What kind of deal can I expect when buying a new car and I have $15,000 cash?

Question

I have recently come upon $15,000 cash and need to buy a new car. I do NOT want to finance. Has anyone out there ever out right purchased a car with cash? Do you think a dealer will work with me on a 16k 17k or even 18k car?

Answer 1

Car dealers don't care much if you have cash.  They make money on the sales and/or loan (interest).  Remember that IRS requires them to report cash sales of cars, so many people don't bother handing over cash - so they really don't care that much.

You just have to be willing to walk out of a deal for them to want to come down.  It also helps if you get lucky and walk in on their slow week and they are trying to meet sales goals.

Good Luck...

Answer 2

Invest you money in the market, a new car will depreciate 50% of more in three years, you 15k will appreciate over 30% in 3 years. Yo uwouldnt give me 15000 and in 3 years expect 7500 would you. Finance the car, look for 2.9% financing Honda, Toyota will work, in 5 years you could have 30k in the bank and your new car you bought 5 years ago, 2,000.

This is Finance 101, heed the advise.

Answer 3

15,0000 cash lol...

ill "walk out the door" with a 2004 bmw 530i with under 35k and a possibility of it being Black on Black.

Answer 4

I recently bought a car cash.  Well...I suppose not exactly cash...I wrote them a check.  They were not impressed.  They wanted to finance it.