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+--- Thread: Hey, another car question: Paying "cash"? (/showthread.php?tid=100271)
Hey, another car question: Paying "cash"? - Greg - 07-15-2010
So if I give a private party cash...is it actually cash? A suitcase full of money? I assume "cash" can also refer to a cashier's check or other instrument?
Seriously...I've no experience with buying a car without financing.
Thanks,
n00b
Re: Hey, another car question: Paying "cash"? - Greg - 07-15-2010
Of course, I could have asked friends about this, but why turn down the opportunity to publicly flaunt my ignorance?
Re: Hey, another car question: Paying "cash"? - freeradical - 07-15-2010
Cash simply means that you're not financing your purchase.
If the buyer is okay with rolls of quarters...
Re: Hey, another car question: Paying "cash"? - Racer X - 07-15-2010
If it doesn't involve a car dealer, and is a private sale, cash means cash. At a dealer/broker, "cash" also can mean cashier's check.
If it is a private sale, as a seller, any sort of check I would insist going to the buyer's bank, and cashing it for cash. Cashier's checks and money orders can be forged.
DO NOT FORGET TO MAKE SURE THE TITLE GETS TRANSFERED! DO NOT TRUST THE SELLER ON THIS, OR THE BUYER FOR THAT MATTER!!!!!!!!!! (whichever you are not)
Re: Hey, another car question: Paying "cash"? - Filliam H. Muffman - 07-15-2010
I used hundreds when I bought my last car. I called the bank the day before to ensure that they had enough cash on hand. I had a GF that was a teller back in the 1980's, they only had $3k in the drawer to start the day and it was rare to run out.
Some people will take a cashiers check if they watch you get it from the teller.
Re: Hey, another car question: Paying "cash"? - M A V I C - 07-15-2010
As Racer X said, to a private party cash means cash. Some dealers may think the same. I remember when I sold my last car, two girls show up to look at it, and wanted to buy it right then. They had well over $10k cash in a bag. Yes, I proofed every bill
100's.
Re: Hey, another car question: Paying "cash"? - Trouble - 07-15-2010
M A V I C wrote:
As Racer X said, to a private party cash means cash. Some dealers may think the same. I remember when I sold my last car, two girls show up to look at it, and wanted to buy it right then. They had well over $10k cash in a bag. Yes, I proofed every bill
What did you do with the dye pack?
Re: Hey, another car question: Paying "cash"? - haikuman - 07-15-2010
If it is a Cash deal meet them at DMV and do the title transfer and pay at the same time. As your Attorney that will be $500.... pay me 1st *(:>*
Re: Hey, another car question: Paying "cash"? - Mini 9 - 07-15-2010
Banks will flag (perhaps unbeknownst to you) cash transactions that are over a certain size. Can't recall the $#.
Re: Hey, another car question: Paying "cash"? - Mr645 - 07-15-2010
The amount of cash that requires the teller to fill out an IRS form was recently changed from $10k to $5k