I have the money but there's no way I'm eating that depreciation. You can put down $10k and finance the rest if you have good credit. Take the remaining $$$ and put that in a high yield savings over a few years and you end up on top.

Makes absolutely no sense to buy a car outright unless you don't wanna deal with the hassle of the note or you don't care about losing money, or if you're gonna keep the car forever.

 

no dealer would take large down deposites on a credit card....they put a cap on credit card payments because they have pay the credit card service a % fee....That is why the limit it to a couple thousand...happened to me on both of my new cars...go and try putting $15,000 on a credit card...they won't accept it....at least not in New Jersey



now the amount cash you put down has NO limit...but if you pay anything more the $10,000 dollars down cash (cashiers check, $100 dollar bills, gold bars, etc etc) it has to be reported to the IRS.... (that is for the state of New Jersey) i'm not sure how other states work....




.

 

I took my briefcase full of cash. The night before, I was slapping everyone around asking, "What does it feel like to get slapped with $37k?"

 

I did. The guy doing the paperwork was like, "Wow, you didn't even break a sweat when you wrote that check."

 

anyone wanna pay off mine???

lol

 

I did $37k just like that.

 

I guess this depends on the interest rate of the loan, etc. And, many times, don't you have a choice between a low interest rate, or a rebate? Forgoing the rebate for the lower interest rate sure bumps up the effective payment.

You have to also factor in taxes. A 5% loan, non tax deductible, vs having to earn over 7.5% to even break even. No guarantees on over 7.5%. May go up 20% on stocks, or go down.

In my case, nearly 4 years ago, I put $10K down and financed the rest at 3.4%. Wanted to leave some money in savings for emergencies, so I wouldn't have to go straight to credit cards.

 

I was able to put my $1K deposit on the credit card, but they didn't want any more than that charged to the card. Many people could just use 2 or 3 credit cards to buy cards, then try the 0% balance transfers to juggle it around to avoid paying interest, but I don't want to go that route.

 

I traded in my 2001 BMW 740i which was good for about $15k and plunked down an additional $8k cash. Paid off the rest with an equity line of credit. In hindsight, should have kept the $8k and paid off the balance with the line of credit.

 

Do you have a sister?

 

I have always wondered how they get away with this. The reason being is it is going against their merchant agreement with the credit card companies. Per the merchant agreement you can not put any limitations, minimums or maximums, on credit card transactions and you can not impose any fee for accepting credit cards but you can offer a discount to people who pay cash.

 

el oh el

 

I put about 3K on my credit card and for the rest I wrote out a personal check. Got the clear title from the state in about 2 weeks, which was before I even got the license plates.

The guy who bought my 2003 Coupe paid CASH, a stack of $100 bills!

 

I need to call DMV, its been 3 months and I still have not seen my title...

 

I pay cash for all my cars.. unless the loan rates are less than what I can earn from my savings account.