Buying a Car at dealership

[z0mb13]

WHY did u bump this old thread?

 

[datalink7]

Originally posted by: z0mb13
WHY did u bump this old thread?

See my post ^

 

[oogabooga]

Why did you bump this thread?







🙂

 

[Mr. Lennon]

I think its perfectly fine that the dealership wouldn't except his cash. Lets say the cash was found to be stolen after he drives away with the vehicle. The dealership would take the hit for the stolen vehicle. Tell your friend this isn't the 1930's, his money is the safest in the bank.

 

[Raincity]

Originally posted by: fredtam
Anything over 10G has to be reported to the IRS. Better to have a copy of a check than a receipt for cash.

Bingo
ALL businesses in the USA are bound by Federal Law to report all cash transaction over 10,001 US $ dollars. Errors in the reprting or failure to comply would leads to some serious fines.

 

[alm4rr]

Originally posted by: AntMan530

Originally posted by: RMSistight<BR>

Originally posted by: Heisenberg<BR>

Originally posted by: GagHalfrunt<BR> BTW, who the hell walks around with 18k in cash to buy a car?

<BR><BR>What a dumbass. He's risking his life carrying that much cash.

<BR><BR>true, but hes only 19. He just barely came to america from cuba. so he doesnt trust banks etc...or the goverment...<BR><BR>thanks for your opinions everyone

Let me take a wild guess - is he payin taxes on any of that 18K?

Me thinks I know why he doesn't trust American banks...........

 

[IHateMyJob2004]

Originally posted by: AntMan530
is it true? do you have to get a check? he went in the dealership with 18K , and they told him to deposit the money and come back with a check. he doesnt know why. seems odd, but i would love cash. what are the possible reasons?

YOU MORON!

Stolen money?
Drug money?

etc

It's just due to liabilities. Why hte hell would someone bring 18K in CASH to a dealership? He is a moron for doing so.

I have ntohing to say. Kick your friends in the nuts for being a moron.

 

[Ausm]

I really don't think they could refuse it.

Ausm

 

[dmw16]

Bullshit, cash is legal tender and the dealership is bound by law to accept his money. They can't refuse to take it and demand a check.

Any private business can decline a sale at any point. THey are under no legal obligation to sell him a car.

I can understand their not wanting to handle larger sums of cash; could be fake (which you and your friend know it's not, but they don't). Tell your friend to get a cashiers check, or just go to a bank. I will never understand people who "don't trust banks." They have thousands of dollars pass thru daily and people arent beating down their door demanding their cash.

 

[Viper GTS]

Originally posted by: Ausm
I really don't think they could refuse it.

Ausm

Yes, they can.

It's really not that complicated. It was settled 3 months ago.

Viper GTS

 

[Fritzo]

Originally posted by: RMSistight

Originally posted by: Heisenberg<BR>

Originally posted by: GagHalfrunt<BR>Because car dealerships are not set up to handle cash. To handle large amounts of cash you need to be able to count it, store it safely and transport it to the bank. Having 18K in cash is a pain in the ass. A check is simple, safe and requires no additonal manpower.

<BR>I agree. BTW, who the hell walks around with 18k in cash to buy a car?

<BR><BR>What a dumbass. He's risking his life carrying that much cash.

Someone that got the money in a non-legal manner. I saw a guy stomp out of a dealship when we were buying our car becaues the dealer wouldn't take cash on a 300c. He was furious...had a woman that looked like a Las Vegas hooker with him too 🙂

 

[Fritzo]

Originally posted by: PowerMac4Ever

Originally posted by: HappyPuppy<BR>Bullshit, cash is legal tender and the dealership is bound by law to accept his money. They can't refuse to take it and demand a check.

<BR>The dealership can reject cash even if it is legal tender. Whoever told you that businesses had to accept all legal tender is incorrect.<BR><BR>http://www.ustreas.gov/educati...y/legal-tender.html#q1<BR>The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 102. This is now found in section 392 of Title 31 of the United States Code. The law says that: "All coins and currencies of the United States, regardless of when coined or issued, shall be legal-tender for all debts, public and private, public charges, taxes, duties and dues."<BR><BR>This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.

OOOwwwwwnnned 😀

 

[TheAudit]

I gave $8k in cash as a downpayment at my dealer and they had no problem accepting it.