re: Myth about paying cash for cars

Lol there are millions of idiots and liars in this business. Its the same way when you walk into verizon and buy a new phone. But there are genuine people in the business that enjoy working with cusyomers and making a great living doing it.

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Hell, look at CarMax. People will knowingly pay a premium on a used car just so they don't have to deal with the sales process.

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Yep. I mentioned it way earlier in this thread yesterday. We have bought 4 of our last 7 from CarMax. Shortly after moving to Birmingham, like a year or two, we replaced both of our college cars. Drove them both for a long time, like 6-7 years. They were reliable, had gone through some inspections at CarMax, and we financed them cheaply through a credit union.

When it came time to replace those, the first place we went was to CarMax, mainly because within 30 minutes they could give us a cash offer on selling the vehicle to them regardless if we traded in or bought something from them. That just gave me a good idea on what to sell them for. I ended up selling both of them personally, and bought my wife a Highlander from CarMax, and paid cash to a private party for my Jeep with what I made off of selling the two vehicles myself.

We ended up trading the Highlander in for a Van a year later at CarMax. I don't like the pressure. It is unwarranted these days. Give me a price, then we'll look at your financing, and if I know I can do better at the Credit Union I will do that within a few days and bring CarMax a check for what it costs, if not, I will just pay the cheap financing they offered. I think it was like 1%. Yeah I might be paying a small premium but I've never had issues with a used car buying from them. Buying new is never going to be an option for me. Way too much of a depreciation hit in the first couple of years.

This thread is making me fear the process when I buy a used car with cash in a few months

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Just ask a friend to refer you to someone trustworthy

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The car I will be buying is not one that can easily be found at any dealership unfortunately

I also live in a small city so I will probably have to travel to get it as well

I prefer to use someone elses money at a low interest rate, and let mine sit and earn..especially at 0% for 60mnths...

What are you buying?

I know for an absolute fact that you can get a better price if you finance the vehicle to the dealership. If it's a new car there may be factory rebates (not dealer controlled since, ya know, they're just a fricking franchise) attached to financing through the manufacturers lender that could lower or raise the price depending on the outcome. But if we are just talking metal, a used car at a dealership and you offer cash or finance I will lower the price for you to finance rather than write me a check. The reasons are numerous, way more than I feel like typing out but it all comes down to profit, there's just more of it when you finance, and not necessarily from your particular deal either.

Haven't read the thread but that should answer whatever you assholes are arguing about

How much do you guys think the dealer gets for writing the paper?
(new car only)

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How much do you guys think the dealer gets for writing the paper? (new car only)

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Depends, minimum $75-$100 and the sky is the limit from there

I feel like carmax, while obviously successful, is still in the experimental stages of how to basically set up a car dealership conglomerate that is interconnected coast to coast. It's a weird arse way to do business and it's definitely not conducive to developing talent but it's an option