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buying a new car with cash?
https://mail.chicagofanatics.com/viewtopic.php?f=47&t=102156		 Page 1 of 2
Author:  shakes [ Thu Sep 08, 2016 10:28 am ]
Post subject:  buying a new car with cash?
Looking to get a new car, time to replace the 2011 Terrain that has 102,000 miles on it and feels like its on its last legs every time I drive.

I've been fortunate enough at work recently where I can afford to buy a car in full rather than finance.

Has anyone done this before? If so, any tips for negotiating? I've been reading some articles and they say to not tell the dealer you are paying cash until you settle on a price because the dealers make less money if you pay cash and they will factor that into the negotiations.



Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.
Author:  Kirkwood [ Thu Sep 08, 2016 10:30 am ]
Post subject:  Re: buying a new car with cash?
financing when money is cheap is superior to cash
Author:  Chus [ Thu Sep 08, 2016 10:31 am ]
Post subject:  Re: buying a new car with cash?
I would pay half in cash, and finance the rest at a low rate.
Author:  Cashman [ Thu Sep 08, 2016 10:31 am ]
Post subject:  Re: buying a new car with cash?
shakes wrote:
Looking to get a new car, time to replace the 2011 Terrain that has 102,000 miles on it and feels like its on its last legs every time I drive.

I've been fortunate enough at work recently where I can afford to buy a car in full rather than finance.

Has anyone done this before? If so, any tips for negotiating? I've been reading some articles and they say to not tell the dealer you are paying cash until you settle on a price because the dealers make less money if you pay cash and they will factor that into the negotiations.



Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.



Take out a loan so he gets his commission, and then pay it off in full.
Author:  Bagels [ Thu Sep 08, 2016 10:32 am ]
Post subject:  Re: buying a new car with cash?
pay with credit card to get the rewards
Author:  Brick [ Thu Sep 08, 2016 10:33 am ]
Post subject:  Re: buying a new car with cash?
shakes wrote:
Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.
I know you said you aren't buying American but I was very impressed by the 2017 Acadia.

American companies also make most of the best SUVs too now so you may not want to limit yourself like that.
Author:  Chus [ Thu Sep 08, 2016 10:33 am ]
Post subject:  Re: buying a new car with cash?
Bagels wrote:
pay with credit card to get the rewards


Image
Author:  Douchebag [ Thu Sep 08, 2016 10:34 am ]
Post subject:  Re: buying a new car with cash?
shakes wrote:
Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.

Buy a real car that doesn't make you look like a burrito.
Author:  Brick [ Thu Sep 08, 2016 10:39 am ]
Post subject:  Re: buying a new car with cash?
Also, the correct answer about paying with cash when they ask is "I am open to financing but I can also pay cash". They will offer you their best rate afterwards.

At least with my salesman he didn't care at all about financing as he didn't make any money if it was financed or not.
Author:  Kirkwood [ Thu Sep 08, 2016 10:43 am ]
Post subject:  Re: buying a new car with cash?
for a down payment use your credit card. that's free rewards. they'll put a ceiling on how much you can put on your cc.

go in with pre-approved loan amounts/rates. they'll work to beat them.

get a jeep liberty. given your overall bitchy demeanor and female physique it'll suit you well.
Author:  Minooka Meatball [ Thu Sep 08, 2016 10:47 am ]
Post subject:  Re: buying a new car with cash?
:lol:


FWIW, we just traded in a 2002 Hyundai Sante Fe V6 with 198,000 miles on it - about 120,000 miles after it was t-boned. Never had any issues that weren't standard wear and tear, so if the new ones are anything like that...
Author:  Hank Scorpio [ Thu Sep 08, 2016 10:51 am ]
Post subject:  Re: buying a new car with cash?
Minooka Meatball wrote:
:lol:


FWIW, we just traded in a 2002 Hyundai Sante Fe V6 with 198,000 miles on it - about 120,000 miles after it was t-boned. Never had any issues that weren't standard wear and tear, so if the new ones are anything like that...


I've also heard good things about the Santa Fe and Hyundai in general.
Author:  Seacrest [ Thu Sep 08, 2016 10:51 am ]
Post subject:  Re: buying a new car with cash?
shakes wrote:
Looking to get a new car, time to replace the 2011 Terrain that has 102,000 miles on it and feels like its on its last legs every time I drive.

I've been fortunate enough at work recently where I can afford to buy a car in full rather than finance.

Has anyone done this before? If so, any tips for negotiating? I've been reading some articles and they say to not tell the dealer you are paying cash until you settle on a price because the dealers make less money if you pay cash and they will factor that into the negotiations.



Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.


Do NOT pay it off in cash. Write a check. The feds will look at you for paying cash. You don't want the scrutiny.

We have had good luck with a 2013 Murano we bought with 10K miles. The design of it is newer now and looks somewhat like a Range Rover.

We also received 0% interest on our used Murano. See what financing incentives they are currently offering.

If you want to pay it all up front, then do what others have said and negotiate the price you want before discussing financing.
Author:  IMU [ Thu Sep 08, 2016 11:02 am ]
Post subject:  Re: buying a new car with cash?
Ford Edge is a great SUV. And Ford is practically a European auto manufacturer these days.

Other than that, the Santa Fe and the range of Mazda SUVs / Crossovers are decent. Sportage and Sorento also.
Author:  Brick [ Thu Sep 08, 2016 11:08 am ]
Post subject:  Re: buying a new car with cash?
For SUVs it is much more important to know exactly what you want. Do you want a third row? Do you want a crossover or not? How important is trunk space?

What seemed to be the case was that the bigger it got the more you wanted an American SUV and the smaller you got the more you wanted a foreign one.

The luxury ones are mostly all really good and it is more personal preference.
Author:  denisdman [ Thu Sep 08, 2016 11:08 am ]
Post subject:  Re: buying a new car with cash?
Dealers love when you finance. They typically make money off the financing, but more importantly, they love to negotiate with you on payment rather than price.

First place they get you:

What are looking to pay in terms of a monthly payment? You answer, "$250/month." Their response, "up to?" They set you up for a payment that is modestly above your top end. Even at $25 more per month, a $275 payment, you are already paying $1,500 more in purchase price over 60 months. Leases are much worse because most people can't calculate a lease payment off a purchase price and lease factor.

Even at 0% interest, I recommend paying in cash if you can swing it. Here is why.

Paying in cash vs. a payment is what financial people call an opportunity cost. If you take the money you would have used to pay in cash, and then invest it in something prudent, great for you. But that is not what the typical person does. They burden himself with the payment, and take the cash and end up spending it on something else. In pure economic terms, it is much better to take the loan at 0% and keep the cash, but human behavior disrupts what is otherwise a smart financial maneuver. In today's environment it is even worse because you can't find many safe investments that pay any significant amount of interest.

What you could do is trade off debt. If for instance you have a home loan at 4%, you could use the cash to pay off a portion of the house and lock in the 4% interest savings. Then take the zero interest car loan.
Author:  Drake LaRrieta [ Thu Sep 08, 2016 11:24 am ]
Post subject:  Re: buying a new car with cash?
My car mechanic recommends Car Max if you're looking at a used car other than a private party. I think the dealers always pretty much screw people over every time. A zero interest loan is a good deal though and you can make extra payments and pay the car off in a year or two instead of three or four. I pretty much just stick with used cars because you pay less money to the Secretary of State on the car, car insurance is cheaper, typical mechanic repairs are under $2,000 a year and you may get back a higher percentage of what you paid for the car if you resell it.
Author:  Psycory [ Thu Sep 08, 2016 11:25 am ]
Post subject:  Re: buying a new car with cash?
Cashman wrote:
shakes wrote:
Looking to get a new car, time to replace the 2011 Terrain that has 102,000 miles on it and feels like its on its last legs every time I drive.

I've been fortunate enough at work recently where I can afford to buy a car in full rather than finance.

Has anyone done this before? If so, any tips for negotiating? I've been reading some articles and they say to not tell the dealer you are paying cash until you settle on a price because the dealers make less money if you pay cash and they will factor that into the negotiations.



Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.



Take out a loan so he gets his commission, and then pay it off in full.


This, also because you will get a better price possibly. However, check the fine print and make sure you can pay it off w/o penalty.
Author:  hnd [ Thu Sep 08, 2016 11:25 am ]
Post subject:  Re: buying a new car with cash?
cars is one of the only places where cash isnt king sometimes. i generally buy vehicles cash. dont' mention financing until the deal is done. and only talk out the door numbers. buy at the end of the month, and the best month to buy is january. nobody is buying cars in january as they are maxed out from christmas and its shitty out.

10 years ago (the last time we bought a vehicle) we talked a honda odyssey down from 22k to 17k at the end of january. i told them my price was 16. they went down to 18. i walked away. they called the next morning said 17.
Author:  shakes [ Thu Sep 08, 2016 11:53 am ]
Post subject:  Re: buying a new car with cash?
lots of good advice in here, thanks guys!
Author:  Brick [ Thu Sep 08, 2016 11:56 am ]
Post subject:  Re: buying a new car with cash?
Kirkwood wrote:
get a jeep liberty. given your overall bitchy demeanor and female physique it'll suit you well.
I just realized this was a shot at Seacrest.
Author:  good dolphin [ Thu Sep 08, 2016 1:11 pm ]
Post subject:  Re: buying a new car with cash?
Seacrest wrote:
shakes wrote:
Looking to get a new car, time to replace the 2011 Terrain that has 102,000 miles on it and feels like its on its last legs every time I drive.

I've been fortunate enough at work recently where I can afford to buy a car in full rather than finance.

Has anyone done this before? If so, any tips for negotiating? I've been reading some articles and they say to not tell the dealer you are paying cash until you settle on a price because the dealers make less money if you pay cash and they will factor that into the negotiations.



Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.


Do NOT pay it off in cash. Write a check. The feds will look at you for paying cash. You don't want the scrutiny..


They look at any payment over 10K. Under 10K and the owner of that dealership is probably putting it in his pocket and not declaring the income.
Author:  a retard [ Thu Sep 08, 2016 7:29 pm ]
Post subject:  Re: buying a new car with cash?
Drake LaRrieta wrote:
My car mechanic recommends Car Max if you're looking at a used car other than a private party. I think the dealers always pretty much screw people over every time. A zero interest loan is a good deal though and you can make extra payments and pay the car off in a year or two instead of three or four. I pretty much just stick with used cars because you pay less money to the Secretary of State on the car, car insurance is cheaper, typical mechanic repairs are under $2,000 a year and you may get back a higher percentage of what you paid for the car if you resell it.


Boilermaker Rick wrote:
For SUVs it is much more important to know exactly what you want. Do you want a third row? Do you want a crossover or not? How important is trunk space?

What seemed to be the case was that the bigger it got the more you wanted an American SUV and the smaller you got the more you wanted a foreign one.

The luxury ones are mostly all really good and it is more personal preference.


These have both worked for me. I have bought 2 or 3 cars at carmax and had no regrets. However last summer I bought a used Highlander at Hertz car sales. When I started looking around I found it less expensive than car max. I made a list of all the features I wanted and then just kept checking the rental car sales sites until I found the one I wanted. Like carmax, no negotiation and I paid cash (well, wrote a check). I love the vehicle and I am glad I kept looking for just the one I wanted.
Author:  leashyourkids [ Thu Sep 08, 2016 7:48 pm ]
Post subject:  Re: buying a new car with cash?
Shakes,

We just got a new Nissan Murano for my wife (2016). It is a great vehicle. Good mileage, good safety rating, spacious, and it's just a sleek-looking ride. Big fans here.

I feel like Scorehead, but whatever. Fuck you guys.
Author:  Nas [ Thu Sep 08, 2016 8:33 pm ]
Post subject:  Re: buying a new car with cash?
shakes wrote:
Looking to get a new car, time to replace the 2011 Terrain that has 102,000 miles on it and feels like its on its last legs every time I drive.

I've been fortunate enough at work recently where I can afford to buy a car in full rather than finance.

Has anyone done this before? If so, any tips for negotiating? I've been reading some articles and they say to not tell the dealer you are paying cash until you settle on a price because the dealers make less money if you pay cash and they will factor that into the negotiations.



Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.


If you know someone with a dealers license have them take you to an auction.
Author:  SomeGuy [ Thu Sep 08, 2016 8:57 pm ]
Post subject:  Re: buying a new car with cash?
shakes wrote:
Looking to get a new car, time to replace the 2011 Terrain that has 102,000 miles on it and feels like its on its last legs every time I drive.

I've been fortunate enough at work recently where I can afford to buy a car in full rather than finance.

Has anyone done this before? If so, any tips for negotiating? I've been reading some articles and they say to not tell the dealer you are paying cash until you settle on a price because the dealers make less money if you pay cash and they will factor that into the negotiations.



Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.



So you, uh, have it regularly serviced and stuff?
Author:  Bagels [ Fri Sep 09, 2016 7:42 am ]
Post subject:  Re: buying a new car with cash?
buying a new car with no dash ?
buying a new car with hash ?
buying a new car with a rash ?

see i showed restraint unlike you Coke & Walmart people
Author:  312player [ Fri Sep 09, 2016 9:41 am ]
Post subject:  Re: buying a new car with cash?
Nas wrote:
shakes wrote:
Looking to get a new car, time to replace the 2011 Terrain that has 102,000 miles on it and feels like its on its last legs every time I drive.

I've been fortunate enough at work recently where I can afford to buy a car in full rather than finance.

Has anyone done this before? If so, any tips for negotiating? I've been reading some articles and they say to not tell the dealer you are paying cash until you settle on a price because the dealers make less money if you pay cash and they will factor that into the negotiations.



Also, anyone have any opinions on mid size foreign non luxury SUV's? Like the Nissan Murano? I'm never buying american again and don't want anything too fancy due to the way I treat cars.


If you know someone with a dealers license have them take you to an auction.






Lotta shitboxes at auctions, dealers that take junk in trade ins run em through there because they don't want some guy standing in front of their dealership with a sign that says " this guy sold me a car with a cracked block or ran trans x through it to swell the Seels for a month" .
Author:  312player [ Fri Sep 09, 2016 9:43 am ]
Post subject:  Re: buying a new car with cash?
If I had dough I'd buy a Audi SUV like a q7, consumer reports loves em...if I was on a budget I'd get a KIA Sorrento or a Santa fe..
Author:  312player [ Fri Sep 09, 2016 9:45 am ]
Post subject:  Re: buying a new car with cash?
IMU wrote:
Ford Edge is a great SUV. And Ford is practically a European auto manufacturer these days.

Other than that, the Santa Fe and the range of Mazda SUVs / Crossovers are decent. Sportage and Sorento also.





The Edge is ridiculously overpriced
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