2006-11-04 01:51:48 · 8 answers · asked by Balaji s 1 in Cars & Transportation ➔ Buying & Selling
by paying full price in cash for car purchase , how much reduction will I be getting on average?
2006-11-04 01:56:20 · update #1
I bought a new car in cash this past January. They didn't offer me any further price reduction (more than what I'd already talked them down to before discussing payment method). I got a pretty good deal, though.
I did ask if there was a discount, but remember that dealers make more money on car loans than they do on cars themselves. So, good luck with that. Just remember how much you are saving yourself in finance charges and that should more than justify the move to pay cash if you can afford to do so. Don't overextend yourself if you can't.
I am not sure what blessed_thang is talking about in reference to $9999 payments to avoid having to file a federal form. Perhaps this is the case if you are actually planning on going to the dealer with a suitcase full of money. I don't have an entourage of bodyguards, so I just wrote a check like 99% of people do. No hassle and no form to fill out.
2006-11-04 02:34:08 · answer #1 · answered by Brent D 3 · 0⤊ 0⤋
You will need to pay in $9,999 installments. Any cash transaction of $10k requires a federal form to be filed, both at the dealer and at the bank.
You are always better off getting quotes from a variety of sellers based on the final cash price. They really jockey the figures on trades.
2006-11-04 10:02:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Most cases, If you pay full cash u need not get any reduction.
YES, there is one way, if u hv already spoken to the car dealer that if you pay da full cash & not on installment. u shud deserve some discount as a part customer loyalty, see that he agrees upon this term. as ususally most customers dont pay cash right away. but u prefer too...it means u hv full trust n confidence in the car dealer and about the car u purchase....
2006-11-04 10:02:23 · answer #3 · answered by gracious_78 3 · 0⤊ 0⤋
Dealers lose money when you pay cash. Don't expect any discount. It won't happen. They make money on financing and have an easier time selling warranties when you finance. Blessed_t is wrong you can't make $9999 installment payments. IRS says any transaction over $10000 with cash gets reported period no matter how it is broken up. Dealer will do prison time doing what Blessed_t is saying.
2006-11-04 10:22:47 · answer #4 · answered by typhon1991 3 · 1⤊ 0⤋
Depending on the finance charge, paying cash is the difference in paying $25,000 for a new car as opposed to a monthly payment, a finance charge, and a total payment of about $35,000.
2006-11-04 10:00:08 · answer #5 · answered by DJ 5 · 0⤊ 0⤋
Good luck getting a reduction. Car dealers don't want to sell you a car. they want to sell you a car LOAN.
2006-11-04 09:59:44 · answer #6 · answered by Kacky 7 · 0⤊ 0⤋
If you have the cash, of course. Why pay all those interests?
2006-11-04 09:55:16 · answer #7 · answered by Brendi 3 · 0⤊ 0⤋
Whats the question???
2006-11-04 09:53:41 · answer #8 · answered by niccilicci 5 · 0⤊ 0⤋