How do you pay cash for a car?

[AristocatFan]

It's interesting that you can't charge a car.

We did. We put oldest DS's Chevy pickup on a Chase Mastercard because it was 4% fixed interest. Cheapest rate around for a 16yr old at that time. Plus he's responsible for making the payments.

 

[gillenkl]

We finalized the deal and took the bill of sale to the bank and got a bank check.

 

[ICF]

They will NOT take visa/mastercard even though they are supposed to because they don't want to pay the 3.5 fee.

Most, at least here, will let you put an amount on CC.

The last 2 cars I bought (from 2 different dealers) each let me put $3500 on a CC as a downpayment.

 

[spaceacewannabe]

paying cash is great... however with the market the way it is many car makers are offering 0% financing. the last car i bought, i got for 2k below invoice pricing, at 0.4%. i was going to pay cash but then i decided to put about 30% down and keep the rest in my bank account earning almost 6% interest. so thanks to the car maker i am actually making money over the life of the loan than if i had paid cash out right. its not much but its about 2k dollars over the life of the loan. what i do is not touch the money, so i can pay it off anytime i want, but why let them earn the 6% when i can?

OT, but where do you bank that you're getting 6% interest?

 

[pitermike]

Nice Information I Have Given More Information To See This Topic...

 

[donaldndaisy]

We called the bank and arrange a wire transfer to the dealership, it was there within 1 hour.

 

[Swimalie]

Since I didn't obtain my money by selling guns to terrorists or dealing with South American drug cartels, it really doesn't concern me if somebody at the bank or car dealership has to fill out government paperwork reporting my purchase. What are they going to do - send the FBI to my house because I bought a car?

Actually, it would be FINCen, Department of Treasury. My husband's office. hee-hee

We're starting to look for a new car that we'll probably buy next year. We've been putting $150 a month in to an account for a few years now. We'll use that to pay cash for the car. Brand new car paid for. Our old car will be 11 years old and we'll sell that to restock the fund.