Right Now Is the BEST TIME EVER To PAY CASH FOR A CAR

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A new year means new opportunities: CASH BUYERS, REJOICE! Buying cars (new and used) with cash will only get easier and easier this year. Ray and Zach fill you in on why this is, as well as why you don't have to hide your cash-paying tendencies during negotiations anymore.

[CarEdge]

Thanks for watching and Happy New Year!

[cheezybred]

Cash is always king on depreciating pieces of metal and rubber

[camgere]

If they know you are a cash buyer and there will be no interest rate pack, they will just find another way to stiff you on the back end in the F&I office. Lower trade-in, additional dealer markup, paint protection, fabric protection, extended warranty, pre-paid maintenance, nitrogen for the tires, etc... Whenever they ask what payment I am looking for, I always go stupid and say, "I know you guys can estimate that really accurately, but I can't figure out a payment without knowing the financed amount". Then I pay cash.

[henrikhkarpynskyi]

My last experience from week ago - sales didnt even ask about how we going to pay for it. When we agreed on price - finance guy came over and didnt push any financing, just simply asked if we going to need a loan or not.

[theguy]

Not until prices come down. I paid cash for three late model muscle cars and a new camaro last year and sold them to caravana for a profit. Despite what you guys say, I'm not seeing prices come down in my area. I'd buy another one, but dealers aren't budging on price, especially if they know they can't screw you on financing and add ons.

[FLP]

Honestly prices only seem higher right now than they did three months ago when I started looking… And used prices are still just as high as new. It sucks

[jomama]

With interest rates quoted between 3.99 and 6.49% before any initiation fees, paying cash for our 2023 Outback was a no brainer. From asking $3k over sticker a year ago, it was completely stress free getting our dealer from $1500 off to $2000 off MSRP. We’d typically finance a portion through our CU, but they were a point above the manufacturer’s finance arm, although with a lower initiation fee.

[mherebrilian]

And also I think manufacturers need to bring more affordable cars even if comes at a cost not having all the modern gadgets sometimes we just need a car to take us from A to B

[undisgraziato]

Just bought a 2023 Civic. The dealer was $500 short on what I wanted for my trade in. My wife was at the dealership while I was in Vegas. I told dealer that she was going home to get cash and no trade in. Then he upped the trade in price and we bought the car with cash for the difference.

[Nitrousbird]

More bad advice. DO NOT tell them you are paying cash, even today. Let them know you have excellent credit (don't let them pull your report though), and you are willing to finance with a down payment. If they ask how much, just let them know it depends on what kind of finance deal they can give you. Once you get your out-the-door price, go into finance and write a check. Dealers want to play dirty - no reason not be play dirty yourself. You are asking for a worse deal letting the dealer think they will make nothing in the finance office.

But better yet, if buying used, private party. New, find a high-volume dealer (even if you have to fly several states away), as you will typically get a better price.

[shericegillespie]

Hard to believe, I've been to several dealerships with 18000 ready to buy. I was laughed off the lot or shown super high mileage or told they had nothin% in that price range

[AnhH]

I remember back in 2010 my old man paid 0% APR for a Camry. Dealers were desperate to sell. We end up using the car to 250k and when we seek, we always sell it to our relatives or give it to a younger cousin.

[whocares]

You have clarified a question i posed on another of your videos about whether or not to tell a dealer you are a cash buyer up front in the negotiations. Thanks for clarifying your updated philosophy with which i agree .

[willgranbery]

Rate my 1/2/23 deal: 2020 RAV4 Hybrid w/ 60k miles. Listed at 28, 900. Negotiated sale price down to 27, 250. I struck the doc fee at the end and they wouldn’t take it. I told the sales manager on my way out, “shame to lose a customer over the doc fee.” He said, “Give me 2 minutes”. Negotiated my trade in after that and sole my 2011 Escape w/ 175k miles for $1, 000. Final OTD was 29, 151 cash.

[chiane]

I need to buy a used car now (Porsche Macan). I am paying cash. You say in 2023. Do you mean RIGHT NOW in 2023, or somewhere down the road in 2023 to say “I’m paying cash”? I’ve watched so many of your videos about withholding that info, I don’t know what to think?

[nala]

If you tell them that you are a cash payer, do not expect to get a discount. The dealership makes money off your interest rate too so tell them that you are financing it and you will get the pricing down. After about a month, call up the lending bank and pay it off. This will make the dealership mad cuz you pulled one up on them. Take it from a former high volume dealership sales guy.

[CageyLeigh]

I’ve got $40k in a separate checking account that I saved specifically for a long overdue new car. I want an Accord Hybrid - can’t find one. I’d settle for a Toyota Camry Hybrid - can’t find one. Maybe even a new Civic or a new Corolla - can’t find one. Cash may be king, but inventory is everything, because it’s nonexistent.

[tomroderick]

Some of your previous advice was to go ahead and negotiate on a new car for financing through the dealer, being sure that there was no early payment penalty, then after your first month pay it off with cash. Does this still apply in 2023?

[kevind]

Half way through 2023, do you still recommend the approach of being straightforward about being a cash buyer?

[gsadv]

100% correct. I"m a cash buyer...period.