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micha8st t1_j6otfpq wrote

Reply to comment by Baraba83 in Buy a new-to-me car in cash instead of finance? by Baraba83

We actually did what u/2ReddYet is suggesting. Back in 2016, we had negotiated online to get the car I wanted. (They had to get it shipped from Japan because the exact configuration I wanted wasn't available in the US. And I wasn't in a hurry.)

WE get to the dealership...and there's a snafu. Apparently I hadn't told them I was expecting to write a check for the car (my first time!) So. I debated with myself and my wife for a minute or two, and then I asked two questions:

  1. What's the minimum I have to finance to qualify for the incentive?
  2. how soon can I pay off the loan and still qualify for the incentive?

I ended up financing about 1/3 of the price of the car (the minimum), and as soon as the first bill came in, I swooped in and paid off the loan in full. I paid $22 in interest to get that $500 financing incentive.

BUT... 2016 was a different market....and we bought new.

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