cbr1000 Posted June 8, 2009 Report Share Posted June 8, 2009 Sounds like the new GT500's will be arriving shortly. A quick question for the Dealers or anybody else that might know. What's the best way to pay for your car to receive a discount? I've already agreed and committed to a price. If I ask my Dealer for an additional discount for cash payment is this something you think they will do? Don't they pay a percentage for taking checks/charge? thx Link to comment Share on other sites More sharing options...
shel-b001 Posted June 8, 2009 Report Share Posted June 8, 2009 Wow never heard of discount for paying cash I didn`t get one. Good Luck. Link to comment Share on other sites More sharing options...
Torched10 Posted June 8, 2009 Report Share Posted June 8, 2009 Wow never heard of discount for paying cash I didn`t get one. Good Luck. I think the dealership would have a hard time even depositing 50,000 in cash into a bank--since 911 if you take out or deposit more than 10K in cash in a bank,you have to fill out all kinds of forms--theyre trying to catch drug dealers.Goodluck though.bob Link to comment Share on other sites More sharing options...
Grabber Posted June 8, 2009 Report Share Posted June 8, 2009 That much cash these days is a PITA for dealers to accept. They would most likely charge you a handling fee. Link to comment Share on other sites More sharing options...
SmellSoGood Posted June 8, 2009 Report Share Posted June 8, 2009 Are we talking a bucket load of greenbacks or just a bank check? Link to comment Share on other sites More sharing options...
ingram4868 Posted June 9, 2009 Report Share Posted June 9, 2009 Loose change would make the news for sure. I've been told by others that a dealer can make a few bucks when they get you to use their preferred lender. If that is true then there is little incentive for them to give a cash (single check) deal. We have some really fine dealers on this site so stay tuned for the rest of the story. Link to comment Share on other sites More sharing options...
tglockner Posted June 9, 2009 Report Share Posted June 9, 2009 That much cash these days is a PITA for dealers to accept. They would most likely charge you a handling fee. Grabber, I sold a used Saleen S7 and the customer gave me Green CASH! Try counting over 400K, we counted it three times. Tom Link to comment Share on other sites More sharing options...
ingram4868 Posted June 9, 2009 Report Share Posted June 9, 2009 Grabber, I sold a used Saleen S7 and the customer gave me Green CASH!Try counting over 400K, we counted it three times. Tom Of course you reported it to the Treasury Department. Link to comment Share on other sites More sharing options...
shel-b001 Posted June 9, 2009 Report Share Posted June 9, 2009 Grabber, I sold a used Saleen S7 and the customer gave me Green CASH!Try counting over 400K, we counted it three times. Tom $400K Link to comment Share on other sites More sharing options...
tglockner Posted June 9, 2009 Report Share Posted June 9, 2009 Of course you reported it to the Treasury Department. I collected the money and gave it to our CFO at Saleen, I am sure they handled the procedure correct. But I did learn that you can fly state to state with as much cash as you want, also 200K fits perfect in 100 dollar bills in a Fed-ex standard size box. Also having that much cash on you makes you think weird thoughts. Tom Link to comment Share on other sites More sharing options...
cbr1000 Posted June 9, 2009 Author Report Share Posted June 9, 2009 Are we talking a bucket load of greenbacks or just a bank check? Well, I was thinking they would give me a discount for paying in cash because if you write a check the verification process costs them money. I don't know if it still works like that or not? Check companies would guarantee and verify funds, but it costs the Dealer to use the service. Telecheck.. http://telecheck.com Don't the Dealers pay a percentage point for mc/visa as well? If I tell them I'm going to pay with Visa I wonder what it costs them. I got a good deal on my car..I'm curious about this because cars are coming soon and since I'm starting to think about how to pay for it I had these questions. I'm not trying to be a jerk to the dealer. I have not talked to them about it. Was hoping to get some insight from one of the forum members that works at a dealer as to how this all plays a part in the cost. Link to comment Share on other sites More sharing options...
speedyman Posted June 9, 2009 Report Share Posted June 9, 2009 Well, I was thinking they would give me a discount for paying in cash because if you write a check the verification process costs them money. I don't know if it still works like that or not? Check companies would guarantee and verify funds, but it costs the Dealer to use the service. Telecheck.. http://telecheck.com Don't the Dealers pay a percentage point for mc/visa as well? If I tell them I'm going to pay with Visa I wonder what it costs them. I got a good deal on my car..I'm curious about this because cars are coming soon and since I'm starting to think about how to pay for it I had these questions. I'm not trying to be a jerk to the dealer. I have not talked to them about it. Was hoping to get some insight from one of the forum members that works at a dealer as to how this all plays a part in the cost. Your question is a good one. The retailers concern is far more in the direction of your ability to pay and not how the funds are ultimately conveyed. Why not determine the exact invoice amount of the car that you are considering and add the sales tax, plates, etc. Have your bank cut a cashiers check made to the respective dealer in that amount. Load your other pocket with enough C-notes to a level that you are comfortable with. This is a very respectfull method of demonstrating both your finacial position and consumer skills. Leave a contact # if the deal is not reached. Your phone will ring very soon thereafter. The era of dealer price controlls on these cars is long, long past. Qualified buyers for new vehicles in this price range are pearls in a sea of garbage. Link to comment Share on other sites More sharing options...
Cobra010 Posted June 9, 2009 Report Share Posted June 9, 2009 Sounds like the new GT500's will be arriving shortly. A quick question for the Dealers or anybody else that might know. What's the best way to pay for your car to receive a discount? I've already agreed and committed to a price. If I ask my Dealer for an additional discount for cash payment is this something you think they will do? Don't they pay a percentage for taking checks/charge? thx As we told customers when I was a sales consultant, all deals to us are cash deals, if you finance we get a check if you pay cash we get a check either way we are paid. Cobra09 Link to comment Share on other sites More sharing options...
cbr1000 Posted June 9, 2009 Author Report Share Posted June 9, 2009 As we told customers when I was a sales consultant, all deals to us are cash deals, if you finance we get a check if you pay cash we get a check either way we are paid.Cobra09 Ya, I asked him today...they don't care if it's cash, check or charge. The only difference is when the title is released. 5 days if cashiers check from bank, 10 days if check. I always gave people a break for cash or money order because of the additional fees associated with charge and checks... Link to comment Share on other sites More sharing options...
Michael Morris Posted June 9, 2009 Report Share Posted June 9, 2009 OK from a dealers point of view. I dont think your talking about bringing in 50K cash, but if you do we have to fill out a form showing who gave us the cash. I have had one fellow fly in and give me 50K cash for a car. No problems, but might be some down the road (but I doubt it) YES, we can make some money on financing the car. Most banks will pay us 100-300 per contract if we sell it at the buy rate. We are allowed by the banks to mark it up at the most 2 points! So as a dealer we would rather a person finance! It also allows us a chance to sell Extended Service plans and other ADD ONS!!! Of course you dont have to buy them, but if you walk in with cash its VERY hard to sell you anthing else. I WOULD NOT take a charge card for a 50K car unless the customer agreed to pay the fee they charge us. Everyone merchant pays 1-3% percent on a transaction! No big deal on $50 dollar, but on 50K thats $1500!!! Most of the units we dont make that much profit to cover it!!! I have told folks that want to use it for the flyer miles or whatever to get me a Credit Card Check. Ill do that, but Im NOT swiping the card for that kind of money! Bank check!! With the times like they are and money being TIGHT sometimes bring in a bank check really helps out. Lets think about it for a second. If you finance with me. I get the contract signed. You leave with the car. Later that day or the next we send the package overnight to the bank. It takes them a few days to BOOK the deal. Then they send a fax showing that the money will be deposited the next night. IF everything is perfect and the contracts not sent back or held for more info we will get our money in 4-5 days!!! So the dealer has to FLOAT that 50K for almost a week. Now say we have a few good day we could be FLOATING 300K waiting on contracts to fund!!!! Lastly, You said that YOU and the DEALER agreed on a price. Well in my opinion it would be right if the dealer CHANGED the price on the car when it came it and asked you to pay more, so I dont think asking him to discount the car after yall have agreed is fair either. I guess you can ask for a discount, but to me that opens the door for NEGOTIONS to start up. What if he has someone else willing to pay more. You start asking for a price change. Well Mr Customer since you dont want to pay what we agreed We are going to sell it to Mr B!! Congrats on your car and I hope this helps. MM Link to comment Share on other sites More sharing options...
Torched10 Posted June 9, 2009 Report Share Posted June 9, 2009 OK from a dealers point of view. I dont think your talking about bringing in 50K cash, but if you do we have to fill out a form showing who gave us the cash. I have had one fellow fly in and give me 50K cash for a car. No problems, but might be some down the road (but I doubt it) YES, we can make some money on financing the car. Most banks will pay us 100-300 per contract if we sell it at the buy rate. We are allowed by the banks to mark it up at the most 2 points! So as a dealer we would rather a person finance! It also allows us a chance to sell Extended Service plans and other ADD ONS!!! Of course you dont have to buy them, but if you walk in with cash its VERY hard to sell you anthing else. I WOULD NOT take a charge card for a 50K car unless the customer agreed to pay the fee they charge us. Everyone merchant pays 1-3% percent on a transaction! No big deal on $50 dollar, but on 50K thats $1500!!! Most of the units we dont make that much profit to cover it!!! I have told folks that want to use it for the flyer miles or whatever to get me a Credit Card Check. Ill do that, but Im NOT swiping the card for that kind of money! Bank check!! With the times like they are and money being TIGHT sometimes bring in a bank check really helps out. Lets think about it for a second. If you finance with me. I get the contract signed. You leave with the car. Later that day or the next we send the package overnight to the bank. It takes them a few days to BOOK the deal. Then they send a fax showing that the money will be deposited the next night. IF everything is perfect and the contracts not sent back or held for more info we will get our money in 4-5 days!!! So the dealer has to FLOAT that 50K for almost a week. Now say we have a few good day we could be FLOATING 300K waiting on contracts to fund!!!! Lastly, You said that YOU and the DEALER agreed on a price. Well in my opinion it would be right if the dealer CHANGED the price on the car when it came it and asked you to pay more, so I dont think asking him to discount the car after yall have agreed is fair either. I guess you can ask for a discount, but to me that opens the door for NEGOTIONS to start up. What if he has someone else willing to pay more. You start asking for a price change. Well Mr Customer since you dont want to pay what we agreed We are going to sell it to Mr B!! Congrats on your car and I hope this helps. MM Well said --whats fair is fair--you've been very straight up with me,right from the get go--Im excited about getting the car Link to comment Share on other sites More sharing options...
cbr1000 Posted June 10, 2009 Author Report Share Posted June 10, 2009 OK from a dealers point of view. I dont think your talking about bringing in 50K cash, but if you do we have to fill out a form showing who gave us the cash. I have had one fellow fly in and give me 50K cash for a car. No problems, but might be some down the road (but I doubt it) YES, we can make some money on financing the car. Most banks will pay us 100-300 per contract if we sell it at the buy rate. We are allowed by the banks to mark it up at the most 2 points! So as a dealer we would rather a person finance! It also allows us a chance to sell Extended Service plans and other ADD ONS!!! Of course you dont have to buy them, but if you walk in with cash its VERY hard to sell you anthing else. I WOULD NOT take a charge card for a 50K car unless the customer agreed to pay the fee they charge us. Everyone merchant pays 1-3% percent on a transaction! No big deal on $50 dollar, but on 50K thats $1500!!! Most of the units we dont make that much profit to cover it!!! I have told folks that want to use it for the flyer miles or whatever to get me a Credit Card Check. Ill do that, but Im NOT swiping the card for that kind of money! Bank check!! With the times like they are and money being TIGHT sometimes bring in a bank check really helps out. Lets think about it for a second. If you finance with me. I get the contract signed. You leave with the car. Later that day or the next we send the package overnight to the bank. It takes them a few days to BOOK the deal. Then they send a fax showing that the money will be deposited the next night. IF everything is perfect and the contracts not sent back or held for more info we will get our money in 4-5 days!!! So the dealer has to FLOAT that 50K for almost a week. Now say we have a few good day we could be FLOATING 300K waiting on contracts to fund!!!! Lastly, You said that YOU and the DEALER agreed on a price. Well in my opinion it would be right if the dealer CHANGED the price on the car when it came it and asked you to pay more, so I dont think asking him to discount the car after yall have agreed is fair either. I guess you can ask for a discount, but to me that opens the door for NEGOTIONS to start up. What if he has someone else willing to pay more. You start asking for a price change. Well Mr Customer since you dont want to pay what we agreed We are going to sell it to Mr B!! Congrats on your car and I hope this helps. MM Yes, very helpful. Thank you. I thought that's the way it works. I know an additional fee is paid by the Dealer for check/charge. That's why it was confusing to me when he said there's no difference in price related to how you're paying. My Dealer has been decent to me and given me a fair price when many around me would not. It seems odd they wouldn't care if I paid with a couple Visa's. For me if I can float 50g for 1 month it is beneficial. I don't want to screw over the Dealer, but also don't want to screw myself. Here's how this is probably gonna go.... Me: yippy my new car his here! Here's my charge card. Thank you, this car looks and sounds great... Salesman: (looking at charge card) uh, okay I will be right back (goes to talk to someone in a nice suit) Me: car car car fast fast car car Salesman: Can you write us a check we really prefer not to take charge cards (suit guy glaring over our direction) Me: (see, I knew it....) Sure no problem. Do you remember me calling you at talking with you regarding payment and you said you don't care? Link to comment Share on other sites More sharing options...
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