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Pros and cons of buying a car with cash. Pros: No monthly payments: The best part about paying for a car with cash is that you never have to worry about monthly loan payments. You will have more ...
Paying cash for a car can be a good move to eliminate monthly payments and other issues, but you should make sure it's best for your financial situation first.
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Floor planning is commonly used in new and used car dealerships. [2] Contrary to common perceptions, most car dealers do not pay cash for the vehicles on their lot. [ 3 ] Even smaller dealerships can have an inventory of vehicles representing millions of dollars of capital investment .
In the used car market in the United States and Canada, buy here, pay here, often abbreviated as BHPH, refers to a method of running an automobile dealership in which dealers themselves extend credit to purchasers of automobiles. [1] Typically, purchasers of cars at BHPH dealerships have poor credit history, and loans have high interest rates. [1]
The best way to buy a used car, according to money expert Rachel Cruze, is to pay with cash. However, if you have never paid for a used car using cash you might not fully understand the ins and ...
In the United States, new car dealerships have service departments that are certified by their respective OEM (Original Equipment Manufacturer) to perform warranty and recall repairs. Customer-pay repairs can also be completed, however most service departments tend to only work on the vehicle brand of which they are a dealer. Dealership ...
The dealership makes money from financing cars; the more cars it finances, the more it makes. Again, knowing the total price you want to pay for the car is key — including your down payment.