I am looking at a base Impala. The dealer has us working thru the fleet manager (thru a credit union), and he said that the '04 I test drove would be $100 over invoice. Is that good for an '04? I would imagine there would be the 3% holdback and probably a 5% carryover allowance on '04s. I don't know if it would be $100 over invoice for all his cars. Especially because I want antilock brakes on the base--hard to get--and he would have to bring the car from another dealer. If he can't do that pricing, I might do a fax attack to uncover where my car might be. Not sure.
....... If your going to be successful, your going to be putting in some serious hours - 9 to 5, nope never going to happen .. 4 days a week, not in this lifetime .... the folks that are happy with $25/$40,000 won't survive, the time will break it down to about $8 dollars an hour..
Like anything else in this world, long hours, hard work and staying on top of things can be very rewarding - but like Dr's and Firemen, it can kill the social life ........
Thanks for the replies. One last question ...any harder to make a living today than it was 10-15 years ago? (the boom & sharing of info on the internet, as well as price guides hurting dealer/salesmen profit margin?)Though car sales have boomed as well??
I am looking at a base Impala. The dealer has us working thru the fleet manager (thru a credit union), and he said that the '04 I test drove would be $100 over invoice. Is that good for an '04? I would imagine there would be the 3% holdback and probably a 5% carryover allowance on '04s. I don't know if it would be $100 over invoice for all his cars. Especially because I want antilock brakes on the base--hard to get--and he would have to bring the car from another dealer. If he can't do that pricing, I might do a fax attack to uncover where my car might be. Not sure.
Actually, jlawrence01, I did rent a Camry V4 already. I thought that was the car for me, but it proved otherwise during the rental. It was one of the first cars I considered. Found it to be uncomfortable for me. After making adjustments to my seating (I got a special back pillow), I did another test drive and on a V6, hoping it would be better. It just won't work--me & Camry. The $150 car rental for the weekend for a great investment, I agree. But I have to take short test drives to narrow down the car I'd like to rent next time. It can get expensive after a few cars! I found I like bench seating better, and the more specific the kind of car I want, the harder it is to get from the car rental place. Many of them categorize their fleet by size of car and not much more info--so that the cars are interchangeable in a rental... I got lucky and went to a car buying seminar after I wrote my last post and found a dealer that's associated with our credit union. They gave me a nice test drive yesterday, w/o a guy breathing down my neck. So maybe I'll check if other car makes are associated with the credit union. THANKS for your suggestions, everyone!
Shop around a little on a rental car. Egads, I can get an econocar at ERAC for $30 a weekend and a midsized vehicle for about $25 a day any weekend at the airport.
I rented a Camry from ERAC for a weekend. I found it to be a good drive but very uncomfortable on a long drive.
Also, check your yellow pages. Some of the larger dealers also have a car rental business on the side and **might** have something that you are looking for.
Local Chevy dealers here in Syracuse NY are adv. new o4 Impalas at $15,5xx ,rebates incl.plus tax and tag. v-6 auto, cd, power goodies.............
My aunt is ready to pull the trigger on one minus our GM family discount, plus GM card points,GM card bonus cert., and GM loyalty cert. So this will put her in a new one for around 11k.
BTW: One mega dealer is offering ex rental Impala 04s for $9995. 10-15 k miles on them.
Have you checked on them? Great deal for a current year 04.
Big dealer groups, increased incentives, more auto choices.
Profit margins are down and it is hard to keep good salespeople due to decresed earning power. If your in the top 5% of salespeople you'll do fine, if not, its not much better than Wal Mart.
What I don't understand is how the Chevy dealers can offer an '04 Impala for $15.5 and an '04 Malibu for $14.9 and still sell a Malibu.
My wife is averaging about 30 mpg on the Impala which is a lot better than the 25 mpg I was getting last week on the rental Cavalier.
That price on the used Impala is pretty good. The lease companies that I deal with are offering '03 Impalas for $7000-8000 with 45-55k miles (and that's not a bad deal in my opinion.
I have one friend that just bought a NEW '04 Ford Taurus SE for $11.8 which is the best deal that I have seen this year for basic transportation.
How do I pay cash for a car? I haven't purchased a car in many years, and the last time I financed it through the dealership. This time I want to pay cash. Do I pay part by credit card and part by personal check? All by personal check? Get a cashiers check for what I think will be 3/4 of the price and then pay the rest by personal check? I don't know what the cost of the car will be before I go to the lot. I don't want to make out a cashier's check that's too big, and get in the position of a dealership "promising" to give me back the rest, but not doing so. What paperwork will I expect to fill out if I don't finance the car? I did a search on this topic for this board and didn't find that information.
....... Depending on where you live and where your buying the vehicle, a personal check should be fine ... if your a resident from another State or area, then a Cashiers is a good idea and pay a small portion with a personal check ..... you sign a buyers order, the vehicles Vin#, the model, make, miles and the Options should be all filled out and you sign for the tag work, title and registration ... check the miles, so you don't go home in a 4,000 mile vehicle, when you thought it was a 40 mile vehicle ...... .... get copies of EVERYTHING ....
I went to buy a car recently. One of them 30K subies. Wanted to pay cash. It was wierd in that they did not want me to pay by check. They said that the only way they would accept my check would be if there was a backup financing application. I did not want it on my credit, and said no. I was willing to wait for the check to clear to take delivery, but they were not keen on that. I told them they could pull my credit to validate that I *could* finance the car, but they would only accept a credit application. I even offered a casheres check, or to wire the money. I suspect they wanted the back end profit, as it was a 'mini' ($150 over invoice). Well, It left a bad taste in my mouth and the deal fell through. I am still driving my Camry.
Well, from your posting, it sounds like I should get credit union financing as a backup to paying cash. I could always pay off the loan right away, I checked and the credit union (as well as GMAC) doesn't have a prepayment penalty.
The car I want is very specific. I am a person with long legs, don't do well with bucket seats due to a back problem. I don't want to find my car and have the deal fall through. I have been looking at cars for 6 months! LOVED the Camry, but the seating caused my back to spasm after the test drive! I just have to get a new car, my '86 Chevy isn't able to last much longer!
I think I'd like the base Impala, with the 60/40 bench seat. ABS is very hard to get on the base model. I would like to get it soon, because I just noticed the new '05s have that ugly Onstar antenna on the roof that looks like a beard's whisker. The big problem is the antenna application that blocks part of the windshield view!
Tomorrow I hope to test drive a Taurus or Sable. That's another choice, but I'd like to buy toward the end of this month.
If you are truly interested in an Impala or a Taurus, I would certainly consider a 2 year old one with 30k miles over buying new ***unless** you plan on keeping the car forever. The depreciation on either vehicle is pretty high.
One of my friends landed a new '04 Taurus for under $12k. Personally, it was one of the more unbelievable deals that I have seen in a while.
If legroom is an issue, I would take the Impala over the Taurus as the center console on the Taurus rubs against my right leg giving me that "cockpit" feel that I dislike.
Most cars have high first years depreciation. You're giving up the ability to get exactly the options you want in the colors you want and giving up the first many miles with new car smell and feel.
You save a lot of money if youluck into finding a vehicle that suits your needs by buying 2 years old. I believe that's true whether you trade frequently or you buy and keep as do I.
The last four cars we bought, a Dodge, Toyota, Mazda and Subaru, four different dealerships, were all paid for by personal check. No hassle, no problems, no credit app. All the dealerships were within five miles of our house.
The bench seat in the base Impala. My auntie is a big girl. The full front seat was a issue for her. Her 90 Buick she was retiring had one. Buckets won't get it for her...........
Otherwise if she could fit.... she would of got a new Cavilier for about $8000 with all the employee discounts, etc we get............
A check is not cash. Call your bank and let them know that you'll be needing $30k in cash. It may take them a day or two to get it. You could get (for example) 300 100-dollar bills, or 1500 twenty's - whatever. Now that cash is legal tender, meaning that it is good for ALL debts both public and private.
Then walk in to the dealer with (literaly) cash in hand. They won't turn you down I guaranty it.
It also might be kind of fun and you'll feel rich for that short time that you actually have the cash.
On the other hand, having all that cash in hand might make you realize what an enormous amount of money you are about to spend. Think about how long it took you to save and earn that money.
I disagree.. they will most certainly turn you down with that much cash.. That would scream "laundered money".
It isn't hard to buy a car with a check.. Besides, unless you plan on driving the car out without it being prepped, just make the deal, then go back to your bank and get a cashier's check.
I think you need to re-evaluate what you are saying. Are you saying that cash is no good ?
I saw a study done recently of a man who bought around 10 cars at different dealerships all for cash and without the so called reporting requirements. Does it surprise anyone that car dealerships would bend the rules to make a profitable sale.
Cash is King !
What I would do is put the $30k in my front shirt pocket so that everyone could see it.
Then I'd see which salesman would offer me a test drive !
Maybe things are different in California.. The only place around here where that much cash wouldn't cause a problem is at the casino...
The dealer can require whatever payment they choose.. and you can choose to accept their terms or go elsewhere.... Of course, it was here locally where they took the guy's personal check for a 911 Turbo, without checking on available funds.... so, there you go..
Anyway...maybe a car dealer will weigh in with some real world examples...
I agree totally. Plus the dealerships have to file paperwork with the IRS when someone pays with more than $10k - actual cash. So, in the end, it's more work for them if you pay with actual cash.
The whole thing about getting an app instead of taking a check is BS. They know that many people can pay cash but when they come to you with "But you could finance it for XX months with this small monthly payment and invest that cash and earn xx%) (It's amazing how F&I guys suddenly become Financial Advisors to get you into a finance deal.)
Definitely do it this way - Hammer out the deal and go get a certified check while the car is being prepped. If they balk, just stand your ground. You are the customer and you may pay with any legal funds you want.
They could accept the cash certainly. HOWEVER, using that much cash would require the dealer to file certain Department of Treasury forms. In other words, they would need to report it.
Bringing that much cash would bring up a lot of cash laudering questions and would also subject yourself to some risk.
No dealership will appreciate the hassles of dealing with all of that cash. Sure, they will take it.
I believe Richie Rich had a gold checkbook encrusted with diamonds... I remember the scooter salesman shooing him away, then looking agape as he pulled out the checkbook, saying he would shop elsewhere...
Also, being practical, who wants to walk around with that much CASH? I'd have a heart attack thinking I was about to be robbed, even if there were almost NO possibility of that happening.
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(i) Walking around with a ton of cash is pretty safe... nobody carries cash anymore, so being held up is highly unlikely in most places. Certainly around here. (ii) A lot of cash brings on NO question of illegality. It is perfectly legal, it is just unusual. I also brings with it filing requirements, and some dealers may have to figure out how to do it, since it's rare. (iii) Don't do it. Last time I bought a car, I brought a (local) cashier's check + a few thousand dollars in cash, and they miscounted by a cool $1000. We got it sorted out, but I won't do it again, trust me :-) (iv) Cash is a pain, because it has to be counted, and there is no real paper trail afterwards. A check can be fully verified 3 months later, cash once across the desk is gone and becomes whatever number was written down.
When I picked up my 96 Dodge Ram, I was doing a cash down payment (no trade), the rest financed. When I placed the order, I gave a deposit of 10 $100 bills. On delivery day, I had in my pocket 75 $100 bills. The F&I was a great gal - I counted it, she counted it, and for verification, the sales guy counted it, and we all initialed the receipt. Then she looked at me and giggled "you don't have to buy the truck... we could go shopping!" But alas, it had been a three month wait, so I took the truck anyway...
When I sold the RV over the summer, the family buying it had their own business, apparently with some green, and offered partial payment in cash and the rest in a cashiers check. Since recently there had been a few stories about counterfeit bank checks floating around, I said I would take it all in real money. That was quite the experience, counting out $20k+ at their kitchen table. The paranoia was incredible driving the 2 hours home (I drove the coach to them on my plates), as well as holding the money overnight at home until getting to the bank when it opened the next day. My little black bag which it was in never left my side. Since it was a deposit in excess of $10k, my bank took all my information, but the deal was legit my my end, so no worries on my part.
My Exploder sale this week was also a cash transaction; compared to the above, $8500 was lunch money, though I still slept with the briefcase right by the side of the bed.
Ok, why? Why would paying that much in cash be better than paying by personal check or cashiers check? It's certainly more prudent to pay with a traceable item. I've written personal checks for as much $30k for the downpayment before without as much as a shrug from the F&I guy.
Paying hard cash just doesn't have any positive, for the individual or the dealer, over paying with a more traceable form.
(ii) A lot of cash brings on NO question of illegality.
Frankly (and not just for argument's sake), I'd say that depends. I live in a small town with a large elderly population. It is my understanding that the one new car dealer in town, cash is often paid for a new car--but it's typically a LeSabre purchased by a 80 year old who's purchased 8 cars there before. I highly doubt that a 27 year old plunking down 500 hundros at Lexus North Shore will be viewed with no suspicion. I certainly would be suspcious. Fair? Probably not. But, as my mother always said, life isn't fair. My point? If I could afford it, I would not make a payment like that in "cash". No sense giving anymore information to the government than is absolutely necessary, IMO.
My bank shy buddy up in Alaska carries his cash around in an old Army ammo box (9mm?). The most I've seen him stuff in it is $40,000 US. Akangl likely knows a few like him. I paid cash for my last new car and just wrote a check. The dealer didn't blink an eye. (It's not too hard to save ~$20k when you only buy a new car every decade or so).
...OK, time for a legal question. I rob a bank, take $9,000 in cash and buy a used car with it. Later, I get caught.
What's the legal implication to the guy who sold me the car? Does it matter if it's a dealer or private individual? And is it different if I pay with a $9,000 check? Is it different if I pay with a credit union check tied to a loan?
I reckon the first question is interesting to anybody who ever sells a car... -Mathias
I have 3 months remaining on my Nissan Pathfinder lease. I am considering a Ford Explorer for my next vehicle. I want the V8 engine, but after searching dealer inventories in the area it appears that these models aren't nearly as popular as the V6. I am thinking about ordering one to make sure it's here when my lease is up. I have a few questions about this process...
1. Is the Edmunds TMV still a target selling price when ordering?
2. Would there still be advertising/dealer fees since the vehicle never really sits on the lot?
3. Would I need to put any money down at ordering time?
4. Which rebates apply - those at the time or order or when I take delivery?
1) TMV Price - probably. Maybe you can even beat the TMV price a little. If there is some dealer cash involved currently then the price might even go up if that incentive is expiring.
2) Yes
3) Yes, Just to make sure that you are serious and especially if you are ordering some goofy (unresellable) options.
4) Rebates and incentives are those in effect at Delivery Time
Another option to consider is to have the dealer do a local search for the exact vehicle you want when you are really ready to buy.
Gosh, when I started this thread, I meant to saying paying by my own funds instead of financing thru the dealer or credit union. I'd have a heart attack, just thinking about a possible mugging!
I like the idea of getting the cashier's check while the car is being prepped. But I want to know if there are other options--I am thinking of doing a fax attack, and won't really see the car until after the bidding is done. Then I drive to the winning dealer, check it out, wait while they prep it, and drive it home.
So would the dealer take possible credit card/personal check options for part of it? So I don't have to run to the bank for the whole amount at the last minute, I could maybe get a $20K cashier's check ahead of time, and pay the balance on a $25K car plus fees by check or credit card? I would be faxing at the last few days of the month, wanting to take ownership before the end of the month. So things will need to move quickly.
1) Ultimately, probably nothing. It's possible the proceeds may be taken, however--leaving the dealer or seller, as it may be, without a car and without the money.
2) Probably not. It's an amount under the reporting requirements, there's no way to know the money was stolen, etc. I would say, in general, the authorities are more likely to push themselves around with a screamer store than with Joe Schmoe, simply because the screamer is a big bad dealer and "should know better". (Legally, that really means nothing, but in the real world, it means everything).
3) I don't think so. Because of the amount, the cash-related reporting, etc doesn't apply. Like I said, a DA might get bully about it with a dealer, "what are you doing, taking $9000 in cash?" I would point out that conducting transactions in a way to avoid the cash reporting requirements is also a federal crime--i.e., I can't go to the casino 8 times with $9999 and cash out. It might not be noticed for a while, but trust me, someone will figure it out.
4. No. Even if the amount were over $10000, the only thing (in your scenario) that paying cash adds to the equation is the reporting requirement, thus probably making it easier for you to be caught. That said, ultimately, the end result is the same. Money taken from the seller, the car *MAYBE* returned (and if so, not for a while because it's evidence). In this scenario, it's not the cash vs cash equivalent issue, it's the money is stolen issue.
I agree with your aunt, bucket seats are just awful! I am not big, but the lack of padding and thigh support aggravate my back.
Question for you, since you seem to know about the GM discount program. I built my possible car on the "GM in the Driveway program" website, and it shows how much I could save. Some real bucks, it looks like, for the supplier price.
But I am an identity theft victim, and really limit giving out my DOB and my SS#. What ID does the dealer ask for? If I just have to show my license, and not my SS card, then OK. I could just make up something that my relative and I agree on for the SS# and give the dealer that number.
It's unbelievable how little info someone needs to take on an identity, and how easy it is to get mother's maiden name. Some banks ask for just the same last 4 digits of SS# to get access to your account. I heard of identity theft that happened at dealerships on the radio the other day; the data at a dealership isn't real secure, and there's a lot of personnel turnover.
This is a sensitive question, and I have mixed feelings about it. I'd like to save the money, but I want to protect my personal info. I thought maybe a dealer on this list could help me. Comments?
According to some information I found in a report, paying cash really does not make much difference in your purchase price. What really matters is knowing for how much someone else will sell the vehicle.
I got the report and other great information at www.insidersspeak.com. They teach you how to buy at invoice without hassle. I'm very pleased with the report.
Also, I forgot to say that I don't care how secure they say the GM site is, I don't like having my DOB and the last 4 digits of my SS# input online. I don't even shop online. Is there any way I can use the program and not give out this personal info?
I am planning on purchasing a new car and the car I want is at a dealership that wants to charge $250 for Document prep fees. I heard that $50 is reasonable. What argument can I make to negotiate down on the fee. Are there any laws or common practices that say how much is appropriate for those fees. If you could help I would be most appreciative. Thanks
Yea, that GM in the driveway program price is the same as the GM supplier price. But you DO NOT have to pay DOC fee or advertising fees on those deals. That saves ya some big money too...Esp. if you live in a area that wacks ya that $300 DOC fee. NY has a $50 cap on DOC fees. Adv. fees run from about $400 and up depending on vehicle.
Remember a GM employee/retiree has to sponsor you to get that deal. Now its a simple phone call and you are given a # to give to the dealer. No paper anymore.
The GM site is a secure site and ya need the SS# to check the deal prices. We have never had a problem .....
FYI..That program expires at the end of Dec. or Jan. 1. Good luck !
Thanks for the info. How do you tell the ad fees? Is it itemized on the factory invoice. I know what the holdback is for the mazda I want but I have never bought a car so I don't know what a factory invoice looks like.
Are listed on the GM invoice along with list, GM employee/family and supplier price(s).
I think holdback is listed on it too. But just about all dealers won't dicker over it........
I have seen the GM dealer invoice with the other stuff blacked out and just the GM employee/family price showing....... On my aunts recent Impala purchase they whipped it out with nothing blacked out.
Great deal, super rebates, great salesman.......I got a $50 Birddog fee.........Everybody Happy!
Not sure about other brands.....
A salesperson should pop in and poss. know Mazda pricing.
Comments
I am looking at a base Impala. The dealer has us working thru the fleet manager (thru a credit union), and he said that the '04 I test drove would be $100 over invoice. Is that good for an '04? I would imagine there would be the 3% holdback and probably a 5% carryover allowance on '04s. I don't know if it would be $100 over invoice for all his cars. Especially because I want antilock brakes on the base--hard to get--and he would have to bring the car from another dealer.
If he can't do that pricing, I might do a fax attack to uncover where my car might be. Not sure.
Like anything else in this world, long hours, hard work and staying on top of things can be very rewarding - but like Dr's and Firemen, it can kill the social life ........
Terry.
I am looking at a base Impala. The dealer has us working thru the fleet manager (thru a credit union), and he said that the '04 I test drove would be $100 over invoice. Is that good for an '04? I would imagine there would be the 3% holdback and probably a 5% carryover allowance on '04s. I don't know if it would be $100 over invoice for all his cars. Especially because I want antilock brakes on the base--hard to get--and he would have to bring the car from another dealer.
If he can't do that pricing, I might do a fax attack to uncover where my car might be. Not sure.
I did rent a Camry V4 already. I thought that was the car for me, but it proved otherwise during the rental. It was one of the first cars I considered. Found it to be uncomfortable for me. After making adjustments to my seating (I got a special back pillow), I did another test drive and on a V6, hoping it would be better. It just won't work--me & Camry.
The $150 car rental for the weekend for a great investment, I agree. But I have to take short test drives to narrow down the car I'd like to rent next time. It can get expensive after a few cars!
I found I like bench seating better, and the more specific the kind of car I want, the harder it is to get from the car rental place. Many of them categorize their fleet by size of car and not much more info--so that the cars are interchangeable in a rental...
I got lucky and went to a car buying seminar after I wrote my last post and found a dealer that's associated with our credit union. They gave me a nice test drive yesterday, w/o a guy breathing down my neck. So maybe I'll check if other car makes are associated with the credit union.
THANKS for your suggestions, everyone!
That's an "inline" Four.
-Mathias
I rented a Camry from ERAC for a weekend. I found it to be a good drive but very uncomfortable on a long drive.
Also, check your yellow pages. Some of the larger dealers also have a car rental business on the side and **might** have something that you are looking for.
v-6 auto, cd, power goodies.............
My aunt is ready to pull the trigger on one minus our GM family discount, plus GM card points,GM card bonus cert., and GM loyalty cert.
So this will put her in a new one for around 11k.
BTW: One mega dealer is offering ex rental Impala 04s for $9995. 10-15 k miles on them.
Have you checked on them? Great deal for a current year 04.
Absolutely.
Big dealer groups, increased incentives, more auto choices.
Profit margins are down and it is hard to keep good salespeople due to decresed earning power.
If your in the top 5% of salespeople you'll do fine, if not, its not much better than Wal Mart.
What I don't understand is how the Chevy dealers can offer an '04 Impala for $15.5 and an '04 Malibu for $14.9 and still sell a Malibu.
My wife is averaging about 30 mpg on the Impala which is a lot better than the 25 mpg I was getting last week on the rental Cavalier.
That price on the used Impala is pretty good. The lease companies that I deal with are offering '03 Impalas for $7000-8000 with 45-55k miles (and that's not a bad deal in my opinion.
I have one friend that just bought a NEW '04 Ford Taurus SE for $11.8 which is the best deal that I have seen this year for basic transportation.
How do I pay cash for a car? I haven't purchased a car in many years, and the last time I financed it through the dealership. This time I want to pay cash.
Do I pay part by credit card and part by personal check? All by personal check? Get a cashiers check for what I think will be 3/4 of the price and then pay the rest by personal check? I don't know what the cost of the car will be before I go to the lot. I don't want to make out a cashier's check that's too big, and get in the position of a dealership "promising" to give me back the rest, but not doing so.
What paperwork will I expect to fill out if I don't finance the car?
I did a search on this topic for this board and didn't find that information.
THANKS!
Enjoy .. by the way, what type of vehicle is it.?
Terry.
The car I want is very specific. I am a person with long legs, don't do well with bucket seats due to a back problem. I don't want to find my car and have the deal fall through. I have been looking at cars for 6 months! LOVED the Camry, but the seating caused my back to spasm after the test drive!
I think I'd like the base Impala, with the 60/40 bench seat. ABS is very hard to get on the base model. I would like to get it soon, because I just noticed the new '05s have that ugly Onstar antenna on the roof that looks like a beard's whisker. The big problem is the antenna application that blocks part of the windshield view!
Tomorrow I hope to test drive a Taurus or Sable. That's another choice, but I'd like to buy toward the end of this month.
Thanks!
One of my friends landed a new '04 Taurus for under $12k. Personally, it was one of the more unbelievable deals that I have seen in a while.
If legroom is an issue, I would take the Impala over the Taurus as the center console on the Taurus rubs against my right leg giving me that "cockpit" feel that I dislike.
You save a lot of money if youluck into finding a vehicle that suits your needs by buying 2 years old. I believe that's true whether you trade frequently or you buy and keep as do I.
2014 Malibu 2LT, 2015 Cruze 2LT,
The key is that they know where you live and they know how long you have lived in the house.
Do the same thing in a dealership 1000 miles away and it **can** be a lot more difficult.
Buckets won't get it for her...........
Otherwise if she could fit.... she would of got a new Cavilier for about $8000 with all the employee discounts, etc we get............
Then walk in to the dealer with (literaly) cash in hand. They won't turn you down I guaranty it.
It also might be kind of fun and you'll feel rich for that short time that you actually have the cash.
On the other hand, having all that cash in hand might make you realize what an enormous amount of money you are about to spend. Think about how long it took you to save and earn that money.
Maybe there's a better choice for you here ??
It isn't hard to buy a car with a check.. Besides, unless you plan on driving the car out without it being prepped, just make the deal, then go back to your bank and get a cashier's check.
I think we are making this too hard.
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I think you need to re-evaluate what you are saying. Are you saying that cash is no good ?
I saw a study done recently of a man who bought around 10 cars at different dealerships all for cash and without the so called reporting requirements. Does it surprise anyone that car dealerships would bend the rules to make a profitable sale.
Cash is King !
What I would do is put the $30k in my front shirt pocket so that everyone could see it.
Then I'd see which salesman would offer me a test drive !
The dealer can require whatever payment they choose.. and you can choose to accept their terms or go elsewhere.... Of course, it was here locally where they took the guy's personal check for a 911 Turbo, without checking on available funds.... so, there you go..
Anyway...maybe a car dealer will weigh in with some real world examples...
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The whole thing about getting an app instead of taking a check is BS. They know that many people can pay cash but when they come to you with "But you could finance it for XX months with this small monthly payment and invest that cash and earn xx%) (It's amazing how F&I guys suddenly become Financial Advisors to get you into a finance deal.)
Definitely do it this way - Hammer out the deal and go get a certified check while the car is being prepped. If they balk, just stand your ground. You are the customer and you may pay with any legal funds you want.
Bringing that much cash would bring up a lot of cash laudering questions and would also subject yourself to some risk.
No dealership will appreciate the hassles of dealing with all of that cash. Sure, they will take it.
I was kind of being a wise guy here while pointing out that a check is NOT cash.
Someday when I'm really bored I'll stuff my pockets with cash, like Richy Rich, and go see if I can get some attention at the BMW dealer after all.
Thanks for the memories..
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2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
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(ii) A lot of cash brings on NO question of illegality. It is perfectly legal, it is just unusual. I also brings with it filing requirements, and some dealers may have to figure out how to do it, since it's rare.
(iii) Don't do it. Last time I bought a car, I brought a (local) cashier's check + a few thousand dollars in cash, and they miscounted by a cool $1000. We got it sorted out, but I won't do it again, trust me :-)
(iv) Cash is a pain, because it has to be counted, and there is no real paper trail afterwards. A check can be fully verified 3 months later, cash once across the desk is gone and becomes whatever number was written down.
-Mathias
My Exploder sale this week was also a cash transaction; compared to the above, $8500 was lunch money, though I still slept with the briefcase right by the side of the bed.
Paying hard cash just doesn't have any positive, for the individual or the dealer, over paying with a more traceable form.
My 05 Ram will be handled with a bank check for the down payment.
Frankly (and not just for argument's sake), I'd say that depends. I live in a small town with a large elderly population. It is my understanding that the one new car dealer in town, cash is often paid for a new car--but it's typically a LeSabre purchased by a 80 year old who's purchased 8 cars there before. I highly doubt that a 27 year old plunking down 500 hundros at Lexus North Shore will be viewed with no suspicion. I certainly would be suspcious. Fair? Probably not. But, as my mother always said, life isn't fair. My point? If I could afford it, I would not make a payment like that in "cash". No sense giving anymore information to the government than is absolutely necessary, IMO.
Steve, Host
I rob a bank, take $9,000 in cash and buy a used car with it. Later, I get caught.
What's the legal implication to the guy who sold me the car?
Does it matter if it's a dealer or private individual?
And is it different if I pay with a $9,000 check?
Is it different if I pay with a credit union check tied to a loan?
I reckon the first question is interesting to anybody who ever sells a car...
-Mathias
I have 3 months remaining on my Nissan Pathfinder lease. I am considering a Ford Explorer for my next vehicle. I want the V8 engine, but after searching dealer inventories in the area it appears that these models aren't nearly as popular as the V6. I am thinking about ordering one to make sure it's here when my lease is up. I have a few questions about this process...
1. Is the Edmunds TMV still a target selling price when ordering?
2. Would there still be advertising/dealer fees since the vehicle never really sits on the lot?
3. Would I need to put any money down at ordering time?
4. Which rebates apply - those at the time or order or when I take delivery?
Thanks in advance!
2) Yes
3) Yes, Just to make sure that you are serious and especially if you are ordering some goofy (unresellable) options.
4) Rebates and incentives are those in effect at Delivery Time
Another option to consider is to have the dealer do a local search for the exact vehicle you want when you are really ready to buy.
I like the idea of getting the cashier's check while the car is being prepped. But I want to know if there are other options--I am thinking of doing a fax attack, and won't really see the car until after the bidding is done. Then I drive to the winning dealer, check it out, wait while they prep it, and drive it home.
So would the dealer take possible credit card/personal check options for part of it? So I don't have to run to the bank for the whole amount at the last minute, I could maybe get a $20K cashier's check ahead of time, and pay the balance on a $25K car plus fees by check or credit card? I would be faxing at the last few days of the month, wanting to take ownership before the end of the month. So things will need to move quickly.
2) Probably not. It's an amount under the reporting requirements, there's no way to know the money was stolen, etc. I would say, in general, the authorities are more likely to push themselves around with a screamer store than with Joe Schmoe, simply because the screamer is a big bad dealer and "should know better". (Legally, that really means nothing, but in the real world, it means everything).
3) I don't think so. Because of the amount, the cash-related reporting, etc doesn't apply. Like I said, a DA might get bully about it with a dealer, "what are you doing, taking $9000 in cash?" I would point out that conducting transactions in a way to avoid the cash reporting requirements is also a federal crime--i.e., I can't go to the casino 8 times with $9999 and cash out. It might not be noticed for a while, but trust me, someone will figure it out.
4. No. Even if the amount were over $10000, the only thing (in your scenario) that paying cash adds to the equation is the reporting requirement, thus probably making it easier for you to be caught. That said, ultimately, the end result is the same. Money taken from the seller, the car *MAYBE* returned (and if so, not for a while because it's evidence). In this scenario, it's not the cash vs cash equivalent issue, it's the money is stolen issue.
I agree with your aunt, bucket seats are just awful! I am not big, but the lack of padding and thigh support aggravate my back.
Question for you, since you seem to know about the GM discount program. I built my possible car on the "GM in the Driveway program" website, and it shows how much I could save. Some real bucks, it looks like, for the supplier price.
But I am an identity theft victim, and really limit giving out my DOB and my SS#. What ID does the dealer ask for? If I just have to show my license, and not my SS card, then OK. I could just make up something that my relative and I agree on for the SS# and give the dealer that number.
It's unbelievable how little info someone needs to take on an identity, and how easy it is to get mother's maiden name. Some banks ask for just the same last 4 digits of SS# to get access to your account. I heard of identity theft that happened at dealerships on the radio the other day; the data at a dealership isn't real secure, and there's a lot of personnel turnover.
This is a sensitive question, and I have mixed feelings about it. I'd like to save the money, but I want to protect my personal info. I thought maybe a dealer on this list could help me. Comments?
Thanks!
I got the report and other great information at www.insidersspeak.com. They teach you how to buy at invoice without hassle. I'm very pleased with the report.
Thanks
Remember a GM employee/retiree has to sponsor you to get that deal. Now its a simple phone call and you are given a # to give to the dealer. No paper anymore.
The GM site is a secure site and ya need the SS# to check the deal prices.
We have never had a problem .....
FYI..That program expires at the end of Dec. or Jan. 1. Good luck !
I think holdback is listed on it too. But just about all dealers won't dicker over it........
I have seen the GM dealer invoice with the other stuff blacked out and just the GM employee/family price showing.......
On my aunts recent Impala purchase they whipped it out with nothing blacked out.
Great deal, super rebates, great salesman.......I got a $50 Birddog fee.........Everybody Happy!
Not sure about other brands.....
A salesperson should pop in and poss. know Mazda pricing.