I'm REALLY not sure what you're asking or, actually, what you're trying to say. I personally paid mostly cash, meaning that I only financed about $7 large. I found it silly to drain money out of an investment that was yielding 4% in lieu of borrowing money at 2.9%. In this scenario it was obviously a no brainer...use somebody elses money and SAVE. Anybody who thinks the dealer is going to give you an additional break for paying cash is "old school delusional". By this I mean there are some "older'' folk that still think a dealer would rather that you pay cash and will give you an additional discount to save them the hassle of financing...LOL. Only somebody living under a rock still believes that. Regardless of the fact that it's VERY little anymore, a dealer does MAKE money on the finance reserve (usually less than 3/4 of a point over the course of 60 mo. loan) And, considering the ABYSMAL profit on the "front end" that they generally make....any additional monies made are welcome. Draining money markets, and the like, to avoid borrowing the CHEAP money that's out there is NO reason get "Puffy Chested". The only "statement" you're making is that you're possibly a person that steps over quarters to pick up dimes. Generally I'll borrow a little $ over a long time period and make double or tripple payments until whatever investment I'm working on at the time matures. I then pay it off in it's entirety so, basically, it costs me nothing to use somebody elses' $$$. Also...what the hell does this mean? ...."Did ANy1 pAy cAsh for there car?" Do you mean perhaps "did anybody elses' Daddy pay way too much cash for their car?" LMFAO...$41,000 for an 02/03' G? Call me ...I've got a lightly used bridge for sale and I'll give ya a break if you pay cash....yeeesch! JBX has left the forum ...laughing audibly H to the izz-O, V to the izz-A, Fo' shizzle my nizzle used to dribble down in VA

 

JustBrillantX,
Your response was classic, I just spewed Mountain Dew all over my monitor! Age 18, 41K cash....sounds like Daddys money....

 

I think the next investment R35 should make is in a G.E.D./vocab.tutor/typing inst. or in Humility 101. I'm debating on downloading some of his/her posts and using them in for a "Stay in School" campaign advertisement....No? ... Just kidding,JustBrilliant

 

JBX,

there should be a tutorial on here about the cost of money...wait there is, your post. could someone please teach everyone about the diff b/w "there" and "their"? no wonder some people pay cash.

 

oooppps! I forgot ..........."Modesty for the Spending Impaired"

 

JustBrilliantX,

And if you think that the dealer is hopping up and down to make 2.9% loans and at the same time being willing to negotiate down to an absolute minimum sale price than I'd like to underwrite that bridge your trying to buy. The dealer's total profit might be maximized by offering you an artificially low interest rate to permit you to make your monthly payments and thus qualify for the loan and make the purchase - however he is going to make up part of that gross profit loss by not lowering the price as far as he might otherwise be willing to do. Of course, in the best of all dealer worlds, he'll sell you the car at or near MSRP and also get you that 7% loan. If you don't believe that, you haven't been reading the threads lately.

 

I put $16,000 down and owe around $20,000. Payments are $438, but I pay $500 so I can pay it off early. I wish I paid all cash.

 

First deal on the price of the car, then you talk financing. That is how you negotiate. Listen and learn, JBX is on the money with his post.

Dealers may negotiate on price of cars based on what the financing looks like but this is usually done on used cars, still negotiate price first. I can EASILY get an 05 G35 at invoice and still get 2.9 for 60 here in LA, CA. So Saltidawg, your theory is voided in most instances. Just the facts.

 

istick2u- are you adding that extra $162 towards the principal?

 

$41,000 for a sedan? In 2002? Are they still laughing down at your dealership?

 

i was going to finance but the rate was almost 10 percent, becuase i have no credit so i just wrote a check for 34 grand, and now i am poor.

 

g35miked- it may have been a good idea to take the financing for a few months and then pay off the principal. You would build credit and get better interest rates on the next credit based decision (i.e. another loan, cc, etc). In the long run saving $.

 

****How a person paid for their car was NEVER a bone of contention in negotiating a selling price. In fact, it was often not even discussed until the deal was consummated. If Infiniti was offering a discounted rate (2.9% or whatever) it was just an incentive for the buyer to weigh against their other options of paying for the car. How they paid for it was of no concern to me, especially for the whopping $18.00 I got in addition to whatever the commision was. Are you suggesting that the selling price of your car was dictated by the payment method you selected? If it was, you should've gotten up and left the dealership immediately. RARELY a customer came in not fully armed with dealer cost/invoice amount. It was from invoice that most deals were worked, with the customer dictating how much of a fair profit he/she would "allow" us to make. NEVER once did the financing method dictate the selling price, unlike domestic cars with the 'choose one (cheap rate vs. rebate) or the other' methodology. No Infiniti dealers that I've ever come in contact with use the domestic dealer method of "buying down their rate" to give the customer the false impression that they're getting something they're not. The robbing of Peter to pay Paul schemes just don't have any place in todays' educated consumer marketplace. I'm sorry if my thirty+ years in automotive sales and management tend to make me seem opinionated, but I am. No dealership in today's competitive/educated environment could survive long working with that type of format (not in the Northeast corridor anyways).And, I do read the threads posted here by many of the site's car buying 'experts' and often find them ridiculously misleading, uninformed, or just blatantly wrong. By the way.......my bridge buyer needs a co-maker . Now I'm rolling MY eyes LOL .......JBX

 

****so pay it off now in one shot...there's no pre-pay penalty (rule of 78') and be done with it. JBX

 

Corinth was/is right. You woulda established your credit by just borrowing a little and paying it off early, or in whatever time period suited you. You should've taken more time to shop around a rate also to assure yourself of getting the best available rate. The very fact you were able to put a lot down should've dictated a lower rate to begin with. JBX