2007-01-05 05:47:42 · 12 answers · asked by whats her name 1 in Cars & Transportation ➔ Buying & Selling
Yes....no financing=no interest=less $$$ out of your pocket
2007-01-05 05:50:04 · answer #1 · answered by Shutterbug 3 · 0⤊ 0⤋
If you are truly paying cash for the car, yes. If you borrowed the money from your bank or credit union, you are still paying interest on the money. The price at the dealer should not change unless you are truly shopping around. If you go to several dealers, let them know you are paying cash, and are willing to walk out the door when you don't get the price you want, you can save some. Remember, however, that dealers don't make very much on new cars, so the difference in two dealers may not be very much.
2007-01-05 13:55:06 · answer #2 · answered by J.R. 6 · 0⤊ 0⤋
It should not be that way, and a lot of people think that way. Technically, you will pay less, only because you won't be paying interest on a loan. Dealerships are charged a "Buy Rate" from the bank for your interest rate, and then mark it up to whatever they feel is neccesary. This is not illegal or regulated by the government, like so many things are these days.
A dealership can also charge you whatever they want to for a vehicle as well. A lot of dealerships will tell you that if you pay cash for the purchase you will get a better deal, and charge you just $1.00 below sticker price (MSRP) A deal is a state of mind! How do you determine what a "Deal" is, when buying a new vehicle.
2007-01-05 13:56:58 · answer #3 · answered by Anonymous · 0⤊ 1⤋
sometimes you can get a car for less if financing because the bank will pay the dealers profit in "reserve". those interest rates though are usually high so you'd have to pay it off soon after to reap the benefits.
cash is no big deal anymore, it used to be when dealers didn't register the cars, but in todays world you can't screw the dmv, so cash will not provide any savings.
2007-01-05 16:25:01 · answer #4 · answered by jay 7 · 0⤊ 0⤋
If you mean will they give you a better PRICE if paying cash, NO.
The dealer loses money when you pay cash, so you get the best price if you finance with their lender.
If you mean will the overall cost of buying a car be less with cash, YES. You don't pay any interest.
2007-01-05 14:08:59 · answer #5 · answered by Trump 2020 7 · 1⤊ 1⤋
Yep, with interest (depending on the interest rate you get which depends on your credit rating and income) you could pay twice as much as the "price" of the car, or more!
2007-01-05 13:51:00 · answer #6 · answered by artrickwo 3 · 0⤊ 0⤋
not necessarily. You have to think long term. You would probably get a better deal and a 0 % apr if you put down half of the payment . You can invest the rest in a mutual fund account.
2007-01-05 13:51:12 · answer #7 · answered by bugsy12231977 2 · 0⤊ 2⤋
yes you end up saving at least 1,000 dollers because you dont pay intrest at all its just a matter of having the money to pay it all
2007-01-05 16:23:23 · answer #8 · answered by Sydoginator 2 · 0⤊ 0⤋
more than likely they usually give a pretty good discount when u pay cash
2007-01-05 13:49:51 · answer #9 · answered by woody 5 · 0⤊ 0⤋
Yes. You won't have to pay interest.
2007-01-05 13:49:52 · answer #10 · answered by JACQUELINE T 6 · 0⤊ 0⤋