Can you get a better deal on a new car if you finance?

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I cannot stand to make payments and pay someone/company interest.

No house pymt, auto, or other type, thank the Lord.

Have a blessed day,

Leon

We do have a a credit card that we pay off each time we use it, and another card that we pay more than the minimum amount to prevent interest being added.

I’m with you. Have not paid a penny interest in over 20 years.
 
I bought my Daughter a CPO Ford Escape a while back. The dealer encouraged me to finance it. When I told them I planned to pay cash, they said they would make $600 on the loan and offered to knock $300 more of the price if I would play along.

Financed about half of the price and paid if off when I got the first statement.

Worked OK.
 
In 2004 I purchased a new Ford F150 4X4 pickup. I was ready to write a check for the negotiated price, then found that I could get another $1000 off by financing with Ford Motor Credit. Let them do the deal, then paid it off the following month.

In 2015 purchased a new Nissan. $1500 off to finance with Nissan Motors Acceptance Corp, but the deal was that I had to make at least 6 monthly payments before I could pay it off. Did the math and it worked out to about $40 per month finance charges, so the 6 months cost me about $240 (to save the $1500).

Look at all the details, do the math, and make your decision accordingly.
 
My first Forester (2014) I financed and paid off as soon as possible. The next three I have paid cash for. No more financing for me. I got my 2018 in Sep 2018 and now have to decide to get a 2019 or wait for the 2020.

Decisions, decisions, decisions.

You make no money with your money in a savings or checking account so why not pay cash for the car?
 
I am flawed, therefore most of my thoughts are flawed. If you've got 25-30K to pay off a car. Don't. Instead finance the thing. That kind of cash could come in handy down the line. You never know. When you drive it off the lot your new car loses 15% of it's new value instantly.
I get the feeling most on this forum are worth more than I so my opinion is probably valueless.
Actually I'm with you JcMack, however, I only pay cash for a "used" vehicle and let someone else eat the depreciation, I don't have to be the first one to fart in the car to make it extra special to me.
 
There are SO MANY factors involved! What is the interest rate? What interest can you get with the money instead of paying for the car up front? What tax bracket are you in? Are they giving you a false sense of savings? What are the restrictions about paying the loan off early if you want o get out of the vehicle? Can you ear lots more financing the vehicle on their dime and investing the money in something else.

Without knowing your financial status, income, age and the exact deal, NO ONE here can give you an honest answer! You need to figure all these things out by talking to your Accountant, Confidant or a close friend or relative who can help you decide what is BEST FOR YOU! Good luck with your new car! :)
 
In my area, Ford is offering 0% financing for 72 months; as I am looking at a full size truck, something like that might sway my selection
 
I was fortunate enough to pay of a vehicle early in life and smart enough to keep making payments to myself. So every three years I trade in and pay cash for a new vehicle.
A couple tricks I use that always works well:
Even though my trade in is paid off, I always tell them I owe a couple grand more than what I hope to get out of it
While they are e the evaluating my trade, I pretend to be interested in the most expensive models they have. I keep this up until I see a trade offer on paper
Now that part of the negotiation is over.
Now I pick out what I want, tell them my payments need to stay below x amount and let them work the deal, adding on whatever extended warranties and dealer preps they want
Now , when I feel they have given me the bottom dollar on the new vehicle, I then say that I will just pay cash, but take off the extended warranties etc.

Another trick is to check all local inventory online and pick a color or option they dont have. Keep saying how important that is and you would rather order one like you want instead of taking the one the have sitting there. They will give you rock bottom price before doing a special order.
 
My father wanted to pay cash for his new truck a couple years ago but ended up financing to get a lower price on the truck. He paid like a month or two than paid the whole thing off, I'm not sure how much he saved after all the other fees and whatnot.
 
I wanted to buy a new pickup a few months ago but I didn't want to pay the stupid high prices. I got on Auto trader and typed in - new pickup truck, automatic transmission, power windows/locks/tilt/cruize, keyless entry, carpeting, chrome steel bumpers, aluminum wheels, four doors, heated mirrors, cloth seats, and trailer tow package. I didn't care what color of truck or brand and was willing to fly anywhere in the US and drive it back to get the lowest possible price. The internet said the cheapest truck in America was right where I live in Oklahoma City! That's weird because prices here are normally much higher than the Dallas/FW area. So I drove to the RAM dealer and they showed me the truck and one other 2018 white truck with 32 miles that also had a touch screen Blue tooth infotainment center with satellite radio and CD player and it was a little more expensive but I didn't haggle and paid the out the door price of $24K and I did have to finance through Chrysler but I should have the truck paid off in a few months.
 
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I finance the car no down payment I use there money not mine. Right now my money is with my broker getting 2.6% rate. Don’t want to touch that.
 
I wanted to buy a new pickup a few months ago but I didn't want to pay the stupid high prices. I got on Auto trader and typed in - new pickup truck, automatic transmission, power windows/locks/tilt/cruize, keyless entry, carpeting, chrome steel bumpers, aluminum wheels, four doors, heated mirrors, cloth seats, and trailer tow package. I didn't care what color of truck or brand and was willing to fly anywhere in the US and drive it back to get the lowest possible price. The internet said the cheapest truck in America was right where I live in Oklahoma City! That's weird because prices hear are normally much higher than the Dallas/FW area. So I drove to the RAM dealer and they showed me the truck and one other 2018 white truck with 32 miles that also had a touch screen Blue tooth infotainment center with satellite radio and CD player and I didn't haggle and paid the out the door price of $24K and I did have to finance through Chrysler but I should have the truck paid off in a few months.

That kind of truck would be twice that where I live.
 
Years ago, I worked at a rural dealership.

Cash is king. Financing a depreciating asset like a new/used car or truck is costly.

The first year depreciation is the worst and can easily be over 20%.

A good money-saving strategy is to buy a 1-year-old certified pre-owned vehicle. These CPO vehicles have taken their biggest depreciation hit and come with an extended warranty.
 
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On my truck which I bought two years ago, I haggled with the dealer and got him down to the lowest price I could by letting them believe they would be financing the vehicle for 6 years. They figured they could make up for the lower price by the interest they would be getting for 6 yeas. I let them set up the whole financing plan and after making the first monthly payment, I paid off the balance of the loan with cash. I made sure there wasn't any pay-off penalties in the contact.
 
One thing has just occurred to me. How big a pain in the neck is it to get the lien from the financing off the car title? When I was working foreclosures I remember how frequently prior mortgages were supposedly paid off but no releases were recorded for them in the Land Records.
 
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