I am looking into buying a new car within the next couple of weeks. I was wondering if you are able to get a better "deal" on the purchase price if you say that you will finance the car, or if you will get a better deal by just paying cash. Thanks for your input.
2007-07-03 06:35:16 · 5 answers · asked by tenschamp2 1 in Cars & Transportation ➔ Buying & Selling
In response to not making up the extra money that I may save due to the interest rate, what I intend to do is if I do go with financing because I may get a better purchase price, I will just pay off the loan the next day.
2007-07-03 07:21:44 · update #1
I suggest you approach this from a different perspective. Financing or cash will yield the same price-if you do your homework. You seem determined to buy for cash, and that's a good idea.
However, if you are buying new and spending $30,000.00 consider a "0%" interest loan. You make monthly payments but your $30k is in the bank drawing some interest for you, as much as $1200.00 the first year, $900. the second, $600. the third, $300. the fourth, and a $100. the lat year.
The key to a money saving vehicle purchase is gathering the vehicle invoice figures and making your deal your way. I assure you that you can determine an invoice amount on the internet, email your offer to local dealers, and get your best price without ever leaving home.
Compare model and equipment on your offers to be certain you are being quoted on a like vehicle. Also, ALWAYS buy from your local dealer (assuming a good reputation in both sales and service) whenever possible. You will be able to build a relationship over the next few years which will allow you a simple deal the next time you buy, and is a very powerful tool in getting assistance on warranty work and a loaner car when needed.
Another plus, the money stays in your community (profit and taxes). If your local dealer is higher in price give them a chance to meet or beat the offer, and even a few hundred dollars higher spread out over 3-4 years is an insignifcant amount.
The key to all purchases is simple, gather the information you need before you buy!
besttoyou, Chuck
30 years/thousands of deals
www.thebestdealofyourlife.com
2007-07-10 04:39:32 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In terms of purchase price, it is sometimes easier to get the dealership to lower the price when financing because they make money on both the purchase and the financing. However the difference is nowhere near what you would be paying in interest if you financed it. So if you can afford it, cash is king.
2007-07-03 07:06:50 · answer #2 · answered by Jay P 7 · 0⤊ 0⤋
I did contact car dealer and they don't care about cash or financing. But, I used Car direct.com, Sam Club and Costco price club to get a car code before making a deal. I saved about 2000 to 3000 dollars.I urge you to check on go ogle and see more car deal on line before you deal with a car dealer. I myself did with www. Car direct.com as well as CostCo club. Good luck and I wish you have your dream car soon.
2007-07-09 07:46:32 · answer #3 · answered by ryladie99 6 · 0⤊ 0⤋
Definetaly, if you pay cash, you will get a better deal. When you talk to the dealer or the sales person , lower the price with them as much you can and then tell them if you pay cash if they can lower it more, they usualy do. good luck!
2007-07-10 06:18:01 · answer #4 · answered by M.T.H. 2 · 0⤊ 1⤋
Cash is always better. It is cheaper and you don't have to worry about interest, and when you will finish paying it off.
2007-07-03 06:52:20 · answer #5 · answered by Anonymous · 0⤊ 0⤋