Why you should never pay cash for a car?

Why you should never pay cash for a car?

That is because credit card debt is unsecured, and a car loan is secured with the product that you drive off the lot. A person who bought cash for their car, may be using their MasterCard for grocery shopping and bleeding money in interest rates each month, even if it's paid on time.

How do I find out what a dealer paid for a used car?

Find out the average retail price for sale by dealers by checking Kelley Blue Book and Edmunds.com. Then look up ads by dealers in your area on a site such as AutoTrader.com. Get the average trade-in value on the pricing sites.

How long do dealerships keep used cars?

The price gets reduced closer to the market average around weeks 3 and 4 and stays in that range until it hits the 60 day mark. Some dealers reduce the price once more at this point. However, the biggest reductions usually occur once the car has been on the lot for 90 days.

How do you walk away from a car dealership?

As you're leaving the dealership (on good terms), give the salesperson your contact information and tell them you're still interested in the car—at your desired price. Tell them to reach out if they can meet that price. Add a little urgency by reminding them that you're shopping around, so you won't wait forever.