Quote:
Originally Posted by fourflys
Now if you mean I can have my cash in an interest-bearing account for an extra 90 days, then maybe.. but how much is $30 or $40k going to earn in 90 days unless you have an insanely good return product?
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You'd earn $500 @ 5% interest on $40k. Of course, thats about what the interest on 3 months of the car note would cost you, too. So that would be a good strategy to offset any costs.
Some of the financing contracts require 90 days before refinancing or payoff but a lot of them dont - read the fine print and all. If there's no penalty for paying it off as soon as you get your loan documents then there's really no downside here.
Still, the dealer holds a lot more information about the financials than we can know sitting at the sales desk - there's holdbacks, incentives, year/quarter/month end bonuses, promotions, financing spiffs or kickbacks. So they have a profit number to hit on that vehicle, on that day, and there's no way to know what that is or how much the financing plays into it. And as ****ty as most dealers are, they're in business to make money and there's nothing wrong with that.
So maybe you are getting the best price, or maybe not. Its awful short sighted to walk from a deal because they dont want to take a check at that price if the out the door price now costs you more than whatever the financing costs are.