The dealership in south jersey found me a CR and brought it to me.

 

Basically what you want is an "unsecured" loan, which means that you don't have to put up any collateral. The "pre purchase" loans I use to get were usually issued for a period of 90 days, with interest being payable every 30 days, and the pincipal being due at the end of the 90 day period. Once you purchase the car, they write another "regular" loan, using the car as collateral, and the proceeds from that loan pay off the unescured loan. Since you only have the unsecured loan for a few days at most, the interest is only a few bucks, and if you pay back the unsecured loan the same day you take it out, some institutions won't even charge you any interest.

Instead of trying to tell the banker or loan officer what kind of loan you want, just tell them what you want to do. You want to be able to buy a car and use cash to get a better deal, so you need an unsecured loan for a very short period of time, a few days at most. Credit is tight right now, and lots of people are having trouble getting loans approved, but if you have a high enough credit score, most lending institutions will bend over backward to help you out. Most of them are actually looking for good credit risks at this point, to help offset all the questionable loans they've made over the last decade or so.

You know, the way I learned that you could do this kind of thing was through a banks loan officer. I wanted to buy a motorcycle, and I wanted to offer the seller cash to try to get a better price. I simply asked the loan officer if there was any way we could make that happen, and he told me about the short term unsecured loans. They are very low risk for the lending institution, and I think they help boost your credit score.

As for dressing or acting like a "baller," and "making it rain" at the dealership ... Well, that's not my style and not exactly what I had in mind.
I shop for cars wearing worn Levi's, tee shirt, and jogging shoes. Be yourself, but keep in mind that you are the customer, and that you are in control. Dealerships are normally in total control of every sale they make, but whether you are paying cash or planning to finance through the dealership, you have to obtain and retain control of the transaction, or the dealer will stick it to you before you get out the door with your car. Don't be a jerk or treat them like jerks; Be professional, but don't take any crap. Do NOT be afraid to walk out if they start trying to jack you around. S2000's aren't as easy to find as used Civic's, but there are plenty to be had, and plenty of dealers that want your business badly enough to deal with you fairly.

Never be afraid to walk away from a "deal." I'm not a naturally ruthless person, but when you deal with people who sell cars for a living, you have to be at least as ruthless (and professional) as they are, or you'll spend more than you needed or intended to spend.

Be honest with them, and accept nothing less in return.

One of the nice thing about making short term loans with a good lending institution is that in so doing, you develop a relationship with them, so when you need loans later, they're easier to get, and you'll get a better rate. A good credit score gets you in the door, but a good relationship with your lender does even more.

 

When I was trying to decide what MY S2000 I wanted, I brought three different cars home over a weekend, on three different weekends, and then had the dealer locate a fourth car that I liked. They actually picked up two cars at the same time, an MY00 and an MY02, so I'd have a choice. And when they get a CR in that isn't pre-sold, they'll be calling me so I can take it out for a test drive. If I express any real interest in the car they'll probably try to talk me into taking it home for the weekend (this is a form of what is known as a "puppy dog sale"), but if they do, I'll decline the offer, becaue I'm really not interested.

When we were shopping for a car for my wife (we eventually decided on an E320 Benz) we looked at the 7 series BMW's, and the BMW dealer tried to puppy dog a 750 iL. I told them I had NO INTEREST AT ALL in cars over $100,000.00, but they STILL wanted me to take the car home and "enjoy it for a few days." And on top of that, they INSISTED that we drive a new 750, using the excuse that the *salesman* wanted to go for a ride in the car.

Most dealerships will do pretty much anything if they think you have moeny or credit that they can get their hands on.

 

Thanks for the wonderful advice everyone.

 

If you don't mind going to Raleigh there is a carmax there. Check online to see if they have an S2K, click on what you need to to have them hold it for you to get there, then drive it.

I used to work at carmax, part of their job is to let customers drive anything they want. ANYTHING. Make it a day to drive the 350, Z3/Z4, saturn redline, slk, etc. The salesperson will totally understand. If they have a saleen with a supercharger, drive that too!

Even though they are used you will at least get a chance to compare back to back. They will have a predefined "course" that you and the salesperson will go on with at least one strait away and a couple curves.

If you do fall in love with a car and want to take it for an extended test drive just ask. They will usually do this as well. Depends on the salesperson.

I have bought my last 5 cars from carmax, even after I quit. Got my 2001 for a great price and had extra cash for mods.

Good luck. HUA!

 

^I've got a friend at Kunsan right now.

Closest carmax is in Winston-Salem, NC (3 hrs 41 mins away according to yahoomaps. and Raleigh is 3 hrs) There's a carmax in Columbia though. Just no s2000. Good thing about that is that all I'd have to do is pay the transfer fee. Now I just gotta test drive so make sure I like it. Hell, I'd settle for just taking a ride in one at this point. I know how I am about people driving my car. Esp people I don't know very well.

Hey SlackerUSC....

 

If you want to drive to raleigh I'll give you a ride.

If you act somewhat human Ill let you drive it , hahah .

You will know if you want to own the car just by sitting in it. Its that polar.

 

I was just at Carmax yesterday getting mine appraised. I'd been debating selling it because of some life changes coming down the pipe... Needless to say, it won't be to Carmax

I'd be glad to give you a ride sometime. Depending on conditions (traffic/weather/location) I might even work up the nerve to let you drive it. (It just hit 2k miles, and no one has driven it but me yet) Just PM me and let me know if you're going to be in town sometime.

The Honda dealership on Greystone Blvd has an '08 in the showroom; (chicane silver w/ red/black) that I considered before buying my 07. It's number 00017, which I thought was pretty cool. I'd be more than happy to head up there with you and check it out.

 

Just noticed you were going to be here Saturday mornin, PM me with the time and I'll meet ya somewhere. I'll be heading to 5 points for St. Pat's around noon, but any time before that I should be free.

 

i dont get it. i bought my s2k with 4500 miles on it when i was 20. i'm also in the military and didn't seem to have problems getting test drives so much as dealing with horrible salespeople