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Donkeyman
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Donkeyman is offline
Melton,United Kingdom
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29-12-2019, 12:44 PM
11

Re: car buying for cash

Originally Posted by Primus1 ->
Take out the finance from the dealer, then ring up the finance company and ask for a settlement figure, then pay it off, ...
Sounds good Primus, are there no snags?

Donkeyman!
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Losos
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29-12-2019, 01:02 PM
12

Re: car buying for cash

Originally Posted by Primus1 ->
Take out the finance from the dealer, then ring up the finance company and ask for a settlement figure, then pay it off, ...
You'll still be worse off 'cos there will be cancellation charges and heaven knows what other 'charges' they will impose.

If possible NEVER get involved with finance companies, the very LAST thing they want you to do is pay off your loan in fact as soon as you get about half way through paying off aloan they ramp up the pressure to take out another loan
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Primus1
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York
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29-12-2019, 01:20 PM
13

Re: car buying for cash

Originally Posted by Losos ->
You'll still be worse off 'cos there will be cancellation charges and heaven knows what other 'charges' they will impose.

If possible NEVER get involved with finance companies, the very LAST thing they want you to do is pay off your loan in fact as soon as you get about half way through paying off aloan they ramp up the pressure to take out another loan
There won’t necessarily be any fees to pay before cancellation, but obviously check the small print...some car finance is 0% so ,in theory you could put the cash aside, in a separate account and use it to pay off the loan...
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29-12-2019, 01:42 PM
14

Re: car buying for cash

I suppose the best thing to do these days is make a simple bank transfer. No need to walk around with a suitcase full of bank notes unless that is one's style.
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Omah
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Ludlow
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29-12-2019, 03:20 PM
15

Re: car buying for cash

Originally Posted by Longdogs ->
I suppose the best thing to do these days is make a simple bank transfer.
That's what I do .....
rcs60h
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29-12-2019, 03:24 PM
16

Re: car buying for cash

In Britain because of Government regulations all outlets that sell high value products have to ask the origin of cash (usually about £5000) that is offered for payment as part of the operations used to stop money laundering, which usually these days is money from drug dealing or from tax evasion. So if it manages to stop either of those actions surely a couple of slightly invasive questions isn't that bad.
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29-12-2019, 09:18 PM
17

Re: car buying for cash

To get the best deal on a car, remember that the dealer makes a huge profit on the car, AND on financing AND on your trade-in. NEVER tell the salesman anything about what you will be doing via "how you will pay". never tell them if you will be trading in your older car. The salesman will use that info against you to jack up the price of your prospective auto. Don't tell him how much you have to spend. Make the best possible deal on the new car. Don't forget that the STICKER PRICE is the manufactures retail price, that is NOT the price they will sell the car for. For example a new vehicle may have a RETAIL PRICE of 45,000, but that includes the HUGE profit for the dealer. Dealers will quite often lower the price by as much as 20% if you catch them at the right time (usually at the end of the month and/or on a rainy day). Finally, after much haggling, when you are sure you have their best possible price and you have a firm price, then, and only then, discuss if you want to finance the new car. But your bank is likely to give you a much better interest rate than the dealers finance company. Lastly, you will get a much better price on your old car if you sell it yourself through advertising.
Oh, almost forgot, never let on how much you love the new car. Be evasive. The salesman will ask you how you like the new car. Say something to the effect of, "Well, I'm not sure. I MIGHT be interested, but only if the price is right. I'm JUST STARTING to look around. I am thinking of checking out some other dealers". Even if you really want the car, don't be afraid of walking away. You can always return later after you have checked out more dealers.
I have a friend who was a master of buying cars at the best possible price. When he heard the price, he actually said, "I know a good psychiatrist. maybe he can help you". Ha ha
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29-12-2019, 09:38 PM
18

Re: car buying for cash

Every time we get a new car the discount for cash is worth it.
When I said "cash" by that I mean by card or bank transfer or whatever, not walking in with pound notes in the hand. I may have mislaid you, sorry

The last time we p/x Sue's Kia Ceed estate for her Honda Civic Estate we got what I would call a very good deal. I doubt very much if we had done so in an HP the deal

Cash is still king . I rarely ever accept the asking price, paying in full by whatever means usually works to get a good percentage off the product
Donkeyman
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30-12-2019, 02:12 PM
19

Re: car buying for cash

Originally Posted by realspeed ->
Every time we get a new car the discount for cash is worth it.
When I said "cash" by that I mean by card or bank transfer or whatever, not walking in with pound notes in the hand. I may have mislaid you, sorry

The last time we p/x Sue's Kia Ceed estate for her Honda Civic Estate we got what I would call a very good deal. I doubt very much if we had done so in an HP the deal

Cash is still king . I rarely ever accept the asking price, paying in full by whatever means usually works to get a good percentage off the product
It always used to be the case RS, but people now are practicly born
with a credit card , imo this is a deliberate banking strategy to keep
people on the hook from birth to death?
Donkeyman!
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01-01-2020, 11:49 AM
20

Re: car buying for cash

Originally Posted by Donkeyman ->
It always used to be the case RS, but people now are practicly born
with a credit card , imo this is a deliberate banking strategy to keep
people on the hook from birth to death?
Donkeyman!
True. Companies such as car sales don't want the cash, they prefer to sign you up on the never-never. They get the commission.
 
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