Any dealers out there? I want to buy a new truck this weekend, CASH. I want to be able to save on interest in the long run as well as score a great price. Do the dealers knock much off? How low do they go off sticker on a regular basis. A couple thou?
2006-07-14 14:00:05 · 7 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Tons.
Get the book "Don't Get Taken Every Time" by Remar Sutton from the library.
Don't have time? Get the invoice price online from Consumer Reports or any other web site.
Paying cash on a 2006 model you should get thousands off sticker or tens of thousands, depending on the sticker price.
2006-07-14 14:03:15 · answer #1 · answered by Sir J 7 · 1⤊ 0⤋
You have NO leverage when paying cash for a new vehicle.
I recommend this to you . . . Tell them you want to finance the truck, negotiating the price down as low as you can, based on their assumption that you are going to finance the vehicle, either through their company or through your own bank or lender.
DON"T TELL THEM YOU ARE GOING TO GO PAY IT OFF RIGHT AWAY, or even in two months time!
Get a low-ball price with a reasonable down payment, say 10%.
After all the papers are signed and you have posession of the truck, make one or two monthly payments, (this establishes a great record on your credit report), then go to the lender and pay off the truck. All this time, the money you still have in the bank is gaining interest, offsetting the small amount of interest you paid for the two months.
You are using your money wisely this way and still getting the truck you want.
I've done this on every car I buy from a dealer, and it works every time!
There are two HUGE advantages to this.
They will drop the price a lot more if they think that they will get some interest out of the deal. That is where most dealers make their money. If they think you are going to pay cash, they won't go as low, because there will be no long term interest profit in it for them.
Also, your money stays in the bank longer, making interest.
One more thing . . . if you can find a nearly new lease-return truck similar to the one you want, you will save THOUSANDS of dollars on the depreciation. They usually have extremely low mileage because of the lease generated mileage penalty imposed on the guy who leased it as a new vehicle, usually under 15,000 miles!
A brand new vehicle will depreciate as much as $5,000 the minute you drive it off the lot!
Dealers LOVE to sell lease returns, but they can be hard to find.
Good luck!
2006-07-14 21:31:27 · answer #2 · answered by brucejulson@sbcglobal.net 1 · 0⤊ 0⤋
T C is right. Dealers make more off of you when you finance through them. They get a kick-back from the bank, warranty companies, and their factory. String along the dealer, and let him think you are going to finance it. You need to look up the vehicle on Kelly's Blue Book (www.kbb.com) before going so that you know the price range to expect. It should be fairly accurate for your zip code. Even after doing all of that, I would suggest telling them you are going to continue shopping around for a better price at other dealerships. One last thing, you will usually get a better deal near the end of the month, and the end of the week, rather than this weekend, since they usually have monthly sales goals.
2006-07-14 21:08:36 · answer #3 · answered by dhills23 3 · 0⤊ 0⤋
why would you pay cash when Ford will let you take out a 60 mo. loan without any interest at all ?
honestly I've been selling cars for 23 years and I don't care if you pay cash or finance
it doesn't matter to me if the money comes from my bank...your bank...or from under your mattress...
as long as you pay for the vehicle..it doesn't matter....
every sale is a 'cash' sale as far as that's concerned
oh yea ...how does the bank kick back the dealer on a zero interest loan ?
and as far as buying or not buying an extended warranty......
Ford will through in 5y / 60k mi warranty with roadside assistance
and they'll give you $1100 gas card to help you at the fuel pump these days
what more could you possibly ask for ?
oh did I mention many F150's can use E85 fuel?
you know the fuel that's MADE IN AMERICA
I will be out on the lot looking for you at 9:00 am tomorrow morning.....
I hope it doesn't rain
2006-07-14 22:27:44 · answer #4 · answered by Vicky 7 · 0⤊ 1⤋
Dealers prefer that you finance, as they get a kickback from the lender.
see www.carbuyingtips.com and read about the top ten dealer (scams) or ripoffs. The dealers absolutely HATE this website.
2006-07-14 21:12:15 · answer #5 · answered by Trump 2020 7 · 0⤊ 0⤋
Well it sure felt great to walk into my dealership and write a check for the full amount of my NEW car....I don't have to be weighed down with car notes,thank you very much. Good Luck to you,don't forget to get warranty too. Have a great day!
2006-07-14 21:05:35 · answer #6 · answered by Dimples 3 · 0⤊ 0⤋
make them think you are going to finance, have them work out the numbers, then tell them you are paying cash. It'll get you a great deal.
2006-07-14 21:03:31 · answer #7 · answered by T C 2 · 1⤊ 0⤋