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Do you guys think a Dodge dealer will give me a better deal if I pay with cash instead of taking out a auto loan for a new Challenger???
 

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Cash means nothing to dealers. They usually profit (even if only a little bit) from you financing with them ... use that as leverage in your negotiations. Try not to let your emotions get in the way (this will be difficult, as you are buying a Challenger). Good luck :thumbsup:
 

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Those days are long gone. Only 10-15% of car purchases are cash anymore, and most of those are high-end luxury vehicles.

Dealers are best setup to get their money from the bank.
 

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Depends, if you have great credit you get a great interest rate, use the cash somewhere else to make it make you more money and not lose some as you drive it off the lot. Also ole Uncle Sam wants extra paper work on anything over 10K cash (unless that # has changed) when a car deal is done, leave them out of your business.;)

As said use the cash as leverage when making the deal.

Good Luck!
 

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If it were me, I'd negotiate the deal letting them finance it for you, and dicker down the price, that way they'd plan on making some on the backend and not worry so much about making it up front and may discount the price more, then when the first payment came due, i'd pay it off in cash. I haven't seen many stores discount heavy for cash lately.
 
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The dealerships would much rather have you finance your car through them. They have deals with all the lending institutes and make money on the loan also.

By mentioning cash they know they won't make any money on the finance end of the deal so they are going to try and get it up front , on the car itself.
 

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My personal experience - it doesn't make much of a difference when negotiating the price, especially on a "new car".

On used cars, you can haggle a lot more.
 
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Cash is only king if it's a private sale. Which means the seller gets their money immediately.

At a big dealership... Not so much. They will get their money one way or another.
 

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When you negotiate the price on a vehicle don't take into consideration if you finance or not. When asked what your going to do , tell them your going to decide after you decide where your going to buy from. After you get the best price you think you can get , then decide. If you can get a really cheap rate , always finance , even if you have the cash. If you have the cash and can't get a really cheap rate , then and only then use the cash. For those that don't have the cash and can't get the cheap rate , how bad do you want the car.
 

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My personal experience - it doesn't make much of a difference when negotiating the price, especially on a "new car".

On used cars, you can haggle a lot more.
When I bought mine new, I went to the dealership with a pre-approved loan from my bank. When they came back with a valuation on my trade in, I made sure they new I would be willing to finance through them if they gave me a decent deal on the trade in and could beat the rate from my bank.

Got an extra $500 dollars added to my trade in value and they beat my pre-approved rate (even if they did try to slide the same rate into the paperwork more than once - I caught it and they eventually changed it).

I'd agree, its of almost zero use on the "new" car portion, but if you have a trade in or would like to leverage a deal on interest rates, it might not be a bad way to go.

You just have to be careful and make sure they don't make one concession just to slide an extra cost in there to make it a zero sum game.
 

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Cash is still king.
Private sale you can save thousands on the spot.
Dealer - I don't care if they like finance...You negotiate right..give them your money..and tell the bank to take a hike.
Anytime a bank gets involved..it's not in your best interest. They are in business to make money off of you.
Even worse...the banks team up with the dealerships for a double whammy.

I like a car transaction as clean and clear as possbile. Cash will do that.

Also, I like to have a title of my car, Not some bank. If I want to sell it in a day I can.
 

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Cash is still king.
Private sale you can save thousands on the spot.
Dealer - I don't care if they like finance...You negotiate right..give them your money..and tell the bank to take a hike.
Anytime a bank gets involved..it's not in your best interest. They are in business to make money off of you.
Even worse...the banks team up with the dealerships for a double whammy.

I like a car transaction as clean and clear as possbile. Cash will do that.

Also, I like to have a title of my car, Not some bank. If I want to sell it in a day I can.
I agree with you that banks are a bunch of blood-sucking drones (my words, not yours), that good negotiating will get you a better deal, and that title in hand beats the alternative.

But to the OP's question: a good credit score means a lot more to a dealer than cash.

"I am paying cash" was the old way of getting a dealer's attention. Today, the magic words are "I have a perfect FICO score".
 
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Amen on the FICO score. You can do better in most cases financing. You can always turn right back around and pay it off if you have the cash before a dollar of interest was paid.

Also, the people with a LOT of cash tend to finance everything when they can get -3% rates because that's 5% net or more investment opportunity.
 

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I wouldn't even mention the cash offer until you get the asking price
That both party's agree on... Look them in the eye and see that frown on
Their face lol.Just keep in mind, for every 1000$ you finance it's 20$ on the
Monthly payment.its something like that..
 

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Well I think no one on this board has been able to beat my price I got my new 2013
challenger sxt on Jan 31st 2013.

I bought my new challenger for $20,755 plus I worked in the window tint for $150
for a total of $20,905.00 out the door, I paid cash ( Bank check) I wasn't going to lug
a hand full of cash across state lines.

I hit all the dealers online that I was willing to travel to, I made sure I was going to buy out of
state to avoid their local taxes, because my local taxes in Kansas are much cheaper
which saved me a few 100 on taxes when it came time to tag it.

I would talk about price of the car and never tell them what I wanted to spend or thought
was a fair price, If they asked if I needed finianced I told them let's talk about price
of the car first, settle on the price first.

It took many months of dealing, my lowest agreed to price in writing was around
$23,500.00. I let them know I was not interested in games and if the price
changed when I came to get the car I would walk, made sure this was known up front.

I finally got an email from a dealer in Oklahoma who said if I would be there in two days
(last day of the month)
to pick up this car he was trying to sell, he would sell it to me for $20,755.00. We had
went back and forth thru many emails, I called and I talked to the salesman and I was
able to get him to give me the price in writing thru fax and made it clear no games. I was able
to work in the tint and they sent me another price with it added.

I went to the bank and got the cashiers check and headed to the dealership, saw the car,
looked it over real good, it was as they described and it looked just like the pics they sent
and had the same vin number as we agreed on for price. I think the car had 35 miles on
it.

during closing they asked if I needed finianced I said no, they wanted to sell
me all kinds of extra stuff, they pushed to finiance me over and over, I said no, I brought
the money to close this, no games I said this was the price we agreed on. Closing took
about 1 hr of there B.S. to up sell products, I kept repeating myself no no no, this it.

Finally the papers was signed, the paper that i signed was nothing like the price
quote they had faxed me, they had car price of something like 25,700 minus
rebates minus this minus that and other B.S. but at the bottom the price was
$20,905.00 with no mention of the window tint anywhere, all number games.

In the end I handed them $20.905.00 cashier check and I drove away.

In the back of my mind during my car search I wanted to buy a new challenger sxt
for under 23K but never ever showed my hand on this, one finally cracked
and gave me a deal that was much better then I could have ever hope for.

One of those last deals of the month just to move cars and I won.
 
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