A2H GO
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Registered: 14th Sep 04
Location: Stoke
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Are the days of getting a good deal by paying for cars with hard cash gone?
Nowadays traders get a better deal when selling cars on finance, meaning they have more room to negotiate on price etc.
My mate's company gets £1200+ rebate from black horse for every car they sell on finance, which goes towards his commission so they basically ignore people who want to pay cash.
He had a bird in from Hollyoaks the other day to buy a £18k mini, she said she had the cash to pay but he convinced her to have finance and was therefore able to knock some money off the car.
When I bought my car the dealer was trying to tell me there was a cash price and a finance price. The finance price was somewhat less.
I take it there's no law against this? 
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Jamie_Hastings1
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Registered: 14th Aug 08
Location: Sanquhar, Dumfries and Galloway
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My sister went to buy a car cash and they advised her they couldn't take large amounts of cash as it could be money laundering. They days of walking in and try get money off because its a cash sale are past.
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Toby
Premium Member
Registered: 29th Nov 05
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i was told by a salesman that he earnt his bread from finance, he could offer a couple of rates but generally the cheaper rates were offered on the more expensive cars to help balance out the money he would earn
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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When I say cash I don't necessarily mean physical cash. I mean pay on card, or with a loan from your bank etc.
In my case the amount he was reducing the car by (which was quite considerable) was far outweighed by the additional interest I'd would have been paying on the finance, goes without saying really.
[Edited on 04-08-2011 by A2H GO]
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Hammer
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Registered: 11th Feb 04
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Salesman earn their dosh through finance because people are stupid.
You normally get money off, a higher price for your trade in and then fucked up their arse for loan interest.
Such is life I suppose.
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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I remember the days when you'd walk into a garage with £10k cash to buy a car and they'd snap your arm off. Nowadays they turn you away.
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ShEp
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Registered: 9th Aug 05
Location: Dingwall, Highland
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Finance has always been the way the make the money.
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richardworrall
Premium Member
Registered: 20th Sep 05
Location: Derby
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thats cus they now wait for you to take the cash to the bank and nick it back of ya 
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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Sort out price then discuss how you are paying for it. Personally never come across one price for cash, one price for finance.
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by mwg
Sort out price then discuss how you are paying for it. Personally never come across one price for cash, one price for finance.
I think you'll find most traders now ask how you're paying before talking numbers.
Could always say finance, negotiate a discounted price and then say cash but likelyhood is they wouldn't accept.
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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Last car I bought was 8 months ago so maybe its changed since then.
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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quote:
Originally posted by mwg
Last car I bought was 8 months ago so maybe its changed since then.
Main dealers may be a bit different as:
1. they make a fortune either way.
2. the finance is usually their own anyway, eg. Mini = BMW Finance.
[Edited on 04-08-2011 by A2H GO]
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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Yeah, doubt they would have different prices for brand new cars depending how you are buying it.
I could believe that happens at an independent garage selling a 2nd hand car though.
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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I did that Matty G - I talked money with the dealer then told him I had the capital up front to pay. Didn't want cash though so I put a 5 figure sum on my debit card
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Daniel_Corsa
Premium Member
Registered: 21st Apr 04
Location: Wigton, Cumbria
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quote:
Originally posted by mwg
Last car I bought was 8 months ago so maybe its changed since then.
Lloyds Mini also never asked how I was paying for TT, paid deposit on card, cash from corsa rest in form of a cheque!
Haggled price before saying how was buying!
April '06' Corsasport Feature Car  | Aug '08' Total Vauxhall Feature Car | Spring '09' Fast Car Feature Car
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antnee
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Registered: 30th Dec 07
Location: Cov Drives: Clio 197
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Cash FTW, saying that I tend to buy private.
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LeeM
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Registered: 26th Sep 05
Location: Liverpool
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if theyre offering a better deal for finance and the payments all work out less than it would if you paid cash just set up a new bank account and put the money in there with the direct debit set to that account, then forget about it? better deal and it will increase your credit score in the meantime.
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Twiggy
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Registered: 15th Oct 04
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I was doing a deal on the mondeo and i asked whats best for cash and he said nowt as there is no money in the cars its all in the finance.
Not just cars... The mrs works for currys and she gets nobbers in asking for the "cash price" on that tv
Also that its a pain as they have to pay the cash in/get it picked up which adds to the hassle....
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Mark.W
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Registered: 3rd Jan 07
Location: County Durham
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I found it hard getting a good deal paying cash when i bought the astra 6months ago.
They want everyone to get a car on tick nowdays.
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R Lee
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Registered: 15th Aug 03
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I've noticed this too actually.
At a garage, they ask you how you'd like to pay.
Answer them "with cash" and they don't seem to be too happy and willing.
I didn't realise finance made up so much money for them.
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Fro
Member
Registered: 20th Jun 06
Location: Rainham, Essex Drives: A3 2.0TDi Sport
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Had similar to this when buying the 350.
Kept trying to make me get a more expensive car than i wanted just so they could get me on finance.
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Graham88
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Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
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This covers all the reasons I hate car salesmen. I'll buy the car I want, not the one they want me to buy.
quote:
Originally posted by LeeM
if theyre offering a better deal for finance and the payments all work out less than it would if you paid cash just set up a new bank account and put the money in there with the direct debit set to that account, then forget about it? better deal and it will increase your credit score in the meantime.
Yeah definetly, that's the way I would do it. However it would have to be a significant amount cheaper to be cheaper doing it by finance as going rates at the moment are ridiculous.
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Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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Finance is poo, buy privately (with an AA inspection and a separate warranty) and everyone's a winner (apart from the dodgy car salesmen) 
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thegsi
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Registered: 3rd Feb 07
Location: Kidderminster Drives: Evo (you can't afford one)
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My Dad and I went into the local Jag dealership a few years ago. They had a brand new Convertable XKR in there. Full spec, 22" alloys, the lot. It was £70,000 IIRC. Firstly, they would hardly talk to us and gave us dirty looks because we were in our roofing gear. When one member of staff finally came over, they were instantly stand-offish and very rude when my Dad asked about the car. Once he actually looked around etc. he said to the guy, "Yeh OK I'll take that XKR" The sales pitch then came out regarding finance packages blah blah. My Dad said "Na not interested in finance, I will buy the car for cash outright now" They just didn't wanna know and the pitch dropped instantly. We couldnt believe that he had offered to pay £70,000 no questions asked and they practically told him to fuck off!
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R Lee
Member
Registered: 15th Aug 03
User status: Offline
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£70,000 and told to fuck off
How much more would they have made on finance?
Salesmen are vultures.
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