Should you ever pay cash for a brand new car?
I have friends who insist on paying all cash for even a $35,000 car.
With financing as low as 2 percent does this make good financial sense?
Yes Dealers still will say cash is King, I have seen a few Dealers give some very good deals with a cash only transaction, plus it elemanates a fare amount of paperwork.
Yes, well, its the same as if you finance it through your credit union and have them cut a check to the dealer, they treated me as a cash customer. They were disappointed that I didn't finance it through them, they would have made more money that way.
It depends. If you believe that interest rates will inevitably recover then long-term cheap money is an especially good deal. Dealers absolutely do not care...unless, as Mark said, they're handling profitably the note. FCUs, S&Ls and AAA have been my suggestions to my clients for 30+ years, as I do NOT condone dealer financing, as you're not apt to be protecting your client from being upside down in what should be a mutually-beneficial good faith contract. Just ask Barney Frank or Robert Reich....
Cash is better if you can afford it. All the money you pay in interest can stay in your pocket! HTH. -Jim
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