Do you know anyone who has paid cash for a BRAND NEW car?
Discussion
Nothing too exciting, but went to pay cash for a girlfriend's Astra a few years back and was told they could only accept £x (which I forget - but no where near price) in cash. Think was an 05 car so maybe a time when there were money laundering concerns etc.
Tried offering cash on a more recent purchase (girlfriend upgraded to wife, car only upgraded to Zafira) and accepting cash wasn't an issue - but certainly not a bargaining advantage (they prefer finances/part-ex etc)
Tried offering cash on a more recent purchase (girlfriend upgraded to wife, car only upgraded to Zafira) and accepting cash wasn't an issue - but certainly not a bargaining advantage (they prefer finances/part-ex etc)
When I left uni and needed a job for a while, I fell into selling cars at a Skoda/Renault dealership. Quite a few of my customers used to pay cash for a car. When I probe a bit futher to see whether they were lying / I wanted to get them on finance if they were taking out a loan, but no, a lot of people wanted to pay 10k+ for a new car.
I had one customer who insisted on paying cash for a brand new, fully loaded Renault Scenic and then fancied a change 6 months later, he was truly shocked at how much money he had lost. I wasn't sure why he was surprised, as we all know how much money you lose as soon as one has driven off the forecourt and it is a f
king Renault. They hold money, as much as a colander holds water
I had one customer who insisted on paying cash for a brand new, fully loaded Renault Scenic and then fancied a change 6 months later, he was truly shocked at how much money he had lost. I wasn't sure why he was surprised, as we all know how much money you lose as soon as one has driven off the forecourt and it is a f
king Renault. They hold money, as much as a colander holds water
Yes, the only time I haven't paid cash has been when I could get more for my cash investing it than it cost me to borrow the same amount to buy the car.
(Yes, this does happen, an example was when I bought a 911, they leant me £40k at 1% when I could get 4% on the cash, it was the end of the last day of the quarter and it enabled them to meet their targets)
(Yes, this does happen, an example was when I bought a 911, they leant me £40k at 1% when I could get 4% on the cash, it was the end of the last day of the quarter and it enabled them to meet their targets)
I don't really understand why 'new' is a requirement here, but I've bought several cars over £20k cash; one when I was earning £25k pa; they weren't new, but nearly new from a main dealer and at the time finance wasn't 0%, so I didn't see why I shouldn't just pay on my debit card?! I'll probably never buy new because there's always a better car to be had secondhand for the same money. If you really mean new though, I believe my Dad's bought all of his modern cars with cash, and they've all been new. He's the only person I know who buys new cars though...
Everyone has different circumstances, so I don't think it's our place to question these things. One thing I will say though is that most people put down at least £20k on a house deposit, so people with that sort of money in the bank are fairly common.
Everyone has different circumstances, so I don't think it's our place to question these things. One thing I will say though is that most people put down at least £20k on a house deposit, so people with that sort of money in the bank are fairly common.
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