Who pays for cars in cash these days when the amount is more than a few grand? Like actual cash? I can see why some dealers refuse large paper-cash transactions.
Who pays for cars in cash these days when the amount is more than a few grand? Like actual cash? I can see why some dealers refuse large paper-cash transactions.
I think 99% of the time a "cash" deal really just means bank draft. Would be cool to walk in with a brief case handcuffed to your hand though haha.
Fuck that. One time I had to move $100k in cash (not mine) and it was the second-most stressful experience of my life.This quote is hidden because you are ignoring this member. Show Quote
EDIT: A LEGAL $100k lol
Banks get pretty pissy if you want more than 10k cash without an appointment. Especially the smaller branches
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I think I would have a heart attack carrying that around in actual cash haha. It would look very suspicious I'm sure.This quote is hidden because you are ignoring this member. Show Quote
Yep. And it sat literally under a mattress as "retirement savings" until we found out about it.This quote is hidden because you are ignoring this member. Show Quote
My favourite question is “how did you get this money”This quote is hidden because you are ignoring this member. Show Quote
Um, it’s called a job. Do you think I dress like this for comfort?
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
I thought that tellers are legally obligated to ask to see your penis above a certain dollar amount?
Everything I say is satire.This quote is hidden because you are ignoring this member. Show Quote
Nvm.
Last edited by bjstare; 08-13-2020 at 02:47 PM.
I don’t think it’s an obligation, more of a job perk.This quote is hidden because you are ignoring this member. Show Quote
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
I used to sell cars at Nissan and i sold a Titan to a guy who wanted to pay for the entire truck in cash. That raised a lot of eyebrows with the GM and finance office.This quote is hidden because you are ignoring this member. Show Quote
I assume because someone actually wanted to buy a Titan?This quote is hidden because you are ignoring this member. Show Quote
Can you even get that kind of cash from a bank? I Feel like that would be difficult. Though by the sounds of it that customer probably wasn't a fan of the banks haha.This quote is hidden because you are ignoring this member. Show Quote
I am so happy someone posted about this - I meant to, and forgot.
Earlier in the year I was trying to buy a car for my parents from a Go Mazda Dealer in Edmonton. Put an offer in (within 3% of their asking, based on a dead comparable in Kelowna), and they declined. Sure enough, about a week later they drop the price lower than my offer and I call and ask who should I get the bank draft written out to at their asking price. Its at this point they state that we must finance the vehicle, no other options available and they will not take a cash (bank draft) .
I contacted AMVIC, and they said that it was a 'grey area' (surprise, surprise)... and suggested I don't purchase the vehicle.
I was dumbfounded, hard recession, oil price in the real shitter (this is February time), and they won't accept an offer on a luxury vehicle in cash? I thought it wasn't correct, so I contacted their head office, and sure enough Go Auto would not sell any vehicle unless it is financed. It is their rule to 'avoid fraudulent activity'. I even got a draft made out to the dealer for the full amount of the bill of sale and sent it to them with a photo - still, no go. Real reason they do this, they get a kick back from the bank. It was a policy that was put in place and was not mentioned on the website at that time anywhere. Go Auto essentially owns many of the major dealers in Edmonton. Long story short, bought the car from BMW Kelowna, and could not be happier.
Obviously really poor practice, people are free to not buy their vehicles, but I bet there will be people pulled into financing arrangements which they are not able to handle.
Last edited by Neil4Speed; 08-13-2020 at 10:22 AM.
Originally posted by arian_ma
your stomach is full of sulfuric acid
Can you take the finance deal and then just pay the loan off next day? Of Course I'd grind down the price a bit more as well.This quote is hidden because you are ignoring this member. Show Quote
Greasy.This quote is hidden because you are ignoring this member. Show Quote
Sponsoring Mcdavid and Gretzky costs a lot of cheddar.This quote is hidden because you are ignoring this member. Show Quote
The word went out at the start of the Covid thing - that's what they told my father anyhow. He's been at the same bank for nearly 20 years now since he retired/medicaled out from being LE. He decided he wanted 10k cash at home just in case. The bank flat out refused at first, the teller at the counter did, then the manager came out and asked him why he wanted it, and then told him it was safer "in the bank anyway". He argued, a lot, she eventually gave him $3k and said that was the limit. He called the customer service line and told them what happened, and he had to get them to force the branch manager to give him $10k, which took a couple days (understandable, and that used to be the policy, you could order in as much as you wanted, but it would just take a few biz days to get it in). Stupid, but that's what they've been doing in my father's city in SK at least.This quote is hidden because you are ignoring this member. Show Quote
From a revenue perspective, cash buyers make the dealer almost no money. From anyone's experience, do dealerships sneak in weird BS fees and hidden costs on the final price of the car to make up part of what'd they'd lose on a finance deal? I've heard of dealerships in the US that do this.
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lol that would have been the day I close my accounts and walk across the street.This quote is hidden because you are ignoring this member. Show Quote
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote