Fullyield

RennList Rule Number One - NEVER take financial advice from someone on the internet who you do not know (like everyone here).

siberian

Corollary - Always trust someone's advice who stands to loose as much as you...

siberian

Fullyield

But that’s my point……grasshopper. Since it is all unknown people with varying unknown background facts and scenarios that you can’t verify, only a fool would follow that advice. You just do not have enough information to make an intelligent decision. Although I trust many on here on 992 matters, hard pass on all the free investment and economic advice. No offense meant to anyone. Happy Thanksgiving to your families and you.

simhoppm

Dealer told me they would not accept credit card payment greater than $20,000. won't accept cash payment greater than $20,000. won't accept check greater than $20,000.

I said, how do you expect someone to pay for the car ?

finance, then pay off.

Dealers want to deal with the finance institution, and don't want to directly paid by the buyer in full.

AlexCeres

Your dealer either doesn’t like you or doesn’t trust you or both.

Dealers generally don’t accept credit card payments above a small value because they have to pay fees. It asking them to give you a 2% discount or so (fees vary widely). Why the **** should they ?

They don’t want some ******* to bring in ten million pennies, and generally cash over $10K is a pain in the ***.

They ought to absolutely accept cash by wire transfer or certified check. Some will accept personal checks if they like you. Funds need to settle, so checks may need several days to clear before they let you wander off. They won’t accept checks for a same day transaction. Wire the funds in advance or **** off

PBoxS986

please name this dealer so I can avoid them

c1pher

You shouldn’t buy a 911 unless you can pay with a briefcase full of cash and golden coins. Otherwise, you really just can’t afford one.

detansinn

Wire or certified bank check should do the deed.
When you're more established, a personal check should be fine.

In the United States, you typically can't buy a car with wads of actual physical cash from a dealer. Dealers don't want to be dealing with this stuff -- it's not simply a matter of counting the cash. There are DEA and money laundering triggers in place. For cash amounts greater than $10k, the dealer will have to file a form 8300. I first ran into this buying exotic Italian motorcycles years ago when I was a kid. On top of that, if a dealer was suspicious of your transaction, they might file an 8300 regardless of the amount, even if the transaction itself didn't go through.

TheGeneral

ie…”misery loves company.”

simhoppm

dealers want to get the money in the bank, and release the car to the buyer on the same day.

the car is gone, they got the money in the bank, and they are not responsible for the car any more, the lender is.

They don't want the hassle of reporting to the Feds either.

that's why they prefer if the buyer just use regular financing, and not pay with "cash", which usually doesn't mean thousands of 100 dollar bills any way.

getting wire-transfer is a hassle, getting cashiers check is a hassle too.

simhoppm

thing is, car dealers don't want you to pay with a briefcase full of cash, and they don't want gold coins either.
they are not equiped with detecting counterfeit bills, and they certainly don't have means to assay gold.
cash is not the king.

jhenson29

Are you sure?
What if my SA is Yukon Cornelius?
I bet he’d take gold.

c1pher

I believe you may be the first Vulcan 🖖 I have corresponded with online. My post was a bit of sarcasm.

simhoppm

I know you were being sarcastic, but use to be, it was very possible.

I live in Los Angeles area, and around 25 years ago, there were a lot of Chinese who recently came over to USA buying cars with cash.

I was in Longo Toyota (supposedly the largest Toyota dealer in the World) to buy a Highlander, and their finance department had cash counting machines, just like the ones in the banks.

because they actually brought $50,000 in 100 dollar bills to buy cars, back then. not possible these days.

from Jan 2023, I heard any cash transaction larger than $600 need to be reported? that's even crazier.