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  #31  
Old 07-07-17, 09:43 PM
chs1971 chs1971 is offline
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Originally Posted by eastside_purple View Post
I was speaking about the dealership,
Yes, I know. It's still obvious that they will make more money on a purchase they finance. Seems pretty simple, no "study" needed.
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  #32  
Old 07-07-17, 09:56 PM
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Originally Posted by chs1971 View Post
Yes, I know. It's still obvious that they will make more money on a purchase they finance. Seems pretty simple, no "study" needed.
The dealer isn't financing the deal. Anyway, the study/articles/whatever are just letting consumers know dealers aren't giving a better price to people who pay cash. It makes no difference to them and actually they get kickbacks to direct buyers to financing, so if anyone is getting a better price it's those financing.
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  #33  
Old 07-08-17, 08:21 AM
tallmadge H2 dad tallmadge H2 dad is offline
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Originally Posted by Neopolitan View Post
Spoken like a true peasant.
There are many ways to buy or finance a vehicle. Any of which could make sense depending on ones intentions for the vehicle and financial situation. There is no one right way to buy or finance a vehicle. Buying a used car cash is not the only option and sometimes not the best either. Your narrow minded opinion on this subject along with your generalized "peasant" comment actually speak volumes about YOU.
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  #34  
Old 07-08-17, 08:45 AM
Neopolitan Neopolitan is offline
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Originally Posted by tallmadge H2 dad View Post
There are many ways to buy or finance a vehicle. Any of which could make sense depending on ones intentions for the vehicle and financial situation.
Agreed. If you have the finances of a peasant, it might make sense to lease a used vehicle or take over someone else's lease.
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  #35  
Old 07-08-17, 10:49 AM
chs1971 chs1971 is offline
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Originally Posted by eastside_purple View Post
Anyway, the study/articles/whatever are just letting consumers know dealers aren't giving a better price to people who pay cash.
OK, we're on the same page.

The last time my son bought a truck (used, but still two digits left of the comma) he offered to write a check or bring in a stack of $100's. The dealer told him to write a check so he could avoid the paperwork required by the bank reporting laws dealing with money laundering/drug sales.
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  #36  
Old 07-08-17, 11:36 AM
OhioBobcatFan06 OhioBobcatFan06 is offline
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From a purely financial standpoint, I agree that buying used and driving the vehicle into the ground is the smartest move. I've driven the car that I just blew my engine on since college. I'm glad I did not give into the urge to drive something newer/nicer.

Buying a used vehicle again is an option, but this time around I do not plan on driving this vehicle in 5 years because I plan on buying another vehicle with autonomous capabilities by 2020. As others have said, vehicles 1-2 model years older come with roughly a 7-10k discount at least. Which is precisely why I'm looking at leasing one of those vehicles considering the timeframe I want this vehicle for.
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  #37  
Old 07-08-17, 12:35 PM
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I think it sounds like a great option for you.
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  #38  
Old 07-08-17, 05:03 PM
tallmadge H2 dad tallmadge H2 dad is offline
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Quote:
Originally Posted by eastside_purple View Post
I think it sounds like a great option for you.
Exactly. It all depends on the situation. Personally, I would not take over someone else's lease and would probably never lease a used vehicle. However, I certainly would not begrudge someone that chose one of these methods based on their situation. I certainly would not call them a peasant.

Last edited by tallmadge H2 dad; 07-09-17 at 02:52 PM.
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  #39  
Old 07-09-17, 08:37 AM
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Originally Posted by OhioBobcatFan06 View Post
...in 5 years because I plan on buying another vehicle with autonomous capabilities by 2020.
good luck with that
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  #40  
Old 07-09-17, 08:43 AM
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I've bought/leased 12 cars in my life, 9 were new, 1 like-new, and 2 "beaters".

If I did not quite have the means for new cars, I would buy (not lease) a low-mileage used car and keep it 8+ years.
However, for me, leasing every 39 months or so has made sense in recent cars. No mechanical worries, simple maintenance, new car smell, new features/toys, etc. I got the dough, need to spend it somewhere. If personal economics change, my commitment is low and I can move down to a better $ value later.
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  #41  
Old 07-09-17, 08:43 AM
cabezadecaballo cabezadecaballo is offline
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good luck with that
There will be choices out there. Widespread and harmonious use is another matter entirely, though.


I can't wait to cut them off in highway traffic. I hope that there are distinguishing markings
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  #42  
Old 07-09-17, 08:47 AM
cabezadecaballo cabezadecaballo is offline
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I've bought/leased 12 cars in my life, 9 were new, 1 like-new, and 2 "beaters".

If I did not quite have the means for new cars, I would buy (not lease) a low-mileage used car and keep it 8+ years.
However, for me, leasing every 39 months or so has made sense in recent cars. No mechanical worries, simple maintenance, new car smell, new features/toys, etc. I got the dough, need to spend it somewhere. If personal economics change, my commitment is low and I can move down to a better $ value later.
The budget lease with a maintenance schedule is great for a kid's car. There are cheap cars I would lease low mileage but never purchase, because you turn them back in before they are a headache.
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  #43  
Old 07-09-17, 09:03 AM
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I wouldn't feel good putting my kid in one of those economy cars though. I bought a used Subaru Outback for my new driver.
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  #44  
Old 07-09-17, 02:15 PM
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Mine drives a pink 12-Volt covertible
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  #45  
Old 07-10-17, 04:23 AM
cabezadecaballo cabezadecaballo is offline
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Originally Posted by eastside_purple View Post
I wouldn't feel good putting my kid in one of those economy cars though. I bought a used Subaru Outback for my new driver.
Now you did it. You just turned your kid into a lesbian.
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  #46  
Old 07-10-17, 03:36 PM
OhioBobcatFan06 OhioBobcatFan06 is offline
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I have checked with a couple dealerships of one brand in specific and none are willing to lease CPO vehicles. It is make, model and dealer specific. Hard to get info on who offers it/who doesn't and I'm not sure all will admit it early on even if they do allow it. Also don't know if salespeople even know it's an option.

Quote:
Originally Posted by eastside_purple View Post
If available, I always take the 0% financing and keep the money invested and compounding, knowing I'll come out far more ahead than outlaying all the cash at once. Studies show the cash "discount" dealers give is a myth. They actually make more money through financing.
I agree completely with you on 0% financing. I don't think it makes up for the depreciation on going new vs used, but if you're buying new why wouldn't someone keep the cash in their pocket to turn around and invest it?

Quote:
Originally Posted by cabezadecaballo View Post
Use Pentagon Federal Credit Union. Best used car rates around. You have to spend like $20 to join some Military Families' Benevolent Society thingy. Then get the PenFed VISA card. Best gasoline deal out there. 5% statement credit on gasoline and 3% for grocery stores.

You're welcome.
I've considered this before. Was it difficult to join the organization? I'm a big fan of optimizing cash back %'s for each purchases.

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good luck with that
Don't need any luck on this one.
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  #47  
Old 07-10-17, 07:37 PM
cabezadecaballo cabezadecaballo is offline
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Originally Posted by OhioBobcatFan06 View Post
I have checked with a couple dealerships of one brand in specific and none are willing to lease CPO vehicles. It is make, model and dealer specific. Hard to get info on who offers it/who doesn't and I'm not sure all will admit it early on even if they do allow it. Also don't know if salespeople even know it's an option.


I agree completely with you on 0% financing. I don't think it makes up for the depreciation on going new vs used, but if you're buying new why wouldn't someone keep the cash in their pocket to turn around and invest it?


I've considered this before. Was it difficult to join the organization? I'm a big fan of optimizing cash back %'s for each purchases.


Don't need any luck on this one.
Very easy and quick loan and credit card approval. There are two different things one could join to become eligible to participate in this credit union if not a veteran. Also very easy.
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