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re: Why do people think “paying cash” gets them deals?
Posted on 12/1/24 at 9:17 am to Jack Daniel
Posted on 12/1/24 at 9:17 am to Jack Daniel
quote:
A car deal for instance, whether the buyer pays cash or financing for 100 years, the seller is still getting the total asking price up front.
Yes, but, they make more money from you off of financing so paying cash saves you in the end. I paid cash for last two cars the dealers were pissed.
0
Posted on 12/1/24 at 9:26 am to Jack Daniel
Cash absolutely gets a deal if you know how...even today Last car deal I got another 6% off the negotiated "rock bottom" dealer price. Money in an envelope to do a deal quick is very motivational for private sellers as well.
Posted on 12/1/24 at 9:32 am to Jack Daniel
quote:
Why do people think “paying cash” gets them deals?
Weird. I could’ve sworn I got. .20/gal discount this morning for paying cash.
Must’ve been in my head though.
Posted on 12/1/24 at 9:35 am to Jack Daniel
Because it does, this isn’t hard to understand
Posted on 12/1/24 at 9:37 am to Jack Daniel
Serious question: what age range are you in?
Posted on 12/1/24 at 9:38 am to Jack Daniel
quote:
A car deal for instance, whether the buyer pays cash or financing for 100 years, the seller is still getting the total asking price up front.
This post was edited on 12/1/24 at 9:39 am
Posted on 12/1/24 at 9:39 am to KLSU
quote:
Not on automobiles. Dealers would much rather you finance than pay in cash.
This is why you never tell a dealer you are paying cash. You always finance then pay it off a month later.
This post was edited on 12/1/24 at 10:14 am
Posted on 12/1/24 at 9:42 am to Jack Daniel
90% of you are not understanding the point of this post, and I feel like you are the guys doing this dumb shite.
The auto industry is a good example of people excessively using this without understanding it (the dealership would much rather you finance through them, cash isn’t the flex you think it is) but another great example is selling something on marketplace and someone tries to lowball you with a “cash” offer. No shite a-hole wtf else are you going to pay me, you think I’m gonna take credit for this sawzall?
Guy building your fence, sure pitch him a cash offer. It has to be used in the right situation or it’s f’king pointless.
The auto industry is a good example of people excessively using this without understanding it (the dealership would much rather you finance through them, cash isn’t the flex you think it is) but another great example is selling something on marketplace and someone tries to lowball you with a “cash” offer. No shite a-hole wtf else are you going to pay me, you think I’m gonna take credit for this sawzall?
Guy building your fence, sure pitch him a cash offer. It has to be used in the right situation or it’s f’king pointless.
This post was edited on 12/1/24 at 9:45 am
Posted on 12/1/24 at 9:45 am to Jack Daniel
Used to a car dealer would give you a deal on the total price if you paid cash but not anymore
Posted on 12/1/24 at 9:52 am to Jack Daniel
You can pay cash, but you never tell them you are until the deal is done
Posted on 12/1/24 at 9:52 am to Jack Daniel
A lot of sketchy guys are hiding from child support and so cannot have banks or a normal paycheck. Only work for cash.
Posted on 12/1/24 at 9:57 am to Jack Daniel
quote:
I see a lot of people, especially boomers, think saying “cash money” or “pay you in cash” gets them some kind of unrealistic discount. Where is this coming from?
A car deal for instance, whether the buyer pays cash or financing for 100 years, the seller is still getting the total asking price up front.
Maybe this works when paying for labor because the guy getting paid can pocket it without taxes
When a vendor offers you a discount for cash I would say it is a better deal. Thre are fees for processing credit purchases. I dont go looking for it but sometimes it comes up.
I most always pay "cash" for vehicles because I am avoiding the 60 month of interest. Some will say invest the money and pay the note but that rarely works out.
But 90% of what the wife and I buy is on the CC and paid off in the no interest period to get the cash back points.
Posted on 12/1/24 at 9:57 am to Jack Daniel
People that say that for cars or boats are generally full of shite. But if it a trade business you bet your arse cash saves you money. I’ve never offered a cash payment to a plumber, HVAC, electrician and not been able to get a significant amt off.
Posted on 12/1/24 at 10:04 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.
Factoring time spending acquiring cash and foregoing the CC points, BEST case scenario you are breaking even buying every single gallon in cash.
Not to mention you have to go into the store every single time. Buy ONE thing you weren't planning to and now you are down vs credit card.
This post was edited on 12/1/24 at 10:05 am
Posted on 12/1/24 at 10:09 am to Jack Daniel
Let’s give a simple example.
Say there is a business like a bowling alley, arcade, or escape room where people are paying for entertainment.
The business owner collects cash or collects via card.
Do you not see how it would be more beneficial to the business owner to be paid in cash on a busy day when they have a ton of customers as opposed to having a recorded card transaction for every customer?
Enough cash and you then can have a “magic money drawer” for certain purchases provided your business isn’t TOO big.
Or so I’ve heard.
Say there is a business like a bowling alley, arcade, or escape room where people are paying for entertainment.
The business owner collects cash or collects via card.
Do you not see how it would be more beneficial to the business owner to be paid in cash on a busy day when they have a ton of customers as opposed to having a recorded card transaction for every customer?
Enough cash and you then can have a “magic money drawer” for certain purchases provided your business isn’t TOO big.
Or so I’ve heard.
This post was edited on 12/1/24 at 10:14 am
Posted on 12/1/24 at 10:14 am to Jack Daniel
My dentist takes off 10% if I pay cash.
My furniture store I use knocks down the price if I pay cash as well.
My furniture store I use knocks down the price if I pay cash as well.
Posted on 12/1/24 at 10:14 am to Jack Daniel
quote:
I see a lot of people, especially boomers, think saying “cash money” or “pay you in cash” gets them some kind of unrealistic discount. Where is this coming from?
Many small businesses would prefer to take a cash payment because they don’t have to report all this revenue to the IRS. Surely you understand this even though you aren’t a boomer right?
Posted on 12/1/24 at 10:42 am to Jack Daniel
Go buy gas w/ cash its less per gallon because the gas station makes you pay the CC fees so they dont eat it.
Same at most restaurants.
Same at most restaurants.
Posted on 12/1/24 at 10:57 am to Jack Daniel
Not to mention avoiding credit card fees that are paid by the business.
The same transaction paid in cash reduces their cc fee expense.
Edit - what Mandingo said…
The same transaction paid in cash reduces their cc fee expense.
Edit - what Mandingo said…
This post was edited on 12/1/24 at 10:58 am
Posted on 12/1/24 at 10:59 am to KLSU
quote:
Not on automobiles. Dealers would much rather you finance than pay in cash.
He did say many instances….not all.
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