Does negotiating with actual dead presidents help?

Most dealers would rather finance. They typically get a couple of points for writing the loan. In other words, if you pay $XXX cash for a car they make their markup. But if you finance a portion of it they make the markup plus few more bucks (1% or 2%) on the amount financed as well.

 

Like John said dealers like to finance, but the car with a 8% loan via them with no penalty payoff then just pay it off in a month you will get your best price and they get the inception fee.

I don/t take cash for cars bank transfer is my first choice unless I deal with them on a regular basis
Anything over 10 k needs to be documented by law here in CA due to money laundering things

 

People still use cash?!?...lol. Wire transfer or certified check is the only way I deal. and usually the simple fact that you are a serious buyer is enough of a negotiating point to get the best deal. get a bank letter to verify funds if anything....thats enough to get me dealing....

 

If you are dealing with an individual it may help. Otherwise, you will look like a drug dealer.

 

Partial cash can help (private seller)

1, they can write you a lower sales receipt

2, if they would be getting more for the car then they paid, they can offset any capital gain

 

Cash is nice but it won't get me to give you the car for less. I'll always have a set price I'll take doesn't matter how you pay. Wire transfer or cash same price.

 

I'd have to say that large wads of cash in a briefcase/suitcase/carrier bag etc., would probably make Me suspicious/concerned as to the legitimacy of the money and where it came from!

The buyer could be someone more honest than the Pope but I don't know them so I'm not going to automatically trust them!

As for a seller accepting £55K in cash for a car being advertised for $65K, that all depends on the seller and their particular circumstances.

If they want a quick sale then it may be possible, but if they're convinced that someone will pay the asking price and they can wait, then it isn't going to happen (don't forget that currently, the value of these cars are on the up, so chances are, sooner or later someone will pay the asking price, and $10K is not a trivial amount of money to most people!).

The last time I sold a car, a buyer offered Me a fair bit less than the asking price "for cash!", and so I informed him that the price was that advertised, not what he was offering.

His response was: "Yeah! - But this is cash!", to which I replied: "Cash, cheque, money transfer, whatever, it's all the same when it goes into My account! The price is the advertised price! When you buy a newspaper do you offer the shopkeeper 2/3rds of the advertised price for cash? If you don't want to pay the price, someone else will!"

 

I've sold my last 3 daily drivers to people who showed up with cash in hand. I think cash works --- but only up to a specific selling price ceiling. For example, as stated above, if someone showed up with $100K in cash, I would be suspicious of counterfeiting. However, when (for example) a teenager and his parents showed up to buy my M3 with $19K in cash, I was not worried.

On the next round, I sold my Tundra to a young guy who came with his wife and infant daughter. The husband and I talked bargained on the selling price, then he moved off to the side to talk to his wife in Spanish and I could tell she was not happy with the deal. She took over, brought out the cash, and started to bargain hard. I dropped my price by $500 on an $11K sale because they were ready to buy the truck on the spot.

Summary: I think cash absolutely creates additional bargaining power on low priced cars, but probably not on higher priced ones.

Good luck on your purchase!

 

OP: Everything is negotiable. I would venture that 100% of all people (even those here who claim otherwise) are swayed by cold hard cash. The degree of persuasion might vary person to person. Keep in mind even the most stubborn or difficult seller who claims (that's a price is set and that's how much it will cost) is still selling the item your interested in for a reason. That reason is MONEY! Think about it, if money was really no object, why would they be selling in the first place? To clear room? To be generous and pass on an item? No! Its all about the money. Always has been/always will be. Fact is many people don't know how to negotiate and/or rather not be bothered so they set a price and call it a day.

 

Sorry but I've sold many a car due to the fact that I became bored with them and simply wanted a change.

There was nothing inherently wrong with the cars and I wasn't desperate for money so I've stuck to the price I was asking and did not have to drop the price, I simply waited until a buyer came along who was happy to pay the price.

Your statement that people only really sell cars due to money is far too simplistic and inaccurate!

Again, in My own personal case that's not true!

When I've sold cars I've known the market value of the car, I've known the price I want for the car and that's the price I will accept.

All of the cars I have ever sold have been priced with a "no offers" clause (and yet strangely enough, people are still surprised when I won't accept a lower offer!).

I know how to negotiate (the only car I've ever paid the asking price for is My 348, and that's because when I bought the car, the prices were climbing fast and the supply was so limited that there was no room to negotiate the price down), but if I meet someone who doesn't want to negotiate, and their price is not one I'm prepared to pay then I move on (plenty of more fish in the sea and all that [unless it's a 348 TS!] ).

"Can't be bothered to negotiate"? - Not really, I simply don't see the need to negotiate when I've already set a competitive price for My car.

Here's how I work it:

Rather than set an artificially high price on My car for sale so that it can be negotiated down to what I really want for it, I set the price at what I actually want for the car.

The price will not be the highest of all (unless I really believe My car is the best available), and it will rarely be the lowest.

The price will be what the market says that the car is worth - You want a bargain? - try someone else!

 

I had someone try to buy my 1973 Carrera RS from me last year with a Louis Vitton bag of cash. Seriously. He tried to use the tactic that I could "fib" on the capital gains. Seriously. It was so unbelievable. Regardless, I sent the guy packing and at that point, even if he wanted to wire me the money I would refuse as that's just not someone who I would feel okay doing any sort of business with.

As far as how negotiable is a car, I guess that depends on the car and the seller. You should do your homework and know what the right price is. Be prepared to pay the right price, not steal the car. Here's an economics lesson that people fail to realize:

Everything is worth something to someone. The more people that want something, the more it's worth, all else being equal. When something happens that makes said item less desirable - off color, options, salvage, etc. - less people want it. The equalizing principle is price discovery. The car isn't worth it to you at "x" but it is worth it at "x-y." That's where bargaining comes in but it's usually on the part of the seller, i.e. "okay, mister. I'll drop the price to here just to get a deal done." If the seller has something highly desirable, he usually doesn't drop the price because he knows there are plenty of buyers out there. All he has to do is wait. But then we get into the "time is money" thing, etc.

Outside of all of that, some of us only want certain cars and know we have to pay to get them. When I started collecting cars, one of the best pieces of advice I got is that you can never overpay to get the best of the best. It's true. The best cars are worth the premium and when you have the best car in a certain category. I have a few "best of the best" cars and I have never once regretted what I have paid to own those cars.

Anyway, the point is that you should know what the car is worth, roughly, and be prepared to pay that. Don't think that you're going to save money buying the car for less that it's worth.

 

Did you sell those cars for money? I rest my case. I've sold cars and aircraft for a living. Everything is negotiable.

 

Well stated.

 

Of course I sold them for money (that's how the World works!), but I didn't sell them because I needed money! (not even to buy the next car - they were bought with money I already had!).

As I say, the sale of the cars wasn't about the money, it was about being bored with the car!

Come and try to buy a car from Me and I'll prove you wrong!

 

I have a friend in Las Vegas that owns a Ford Dealership.

Team Ford Lincoln | Ford Dealer | Las Vegas

He will absolutely not take cash for payment in full on a vehicle.

The FBI, and or Treasury Department will show up while your paperwork is being completed.

Poker players keep their money in a casino safe, or have a Marker rating.

If you showed up at my home with a briefcase of cash to buy a car, I would hypothetically make you disappear in the desert.

DISCLAIMER: This is only a screenplay scenario.