0
It can easily be done if there is no question of qualifying for a loan. We bought a car for cash and then financed it with a bank/credit union. It is less expensive that way because dealerships charge so much for their loans and banks are more reasonable, credit unions even more reasonable.
What else can I help you with?
How is it possible to pay cash for a car?
It is possible to pay cash for a car, one would have to go to dealership to make the purchase, most dealer make a commission when buyers choose financing, after the prices have been agreed on, then one can pay cash.
Does credit score improve if you purchase a new car by financing instead of paying it all with cash?
Yes...If you get a car loan and make your payments on time this will help your credit score. If you pay in cash, nothing will be reported to the credit agencies.
Is the purchase of a car with cash reported to the IRS?
No, the purchase of a car with cash is not typically reported to the IRS.
Can a car dealership cash your check that was used for down payment if you were never approved for financing?
A check given to the dealership will be cashed. This is normal in business. Whether they can keep the money or have to return it is based on what your purchase agreement reads. Where I live if the purchase agreement has "Subject to financing" on it the down payment must be returned if the dealer can not get you financing and you can't get outside financing. If it does not have that in it they get to keep the money.
Is the purchase of a car in cash required to be reported to the IRS?
No, the purchase of a car in cash is not required to be reported to the IRS.
Do car dealers offer discounts for paying cash?
Yes, some car dealers may offer discounts for paying cash, as it can save them money on financing fees. However, not all dealers will offer this option, so it's important to ask about cash discounts before making a purchase.
Does a dealer need your social security number to purchase a car?
Not if you pay cash or with a bank check; the may use it for financing. Never just give that number willy nilly
What is the best way to finance a car purchase?
There are several options for financing a car purchase. If you are buying through a dealership, they may offer financing for their customers. You can also get a loan from your bank or credit union.
Why is financing a car a bad idea?
It isn't unless you have the money in cash to pay for one. If it is an older used car, then you would do better to save up for it. Financing costs money.
Why financing a car is a bad idea.?
It isn't unless you have the money in cash to pay for one. If it is an older used car, then you would do better to save up for it. Financing costs money.
How do i finance a car?
Find the car you want, then apply for a loan w/ financing institution..
What are the options for a payment plan for a car?
The options for a payment plan for a car typically include financing through a bank or credit union, leasing the car, or paying in cash. Financing involves taking out a loan and making monthly payments with interest, while leasing involves paying a monthly fee to use the car for a set period. Paying in cash means buying the car outright with no loan or financing involved.
