Buying a Used car with cash

[Thremp]

Cars aren't really designed to go much beyond 75k-125k depending on how hard the driving and mileage is on the vehicle. All the parts do have a finite life expectancy. Though all miles aren't created equal by any means. Someone who is driving around the city all day delivering stuff may put 30% of the miles someone who is just driving long distances back to school but do far more damage to an engine.

Cars b complex.

[krishan]

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I just bought a car from car max with cash. I didn't ask for a discount. Nor did I dicker for advertising payment for the bumper thing.

Krishan

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This is a great help for me. Thank you for posting.

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Perhaps you aren't thinking second level. You post about buying a car w/cash potentially from carmax. The point of my post was to give you or anyone else a chance to ask about the specific questions about the process at carmax.

Krishan

[Jimbo]

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pro,

Usually there is an early payment penalty. But you can almost always pay it off in 3 or 6 months.

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Bah!! Sounds like a hassle. I'll likely just buy it and be done with it.

Thanks for all the help everyone.

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Haven't seen an auto finance contract with a prepayment penalty in over 10 years. Nor one using the rule of 78, all should be simple interest.

Jimbo

[ElPhoenix]

I JUST bought a used 2002 Honda CR-V EX with cash 3 days ago (ty poker). Sticker price was $12995, blue book on that car w/ features and miles was $14030, and he mentioned it had been on the lot for 2 months so I knew that they wanted to get rid of it.

After I inspected it, looked at the Carfax and repair record and test drove it, we began to talk about pricing. He tried to sell it to me for sticker, stating it had just been reduced but I lowballed the [censored] out of him and said, "I've actually got a few more dealers to check out, and about a month to find a car. I was looking for something around $11,000." None of this was true, I WANTED this car. He took it to the manager and brought back $11599, $1.4k off sticker. I said $11.5k out the door and he agreed. I wrote a check and we were done.

Point of the story is, it's more about the attitude you project and the way you negotiate rather than the financing method you're using. I didn't even mention financing with him, just stated I was financing outside of their dealership and that was it.

Hope I helped

PHOENIX

[prohornblower]

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I JUST bought a used 2002 Honda CR-V EX with cash 3 days ago (ty poker). Sticker price was $12995, blue book on that car w/ features and miles was $14030, and he mentioned it had been on the lot for 2 months so I knew that they wanted to get rid of it.

After I inspected it, looked at the Carfax and repair record and test drove it, we began to talk about pricing. He tried to sell it to me for sticker, stating it had just been reduced but I lowballed the [censored] out of him and said, "I've actually got a few more dealers to check out, and about a month to find a car. I was looking for something around $11,000." None of this was true, I WANTED this car. He took it to the manager and brought back $11599, $1.4k off sticker. I said $11.5k out the door and he agreed. I wrote a check and we were done.

Point of the story is, it's more about the attitude you project and the way you negotiate rather than the financing method you're using. I didn't even mention financing with him, just stated I was financing outside of their dealership and that was it.

Hope I helped

PHOENIX

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Sounds nice! But the fact that you were paying cash had nothing to do with getting a good price. Still sounds good. Good job!