Buying a car


#1

Random question here. In the next few months I’ll be purchasing a new (used) car. I will be writing a check for this thing. #debtfree fo life! Would you recommend bringing this up to the dealer, does this help/hurt? I assume it speeds up the process since you’re simply cutting a check, but I’ve never done it this way before…kinda pumped to just do it…walk out the door and boom it’s mine.


#2

Don’t tell them you’re paying cash. They’ll lose a potential revenue source (financing your loan) and will make up for that loss of revenue by selling the car for a higher price.


#3

Thanks, and thanks for the article, I’ll check it out!


#4

I agree with @GetRichQuickish. Keep your cards to your chest until you play your hand. You have the negotiating power, but only after you find what you actually want.


#5

Never tell them you are going to pay cash. My last vehicle purchase was for a motorcycle. I financed it to get a lower price, made sure the loan did not have an early payoff penalty and paid it off right away. If anything act really poor. :slight_smile: Also do not buy the extended warranties etc. They are big money makers for car lots.