Advantage 100% Cash Carpayment
#1
I'm in for buying a new Mustang GT.
I'm wondering what my advantage will be if I'm going to pay the whole amount in cash (or check) at once. Is there any extra discount and/or things I can negotiate about with my dealer?
For the dealers who want to do me an offer......I'm living in Jacksonville - Florida..........and here is what I'm looking for:
Mustang '06 GT Premium
- Exterior Color: Tungsten Grey Clearcoat Metallic
- Interior Color: Medium Parchment
- Engine: 4.6 3V V8 Engine
- Transmission: TR3650 5-Speed Manual Transmission
- Wheels: 18" Premium Aluminum Wheels
- Special Packages: Interior Upgrade Package
- Options/Upgrades: Wheel Locking Kits, Active Anti-Theft System (incl. Perimeter Inclination Intrusion Alarms), Anti-Lock Brakes w/ Traction Control, Front Seat Side-Mounted Air Bags, 6-Way Power Adjustable Driver Seat w/2-Way Adjustable Head Restraint Power Lumbar, Charcoal Aluminum Instrument Panel Applique with Ribbed Pattern
I'm wondering what my advantage will be if I'm going to pay the whole amount in cash (or check) at once. Is there any extra discount and/or things I can negotiate about with my dealer?
For the dealers who want to do me an offer......I'm living in Jacksonville - Florida..........and here is what I'm looking for:
Mustang '06 GT Premium
- Exterior Color: Tungsten Grey Clearcoat Metallic
- Interior Color: Medium Parchment
- Engine: 4.6 3V V8 Engine
- Transmission: TR3650 5-Speed Manual Transmission
- Wheels: 18" Premium Aluminum Wheels
- Special Packages: Interior Upgrade Package
- Options/Upgrades: Wheel Locking Kits, Active Anti-Theft System (incl. Perimeter Inclination Intrusion Alarms), Anti-Lock Brakes w/ Traction Control, Front Seat Side-Mounted Air Bags, 6-Way Power Adjustable Driver Seat w/2-Way Adjustable Head Restraint Power Lumbar, Charcoal Aluminum Instrument Panel Applique with Ribbed Pattern
#2
Whether a dealer gets cash from you or a check form the bank, it is all the same to him. The car has to be paid for peior to delivery and it does not make a difference if the money comes from you or froma finance institution.
As for ordering a car, i will order a GT for $1000 under MSRP for you and you can either pick it up here or i can find a dealer to do a courtesy delivery down there.
As for ordering a car, i will order a GT for $1000 under MSRP for you and you can either pick it up here or i can find a dealer to do a courtesy delivery down there.
#3
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If anything, a cash deal is a negative to a dealer. The banks pay the dealers a commision for setting up new loans. The commision is based on the amount financed as well as how much markup in the rate they charge. The commision can be anything from $100 to more than a $1,000, so most dealers prefer you don't pay cash.
#4
Tasca Super Boss 429 Member
<div class='quotetop'>QUOTE(Karpro @ February 22, 2006, 7:06 PM) Quoted post</div><div class='quotemain'>
If anything, a cash deal is a negative to a dealer. The banks pay the dealers a commision for setting up new loans. The commision is based on the amount financed as well as how much markup in the rate they charge. The commision can be anything from $100 to more than a $1,000, so most dealers prefer you don't pay cash.
[/b][/quote]
Don't dissappoint your finance manager . Finance as much as possible!! [img]style_emoticons/<#EMO_DIR#>/biggrinjester.gif[/img]
If anything, a cash deal is a negative to a dealer. The banks pay the dealers a commision for setting up new loans. The commision is based on the amount financed as well as how much markup in the rate they charge. The commision can be anything from $100 to more than a $1,000, so most dealers prefer you don't pay cash.
[/b][/quote]
Don't dissappoint your finance manager . Finance as much as possible!! [img]style_emoticons/<#EMO_DIR#>/biggrinjester.gif[/img]
#5
Thanks for the responses so far. They are not the responses I had hoped for (hoped to get a better discount). But that's life and life s**** sometimes.
But here is some more detail of my situation. Actually I'm from Holland. But since 4 years I'm living and working in the US on a temporary work visa. My parents teached me never to buy stuff on credit, accept a house. And if I really wanted something I needed to save the money for it. And so I did for the Mustang. As soon as Ford showed the Mustang '05 I started saving money for it. And now my saving is coming close to the money I need to buy one.
Another problem I have is that, as a non US citizen, I don't have a credit history. Even credit card companies won't give me a credit card because of that.
Reading the response of KARPRO I'm wondering if it will benefit me just to get a loan for the shortest period of time (a year or even less). So the dealer can get the commission and give me a bigger discount. But I'm afraid that without any credit history I probably need to pay the highest interest rate there is. So that any benefit of the discount will be gone.
Please advice.
But here is some more detail of my situation. Actually I'm from Holland. But since 4 years I'm living and working in the US on a temporary work visa. My parents teached me never to buy stuff on credit, accept a house. And if I really wanted something I needed to save the money for it. And so I did for the Mustang. As soon as Ford showed the Mustang '05 I started saving money for it. And now my saving is coming close to the money I need to buy one.
Another problem I have is that, as a non US citizen, I don't have a credit history. Even credit card companies won't give me a credit card because of that.
Reading the response of KARPRO I'm wondering if it will benefit me just to get a loan for the shortest period of time (a year or even less). So the dealer can get the commission and give me a bigger discount. But I'm afraid that without any credit history I probably need to pay the highest interest rate there is. So that any benefit of the discount will be gone.
Please advice.
#6
Tasca Super Boss 429 Member
My parents went with a loan when the bought their Lexus. And paid it off almost immediately. Something to consider.
With the car loan, if you put a sizeable chunk down you shouldn't have a huge issue getting a loan. Then, before interest can compound, etc. pay it off.
With the car loan, if you put a sizeable chunk down you shouldn't have a huge issue getting a loan. Then, before interest can compound, etc. pay it off.
#8
<div class='quotetop'>QUOTE(JeffreyDJ @ February 23, 2006, 10:10 AM) Quoted post</div><div class='quotemain'>
My parents went with a loan when the bought their Lexus. And paid it off almost immediately. Something to consider.
With the car loan, if you put a sizeable chunk down you shouldn't have a huge issue getting a loan. Then, before interest can compound, etc. pay it off.
[/b][/quote]
But don't you get penalized when you are paying off your loan to quick?
My parents went with a loan when the bought their Lexus. And paid it off almost immediately. Something to consider.
With the car loan, if you put a sizeable chunk down you shouldn't have a huge issue getting a loan. Then, before interest can compound, etc. pay it off.
[/b][/quote]
But don't you get penalized when you are paying off your loan to quick?
#10
Gerritt,
The best thing to do is shop around for the best price you can and pay in cash, especailly if you have the money in hand and credit history can be an issue. You should be able to find xplan or better. I am not sure how it is in the united states, but in Canada you get a $1000 cash rebate if you are attending or recently graduated a college or university. I managed to work a price below xplan with that strategy
The best thing to do is shop around for the best price you can and pay in cash, especailly if you have the money in hand and credit history can be an issue. You should be able to find xplan or better. I am not sure how it is in the united states, but in Canada you get a $1000 cash rebate if you are attending or recently graduated a college or university. I managed to work a price below xplan with that strategy
#11
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<div class='quotetop'>QUOTE(GJvdB @ February 23, 2006, 9:37 AM) Quoted post</div><div class='quotemain'>
Another problem I have is that, as a non US citizen, I don't have a credit history. Even credit card companies won't give me a credit card because of that.
[/b][/quote]
Hand in hand with your purchase, take advantage of this opportunity to establish a credit rating.
With a substanial downpayment, you should be able to get approved somewhere.
Make loan payments for a year to establish a history, then pay the loan off.
It is great to be able to pay cash for everything, but sometime a good credit rating can come in handy.
As Steve (Galaxie) mentioned, there may be programs available that could benefit you.
The American QuarterHorse Association comes to mind.
X-Plan Friends and Neighbours if you know a Ford Employee may be available.
In the marketplace, the Mustang is very competatively priced, so even if you had to pay M.S.R.P., the Mustang is still good value.
Certainly try to get your best deal, but don't get hung up on the numbers.
Once you start driving and appreciating the Mustang GT, what you paid will become less significant.
Another problem I have is that, as a non US citizen, I don't have a credit history. Even credit card companies won't give me a credit card because of that.
[/b][/quote]
Hand in hand with your purchase, take advantage of this opportunity to establish a credit rating.
With a substanial downpayment, you should be able to get approved somewhere.
Make loan payments for a year to establish a history, then pay the loan off.
It is great to be able to pay cash for everything, but sometime a good credit rating can come in handy.
As Steve (Galaxie) mentioned, there may be programs available that could benefit you.
The American QuarterHorse Association comes to mind.
X-Plan Friends and Neighbours if you know a Ford Employee may be available.
In the marketplace, the Mustang is very competatively priced, so even if you had to pay M.S.R.P., the Mustang is still good value.
Certainly try to get your best deal, but don't get hung up on the numbers.
Once you start driving and appreciating the Mustang GT, what you paid will become less significant.
#13
Hey!
Looking to get me a 06 GT Premium ordered within one month I hope.
While you are on the topic of some detailed ordering questions in this thread, can anyone of you give me hints on the following:
1. Is there usually any down payment from me required by the dealer when I place my order? Or will I pay my complete sum at delivery (planning on making it 100% with a check)?
2. Could any of you estimate what a '06 GT Coupe Premium, Automatic, Black, IUP, Color accent (red), 18" fan blades would have in delivery time from order to delivery....roughly? I live in Maryland. I get somewhat scared when I see lead times of 4 to 6 months for some people.
Thanks!
/Freddie
Looking to get me a 06 GT Premium ordered within one month I hope.
While you are on the topic of some detailed ordering questions in this thread, can anyone of you give me hints on the following:
1. Is there usually any down payment from me required by the dealer when I place my order? Or will I pay my complete sum at delivery (planning on making it 100% with a check)?
2. Could any of you estimate what a '06 GT Coupe Premium, Automatic, Black, IUP, Color accent (red), 18" fan blades would have in delivery time from order to delivery....roughly? I live in Maryland. I get somewhat scared when I see lead times of 4 to 6 months for some people.
Thanks!
/Freddie
#14
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<div class='quotetop'>QUOTE(lattjolarsson @ March 2, 2006, 8:36 PM) Quoted post</div><div class='quotemain'>
Hey!
Looking to get me a 06 GT Premium ordered within one month I hope.
While you are on the topic of some detailed ordering questions in this thread, can anyone of you give me hints on the following:
1. Is there usually any down payment from me required by the dealer when I place my order? Or will I pay my complete sum at delivery (planning on making it 100% with a check)?
2. Could any of you estimate what a '06 GT Coupe Premium, Automatic, Black, IUP, Color accent (red), 18" fan blades would have in delivery time from order to delivery....roughly? I live in Maryland. I get somewhat scared when I see lead times of 4 to 6 months for some people.
Thanks!
/Freddie
[/b][/quote]
The one thing you must keep in mind is that every dealership is an independent small business, so each has unique processes and policies.
The amount of down payment usually depends on the relationship you may have with the dealership. We would normally ask for a $1,000 deposit, but if there is a history with the customer, we may not request a deposit.
The item that could slow up your order is the 64E Fanblades. Automatic GT orders generally are easier to fulfill than a Manual. Without the Fanblades I would expect a a 6 to 8 week turn-around. Figure on another month when you order the wheels.
Depending on your dealer's allocation, the timing could be longer than above, but that would be a general expectation.
The anticipation will make it seem like an eternity, but once you get your Mustang it won't matter.
You are going to love the car!
Hey!
Looking to get me a 06 GT Premium ordered within one month I hope.
While you are on the topic of some detailed ordering questions in this thread, can anyone of you give me hints on the following:
1. Is there usually any down payment from me required by the dealer when I place my order? Or will I pay my complete sum at delivery (planning on making it 100% with a check)?
2. Could any of you estimate what a '06 GT Coupe Premium, Automatic, Black, IUP, Color accent (red), 18" fan blades would have in delivery time from order to delivery....roughly? I live in Maryland. I get somewhat scared when I see lead times of 4 to 6 months for some people.
Thanks!
/Freddie
[/b][/quote]
The one thing you must keep in mind is that every dealership is an independent small business, so each has unique processes and policies.
The amount of down payment usually depends on the relationship you may have with the dealership. We would normally ask for a $1,000 deposit, but if there is a history with the customer, we may not request a deposit.
The item that could slow up your order is the 64E Fanblades. Automatic GT orders generally are easier to fulfill than a Manual. Without the Fanblades I would expect a a 6 to 8 week turn-around. Figure on another month when you order the wheels.
Depending on your dealer's allocation, the timing could be longer than above, but that would be a general expectation.
The anticipation will make it seem like an eternity, but once you get your Mustang it won't matter.
You are going to love the car!
#16
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Join Date: April 23, 2004
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<div class='quotetop'>QUOTE(lattjolarsson @ March 3, 2006, 5:18 PM) Quoted post</div><div class='quotemain'>
just out of curiosity....any other of the wheels that would come faster? know anything about that?
Thanks!
[/b][/quote]
Both of the 18" wheels 64E or 64W are limited to about 20% of GT orders.
It just means they are a little tougher to get, but certainly not impossible.
Either of the 17" wheels are freely available.
The order would probably come faster with one of the 17" wheels, unless your dealer has 18" wheel allocation.
If the dealer has the wheel allocation then you order with them would not be delayed.
Order what you want. You will probably be keeping your Mustang a long time.
'
just out of curiosity....any other of the wheels that would come faster? know anything about that?
Thanks!
[/b][/quote]
Both of the 18" wheels 64E or 64W are limited to about 20% of GT orders.
It just means they are a little tougher to get, but certainly not impossible.
Either of the 17" wheels are freely available.
The order would probably come faster with one of the 17" wheels, unless your dealer has 18" wheel allocation.
If the dealer has the wheel allocation then you order with them would not be delayed.
Order what you want. You will probably be keeping your Mustang a long time.
'
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