It passed.
03-03-2023 | 09:18 AM
#251
Gets Weekends Off
Joined: May 2015
Posts: 7,292
Likes: 0
From: A350 Both
You can tell I don't buy a lot of cars.
03-03-2023 | 09:28 AM
#253
Gets Weekends Off
Joined: Nov 2020
Posts: 2,235
Likes: 81
Often you can be "ambiguous" as to the loan/cash until after you've negotiated a deal. Gspeed is correct, over the years I'm convinced I can negotiate a slightly better price if I agree to take a loan. Last two cars I've been ambiguous, letting me get quoted "payments" but always focussing on the PRICE of the car, then at the end, when I feel the deal is right, just write a check. Worse case like gspeed said, just agree to the loan and then pay it off immediately. Either way the price is often subsidized by the idea of creating a loan event.
03-03-2023 | 10:09 AM
#254
Roll’n Thunder
Joined: Oct 2009
Posts: 5,123
Likes: 542
From: Pilot
But you know as well as I that the vast majority of CC holders won't do that. And that actually goes to the heart of what DR is all about - behavior modification. I think an interesting contrast is how DR and Clark Howard go about 'training' people to get out of debt. Dr says to pay off your smallest balance first. That gives the debtor a sense of accomplishment and is a quicker reward. CH on the other hand says to pay off your highest interest rate first (which I think is the better financial move... but requires more discipline which has already shown itself to be elusive).
Anyway you slice it, they are trying to help people that get into a bind via a rigged system. The .gov wants people in debt. Were that not true, how is it that they allow credit card companies... banks... to charge usurious rates of interest on people that already show they cannot afford to be where they are?
Anyway you slice it, they are trying to help people that get into a bind via a rigged system. The .gov wants people in debt. Were that not true, how is it that they allow credit card companies... banks... to charge usurious rates of interest on people that already show they cannot afford to be where they are?
03-03-2023 | 10:14 AM
#255
On Reserve
Joined: Sep 2022
Posts: 164
Likes: 41
Don't be surprised when the dealer will only allow you to charge a small part (few $K) of the purchase price on a credit card.
03-03-2023 | 10:29 AM
#257
Line Holder
Joined: Oct 2017
Posts: 1,104
Likes: 6
From: 737 A
Beat me to it. This is perfect advice. You’ll get a lower purchase price since the dealer is expecting to get their profit from the interest on the loan.
03-03-2023 | 10:38 AM
#259
Banned
Joined: Sep 2016
Posts: 8,831
Likes: 499
and they’ll decline the deal once you tell them you’re paying cash because many of the discounts rely on financing. They’ve seen it before and you aren’t going to “gotcha” them out of thousands of dollars with this one weird trick.
03-03-2023 | 10:39 AM
#260
Line Holder
Joined: Jul 2015
Posts: 1,588
Likes: 4
From: MD-88 FO
Make sure to read the fine print carefully. A lot of finance contracts require you to make a minimum number of payments before payoff to recoup the finance charges. Usually six to twelve months. Otherwise there may early payoff fees.
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