here's one segments solution
https://torontosun.com/news/local-ne...box=1652788588
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here's one segments solution
https://torontosun.com/news/local-ne...box=1652788588
Yup, this is regular practice now. They don't make as much money from cash deals especially on used cars.. you can ask them for the invoice and most dealers will show you and you see what they payed for it. The mark up is usually $1000 to $2000 on a used. so negotiating is next to impossible with cash
If you finance then they negotiate and start throwing in other deals as well. I usually ask dealers if i won the lottery can i pay it off? Most of the time there is no restrictions or penalties for paying off the loan. but once they catch wind that you have cash they tighten up even with financing.
This happened recently helping my in-laws buy their car. I told them about this stuff ahead of time.. that cash is no longer king. but they got frustrated and mentioned that they had the cash.. and that was it... it was over.. The best the dealer would do was $500 off or free tires (not both lol). I tried to bring it back to financing, but he knew and straight out told me. IF we go home with the car and pay off the loan he gets nothing. he begged us to at least pay for 6 months before paying it off... We ended up going somewhere else and got a way better deal financing then paying it off right away.
Joel,
perfect work around. it'll be hard to bite the tongue when you have cash and a lifetime of it having value as a bargaining position.