Automotive Forums .com - the leading automotive community online! Automotive Forums .com - the leading automotive community online!
Automotive Forums .com - the leading automotive community online! 
-
Latest | 0 Rplys
Go Back   Automotive Forums .com Car Chat > Car Buying Q & A
Car Buying Q & A Ask a question, get an answer; it's that simple. Visit AutomotiveHelper.com for useful car buying tools and research. Also, check out Vehicle History Reports to help you avoid chances of finding a lemon.
Reply Show Printable Version Show Printable Version | Email this Page Email this Page | Subscription Subscribe to this Thread
 
Thread Tools
Old 01-16-2021, 05:47 PM   #1
fdavisho
AF Newbie
 
Join Date: Jan 2021
Location: New Malborough, Massachusetts
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Pay for used car with cash

Hi all, I'm new to car buying and am planning to purchase my first vehicle (used Volvo) in the next couple of months. I have done some research and generally, it seems that paying cash for a new car is a bad idea when buying from a dealership, as it can drive the prices up since you aren't paying the extra from financing. However, I am strictly looking to buy a used vehicle, and wanted to know if offering to pay cash to a dealership (instead of financing) would give me any advantage in the price negotiation? Thanks

Last edited by fdavisho; 01-16-2021 at 05:59 PM. Reason: change location
fdavisho is offline   Reply With Quote
Old 01-17-2021, 06:06 AM   #2
aleekat
AF Enthusiast
 
Join Date: Dec 2001
Location: clarksville, Tennessee
Posts: 1,699
Thanks: 23
Thanked 183 Times in 179 Posts
Re: Pay for used car with cash

Yes. There is an "asking price" & a "selling price". Just be careful of the "add ons" that drive the price up. Get the offer in writing. Don't sign anything without reading it.(sounds simple but many do).
Don't know what model Volvo you are looking at. Proud owner of a 1985 740 bought brand new in 1985. If you do get one: Look here.
http://www.brickboard.com/RWD/index.htm?model=700
__________________
Post back, that's what makes Forums Work.
aleekat is offline   Reply With Quote
Old 01-17-2021, 07:43 AM   #3
fdavisho
AF Newbie
Thread starter
 
Join Date: Jan 2021
Location: New Malborough, Massachusetts
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Re: Pay for used car with cash

Thanks, I'm looking at the new line of 2012-2015 S60 T5, and as I'm buying used, options are generally preinstalled, but I'm definitely going for the absolute minimum when it comes to paying for it (no extra frills, planning to do insurance and registration myself).
fdavisho is offline   Reply With Quote
Old 09-21-2023, 01:30 AM   #4
Honda_Civic7
AF Newbie
 
Join Date: Aug 2013
Location: Venice, California
Posts: 39
Thanks: 3
Thanked 2 Times in 2 Posts
Re: Pay for used car with cash

Financing costs you more money. Dealers make more money off financing.
Honda_Civic7 is offline   Reply With Quote
Old 09-22-2023, 02:55 PM   #5
fredjacksonsan
Caution: Monkeys bite!
 
fredjacksonsan's Avatar
 
Join Date: Apr 2004
Location: near Denver, Colorado
Posts: 10,109
Thanks: 14
Thanked 67 Times in 62 Posts
Send a message via AIM to fredjacksonsan
Re: Pay for used car with cash

1. I'd get the internet price, in writing, which is usually less than the in person price.

2. Then, when negotiating the price tell them you have financing (but not that it's cash) and ask what discounts are available if you use their financing.

3. After making sure there is no early payoff penalty, take their financing and drive away in your new car. Then pay off the loan when the first payment is due. You might pay a little interest, but it'll be less than the discount.

I've done this more than once....accept theirs with discount, then use yours.
__________________
Ours: 2020 Jeep Wrangler 2.0, 53k
2013 Toyota FJ Cruiser, 84k
Kids: 2005 Honda CRV, 228k
fredjacksonsan is offline   Reply With Quote
 
Reply

POST REPLY TO THIS THREAD

Go Back   Automotive Forums .com Car Chat > Car Buying Q & A

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 03:40 AM.

Community Participation Guidelines | How to use your User Control Panel

Powered by: vBulletin | Copyright Jelsoft Enterprises Ltd.
 
 
no new posts