Trade-In Your Car For Cash: Is Buying From A Dealership Worth It?
Dealerships have been around for a long time. And while selling your car at a dealership is pretty rare in the day and age of the internet, they are still a great place to trade in your car for cash. But the real question is if buying from them in cash really helps? The answer is “no.”
Some dealerships like to operate entirely on a cash basis. This means that they would love nothing more than for you to buy a car by paying them money. So if you are wondering if you can pay cash for a car at a dealership, then yes, you can, but it may not be as beneficial as you think. This is a very old school way of thinking.
Sometimes, paying with cash at a dealership will get you the worst price they offer, simply because it doesn’t offer the same benefits as financing a car.
Car Dealerships That Buy Cars: Why Buying With Cash Is a Bad Idea
Trading in a car for cash at a dealership is not always the best way to go about it. Since most dealerships sell a customer’s car loan to a bank, they may also sell the loan to a credit union or any other financial institute. Therefore, they are able to get their money back fairly quickly, and sometimes at a much higher rate. So if you’re wondering, “Will car dealers give you a discount for cash?” then, no, they will not.
Another reason why giving money to most dealerships is essentially pointless is because the money often comes in at the same duration. Therefore, they are not at a massive advantage by receiving cash instantly for their car. They will also sometimes actively discourage people from paying in cash by increasing the price or by adding more interest. So if you are wondering how much a car dealer will knock off for cash, the answer is nothing.
Moreover, sometimes buying in cash can be detrimental to the negotiations, as the dealer is very much at a loss. They will not be able to sell other warranties and various other incremental policies that often make them a lot of money.
Cash For Car Dealerships: Other Methods to Pay for Cars
Dealers that buy old cars for cash are a dime a dozen. However, there are other ways you can pay for a vehicle besides handing them cold hard cash. One of these ways is through trade-ins. You may be thinking, “I’ll trade my car for cash, which will help me pay off part of my loan.” Well, too bad that these trade-ins rarely look at market value, and instead look at how profitable they might be to the dealership themselves.
Another thing that you can do is to trade-in your car for cash, which you can use to pay off the loan. But this is rarely a good idea, mainly because the dealership has their own interest in mind, which overshadows the individual buyer’s needs. Often, this is only a good idea if the trade-in makes you eligible for various incentives like rebates or cashback.
All in all, dealerships rarely have your best intentions in mind, despite what their advertisements may lead you to believe. Because they look after their own interests, they make it harder for buyers to pay with cash and to opt for less financially viable solutions such as financing.
Where Can I Trade In My Car For Cash?
With dealerships looking out for themselves, selling a car on your own is tiresome and frustrating, sp what can you do? Well lucky for you, Cars for Cash is a company that looks out for its buyers. We don’t go use shady salesmen tactics or strategies and are transparent right from the get-go. We offer market value for your cars, to ensure you get exactly what your car is worth currently.
As junk car dealers, your car doesn’t even have to be in working condition for us to buy it from you. The best part is, you don’t even have to leave your couch as you trade-in your car for cash. We come over to your home, check the car and its documentation, hand you the money, and take the car away. Easy and simple, but most importantly, you are never given the short end of the stick. So if you are looking to get in some extra cash, visit our website.
Read our guide on how to make extra cash here!