread wasn't about what benefits the dealerships, but more curtailed to the benefit of the "CONSUMER". Which in my case, no bank or dealership will take money out of my pocket since I am paying cash. Also you need to read what I mentioned in another page on how to approach a dealership properly from the consumers' perspective ( not the dealership perspective which you seem more interested in).

And hugle, re-read the first sentence in my last post before this one. LOL . Oh and, after the election more americans contacted the canadian immigration offices to move to Canada than ever before in History( by a huge margin) . Plenty of links on the net about this.


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Karpro

Unless I'm reading it wrong, your whole three step process on how dealership financing works makes it sound as if the dealership making a profit on the loan portion of the transaction is a bad thing for the consumer. My point is, if the dealer gets someone a better rate than they can get on their own, but makes money doing it, isn't that good for everyone? As far as your post on the previous page, your "proper" approach seems to be go in, flat out lie, buy a car. That doesn't seem to me like the right way to do business from either side of the table. If I read the meaning of your statements wrong, I apologize. I'm not trying turn turn this into some kind of flame war.

As far as me being more interested in the dealer perspective, in all of my posts I have done nothing but try to offer people advice on what I believe to be a "proper" way to do business, both from a dealers side and a consumers side. I try to offer perspective on why somethings happen during the process and whether they are good or bad for either side.

I'm not saying doon't pay cash if you can, but realistically very few people can. If you are going to finance don't be afraid to see what your dealer can offer.

Sorry for being so long winded.

eggstang

Well the bottom line is that anyone who can buy one outright should obviously do so, unless the dealer is offering 0% on the model you are buying.

Credit is a disease, not a tool.

Btw, how did this thread turn into a discussion about the GOP?

ponyboy66

LOL !!!! I'm sorry ponyboy, but the way the US dollar has been falling like a ton of bricks under Bush, it would be very unwise to invest in that market ..

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

.[/b][/quote]
I said nothing about investing in Bush. Don't be sorry unless you really want to.
I state the mere facts.
I have been investing for 22 years.
From a pure financial standpoint paying cash is not a wise decision.
There are mutual funds paying 40% which several invest in international monetary systems. Several between 20 and 30 %.
Do the math. If you pay 25,000 for a car, take a loan for that amount and pay the 6%. Invest the 25,000. A mutual fund earning 15% lets say, which over a 5 year loan is worth 38,465.60 minus 3,999.20 you'd pay in interest on the loan. That is 9465.80 in pure profit. I'd say that is wise fiscal policy. If you pay cash. You pay nothing and you earn nothing. I guess that's still my opinion, but it's also fact.

idobson

Well How about that Hockey strike eh?

Since we were taling about world issues instead of cars today

back to the topic........

I am paying in cash also, the dealer still doesn't know that though as I never told him, I just don't think that it helps get me the best deal possible.

Where are these 30% mutual funds anyway, Had a friend of mine invest $130K in a company called Erin Financlal, (not sure on the spelling) about 10 years ago, boy was he pi$$ed when trading was halted on their stock. I think he may have got back about 10K

Domainer

I said nothing about investing in Bush. Don't be sorry unless you really want to.
I state the mere facts.
I have been investing for 22 years.
From a pure financial standpoint paying cash is not a wise decision.
There are mutual funds paying 40% which several invest in international monetary systems. Several between 20 and 30 %.
Do the math. If you pay 25,000 for a car, take a loan for that amount and pay the 6%. Invest the 25,000. A mutual fund earning 15% lets say, which over a 5 year loan is worth 38,465.60 minus 3,999.20 you'd pay in interest on the loan. That is 9465.80 in pure profit. I'd say that is wise fiscal policy. If you pay cash. You pay nothing and you earn nothing. I guess that's still my opinion, but it's also fact. [/b][/quote]


I guess you missed the fact that I make well over 10,000% back ( and not yearly, but MONTHLY returns) on my online investments.. Who needs a shaky US market when someone has this kind of return month after month after month for the last 6+ years ?? :scratch: I own some of the highest type-in traffic domain names for the biggest products/industries on the planet, and simply redirect them for monetizing the traffic .. Basically, I do nothing but renew these names every year for 10 bucks and make thousands of dollars per month on each of them by earning affiliate commissions from fortune 500 companies by simply redirecting them ( see Linkshare.com) . I'm sorry to burst your bubble, but what I have made in a single year from a high traffic domain name, no stock on the planet in the history of the stock market has outperformed it on a year-to-year basis .. How's that for "facts" ??

If you want to educate yourself on that, go to http://erealestate.com/virtual/king.htm , then go here http://erealestate.com/virtual/history.htm

Now, let's put this mutual fund thing to bed.. It's not worth my time really.


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