Home | Community | Message Board

World Seed Supply
This site includes paid links. Please support our sponsors.


Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Shop: PhytoExtractum Buy Bali Kratom Powder   Unfolding Nature Unfolding Nature: Being in the Implicate Order   Left Coast Kratom Kratom Powder For Sale   Original Sensible Seeds Autoflowering Cannabis Seeds   Kraken Kratom Red Vein Kratom

Jump to first unread post Pages: 1
OfflineLearyfanS
It's the psychedelic movement!
Male User Gallery


Registered: 04/20/01
Posts: 34,084
Loc: High pride!
Last seen: 12 hours, 13 minutes
Don't say "I'm paying cash" at Car Dealerships
    #26652190 - 05/06/20 05:01 AM (3 years, 8 months ago)

I just happened across this YouTube video today and I thought I'd get The Shroomery's opinion on it.  I have an old car, so I know I'll need to buy a new one sometime soon.  Because I've had my car for so long, I've saved some money because I haven't had a car payment.  So I'm planning on paying for my next car in cash. 

Before seeing this video, I assumed that it was in my best interest to tell a car dealer that I'm paying in cash.  If this guy is right, then that's literally the last thing you want to tell them, because dealerships make most of their money on the car loan, not the car itself.  To paraphrase one of the commenters in this video, "Car dealers don't sell cars, they sell car loans.  The car is a "vehicle" to sell you a loan."

What do you guys say about this?  I have no idea either way, but there's a ring of truth to it. 












--------------------
--------------------------------


Mp3 of the month:  The Apple-Glass Cyndrome - Someday



Extras: Filter Print Post Top
OfflinegeokillsA
∙∙∙∙☼ º¿° ☼∙∙∙∙
Male User Gallery

Registered: 05/08/01
Posts: 23,417
Loc: city of angels Flag
Last seen: 2 hours, 4 minutes
Re: Don't say "I'm paying cash" at Car Dealerships [Re: Learyfan] * 2
    #26653061 - 05/06/20 02:22 PM (3 years, 8 months ago)

There's a reason the major car manufacturers operate their own financial arms to service loans... it's obviously a money maker, especially because it's a secured asset that they can repossess if you default, while they get to rinse and repeat with a new loan or sale.

More importantly however, if you have the cash to buy a car outright, how about skipping the "stealers" altogether and shop around your local used ads so that you can keep more of your money in your pocket, or alternatively trade up to a nicer model?

I bought my first car, a salvage title 1991 Toyota MR2 turbo for $3,000 when I was a teenager.  I still have that car, and while I've had to put another $4,000 into it over the almost twenty years since, it still runs great and it's just a super fun car to sprint around in.  The car has turned into something of a classic, so in its current condition I could actually recoup all my costs if I were to sell it.

In around 2010 I bought a 2006 Toyota Prius hybrid with 55,000 miles on it and a salvage title for $10,000 from a listing I found on Craigslist.  Ordering the Carfax report indicated that 35,000 miles had been driven on the car since the accident, and upon taking it to a mechanic of my choice for review, it seemed pretty clear that things were repaired appropriately.  The hybrid battery however, ended up failing just before 100,000 miles, but as luck would have it, Toyota honored a free replacement under warranty, even with the salvage title!  This car has something close to 170,000, and while I couldn't sell it for much these days, it still runs great and I love using it as my beater car that I don't have to worry about where I take/park it or if I'm going to be a little dirty coming in from the beach, etc.  Given the new hybrid battery Toyota gifted me (at the time a repair that would have cost over $5,000), I wouldn't be surprised to get another 100,000 miles out of it.

Most recently, in 2017 my family purchased a 2015 Jeep Grand Cherokee Summit edition, used with 35,000 miles on it for $33,000.  This was also bought from a private party I found on Craigslist.  I drove out to test the car, came back to take it to a mechanic for inspection, and because that all went well and the car even had a few months left on its manufacturer's bumper to bumper warranty, it was an easy decision to make.  I subsequently found out from documentation that was left inside the vehicle that it had been purchased less than two years prior for over $60,000!  They also spent an extra $1,500 having the grill and wheels powder coated black to make the car look a bit more aggressive.

These are the only cars I've ever purchased, all used, and they all still run well.  I still marvel that I got such a sweet Jeep for half price just for buying it two years after it was built.  Even with the money to buy brand new from a dealer, I just can't in good conscience do it.  In my mind, it's akin to throwing money away.


--------------------

--------------------
··∙   long live the shroomery  ∙··
...π╥ ╥π...


Extras: Filter Print Post Top
OfflineLearyfanS
It's the psychedelic movement!
Male User Gallery


Registered: 04/20/01
Posts: 34,084
Loc: High pride!
Last seen: 12 hours, 13 minutes
Re: Don't say "I'm paying cash" at Car Dealerships [Re: geokills]
    #26653228 - 05/06/20 04:11 PM (3 years, 8 months ago)

Thank you, Geo.  I appreciate you taking the time.  It sounds like everything worked out pretty good for you!  But I don't know.  As sketched out as I am about car dealerships, I'm even more sketched about private sellers.  Seems like you're really rolling the dice with that. 

My thinking has been that I'm looking for something either new or very close to new.  However, you are making me think a little more about something 3 or 4 years old.  I just feel somewhat safer working with a dealership than just some dude.  But I'm new to this.  Tell me why I should consider a private owner instead?









--------------------
--------------------------------


Mp3 of the month:  The Apple-Glass Cyndrome - Someday



Extras: Filter Print Post Top
InvisibleTheFakeSunRa
Bitch Splitter
 User Gallery


Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF Flag
Re: Don't say "I'm paying cash" at Car Dealerships [Re: Learyfan] * 1
    #26653651 - 05/06/20 07:13 PM (3 years, 8 months ago)

Totally for sure you don’t mention that you can pay upfront until the deal is set

Not only will you pay more but the salesbitch will only be able to possibly imagine whatever you have as a down payment on something you can barely afford anything less would be a total fail in their minds.

Didn’t watch the vid though

No matter what always act like you’re broke as fuck and probably can’t afford a car anyway


--------------------
[quote]Asante said:
You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar.

You know how shit you are, you just don't give a fuck for precisely that reason.

I disendorse you.[/quote]


Extras: Filter Print Post Top
InvisibleTheFakeSunRa
Bitch Splitter
 User Gallery


Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF Flag
Re: Don't say "I'm paying cash" at Car Dealerships [Re: TheFakeSunRa] * 1
    #26653714 - 05/06/20 07:31 PM (3 years, 8 months ago)

Now I did watch the vid

Fuck not lying.  Good advice otherwise


--------------------
[quote]Asante said:
You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar.

You know how shit you are, you just don't give a fuck for precisely that reason.

I disendorse you.[/quote]


Extras: Filter Print Post Top
OfflineManianFHS
living in perverty
 User Gallery


Registered: 07/06/04
Posts: 14,741
Last seen: 1 day, 3 hours
Re: Don't say "I'm paying cash" at Car Dealerships [Re: TheFakeSunRa] * 1
    #26654060 - 05/06/20 11:15 PM (3 years, 8 months ago)

I agree with Geo that buying used and private party is the way to go. If you or someone you know has knowledge of cars you can weed out a bad deal pretty easily. Have a sheet of questions you would like to ask, or print up a car inspection checklist and go down it while checking them out. Cars when taken care of are resilient machines, and outside of a freak malfunction you are almost always safe buying used so long as you do your due diligence. You can even work a better price with someone on the outside, and avoid having to pay taxes - unless you live in a state without sales tax..

The premium you pay at a dealership - upgrades that you might be persuaded to or want to buy, taxes, registration and insurance, its all more pricey buying off the lot - can add an extra 20%+ to your total cost.

Rules of thumb buying used apply for any dealings with private parties. Get a receipt. Make sure you have researched all DMV forms that are required to take ownership of the vehicle. If the guy looks like a crackhead or you get a gut feeling of sketch, say youll think about it then walk away. Also, make the cash transaction in a safe place like a bank/starbucks, etc.. But if you are buying from someone who lives in the same city, lives in their own house, blah blah, your odds of a good deal are pretty decent.

My thoughts anyways, you do you. Or buy a Tesla - electric car you order off the internet. No salesman markups from what I understand, you probably get some kind of energy rebate, and pay a shitton less in maintenance/fuel over the life of the vehicle :smile:


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."


Extras: Filter Print Post Top
InvisibleAhab McBathsalts
OTD Windmill Administrator
Other User Gallery Ultimate Champion: Blackjack


Folding@home Statistics
Registered: 11/25/02
Posts: 35,107
Loc: Wind Turbine, AB Flag
Re: Don't say "I'm paying cash" at Car Dealerships [Re: Learyfan] * 2
    #26654657 - 05/07/20 08:28 AM (3 years, 8 months ago)

There was an old Cosby's episode where he was going to buy a new car. In the show he plays a doctor right? So he's taking off his gold watch and dressing down to look like a bum and pretending he is a janitor.


I made a poast in the OTD about how Hertz, Budget rent a car, and Avis are all going bankrupt in the next 6 months. Usually those cars are like 1 year old with 25K miles and combined the bankrupt corps will be trying to sell about 1 million cars all at the same time. It might not work out, but there is a possibility dealerships that normally take these cars won't want so many all at once and there will be a fire sale of deals. There are usually 40 million used car sales in a year, but with the economy it's probably going to be about half that this year.

Good luck.


--------------------
"Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."


Extras: Filter Print Post Top
OfflineGandalfSon
Stranger
Registered: 07/01/20
Posts: 34
Last seen: 3 years, 4 months
Re: Don't say "I'm paying cash" at Car Dealerships [Re: Learyfan] * 1
    #26826121 - 07/15/20 11:13 PM (3 years, 6 months ago)

This thread is kinda old but it popped up on the first page so fair game 😏


First off I have made may of the mistakes this guy mentions. I grew up on guys like Phil Valentine so for a long while I believed “cash is king” and that may still be true but we gotta understand that the buyer wants to minimize payment while the seller is seeking to maximize payment. Nothing wrong or immoral on either end but obviously contrary goals.

My ole’ lady works in the automobile industry and she has told me that dealerships actually often run a net loss for the company (I assume that her company is similar to others but this totally could be a quirk of their own so please don’t crucify next if I’m wrong).

From what I understand the dealerships often sell at a loss in order to create more KIA drivers, or Toyota, whatever. The real moneymakers are finance and repair. So far your video resonated true.

Thing is these guys are looking to maximize their profit so if they can get you to pay more money then they win. Long term payment plans are awesome for this purpose as the interest really adds up. That $50 a month difference hardly matters to you other than pushing a buy into your budget but an extra $50 at 84 months is $4.2K.
That’s a lot of money to lose over nitpicking right? Longer investments are more profitable to salespeople.



The other big topic is how you play your cards: I really wish we could live in a world where it was as simple as being honest and finding mutyuakly beneficial deals but that’s not reality. Every card you expose is another trick ruined so there is a legitimate reason to hide your planned moves until you are ready to lay your cards down. What the video maker says isn’t wrong it’s just understanding the system and exploiting its rules so that you get a fair deal.


Extras: Filter Print Post Top
OfflineDracultivation
Probably Imaginary
I'm a teapot


Registered: 05/19/20
Posts: 64
Loc: Mountains. High Altitude.
Last seen: 2 years, 11 months
Re: Don't say "I'm paying cash" at Car Dealerships [Re: GandalfSon] * 1
    #26836802 - 07/21/20 06:38 PM (3 years, 6 months ago)

Same boat as Gandalf above me. Older thread, but it popped up.

I gotta say, I'd agree with the video as well. I used to think that if I went in with cash and made it clear I had cash, I'd have a better bargaining position. But the vid made some really good points.


--------------------
I live in the middle of nowhere, where nothing grows.


Extras: Filter Print Post Top
Jump to top Pages: 1

Shop: PhytoExtractum Buy Bali Kratom Powder   Unfolding Nature Unfolding Nature: Being in the Implicate Order   Left Coast Kratom Kratom Powder For Sale   Original Sensible Seeds Autoflowering Cannabis Seeds   Kraken Kratom Red Vein Kratom


Similar ThreadsPosterViewsRepliesLast post
* Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects
( 1 2 3 4 ... 500 501 )
geokillsA 250,329 10,002 01/27/24 05:04 PM
by geokills
* paid way too much for car - what are my rights? hazey 1,801 19 12/08/08 11:50 AM
by darkproggy
* BUying a new truck supra 455 5 09/27/09 12:35 AM
by DieCommie
* Yield Farming yeah 438 3 06/07/21 04:32 PM
by yeah
* can someone beat the house with skills?
( 1 2 all )
CLIT 3,448 24 11/30/16 09:15 PM
by finalexplosion
* Another wave of foreclosures Tedwilto 1,610 14 12/27/08 01:28 PM
by LunarEclipse
* How much, on average, will the price drop for a used car when paying cash? LayYouIn 6,439 12 04/20/08 06:43 PM
by HagbardCeline
* starting an LLC... Yoschie99 1,202 4 01/09/08 04:01 PM
by ZippoZ

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: geokills, automan
807 topic views. 0 members, 0 guests and 0 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2024 Mind Media. Some rights reserved.

Generated in 0.03 seconds spending 0.008 seconds on 14 queries.