AskPatty Certified Female Friendly Logo
Hi, I want to buy a new car(Saturn Vue, Honds CR-V or Element or Toyota RAV-4). I thought I would get a better deal using only cash, but I am not. Is this a myth?

Answers from the Automotive Experts

Jenny Trostel, Partner at Anderson of Hunt Valley Yes, it is. There are great deals now because business has been slow. It does not matter whether you pay cash or finance. Take your time to negotiate and you will get a great deal. Good Luck!

Shelly LoCascio, Dealer Principal  at Irwin Lincoln Mercury Mazda Yes it is a myth. The dealer only needs to get paid for the car. It dosen*t really matter to us if you pay cash or finance.(as long as you can get approved for the loan)We really only want to make it easy for the customer. Shelly LoCascio

Now a day everything IS like cash...the dealerships will either take your cash or cash in a finance contract...either way they get paid. To be quite candid with you, when paying with cash the dealership loses the opportunity to sell you a few more things with a "few extra dollars" in your monthly payment and any extra dollars that they might be able to pick up in your finance rate. In short, you will not get a better deal...the most important thing to do now is pick a reputable dealership that you can trust and you can bring your car back to for your future service needs. Good luck!

Jessie L Thatcher, F&I and Sales Specialist at Reynolds and Reynolds Company  (Retired) In most cases it doesn*t matter if you pay cash. The dealership actually makes more money if you finance or lease the new vehicle. You should negotiate the price of the vehicle prior to disclosing your method of payment. When a vehicle is leased or financed the dealership receives their monies almost immediately so there is no real benefit to your deal because it is cash. It merely limits the amount of profit they can make on the finance and insurance products. Know before you go into a dealership what the cost of the vehicle is to the dealer and what incentives are available to you the purchaser on a particular vehicle. This info is all available on line at many of the sites dealing with the purchase of a vehicle. Edmunds.com is a good example of the type of site you should check out.

Contribute to this question:


blog comments powered by Disqus

Related Saturn Vue FAQs



Need Car Advice?

Ask The Experts!

Find Cars For Sale

Help Our Charities