pallidamors

I know this is 4.6 tech but this is where I hang out so....When a dealer says this is the "cash price" how is that different from a financed price. Seems to me a price is a price no matter where the money comes from. Seems to me that this is just a way for the dealer to rip people off or what?

Silver99GT

Most dealers get a half point or soof the interest money on financed vehicles. They have deals with banks and other lending institutions. Therefore, you can usually get a better deal if you let them finance it, then write the check to pay it off a week later. This works wellat large dealerships as they think they're going to get some interest money so they can sell you the car with a lower base price. Small lots sometimes want the cash as they're just making the rent each month so a cash deal with these dealers usually works best.

bransdaman78

well, cash price... is normally much lower, esp if you catch the dealer at the end of the month when his payments are due... even financing you can expect to cut aprox 2-3k off the price right off the bat, with a cash price maybe a little more... again it depends on the car the dealer, the time of year, etc etc
I bought my car for 5k under private party value from a dealer, right time and the car was a trade in.. .good deals to be had, offer what you WANT to pay and not a penny, more you may aslo have to leave a few times and not get the car you orginonlly (cant spell) wanted, but as always there is another one jsut like it around the corner

droptoppony

The financed price will depend on your credit...if you have good credit then the financing won't cost more so its the same as cash but if your credit sucks it will sometimes cost money for a lender to give you the loan. I worked at a dealership that gave alot of loans for people with horrible credit and the lender needed 3k down which all went to the lender as a fee so that 3k was added to the price of the car. Some people are desperate and will do anything to get a new car. I used to sell alot of neons and they would be @450 a month because of the high interest rate and lender fees tacked on.

Dan04COBRA

Yeah that's insane.

IMO, never get financing through the dealership without atleast getting approved by a credit union. Dealers will tack on insane % through deals with the bank, while the bank might have approvedy you for 3-5, the dealer came back with 8-9%...garbage.

Sometimes personal loans are better as you can cash the check and go to the dealer with a bunch of cash and get an excellent deal. Since auto loans require the title and such, you won't be able to cash a check from the bank.

pallidamors

I have excellent credit (beacon score of 714) and Im only 22 so thats pretty good I guess. I was looking at capital one online where they give you this blank check thing and then you buy the car for whatever and thats your loan amount. How do you think I should finance the GTO Dan? The mustang I financed at the dealer through bank of america and I got an interest rate of 6.49 on a used car which wasnt too bad at the time. How do you finance without doing it at the dealership? Do I just call a bank or something and have them give me a loan for a certain amount?


BTW.....The GTO will be used.

pallidamors

bump