I work for an Audi, Porsche, VW, Land Rover, and Mercedes deal so I might be able to help a few subjects.
Credit checks do show employment which suggests income although it does not define it.
IE: if it says Doctor, we are probably ok with a porsche. If it says waiter...hmmm...let me show you this very fine VW. jk
Dominic, I hope you would sell the Porsche to the waiter if he had cash or check in hand.
If a dealer asked what I did for a living or how much I made, I would walk right out the door.
we also dont accept real money over $2,500. Anything more and it has to be certified. The reasoning is minimizing risk. Who is responsible for the possibility of counterfeit tender. The bank if the funds are in the form of a certified check.
Dealers ALWAYS prefer that you finance and sometimes it makes sense for the customer too.
Once talked a buyer of a 125,000 S8 to finance the whole amount. His rate was under 5% and the investments he had were averaging better than that--so why pull th money out?
Big win for us on that loan and for him as well!
You mean, "Dealers ALWAYS prefer that you finance WITH THEM
.." Otherwise, why in hell should a dealer care where your money came from???
I guess if you are literally walking in off the street, have no idea what you want to buy, have no idea what you can afford, etc., then you are are at the mercy of the dealer, who will ultimately decide what's in YOUR best interest.
But I guess I really don't quite get the point of this entire thread, "Price off for paying full in cash". Whether you arrange financing seperately (thru your own bank or otherwise) and walk in with a bank check, or write a personal check, or hand over bills, why would it make ANY difference to the dealer??
I can understand if the question is "Price off for paying cash versus having dealer finance for you
Funny thing is, I WOULD EXPECT A DISCOUNT FOR AGREEING TO DEALER FINANCING, BECAUSE THE DEALER IS TYPICALLY MAKING SOME PROFIT ON THE FINANCING!
Bottom line, the easiest way to purchase a car from a dealer (from a BUYER perspective, not dealer perspective) is to have all your financing worked out ahead of time, and not inject ANY variables into the deal, including dealer financing, trade-ins, etc. Walk in, negotiate a deal, present cash, sign, drive off.
All my purchases were based on a little leg work on my part - including arranging my own financing ahead of time with my own bank. Then researching exactly what car and options I want to buy, knowing invoice price, dealer incentives, rebates, dealer holdback, ect., then calculating the price where the dealer makes zero $$ profit (which is NOT the invoice price!!!). All that stuff is VERY easy to do actually. Then I can determine what profit I would be willing to add to that base to pay the dealer for that car. Next is compiling a long list of dealers, and begin both calling in to the ones out of my area and walking into the ones near me to see who will bite on my price (for non-high-demand or non-exotic cars, best to try to talk to a fleet sales person). If I contact 30 dealers and not one is willing to accept my offer, then I might decide that I am a bit low, so I up it a 100 or 2 and then start calling again.
Every car I've purchased was done this way, and I've never paid anywhere NEAR sticker, and usually in the range of $300 plus or minus invoice (except for my first - learning lesson, and my last - the Lotus).
Cash vs financing NEVER even entered the picture.