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Paying cash for a new car
Posted on 8/28/13 at 8:02 am
Posted on 8/28/13 at 8:02 am
From what I've seen quite a few MB posters say they will only pay cash when it comes to purchasing a car. What's the typical amount a dealer will discount for their "cash price" and how and when do you introduce that into the negotiation? Do you get the dealer down as low as possible and then play the "if I pay cash today..." card or will that just piss them off?
4
Posted on 8/28/13 at 8:11 am to sneakytiger
I don't think they're really worried about cash. You'd probably get a better deal if you finance through them (if they have any discounts for doing so) and then pay it off right after.
I've seen incentives for financing through Ford Credit recently. I'd assume that other car companies have similar incentives.
I've seen incentives for financing through Ford Credit recently. I'd assume that other car companies have similar incentives.
Posted on 8/28/13 at 8:13 am to sneakytiger
quote:
quite a few MB posters say they will only pay cash when it comes to purchasing a car
You will also see many saying that with rates so low, always finance.
Posted on 8/28/13 at 8:14 am to sneakytiger
No discount for cash sale, and it will actually decrease your bargaining ability, so keep it a secret as long as you can. The dealership is wanting you to finance the deal, as they make money on that as well, so will sometimes give you a better price on the actuall car if they know they will make it up in financing
Posted on 8/28/13 at 10:22 am to sneakytiger
You get a better deal (at least I did on my 2013 Lexus) if you let them sell you their in-house financing plan.
Just make sure there is no prepayment penalty and then pay it off as soon as the paperwork clears. I estimate it saved me about $400 off the price I would have paid if I told them I was going to pay cash.
Just make sure there is no prepayment penalty and then pay it off as soon as the paperwork clears. I estimate it saved me about $400 off the price I would have paid if I told them I was going to pay cash.
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