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re: Why do people think “paying cash” gets them deals?
Posted on 12/1/24 at 8:39 am to Jack Daniel
Posted on 12/1/24 at 8:39 am to Jack Daniel
I prefer non-financed. It’s all cash. Just depends on whose it is.
Time historically kills a deal. But in a world where every degenerate non-contributing zero with a pulse can get a loan it has lost some of its pull.
Time historically kills a deal. But in a world where every degenerate non-contributing zero with a pulse can get a loan it has lost some of its pull.
1
Posted on 12/1/24 at 8:43 am to LRB1967
quote:
Paying cash at some gas stations will get you a discount of 5 cents per gallon. It is not much but adds up over time.
Get the right credit card and the cash back perks on gas is enough to offset the 5-10 cent cash discount without having to deal with going inside to prepay.
Posted on 12/1/24 at 8:45 am to Jack Daniel
It can in some instances. A business that can pocket cash and not report it saves them a lot on taxes so they like selling some stuff on side. Primarily service businesses.
Posted on 12/1/24 at 8:46 am to LRB1967
quote:
Paying cash at some gas stations will get you a discount of 5 cents per gallon. It is not much but adds up over time.
I refuse to go to a station that does this
Posted on 12/1/24 at 8:46 am to Jack Daniel
You quite obviously do not have much cash on hand do you
Posted on 12/1/24 at 8:49 am to Jack Daniel
quote:
Why do people think “paying cash” gets them deals?
Because it does
When I hire contractors, I always get cash discounts because it means that they don't have to float materials or labor costs.
Posted on 12/1/24 at 8:51 am to Tiger Prawn
quote:
Get the right credit card and the cash back perks on gas is enough to offset the 5-10 cent cash discount without having to deal with going inside to prepay.
Came to say this
Posted on 12/1/24 at 8:51 am to Koach K
I sell manufactured homes and get this question all the time. I always respond “sure”.
However we are getting a wire for the full amount from the lender so there’s no real benefit to us receiving cash vs financing other than avoiding the hassle of getting people qualified, which is no easy task in this neck of the woods.
If we did our own financing it would likely be different.
But I’ll work up a cash discount if it helps keep the customer at my dealership vs the one down the road where they’ll also offer a cash “discount “.
One last consideration-I’ll offer that cash discount if we can do the deal right now. Not take my offer and shop it around. Especially if I’m trying to squeeze a little bit more at the end of the month.
However we are getting a wire for the full amount from the lender so there’s no real benefit to us receiving cash vs financing other than avoiding the hassle of getting people qualified, which is no easy task in this neck of the woods.
If we did our own financing it would likely be different.
But I’ll work up a cash discount if it helps keep the customer at my dealership vs the one down the road where they’ll also offer a cash “discount “.
One last consideration-I’ll offer that cash discount if we can do the deal right now. Not take my offer and shop it around. Especially if I’m trying to squeeze a little bit more at the end of the month.
Posted on 12/1/24 at 8:55 am to Jack Daniel
I pay cash for alot of stuff. There are plenty places that won't charge tax, if you simply ask. There is a home entertainment business in Elmwood that doesn't charge tax if you pay with paper. All depends who you know and deal with.
This post was edited on 12/1/24 at 8:58 am
Posted on 12/1/24 at 8:56 am to Jack Daniel
I have used multiple contractors that gave me at least 20% discount paying with cash. Usually it is the most effective if you are paying an individual to do work on the side directly instead of having them do work through their company.
Painting and plumbing seems to be easiest to find for doing this.
I also got 10% off on my golf clubs when I paid cash.
Painting and plumbing seems to be easiest to find for doing this.
I also got 10% off on my golf clubs when I paid cash.
Posted on 12/1/24 at 8:56 am to Smeg
quote:
Holy shite you're stupid. How much extra are you paying than the total price for the car if you finance it for 100 years?
I don’t think he was speaking about how much pay. He said the seller would not make more if you financed and that is partially correct. If you purchase a car from a dealer and finance it, the additional interest you pay goes to the finance company and not the dealer.
So the buyer pays a lot more to finance but the seller gets paid the same selling price from the finance company.
There of course sometimes kickbacks and dealer shenanigans.
Posted on 12/1/24 at 8:59 am to Jack Daniel
There are many retail places now with a cash price and a credit price. I’ve seen it at a ton of gas stations around north LA, and a couple restaurants I frequent have a cash price and a credit/debit card price that is 1 or 2 % higher.
Posted on 12/1/24 at 9:02 am to Jack Daniel
quote:
Why do people think “paying cash” gets them deals?
Zero interest, which is always a deal upon itself.
The bankers hate it when you pay zero interest, though.
This post was edited on 12/1/24 at 9:08 am
Posted on 12/1/24 at 9:03 am to FieldEngineer
I did 3 units recently for 30,000 cash.
Posted on 12/1/24 at 9:04 am to Jack Daniel
LOL I love these "Let's shite on Boomers when I don't know what the frick I'm talking about" threads.
Can be two things: helps seller avoid detection from your daddy, the government...
Also back in the day if you offered straight cash up front on big purchases to avoid any additional service fees, interest, etc
Can be two things: helps seller avoid detection from your daddy, the government...
Also back in the day if you offered straight cash up front on big purchases to avoid any additional service fees, interest, etc
Posted on 12/1/24 at 9:05 am to Jack Daniel
I’ll immediately send refunds to all the people who have given me discounts for cash payment for their goods and services! I think we’ve reimagined economics here today, lads!
Posted on 12/1/24 at 9:08 am to Jack Daniel
The cash discount for larger purchases (homes, automobiles, etc) is due to the seller not have to worry about qualifying the buyer and avoid any potential snags with financing.
Posted on 12/1/24 at 9:10 am to Darth_Vader
quote:
So, by paying cash instead of using cress it, you will pay an additional $6,613.70 when all is said and done. That’s what dealerships want you to finance your auto, specifically through their financing.
Which is why he said dealerships prefer you get a loan. I’m not sure what you are trying to prove?
I will add two note - we got a few grand off for financing with Chevy. Paid it off the next, saved 2k month.
At lot of places are adding a %3-4 credit card fee (cost paid to CC companies) so you’re spending more for the convenience of using a CC
Posted on 12/1/24 at 9:12 am to KLSU
quote:
Not on automobiles. Dealers would much rather you finance than pay in cash.
And many will discount more, if financing. Take the loan, interest rate doesn't matter, and pay off in one or two payments, if you have the cash. The only people needing to pay with cash are those with shitty credit.
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