You should NEVER pay cash at a car dealership if you want the best deal! This video explains why…
If you’ve saved up money to buy a car in cash, congrats, that is a GOOD thing!
However, most people think that paying for a car with cash is actually a negotiating chip when it’s not.
Dealerships are not incentivized in ANY way for you to pay cash for their car (other than kickbacks and sales bonuses from the manufacturer).
You paying cash will actually result in you potentially paying MORE for the car!
Watch until the end to hear how I prefer to buy cars!
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DON'T PAY CASH AT CAR DEALERSHIPS! (Here's Why)
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DON'T PAY CASH AT CAR DEALERSHIPS! (Here's Why)
finance or buy a car
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25 comments
Do you pay cash for cars, or do you finance and invest the difference?
You don’t save very much money.
When buying a car from a private party your first question should be "Is the car registered in your name?", followed by "Can I see the title?". You want to make sure the person selling the car owns it and it isn't a salvage title. In my state AZ, it's also important to buy a car with a fresh emissions certificate since you cannot register a car without it and emissions repairs can cost hundreds or thousands of dollars.
Dude! God bless you man! This video here is so helpful!
The problem with paying off a "car loan" regardless of no early payoff penalty is, if the loan is a simple interest loan you pay the full term interest no matter what. So there's no advantage for the early payoff, actually the bank wins because they don't have to wait for your money and get their full fee anyway.
but what if you don't want to take a loan and you actually wanna buy it cash which was the point of the video LMAO.
awesome, thanks
Another strategy when going to a dealer to buy a car: The financial manager will push for extender or gap warranties, if you really want the car buy these and then cancell them within 3 days which is the grace period for such contracts. Just in case, ask about the cancellation period before you sign the contract. I buy from dealers when looking for a Certified vehicle.
Get a car concierge–a good one.
Thanks Marko. You've been a big help for me in choosing to buy a car (pros and cons) from a person or in a dealership. Well explained.
All good until you get to x-ing out fee 1 and fee 2 you, and nobody else explains "how" to dispute this. Seems easy for you to say. I've tried this and the dealer has told me to go away. They don't give a shit. Pound sand dude. This doesn't work in the real world. I've done all of this and was just like they don't care even a little. Your video is worthless. Where is the video of you doing any of this at a dealer?
Not only are the extended warranties never used, 100% of them are never honored.
Put 50 percent down and take out a 3 year loan and then pay off the loan after 3 months with your cash you always had. The sales guy I think doesn't even get commission if the loan doesn't go past 3 months or so I have been told. I'm not a big fan of salespeople in general.
I always pay cash but I never reveal how I'm paying until the transaction is close to be completed.
Hi, I totally agree with you regarding buying a vehicle from a private individual. It does save you time and all the negotiating you have to do with car salesmen. By the way, I'm looking to buy a Toyota Highlander between 2017 – 2019 model years. Do you happen to know of Toyota forum? Thanks!!! 😊
who the rats ass is going to remember all this and do it all smoothly when going to buy a car"?.
Great info. I've had an extended warranty on every new car I've owned and they all payed for themselves! Example, I had a 2001 Corvette Starting at 80,000 miles I had a domino effect of failures. The ECU died, then the A/C compressor went out and last but not least, severe piston slap which resulted in a bottom end rebuild. All covered under the EXTENDED warranty! Then again I put a lot of miles on my cars.
I wonder if this would work at a dealership now a days they have nothing at the lot now so they don't care if you buy it or not since there is not enough cars to meet demand
Private party in 2021 more expensive than some dealers.
Outro song?
I let them think they are going to get a buttload of money on the back end.
Get the good sale price.
Then i will either change my mind and pay cash… or just pay the loan off with the first check.
You just make sure there is no prepayment penalty.
I been saving up and got enough to pay off a new car entirely now. Would that be any different than paying them cash for down payments and other fees with it?
Great advice about paying cash.done it myself
The trouble with your advice about about buying from a,private party is this seems to be a business for you
Like any other business you know, the in and outs..most people dont.you make sound simple and its not!I bought car privately and sold one.
Both times there was hassle involved. in ended up not being worth it.
Making sure the ownership, registration
All the stuff is in order. Going to motor vehicles .could go on and on .
Unless your getting the deal of the century. Its not worth the aggravation.
Trust in our Lord Jesus christ in all things!!! 🙏
Very informative video. About three years ago, I bought a new closeout Harley-Davidson motorcycle. I told the finance person I wanted to pay cash and they kept questioning me about me not financing and I couldn't figure out why.