Thinking about bringing 12k cash to the dealer

[Bob_VT]

Originally Posted by iwantayarisnyc

would the dealer give me a new yaris for 12k cash, including taxes.

of course the lowest model(i'm looking at the 3dr hatch, auto)

thanks guys, first post

Good luck. I will be waiting to hear the results of your quest!

[mfratt]

So when they ask you to fill out a credit approval paper, you just drop a nice heavy, thick envelope on his desk and be like "what credit?"

But yea I doubt $12k would do it. $13,500 maybe

[anonymous user]

Originally Posted by camelll

First off a dealer is highly unlikely to accept a cash payment for that much money, they will ask you to go and get a cashiers check, They will probably not even take a credit card payment for that much money never tried to do a credit for that much. Second if you pull or try to deposit $10,000 or more cash out of a bank or credit union account at one time be prepared for the bank or credit union to tell you they have to fill out IRS forms and notify them, this is called Currency Transaction Report (CTR), regaurdless of how much money you have in your savings or checking.

I would contact the salesman to find out if they will accept a cash payment for that amount and I bet they say no, but if they do then they are required to file form 8300.

If you get a loan from a bank for the value of the car, they will most likely have it in form of cashiers check made out to the dealer. If for some reason they decide to make the check payable to you (which they won't) and you cash it for full amount, again be prepared for them to tell you they have to file paperwork with the IRS and notify them. (if it is over 10,000 dollars).

For your safety and intrest you should be getting a cashiers check or certified check anyway instead of walking around with 12k in your pocket. It feels good but it is not the smartest thing in the world to do with the economy the way it is and then on top of that you are posting this info on the internet.

On another money note a SAR (suspious activity report) must be filed when transactions or attempted transactions involving at least $5,000 that the financial institution knows, suspects, or has reason to suspect the money was derived from illegal activities. This is also filed when transactions are part of a plan to violate federal laws and financial reporting requirements (structuring). Casino's must also follow these laws as well for transaction over 10,000 dollars it is called Currency Transaction Report Casino (CTRC).

Wow, we take these stupid tests every month on that stuff, you must work for a bank camell.

[LtNoogie]

Originally Posted by camelll

First off a dealer is highly unlikely to accept a cash payment for that much money, they will ask you to go and get a cashiers check, They will probably not even take a credit card payment for that much money never tried to do a credit for that much.

I tried to put my Yaris on my American Express to get all the airline miles. The dealer said that they will only do a credit card transaction up to $5,000. Luckily, I had my cashier's check in my pocket.

[iwantayarisnyc]

thanks guys for some hilarious posts, and opinions. My search will continue.....