Why are people convinced they'll get more discount for cash?
Discussion
Just looking at all the "if you pay cash you'll get a better discount" posts in the 24 year old buy's Bentley thread.
What on earth makes people think that?
A dealer doesn't care were the money comes from, financed cash isn't worth any less on his accounts!
And if he's providing the finance he'll get a commission, so if anything he's more likely to do a better deal with finance as he'll be making a bit extra.
Really cannot understand this perpetual "better deal for cash" urban myth, how does anyone think it makes any sense?
What on earth makes people think that?
A dealer doesn't care were the money comes from, financed cash isn't worth any less on his accounts!
And if he's providing the finance he'll get a commission, so if anything he's more likely to do a better deal with finance as he'll be making a bit extra.
Really cannot understand this perpetual "better deal for cash" urban myth, how does anyone think it makes any sense?
What's with the rofl's at Mark?
I've been in the trade on and off for donkeys years, and never came across any off book deals. Sure it happens at the shed end of the market, sole traders etc. But not at a regular franchised new car dealership or group, maybe if trade cars are being moved on, but not front of house retail.
As for the OP's point about a discount for cash, yes, it's complete total utter b
ks, and there's no point explaining why. What you do is instead of educating the customer as to why it doesn't work like that (and losing a deal) you reinforce their ignorance, rub your hands together and say "Of course Sir, what did you have in mind?" and talk turkey. They think they've got a deal for cash, and bragging rights down the pub, they haven't of course, but who cares?
I've been in the trade on and off for donkeys years, and never came across any off book deals. Sure it happens at the shed end of the market, sole traders etc. But not at a regular franchised new car dealership or group, maybe if trade cars are being moved on, but not front of house retail.
As for the OP's point about a discount for cash, yes, it's complete total utter b
ks, and there's no point explaining why. What you do is instead of educating the customer as to why it doesn't work like that (and losing a deal) you reinforce their ignorance, rub your hands together and say "Of course Sir, what did you have in mind?" and talk turkey. They think they've got a deal for cash, and bragging rights down the pub, they haven't of course, but who cares?Edited by Balmoral on Thursday 23 February 16:26
Balmoral said:
What's with the rofl's at Mark?
Because everyone is a fking expert on the motor trade, you only have to read the steaming ste that gets posted on the salesman thread by folk who have sold one or two cars in their lives and think that somehow qualifies them to tell those of us who do (or have done) it for a living for years how it should be done.If I'm selling privately, I don't have a min price is x for cash and y for another payment method.
But! I don't have the inconvenience of witing for a cheque to clear, the buyer to get a banker's draft or get home and transfer the money into my account. It also means an immediate sale, so if I'm selling a car for £2500 expecting to get knocked down a couple of hundred, I'd be tempted to go down another hundred or so perhaps.
But! I don't have the inconvenience of witing for a cheque to clear, the buyer to get a banker's draft or get home and transfer the money into my account. It also means an immediate sale, so if I'm selling a car for £2500 expecting to get knocked down a couple of hundred, I'd be tempted to go down another hundred or so perhaps.
At an independent, where you are dealing with the owner then I can see no reason why a cash deal, off the books, could not be done if both parties colluded to do so.
At a franchised dealer, where even the DP is a few steps removed from owning the business and where the parent company might even be a listed plc, there is far less scope for such shenanigans and real pound notes cash is probably more of a problem to them than a benefit that they are willing to drop the price for
At a franchised dealer, where even the DP is a few steps removed from owning the business and where the parent company might even be a listed plc, there is far less scope for such shenanigans and real pound notes cash is probably more of a problem to them than a benefit that they are willing to drop the price for
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