Anyone else pay cash for their truck?

[rangerhgm]

Watch out for FEES most dealerships will add a pretty steep processing fee to the charge amount if you use a credit card. Last time I asked about using a credit card to pay the difference on my tradein deal at a local dealership they were adding 10%!!!!!! I was interested in getting my 1% back on my rewards card but unwilling to pay 9% to get 1% LOL

I asked about that up front and there were no fees charged by the dealership. We've paid off the cards and no fees were applied. If there had been fees it would have nixed the purchase at that dealer.

 

The last 2 bass bots I purchased were purchased with credit cards and paid in full the next billing cycle.

 

My wife and I have been married 34 years and have never carried any credit charges from one month to the next......have never paid a cent in interest on them.

[duquephart]

Walked in made a cash offer, when I saw his eyes open wide I knew I had him on the line. Paid cash, truck is mine no bills to pay.

 

Dumb. They make more money with financing (spiffs from the lender) and you are in a better bargaining position if they think they have a shot at financing as well. Walking in and making a cash offer is playing your cards too early.

[barry G]

I panic'ed went credit card.

I mean sweating nervous in the wilderness with a 3o year old tin can as my only ride.

So i am looking ta my lap top, trucking with my dad in his kenworth.

I saw a picture on craigslist and knew it was mine. I wanted to buy it over the phone.

It is my 23rd vehicle. I have never lost. (I am a mechanic for life... and now ten year welder)

 

something cheap that would normally be an average persons beater cash sale... I opted for the credit card.

truck is more than doubled in value,

I then since have consolidated the card through a popular military banking (disabled veteran)...0% incentive for 18 months or something.

and now I am giggling.

 

I just shared my next craigslist potential machine.. a 6.5 diesel I found for less than 5k.

extra cab, dually, nv4500 trans. 1998.

needs usual steel chores.

[Emusician101]

Paid 12K down to only finance 20K since dealership gave me higher % rate than I wanted. Last time buying at that dealership. 2 trucKS there always wanna give me 3.0+ rate where other 2 Chevy dealers we've gotten 0% both times. At 20k for 17 crew cab, payments aren't too bad at all!

[Dnt]

For the last 10 years or so I have paid only cash. However, given relatively low interest rates and the opportunity cost, I might consider financing. That said, there is something that bothers me about financing/paying interest on a depreciating asset. It all about how you want to allocate your resources.

I agree with Curtis Lowe if you do not have the cash you probably do not need to be buying anything new, much less a vehicle that depreciates like a rock.

The Ballad of Curtis Lowe is one of my favorite Skynryd songs

[KARNUT]

I've haven't paid over 0 percent interest in at least 15 years on my vehicles, as long as I can do that I'll finance. I sill get the discounts, I buy when they offer the discounts.

[Heavy 5.7]

I agree with Curtis Lowe if you do not have the cash you probably do not need to be buying anything new, much less a vehicle that depreciates like a rock.

 

True this.

Unfortunately people have come to accept a lifetime of insurmountable debt that they now see as "normal". I used to be there myself before I decided to cut the cord, now I cut the check for my vehicle payment every month to myself. When I recently got the impulse to buy a new dirt bike I walked into the dealer with cash then we loaded it up and off I went....

[Dnt]

I have bought some nice rental houses for less than this last check i wrote for this 17 Ultimate LOL. You got to treat yourself every once in a while, life cannot be all about work work work..........................It took me many years of following the Dave Ramsey "rice and beans" plan to get in a position to buy whatever in the heck I want anytime that want it. Thanks Dave

[wade_660]

When I bought my truck, I carried a large sum of cash money thinking I could get a better deal. Ended up getting a better deal by financing, and they were pissed because they had to count my large down payment at closing time. Cash is no longer king as far as new trucks are concerned.

 

 

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[duquephart]

When I bought my truck, I carried a large sum of cash money thinking I could get a better deal. Ended up getting a better deal by financing, and they were pissed because they had to count my large down payment at closing time. Cash is no longer king as far as new trucks are concerned.

 

 

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It never was. At least not since dealerships figured out they could "help" with financing.

[Heavy 5.7]

Cash is no longer king as far as new trucks are concerned.

 

 

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Maybe not for trucks but certainly in general. If something drastically changes (job loss, medical issues, etc) you don't have a huge financial burden hanging over your head ready to choke the life out of you. Those who made it through the Great Depression relatively unscathed were those with no debt, those with debt drowned because of it.

[KARNUT]

I was doing the Ramsey thing before there was a Ramsey. My one weekness is automobiles I like to buy often. So I go for the deals and 0 percent. I save my cash and paid off debt that has interest. I own a couple of rentals and the only debt I keep is my vehicle at O percent. The reason, I wouldn't trade in upside down that slows the vehicle purchases to 2-3 years. If I paid cash it would be more often.

[Act]

My dealer allow me to pay the total amount with credit cards. Got a lot of points on my cards and paid them off when they came due.

Be aware that Credit cards often have interest rates much higher then financing the vehicle like up to 25 percent compared to 2 or 3 percent with financing

[rangerhgm]

Be aware that Credit cards often have interest rates much higher then financing the vehicle like up to 25 percent compared to 2 or 3 percent with financing

 

see post #16....I have never paid a cent in credit card fees.

[runsdeep]

Walk in get the best deal, then if you have a GM discount tell them,(they hate that one sometimes).

Pull out brown bag with cash or have blank certified bank check & let it roll from there. lol

That's what I've done on the last 3. Now use credit card for fuel. lol