How to Pay for a Vehicle at a Dealer?

So, I'm going to be purchasing a motorcycle and a car fairly soon. I have the funds available in my bank account to pay for them outright. I am likely going to buy at least one of them from a dealership. I also plan to purchase outright. So, what is the preferred method of paying for a vehicle at a dealership? Show up with $15k cash in my pocket? Personal check? Split it between two credit cards and pay them off immediately?

If you know the exact total price, a bank draft made payable to them would be a lot safer than walking around with $$$$$ in your jeans.

Last I used was a bank check that I signed over to the dealer.

They prolly don't really care tho as long as you don't show up w/ a wheelbarrow full of mason jars dug outta the back yard ala Faster than a Redneck

In the case of bank draft or bank check... where does that leave you for being able to haggle the price down?

It's actually illegal to bay cash for anything over $9999.

EvanR wrote: It's actually illegal to bay cash for anything over $9999.

It's not illegal, it's just that the bank has to do paperwork with the feds for deposits or withdrawals larger than that amount because of the drug war.

Dealerships usually have a limit of how much they'll accept on a credit card because of the percentage that the bank takes. IIRC it's usually around $2K.

The two easiest options are:

1) personal check. See if they'll take it -- they probably will.

2) negotiate the price ahead of time, call the dealership, get an exact total and bring a cashier's check for exactly that amount.

The latter has the advantage of being a great way to get them to shut up about the extra crap they want to sell at the end (undercoating? paint protection? Do they do that on motorcycles?). "Sorry, that would throw off the amount and I'd have to go back to the bank."

Pretend it Craigslist. Offer car stereo stuff or paint ball gear in trade.

Or you can get some of those big bags with a dollar sign on them and pay in small bills!

Step 1: get a dumptruck

Step 2: Pennies

Step 3: laugh your ass off.

The last one I did like that I wrote a check for the entire amount. No questions asked.

I've done it with personal cheques most of the time, but I did buy one on a credit card years ago. The salesman didn't know how to deal with it when I flipped the card on the desk.

They will almost always take a personal check. They shouldn't need to run a credit report. You're not leaving there with the title that day anyway; they have to do the title paperwork to transfer it into your name. They will wait for the check to clear before sending you the title of the car. For the interim period they will give you temporary tags. (One of the benefits of buying at a dealership.)

This is based on my limited dealership buying experiences, three times that I can think of, ranging from $1100 to $13,500.

When I traded in a Benz 300e for a 4-Runner, the salesman offered $500 for the MB.

I was going to pay in nickles.

We've never had one turn down a personal check.

if you can use a CC, why wouldn't you .... look at the rewards pts pilling up

I once showed up at a Mazda dealer that was advertising left over Mazda 626 V6 5 speed models. They had 16 of them. I showed up with my truck, an empty trailer, my checkbook, and a copy of the ad in the newspaper. Left 2 hours later with an unregistered car for the advertised price and refused to pay added dealer prep fees, registration, etc. The one I took was actually in the building on the showroom floor. Told them it was going to be a race car and not be registered, but because of possible legal issues they had better fill out a RMV1 form so I could get a title. They were not too happy with the whole transaction, but I threatened to call the AG.

I got a loan from the bank that came in the form of a blank check. I could write it out up to a certain amount, the more I used the lower my interest rate. Then I just filled out the check after settling on a price. The dealer liked it because it was a bank check, I liked it because I could pay it off immediately and not have to deal with any issues.

If you have Amex, call them up and tell them what you are planning on doing and pay with it.

I have bought cars for that amount with cash ( had to run to the bank because my ATM kept getting declined for that much). I also bought a new Acura RDX with a 15k cashiers check and the rest on Amex, and also put a hefty dp with a Visa on another car.

I am not sure where people get that you cant buy something worth more than 10k with cash?? Or that there is a CC limit. At least here, I have never seen that happen.

Datsun1500 wrote: Maryland will not let you do the whole thing on credit card, there is a $3000 max. Has something to do with the card companies allowing returns that are not in compliance with State law

I see. Last I did was in 2008 in Florida, maybe things changed.

J

the best way for both parties involved is to agree on the price, get a final invoice from the salesman and go to your bank to get a cashiers check for the amount, come back and finish the paperwork. some dealerships will take a personal check and some won't, it just depends. you could also get a letter of credit from the bank for a line of credit or similar as a guarantee, and then pay it off asap afterwards.

Do it DMX style from Exit Wounds. Backpack fulla cash.

I swear I'll do that one day when I'm obscenely wealthy. Go in there dressed like I usually do jeans & tee shirt and see who helps me.

Oh yeah, video that shizz too.

I was going to buy my wife's car outright from the dealer, but we ended up financing it through the dealer for 90 days to get an extra discount on the car. We paid $30 in interest over 90 days to save a few hundred dollars off the car price. On day 91 we called up the finance company and paid off the balance in full. I'm guessing the dealer needed to finance X number of cars to get some sort of manufacturer kickback. It worked out in our favor though.

I bought a car from a dealership with a personal check. They did a background check and held the car until the check cleared the bank.

The last two vehicles I bought were paid for by personal check $ 24K +- for one. $10k +- for the other they were 8 yrs . apart. dealers here have a quick way to verify the check.

I hate paying by check. I wrote a check at the sales manager's desk while on the phone with my back to transfer the money from savings to checking, that the girl said would be instantaneous, and had the check come back. At least the manager dude was there while I was on the phone and didn't make me pay the $28 fee or whatever it was when I replaced the bounced check with "green money" (as my 6yo calls it).

My Mustang came in a little over 5k out the door. I did 2k in cash and 3200 or whatever on my debit card.

I bought my Royal Enfield for a little over 4 grand, from a tiny little mom and pop type independent shop. Just so he didn't have to put up with the fee, I went and got cash for him.

So, if I contact the dealer and tell them, "I'm looking to buy a bike and pay outright. Do you accept personal checks for payment?" That isn't shooting myself in the foot, is it?

I'm not 100% sure which exact bike I want. I may just get a brand new 2013 Triumph Street Tripple R, but the dealership currently has a used 2010 non-R version of the bike. About $3k less than new, but no adjustable suspension or any of the latest nifty updates. I may also get on and decide that, for whatever reason, it just isn't the right bike.

Otherwise, bank check for... say $6,000, and then the rest debit, credit, or cash. Sounds good.