Price off for paying full in cash? - LotusTalk - The Lotus Cars Community
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post #1 of 83 (permalink) Old 10-06-2007, 10:18 AM Thread Starter
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Price off for paying full in cash?

How much do you think you would get off a 06 Elise or new 07 elise if you paid in cash?
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post #2 of 83 (permalink) Old 10-06-2007, 10:20 AM
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How much do you think you would get off a 06 Elise or new 07 elise if you paid in cash?
I think those cars will be pretty heavily discounted anyway, and paying cash will not make a big difference.

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post #3 of 83 (permalink) Old 10-06-2007, 10:24 AM Thread Starter
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how much do you generally get off a new elise with touring pkg?
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post #4 of 83 (permalink) Old 10-06-2007, 10:28 AM
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dealers would probably prefer you finance since they get more $$.

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post #5 of 83 (permalink) Old 10-06-2007, 10:28 AM
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dealers would probably prefer you finance since they get more $$.
Very true.
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post #6 of 83 (permalink) Old 10-06-2007, 10:29 AM
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I bought my first two brand new cars with cash and got nothing more off. The dealers don't care, they have to report every cent so they don't save any taxes themselves, and they get paid in full when you get your loan, plus they make extra money on you if they secure your loan.

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post #7 of 83 (permalink) Old 10-06-2007, 10:30 AM
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Quote:
Originally Posted by 25psi_Elise_Killer View Post
dealers would probably prefer you finance since they get more $$.
One lousy minute. I hate that.

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post #8 of 83 (permalink) Old 10-06-2007, 10:41 AM
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When paying by cash, use a personal check. Do not use a bank cashier's, certified, suitcase full of bills. If you do this, your transaction will get reported to the IRS or other regulatory agencies.. Personal checks will not get reported.

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post #9 of 83 (permalink) Old 10-06-2007, 10:43 AM
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This "pay with cash discount" is a myth for any legit dealer. As mentioned above, we must report all cash transactions. Inventories are floorplanned so the bank wants to see the books and numbers match.
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post #10 of 83 (permalink) Old 10-06-2007, 11:02 AM
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When paying with cash it is best to buy from a private party.

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post #11 of 83 (permalink) Old 10-06-2007, 12:52 PM
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I believe you can get a better discount when paying "cash", the dealer has to realize that when a customer is paying "cash" it's pretty much a done deal and won't have to worry if the customer would be approved for credit. However, one would guess that it's probably just a slightly better discount (few hundred)

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post #12 of 83 (permalink) Old 10-06-2007, 12:57 PM
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I paid for my elise in "cash", still had to do a credit check.

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post #13 of 83 (permalink) Old 10-06-2007, 07:27 PM
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Like everyone else said, dealers prefer you finance so they won't give a rat's a$$ if you pay cash. If you have the cash I agree with TwinTurba's advice - you would save a lot more money if you bought a gently used Elise. As soon as you drive the car off the dealer lot it depreciates. Most almost-new cars are still worth more money than what most folks have so the seller has a hard time finding a buyer, therefore they usually have to take even more of a loss and sell the almost-new car for less. Then will deal down even less if you pay cash up front. Just buy it from someone who hasn't tracked it and just "thought" it was a cool car to own but then realized they didn't like it as a daily driver and it was too racecar for them and the wife hates it, etc. so they have to sell it. Bring a mechanic to inspect it for damage/lies they tell. CarFax it, etc. For a little looking and effort you will save a good amount of money that you can instead spend on aftermarket performance upgrades.
My very long 2 cents...

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post #14 of 83 (permalink) Old 10-06-2007, 07:27 PM
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credit check

a dealer pulled a credit check just so I could TEST DRIVE a new car.

mark

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post #15 of 83 (permalink) Old 10-07-2007, 12:46 PM
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Quote:
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a dealer pulled a credit check just so I could TEST DRIVE a new car.

mark

I would never agree to that. That goes against your credit.

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post #16 of 83 (permalink) Old 10-07-2007, 01:38 PM
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Don't be hard on the dealer for running a credit check. They have to protect themselves to the hilt these days and want to make sure they have a bonafide prospect who is who he says he is. Truthfully, I used to find the demo ride the most disconcerting because I didn't know if there wasn't some nutcase taking me out for a ride (and believe me, there were a few who fit the profile and did waste my time). The dealer is supposed to shred your license and anything that had to do with the demo ride after it is over (and, you should check that they did). My guess is that you stumbled into a dealer that had their share of time wasters wanting to think they could afford a Lotus (People should be told "This isn't Great America.").
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post #17 of 83 (permalink) Old 10-07-2007, 02:07 PM
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let's get real, we are talking about a 50-60K car, not a 200K ferrari/lambo.... credit check to test drive... you got to be kidding.

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post #18 of 83 (permalink) Old 10-07-2007, 02:37 PM
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The dealer has no real incentive to prefer cash over credit, but you do. Consider "not paying interest" to be your discount, and it adds up to be quite a bit.

2006 Elise, Ardent Red, Black Pack, LSS wheels, shocks and springs.
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post #19 of 83 (permalink) Old 10-07-2007, 11:34 PM
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Originally Posted by Imolas54 View Post
I believe you can get a better discount when paying "cash", the dealer has to realize that when a customer is paying "cash" it's pretty much a done deal and won't have to worry if the customer would be approved for credit. However, one would guess that it's probably just a slightly better discount (few hundred)
I only buy that if you having the cash allows you to buy the car that same day instead of in a couple of days because you need to get qualified. But even if you are not pre-qualified, it is something that can be done in a matter of minutes.

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post #20 of 83 (permalink) Old 10-07-2007, 11:35 PM
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let's get real, we are talking about a 50-60K car, not a 200K ferrari/lambo.... credit check to test drive... you got to be kidding.
That is a lot of money to some of us; dealers too.

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