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re: Is a car purchased from a used car lot lower when paid for by cash rather than financed?
Posted on 5/5/24 at 8:25 am to tigersbb
Posted on 5/5/24 at 8:25 am to tigersbb
If we are talking about a dealer, telling them you will pay in cash is a huge negative to them as they make money on both ends of the deal.
Usually if you talk it out, they will want you to take their financing for X number of days until you pay it off in full to get the lowest possible price.
Usually if you talk it out, they will want you to take their financing for X number of days until you pay it off in full to get the lowest possible price.
1
Posted on 5/5/24 at 9:26 am to tigersbb
Posted on 5/5/24 at 9:52 am to tigersbb
quote:
My daughter has only a fair credit scored due to some financial issues caused by a former husband. I am trying to help her avoid financing...
As a related aside....if she has only fair credit, you may want to consider providing her with a large down-payment (maybe 70-80%) then have her finance the rest and have the payment auto-drafted. She needs to bulid her credit back up.
Posted on 5/5/24 at 9:52 am to UltimaParadox
quote:
If we are talking about a dealer, telling them you will pay in cash is a huge negative to them as they make money on both ends of the deal.
Generally true but if we are talking about smaller mom n' pop used car lots (versus Carmax, certified pre owned, etc) then they might still be incentivized to do cash deals now if they are having cash flow problems, tax issues or trouble clearing inventory.
It all depends on the individual circumstances. And I don't image most used car buyers use dealership financing (in-house or partnered) to finance their used cars but instead go through their own bank, credit union, insurance or employer instead of whatever paperwork Lucky Larry's Used Car Emporium has to offer. Who knows, maybe I'm wrong. I know that's what I would do.
Posted on 5/5/24 at 9:54 am to tigersbb
quote:
Is a car purchased from a used car lot lower when paid for by cash rather than financed?
I can’t even. 
Posted on 5/5/24 at 10:14 am to Mo Jeaux
quote:Agreed, and then he went all ape shite defending it as if it was coherently composed.
I can’t even.
My first impression was that’s indicative of a used car buyer.
Posted on 5/5/24 at 10:16 am to Murray
quote:
We really need age verification added to user profiles.
Which makes it worth mentioning that the profile in question joined in 2012.
Posted on 5/6/24 at 1:16 pm to soccerfüt
quote:
Is a car purchased from a used car lot lower when paid for by cash rather than financed?
quote:
I can’t even.
Agreed, and then he went all ape shite defending it as if it was coherently composed.
My first impression was that’s indicative of a used car buyer.
It was obvious my question related to the purchase price and not the ultimate amount paid when financed, but the usual assholes have to hijack the thread with smart arse comments so they can sit around nodding like Beevis and Butthead.
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