Auto loan delinquencies just hit a 15-year high. Consumers are skipping car payments, signaling deeper financial stress. Markets haven’t priced it in yet.
My wife and I only buy a new car with cash and a trade in. I see what the value is based on the year and mileage. Go on knowing what I want and what I want to pay. They say no, I walk out and get a call from them later. It’s a fucking cash offer they will take a loss just o move inventory and gain a used car they can sell.
Having worked in the car industry (I got out after selling for a year, evil business), they don’t care about cash offers. Cash is less good to them, they WANT you to finance, if not through them (most preferred) then through another bank. Cash deals make the seller no extra money, and you’ve already advertised that you’re not willing to ‘play the game’ about the price. We were told to give people with cash deals less of our time and effort. You buying a car at a fair price is still a win to the dealer’s bottom line, and you might catch a salesman who has a quota to meet so he’s desperate for any sell, but most I met didn’t give two fucks if you walked away from a cash deal
Well my anecdotal evidence has so far been 100% accurate. I’ve done this 6 times between my wife and I and even before I met my wife. All 6 times they have called back a few hours later and said they will accept my cash offer.
MSRP - trade in value(rounded up) = maximum I will pay. I’m 6 for 6 on this.
My wife and I only buy a new car with cash and a trade in. I see what the value is based on the year and mileage. Go on knowing what I want and what I want to pay. They say no, I walk out and get a call from them later. It’s a fucking cash offer they will take a loss just o move inventory and gain a used car they can sell.
Having worked in the car industry (I got out after selling for a year, evil business), they don’t care about cash offers. Cash is less good to them, they WANT you to finance, if not through them (most preferred) then through another bank. Cash deals make the seller no extra money, and you’ve already advertised that you’re not willing to ‘play the game’ about the price. We were told to give people with cash deals less of our time and effort. You buying a car at a fair price is still a win to the dealer’s bottom line, and you might catch a salesman who has a quota to meet so he’s desperate for any sell, but most I met didn’t give two fucks if you walked away from a cash deal
Well my anecdotal evidence has so far been 100% accurate. I’ve done this 6 times between my wife and I and even before I met my wife. All 6 times they have called back a few hours later and said they will accept my cash offer.
MSRP - trade in value(rounded up) = maximum I will pay. I’m 6 for 6 on this.
Wait is this a joke? Was this a King of the Hill episode?