I want to pay cash for new car..!

ipri

Hi...have looked at cars in Citroen dealership today. I saw a car that is going with 4k off...if I take out finance!...I want to pay cash. The salesman adamant that I'd be better off taking 0% interest. Is there no way they will accept a cash buyer?


Any advice appreciated.

marleyboy

Oh yes they will take cash, albeit reluctantly, a car salesman makes his money out of the finance deals, new car salesmen do not like cash deals for that reason. Insist on cash payment and eventually they will accept.

zagfles

Check the terms of the finance deal and if you can pay it off early. Last car I bought (through a broker) was an extra £1000 off if I took finance. So I took finance and paid it off after a week!

cajef

I had the same problem I just bought a brand new Honda for cash, the salesman tried to get me to take out finance, I told them it is cash and a good deal or no sale and I go elsewhere he soon capitulated.

motorguy

marleyboy wrote: »

Oh yes they will take cash, albeit reluctantly, a car salesman makes his money out of the finance deals, new car salesmen do not like cash deals for that reason. Insist on cash payment and eventually they will accept.

It could well be that its a subsidised deal from the manufacturer whereby they only get a certain discount if the customer takes out a finance deal.

Therefore they may not be able to / or feel inclined to offer the same deal when a customer pays with cash.

cajef

motorguy wrote: »

It could well be that its a subsidised deal from the manufacturer whereby they only get a certain discount if the customer takes out a finance deal.

In my case Honda UK where offering a £500 off discount buying with finance but £1000 for cash, plus other negotiated discounts that I got from the dealer with no PX etc., etc.

marlot

You have 14 days to pay off a finance deal with no charges added.

I may have done that just recently where the lure of finance was enough to clinch the deal...

HighamKneeDee

ipri wrote: »

Hi...have looked at cars in Citroen dealership today. I saw a car that is going with 4k off...if I take out finance!...I want to pay cash. The salesman adamant that I'd be better off taking 0% interest. Is there no way they will accept a cash buyer?


Any advice appreciated.

Am I missing something here? If it is 0% interest on the full price of the car then are you paying any more than the car price?

cardinalbiggles

HighamKneeDee wrote: »

Am I missing something here? If it is 0% interest on the full price of the car then are you paying any more than the car price?

Its 0% with 4k off the price if you go on finance by the looks or full whack if no finance.

You wont of course be able to get it for any less than the 4k off with cash or they will be breaking the law ;-)

ipri

So...4K off price...then add ?K for finance charges?

colin79666

If it really is 0% then it might be worth considering. After all you can keep the money in the bank for longer and earn some interest on it.
Perhaps not so good if you are needing to apply to loans elsewhere though as it would up the amount of credit shown as outstanding on your file.