Need advice paying cash for new truck

I would never have a bank savings account. 1.45% is a joke. I have my savings in mutual funds. Much better rates.

 

I would mostly agree with you. Its why I labeled as not impressive by any means. Its way better than a brick and mortar bank at 0.10%. Anyway, personal preference to keep a certain amount of cash not subject to potential market losses. Doesn't mean there isn't also cash that is subject to the market as well.

 

Cash buyer here, agree on the price and pay the cashier when the deal is in paper

 

yep, no brainer here. My dividends earn 3% after tax

 

Just to add to this exciting thread my best friend just bought a new 4-Runner at a local dealer with a cashiers check and they let him drive it home. Their policy is if you pay with a personal check you can't take the vehicle until the check clears in 3-7 business days. Fwiw it's a large dealership that has been around forever and that's their hard rule, no exceptions, as he called their bluff and they let him walk out with the personal check in hand and he had to go get a cashiers check to take the car that day.

 

Sweet! I like this idea.

 

Well back in '01 I remember I put down $2000 cash on my Tacoma, then the salesman followed me in my new truck, with his car to my home in San Bruno from Putnam Toyota in Burlingame where I wrote him a check for the remainder. This was because I did not have a check with me at the time I was truck shopping.
With my RX350, Serramonte Lexus took $3000 from my credit card and I had a check with me that I wrote for the remainder. I suspect they did the card thing to "secure" the check clearing thing. They also initially did a credit check which I cannot figure why since I was paying cash.

 

I couldn't find JaCado's post that you quoted but yeah that is a smart thing you said JaCado. Wish I did this with the RX maybe I could've gotten a better deal.

 

I work at a dealership. If paying cash let them think you are doing 100 percent financing. Don't do the warranty scam nor the maintenance scam. Seem interested in them but don't do them. We did the numbers at our work the other day. If done right can save about 5k. If you seem iffy about those they nock the price of the vehicle to try n get you into them. Sure you got to listen to alot of bs about them but it's worth it to save 2k. They know if you walk out the door with out a deal the chances of you coming back is slim so use that to your advantage. Also get low ball prices from nada, or other online pricing sites.

 

Really??? I came here to ask for advice for those that have paid cash. I see there are some knowledgable people on this forum that is why I am here. I do not live in my relatives basement. I work hard. No need to bash me.

 

Yes old farts are in the house. It took me 40 years to get to this point.

 

Statistically speaking for overall population, it is impressive someone has that much cash. Most don't. Might not be statistically impressive given the demographics of this site.

 

Most dont that are below 40. I did not and I am one of them. Hard work and dedication can go a long way most of the time. I deserve this imo not everyone else's opinion. This might be sad but it has been a goal for about 10 years to pay cash for the truck I want. I'm not rich and I dont depend on others to get me the stuff I want. I will basically go off roading and pull a small boat with this truck. I will fish my arse off and off road my arse off on my free time. Those are the 2 things in life I love.

 

IMO do what you want. If you have the cash and it's not going to put you in an untenable position if you have a life emergency, go for it. I'd do what others have said, negotiate price and then spring the cash on them at signing.

If I'd have known the 0.0 APR @ 36 mo/ was regional I probably would never have gotten into this thread in the first place.

 

I've paid cash for my past 3 vehicles. I always ask how much I can put on a credit card, then pay it off the next statement. Excellent for airline miles & cash back!!!

Plus if anything goes sideways posy-closing, you have leverage to dispute.

I bought my 18 Tacoma last week. I put $7,500 on a credit card, then paid the rest cash. Then I put the ext warranty & oil change vouchers on a separate CC transaction.

 

I just did the same thing yesterday. We think alike. I put 5.5k on the card for the points (points will pay for my new power pole), and cut them a check for the balance..

Op-
I bought my truck over the phone via internet sales. My advice is call every dealer within 50-100 miles of you and tellem exactly what you want, how much you are willing to pay OTD, and oh yeah, you dont need any favors cause you will be paying cash, thank you very much. Let them figure it out, i dont give a shit how they wanna tally it up. Ive never been one to beat around the bush, especially with money in my pocket. In my opinion, you hold all the cards. Out of the 7 dealers i was dealing with via txt, 2 ended up giving me EXACTLY what i wanted (and my ride needed to be orderd, got one plain jane, mt, quicksand). Never stepped foot in the dealership till i picked up my ride. Took 1 hour exactly. Im a happy camper.

 

I just negotiated the price, saved $2106.00 off of Toyota's MSRP base price. I thought that was a fair deal and it was from my local dealer which is a very good dealership to deal with. The dealer added tax, tag, and, title and also had to go 800 miles to get my 2018 Tacoma TRD Sport 4x4 loaded with options and both packages. I also got free oil changes and tire rotations for 4 years. I paid for it in full with a cashiers check. The most important thing is to do your research on the exact truck that you want with all of the options that you want. Go to Toyota's website and build and price the truck you want, and print out the summary. That will give you the MSRP base price. Bring the summary with you to the dealer. Then start negotiating on the price, get it down as low as you possibly can and then say thank you and just get up and start to walk away to leave the dealership. The salesman will not want to let you leave and usually their price will go down like magic. Always try to buy on the last day of the month, as the dealers and their salesman are trying to reach their monthly goals and they will be eager to make a deal with you on your new truck. Good Luck!!!