Paying for special order/ Cash( actual green ) , credit card, regular bank check, combo?

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#61

11-19-2018, 11:50 PM

Flyct

Cargo Master

Join Date: Mar 2017

Location: Florida

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Quote:

Originally Posted by Wes Hightower

I gave my dealer a bank draft from Navy Federal Credit Union and they said "no"! They wanted a cashiers check, wtf? I knew putting down more than 10K would spawn a suspicious activity report so that was out of the question.

I ran into the same 2 years ago when I bought my 2017 F350. I negotiated everything on the phone. Then I drove 2-1/2 hours to the dealer and when I got there they wouldn’t accept a PenFed Credit union preapproved financing paperwork. . The loan was less than 1/2 the price of the truck. Not only that, I had a buyer for my trade meet me there and the dealer had agreed to take the trade and sell it to new buyer at same price. I was ticked off big time. So I called USAA, got same rate 2.25% and dealer accepted USAA deal. It seems that USAA pays directly to dealer via direct deposit vs PenFed was going to send them a check.

I was pissed. I now have a vacation home and that dealer is the local dealership. So when I bought my 2019 F350 and my 2018 Ford Focus recently didn’t even consider them. They lost 2 sales from me.

The dealership for the Focus and F350 accepted a personal check from me without hesitation.

#62

11-20-2018, 03:51 AM

Tedster9

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Quote:

Originally Posted by caly350

Sigh .....dave ramsey nutswingers FTL!!

Since you conveniently ignored the posts that clearly show when it is advantageous to borrow against a depreciating asset, I'll try it again:

If the $50K-$60K-$70K can make you more money than the 2.5% it costs,(my current CU rate) then OBVIOUSLY you should borrow against a depreciating asset.

We all can't make our fortunes selling books and radio programming to suckers.

Ah... are you a car salesman I take it? Who are you to be calling someone calling a nutswinger or sucker? Who is Dave??

In theory you are correct, but in reality hardly anyone does that, even if it (sort of) pencils out. They don't have the discipline, or the 50 or 60k to invest ... and they aren't borrowing money to take advantage of anything, they borrow because it's the only way they can get into something like that, with a car note that lasts 5, 6 or 7 years now. Admittedly we're talking about people who want to pay cash, but you're gonna take a hit one way or another.

Ask yourself if you believe government inflation figures. 2.5% on your money? Oh boy!! When interest rates rise on deposits, I betcha they are rising on borrowing too. Funny, that. Also ask yourself how much more all these new cars and trucks cost today (and everything else for that matter) than they would otherwise if the banks hadn't been firehosing 0% money around far and wide for the last ten years or so. Don't be fooled. The people who have money to buy a new truck and borrow know how to make it work.

Good try though!

#63

11-20-2018, 10:33 AM

caly350

Mountain Pass

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Quote:

Originally Posted by Tedster9

Actually, I'm a paramedic that has built his last two houses.

And I'll ask the question right back to you: Who are you to be telling someone whether they have the discipline or not to manage their funds???

You made a sweeping generalization and could not be more incorrect....doesn't matter "how much more all these new cars and trucks cost today." And it certainly doesn't apply to everyone.

Not only did financing my truck free up cash to build the houses I'd mentioned above....which like mentioned saved thousands on subs for the trades I couldn't do myself.....I know with the D plan I have access to and waiting for proper rebates I'm rarely upside down....if ever.

Try and pay attention....I wrote the money costs me 2.5%.....I earn far more than that by utilizing that cash (oh boy.)

So if you'd like to correct your post to read that YOU do not have the discipline to finance a depreciating asset....by all means.

Otherwise, you sound like that moron dave ramsey (google is your friend) who only preaches because he went bankrupt early on and now thinks he knows it all.

He's also the clown that screams how all credit cards are the devil.....in the meantime, using the points on my card I just paid for a huge portion of a 2 week vacation in Jamaica, and I've never paid a penny in interest. (anxiously await to be told how vacations are a waste of money ..lol!!)

Bottom line remains: It's silly to pay cash for something when that money can be leveraged to earn for you.