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Posted: 7/6/2015 5:37:57 PM EDT
[#1]
Of course
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Posted: 7/6/2015 5:38:23 PM EDT
[#2]
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Posted: 7/6/2015 5:39:35 PM EDT
[#3]
dealerships are now mostly filled with financing salespeople, who have cars as incentives.
there'd be much eye-rolling, but if you're persistent and insistent, it would probably get done eventually. |
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Posted: 7/6/2015 5:39:51 PM EDT
[#4]
Probably not because of the liability of it. Although I'm sure they would figure out a way to make it work.
However, contrary to popular belief dealerships prefer financing to "cash deals". Always kills me when guys are like "I'm paying cash so I want the best price". Dealerships will make more financing it for a lower price than selling it outright to a cash buyer. |
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Posted: 7/6/2015 5:40:29 PM EDT
[#5]
Only if you can make it to the dealership without losing the money to asset forfeiture.
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Posted: 7/6/2015 5:40:35 PM EDT
[#6]
Yes. My mother paid cash for her last car.
Quoted:
Probably not because of the liability of it. Although I'm sure they would figure out a way to make it work. However, contrary to popular belief dealerships prefer financing to "cash deals". Always kills me when guys are like "I'm paying cash so I want the best price". Dealerships will make more financing it for a lower price than selling it outright to a cash buyer. This. They were also going to pay cash for my fathers truck, but if they financed $10k of the purchase price, the dealer agreed to drop another $4k off the price of the truck. |
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Posted: 7/6/2015 5:41:02 PM EDT
[#7]
Don't let them know you are paying cash. You often can get a better deal. Ford offers $1000.00 rebate if you finance through Ford Credit. Wait a few weeks and then pay it off or refinance at a lower rate. That's what I did.
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Posted: 7/6/2015 5:41:16 PM EDT
[#8]
Would they take it as payment? Yes.
Would they be happy about it? Not really. |
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Posted: 7/6/2015 5:41:58 PM EDT
[#9]
Sure why not
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Posted: 7/6/2015 5:42:36 PM EDT
[#10]
Nope
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Posted: 7/6/2015 5:42:58 PM EDT
[#11]
Quote HistoryQuoted:
Only if you can make it to the dealership without losing the money to asset forfeiture. Indeed |
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Posted: 7/6/2015 5:43:10 PM EDT
[#12]
Quote HistoryQuoted: Don't let them know you are paying cash. You often can get a better deal. Ford offers $1000.00 rebate if you finance through Ford Credit. Wait a few weeks and then pay it off or refinance at a lower rate. That's what I did. This is probably the best route if any incentives are there for the taking. If it's over the cash reporting threshold they might have some paperwork for you to sign. |
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Posted: 7/6/2015 5:43:11 PM EDT
[#13]
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Posted: 7/6/2015 5:43:28 PM EDT
[#14]
Absolutely you can, did this exact thing last September. IT IS also super funny to see the look on the employees faces when you tell them you are meaning to pay with cash lol as eyes get wide.
Quoted:
Would they take it as payment? Yes.Would they be happy about it? Not really. This. Quoted:
Nope Wrong (Unless Lousy-anna has different rules than Texas on this matter) |
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Posted: 7/6/2015 5:43:38 PM EDT
[#15]
Quote HistoryQuoted:
Nope By Law they have to. |
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Posted: 7/6/2015 5:43:49 PM EDT
[#16]
Ok so they would take a check (bank) or yours certified clear..........But not cash..........
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Posted: 7/6/2015 5:44:25 PM EDT
[#17]
I bought a new 1975 LTD Brougham with cash. The salesman wouldn't hardly talk to me and when I told him I was interested in the car sitting in the showroom...he tied to steer me towards something cheaper. At the time I was wearing jeans and a tee shirt and was bare-foot.
I finally told him to get his boss who was only too happy to let me pay cash money for the car I actually wanted. Gotta imagine the salesman got an earful. 
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Posted: 7/6/2015 5:44:31 PM EDT
[#18]
Quote HistoryQuoted:
By Law they have to. Quote HistoryQuoted:
Quoted:
Nope By Law they have to. And no they don't |
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Posted: 7/6/2015 5:45:14 PM EDT
[#19]
Quote HistoryQuoted:
Don't let them know you are paying cash. You often can get a better deal. Ford offers $1000.00 rebate if you finance through Ford Credit. Wait a few weeks and then pay it off or refinance at a lower rate. That's what I did. last 4 vehicles like this. Get the financing deal, then pay it off in a couple of months. Dealer gets their bite, they're glad to see you come back. '07 nissan frontier, '07 toyota FJ, '09 honda accord, '13 Toyota 4runner, all paid off within 3 months. |
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Posted: 7/6/2015 5:45:34 PM EDT
[#20]
Don't get pulled over by the cops.
They'll take it all. |
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Posted: 7/6/2015 5:46:01 PM EDT
[#21]
Sold an Impala last month for $24K
Customer paid for it with 100's and 50's. Some people deal in cash only, not many but some do. |
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Posted: 7/6/2015 5:46:08 PM EDT
[#22]
Quote HistoryQuoted:
Don't let them know you are paying cash. You often can get a better deal. Ford offers $1000.00 rebate if you finance through Ford Credit. Wait a few weeks and then pay it off or refinance at a lower rate. That's what I did. Ding ding ding. The authoritative answer to this question. Dealerships will give you a better price if you finance because they get kickbacks from the finance company for essentially sending more debt their way. |
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Posted: 7/6/2015 5:46:54 PM EDT
[#23]
There are some dealerships in certain areas of high drug trafficking that advertise that the will not accept cash.
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Posted: 7/6/2015 5:46:58 PM EDT
[#24]
Quote HistoryQuoted:
Sold an Impala last month for $24K Customer paid for it with 100's and 50's. Some people deal in cash only, not many but some do. Would you have sold it cheaper if they didn't pay with cash? |
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Posted: 7/6/2015 5:47:25 PM EDT
[#25]
Quote HistoryQuoted:
Ok so they would take a check (bank) or yours certified clear..........But not cash.......... You are still wrong. a) many car dealers WILL take cash. As others have mentioned, they may not like it, but they will take it. b) I've bought multiple cars with a personal check, and nobody waited for it to "clear." When we bought my wife's Panamera last year, we wrote a personal check, and drove off the lot in the new car ten minutes later. |
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Posted: 7/6/2015 5:47:38 PM EDT
[#26]
I bought my last car with cash, no problem. They would prefer to finance so they can get the front and back end money from the bank but they'll take cash all day long too.
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Posted: 7/6/2015 5:48:09 PM EDT
[#27]
Quoted: lets say one decided to empty their mattress to buy a new ride. if they went to a dealer would they take it as payment? Finance it and pay off the entire loan on the first payment. You will get a much better deal if you finance as that's where dealerships make their money.. |
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Posted: 7/6/2015 5:50:44 PM EDT
[#28]
Common practice in S Florida during the 80's. Stories of guys walking in and buying Porsche's Lambo's and Cigarette boats with briefcases full of cash.
Now they have to report cash deals I think. |
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Posted: 7/6/2015 5:51:20 PM EDT
[#29]
I work at a dealership , of course we take cash, finance dept hates it because we can sell a car at a loss and still make points on finance, the banks pay us to sell you a loan.
and don't forget the aftermarket guy that wants to sell you undercoating, a winch for your truck and a remote start. that how a dealership makes money nowadays and cash or a personal check or a bank check over 10k we have to report to the irs,only certified checks do no get reported we also have to run you thru a database to make sure you are not terrorist |
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Posted: 7/6/2015 5:51:49 PM EDT
[#30]
Made a small dealer lose money on a new Mustang convertible years back like this. I doubt this would have played out with a larger dealer, and I had no intentions of it but I guess they put their 'profit money' into the financing basket.
After going back and forth on price, and this is invoice, I don't care about invoice, blah blah blah I got a price much lower than I thought I'd get. Even had them send it in writing to me because I thought someone fucked up or quoted me the wrong model. Get there with a bag of cash. Had to bring a friend just in case. The look on the manager and finance guys faces when I showed up with cash were a mix of amusement and a mix of horror. They kept trying to tell me to finance it with X % down to get some super low rate, blah blah blah. They would not stop with the financing bullshit - it'll help my credit (why? credit is fine), can finance into a better car, can refinance, can pay it off early..whatever. They finally realized it wasn't going to happen and people kept going off to talk to other people - I figured someone was coming in to eventually tell me that the deal was off, but at the first sign of that I handed them their email saying here's the price, good until X date. There was absolutely ZERO possibility they made a dime on that car. I think they were dumb or not thinking correctly and were banking on some sort of financing kickbacks, factory rebates or something. |
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Posted: 7/6/2015 5:53:14 PM EDT
[#31]
Quote HistoryQuoted: Ok so they would take a check (bank) or yours certified clear..........But not cash.......... Wrong. Cash works just fine. Dealerships hate it for a lot of reasons, but there's nothing that says you can't buy a vehicle with cash. If you qualify for a very low APR, you'd be stupid to buy a new car with cash, though. |
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Posted: 7/6/2015 5:53:45 PM EDT
[#32]
Quote HistoryQuoted:
I work at a dealership , of course we take cash, finance dept hates it because we can sell a car at a loss and still make points on finance, the banks pay us to sell you a loan. and don't forget the aftermarket guy that wants to sell you undercoating, a winch for your truck and a remote start. that how a dealership makes money nowadays and cash or a personal check or a bank check over 10k we have to report to the irs,only certified checks do no get reported we also have to run you thru a database to make sure you are not terrorist Yep. This is what happened except I didn't finance a dime and somehow they banked on it, and had zero intentions of buying undercoating or whatever else. |
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Posted: 7/6/2015 5:54:33 PM EDT
[#33]
Quote HistoryQuoted: Common practice in S Florida during the 80's. Stories of guys walking in and buying Porsche's Lambo's and Cigarette boats with briefcases full of cash. Now they have to report cash deals I think. All cash transactions over $10k have to be reported. That's not just for vehicles. |
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Posted: 7/6/2015 5:54:36 PM EDT
[#34]
Also... for your consideration...
Finance car, get finance discount of 1000-2000 bucks. Pay finance company with check or balance transfer and pay entire car off. Win. ...or pay finance company with miles/rewards credit card... Super win. |
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Posted: 7/6/2015 5:55:11 PM EDT
[#35]
Quote HistoryQuoted: Finance it and pay off the entire loan on the first payment. You will get a much better deal if you finance as that's where dealerships make their money.. Quote HistoryQuoted: Quoted: lets say one decided to empty their mattress to buy a new ride. if they went to a dealer would they take it as payment? Finance it and pay off the entire loan on the first payment. You will get a much better deal if you finance as that's where dealerships make their money.. |
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Posted: 7/6/2015 5:55:49 PM EDT
[#36]
At my dealership we had a young couple pay cash for a land cruiser a couple years ago
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Posted: 7/6/2015 5:57:46 PM EDT
[#37]
Quote HistoryQuoted:
All cash transactions over $10k have to be reported. That's not just for vehicles. Quote HistoryQuoted:
Quoted:
Common practice in S Florida during the 80's. Stories of guys walking in and buying Porsche's Lambo's and Cigarette boats with briefcases full of cash. Now they have to report cash deals I think. All cash transactions over $10k have to be reported. That's not just for vehicles. I think even a $20k check is reported |
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Posted: 7/6/2015 6:07:35 PM EDT
[#38]
Quote HistoryQuoted: There was absolutely ZERO possibility they made a dime on that car. I think they were dumb or not thinking correctly and were banking on some sort of financing kickbacks, factory rebates or something. They don't care... the dealership still gets bonuses when they sell over X number of cars. Plenty of dealers are willing to take a small loss on a unit just to hit their volume numbers and there's a specific amount of profit worked into each car that they'll get even if it LOOKS like they're losing money on the car. They were trying to get you to finance the car because paying cash when you qualify for a low APR is a dumb move. People have all sorts of reasons for it and it usually comes down to the principle of the matter instead of solid businesses sense. I used to be a finance manager and I talked a lot of people into financing with a simple statement: "You qualify for 0.9% (or 0% or whatever) on this car. You prefer to pay cash, which we'll gladly take, but is that cash currently in an interest-bearing account?" The answer was universally: "Yeah it is..." Some people even do stupid shit like pull money out of their 401K to pay cash for a new car. There are times when it's the finance guys' job to keep people from making stupid decisions with their money. You will never... EVER "get one over" on a dealership and there are times when they're simply trying to get you to not be foolish about the purchase. If you qualify for a very low APR and you're not buying any aftermarket products, they aren't making much money on you anyway so the advice is genuine advice. They make their money on low and mid-range credit-quality buyers who are uninformed. |
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Posted: 7/6/2015 6:08:14 PM EDT
[#39]
Quote HistoryQuoted:
Also... for your consideration... Finance car, get finance discount of 1000-2000 bucks. Pay finance company with check or balance transfer and pay entire car off. Win. ...or pay finance company with miles/rewards credit card... Super win. i couldn't figure out how to make my car payments with a credit card... would love the extra cash back though ETA there is a way to do it but they charge a convenience fee and i can't set it up to auto every month |
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Posted: 7/6/2015 6:08:23 PM EDT
[#40]
Most would figure it out.
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Posted: 7/6/2015 6:11:20 PM EDT
[#41]
Not a car, but I recently paid $13,700 cash for a travel trailer. When I offered cash during negotiation, the dealer asked, "real cash?" and I said, "yes, real cash." Negotiation over.
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Posted: 7/6/2015 6:12:58 PM EDT
[#42]
I remember buying an off lease chevy (still have it) had 3.9 financing from my credit union, dealership wasted about an hour of my time to find a better deal....
came up with 3.8
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Posted: 7/6/2015 6:14:33 PM EDT
[#43]
Last new car I bought was an '08 Trailblazer SS AWD. This was when GM was going under but before Uncle Sugar did his thing. I had just built a shop at my place
and had extra cash on hand. I needed a new vehicle due to an unexpected encounter between my '98 Durango and a deer. Sticker was $39,000. 2 discount incentives brought the cost down to $28,000. I wrote a check for $13,000 and told the salesman I wanted to put the rest on my American Express. He said fine. Finance/leather treatment/windshield treatment/extended warranty guy said no way. I told him the salesman said it was cool. He refused. I asked to speak with the owner. He got the owner and brought him to the finance office. I was sitting down. The owner walked in, looked me over and said, "Do it." The finance guy looked like he was going to have a cow, then he wilted like a dead plant. I really struggled not to bust out laughing. I wrote the check and put the balance on my CC. I paid it off when the bill came the next month, and earned enough flyer miles to get a free round trip ticket home to see my folks. |
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Posted: 7/6/2015 6:18:09 PM EDT
[#44]
Quote HistoryQuoted: I remember buying an off lease chevy (still have it) had 3.9 financing from my credit union, dealership wasted about an hour of my time to find a better deal.... came up with 3.8 Did you go with the dealership's financing? The dealership will bend over backwards to beat outside financing because they are paid incentives from their financing sources. They make jack shit on outside-financed deals because they don't get any kickbacks and the credit unions/banks usually have very low "loan to value" limits so they can't add aftermarket products. The finance department's job is to get you to finance with the dealership so they have more room to make some extra money. It wasn't a matter of "getting you a better rate", it was a matter of getting it low enough that you'd choose their financing. |
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Posted: 7/6/2015 6:18:30 PM EDT
[#45]
I walked in had an insurance check for my last car.. I practically had to pull a gun to get them to take it. . I was leaving to go to another dealership and the salesman suddenly had a change of heart. .. then the finance guy started in and...well let's just say many would have been shocked and stunned at the language. ...
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Posted: 7/6/2015 6:22:57 PM EDT
[#46]
Quote HistoryQuoted: Last new car I bought was an '08 Trailblazer SS AWD. This was when GM was going under but before Uncle Sugar did his thing. I had just built a shop at my place and had extra cash on hand. I needed a new vehicle due to an unexpected encounter between my '98 Durango and a deer. Sticker was $39,000. 2 discount incentives brought the cost down to $28,000. I wrote a check for $13,000 and told the salesman I wanted to put the rest on my American Express. He said fine. Finance/leather treatment/windshield treatment/extended warranty guy said no way. I told him the salesman said it was cool. He refused. I asked to speak with the owner. He got the owner and brought him to the finance office. I was sitting down. The owner walked in, looked me over and said, "Do it." The finance guy looked like he was going to have a cow, then he wilted like a dead plant. I really struggled not to bust out laughing. I wrote the check and put the balance on my CC. I paid it off when the bill came the next month, and earned enough flyer miles to get a free round trip ticket home to see my folks. The finance guy said no because dealerships have to pay CC fees like every other business. Most dealerships won't put over $2000-$3000 on a CC without an exception from the General Manager. The salesman said it was cool because he was an idiot just trying to make his sale. The sales guys will say yes to everything you ask if they think it will get them a sale that day. Pro-tip: if you really want to have a negotiation about money, wait until you get into the finance manager's office. The salesman holds NO power, the sales manager holds just a tiny bit of power, but the Finance Manager is the one who can make things happen and get you a real deal. |
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Posted: 7/6/2015 6:23:41 PM EDT
[#47]
Quote HistoryQuoted:
Did you go with the dealership's financing? The dealership will bend over backwards to beat outside financing because they are paid incentives from their financing sources. They make jack shit on outside-financed deals because they don't get any kickbacks and the credit unions/banks usually have very low "loan to value" limits so they can't add aftermarket products. The finance department's job is to get you to finance with the dealership so they have more room to make some extra money. It wasn't a matter of "getting you a better rate", it was a matter of getting it low enough that you'd choose their financing. Quote HistoryQuoted:
Quoted:
I remember buying an off lease chevy (still have it) had 3.9 financing from my credit union, dealership wasted about an hour of my time to find a better deal.... came up with 3.8 Did you go with the dealership's financing? The dealership will bend over backwards to beat outside financing because they are paid incentives from their financing sources. They make jack shit on outside-financed deals because they don't get any kickbacks and the credit unions/banks usually have very low "loan to value" limits so they can't add aftermarket products. The finance department's job is to get you to finance with the dealership so they have more room to make some extra money. It wasn't a matter of "getting you a better rate", it was a matter of getting it low enough that you'd choose their financing. nope stuck with my deal, paid it off early anyway |
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Posted: 7/6/2015 6:25:05 PM EDT
[#48]
Quoted:
lets say one decided to empty their mattress to buy a new ride. if they went to a dealer would they take it as payment? AFAIK yes. I knew a guy who only paid in cash. He said he usually ended up with a better deal. That being said, don't be surprised if they ask for proof of where you got it from though. |
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Posted: 7/6/2015 6:25:39 PM EDT
[#49]
Quote HistoryQuoted: I walked in had an insurance check for my last car.. I practically had to pull a gun to get them to take it. . I was leaving to go to another dealership and the salesman suddenly had a change of heart. .. then the finance guy started in and...well let's just say many would have been shocked and stunned at the language. ... How dare a business try to make money... How dare a guy who's paid commission try to do his job so he can pay his bills... I get why people hate car dealership employees so much but sometimes it's helpful to put yourself in their shoes. |
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Posted: 7/6/2015 6:26:49 PM EDT
[#50]
Quote HistoryQuoted: Probably not because of the liability of it. Although I'm sure they would figure out a way to make it work. However, contrary to popular belief dealerships prefer financing to "cash deals". Always kills me when guys are like "I'm paying cash so I want the best price". Dealerships will make more financing it for a lower price than selling it outright to a cash buyer. Couldn't a cash buyer leverage a deal by not agreeing to financing? Cash deal straight up for less profit or no sale at all, and all that.. Just curious. |
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