Buying a Honda crv all cash

Wayfair / Eng
lLmi30

Wayfair Eng

PRE
Wayfair, Cognizant, Tech Mahindra
BIO
software engineer
lLmi30more
Jun 28 70 Comments

Hi community, I have 110K in total savings and I am thinking of buying a Honda CRV costing approximately 30k, paying all cash. First time car buyer here. Since I will be making a cash payment how much can lower the price here?

Would you recommend going the all cash route.

Context -
Current TC 140
Moving to amazon TC 210
came from India 4 years back

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TOP 70 Comments
  • Drive.ai zyz
    Get a loan with a credit union, don't buy all cash. You can get a better return on your money elsewhere, and it builds your credit score.
    Jun 28 18
    • Microsoft Nudibranch
      Dave Ramsey is for people who are trapped in debt. If you're managing your money well and just want to do the smartest thing with your money a car loan at 2% or 0% is fine because you're going to make the payments and can pay the car off in an emergency.
      Jun 28
    • Roku
      nutcra

      Roku

      PRE
      Yahoo
      nutcramore
      Loan is such a dumb advice, follow the Dave Ramsey advice. I would also say that you don’t need a 30k car, stop the show off. Get a used car, thank me later. If you really feel like showing off, rent a car.
      Jun 28
    • Drive.ai zyz
      When the best argument you have is saying getting a loan "is dumb"... 🤔 Oh, together with an argument of authority, of course!
      Jun 28
    • Google / Eng pumaupma
      Can you really get that 8% elsewhere in today's market?
      Jun 28
    • Drive.ai zyz
      S&P500 year to date is >15%.
      Jun 28
    • Reddit u7hj55
      @pumaupma you can get <3% with good credit on car loan. Check Bankrate.
      Jun 28
    • Microsoft Nudibranch
      Agreed with others here that buying a new car you will eat the depreciation. Since a car is not an asset financially it's best to buy used. Depends on your priorities. I've never bought new and don't ever plan to.
      Jun 28
    • Tableau / Eng TacW56
      Mazda CX-5 is a much better vehicle all around. Save some $$$ on one that’s 1 or 2 years old.
      https://www.caranddriver.com/reviews/a27255337/2019-mazda-cx-5-reliability-maintenance/
      Jun 28
    • Intel Act2016
      Paying cash is not what people think it is. Getting alone allows them to make additional money, so they lose money when you pay cash, and they miss the opportunity to be the finance company
      Jun 28
    • Samsung
      chajimogo

      Samsung

      BIO
      Stressed out but surviving
      chajimogomore
      You are taking a loan on a pretty much sure thing depreciating asset. It makes no sense. Real estate on the other hand tend to go up over time.
      Jun 28
  • Adobe Previously
    You are smart enough to work at Amazon but still buying an ICE car? Get a Tesla, Leaf or Kona
    Jun 28 11
    • Microsoft / Product mariolopez
      Electric vehicles in Washington are primarily fueled by coal powered plants.
      Jun 28
    • Microsoft SatyaClaus
      You are smart enough to work at Microsoft but believe your electricity is primarily coal?
      Jun 28
    • Amazon kYj7NT
      If they work at Microsoft and live on the Eastside then most of their electricity comes from coal in Montana. If they're in Seattle then almost all electricity comes from hydro.
      Jun 28
    • Apple Snut Ella
      This isn’t quite true, but coal does play a bigger part than I thought. 38% for coal in 2017 for PSE. Hydro is only 33% which is less than most places in WA.
      Jun 28
    • Google Jeremey
      Total cost of ownership of an electric car is actually lower than ICE given the same sales price.

      As to how the electricity is produced, that’s a moot point as electricity is quickly going green everywhere and more electricity demand from EVs actually speeds this process.
      Jun 28
    • Adobe Previously
      Your coal argument makes you look even more stupid. About a half dozen solar panels will cover the electric needs of a car for 12k miles a year. Pretty sure you can afford 5 or 6 solar panels working at a big tech company.
      Jun 28
    • Oracle Gt69hy
      Even if you factor for transmission losses, and assume the electricity is produced by dirtiest coal producing plant an electric car is still more efficient and safer for the env than an internal combustion engine. Large power plants do things in scale . You work for Microsoft and you should be able research this.
      Jun 28
    • Microsoft QGws83
      Enjoy your coal-powered car with 200 mi range, lol
      Jun 28
    • Adobe Previously
      @QGws83 I have solar you moron, as well as Apple devices and almost everything I use runs on AWS. Microsoft has been watching the world go by for decades now—because it’s full of people like you.
      Jun 29
  • Gap / Eng randUser
    Don't get a CRV. Get a CX-5.

    And buying a car new with straight cash is stupid. Interest rates are low and you can get close to invoice pricing via Costco and similar services
    Jun 28 0
  • Microsoft
    BoomSauce

    Microsoft

    BIO
    Dropping knowledge and turds in equal measure
    BoomSaucemore
    With $110K savings I wouldn't buy new. No offense.

    Autotrader.com and buy used. Cheaper, does exactly the same thing, and you have more money to invest
    Jun 28 0
  • Google Jeremey
    Get a Tesla instead. It will be the best purchase of your life.
    Jun 28 1
  • Salesforce op
    Start by reading about cr-v (and newer Honda in general) problems with turbo engines. Oil and gas mixes, power loss etc.
    Jun 28 0
  • Uber wcfljds
    Why even buy a car when you can just Uber
    Jun 28 5
    • Because we don’t all live in a 7x7 city.
      Jun 28
    • Because we have pets and Ubers don’t allow pets.
      Jun 28
    • Drive.ai zyz
      Also taking an Uber is pretty slow as compared to driving, especially if you use Pool.
      Jun 28
    • Facebook Ayci39$
      Uber works great for all but hopping around. When you want to go to like 3+ places in a short timeframe then it’s annoying. In this regard a city with tons of taxis where one may simply walk out of the establishment and hop into one in seconds without thinking is nice. Since America has few such cities, having a car is nice for such occasions.
      Jun 28
    • Uber wcfljds
      About the pets policy, you can’t even go in a Starbucks to get a coffee if you have a pet. So shush.

      About the Pool option, take an UberX if time is a constraint.

      Yes I agree.. Uber works great especially when parking is a problem or if you are tired and don’t feel like driving or even going to a nice restaurant - instead of paying for the valet you pay for the ride
      Jun 28
  • MathWorks >>MW
    I also bought CRV few years back, and I love it. But making all cash payment doesn’t make sense. Get a loan from credit union, I got mine for 1.99% and better invest money somewhere else. If you are not comfortable in investing here, even in India the safest fixed deposit will give you around 7.5% returns.
    Jun 28 1
    • Can I invest in fixed deposit in India as an American?
      Jun 28
  • Amazon DaNf37
    My experience has been that an all cash offer is actually less attractive to dealerships. They prefer it when someone engages in a partial finance option through their in house loan options, such as Honda Financial. They will typically get some sort of kick back on top of the margin the squeeze out of the price negotiation.

    Therefore, I would not recommend letting them know it’s an all cash offer until all prices are negotiated. In fact you maybe able to negotiate a lower price if you state a willingness to finance with them directly. If you want to pay it off afterwards, that is up to your money investment strategy.
    Jun 28 0
  • Adobe Previously
    Over 400 gas vehicle fires per day in the USA. Why would you drive an explosive vehicle? Tesla 3 holds value way better than CRV. Wait until VW dumps 20 electric models on the market and the resale value of your shitty gas car goes to $10k in 4 years
    Jun 28 5
    • Adobe Previously
      Wow, you are a genius. What is that less than 20 Tesla fires ever in the world?. Gas cars = 400 a day, just in the USA.
      Jun 28
    • Adobe Previously
      Fire is 11 times more likely with gas car, if common sense couldn’t tell you that the risk is greater w gas. https://money.cnn.com/2018/05/17/news/companies/electric-car-fire-risk/index.html
      Jun 28
    • Salesforce op
      I am sorry you think I fucked your cat and grandma. It was not me. No need to get so personally invested into the discussion.

      While you chill the fuck out, do you have data on fires per mile driven for electric vs gas card?
      Not because I am against electric cars but because I am curious and you already have enough time to get so attached to conversation.
      Jun 29
    • Adobe Previously
      Use your brain, an ice car has over 10 gallons of explosive material on it. Have you ever played with gas and matches? Have you ever had a battery explode in your hand, even with matches? Nope. You are buying the same dumb oil company arguments. Maybe you should stop dreaming about fucking cats and actually think. I included the cnn article that gives you a reference for the miles per fire and also summarized it for you, the number is 11x by miles more likely for gas car fire.
      Jun 29
  • Amazon / Product TheStreets
    Buy through Costco's auto program then pay in cash. Honda's are fantastic cars. I had one for 13 years and only got a different car bc I was hit in a car accident, otherwise it would have lasted a min. 20 yrs.

    Go cash, don't pay interest on a loan. Buy 2019 model as 2020s are rolling out.

    You could go slightly used but with your TC and the targeted vehicle, rock out and get new.

    I own cars for the long haul as I do extensive research and have a difficult time fitting in cars.
    Jun 28 3
    • Salesforce op
      Recent turbo engines have problems. Oil mixes with gas etc. Just search on YouTube or Google.
      Jun 28
    • Amazon / Product TheStreets
      All crvs are turbos? If so, thats pretty bad for Honda. I know a few years ago the Honda pilot scored better than their luxury Acura MDX models.

      I think Volvo also started having issues on certain models due to a factory location switch
      Jun 28
    • Salesforce op
      Only base LX is non turbo.
      Jun 28
  • Microsoft leetworld
    I bought crv all cash this year 32k no issues. Dealership will try to sell you a loan because it's free money for them so just reject and give a check.
    Jun 28 1
    • Apple Snut Ella
      After agreeing on a price, ask if you can get an additional discount if there is a loan.
      Jun 28
  • Oracle
    uNTN08

    Oracle

    BIO
    Life, Liberty, and the Pursuit of Happiness
    uNTN08more
    +1 to Credit Union. Also check Honda finance. You might get a 0 to 1% loan on low down. Always try holding on to cash as much as possible. A 5 year 1% auto loan from Honda Finance isn't going to add much to your cost but keep that money in the bank
    Jun 28 1
    • Amazon
      dajita

      Amazon

      BIO
      L
      dajitamore
      Invest that money in a FD and u get 6% annually.LOL
      Jun 28
  • buy an used car for 10K. invest rest in education or something else. thank me 10 years later.
    Jun 29 0
  • Amazon seattlr
    Instead, you should buy $5k used car, put $25k in BTC. Better way to invest $30k bro
    Jun 28 0
  • Oracle Poas871285
    Don’t listen those jerks telling about used cars. With 210 TC you can easily afford 30k new car. You should enjoy your life within your budget boundaries
    Jun 28 0
  • Microsoft fah-loozy!
    Pro tip: a single email to every dealer in your area stating specifically what want (model options colors...) and asking for their “best offer out the door price” including all taxes and fees. Tell them you haven’t decided on financing vs cash, so if there are different all cash incentives to not the multiple price points. Make sure they’re aware other dealers are on the to line.

    Also kbb.com has a “fair price” data on their website so if find something in that range you’re good.

    If you go on lot and talk to one of their salespeople you’ll get some crazy high numbers.
    Jun 28 0
  • eBay / Product blitzer
    Get an electric like Chevy Bolt EV. Gives 240 miles on full charge and save $3k in gasoline costs a year. Plus you get federal and state tax deductions.
    Jun 28 0
  • Adobe Previously
    Jul 1 0
  • Microsoft QGws83
    Gross man. Get an Outback instead
    Jun 28 0
  • Yelp ABeQ74
    Buy used
    Jun 28 0
  • Ally Bank gives you 2.3% interest on cash. Why not buy a car on cheap borrowed money instead?
    Jun 28 0
  • Medallia Maximus8
    You might get no apr deals with higher cash down. Go with loan at lesser apr. invest the cash somewhere else make more money 💰
    Jun 28 0
  • New / Consultant
    DD1111

    New Consultant

    BIO
    DD1111more
    Create account in edmunds and post this question
    Jun 28 0