How to get a good deal on buying a car with cash?

Question

I would like to purchase a vehicle with cash and I want to get the best deal I can get, what technique should I use to get what I want. Also because I currently have this money in the bank and I'm looking to purchase a vehicle for more than $10,000's, what is the process of withdrawing this amount of money from my bank?

Answer 1

The method of payment should be the last thing discussed (if buying from a dealer).  As far as the bank goes...have them cut you a cashier's check instead of getting cash.  That way, if the check is lost or stolen, the bank can stop payment on the check and your money will be safe. Good luck on your purchase.

Answer 2

Get someone to go with you that knows how to deal with them.

After you find the car you want, bring the money with you, let them see it, and pay nothing less than 75% of what thier price was.

Answer 3

Tell the car dealer to take off all the unnecessary fees, such as dealer fees. I think the bank might have to put a hold on a withdrawal of an amount over 10,000 dollars so it may take up to a week for the check to be cleared

Answer 4

If you can afford to pay that much in cash for a car, you should go to a car auction where you can get a cheaper deal than you would at a dealership. They usually ask for cashier's checks from you bank.

Answer 5

Never show emotion.

Tell them you pay cash in full.

Take the MSRP of the car/cars new or used.

Multiply by 70% that would be the wholesale price of the car.

Multiply that by 112.5% (that would be 12.5% for the dealers overhead and profit)

And there you have the best price that you could buy a car from a dealer for..................

What I do is write the number (my price) on a business card and tell them if they want to sell the car or truck call me.

I have bought over a dozen cars some for myself as well as friends and it works every time.

Remember dont show emotion and you may have some salesman tell you that you are crazy - but dont listen just give them the business card or scratch paper with your number and price and tell them to call you if they want to sell.

What you are doing is breaking into the holdback profit that the manufacture pays the dealer. The invoice is a charade

dont believe the salesman that your price is under invoice.

Just give him your number and tell him to call.

try it. !

If you are buying a used car just find the MSRP for that make and model of that year and do the math as above but also reduce the price buy .40 cents per mile that is on the odometer.

It works with any car, any year and any make.

Some here say this will never work but I assure you I have done it many times.

Cash is king here and it is saying that no one has to do the finance paperwork and dealers are looking for volume as this lowers their overhead.

With this technique you are chopping at the holdback profit that manufactures pay the dealer to sell cars.

Dont waiver and go to a few different delers with this technique.

Jock

Answer 6

First of all, dealers do not care if a customer has cash or financing for a car. (They actually prefer finance) So leave the money in the bank, go find a car and work the deal, give them a deposit, then go to the bank and get a cashiers check for the correct amount. (The art of the negotiating is not about the cash)