Is it better to use dealership finance or a bank loan?

[Mash42]

Dealerships usually have a cash discount so I figured that if banks offer the same rates (haven't checked yet) I could just take a loan and pay cash to get that discount. Does that work? The dealerships gave me offers ranging from 1-2.5% interest. 

[jackdd]

Which dealer has a cash discount? Usually they want people to use finance, and not pay cash, because like this they earn commission.

[KhunLA]

Would think dealer would be better, as bank interest rates are silly.  If the dealer doesn't go through a bank, then probably just shop for best deal.

 

Interest rates here are silly

[Mash42]

3 hours ago, jackdd said:

Which dealer has a cash discount? Usually they want people to use finance, and not pay cash, because like this they earn commission.

That was Ford. They also had 0% interest promotion on Ford Ranger so I guess they just wanna sell. 

 

2 hours ago, KhunLA said:

Would think dealer would be better, as bank interest rates are silly.  If the dealer doesn't go through a bank, then probably just shop for best deal.

 

Interest rates here are silly

I think so yeah. I checked bank interest and it "starts from" 3%.

[connda]

It's best to pay cash.  Can't afford cash.  Then you should rethink the car purchase.

[big dendrobenaes]

22 hours ago, seedy said:

Not true. I have had 3

which bank/banks ???

[Liverpool Lou]

18 hours ago, big dendrobenaes said:

which bank/banks ???

Bangkok Bank will lend to qualifying foreign applicants

Kasikorn Bank will lend to qualifying foreign applicants.

Krungsri Bank will lend to qualifying foreign applicants.

UOB will lend to qualifying foreign applicants.

[metisdead]

Posts using ALL CAPS have been removed as there is no need to SHOUT.

 

A post with an off topic spammy video has been removed. 

[seedy]

20 hours ago, big dendrobenaes said:

which bank/banks ???

I posted a reply - but it is no longer here.

Who knows why

[thierryviteau]

The only real question is to know why people want to buy what they cannot pay ?

I never made a loan and will never ! people are so weird !

 

[JayClay]

11 minutes ago, thierryviteau said:

The only real question is to know why people want to buy what they cannot pay ?

I never made a loan and will never ! people are so weird !

 

Then you've either been flush or your life, or you've been a little dense financially.

 

If you need a vehicle and can't afford one in cash, what else would you recommend? Renting? That makes no financial sense at all. I bought my bike a year ago for 38,000bt using a credit card. The credit card balance has since been paid off and I have no further outgoings on the matter. Had I rented, I would have spent 36,000bt with nothing to show for it.

[thierryviteau]

9 minutes ago, JayClay said:

If you need a vehicle and can't afford one in cash

if you can't afford why do you need it ?

this is BS and people are victims of all this as they are victims of the vaccination !

if I cannot pay something I do not need it !

 

 

[JayClay]

49 minutes ago, thierryviteau said:

if you can't afford why do you need it ?

this is BS and people are victims of all this as they are victims of the vaccination !

if I cannot pay something I do not need it !

 

 

How else do you suggest one gets to work? And what does vaccination have to do with the topic?

Edited November 14, 2021 by JayClay

[seedy]

1 hour ago, thierryviteau said:

if you can't afford why do you need it ?

this is BS and people are victims of all this as they are victims of the vaccination !

if I cannot pay something I do not need it !

What a statement !!! 555

[thierryviteau]

On 11/14/2021 at 2:54 PM, JayClay said:

How else do you suggest one gets to work? And what does vaccination have to do with the topic?

 

what about public transportation ? And anybody who is not able to buy a car cash has really failed his life...

 

[Mash42]

This is an old thread but I came by it today and noticed the discussion around cash and borrowing. And I'd like to make 2 points. 

 

1. The loan is less than my personal safety net account. But I wouldn't pay from there, it's sacred. It makes me a free man. 

 

2. Over 5 years I pay the bank ~11% total while my worst expected investment performance over that period is in the range of ~25%

 

Finances aren't black and white. Do your math and do what you are confident of. 

[stoneinfocus]

Two people have 1.2m baht in cash in their bank. They both need a new car, and they both like the look of the new Honda Civic RS. 

 

Person A notes that Bitcoin goes up over 100% a year on average, so puts down a 25% deposit and borrows the rest at 2.99% APR. He then invests his remaining money in the digital asset and, though it's a bumpy ride, he makes an incredible return over 3 years. 

 

Person B hands over all of his cash in order to purchase the car outright, thus denying himself the chance to make some really good money. He thinks he's made a good decision. He has not.