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Posted: 3/1/2006 2:49:20 PM EDT
If you walked into a dealership and paid for a expensive car with cash outright would they call the cops?
Link Posted: 3/1/2006 2:49:51 PM EDT
Probably.
Link Posted: 3/1/2006 2:49:59 PM EDT
My father did that a few times, gave him a discount...
Link Posted: 3/1/2006 2:50:30 PM EDT
They didn't on me. That I know of.
Link Posted: 3/1/2006 2:54:09 PM EDT
[Last Edit: 3/1/2006 2:54:53 PM EDT by BillofRights]
Why would they? What may seem expensive for some, is pocket change for others.

If you are that worried about it, use a straw purchaser. (for cars ONLY!)
Link Posted: 3/1/2006 2:54:42 PM EDT
I doubt it. Happens all the time.
Link Posted: 3/1/2006 2:56:06 PM EDT
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).
Link Posted: 3/1/2006 2:57:15 PM EDT

If you walked into a dealership and paid for a expensive car with cash outright would they call the cops?


I have done this several times, I also plan to do it again shortly. I have never been hassled.
Link Posted: 3/1/2006 2:59:39 PM EDT

Originally Posted By yobo:
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).



That would be correct.

Also, don't expect any real discounts for paying in cash, they actually prefer financing as they get a kick back from the lender.

Link Posted: 3/1/2006 3:00:37 PM EDT
If you use money (green-backs) they inform the Feds. If you use a check, even a personal one, the Feds don't have to be informed.
Link Posted: 3/1/2006 3:00:53 PM EDT

Originally Posted By Hellraiser:

Originally Posted By yobo:
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).



That would be correct.

Also, don't expect any real discounts for paying in cash, they actually prefer financing as they get a kick back from the lender.



+1, coming from a former auto financier.
Link Posted: 3/1/2006 3:01:22 PM EDT
I paid cash for my Landcruiser.
All $4,000 for it.
Link Posted: 3/1/2006 3:02:32 PM EDT

Originally Posted By ardave:
If you use money (green-backs) they inform the Feds. If you use a check, even a personal one, the Feds don't have to be informed.



I believe Feds have to be informed if you use certified check/MO too.
Link Posted: 3/1/2006 3:05:08 PM EDT

Originally Posted By Hellraiser:

Originally Posted By yobo:
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).



That would be correct.




Are you sure about that? I understand this is requirement for bank transactions... does it apply to car dealers, too? How about other businesses?
Link Posted: 3/1/2006 3:08:15 PM EDT
On a seperate note, can you buy a car without having to fill out any paperwork? For instance could you just go in pay cash and leave?
Link Posted: 3/1/2006 3:09:31 PM EDT

Originally Posted By yobo:

Originally Posted By ardave:
If you use money (green-backs) they inform the Feds. If you use a check, even a personal one, the Feds don't have to be informed.



I believe Feds have to be informed if you use certified check/MO too.



IF the cashiers check secures a lien on the title no reporting is required.

Link Posted: 3/1/2006 3:11:05 PM EDT

Originally Posted By ctprelude:
On a seperate note, can you buy a car without having to fill out any paperwork? For instance could you just go in pay cash and leave?



No

Link Posted: 3/1/2006 3:13:36 PM EDT

Originally Posted By Mojo_Jojo:

Originally Posted By Hellraiser:

Originally Posted By yobo:
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).



That would be correct.




Are you sure about that? I understand this is requirement for bank transactions... does it apply to car dealers, too? How about other businesses?



All businesses are required to fill out an 8300 on any cash type transaction over $10k. Andit is illegal to advise the customer how to avoid it.

Link Posted: 3/1/2006 3:13:49 PM EDT
Just don't get pulled over on the way to buy it .

Anything over $5000 can be seized until you prove where
it came from . Even then , depending on the state . You
may still be SOL
Link Posted: 3/1/2006 3:15:41 PM EDT

Originally Posted By Mojo_Jojo:

Originally Posted By Hellraiser:

Originally Posted By yobo:
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).



That would be correct.




Are you sure about that? I understand this is requirement for bank transactions... does it apply to car dealers, too? How about other businesses?



It used to only be a requirement for banks and credit unions until the Patriot Act, now it's pretty much any business, though I doubt it's enforced as religiously as it is in the financial industry.

Link Posted: 3/1/2006 3:18:28 PM EDT
it's the best way to buy a car!

-great haggling point (I can give you $XXXXX cash RIGHT NOW, or I can walk away and you can fianance for someone else)

-sales people trip over eachother trying to service you

-much faster transation
Link Posted: 3/1/2006 3:20:00 PM EDT

Originally Posted By Hellraiser:

Originally Posted By Mojo_Jojo:

Originally Posted By Hellraiser:

Originally Posted By yobo:
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).



That would be correct.




Are you sure about that? I understand this is requirement for bank transactions... does it apply to car dealers, too? How about other businesses?



It used to only be a requirement for banks and credit unions until the Patriot Act, now it's pretty much any business, though I doubt it's enforced as religiously as it is in the financial industry.




It is a hugr fine not to report it.

Link Posted: 3/3/2006 12:45:38 AM EDT
Isn't it illegal to have over 10 K on you in cash ? Or is that only when flying?
Link Posted: 3/3/2006 12:47:43 AM EDT

Originally Posted By HighlandMac:

Originally Posted By ctprelude:
On a seperate note, can you buy a car without having to fill out any paperwork? For instance could you just go in pay cash and leave?



No




Bill of Sale and Title would be all that would be needed, I would think.
Link Posted: 3/3/2006 12:50:34 AM EDT

Originally Posted By Kodiak-AK:
Isn't it illegal to have over 10 K on you in cash ? Or is that only when flying?



You are a drug dealer/money launderer/gun runner/bank robber/etc with that kind of cash until you can verify your innocence in triplicate, white, pink, and yellow carbon copies. Make sure you don't have any spelling errors or put your County on the wrong spot like so many of us have done on a 4473, because if you do its PMITA prison for you.


But all of this is ok, because its "For the children."
Link Posted: 3/3/2006 12:51:56 AM EDT
I pay cash for cars all the time, 200.00 here 500.00 there,no one ever calls the cops.
Link Posted: 3/3/2006 12:53:36 AM EDT

Originally Posted By Kodiak-AK:
Isn't it illegal to have over 10 K on you in cash ? Or is that only when flying?



I know if your entering the US and you have over $10K on you, you must report it on some farking form.

I remember some Female Officer getting busted by Customs after the 1st Gulf War for not having reported the $10K+ she earned giving head and screwing. Had she only filled out the form, she would have walked out of Customs without a hitch and her Command wouldn't have known jackshit.
Link Posted: 3/3/2006 1:06:08 AM EDT
Why not find a low interest loan, and put the cashola in a mutual fund?
I have the money to pay off my car loan, but at 3.9%, why bother..

I was going to pay cash when I bought my first new car, then thougt the better of it...
The rates have gone up though, so I don't know if this is still as feasible as it was a few years ago...
Link Posted: 3/3/2006 1:11:56 AM EDT

Originally Posted By HarrySacz:
I pay cash for cars all the time, 200.00 here 500.00 there,no one ever calls the cops.



That's right. Give them a 5k deposit today, another in a few days and so on it its not requirded to be reported. Doesn't mean they may not fill a form reporting unusual cash transaction.

Link Posted: 3/3/2006 4:15:01 AM EDT
Nope. I only pay cash.
Link Posted: 3/3/2006 4:17:56 AM EDT
[Last Edit: 3/3/2006 4:19:39 AM EDT by PeteCO]

Originally Posted By chrome1:
Just don't get pulled over on the way to buy it .

Anything over $5000 can be seized until you prove where
it came from . Even then , depending on the state . You
may still be SOL



Yep, I remember a documentary on 20/20 back in 1995 where some cops in Texas were dong that to people. One guy had $14,000, he was on his way to Mexico to buy a tractor. They seized the money, and Iit cost him something like $20,000 to get his money back in Federal court.

Yet another casualty of The War On Drugs™
Link Posted: 3/3/2006 4:19:14 AM EDT
[Last Edit: 3/3/2006 4:19:50 AM EDT by PeteCO]

Originally Posted By pv74:
Why not find a low interest loan, and put the cashola in a mutual fund?
I have the money to pay off my car loan, but at 3.9%, why bother..

I was going to pay cash when I bought my first new car, then thougt the better of it...
The rates have gone up though, so I don't know if this is still as feasible as it was a few years ago...



Uh, you think 3.9% is good?
Link Posted: 3/3/2006 4:21:52 AM EDT
Sheesh, it's actaully ILLEGAL to have a certain amount of cash on you? Which moron thought up of that law...
Link Posted: 3/3/2006 4:23:28 AM EDT
You'll most likely as some have stated, get a discount. They really like to hear "CASH" - Just got a loaded RAV4 for about $200 over the "trade in" value. Only thing I didnt do was bring in the briefcase handcuffed to my wrist.
Link Posted: 3/3/2006 4:25:34 AM EDT

Originally Posted By ardave:
If you use money (green-backs) they inform the Feds. If you use a check, even a personal one, the Feds don't have to be informed.



Writing a check will take much longer than financing. In retrospect, I wish I had financed and then just written the check to the finance company. I have made this mistake three times now. I didn't plan very well, probably should have used secured funds instrument or something.
Link Posted: 3/3/2006 4:29:25 AM EDT
Bought my Daughters 2004 Sentra for cash. The dealer had no problem with that. He came down on his price and we drove it away a few hours later.
I suppose if you walked into a Mercedes dealer with 70-80k in cash that might raise a few eyebrows.
Link Posted: 3/3/2006 5:01:27 AM EDT

Originally Posted By unseenSNIPER:
Sheesh, it's actaully ILLEGAL to have a certain amount of cash on you? Which moron thought up of that law...



The same assholes who think cash is the devil, and want to be able to track your every transaction, in real time. It's for the children, peon, so line up to get your implant so we can track you too, like cattle.

Yep, anyone with significant cash on them is automatically assumed to be a criminal, and the you might as well forget seeing the cash again. The arresting agency can keep it...organized theft is all it really is.
Link Posted: 3/3/2006 5:59:06 AM EDT

Originally Posted By HighlandMac:

Originally Posted By Hellraiser:

Originally Posted By Mojo_Jojo:

Originally Posted By Hellraiser:

Originally Posted By yobo:
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).



That would be correct.




Are you sure about that? I understand this is requirement for bank transactions... does it apply to car dealers, too? How about other businesses?



It used to only be a requirement for banks and credit unions until the Patriot Act, now it's pretty much any business, though I doubt it's enforced as religiously as it is in the financial industry.




It is a hugr fine not to report it.


This correct....except w/the newer tax laws I believe its gone up to 11k.I had a pal that found out the hard way...can you spell audit?
Link Posted: 3/3/2006 6:11:11 AM EDT
The discount will depend partially on whether the vehicle is something they can sell fast under other circumstances. If its a vehicle that's been sitting on the lot for 3 months with little interest, they'll be more than happy just to get their investment out of it as quick as possible. But if its a vehicle that they think they can sell to someone 3 days later and will require financing, you might not get that much of the price knocked off.
Link Posted: 3/3/2006 8:12:57 AM EDT
They must not call the cops. How else do these drug dealing 18 year old thugs get an Escalade?

They sure aren't financing it.
Link Posted: 3/3/2006 8:33:47 AM EDT

Originally Posted By eodtech2000:

Originally Posted By Kodiak-AK:
Isn't it illegal to have over 10 K on you in cash ? Or is that only when flying?



I know if your entering the US and you have over $10K on you, you must report it on some farking form.

I remember some Female Officer getting busted by Customs after the 1st Gulf War for not having reported the $10K+ she earned giving head and screwing. Had she only filled out the form, she would have walked out of Customs without a hitch and her Command wouldn't have known jackshit.



Ever hear about the urban legends from Panama? It started with lots of new pickup trucks at Ft. Ord after Just Cause, and there were rumors of soldiers that stashed cash in Panamanian safety deposit boxes and shuttling money back in < $10 K increments.
Link Posted: 3/3/2006 8:36:14 AM EDT
Link Posted: 3/3/2006 8:38:48 AM EDT
I've only bought used cars, cash always, one was in the $10k+ range. You have to either tell the bank in advance that you need the cash, or you should go at the end of the day. When I went right before they closed, I got a big bag of cash, bills all the way down to $5's.
Link Posted: 3/3/2006 8:43:09 AM EDT

Originally Posted By twonami:
If you walked into a dealership and paid for a expensive car with cash outright would they call the cops?



If your independantly wealthy, the thing to do is to go in dressed like a bum just to see who approaches you with a sales come on. Then pay cash for the nice red ZO6 vette on the showroom floor. Just to mind fuck with them.
Link Posted: 3/3/2006 8:43:45 AM EDT

Originally Posted By Hellraiser:

Originally Posted By yobo:
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).



That would be correct.

Also, don't expect any real discounts for paying in cash, they actually prefer financing as they get a kick back from the lender.




I got a discount for paying with cash. I ususally ask for a discount at places that are used to financing, such as appliance sellers, car dealers, audio/visual places, furniture joints, etc, and usually get 5-10% off sticker.

Never hurts to ask, and check is the same as cash.
Link Posted: 3/3/2006 8:45:47 AM EDT

Originally Posted By chrome1:
Just don't get pulled over on the way to buy it .

Anything over $5000 can be seized until you prove where
it came from . Even then , depending on the state . You
may still be SOL



Bullshit. There has to be PC, and unless you are toting large white money bags with a Dollar sign on the side how is anyone to know anyway?
Link Posted: 3/3/2006 8:46:08 AM EDT
What kind of car are we talking? I know of a girl at the high school I went to that went in and apparently IIRC paid cash for a new(at the time) Chevy Cavalier.
Link Posted: 3/3/2006 8:47:25 AM EDT
I just bought a 2005 Dodge Caravan in September. Wrote a check for $21k. No hassles.
Link Posted: 3/3/2006 8:48:10 AM EDT
If you pay $10k or more cash on anything, it gets reported to the IRS.

Finance it, then pay off $9k per month (they reduce your interest payments for paying it off early).
Link Posted: 3/3/2006 8:51:09 AM EDT

Originally Posted By Hellraiser:

Originally Posted By yobo:
No but they would have to report the cash transaction to the Feds.
(I believe any cash transaction over $10K has to be reported).



That would be correct.

Also, don't expect any real discounts for paying in cash, they actually prefer financing as they get a kick back from the lender.




Bingo.
Link Posted: 3/3/2006 8:52:36 AM EDT

Originally Posted By shocktrp:
If you pay $10k or more cash on anything, it gets reported to the IRS.





ATF, FBI and DEA (Not in that Order)
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