PeteV

If paying with cash for a new IS, what is the best way to do that, both from a logistic, and a "best deal" point of view?

Should I walk into the dealership with $40,000 in cash - or pay with a check (maybe by showing them my online bank account, with the money to cover it)? Or maybe negotiating what the price will be, and then going to the bank to get a cashiers check for that amount, and come back to buy the car?

Is there any real advantage to the dealers that would make them want to give me a better deal?

Maximus350

I don't think there is any advantage paying with cash nowadays. In fact it may be a disadvantage as the dealer does stand to profit on financing. I really dont think you can get a better discount paying in cash.

unit74

iTrader: (3)

Actually, it's the exact opposite.......they don't want your cash. They make more money off you in the finance end of things.......

So in todays market, I beleive the cash buyer has less leverage.


And I wouldn't say anything about cash untill your ready to do it. negotiate the price first, then talk about financing/paying..........Be in control of the game is my theory.....

AsianGirl007

iTrader: (1)

Welcome to Club Lexus.

They are more than happy to take a personal check so there's no need to walk around with all that cash. Some people will tell you a better deal is too be had by paying cash, but it's not true. They are happier if you finance or lease so they can make more money.
If paying cash, try to negotiate a selling price, not a out the door price as it is clearer that way. Ask them to itemize and seperate each fee so you know exactly where all your money's going.

Good luck.

TimboIS

I'm putting mine on credit card, to get the points. Then paying the card off immediately.

flipside909

You're lucky to do that because most dealerships only allow a $500-$1000 max purchase (down) on any credit card sale. Tell us how your transaction goes when you're done.

Jhoo

I tried to put my on CC here in CA and they would not let me. I was only allowed to put a couple grand on the card due to the fact that CA laws prohibit the finance charges be greater then 19%( If I remember correctly). Thus in case your CC apr is greater then 19% the contract of the amount paid by cc is void, and the individual is not responsible for paying the amount charged. This is what I was told when closing with the the financing dept on my IS350. I just wrote a check and paid the max amount allowed by the dealership w/cc. Good Luck!

rominl

iTrader: (4)

correct, the MAX i have heard so far is 2000 bucks on cc. keep in mind they won't let you use cc on the whole car unless you are paying some ridiculous price for the car, coz' they hae to pay fees to cc company

and from what i heard it's actually better to use checks, coz' dealeship don't want to deal with that much REAL cash in their hands

biker

I doubt you'll find any dealer willing to allow you to put the whole purchase price on a CC - unless of course you will pay them the aprox 3% handling fee of the CC.

sjgIS350

If you finance you pay interest which translates to more cash out of your pocket. You may not get a better deal up front for paying cash ($$ bills, check, etc) vs financing but in the long run you will pay more by financing. If you have the cash, use it and in the long term it costs less.

On the other hand if you can get a better price by financing and the contract allows you to pay it off early (aka right away) go for it. You actually will gain a bit by leaving the money in the bank before the first (last and only) payment

Payam

I know that both of the deaerships I was dealing with allowed be to put $5000 down on my CC.

Tony1

The lexus dealer here in NY, allowed me to charge $4,000 on my Visa..

Bichon

My dealer offer to put up to $2500 on my credit card.

This was the first dealer in recent memory that wasn't willing to take a personal check; they asked for a certified check instead.

kensteele

Max I was able to put on the amex is $4k and that's for the car only. any other incidentals such as service contracts, extended warranties, accessories maybe, ttl, can go on there over the $4k I guess.

If you have $40k in cash in a briefcase, something is wrong. Never carry $40k in cash with you....anywhere. There are only $100 bills out there so four-hundred of them is a lot.

bhuwan

so i take it they wont allow me to put 15,000 USD on my amex for the miles?