Thursday, 3 September 2020

How To Pay Cash For Cars Without Financing


In this article, we're going to talk about paying cash for a car, how to do it, and why I always do it, and the benefits of paying cash for a car. I am a cash buyer of cars, and there are a number of articles on the internet that talk about you should never pay cash for a car. You should go ahead with the financing prospect, and then once you get the car financed, call them up and ask them what the payoff is and pay them off. Essentially, I'm going to teach you how to pay cash for a car, how to shop for a car


Let's get into the article


1. If You're In The Market For A New Car, Look 3 to 6 Months Before You Make Your Purchase

Why should you look three to six months so you know what the market price is? You know what the market the cars are going for. This is one of the things. There's the ebb and the flow of car pricings and many people because they don't know how to shop for a car, they'll go in the dealer and make it all these crazy demands without knowing the true market pricing of the car. 


2. What's Going To Help You Pay Cash For A Car

If you know what you're shopping for, if you know what the pricing is, you know the options. When you go in to get your car you should know your car so well that you know your car better than the salesman. At that point you're an informed consumer, you're armed with a lot of information, a lot of data points, and you're good to go. 


3. What Marketplaces Should You Buy?

I was doing a nationwide search for my car, I would have bought from a private owner, I would have bought from a private dealer, it didn't matter because I was looking for certain things. One of the things that you can do to save a lot of money when paying cash for a car is to look for people's private owner sales. You want to look for private owner sales of individuals who appear to be wealthy. Why do you want to do that? Because essentially these people take care of their cars. They get all the oil changes, they get all the servicing, the car's not beat up. This is one of the ways that I bought one of my cars. I bought it from a private owner and the car was in immaculate condition and I got a great deal because I knew what the current market pricing was. So that's another way for you to get a good deal on a new car. Arm yourself with knowledge


4. How Does One Buy A Brand New Car And Pay Cash

Same process. You go through the process of doing your research, you know what the cars are going for, you study the market for three to six months so you have a firm understanding of what's going on in the car market for that car. Whether it's a Honda, Toyota, whatever. You will know without a shadow of a doubt. So when you go in you're armed with knowledge. You do not have to go ahead and finance the car because essentially this has been my car shopping experience, and one of the things that makes it really easy for me to shop for cars is I know exactly what I want. I'm not like, well, I don't know. 


I know exactly what I want, I know what options I want, I know exactly what I wanted, and they had it and we agreed on the price and I got it and moved out.


If you go in and you don't really know what you want this is how you can end up paying a lot more money for your car than you want to. And you're was one of those people who have what I call the "new car bug". These are the people who essentially go out and end up paying $1,600 a month for a hellcat because they got that new car jones and that other stuff.






Conclusion

Cars are toys. You always pay cash for your toys. If you're not in a position to pay cash for your toys, you don't need to buy them. That's my opinion. Like I said, there's a lot of conflicting information on the internet about what I call "poor people economics". One of the things that you've to do is envision in your mind that you're going to walk in the dealership, you're going to hand them a cashier's check, you're going to sign the paperwork, and you're going to drive out there, and the minute that you drive off the lot, that car is yours. I am trying to teach you rich people economics. All this other stuff is poor people economics or leveraged person economics. If you're going to buy a luxury car, if you're not in the position to pay cash, you cannot afford it. I don't care what your credit score says, I don't care what your monthly income says. I want you to sit down and think about it and make this promise to yourself that you're not going to buy your next card unless you can pay cash for it this is going to dramatically reduce your stress level. This is going to dramatically change your financial life

No comments:

Post a comment