Paying for cars with CASH?

superchevy

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Jan 6, 2005
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monterey, ca, usa
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'03 honda s2k
as an auto salesperson, i LOVE people who are paying cash or come in with pre-approved financing. it saves the finance managers and myself a ton of work and time.

it's true that there's a lot of money to be made for financial institutions, dealerships, and manufacturers to finance customers. however, it's pretty rare to get a cash buyer. whatever potential profit we lost out on will be more than made up for by all the other customers. trust me on that one.

unbelievably, there are more "sticker price" buyers than "cash" buyers. fucking idiots.
 

MPowered

Active Member
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May 17, 2006
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Washington, DC
as an auto salesperson, i LOVE people who are paying cash or come in with pre-approved financing. it saves the finance managers and myself a ton of work and time.

it's true that there's a lot of money to be made for financial institutions, dealerships, and manufacturers to finance customers. however, it's pretty rare to get a cash buyer. whatever potential profit we lost out on will be more than made up for by all the other customers. trust me on that one.

unbelievably, there are more "sticker price" buyers than "cash" buyers. fucking idiots.
As an auto salesperson then, you must absolutely love the "monthly-payment" buyer!
 

British_Rover

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Sep 4, 2006
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Torrington, CT United States
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2005 Gr Cherokee, dealer demo
Yup. Apparently the eBay ad poster (not the original owner) thought the car was South African or Dutch, because they spelled the brand name as "Jaaguar".
OH man that is funny. When I used to sell on Ebay all the time I would get killer deals because people couldn't spell things and then they got no bids.

I would buy the product then resell it in ebay and make profits of 50 percent or more.
 

TechZ

Captain Internet
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We paid in cash...well, we got the Bank to issue a Managers cheque and used that, safer than carrying a load of currency.
 

superchevy

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Jan 6, 2005
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630
Location
monterey, ca, usa
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'03 honda s2k
actually, i work at a ford dealership.:p

crown automotive owns 18 dealerships which include all major domestic brands and some foreign (bmw, volvo, honda, etc.). crown auto is owned by asbury automotive group, which owns like 98 dealerships and is traded on the nyse (abg).
 

ninja-lewis

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Joined
Jul 27, 2006
Messages
42
A big FYI to Americans: if you pay more than $10,000 in cash, not check, at a car dealership, they are required by law to inform both the IRS and the FBI. this can apply to any large purchase, not just a car.

This sneaky law is intended to keep a tab on organized crime.
There is a similar regulation in Britain too. All cash transactions over ?1,500 have to be reported to the police and investigated by the National Criminal Intelligence Service for fraud. It's mainly to prevent against money laundering (mainly proceeds from 'normal' crimes and drugs, but the scope has been greatly increased to combat terrorist funding) and as someone else mentioned a way of ensuring the government get their cut.
 
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