Who brings 14 grand in cash to a car dealership

April 19, 2017, 03:16 PM

T-Boy

In 1979 I purchased a new Cadillac "Coupe deVille" for my wife. When I went to pay I pulled out a thick envelope, the sales man said "Oh my goodness, you have cash...real cash not a check! No one pays with cash!".

The most fun I ever had buying a new car.

April 19, 2017, 03:17 PM

Aeteocles

quote:
Originally posted by PowerBook:
I am SO tired of ALWAYS being broke!!!!!!

Why are you always broke?

April 19, 2017, 03:18 PM

heathtx

I have a business working on and providing parts for Perazzi shotguns. It's not uncommon to see a customer with (significant) cash. Cash is king!

Unfortunately, the government and banking rules tighten the access and movement of cash frequently. Try to a withdraw $5,000 to $8,000 in cash and see if the tellers don't look at you funny.

April 19, 2017, 03:18 PM

Deqlyn

quote:
Originally posted by PowerBook:
I am SO tired of ALWAYS being broke!!!!!!

so do something about it!

April 19, 2017, 03:50 PM

Dusty78

quote:
Originally posted by Deqlyn:
quote:
Originally posted by bigwagon:
Nothing wrong with paying in cash if it works to your advantage, but in a lot of situations it won't necessarily buy you a better deal.

correct, most dealerships with in house financing can go lower if you finance it. Then pay it off before accruing interest.

I have a friend who does this and they get all the paper typed up then he says Ill just pay cash for that price. Saves him a step.

For me I find bringing cash shows them I'm serious and it cuts through a lot of the bullshit of let me go talk to the manager. I bring exactly what I willing to spend out the door. Can't sell it for that..no problem thanks for your time...which way is the door?

April 19, 2017, 05:09 PM

ZSMICHAEL

posted April 19, 2017 12:55 PM Hide Post
quote:
Originally posted by bigwagon:
Nothing wrong with paying in cash if it works to your advantage, but in a lot of situations it won't necessarily buy you a better deal.

correct, most dealerships with in house financing can go lower if you finance it. Then pay it off before accruing interest.

I have a friend who does this and they get all the paper typed up then he says Ill just pay cash for that price. Saves him a step.
__________________________________________________

I might try that for my next purchase. However my time is important to me, so how long does that take and how much will I save? I can then do the math myself. Thanks

April 19, 2017, 11:09 PM

grumpy1

SIL's ex went all cash shortly after her divorce. Even found someone to pay him cash for work evading taxes in the process. He did not want to pay child support for his three kids. Her lawyer said it happens a lot. He even drove a nice car but it was not in his name but his brothers. What a jerk.

April 20, 2017, 06:32 AM

irreverent

My dad. Without question. He doesn't mess around with checkbooks or cc. Not a drug dealer, just an excellent saver and frugal spender.

April 20, 2017, 06:58 AM

Deqlyn

quote:
Originally posted by ZSMICHAEL:
posted April 19, 2017 12:55 PM Hide Post
quote:
Originally posted by bigwagon:
Nothing wrong with paying in cash if it works to your advantage, but in a lot of situations it won't necessarily buy you a better deal.

correct, most dealerships with in house financing can go lower if you finance it. Then pay it off before accruing interest.

I have a friend who does this and they get all the paper typed up then he says Ill just pay cash for that price. Saves him a step.
__________________________________________________

I might try that for my next purchase. However my time is important to me, so how long does that take and how much will I save? I can then do the math myself. Thanks

Well if it takes an hour to do dig up loan paperwork and you save 2k. Thats a rate of 2k per hour. So thats how youd see if its worth your time. However runnimg your credit for a loan shouldnt take an hour.

April 20, 2017, 06:59 AM

Deqlyn

quote:
Originally posted by Dusty78:
quote:
Originally posted by Deqlyn:
quote:
Originally posted by bigwagon:
Nothing wrong with paying in cash if it works to your advantage, but in a lot of situations it won't necessarily buy you a better deal.

correct, most dealerships with in house financing can go lower if you finance it. Then pay it off before accruing interest.

I have a friend who does this and they get all the paper typed up then he says Ill just pay cash for that price. Saves him a step.

For me I find bringing cash shows them I'm serious and it cuts through a lot of the bullshit of let me go talk to the manager. I bring exactly what I willing to spend out the door. Can't sell it for that..no problem thanks for your time...which way is the door?

I agree but if you drop 25k down and they are willing to take it you probably could have gotten a better deal, start lower than youre willing to go.

April 20, 2017, 07:08 AM

David Lee

quote:
Originally posted by bald1:
A bit of a throwback but if you factor what this would be in today's dollars....

A bunch of us got together and headed to Reynolds Ford in Syracuse to scope out the new two seater we'd heard just showed up. A Ford Cobra 427. This was summer in 1965.

A couple of the group I did not know and one in particular, who was wearing cutoffs held up with a buoy belt and in general looked "surfer trashy", kept pressing the salesman for a test ride. Don't know what he said but he got his wish. We all stood in awe as the two piloted the car off the lot down Erie Blvd.

We wandered around looking at other new cars on the showroom and almost didn't notice the pairs return. This "kid" pulls out a wad of cash and says loudly "I'll take it!" OMG That was over 5 grand in cash he flashed. And yes he bought the car.

Turned out the kid was from a very weathy Cazenovia media mogul family. Regardless this whole episode was surreal.

So who brings cash to a car dealership? Ya never know!

I traded in one of my older Honda Accords up in Auburn, NY on a newer Accord and, to seal the deal I put down $20.00 down payment...

The newer Accord was just 23 grand. I still got that receipt today.

April 20, 2017, 07:46 AM

PeterGV

I have a good friend whose brother brought gold (in the form of bars, I was told) to the closing to pay for his (7 figure) house in Hawaii.

I wasn't there, of course, but my friend swears it's true.

He's Chinese. Apparently this is common.

April 20, 2017, 03:30 PM

jimmy123x

quote:
Originally posted by Deqlyn:
quote:
Originally posted by ZSMICHAEL:
posted April 19, 2017 12:55 PM Hide Post
quote:
Originally posted by bigwagon:
Nothing wrong with paying in cash if it works to your advantage, but in a lot of situations it won't necessarily buy you a better deal.

correct, most dealerships with in house financing can go lower if you finance it. Then pay it off before accruing interest.

I have a friend who does this and they get all the paper typed up then he says Ill just pay cash for that price. Saves him a step.
__________________________________________________

I might try that for my next purchase. However my time is important to me, so how long does that take and how much will I save? I can then do the math myself. Thanks

Well if it takes an hour to do dig up loan paperwork and you save 2k. Thats a rate of 2k per hour. So thats how youd see if its worth your time. However runnimg your credit for a loan shouldnt take an hour.

You DO NOT get a better deal if you finance it. I've worked for a new car dealer in the early 2000s, and owned a used car lot prior to that. Financing is never free and it is never cheaper than paying cash. On new vehicles 0% financing is in leiu of a rebate you would get if you pay cash....always. The sales floor is totally seperate of the Finance office. The sales floor doesn't care how you're paying for the car, just as long as they're selling the car.....finance office makes a little off of financing, BUT the price has already been determined before you ever step foot into the finance office.

April 20, 2017, 05:41 PM

FishOn

It will be a sorry day if we ever move to a cashless system. The govt and banks will truly be in control if that happens. I love cash deals.

April 20, 2017, 08:58 PM

sunburn

Who brings cash to a car dealer?

You ain't from South Florida is you boy?

April 20, 2017, 11:39 PM

EBRfan

When I was buying a used car for my step daughter, I was carrying around about $5k in cash thinking "cash on the hood" would move people easier. Private party,it just made them nervous. At used car dealers, including the one I ultimately bought a car at, they didn't want to deal with it (although one ultimately did). I was not expecting these reactions, and it annoys me to this day....

April 21, 2017, 12:01 AM

ZSMICHAEL

quote:
When I was buying a used car for my step daughter, I was carrying around about $5k in cash thinking "cash on the hood" would move people easier. Private party,it just made them nervous. At used car dealers, including the one I ultimately bought a car at, they didn't want to deal with it (although one ultimately did). I was not expecting these reactions, and it annoys me to this day....

Do you look a little sketchy? {sarcasm} I think some people are naturally nervous about cash. The snowflakes I have met don't pay cash either and some have never written a check. They all seem to have some app on their phone they want to use. I welcome cash in my business. A friend who is a criminal defense attorney has told me of FBI sting operations where they send in Hispanics with large amounts of cash to offer as a retainer. He has a sense for these things and does his best not to accept "drug money".

April 21, 2017, 12:56 AM

jimmy123x

quote:
Originally posted by EBRfan:
When I was buying a used car for my step daughter, I was carrying around about $5k in cash thinking "cash on the hood" would move people easier. Private party,it just made them nervous. At used car dealers, including the one I ultimately bought a car at, they didn't want to deal with it (although one ultimately did). I was not expecting these reactions, and it annoys me to this day....

I have NEVER met a seller of a car or boat that didn't prefer cash.

April 21, 2017, 09:31 AM

SgtGold

quote:
Originally posted by PeterGV:
I have a good friend whose brother brought gold (in the form of bars, I was told) to the closing to pay for his (7 figure) house in Hawaii.

I wasn't there, of course, but my friend swears it's true.

He's Chinese. Apparently this is common.

Asians and eastern Europeans seem to prefer cash, even on very large deals. They worked hard for that money, and many of the come from nations where the banks are nationalized and their money isn't as safe as it is in the west with FDIC and other programs. When I lived in Forest Hills NY houses would go up form sale on Monday, and be sold by friday. I asked a broker about this and was told it was buyers with suitcases full of cash.

I once bought a truck for cash on the hood. I won it on E-bay and the seller was local. He agreed to drive it in to my building in mid town Manhattan. We counted the money on east 52nd street with the cops from the 17 precinct making their shift change. No one looked twice.

April 21, 2017, 01:22 PM

goingbroke

Most of the people I deal with when buying stuff will offer no tax and a discount when paying with cash.

Such as when I buy pool chemicals and stuff from my friends place. Pay with cash, 25% less and no tax.

Buying some guns and ammo, still have to fill out the legal forms, paying cash-you getting a deal.

When I sell an older tow truck and the dude walks in with a pile of cash, it is a PITA to count and mark with the pen, but it is also easier to stick in a safe somewhere too. 3 or four hundred $100 bills ain't that hard to tote around.

Like they say, "Cash is King!"