So get a loan for a new car and then pay it off very quickly?
Would there be a penalty by paying a loan off too quickly?
The last new car I bought I did just that. I got a $3000 extra discount for financing then turned around and paid the loan off on the beginning of the third month.
After someone totaled that very vehicle in a parking lot while I was shopping I went out and bought my first-ever used car and have been very happy with it.
We are retiring soon and if we can take back our country I will buy both of us one more new vehicle and will probably have to do the early loan payoff to get a decent deal. If we need anything after that it will be used.
They say if you finance you get a better price on the car, because they make most of the profit on the financing, so they are more willing to negotiate on price. So negotiate the price, and finance it, then just pay it off. That assumes of course there is no penalty for paying off the loan early.