Looking at buy first truck not sure if this is a good deal.....

What you said was with COVID cash is King. I stated cash being king had nothing to do with COVID.
Either way, we are are the same page that cash is king.

 

Covid has caused a huge job loss and without a job you can't get a loan. Thus my statement. But yes, we do agree in theory about cash.

 

i Now understand what you were saying

 

I guess I did not explain very well.
I went out last year to buy a brand new van and found that as soon as I said that i would pay cash, salesmen would pretty much evaporate.
I asked a buddy of mine in the business what the hell was going on and he filled me in.
Unless you are taking something off their hands that they cannot sell , your business is not really appreciated .
Turns out 80% of the profit on a used or new car now comes after the sale and has nothing to do with the sale price.
This guy explains it better than I can.
Please watch this before you go car shopping next time
No one likes cash buyers anymore

 

Not necessary. I would never set foot in a dealership of any kind to buy a vehicle. Even if you haggle a good price AND PAY CASH the back end fees will eat you alive. Most dealers now have a fee of up to $600 for the priveledge of buying something from them. Their entire goal in life is to get you into the finance office, where they add on all kinds of little document fees, title fees, etc. I would also never buy anything new. Haven't done that since 1974. Let some other idiot pay the depreciation. I have bought two Impalas for around $4000 and have driven them for thousands of miles. I get them with 89,000 miles or so and sell them at 175K for $2500. Never had a major problem with either one. Again, I don't know why you think salesmen care, because they do not get any of the profit from financing. But a cash customer is a tougher sale for sure. Finance customers are saps anyway. You never finance a liability. Now if you are buying a truck that is making you money that doesn't apply. Big difference.Still, I wouldn't buy new. Most all trucks in fleets are driving down the Interstate and not turning more than 1400 rpm. If they are maintenanced on schedule they are not a bad buy. I would stick with an automatic though because they can't be abused as much.

 

Cash is king but gold and silver will always be the language of the gods. Im not planning to spend the rest of retirement days in Merica. It will probably be in a jungle somewhere in Africa or an Island in the Caribbean, full of hookers.

The dollar has lost its international value. $600k Dollars is worth peanuts in Russia. A 600 oz gold is worth a kingdom in Russia.

So when people tell me that their gold in the 70’s is worth the same in 2020 and they get pissy about it, I want to slap them. Retirement dollar money in the 70’s and 80’s won’t buy you anything today. Old gold, will always gain value. But who’s family here lived in the Wild West era and got old gold buried somewhere? No one.

Inflation is going up, dollar is losing its value every year. So yeah, we have basically become a third world country.

 

When I say cash I mean any monetary unit. But you are totally correct.

 

I don’t know about this idea, it has been floating around the internet with no proof. The dealers finance their cars from the factory and pay interest on them so if they sit and not sell it eats into their bottom line. Having 20 vehicles sitting on a lot costs money and when the model change over happens, they can’t return them.

My Toyota sales dweeb I’ve been working with showed me they can see dealers inventory with their costs. The owner of one Ford dealer I’ve know for years will search for old inventory for me.

So ... I bought three Ford trucks for cash, the last one is a 2020 I just got and told the sales dweeb I know what the cost is and here is my offer, he refused (as the last one did) and I walked out of the dealership. He, just like the last one followed me out to my Prius and tried to make a counter offer and I told him I have a check with a number on it and that’s all I am paying, he can sit on the truck and lose more money or take it. He took it. Then he tried to screw me by adding in the usual crap like dealer prep and destination charges so I said the check has that number that we agreed on, I got up and started to walk out and he stopped me again and said ok, I got the truck for 30% off of sticker, he got a sale to add to the board and the dealership got rid of something costing them money each month.

I do the same with trucks, I get outside financing prearranged with a set amount I am willing to spend.
Cash is king.

 

It all depends on what you are trying to buy and what the market is like at the time.
If you want a car that is popular and in short supply , do not try and play the cash card, you will get nowhere.
Cars that have been sitting on a lot are a different story.
But in any case, no one is happy to not have you finance a car through them. It never happens that they are happier to see a cash buyer anymore.

 

Sorry to burst your bubble but 30% off will never make up for the depreciation of buying a year end truck.