Cash Back on Vehicle Offers

[Tarrant64]

There are some crazy cash back deals going around with the auto dealerships around my area (and I'm sure others).

The $1,500-$7,000 cash back deals, are they just tax credits? if so wouldn't there be chances of getting screwed over depending on whether or not you even owe taxes that year??

 

[FallenHero]

consider it more like "value off the sticker price" then anything else

 

[Gibson486]

they are rebates you that get subtracted from the price (whther it's applied after tax or before is another story).

They are not tax rebates....however, this year they are allowing you to claim taxes paid on your new vehicle purchase.

 

[RaistlinZ]

Really? They just take the $5,000 off the sticker price? I was thinking it was a mail-in-rebate kind of thing.

 

[spaceman]

its bupkis
kinda like stop in and save money 2day by buying a NEW CAR!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1

 

[MrChad]

Yeah my understanding is that "cash back" was just "$x off sticker price". These deals can sometimes come from the factory, which means the dealer is willing to negotiate the price a bit lower as he will not be taking the hit from the cash back offer.

Take a look at some of the advice on http://www.carbuyingtips.com/. They have some helpful spreadsheets for figuring out where you should start your negotiations.

 

[Tarrant64]

Cool, thanks everyone. Wish I could walk in the door and say "I'll take the cash literally and pay just a little more but still under sticker price."

I could afford more with a credit card paid off.

 

[tfinch2]

Originally posted by: Tarrant64
Cool, thanks everyone. Wish I could walk in the door and say "I'll take the cash literally and pay just a little more but still under sticker price."

I could afford more with a credit card paid off.

Pay off debt just to get into more debt. Awesome!

 

[sswingle]

Originally posted by: tfinch2

Originally posted by: Tarrant64
Cool, thanks everyone. Wish I could walk in the door and say "I'll take the cash literally and pay just a little more but still under sticker price."

I could afford more with a credit card paid off.

Pay off debt just to get into more debt. Awesome!

Tis the american way after all.

 

[Exterous]

Originally posted by: sswingle

Originally posted by: tfinch2

Originally posted by: Tarrant64
Cool, thanks everyone. Wish I could walk in the door and say "I'll take the cash literally and pay just a little more but still under sticker price."

I could afford more with a credit card paid off.

Not pay off debt just to get into more debt. Awesome!

Tis the american way after all.

Fixed

 

[Chryso]

Originally posted by: Tarrant64
There are some crazy cash back deals going around with the auto dealerships around my area (and I'm sure others).

The $1,500-$7,000 cash back deals, are they just tax credits? if so wouldn't there be chances of getting screwed over depending on whether or not you even owe taxes that year??

You ALWAYS owe taxes.

 

[Tarrant64]

Lol. Well, let me put it like this. I'd feel better knowing I'm making payments on a car I like, then on a credit card that makes it seem depressing. I'm running into an issue where my car could be giving up on me and the payments I make on my credit card could easily help out on a new car, instead of trading off onto another used car just to take on issues with that. right?

yes, I know, shouldn't be in debt in the first place but I stopped taking out student loans and am paying my way through the rest of college. I'm not that much in though.

 

[boomerang]

Originally posted by: Tarrant64
Cool, thanks everyone. Wish I could walk in the door and say "I'll take the cash literally and pay just a little more but still under sticker price."

I could afford more with a credit card paid off.

You used to have the option of cash in hand or cash applied towards purchase. I haven't seen cash in hand advertised for many years, so those programs are probably dead and gone.