[KenB925]

Originally Posted by le1999

Thanks for the responses gents.

I'm thinking of throwing 15-20k on a credit card vs down payment (then pay it off) so I can get the cash back / miles. Was curious if anyone had similar ideas.

I am planning on leasing (business purposes), but I like putting the down payment on the credit card idea.

[FLYNNZL1]

Originally Posted by mlee

They offered me 2.1% and hindsight I probably should have taken it. I just don't like to go anywhere but USAA.

I like your idea but wouldn't USAA jump to 2.99 for a used car? Still might work out in the math...

It would still be concerted new, 2016 and 2017 models. I called USAA in the finance guys office , he suggested to do what I did, I guess there are some cool finance guys You can't go wrong with USAA anyways, plus we have baddass cars

[Squatch]

My brother pays cash for everything, recently bought a truck for 25k...nothing like seeing 25 sandwich baggies each with 1k in it. looks like something out of a movie.

[FLYNNZL1]

A kid (like early 20's) paid cash for a Special ED Grand sport last week at my dealer, maybe that kid is a dealer or a internet Startup

[GarnetRedJuan]

Originally Posted by Squatch

My brother pays cash for everything, recently bought a truck for 25k...nothing like seeing 25 sandwich baggies each with 1k in it. looks like something out of a movie.

You would think dealerships would be used to that kind of thing.

Imagine seeing the face of a private seller when you show up with that figure in cash. Let's just say, your negotiation power increases immensley.

[FLYNNZL1]

Cash to a dealer is not as good as financing, they make more of a financed buyer than a cash buyer. If you are a cash buyer, don't tell the dealer until the finance guy, even then you can get your price down lower sometimes buy financing, then paying it off a month later, just read the fine print on the deal.

[OminouSS]

Originally Posted by thompstl1

I agree with you in principle, but there are times when debt is the preferred alternative (for some anyway).

Debt for vehicles and homes could be two exceptions for the disciplined borrower. Assume my car loan is 3.8%, I should be able to make significantly more interest on invested cash wisely invested. Same with a home (2.8%), plus the interest is tax deductible on the home.

Anyways, something to think about!

The theory here is sound. Every percent made in investment interest, every dollar saved in purchase interest, every tax dollar saved in write offs. It all adds up on a purchase this large. The swing can be thousands of dollars in your pocket.

That said, I wrote a personal check for $69,000 and drove my car home. Guess I have a trustworthy face.

[le1999]

Originally Posted by OminouSS

The theory here is sound. Every percent made in investment interest, every dollar saved in purchase interest, every tax dollar saved in write offs. It all adds up on a purchase this large. The swing can be thousands of dollars in your pocket.

Agreed OminouSS.....

All good comments/suggestions guys, much appreciated.

It was more a question of what is the smartest way of buying it, not how do you afford it. When making a purchase this large, I like to weigh the pros and cons of cash/vs. finance, or combination of, then trying to figure out a way to get points, cash back, etc while taking advantage of every available GM rebate, etc.

Again, thanks for all the replies.

[Tara Martin]

In my case, I'm trading in my '16 1SS and laying down a good down payment. The remainder, I'll finance. I intend to pay off that loan fairly quickly. I'm mainly financing to maintain some credit history. I bought the '16 1SS outright last year and have title in hand for the trade in.

Tara

[ruthe006]

Originally Posted by mlee

They offered me 2.1% and hindsight I probably should have taken it. I just don't like to go anywhere but USAA.

I like your idea but wouldn't USAA jump to 2.99 for a used car? Still might work out in the math...

So just to make sure I understand, GM offered you below the 3.9 @ 60mo? So they can go lower if they choose?

[hotlap]

I asked Becky/Rodgers to find me the best rate possible with $20k down. I ended up with 1.89% for 60 months from Bank of America. I'll pay it in 48 months.

Becky/Rodgers was a true no BS buying experience. The purchase price discount under MSRP, trade value for my 13 ZL1 and financing were all spot on with no haggling.

[datboi448]

I really should show up with a dump truck full of pennies