Can you trade in and pay cash

Discussion in 'General Discussions' started by hemipower95 2.0, Jan 11, 2017.

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  1. reek

    reek Senior Member

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    so then cash walks?
     
  2. baum

    baum Senior Member

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    at some dealers yes!
     
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  3. baum

    baum Senior Member

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    at some dealers yes!

    In MN where i am a dealer can mark up a loan 2% meaning the bank may give it to the dealer at 2% but they "sell" it to you at 4%. guess who get that extra the dealer. They offer the extra rebates for financing through them because they know they can make it up on these deals.

    a year ago i got rid of my camaro (paid in full) and traded it on a chrysler 200 i only had to pay a little extra in cash and i walked out with title "in-hand" but because i didnt finance through them i didnt get an extra 500 off. which in my case it didnt bother me as i already got almost 8k off of sticker.
     
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  4. baum

    baum Senior Member

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    because i went on vacation shortly after i got the car so i was waiting until i was back. with the price i got it for the $30 i paid in interest for the 4 months i had the loan was still under what most dealers sold the car for.

    When i get cars from GM, ford, Chrysler for supplier pricing, plus rebates, plus competitive lease offers i have paid 75-80%msrp for my last 5 cars. thats how i got my current laramis with a sticker of 49.9k for out the door of 35k before down payment.
     
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  5. bubbagumpshrimp

    bubbagumpshrimp Senior Member

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    Yup. See credit card company lingo. People that pay off their card(s) each month and run a zero balance are referred to as "deadbeats."

    These dealerships get kickbacks for each person they get to use 'x' financing source. It's not just for Chrysler Financial. ex. They said they got a $300 kickback for loans they pushed for a small local bank.
     
  6. JIMBOX

    JIMBOX Senior Member

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    :) yup, this baby cost me $23K cash and my '08 jeep trade-in

    [​IMG]

    Money means INSTANT approval--no timeline for a dealer-

    Good luck

    :crazy: JIMBO
     
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  7. reek

    reek Senior Member

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    Interesting. I've never had issues paying cash nor walking in with pre-approved financing from non-dealer source and still having the dealer falling over themselves to still sell me a car. In fact my last 6 car purchases have been through a USAA loan, which would be like walking in with (someone else's) cash. must be a regional thing where dealers don't want a sale because you don't finance with them. Not saying cash has the bargaining power it did in the 80's but I haven't seen a "take your cash and walk" attitude at a dealer yet. atleast not I California.
     
  8. cgeorgemo

    cgeorgemo Senior Member

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    I got an additional $500 off the truck for financing through the dealer. I got the bill and paid it off. It cost me $36 in interest to save the $500 off the truck. I only financed the minimum amount they require to get the rebate.


    I wonder what this button does?
     
  9. yillbs

    yillbs Senior Member

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    in an era where more and more ignorant people are making life choices, dealers really don't care about cash. You see, dealers are getting 25-29% interest loans all day long, and stupid people are buying them.

    I walked in with a bag, literally, a bag of cash. Dealer didn't give two shits, all they cared about was, how much i wanted to finance, and what i wanted my " monthly payment to be ".. it's such a pity, it's a shame these people ruined it for everyone else.
     
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  10. Hootbro

    Hootbro Senior Member

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    You can blame state franchise laws that got setup in the 1920's and 1930's where vehicles were literally a pig in a poke in terms of quality and the states wanted a locally owned go between the consumer and the vehicle makers.

    Nowadays, it is a archaic law and they need to get away from having that extra layer between the consumer and the vehicle makers and just have corporate owned direct sale stores. It would lower costs and get rid of the Kabuki dance dealers do to swindle extra profit.
     

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