Financing question
Club Member
Joined: Jul 2014
Posts: 11,460
Likes: 3,554
From: Idaho
Generally speaking, and we all know about "generalities" right?...you will get a better deal if you finance. Paying cash hurts your bargaining power, because the dealer loses their profit on the financing.
Intermediate
Joined: Jun 2017
Posts: 48
Likes: 9
From: nc
If you have cash and want the best deal, finance it through the dealer then pay it off when the loan books with the finance company. Yes, you'll pay small doc fees to the finance company but they're nothing compared to what you will save through the deal and potential interest. No banks that I know of that are paying more interest on their savings accounts than they're charging on their loans. Just saying......
Club Member
Joined: Jul 2014
Posts: 11,460
Likes: 3,554
From: Idaho
If you have cash and want the best deal, finance it through the dealer then pay it off when the loan books with the finance company. Yes, you'll pay small doc fees to the finance company but they're nothing compared to what you will save through the deal and potential interest. No banks that I know of that are paying more interest on their savings accounts than they're charging on their loans. Just saying......
He said all I need to do is finance the purchase, and wait 3 months, and then write the check and pay off the loan. The dealership wins, and I win. Then he said he'd kick in a $500 gift card. Done.
More than one way to skin a cat.
Elite HDF Member
Joined: Apr 2006
Posts: 3,948
Likes: 54
From: The Burgh
Yep. I do that all the time when I buy a new vehicle. I take advantage of all the dealer/finance Co incentives and I pay off the loan as soon as I receive the 1st statement.
Thread
Thread Starter
Forum
Replies
Last Post
