I was astonished to come across a blog article where the author claimed that car dealers had tried to charge her more for paying in cash than if she used dealer financing.
While wheeling and dealing, come to find out, if you will finance through the dealership, they will cut you a deal. Nope, no discounts for cash. They really don't want cash, who cares that you've been saving for years knowing this time would come.
. . .
When I mentioned cash, this competitor told me it would be an extra $1,000. Thinking my hearing was going out, I asked, "So, it's $1,000 discount for cash?"
"No, actually, it's an extra $1,000 cash. Instead of $13,988, it would be $14,988."
There's more at the link.
I haven't purchased a vehicle from a dealer since 2005, but back then cash discounts were the norm. Have things really changed so much in today's market? Can any other readers confirm that they've run into the same thing? If so, please let us know in Comments.
BTW, if you're looking to buy a car, there's a ton of helpful information out there. Check out these articles for starters.
- Ten new car options that are total rip-offs
- 10 Dirty Car Dealer Tricks
- Beware of the Car Dealer Fees and Hidden Costs
- Save over $1000 by saying NO to car dealer installed options!
- Car Buying Guide (a very useful collection of articles and links - recommended).