Going into dealership with Cash - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

tmac1granger33 · 12-27-2009, 10:59 PM

hey guys when I sell My charger I might be able to go into a dealership with 20 thousand cash. Im looking at an LS with auto tranny Ive seen some online for around 22k. Basically do dealerships bite on cash Im guessing not. Can you go in And say Ill give you guys 20k cash for this car?

Im 18 no credit or cosigner FYI. Do you think Ill be financed for the other 4 thousand cash from my credit union?.I just need that extra push. My cars depreciating in Value

I feel my best bet is to tell my credit union "I have 19 grand i need a loan for 6k!" then I could buy my Camaro!, pay my insurance, buy Some mods! And be able to live my life lol

The times getting closer!...

this is the price I want except in SW. I sure hope a dealer will match this!
http://www.cars.com/go/search/detail...5&aff=national

nUcLeArEnVoY · 12-28-2009, 06:49 AM

Quote:

Originally Posted by tmac1granger33

hey guys when I sell My charger I might be able to go into a dealership with 20 thousand cash. Im looking at an LS with auto tranny Ive seen some online for around 22k. Basically do dealerships bite on cash Im guessing not. Can you go in And say Ill give you guys 20k cash for this car?

Im 18 no credit or cosigner FYI. Do you think Ill be financed for the other 4 thousand cash from my credit union?.I just need that extra push. My cars depreciating in Value

I feel my best bet is to tell my credit union "I have 19 grand i need a loan for 6k!" then I could buy my Camaro!, pay my insurance, buy Some mods! And be able to live my life lol

The times getting closer!...

this is the price I want except in SW. I sure hope a dealer will match this!
http://www.cars.com/go/search/detail...5&aff=national

Probably not. But there's definitely no reason they shouldn't be able to finance the balance, I'll tell you that much. What the hell would your payment even be? 50 bucks? Go get it, man.

Mr_Draco · 12-28-2009, 08:21 AM

Never tell a salesman you are paying cash for the whole amount until after you agree on a price and get the papers wrote up. The reason, there is no profit in accepting cash and they are a lot less willing to knock $3,000 off the price if they know you are paying cash then they would if they think you are financing though them.

As for the loan, it shouldn't be a problem. Tell them you are buying a new car and paying cash and only need $4-$6k to pay the rest. You'll get the loan because if you default, the car and your $20k becomes theirs. It's a win-win for the bank.

Al Robinson · 12-28-2009, 08:27 AM

Quote:

Originally Posted by tmac1granger33

hey guys when I sell My charger I might be able to go into a dealership with 20 thousand cash. Im looking at an LS with auto tranny Ive seen some online for around 22k. Basically do dealerships bite on cash Im guessing not. Can you go in And say Ill give you guys 20k cash for this car?

Im 18 no credit or cosigner FYI. Do you think Ill be financed for the other 4 thousand cash from my credit union?.I just need that extra push. My cars depreciating in Value

I feel my best bet is to tell my credit union "I have 19 grand i need a loan for 6k!" then I could buy my Camaro!, pay my insurance, buy Some mods! And be able to live my life lol

The times getting closer!...

this is the price I want except in SW. I sure hope a dealer will match this!
http://www.cars.com/go/search/detail...5&aff=national

Once you settle on a price they will be asking you for your SSN to check your credit score or they will ask how you are paying for it. Early in the process the subject of your $20k will come up. Just tell them what your intentions are.

Shifty 6 · 12-28-2009, 09:25 AM

Its all cash to the dealership. Even if you finance, the dealer gets paid immediately. Most are set up to actually write the check to themselves, and sign for the bank while they print up the loan contract.

tmac1granger33 · 12-28-2009, 03:35 PM

thanks for the help everyone. Im positive I should get the loan.hopefully

Rogue Leader · 12-28-2009, 03:54 PM

The days of being able to make deals with cash are long gone. They have to report all cash deals to the IRS over $10k anyway. Its all cash to them... and they make money on financing.

jrboyd_1980 · 12-28-2009, 04:15 PM

Quote:

Originally Posted by Mr_Draco

Never tell a salesman you are paying cash for the whole amount until after you agree on a price and get the papers wrote up. The reason, there is no profit in accepting cash and they are a lot less willing to knock $3,000 off the price if they know you are paying cash then they would if they think you are financing though them.

As for the loan, it shouldn't be a problem. Tell them you are buying a new car and paying cash and only need $4-$6k to pay the rest. You'll get the loan because if you default, the car and your $20k becomes theirs. It's a win-win for the bank.

Cash and Financing are the same thing to the dealership. The Banks are the one that make money through financing, Not the Dealership.

StealthMan · 12-28-2009, 04:23 PM

Quote:

Originally Posted by jrboyd_1980

Cash and Financing are the same thing to the dealership. The Banks are the one that make money through financing, Not the Dealership.

Not true..the dealerships do make money on the financing (at least most of them do) as they get a % of the yield on the financing (or a spiff upfront) for placing the loan with a bank they have a relationship with.

Just my 02 cents...

scythezo6 · 12-28-2009, 06:15 PM

Dealerships do make some money off the financing, whether they get cash or money its all the same in terms of money being transfered in time. Pay cash - dealer gets money for the car, finance - the car gets bought from the dealership by the lending bank.

12-27-2009, 10:59 PM	#1
tmac1granger33 NM HT5 Drives: COTW 3/5/12 Join Date: Jul 2009 Location: los lunas, New Mexico Posts: 1,986 View My Garage	Going into dealership with Cash hey guys when I sell My charger I might be able to go into a dealership with 20 thousand cash. Im looking at an LS with auto tranny Ive seen some online for around 22k. Basically do dealerships bite on cash Im guessing not. Can you go in And say Ill give you guys 20k cash for this car? Im 18 no credit or cosigner FYI. Do you think Ill be financed for the other 4 thousand cash from my credit union?.I just need that extra push. My cars depreciating in Value I feel my best bet is to tell my credit union "I have 19 grand i need a loan for 6k!" then I could buy my Camaro!, pay my insurance, buy Some mods! And be able to live my life lol The times getting closer!... this is the price I want except in SW. I sure hope a dealer will match this! http://www.cars.com/go/search/detail...5&aff=national

12-28-2009, 03:54 PM	#7
Rogue Leader Iatefiberglassinsulation Drives: 2010 Camaro 2SS M6 Join Date: Oct 2008 Location: Long Island Posts: 3,601 View My Garage	The days of being able to make deals with cash are long gone. They have to report all cash deals to the IRS over $10k anyway. Its all cash to them... and they make money on financing. __________________ 2010 Chevrolet Camaro SS - was daily driver, now toy 2020 Alfa Romeo Giulia Quadrifoglio - Daily Driver 2017 Mercedes Benz GLE 350 - Wifes Car 2008 Chevy Silverado 2500 HD LT 6.0 - Tow Vehicle 1991 Alfa Romeo 164S - Project Car 1994 Volkswagen Golf - Race Car "Like" my race team on Facebook: http://www.facebook.com/farfrumwinnin

12-28-2009, 06:15 PM	#10
scythezo6 Virologist in the making Drives: 2010 VR SS/RS LS3 Join Date: Aug 2009 Location: El Paso TX Posts: 2,865	Dealerships do make some money off the financing, whether they get cash or money its all the same in terms of money being transfered in time. Pay cash - dealer gets money for the car, finance - the car gets bought from the dealership by the lending bank. __________________ Victory Red 1SS/RS Ordered - 8/4/09 & Joined Camaro5.com family 6000, Delivered to the customer - 12/21/09

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12-28-2009, 08:21 AM	#3
Mr_Draco Drives: 2SS/RS Join Date: Sep 2008 Location: Western North Carolina Posts: 7,186	Never tell a salesman you are paying cash for the whole amount until after you agree on a price and get the papers wrote up. The reason, there is no profit in accepting cash and they are a lot less willing to knock $3,000 off the price if they know you are paying cash then they would if they think you are financing though them. As for the loan, it shouldn't be a problem. Tell them you are buying a new car and paying cash and only need $4-$6k to pay the rest. You'll get the loan because if you default, the car and your $20k becomes theirs. It's a win-win for the bank.

12-28-2009, 09:25 AM	#5
Shifty 6 Drives: 2010 GTI Join Date: Jun 2008 Location: Morton, IL Posts: 679	Its all cash to the dealership. Even if you finance, the dealer gets paid immediately. Most are set up to actually write the check to themselves, and sign for the bank while they print up the loan contract.

12-28-2009, 03:35 PM	#6
tmac1granger33 NM HT5 Drives: COTW 3/5/12 Join Date: Jul 2009 Location: los lunas, New Mexico Posts: 1,986 View My Garage	thanks for the help everyone. Im positive I should get the loan.hopefully