Need advice paying cash for new truck

Where have you been the last 3 pages, lol.

 

I tried putting the entire $13,000 down payment on the CC but they only let me go up to $1500. Pissed me off I was really hoping for that nice credit card perk. So we ended up writing a personal check.

 

Current 1 year treasury note is paying 2.34% you collect 2.34 pay 1.9 and pocket the difference. Obviously the gain is minimal, but year 1 should generate a c note. Give or take.

 

I tried the same thing, but got $3500 on my card for points.

 

Ask to see factory invoice. The invoice for Toyota is usually 2% over dealer cost. That 2% is usually untouchable. Get as close as you can to that figure. Dealer invoice does not include dealer included options.

 

That is correct.

 

What a frickin hassle for a few bucks.

 

Just a short analysis. I think people do not read the whole post. Why would financing be better?? Its not if you can pay cash why not pay cash if you can??? My credit is good but does mean I will pay you more for interest and fees. It makes no sense to me to not pay with cashier check. I do not care if it takes up to 10 days or 2 weeks to clear. My goal of this thread is to ask those that have done this before. I know not to tell dealership upfront that I can pay cash. I know I will drain my funds for something I really want. I could get a dodge, Chevy, or a ford. I just do not want them peroid. I'm trying to negotiate with dealer and wondered about others that have paid cash without needing a lender. My ultimate goal was to avoid extra fees. I just want other peoples experiences that have done this. I think cashier check from bank is the way to go. Yes I will suffer if I have to wait for a week for check to clear but I'm good with that.

 

Lets see never had a deal where it mattered financing or paying cash

Back a few years ago you could bitch about the dealer fees and threaten to walk if they charged them. Now there pretty much SOP and hard to get around. You sometimes have to find a dealer who's fees are with in reason. Also my local dealer allowed me to use a personal check and didn't have to wait for it to clear.
Depends whether you've been doing business there.

 

As to the orginal question.. I've never got into payment vs financing until the price was agreed upon. If they ask i let them think financing with them is an option.

Good luck and enjoy your new ride

 

avoiding this place.

 

My game plan. I think I should visit 4 to 5 dealerships. The one that agrees sells me a truck. They will take my cash or I walk. It's common sense should not have posted here. I'm on the east coast and Tacoma is a dime a dozen within my 200 mile radius. I was just confused on how to pay cash. Cashier check appears to be the way. Thanks guy/gals for input.

 

Typically you get a better deal if paying cash so I have no idea why advice would be to not tell them.

Use it to your advantage. Its less grief on their part when you pay cash.

By the way. Good for you. Enjoy your paid for Tacoma.

 

I would do it all from my living room by email. Tell them exactly what you're looking for. See who has the best price. Walk in, drive, pay be on your way. My entire deal was a little over an hour and a half. And that's saying no to the extended warranty 5 times.

 

I agree with you. I purchased a used 2017 SR5 in April.
IMO, Interest cost sucks! I also set aside $600. every month to offset my next purchase. My last purchase was a new 2010 'Fridgeline'. (I Know, I Know, but it never failed me)

 

We did this with my wifes Highlander. Put 5k on both of our cards and then got a cashiers check. Why not get the points and cash back for a large purchase.

 

Dealerships get kick back in financing, so paying cash doesn't net the best for dealerships. If you're paying cash, always keep it close to your chest until agreed upon price.

 

That's great info and I appreciate it. Why would I want to walk to mailbox?? I own it title in hand cash money. Educate me why I need to walk to mailbox?

 

Negotiate everything as normal, no games, there is no benefit for the dealer to sell cash, they prefere to finance and they can finance to almost anyone. Have a cashiers check for the out the door price minus maybe $800. Bring that portion in cash to square the bill in case of difference at the end. Hint, check every number. Since there will be no Lien the title fee may be different (60 vs 85 in NJ). Chek all of your fees and dealers add on, as they may try to pull one. I paid cash for a car last year, the try to charge me PA fees while I was buying in NJ. But that can happen in any deal pay attention to all fees. I put the numbers in a a spreadsheet to make sure that total matches. In a big transaction is easy for them to squeeze in a couple more $100.
I like buying cars...

 

To get your mail?

Putnthe cash in treasuries... Collect more intrest than you pay out. Win. Pretty simple math.