Deal of the century?

KARNUT · July 11, 2018

Mmmm payment shoppers... a stealership's wet dream. Lol

Yea, you’re right most people. In my case I used my cash to pay off my income producing rent houses. Then I buy discounted vehicles deals and 0 percent interest. Then I write it off going to my condo in Myrtle beach. That I get income from leasing to vacation rentals. I love condescending remarks that people make at people who make car payments. Paying cash for a depreciation asset is foolish.

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NWI Denali · July 11, 2018

7 minutes ago, KARNUT said:

Yea, you’re right most people. In my case I used my cash to pay off my income producing rent houses. Then I buy discounted vehicles deals and 0 percent interest. Then I write it off going to my condo in Myrtle beach. That I get income from leasing to vacation rentals. I love condescending remarks that people make at people who make car payments. Paying cash for a depreciation asset is foolish.

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You didnt reference the price of the vehicle. You quoted the payment. That is the definition of payment shopping.

KARNUT · July 11, 2018

You didnt reference the price of the vehicle. You quoted the payment. That is the definition of payment shopping.

Most people payment shop. Most people have budgets. I am older, retired, have 5 accumulated vehicles. I’m debt free and stay on a budget. One exception my travel car, that I write off. I know my credit score, how to figure sales taxes etc. I know what I’m going to, willingly to pay before I sit down with a sales person. I usually have at least 3 vehicles I’ve researched, and within a few dollars know what my payment will be. Two years later I do it again. I consider leasing but sometimes I hand the car off. I’ve never paid more than 500$ per month, never upside down. The only time I pay one off if the wife or family member wants the vehicle. That’s where 3 of 5 came from. Ones a toy. I’ve paid cash for collector vehicles, they appreciate. Again paying cash for a depreciation asset is not smart.

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NWI Denali · July 11, 2018

8 minutes ago, KARNUT said:

Most people payment shop. Most people have budgets. I am older, retired, have 5 accumulated vehicles. I’m debt free and stay on a budget. One exception my travel car, that I write off. I know my credit score, how to figure sales taxes etc. I know what I’m going to, willingly to pay before I sit down with a sales person. I usually have at least 3 vehicles I’ve researched, and within a few dollars know what my payment will be. Two years later I do it again. I consider leasing but sometimes I hand the car off. I’ve never paid more than 500$ per month, never upside down. The only time I pay one off if the wife or family member wants the vehicle. That’s where 3 of 5 came from. Ones a toy. I’ve paid cash for collector vehicles, they appreciate. Again paying cash for a depreciation asset is not smart.

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Justify it and argue semantics all you want. At the end of the day, you are a payment shopper.

EDL · July 11, 2018

8 hours ago, joejoe11 said:

So riddle me this if you will, and I doubt that this will workout, honestly, but I can dream.

So I purchased my 2017 2WD LT V6 Crew from the same dealership last year for $27,800 on a 72 month loan. My payments is $418/month. It is in perfect condition with 2300 miles on it at this time. KBB and Edmonds value the trade in right around $27,100. I'm just going to assume this is high. So I'm gonna guess they'll offer me $25,000 for it.

Here would be the numbers:

New Vehicle Price: $26,387

Trade In: $25,000

Owed on Trade In: $23,637.57

Tax: 6.25%

Interest Rate: 3.29%

Loan Term: 60 Months

Monthly Payment: $454.46

Would it be worth an extra $36 a month and two fewer months on my loan for theoretically the same exact truck, except for a V8 instead of a V6, 4WD instead of 2WD and a Z71 package. Plus an extra year on my warranties since this is a 2018.

In a dream world, could I get the dealership to offer me $26,000 for my current truck and get the payment to $435.

What do you guys think of all this? I think it's probably impossible, but I still e-mailed my sales rep at Holiday Auto to inquire.

Heck yeah, if that's the true price and they are willing to offer enough on your trade. It's worth a trip to go through the motions and have them make an offer on your trade. The worst that can happen is that it doens't work out. BTW, I;ve found that the values that KBB and Edmunds show you are nowhere near what they're gonna offer you on trade. They always claim they don't go by that and that they have numerous other references they use to arrive at the trade-in value (but they won't tell you what those reference materials are). The last three vehicles I've traded, I get the KBB value then subtract about $3,000 from that and it is usually pretty close to what they will initially offer you. Of course, you have to haggle back and forth a bit too and I usually get pretty close to what I want for my trade.

KARNUT · July 11, 2018

Ok fine, you go ahead and write that 60K plus check for your next Denali. I’ll pay down my next rental house that’s going to bring in 1500$ a month. Your paid off vehicle will lose 15K as soon as you drive off. My rental will probably go up that in a year, not counting what I received in rent.

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duquephart · July 11, 2018

17 minutes ago, KARNUT said:

Ok fine, you go ahead and write that 60K plus check for your next Denali. I’ll pay down my next rental house that’s going to bring in 1500$ a month. Your paid off vehicle will lose 15K as soon as you drive off. My rental will probably go up that in a year, not counting what I received in rent.

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How nice for you! You think you're the only one here who knows how to make a buck?

KARNUT · July 11, 2018

How nice for you! You think you're the only one here who knows how to make a buck?

Your welcome, well most people like to here from older experience people who have successfully navigated through life. I was young once and thought I knew everything. Lucky for me I started listening by 30 to experience people. Dave Ramsey for one, and retired by 58. Listen and learn or be condescending you choice.

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NWI Denali · July 11, 2018

56 minutes ago, KARNUT said:

Your welcome, well most people like to here from older experience people who have successfully navigated through life. I was young once and thought I knew everything. Lucky for me I started listening by 30 to experience people. Dave Ramsey for one, and retired by 58. Listen and learn or be condescending you choice.

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It is pretty clear who is being condescending here in this thread.

SierraHD17 · July 11, 2018

2 hours ago, KARNUT said:

Ok fine, you go ahead and write that 60K plus check for your next Denali. I’ll pay down my next rental house that’s going to bring in 1500$ a month. Your paid off vehicle will lose 15K as soon as you drive off. My rental will probably go up that in a year, not counting what I received in rent.

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You can't get that logic through peoples heads lol. I had guys fight with me left and right in a thread in the purchasing section of the forum lol. I took the cash lump sum total out the door cash value of my truck and financed at 0%... in the mean time I am making an 11% return on the invested money. No... I should have just cut a cheque to the dealership for the full amount right lol.

KARNUT · July 11, 2018

You can't get that logic through peoples heads lol. I had guys fight with me left and right in a thread in the purchasing section of the forum lol. I took the cash lump sum total out the door cash value of my truck and financed at 0%... in the mean time I am making an 11% return on the invested money. No... I should have just cut a cheque to the dealership for the full amount right lol.

Finally someone gets it. Even your house, the best investment right? Most people get a 30 year mortgage and forget about it. Just pay the thing off. I paid my first house off in 12 years. The second in 6, using rent money from the first, and my original payment amount as if I was still paying the first one. It cost me no more money than if I just payed 30 years on the first house. Which would have triple the original purchase price over 30 years. To get back on subject it’s possible to get that kind of deal on a vehicle, it’s the only way I buy.

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SierraHD17 · July 11, 2018

17 minutes ago, KARNUT said:

Finally someone gets it. Even your house, the best investment right? Most people get a 30 year mortgage and forget about it. Just pay the thing off. I paid my first house off in 12 years. The second in 6, using rent money from the first, and my original payment amount as if I was still paying the first one. It cost me no more money than if I just payed 30 years on the first house. Which would have triple the original purchase price over 30 years. To get back on subject it’s possible to get that kind of deal on a vehicle, it’s the only way I buy.

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Yep the home is the big one for most I know. Mine is 2/3's of the way paid off in 5 years... I am currently renewing it as an equity line of credit at the same rate as the mortgage and will have it paid off before the next 5 year mark. Property here is so expensive even with the values currently recessed the return would take longer than what I have left on this planet for more than a crack shack or I start making 7 figures plus a year. But I have other ways to make money with money. Total thread derail.

wforrest08 · July 11, 2018

4 hours ago, Black02Silverado said:

This sounds like one of those adds that gets you into the dealership and once you get there they tell you it was sold.

At least in Iowa there has to be one vehicle on the lot at that advertised price. The kicker is it’s usually sold before it’s ever advertised or it’s the model with the options nobody wants anyway. There’s a name for this vehicle in the industry but I forget what it is.

Every time I see one of these threads I can’t help but to wonder doesn’t everyone think,

IF there was some great deal on a vehicle at a stealership somewhere wouldn’t somebody at the stealership just buy it or pass it on to friends/family?

I know it’s hard to believe but used car salesmen do have friends & family.

NO REALLY they do! (I thinks they hang out with lawyers)