Overhaulin'

How much of a discount should I expect if I pay cash for a new car?

I'm looking to get a Mini Cooper, which runs around 20k. If I pay cash, how much should I expect the price to be lowered? Where can I look online to find something like this out? Is there somewhere online to look for discounts, deals, promotions? What else should I know/ look into If I'm a first time car buyer?

Public Comments

1. none.......dealers make money on financing........they most of the time only break even or actually lose money if car is paid for in cash.... now if ur buying a used car......which i would suggest.......u can expect a 2-4k discount...
2. Dealerships dont care. You'll pay the same thing. If you buy it from a private party, they may lower it a thousand or so if you get it from someone in a good mood.
3. I'd say maybe 18, the key to getting it lower is to use more than one dealership, make them compete for your money
4. Are you actually bringing in 20,000$ in cash? As in 100$ bills? Because if you're writing a check, using a check card, or anything of that nature, you're not paying cash. And seeing as there is no benefit at all to a dealer receiving a giant pile of dollar bills, there is no discount they will offer you.
5. Cash customers are NOT the preferred buyers and will not see a significant price advantage compared to a customer with good credit. We prefer a good creit score to a cash customer all day. Why? Well a cash customer is less likley to buy warranties, maintenance packages, LoJack, etc, We get profit from all of those things. We also get profit from the bank contract itself. When you pay cash, you are effectively shutting down several opportunities for a dealer to make profit. This thinking goes back to the old days when banks took weeks, sometimes months, to fund a deal. We would send in a contract then have to wait for the bank to cut a check and send it to us. Back then, cash spoke loudly. Today, a customer with a strong credit score can finance a car, ans we get our money within a couple of days. Sometimes its a matter of hours. So the old myth of cash making our eyes light up like a cartoon character are over.