How do people manage to buy a new car outright with cash?

[MikeLowrrrey]

An old boomer buying with cash makes sense. But other folks I don't see how. Is it just a matter of saving over 5 years + trade in?

On top of that, I'd hate to see $40k missing from my bank account.

[Dave22reborn]

By not listening to someone like you, by not living their life, like you?

[blueberryboy]

I'd rather see 40k missing from my bank account one time than 6 years or whatever of interest payments .

[BigTimeOperator]

Most working class people I know will buy one when they get and inheritance so they wont have a payment. I also know a guy who cashed out a few thousand from his 401K when he left his job for another to buy a used car.

[LateShow]

Same way people pay cash for anything- save up until they have enough, then buy it. If you really look at what you’re spending money on, it’s pretty easy to find $5 here or there that doesn’t need to be spent, and over time it adds up. Old phone, no cable tv, meal prep, stock up when things are on sale. It’s not too tough. If you can bodybuild, you can save money

[iTunesBrah]

my dad firmly believes in this.

He's bought all of his cars brand new cash upfront and doesn't believe in lease payments.

he spent 50k on his last car and has driven it for 8 years now.

He's frugal

[blueberryboy]

Same way people pay cash for anything- save up until they have enough, then buy it. If you really look at what you’re spending money on, it’s pretty easy to find $5 here or there that doesn’t need to be spent, and over time it adds up. Old phone, no cable tv, meal prep, stock up when things are on sale. It’s not too tough. If you can bodybuild, you can save money

Yup all about examing discretionary spending

Even pissing away 20 bucks a day is 600 a month

[JayJ350]

By having money? Bought every car I own with cash crew.

[propreffered7]

An old boomer buying with cash makes sense. But other folks I don't see how. Is it just a matter of saving over 5 years + trade in?

On top of that, I'd hate to see $40k missing from my bank account.

I know what youre saying

Cause the other stat is most people dont have 300 or 1000 in savings

Would be pretty weird to be able to pay 40k in cash but only have 300 in savings

[MiscMathematician]

Thats all I'll ever do unless I get a great promotional APR like 0%

[6gorillion]

lots of people inherit money and try to play it that they're "self-made" and use some of the lump sum they got to buy what they want.

[blueberryboy]

Thats all I'll ever do unless I get a great promotional APR like 0%

This

30 years old , only on my 2nd vehicle because the first I drove for years

Both paid in cash

Lol at being an interest paying npc when u don't have to

[viccruise420]

This

30 years old , only on my 2nd vehicle because the first I drove for years

Both paid in cash

Lol at being an interest paying npc when u don't have to

Quick acting like you have money and your life together bud we all know your story you told it a million times, you got a regular ass job and a cheap condo ur pops gave you 30% for, you drive a chitty buick sedan

[bsmit107]

I only know 1 person who's bought new cars with cash and his family has owned a construction business for 40 years and he's #1 in line to take over here in about 2-3 years.

I've paid cash for all of my vehicles, the most being $16k (for a weekend toy)....except 1 and it was financed during CVID in 2020 and I got 0%...Thanks Chrysler Capital.

[Visel]

I'm a rentcel and able to save $30k+ at the lower end, maybe even up to $50k+ if I was particularly frugal (and especially if I didn't contribute a dime towards any holiday, ate only groceries, broke up with the GF lmao). Then investments are bringing in some net worth gains too.

The new Toyota Camry 2025 is predicted to be about $30k, so if you're in the upper class income it's only about a year's worth of savings to fully buy a new car, less if you do trade in obviously.

In 2022 the average savings in America was $5k/yr. Assuming you had $10k-15k worth of trade in, you could afford a car every 3-4 years. Just means you're not doing anything else with your savings like investing. So maybe round it up to 5 or 6 to be more practical.

[N0stradamus]

It's quite simple, OP:

1) I ask them "how much?"
2) They say "It's $XXX out the door"
3) I say "I'll give you 80% of the quoted price, you don't like it, see ya."
4) They say "Yes, sir, anything you want, sir."
5) I whip out my check book, pay, take the keys and leave.


The car market is experiencing a correction right now, OP. Now would be a good time to shop around if you're looking for a new car.

If you're looking for an EV other than Tesla, dealerships are DESPERATE to unload their EVs cause nobody is buying them (except for Teslas).

[dingler]

It's not hard to buy a new car in cash but why would you? If you can get a reasonable interest rate you are better off investing the cash and making payments.

[blueberryboy]

Quick acting like you have money and your life together bud we all know your story you told it a million times, you got a regular ass job and a cheap condo ur pops gave you 30% for, you drive a chitty buick sedan

Lol fair enough but imo buicks look pretty decent now days

[BigTimeOperator]

I think most Buicks are assembled in China, but if that doesn't bother you, they have some nice looking vehicles.

[TryingMen]

If you can't buy it straight up you shouldn't be buying it. Most people need to be taking public transportation anyway because they're ass at driving

[viccruise420]

Lol fair enough but imo buicks look pretty decent now days

To give you some credit, most people around your(our) age, probably working like you(we) do, take the bus or have a car loan lmao!

What year n model you whippin fam?

[AlfBundy]

You made this exact same thread a few weeks ago brah, almost verbatim

[TokenV]

If you're looking for an EV

[blueberryboy]

To give you some credit, most people around your(our) age, probably working like you(we) do, take the bus or have a car loan lmao!

What year n model you whippin fam?

2014 verano

Had it for 3 years now

Reliable as fuk too


https://imgur.com/a/Zwv0LY2

Not bad for a car I picked up pretty cheap relatively... 3 years ago

[ParsleyTea]

A car salesman was telling me last year that a German guy came in and bought a car with cash, literally. He had a briefcase full of money to pay for his car.

[JayJ350]

If you're looking for an EV

[viccruise420]

2014 verano

Had it for 3 years now

Reliable as fuk too


https://imgur.com/a/Zwv0LY2

Not bad for a car I picked up pretty cheap relatively... 3 years ago

My cousin almost bought one of those, just a 4 banger eh

My wife has a 2015 jeep cherokee im honestly not a fan, won't buy another Chrysler product, i just don't like the build quality, well the interior and all the parts inside, the seats, it doesn't track straight, it is a solid 4wd tho and got it for a good price, only has like 50k km on it. Ive got a 2020 corolla, think its a great car, financed tho, spent too much money on used cars that **** out on me, had a sickening wrx but blew the transmission, paid a ton to upgrade the whole drivetrain, dumped it before the engine blew, had a forester that rotted out, a gmc jimmy that blew up, a 4runner that blew the head gasket and was burning coolant, said **** it i need a new car and im done paying cash and fuking myself over

[Sal29]

An old boomer buying with cash makes sense. But other folks I don't see how. Is it just a matter of saving over 5 years + trade in?

On top of that, I'd hate to see $40k missing from my bank account.

The only time I financed a car was before college. My dad co-signed and I made the down payment and all the payments.
It was to build up my credit and I made extra payments and paid it off in a few years.
Buying a new car is stupid unless you make at least 500k and year and have a net worth over 1 million dollars and growing.
It's best to buy a 3 to 6 year old car private party cash and get a pre purchase inspection.
I've literally used cars for 3 years and sold them for a profit because I always get great deals. You're never going to get even a fair deal at the Stealership let alone a great deal.

[blueberryboy]

My cousin almost bought one of those, just a 4 banger eh

My wife has a 2015 jeep cherokee im honestly not a fan, won't buy another Chrysler product, i just don't like the build quality, well the interior and all the parts inside, the seats, it doesn't track straight, it is a solid 4wd tho and got it for a good price, only has like 50k km on it. Ive got a 2020 corolla, think its a great car, financed tho, spent too much money on used cars that **** out on me, had a sickening wrx but blew the transmission, paid a ton to upgrade the whole drivetrain, dumped it before the engine blew, had a forester that rotted out, a gmc jimmy that blew up, a 4runner that blew the head gasket and was burning coolant, said **** it i need a new car and im done paying cash and fuking myself over

Yup 4 cylinder. I used to drive a v6 accord

That corolla will last you a very long time atleast

My brother in law had a Chrysler that basically fell apart now he's financing a 2017 jeep grand cherokee.

I'm happy with this buick for now all things considered ( model was discontinued in like 2017)

Only thing I had to replace in 3 years of driving it was the battery

Has 140k ~km

[viccruise420]

Yup 4 cylinder. I used to drive a v6 accord

That corolla will last you a very long time atleast

My brother in law had a Chrysler that basically fell apart now he's financing a 2017 jeep grand cherokee.

I'm happy with this buick for now all things considered ( model was discontinued in like 2017)

Only thing I had to replace in 3 years of driving it was the battery

Has 140k ~km

Yea thats what i figured, a dependable car that has excellent build quality.

Sounds like the buick is treating you very well thats pretty good!

What would you buy next?