March 09, 2006

Hello Tony

We are looking into buying a new car and have saved up enough money to pay for the whole thing without taking out a loan. Do you have any suggestions for buying a car this way?

Thanks,

Julie

Answer:

Hi Julie,

There's nothing wrong or complicated about buying a car for cash instead of financing. When you go into a car dealership stay focused on finding the car that you want and negotiate the price to your satisfaction.

The salesman and the Finance Manager will try to get you to finance through them, because they make a lot of money on the financing. Just stick to your guns, and if they get too pushy with you simply get up and leave. There are plenty of car dealers out there who will appreciate your business. This puts you in total control.

Don't give them any deposit unless you're absolutely sure you are going to buy the vehicle. Don't be pushed into making a quick or emotional decision. Take your time and think the deal through. Sleep on it for a day or two. This will drive the sales person crazy, but too bad. You have to make sure of what you're doing. Remember, if you're not sure and just thinking about it don't put any money down.

Go to New Car Price Quotes on my website and get some free price quotes before you go to the car dealer. You'll save yourself a lot of aggravation.

Good luck . . .

All my very best . . .

Tony Iorio