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Cars We Drive! - Page 1606

post #24076 of 26333
Eh, that's still way cheaper than buying any sort of super car, right? That's my only point.

I've seen builds with forged blocks etc, those start going way up in price.
post #24077 of 26333
207 block is strong enough, building a reliable street car, not a drag car. 11sec quarter mile is fine. If it never lets me down.
post #24078 of 26333
Buying a used (CPO) car at a dealer (new), what are some good negotiation tactics if you're a cash buyer? It's been a while...
post #24079 of 26333
Know that you have the power, and be ready to walk away. Waiting is harder on them than you
post #24080 of 26333
Quote:
Originally Posted by bawlin View Post

Buying a used (CPO) car at a dealer (new), what are some good negotiation tactics if you're a cash buyer? It's been a while...

 

The internet has really brought prices down on used cars so usually there is a thin margin the dealer is working with.  They make their money financing cars so you may be able to do that then pay off the loan in a month.  I was going to buy my Outback in cash but the financing was dirt cheap and would have been more expensive if I ever needed to borrow cash in the next 5 years.  Over the life of my Outback, I will pay something like $450 in interest which I look at as insurance on possibly needing the funds.

 

I should also note I earn interest on the money in my bank account which I use to offset the interest expense of the auto loan.

post #24081 of 26333

I agree with jbarwick.  I bought used (not CPO) but they really like you to finance through them.  You can always just pay the loan off in the first month.

post #24082 of 26333
Remember you don't have to use their finance company either, you can shop around
post #24083 of 26333
Solid advice on CPO/used cars at dealers. Although, with financing rates where they are (assuming your credit isn't in the gutter), I don't think I'd pay the car off outright in a month.

You can always keep that option on the back burner and invest the money in the mean time. I'm financing my next car for that very reason.

Shopping around is likely better on a new car. On the margins that used cars have, they have a huge incentive to shove you through the internal route. Just make sure there isn't an early payoff penalty.
post #24084 of 26333
The best leverage you have is when you have multiple dealers competing for your business for the same car. Obviously that becomes a lot more difficult for a used car. That plus I'm assuming you're getting a high performance luxury car.

I would find comparable prices online and use those as starting points. Have a firm price you won't budge from and literally walk away if you're willing to stick to it.

And + 1 on financing when interest rates are cheap. Invest the capital elsewhere and make dat gains.
post #24085 of 26333
Although I agree with financing being extremely cheap, the argument of any bank interest offsetting interest cost has long since sailed, unless you are holding some other investment that generates a return. In shopping for a new A6, they offered 1/2% interest on the lease, why not take the "free" funds.
post #24086 of 26333

Just an FYI to anyone with a carfax account or looking to get one. The unlimited one is only unlimited if you're running plate numbers, not VIN's. If you message/chat with them and tell them that you weren't aware of that or need more VIN searches, they'll add them to your account. They gave me 25 more no questions asked. The account comes with 5.

post #24087 of 26333
Why do people continue to think if they're a cash buyer this will somehow yield an improved deal?
post #24088 of 26333
Quote:
Originally Posted by Piobaire View Post

Why do people continue to think if they're a cash buyer this will somehow yield an improved deal?

You're putting words in my mouth. I mentioned that because I know the finance department is where dealers make their money.
post #24089 of 26333
So don't tell them you have cash until the end of negotiations.
post #24090 of 26333
Quote:
Originally Posted by bawlin View Post

You're putting words in my mouth. I mentioned that because I know the finance department is where dealers make their money.

Then, as others have said, don't tell them you have cash is the best way to leverage that. I really don't think one can read this in too many ways though:
Quote:
Buying a used (CPO) car at a dealer (new), what are some good negotiation tactics if you're a cash buyer?

If that's not what you meant, fair enough, but that's sure how it reads.
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