What Happens When You Pay Cash for a Car (Most People Don't Realize This)

Comments · 165

• RY

  @RyanFinanceUS · 1 month ago · pinned

  Think buying the car is the expensive part?<br>Wait until you see what happens to your finances after you drive it off the lot.<br>👉 Watch the next video: POV: Your Life 6 Months After You Stop Avoiding the Number - <a href="https://www.youtube.com/watch?v=uVoX8-Gt_ZY">https://youtu.be/uVoX8-Gt_ZY</a>

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• CA

  @catnhat1117 · 1 month ago

  I have only ever bought used vehicles, and have always paid cash. I hate debt.

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• TI

  @TimHoskinson-iq1op · 1 month ago (edited)

  I always pay cash for my cars. &nbsp;My last experience was a massive pain. &nbsp;I buy used, normally about a year old and under 10k miles. &nbsp;The 1st dealer I went to had a price I liked for the car I wanted. &nbsp;They focused on the payments. &nbsp;When I insisted on cash, they couldn’t hide anything. &nbsp;It was almost 10k more. &nbsp;They were pushing paint protection, fabric protection, nitrogen tires and more. &nbsp;Told them I didn’t want that crap. &nbsp;The sales guy kept wasting my time and running back to the office. &nbsp;Last trip, I bailed out the side door. &nbsp;A week later, different dealer, similar car. &nbsp;Talked to them on the phone, told them I would pay advertised price, not a penny more. &nbsp;No games. &nbsp;Went in, drove out about 2 hours later with new car. &nbsp;Being willing to walk and not get emotional is the best weapon you have.

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• BE

  @beemankunkel · 1 month ago

  I agreed to the out the door price on a truck and told the salseman I didn&apos;t want to be up-sold on extended warranties, paint treatments, etc. &nbsp;As soon as the salesman launched into the up-sale items I walked. &nbsp;They were pissed and I laughed my ass off.

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• BO

  @Bobrogers99 · 1 month ago

  When I went to my local Subaru dealership to trade for my third one, the salesman said they&apos;d just wholesale my trade in and offered a ridiculously low amount, so I walked out and drove to Toyota. &nbsp;I bypassed the salesmen and went to the old guy at the big desk in the bay window, told him what I wanted, drove a RAV4, and then he handed me over to &quot;the negotiator&quot;, who was an obnoxious parody of a car salesman. &nbsp;That guy kept pressing for extras and eventually I walked out. &nbsp;When I got home I felt bad for the old guy, so I called him. &nbsp;&quot;What do you want for a deal?&quot; he asked. &nbsp;So I told him I wanted a 12% discount from the sticker and $500 less than the Blue Book value of my trade. &nbsp; He called me back ten minutes later and said, &quot;Your car will be ready Friday&quot;. &nbsp;That was 12 years ago and I&apos;m still driving it. &nbsp;I paid cash.

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• CH

  @christinemarie6976 · 1 month ago

  What pissed me off was that purchasing with cash STILL takes a couple of hours to complete.

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• PO

  @POVRankUp · 1 month ago

  Paying cash sounded like the ultimate power move, but watching the dealer lose interest and push all those extras was really eye-opening. Great story!

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• CH

  @charlesjoseph9229 · 1 month ago

  Do not mention you want to pay cash UNTIL you have the out the door price established. <br>Be ready to walk if you have any doubts.<br>Buy low mileage used if you can and let someone else pay the biggest depreciation.<br>Choose a vehicle you will still be happy with in five years, seven years, ten years…

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• LO

  @Love2Cruise · 1 month ago

  <a href="https://www.youtube.com/watch?v=n4d9Bc_PP70&amp;t=385">6:25</a> That exact situation happened to us 10 years ago. &nbsp;That car had a $1500 finance rebate if we financed with the manufacturer&apos;s financing arm. &nbsp;APR was over 7%, but no early repayment penalty. &nbsp;We signed up for a 60-months loan. &nbsp;Paid it off after a month. &nbsp;Paid less than $100 in total interests.

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• TH

  @ThaSouthMU · 1 month ago

  My first vehicle was the only car I ever financed and haven’t done that since, and that was 2005. 😅

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• SA

  @sarahrose3877 · 1 month ago

  We always pay cash but we never say that until a deal has been reached. Financing gives the dealership more money, so they will give you a better deal.

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• GE

  @Gender404 · 1 month ago

  Watch for rules on paying off the loan early or paying more per month. You can drastically reduce the interest on the loan by over paying or paying it off early.

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