What if I had over $80,000 more in cash than the car itself was worth and I told them I wanted to pay for it all with all the money I have, that I want to spend it ALL on a car?
1) What would they think?
2) What would they say?
I would never do this, but I'm just wondering for the fun of it to just get some laughs.
2007-06-12 08:02:07 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
You should NEVER tell a car dealer salesman how much money you want to spend. And, you shouldn't tell him you want to pay cash until you are done negotiating price for whatever car you choose. Otherwise you can be guaranteed you will be ripped off and spend money that you could have kept in your pocket. And if you have an excellent credit rating and they offer you a zero percent loan, then you take that loan and then earn interest on your money in a bank account or whatever.
What would they think? They would think "Oh boy, we got one today."
What would they say? Probably something like
"Ok - let's put you in one of our luxury models; you're gonna love this car. Let's take it for a drive after you look it over."
2007-06-12 08:23:41 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The car will cost you more. The reason being is because the financing company pays them for the loan. Just like doing a mortgage. If you pay cash or dont use them for financing they are losing a large amount of money. The price of the car will go up because they are not making the money on the financing side.
Dont believe me take their financing and get ready to sign the deal for a 50,000 dollar car. Right before you sign it and they have agreed tell them that you are paying cash or have your own financing.
They back out instantly and change the price of the car.
2007-06-12 08:57:08 · answer #2 · answered by financing_loans 6 · 0⤊ 0⤋
1. With all the 0% financing that is available now, it really would not make much difference. You will gain some negotiating power, but it is not like it used to be.
2. They would try to talk you into finacing it, and as I stated above, why wouldn't you? If you can get 0% financing for 5 years, why not finance the car and make payments for a few years while the rest of your money is earning interest for you.
3. Never pay cash for a car unless you are the kind of person that keeps them for 10 years, it just does not make sense to do so. Hope that helps!
2007-06-12 08:13:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you could finally convince them to take you seriously, they would immediately waltz you to the most expensive car they had available and attempt to make the sale.
As far as deals go, car dealerships get cash in one form or another at the time of sale. They don't really care if it comes from you as cash, or if it comes to them from a finance company as a check. Ain't no deals for paying cash, simply because ALL deals with a dealership result in cash for them.
2007-06-12 08:11:15 · answer #4 · answered by acermill 7 · 1⤊ 1⤋
I've paid for a new car with cash. Generally speaking if you have the money legitimately, then you really have nothing to worry about anyway.
2007-06-12 08:10:15 · answer #5 · answered by Anonymous · 0⤊ 0⤋
this would not sound good. there is no regulation requiring you to finance a automobile. It in basic terms must be paid for. they are in a position to declare that they gained't take a private examine, if so grant a cashier's examine fairly. in the event that they insist you should finance the automobile, then ask for the regulation that calls for it. yet realistically, do you desire to purchase a automobile from a shady broker? there are various automobiles accessible, in basic terms pass to a distinctive broker to be secure.
2016-12-12 19:12:48 · answer #6 · answered by Anonymous · 0⤊ 0⤋
They would think and say "A fool and his money are soon parted!" Duhhhhh!
2007-06-12 08:11:26 · answer #7 · answered by robert t 2 · 0⤊ 0⤋