Reply
Member
4thmouse
Posts: 31
Registered: ‎10-24-2012

Re: How long to wait before financing a second car?

[ Edited ]

My Experience is different. I walked into a dealership with $17K a couple years ago to purchase a car and after the negotiations we got to the finance office and the dealership actually tried to push us into financing it, Even though we had 100% cash in hand. They even went as far as to say the price we negotiated was only good because they thought we were financing the whole thing. Course that backfired on them in a big way when we walked out. Before we even got home the sales manger called our cell and tried to get us back. We told them we would only come back if they would knock $500 off the price previously negotiated and we didn't have to deal with the guy we dealt with the first time and they agreed.

 

Don't suppose there is room to negotiate that $40K price down.

Regular Contributor
ImprovingYouth
Posts: 154
Registered: ‎09-21-2012

Re: How long to wait before financing a second car?


4thmouse wrote:

 

 

Don't suppose there is room to negotiate that $40K price down.


If you are coming in with 30k you should have no problem getting the price down from 40k, maybe not all the way to 30k, but I dont see how you wouldnt get 35-37k easily. Unless you are already factoring in getting the car down from some higher price to 40k by bargaining.

 

Another thing to think about, most dealers will not finance below a certain amount, usually around 7-10k. So you might need to keep some of your money and just pay it down on the back end.

Age: 22 //Cards: Chase Freedom, Chase Amazon Visa, Discover IT, CreditOne, CapOne Quicksilver, CapOne Cash, Walmart, Barclaycard, Citibank BestBuy, NavyFederal Visa Signature cashRewards //AAoA: 1 Year 3 Months (but going down quickly :smileytongue:) //CK:692, Sesame:656

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+