Can you trade in and pay cash

[reek]

not these days at dealers. they want you to finance through them so they can get a kickback. most of the time when you see a "best price" online type add it includes some sort of 500-1000 finance "cash back" also.

so then cash walks?

 

[baum]

so then cash walks?

at some dealers yes!

 

[baum]

so then cash walks?

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.

 

[baum]

No offense but that's just as ignorant. Cars are not investments lol, if you paid it off in 4 'moths , you still overpaid. Why didn't you just pay cash if you had hr cash.

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.

 

[bubbagumpshrimp]

at some dealers yes!

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.

 

[JIMBOX]

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



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

Good luck

JIMBO

 

[reek]

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.

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.

 

[cgeorgemo]

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?

 

[yillbs]

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 *****, 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.

 

[Hootbro]

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 *****, 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.

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.

 

[Rzrman328]

.

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.

I thought I read somewhere that tesla or maybe it was fisker(karma) who was trying to sell directly to customers? No dealerships....takin out the middle man.

 

[Hootbro]

I thought I read somewhere that tesla or maybe it was fisker(karma) who was trying to sell directly to customers? No dealerships....takin out the middle man.

Yeah, I was about to include that. Tesla is unique in that they are a fresh startup without any franchise dealerships already established. They have run into some problem in a few states because of the franchise laws. I think Texas is the biggest one to push back on them because the franchise dealer lobby in that state pushed to enforce their protectionist franchise laws.

FCA and the other establish vehicle makers have to undo franchise laws before they can sell direct with any success because of already established franchise dealership networks they have. Basically it would be billions in costs to break franchise contracts with their locally owned dealership network if the law allowed it anyways. Tesla as previously mention does not have problem per say.

 

[SHOOT2KILL]

Theres even different policys within the same dealer networks...I paid cash for a 14 Dodge Caravan at the local dealership...I could have saved an additional $1500.00 by driving south 70 miles, but the wife got sucked into the salesman pukes sob story of his pregnant wifes medical issues...Fast forward to my turn for new wheels...When I was shopping my new truck I went to the Ford dealership that is owned by the same network as where I bought the van...I told them I would be paying cash for this truck also, just like I did with the van at their other dealership....They said no problem, the price of the truck would increase by $1500.00 by NOT financing with FORD CREDIT....LOOOOOL...C-YA...Found (2) 2015 Ram 2500's I was willing to buy...1 was at the same dealership I purchased the van, the other was again 50-60 miles south at an Illinois dealership...Both these trucks had an MSRP difference of only $20.00 but the local dealer was again $1500.00 higher, even though I had just bought the van from them last year and again I was paying CASH for this truck also...Local dealer would not budge, so the Illinois dealer got the sale....Many, many factors play into these dealership sales shenanigans, including (animosity) the fact you have enough cash to pay $65-70,000.00 on 2 vehicles. Sales qoutas also...Never buy a vehicle at the beginning of a month, because by the middle of the third week all the salesman, closer pukes are scrambling to make quotas. If not they get their nutz twisted by upper mgmt..............

 

[yillbs]

I think it still boils down to ignorant people. We should combat this by using brokers exclusively. Why is a dealer going to bat an eye at my deep pockets, when he can sell the truck to some guy 3 hours from now at 25% interest, get kick backs, and not have to haggle over the price lol

 

[bubbagumpshrimp]

I thought I read somewhere that tesla or maybe it was fisker(karma) who was trying to sell directly to customers? No dealerships....takin out the middle man.

Tesla sells exclusively through company owned stores and has a corporate pricing policy. Unless a car is a demo, is damaged, or was a floor model...it sells for MSRP. Period. No ******** "employee pricing," "VIP" pricing, or similarly ridiculous ******** that is the industry norm.
.
I think Elon Musk is a complete douche (ex. His business wouldn't be solvent if it weren't for the government, but he runs his mouth like a self-made and self-supported man), but he has a good point in the link below.

He hits on what's wrong (to me) with new car buying. Why am I going to pay $35k+ out the door for a truck that would have been $32-33k out the door if I happened to have purchased when the incentives were better?

Elon Musk to Tesla employees: NEVER discount a car - Sep. 30, 2016

"There can never -- and I mean never -- be a discount on a new car coming out of the factory in pristine condition," Musk wrote. "This is why I always pay full price when I buy a car and the same applies to my family friends, celebrities, no matter how famous or influential."

"If you can't explain to a customer who paid full price why another customer didn't without being embarrassed, then it is not right," the email says.

Tesla only permits discounts on cars that have been damaged, or used for test drives or as floor models, according to the email.