payed 14k in neatly bundled hundreds. the salesman lost count and had to recount
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Buying a car with cash
- Thread starter T-type
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Not true.
The max hit your FICO score takes (not your score from the credit bureaus directly, because those scores don't matter) from a massive hard pull session (soft pulls don't count) is around 6points. Totally insignificant. It also resets itself after a few months. So saying "NEVER NEVER NEVER NEVER" is way extreme.
While car dealerships often won't give you as good a rate as your own credit union or an outside bank, many people do it, not a big deal.
Regarding SAR lets keep things in perspective people. In order to file one, something has to be suspicious, and the person has to care enough to want to file a activity report which, technically, could lead to that car they are selling (and the commission they are making) to be revoked. SAR is usually for seriously obvious stuff, like a idiot dealer walking in with 50k in 20's who buys a brand new BMW.
We are in world of economic turmoil right now. Tons of people don't trust banks, tons of people keep cash on them. Not a big deal
krustytheclown
Member
get the money in the bank, then pay by cashiers check
private party is going to get you the best deal, and an individual is not going to file any forms, even if you pay 30k in cash. The bank is going to fill a form on the SELLER when they deposit the money. The seller wont give a shit, they have nothing to hide.
private party is going to get you the best deal, and an individual is not going to file any forms, even if you pay 30k in cash. The bank is going to fill a form on the SELLER when they deposit the money. The seller wont give a shit, they have nothing to hide.
Ha! I did this a few years ago. Really pissed the finance guy off on the lot. If you're worried about buying a car with cash I would just do a private transaction. Hire a mechanic you trust to give the vehicle a once over and then just buy it if there are zero issues. Few private sellers are going to say "gosh no, please don't give me your money".
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krustytheclown
Member
^^^
Geopolitical is spot on!
The seller can even state on the title transfer form the sale price was $1. You may get the third degree from the DMV about the low sale price, but just say it was a private deal and its terms are your own business.
The seller may get a questionnaire in the mail from the DMV confirming the sale price and that no other items of value were exchanged due to the purchase of the vehicle. As long as the seller indicates the same sales price and any other info the buyer told the DMV, no additional sales tax is due.
When it comes to the government and taxes, I say, "Fuck 'em". They have too much and waste it and nobody cares. So, why should we care if we avoid taxes?
I bought one almost like this ...
I bought one almost like this ...
For $10,000 didn't even think about the $$.
I actually paid the guy in 2 Cashiers checks
I bought one almost like this ...
definitely pay cash, private seller, pimp
For $10,000 didn't even think about the $$.
I actually paid the guy in 2 Cashiers checks
go to a dealer & ask them what they paid the Mfr for the car ...then offer them $500 over their price & 1/4-1/3rd cash down approx .
Stand firm & they'll generally go for it everytime....almost anyone can get this kind of deal . They want that car off the lot & u can also go a little higher on your purchase & get the car u really want . You could buy a $20K vehicle & offer them $7k cash & they'll take the money & run , wud bet !
Then pay the rest off on mo/payments by setting up an autopay acct with their finance arm & create good credit at the same time ! You can always pay off the vehicle anytime down the road but take the opp to establish good credit , always comes in handy... just don't ever miss a payment . And ur "in the groove" with the credit bureaus.
!
!PS: had a friend who REALLY wanted a new F350 diesel "duelly" @ $47K...he'd never bought anything before so we marched him into the Ford lot sat down offered them $20k down & $500 over their cost .
They went for it no problem & he got the brand new Duelly for
$43K ...amazing what cash can do .
i just go to dealership and pay . i want a warantee unlike doing private sales. altho last time i bought a ride the guy asked more questions than my last girlfriend. eventually i told him to just process the paperwork and count the fucking cash
M
milehighmedical
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krustytheclown
Member
Same thing happened to me when I went to buy a car. They kept saying it was for terrorism screening.
Anyone in the car business that car confirm or disprove that?
I think it's bullshit.
It's bullshit. They get commission if you finance thru them. When I sold cars back in the day we were told to tell the customer that we do a soft pull meaning it won't show up on their credit as a inquiry (which was a complete lie, we did hard pulls)
David762
Member
Sorry. That $10k was before the USA Patriot Act.
Sorry. That $10k was before the USA Patriot Act.
My bank (former bank) manager assured me that even a $5,000 cash transaction now gets Federal eyes on it, even extended to the period of a single week. In this now police state, the PtB track everything.
(Look what happened to former NY Gov. Elliot Spitzer, and that was over a $5,000 credit card transaction to a "working girl". No prosecution, nor even any charges leveled against him, but the info was "erroneously" leaked to the press -- trial by press. And didn't that "working girl", on the verge of a $$ book deal, "accidently" hang herself in a garden shed a few months later?)
Sorry. That $10k was before the USA Patriot Act.
My bank (former bank) manager assured me that even a $5,000 cash transaction now gets Federal eyes on it, even extended to the period of a single week. In this now police state, the PtB track everything.
(Look what happened to former NY Gov. Elliot Spitzer, and that was over a $5,000 credit card transaction to a "working girl". No prosecution, nor even any charges leveled against him, but the info was "erroneously" leaked to the press -- trial by press. And didn't that "working girl", on the verge of a $$ book deal, "accidently" hang herself in a garden shed a few months later?)
Your bank manager is retarded.
The Spitzer example has no relation to this situation whatsoever. You are talking about a public figure known by millions, of course his life is going to be looked into, and info leaked.
Do some simple fucking math. How many people are there in the US. Of those people how many do you think make $5k+ credit card transactions in any given week.
Now try to calculate how many man hours it would take to look into each transaction to make sure something wasn't fishy.
Not only do they not look into $5k transactions, but they only look into a handful of the $10k transactions. There are just too many, and not enough money to investigate it all.
Xerhoss
Member
You can always put a significant down payment on it at the time of purchase (say $5K) and then pay the rest off in a couple subsequent payments. Doesn't look as suspicious and hardly costs anything in interest. But then again the reality is that anything you do on paper is traceable through your credit history and available for future scrutiny (like large payments that you don't have the verifiable income to justify). For the best protection, like others have stated, buying in cash from a private owner is always your safest bet.
they never even checked my credit at all. i went to dealership and payed 14k in hundreds. the guy did ask lots of questions tho . like how long i lived at my address and some other stuff.
find an autowholesaler, i got a $15k blue book car for 8 with a clean title no wrecks ever. tell the wholesaler youll give him $1000 cash and hell find you any car you want for cheaper than any lot will consider give it to you for. Example, my previous car was a new ford focus with a bluebook of 13k and the sticker at the dealership was 14,500.....my buddy who is an auto wholesaler walked in and bought it cash for me for 7500 with 23k miles on it. Some manufacturers hold a stronger retail value so be prepared to experience some gaps between the final cost of certain models (example, civics hold much higher resale than a focus). Autowholesalers the way to go, keep your final transation under 10k and you can practically get anything you want if you go the wholesale route
