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Old 01-23-2019, 02:38 PM #31
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Quote:
Originally Posted by 2016 4Runner SR5 View Post
Friend of mine is a car salesman. They make $ by offering you financing. If you pay cash, they will not negotiate as well with you since they're losing $ on the finance side. Finance it but be sure to get in writing that there is no penalty for paying it off early. Wait for the first statement to come through and pay it off in full. You will likely get a better deal that way and you will own your vehicle just the same.
Since this thread was brought back I don't believe this one bit. I'm not sure how they do business where you are at but

1. Don't get into any financing questions until after the amount is agreed upon. I sure as hell don't discuss how I'm going to pay until after I know how much I'm spending.

2. Do people actually finance through the dealer? Every single person I know does it through their preferred credit union.

3. Cash is king. Any dealer will gladly take your money immediately to guarantee a sale.
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Old 01-23-2019, 02:49 PM #32
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Originally Posted by 2016 4Runner SR5 View Post
Friend of mine is a car salesman. They make $ by offering you financing. If you pay cash, they will not negotiate as well with you since they're losing $ on the finance side. Finance it but be sure to get in writing that there is no penalty for paying it off early. Wait for the first statement to come through and pay it off in full. You will likely get a better deal that way and you will own your vehicle just the same.
Not my story, but a family members…

He went in to buy a new Honda, looking a bit shabby and broke, spoke a lot about financing and “trying to get his payments down” . He basically he drove down the principal and the dealer tried to pull a shady but putting in a high interest rate on the contract. They were going to make some good money though financing. A few days after buying the car, he walked in the handed them a check. The dealer ship was pretty pissed, but there was no penalty for early payment. It is possible to work a dealer though the loan process.
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Old 01-23-2019, 02:58 PM #33
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Originally Posted by Dillusion View Post
Since this thread was brought back I don't believe this one bit. I'm not sure how they do business where you are at but

1. Don't get into any financing questions until after the amount is agreed upon. I sure as hell don't discuss how I'm going to pay until after I know how much I'm spending.

2. Do people actually finance through the dealer? Every single person I know does it through their preferred credit union.

3. Cash is king. Any dealer will gladly take your money immediately to guarantee a sale.
I believe it, but maybe not in modern day salesÖ that story I told was 18 years old.

That said, I have not been successful at working a dealership like that. Nor do I buy cars often enough to get the chance to try. Iím sure they have learned things over the years as well.
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Old 01-23-2019, 03:28 PM #34
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Originally Posted by Bumbo View Post
I believe it, but maybe not in modern day salesÖ that story I told was 18 years old.

That said, I have not been successful at working a dealership like that. Nor do I buy cars often enough to get the chance to try. Iím sure they have learned things over the years as well.
To update (I thought I had done so months ago - maybe I did elsewhere), I did end up buying a 2019 TRDOR, Nautical Blue, for $38.7k out the door. It ended up that I had two dealerships with the same truck (one had running boards, mine doesn't), and I was able to get them each to that same price over the phone. Went with the one closer to where I live.

Since I was looking to establish a relationship with the new dealership, I wasn't interested in pissing anyone off by playing money games. Maybe I could have saved a couple hundred bucks by doing so, but I didn't. Wrote a check instead.

A funny thing in all this - the very first time I ever drove one of these was when I bought this off the showroom floor and drove it into a thunderstorm. First vehicle I ever bought without a test drive. Really, the months of education I got here at T4R prior to purchase was invaluable, and even though I knew I wanted a 4R, the info I got here made me confident enough to buy without driving.
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Old 01-23-2019, 03:36 PM #35
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Originally Posted by thennen View Post
T
Since I was looking to establish a relationship with the new dealership, I wasn't interested in pissing anyone off by playing money games. Maybe I could have saved a couple hundred bucks by doing so, but I didn't. Wrote a check instead.
I used to think this was important… but it doesn’t appear to matter at all.

Most dealership service department doesn’t give two hoots where you bought the truck. Service and Sales are often times very fragmented even in goals and attitude. Having friends who work at dealers confirm this.

That said, working often with the same service advisor and giving the same dealer business has shown some benefits over the years. But nothing significant enough in savings where I don’t take my truck to a private independent mechanic for most of my needs. I have an even better working relationship with a local person who services a lot of my cars assuming I am not doing the work myself.

Last edited by Bumbo; 01-23-2019 at 03:39 PM.
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Old 01-23-2019, 04:43 PM #36
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Originally Posted by Bumbo View Post
I used to think this was important… but it doesn’t appear to matter at all.

Most dealership service department doesn’t give two hoots where you bought the truck. Service and Sales are often times very fragmented even in goals and attitude. Having friends who work at dealers confirm this.

That said, working often with the same service advisor and giving the same dealer business has shown some benefits over the years. But nothing significant enough in savings where I don’t take my truck to a private independent mechanic for most of my needs. I have an even better working relationship with a local person who services a lot of my cars assuming I am not doing the work myself.
For the past several decades I've done pretty much all my own service work. So what paid off for me over time wasn't labor costs, but parts costs. The parts guy routinely marked off 20-25%. On my 1988 4Runner, I even got two sets of tires, on wheels, already balanced, that had been removed from other new trucks to upgrade. Those sets cost me $175 each set, which was several hundred dollars in my pocket. So that's partly what I'm after. Plus, good relationships in general never hurt :-)
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Old 01-25-2019, 01:42 PM #37
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Originally Posted by 96RedRunner View Post
Curious what you thought of doing that. Investing the $25k in the last 10 yrs
he could have recouped interest on loan and gained a compounded profit.
To each his own of course.
@96RedRunner sorry for the late response. I thought it was a ridiculous idea. Some dealerships were offering 1% loans for new cars and yes for sure he could have done much better things with the money.
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Old 10-31-2020, 02:00 AM #38
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Old 10-31-2020, 03:46 AM #39
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Quote:
Originally Posted by 2016 4Runner SR5 View Post
Friend of mine is a car salesman. They make $ by offering you financing. If you pay cash, they will not negotiate as well with you since they're losing $ on the finance side. Finance it but be sure to get in writing that there is no penalty for paying it off early. Wait for the first statement to come through and pay it off in full. You will likely get a better deal that way and you will own your vehicle just the same.
Truth here.

I used to work with a guy that previously did auto financing. In addition to the above I recall that he also said that if you can make a couple percent more, then finance and invest the cash.
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Old 06-23-2021, 12:13 PM #40
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Originally Posted by adelenew View Post
How can one make money online now?
you can still make money online. just depends on what your expectations are. can you still make $500 - $1000/mo? sure. is it easy? moderately. Can you make $100,000/mo online? sure. is it easy? no, but it's doable.
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Old 06-26-2021, 04:09 PM #41
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Originally Posted by Dillusion View Post
Since this thread was brought back I don't believe this one bit. I'm not sure how they do business where you are at but

1. Don't get into any financing questions until after the amount is agreed upon. I sure as hell don't discuss how I'm going to pay until after I know how much I'm spending.

2. Do people actually finance through the dealer? Every single person I know does it through their preferred credit union.

3. Cash is king. Any dealer will gladly take your money immediately to guarantee a sale. But there are of course really dependable companies on the market.
3 golden rules!

Last edited by Carten; 07-01-2021 at 01:32 PM.
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Old 07-19-2021, 02:05 PM #42
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If you've got good enough credit to get a low rate (~2% or lower), there's nothing wrong with financing. The financing costs are negligible, and I'd rather have $40k+ cash on hand for other, higher-yield investments rather than tying it up in a depreciating asset.
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Old 07-22-2021, 12:51 AM #43
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That's an interesting topic
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Old 07-22-2021, 01:18 AM #44
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That's an interesting topic

Letís bump this and see where it goes, post pandemic


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