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Brynda
03-23-2010, 02:03 PM
I am buying myself a new Beetle this weekend, assuming it arrives at the dealership this week. I plan to pay for it outright, without financing. How does that work? Will a personal check be okay, or will I have to get a cashier's check?

StGermain
03-23-2010, 02:09 PM
Pennies. :D Wouldn't that be cool?

I'd call ahead and ask for the total with tax, tags, etc and bring a cashier's check. You'd hate to be held up because they wanted to wait for your check to clear.

StG

Spoons
03-23-2010, 02:10 PM
I've bought new cars for cash before. IME, the dealership prefers a cashier's cheque, certifying that the funds are on deposit and available to the payee.

Years ago, when cars cost much less, I recall hearing stories of people who brought in actual cash. I even knew some who bought their cars this way. But I would imagine that with cars costing much more nowadays, the impracticality of carrying (for example) $20,000 or more to be counted in the dealership--not to mention the security risk--means that cashier's cheques are the preferred method of paying "cash" for a car.

Anne Neville
03-23-2010, 02:10 PM
I paid for my current car with a personal check when I bought it from a dealership.

alice_in_wonderland
03-23-2010, 02:12 PM
I paid for my current car with a personal cheque.

Due to the amount of the cheque (about $37,000) I thought they would wan't a cashier's cheque, but when I asked the guy said that he knew where I lived and if the cheque bounced they would just come and get the car, which seemed fair enough.

JohnM
03-23-2010, 02:13 PM
I paid for my current car with a personal check when I bought it from a dealership.Same here. It was accepted without question or delay, and the dealership deposited it the next business day.

Giles
03-23-2010, 02:13 PM
I bought a (used) car for cash using a cashier's cheque.

GrandWino
03-23-2010, 02:14 PM
I used to sell cars, ten years ago or so. Once in awhile we'd sell them for cash outright... big purchases too... $30-40k trucks and whatnot. I'd say payment was split evenly between cashiers checks and personal checks. With personal checks we'd call the bank to verify funds and let them take the vehicle home that day.

One time an older couple came in and bought a $15,000 car. Said they'd pay cash so I expected a check. Instead they pulled out a duffel bag full of money, like something you'd see used for a kidnapping ransom.

kayaker
03-23-2010, 02:16 PM
My little brother has purchased several new cars with cash. He goes in knowing exactly what the best deal he thinks he can get will be. He brings the cash in a brown paper bag (for effect). Then He offers the amount in the bag for the car. He explains that he wants to drive the car home in thirty minutes or less, and he is not willing to consider counter offers.

Anything other than agreement from the car dealership, and he walks his business to the competition. I could never do it, but he has done fine.

melodyharmonius
03-23-2010, 02:18 PM
Just a thought - but if you do call ahead to tell them you need a copy of the final total so you could get a cashier's check - it might help you spot in advance any additional "fees" they might try to tack on at the end.

And if they accidentally leave them off, it will give you a bargaining chip for not trying to add something at the last minute. (You can take the cashier's check for the amount you told me, or I can walk away).

hellpaso
03-23-2010, 02:18 PM
I've always just used personal checks with no problems at all. Go ahead and check with them to be sure. Congrats on your new wheels! My daughter loved her New Beetle!

Eureka
03-23-2010, 02:18 PM
We paid for my car with two personal checks. My parents were helping me pay for it, so Dad brought a check he'd printed on the computer, and I brought a personal check and wrote it out for the exact amount remaining.

I was surprised that the car dealership seemed more trusting than the Grocery store given the relative sums of money, but, in retrospect, despite our jokes about cars depreciating as soon as you drive them off the lots, if they had to come reposess it, the car would most likely have retained more of its value than food does.

Harmonious Discord
03-23-2010, 02:19 PM
I've used a personal check. They have all that paperwork on the vehicle they sell you so it's not like they don't know details about you. However you should just ask the business what ways they take payment and assume nothing.

Brynda
03-23-2010, 02:19 PM
Oh, I wanna pay in pennies! :)

I think I will plan on personal check, and if they demand a cashier's check, my bank is across the street.

I don't want to call in advance because I am hoping to negotiate the price with the assumption of financing (she hasn't asked), then pull out a checkbook. Don't know if that will work, as the salesperson is obviously much more skilled at this than I am.

Markxxx
03-23-2010, 02:31 PM
I bought a used car from a dealer and used a personal check that was certified.

MPB in Salt Lake
03-23-2010, 02:42 PM
I used to sell cars, ten years ago or so. Once in awhile we'd sell them for cash outright... big purchases too... $30-40k trucks and whatnot. I'd say payment was split evenly between cashiers checks and personal checks. With personal checks we'd call the bank to verify funds and let them take the vehicle home that day.

One time an older couple came in and bought a $15,000 car. Said they'd pay cash so I expected a check. Instead they pulled out a duffel bag full of money, like something you'd see used for a kidnapping ransom.

If you have it in 100's, $15,000 in cash will fit into a back pocket with no problem at all..........

friedo
03-23-2010, 02:48 PM
A friend of mine put his new Honda Valkyrie on his AmEx. Got bonus points like a motherfucker.

Koxinga
03-23-2010, 02:58 PM
I think paying cash for any amount over $10,000 entails filling out some Federal forms aimed at reporting/discouraging potential money laundering, doesn't it?

cantara
03-23-2010, 03:06 PM
I negotiated the price for our current car as a 1 year old used car. We had agreed on the price and asked how I wanted to pay and I pulled out my Visa card. He turned it down because he had to pay a 2% commission to Visa. I ended up paying with a personal cheque. I don't recall if I had to write the Visa number on the back :rolleyes:.

I discovered later that the Visa merchant agreement doesn't allow (p. 9 PDF) (http://usa.visa.com/download/merchants/rules_for_visa_merchants.pdf)the merchant to deny payment with the card.
Always honor valid Visa cards in your acceptance category, regardless of the
dollar amount of the purchase. Imposing minimum or maximum purchase
amounts in order to accept a Visa card transaction is a violation of the Visa rules.
Had I known that, I would have called Visa to inquire.

Lanzy
03-23-2010, 03:12 PM
I paid with a Discover card, got a huge rebate. Just sent the personal check to Discover. I've heard of using a mileage card and getting free trips.

Balthisar
03-23-2010, 03:16 PM
I think paying cash for any amount over $10,000 entails filling out some Federal forms aimed at reporting/discouraging potential money laundering, doesn't it?

That goes for checks, too, and I'm pretty sure I had to fill out one of those when closing my last mortgage.

sevenwood
03-23-2010, 03:16 PM
We've always just written a personal check. The car dealers always seemed happy with that arrangement and cheerfully let us drive our new car home.

In fact, the last two times we purchased a car we didn't have the title to the car we were trading in with us or the right amount of funds in the checking account (we had decided on a whim to look at new cars, the title to the old car was in our safe deposit box, and the funds we were going to use to purchase a car was in the savings account), and the dealers told us they'd hold the check for a day to give us a chance to transfer the money and would we bring in the old title "sometime in the next couple of days". Both times we left the old car at the dealer's and drove off in our new car

Note that the new car dealer REALLY wants to sell you one of his cars...

Gary Robson
03-23-2010, 03:24 PM
I've used personal checks before. I always try to do it during regular business hours so that they can call the bank and verify the funds. I give the bank a heads-up so it goes smoothly.

I was pretty ticked when I bought my pickup truck and tried to put it on my Visa card that gives me frequent flier miles. The dealership said they would only allow $5,000 to go on the card, and the rest would have to be cash or check.

BubbaDog
03-23-2010, 03:31 PM
Oh, I wanna pay in pennies! :)

I think I will plan on personal check, and if they demand a cashier's check, my bank is across the street.

I don't want to call in advance because I am hoping to negotiate the price with the assumption of financing (she hasn't asked), then pull out a checkbook. Don't know if that will work, as the salesperson is obviously much more skilled at this than I am.

Most car dealers are pretty anxious to get a sale. Unless you give them some reason to think you are scamming them they will most likely take a personal check.

In fact, the checkbook is a helpful tool for forcing them to reveal any hidden costs. I always tell the salesman and the dealer's reps, "The price we are discussing is the amount I'm going to write on the check. When we agree on a price then that is the Paid in Full Price". Some dealers refer to that as the (OTD) Out the Door price.

Big_Norse
03-23-2010, 03:41 PM
A friend of mine put his new Honda Valkyrie on his AmEx. Got bonus points like a motherfucker.My father bought a Mercedes on his Master Card, he got tons of airline miles he's still trying to use.

Spavined Gelding
03-23-2010, 03:56 PM
Years ago, when cars cost much less, I recall hearing stories of people who brought in actual cash. I even knew some who bought their cars this way. But I would imagine that with cars costing much more nowadays, the impracticality of carrying (for example) $20,000 or more to be counted in the dealership--not to mention the security risk--means that cashier's cheques are the preferred method of paying "cash" for a car.

Out here in the sticks it wasnít all that long ago. It was the federal/comptroller of the currency/bank examiner rules requiring an explanation for larger cash deposits to bank accounts that put an end to the practice. It was fairly common to have large purchases paid for not only with folding green but musty folding green to boot. Musty because it had been stashed in a glass jar and buried in the barn yard. When it came into my place it went to the bank right away. Otherwise it would stink up the whole office and you donít want to air out the place in the middle of an Iowa January.

Voyager
03-23-2010, 04:05 PM
I was pretty ticked when I bought my pickup truck and tried to put it on my Visa card that gives me frequent flier miles. The dealership said they would only allow $5,000 to go on the card, and the rest would have to be cash or check.

Not surprising, since the amount they have to pay to the credit card company eats into their profits by quite a bit.

I used a personal check when I bought my car 6 weeks ago. They actually ran a credit check on me before they took it.

Quartz
03-24-2010, 07:59 AM
I paid with a debit card.

septimus
03-24-2010, 09:37 AM
In rural Thailand, cars new and old are often purchased with cash. And I don't mean bank drafts or personal checks, I mean piles of banknotes. First time we bought a pickup, I stopped at bank and transferred money to Toyota's account. Bank officer acted like I was crazy and would never see money or pickup again. A few years later we bought another pickup; I went out of the way to query the Toyota managers: Wouldn't a bank draft be more convenient? No, they definitely wanted actual banknotes. We did the withdrawal paperwork at one bank branch and were sent to another branch since the first was running low on cash. The chief Toyota cashier counted all our banknotes and presumably then scurried back to the same branch and deposited them!

(Many years ago in California, a woman told me about wanting to pay cash for a new sportscar but needing to arrange a loan instead: apparently the dealer had told her that cash purchase would lead to an undesired IRS notification!)

Koxinga
03-24-2010, 09:43 AM
(Many years ago in California, a woman told me about wanting to pay cash for a new sportscar but needing to arrange a loan instead: apparently the dealer had told her that cash purchase would lead to an undesired IRS notification!)

If the dealer has a financing department, I'm sure they'd tell all kinds of stories in that case . . .

septimus
03-24-2010, 09:50 AM
If the dealer has a financing department, I'm sure they'd tell all kinds of stories in that case . . .

But she didn't have credit good enough for a loan! That's why she told me the story in the first place: she wanted me to cosign. (Now I'll agree the whole story might have been an effort to fleece gullible septimus. :smile: Give me a little credit: I didn't fall for it!)

HMS Irruncible
03-24-2010, 09:54 AM
I negotiated the price for our current car as a 1 year old used car. We had agreed on the price and asked how I wanted to pay and I pulled out my Visa card. He turned it down because he had to pay a 2% commission to Visa. I ended up paying with a personal cheque. I don't recall if I had to write the Visa number on the back :rolleyes:.

I discovered later that the Visa merchant agreement doesn't allow (p. 9 PDF) (http://usa.visa.com/download/merchants/rules_for_visa_merchants.pdf)the merchant to deny payment with the card.
Had I known that, I would have called Visa to inquire.
LOL. Then the merchant swipes your card for a $25,000 charge and it's declined as 'suspicious', and when you call your bank they tell you that you have to pre-approve charges over a certain amount. That's how that works.

The vendor should have happily volunteered to run the transaction, recomputed to add the credit card commission to your total cost. 2% of $25,000 is 500 bucks, not exactly chump change. Actually it's kind of presumptuous on your part to effectively spring a $500 surcharge on the dealer at the last minute and not expect there to be any repercussions.

Dinsdale
03-24-2010, 10:15 AM
My wife bought a new Toyota a month or two ago with a personal check. When she gave them the check, they asked her to complete a credit application.
-She refused, as she was not requesting credit.
-They said it was required by the Patriot Act (I believe they called it "the Terrorism Act").
-She asked them to show her a the portion of the act requiring credit applications for personal checks. She even had the idiots pull the Act up on their computers to find - of course - no such provision existed.
-So they changed their tune and said "How do we know your check is any good?"
-My wife thanked them for suggesting she was a thief, showed them her driver's license, and reminded them that this was the 5th car we had bought from and had serviced by them, all the while living at the same address with the same phone number less than 5 miles away. She reminded them that they could call the bank (less than 2 miles from them) to inquire as to whether sufficient funds existed.
-She offered to put it on a credit card.
-They were aghast at the suggestion, as they would have to pay the credit company a fee.
-Finally, they made a HUGE exception in JUST HER CASE, and accepted the check without a completed credit application.

What BS - and yet another example of why I let her deal with such things.

When I bought my car used from a private party in November, I brought a wad of hundreds.

Chimera
03-24-2010, 10:23 AM
If you're not paying in dollar coins and/or $2 bills, you're a pussy.

Bijou Drains
03-24-2010, 10:34 AM
These days with sales so low you could probably buy a car by trading in some cows.

nashiitashii
03-24-2010, 10:34 AM
At one point, I worked in a car dealership as a receptionist, so I'd be the person who'd process payments for cars, tags, etc. This was a medium-sized dealership in a large chain, and they were more than happy to take full payment for cars in the form of cash, check, or credit card. Do whatever makes you feel comfortable payment-wise; if they give you a hassle about financing or a credit check, don't buy from that dealership-- there's no need for them to check your credit if you're paying for it in cash.

Cheshire Human
03-24-2010, 10:47 AM
I paid for my current car at a used car dealer w/ 50 $100 bills. He had no problem with that. He even wrote it up as $3500, instead, cheating the state sales-tax man. Saved me $120.

RTFirefly
03-24-2010, 11:04 AM
I paid for my current car with a personal check when I bought it from a dealership.Ditto. And this was just last summer, in my case.

Chefguy
03-24-2010, 11:10 AM
I've purchased my last five cars with a personal check. No problems, ever. They call the bank before you ever get the keys.

Dinsdale
03-24-2010, 12:04 PM
When I bought my car used from a private party in November, I brought a wad of hundreds.

Felt I oughtta clarify that 25 of them doesn't really make all that big of a "wad" - just bigger than the number of singles I generally carry.
Yes, I happily drive a cheap POS car! :p

cantara
03-24-2010, 12:52 PM
LOL. Then the merchant swipes your card for a $25,000 charge and it's declined as 'suspicious', and when you call your bank they tell you that you have to pre-approve charges over a certain amount. That's how that works.

I had spoken to my banks Visa department to make sure I could do this prior to going. At that time I didn't have enough credit, so I had deposited the money as a credit on to the card. They listed the expected transaction on my file.


The vendor should have happily volunteered to run the transaction, recomputed to add the credit card commission to your total cost. 2% of $25,000 is 500 bucks, not exactly chump change. Actually it's kind of presumptuous on your part to effectively spring a $500 surcharge on the dealer at the last minute and not expect there to be any repercussions.

I was not aware of the commission that they have to pay to their service provider when I tried this. I also don't think I should be inquiring what their Visa costs are or paying their commission. It is a cost of doing business. I don't inquire what other businesses have to pay their providers when I pay them. I certainly did not spring the surcharge on the dealer. He asked how I wanted to pay for it and I pulled out my Visa. He did note that he should have asked how the transaction would be paid during the negotiation rather than at the end. (I had said that I would be paying for it outright, not financing, and left it at that.)

In fact the merchant agreement I linked to indicates that they are not allowed to charge extra based on the amount that is being purchased.

Always honor valid Visa cards in your acceptance category, regardless of the
dollar amount of the purchase. Imposing minimum or maximum purchase
amounts in order to accept a Visa card transaction is a violation of the Visa rules.

Always treat Visa transactions like any other transaction; that is, you may not
impose any surcharge on a Visa transaction. You may, however, offer a discount
for cash transactions, provided that the offer is clearly disclosed to customers
and the cash price is presented as a discount from the standard price charged for
all other forms of payment.



I think this whole scheme ended up costing me money since Visa charged me a Cash Advance fee when I transferred the credit balance back to my account. I don't recall all the details as this was 10 years ago.

septimus
03-24-2010, 03:20 PM
I was not aware of the commission that they have to pay to their service provider when I tried this.

Odd. Surely these fees are well known.

I also don't think I should be inquiring what their Visa costs are or paying their commission. It is a cost of doing business.

:confused: The credit card fee is a cost of doing business ... with customers who pay by credit card! They would have to be pretty simple-minded to negotiate the same price for card-payer as cash-payer.

I used to get discounts at hotels routinely by offering to pay cash. When I asked if this violated their bank contract their reply was the same as street hookers! :D "Hey, you solicited me; I didn't solicit you."

luv2draw
03-24-2010, 03:44 PM
Personal check. With all the razz-ma-tazz computerized stuff I bet they can check right away that you've got the funds...... ;)

Bijou Drains
03-24-2010, 03:48 PM
I've purchased my last five cars with a personal check. No problems, ever. They call the bank before you ever get the keys.

So what if you buy at night or on a weekend? Can they call your bank then? Maybe they have a 24/7 number to call.

suranyi
03-24-2010, 04:08 PM
I've bought two new cars within the last five years with personal checks. No problem at all. I think the salesman had to call someone to see if my checks should be honored, but it was out of my eyesight so I don't know for sure. In any case they were accepted.

Tapioca Dextrin
03-24-2010, 04:14 PM
The last two cars I bought had to be special ordered (in one case there was one available in the whole of Texas, the most recent one was the only one available in the whole US). No problems with writing a check and waiting.

ralph124c
03-24-2010, 04:42 PM
No cite, but for many years, one of the largets Porsche dealership on the east coast was in Lawrence, MA (a city known for drug distribution. According to a guy I knew there, they did make several cash sales.

Brynda
03-24-2010, 05:20 PM
Heh. Pretty funny to picture little old law-abiding me as a suspected drug dealer. :)

I am buying it on a Saturday, but my bank will be open at that time.

whitetho
03-24-2010, 05:26 PM
I used a personal check when I bought my car 6 weeks ago. They actually ran a credit check on me before they took it.This was the same thing I encountered 5 years ago.

BigT
03-24-2010, 05:51 PM
Odd. Surely these fees are well known.



:confused: The credit card fee is a cost of doing business ... with customers who pay by credit card! They would have to be pretty simple-minded to negotiate the same price for card-payer as cash-payer.

And, again, the agreement says they can't do that. If they want, they could say "No credit cards, period," but they can't charge you extra for it.

I used to get discounts at hotels routinely by offering to pay cash. When I asked if this violated their bank contract their reply was the same as street hookers! :D "Hey, you solicited me; I didn't solicit you."

As for a cash cost decrease, that IS perfectly in the rules.

wolfman
03-24-2010, 05:57 PM
I used to know an old rancher who had lived through the depression. He only dealt in cash his whole live, which he kept in duffel bags in a big safe.

One time back in the 80's he went bought a $180,000 combine in 10s and 20s. They went down to the bank so they would only have to count it once.

Voyager
03-24-2010, 06:35 PM
This was the same thing I encountered 5 years ago.

Our check wasn't from our bank, it was from our Merrill Lynch account. I guess I could have raised a stink, but we had driven back and forth between a bunch of dealers and got a better price than anyone reported online, so it wasn't a big deal. And I like the reactions to our credit score. :) I wish I had thought of paying by Discover card - we've got the credit balance, and it would have been a ton of cashback. Next time.

It was a Toyota dealer also - if my old car had waited a few more weeks to die I could have gotten an even better deal.

Chefguy
03-24-2010, 07:01 PM
So what if you buy at night or on a weekend? Can they call your bank then? Maybe they have a 24/7 number to call.

They'll do a credit check on you as soon as you agree to purchase the vehicle. If you have a good score and your address is verified, they'll take your check.

Dangerosa
03-24-2010, 07:07 PM
I think the last six cars we've owned have all been purchased with personal checks.

No, I'm misremembering, we've financed a few due to 0% financing and unable to work a cash price that gives us the same deal, but we've definitely bought cars with personal checks.

Cheshire Human
03-24-2010, 10:27 PM
So what if you buy at night or on a weekend? Can they call your bank then? Maybe they have a 24/7 number to call.

Yes, there is a call number. Same number they call to see if your VISA has a high enough credit limit. The clown in question was trying to reneg on a deal he had negotiated, because he was expecting a "financed" agreement, instead of cash. He got a "kickback" on "financed", and wasn't going to get it in this case. Let the seller beware. Boo Hoo.... Pity the poor seller....

Cheshire Human
03-24-2010, 10:34 PM
I've bought 5 cars. Only the second one was "financed". I got ripped off on the financing. The other 4 were paid for in cash. If you can't afford it in cash, you don't need it. Buy whatever you can pay for with cash, and deal with the fact that you bought junk. More often than not, you will have gotten better than you could have gotten with financing.

Cheshire Human
03-24-2010, 11:00 PM
And by "Cash", I mean LITERALLY, Benji $100s. No checks, personal or bank.

Perciful
03-24-2010, 11:11 PM
I like a cashiers check myself. I paid for my last two that way. You have a receipt and he doesn't have to worry about a check bouncing. Not that yours would but a lot of places don't take checks personal checks anymore.

Enjoy the new wheels!

Balthisar
03-25-2010, 12:34 AM
I've bought 5 cars. Only the second one was "financed". I got ripped off on the financing. The other 4 were paid for in cash. If you can't afford it in cash, you don't need it. Buy whatever you can pay for with cash, and deal with the fact that you bought junk. More often than not, you will have gotten better than you could have gotten with financing.

That's pretty cynical. There are lots of good reasons to use credit, even when you have the liquidity available to use cash.

bengangmo
03-25-2010, 02:25 AM
I heard of a Lamborghini being paid for in cash....(or at least a substanial portion)

Also, I understand that for substanial purchases the dealership pays a far lower comission. (I have heard as low as 0.9%)

Hilarity N. Suze
03-25-2010, 02:54 AM
I have written a check, used a debit card, and used a cashier's check. All those worked just fine.

I always wanted to go in and slap down actual cash, but I never did that. But I think it would work!

missred
03-25-2010, 03:16 AM
The little yellow one? Cool!

I've financed a couple of new vehicles through the "Bank of Dad" (personal loan from the folks at 0%). The dealerships were more than happy to take a personal, out of state check.

WPA-Guy
03-25-2010, 09:46 AM
I used to work in the Financing Dept of a small Car dealership.

We would take a personal check, no problem. All banks have a phone number that merchants could call to see if a particular check would clear if it were presented at that moment.

We would take cash, no problem. Just keep in mind if you pay with more than $10,000 in cash for any part, there is a form the dealer will fill out and send to the IRS. That isn't done if paying any other way because there is a clear paper trail of where the money is coming from.

We would take credit and debit cards, but tried to not advertise that fact. All merchants who accept credit and debit cards pay a fee for the transaction. It can be up to 6% on credit cards, but typically less than 2%. On debit cards it used to be a flat 75Ę charge. If the dealership has a good salesman, he will know how the vehicle will be paid for. If the customer will be using a credit card I guarantee the dealership will build in enough profit to cover the fees. Our credit card machine was at our service dept a mile down the road. If the customer wanted to use plastic, we would pack them up and drive them there OR suggest they walk across the street to the bank and get a cash advance against the card.

Perciful
03-25-2010, 10:12 AM
That's pretty cynical. There are lots of good reasons to use credit, even when you have the liquidity available to use cash.

Yes, But it does not make sense unless you can pay off the credit card right away. Who wants to pay 18 percent interest for a car? You can get much lower financing at a dealership. I have bought one new vehicle and that was to raise my credit rating so I could get a mortgage. I didn't even like the 4 percent they charged me. They are still charging me interest on my own money.

I like to save and just go in and buy a car and be done with it. I know credit is important but at this stage in the game I'm all about keeping it simple. I have like 4 bills a month to pay. In my 20's and 30's I has tons. Online banking rules!

I would also love to go in and just plunk down the cash. I just like having the receipt or I probably would. It feels good to work hard for something and save for it and then go and buy it free and clear.

I see so many people buying new cars that can't afford them. Bob Brinker from, 'Money Talks', pops into my head. "If you don't make a hundred thousand dollars a year you can't afford to drive a new car"...:cool:

Sparky812
03-25-2010, 10:51 AM
Funny, I'm buying a car with cash today and my bank gave me a choice to either draw up a draft cheque or I could pay the amount online.
Apparently, dealerships do not like when you pay with debit or credit cards as they pay a small percentage for each transaction so large amounts cost them too much.

interface2x
03-25-2010, 01:29 PM
Personally, I'd use my airline miles credit card. Charge it to get the miles, then pay off the credit card bill the next day with an electronic payment from my bank.

Perciful
03-25-2010, 01:30 PM
Funny, I'm buying a car with cash today and my bank gave me a choice to either draw up a draft cheque or I could pay the amount online.
Apparently, dealerships do not like when you pay with debit or credit cards as they pay a small percentage for each transaction so large amounts cost them too much.

Tell me about it. I went down to the Store 24 to buy two town trashbags and they would not accept a debit card, only cash. I asked why and they said they get charged for every transaction and they sold the town bags as a favor to the town so they were losing money!

Brynda
03-27-2010, 05:48 PM
I did it!!!!!!!!!!!!

Put $5000 on the credit card (for points, will pay off this week) and the rest personal check. The dealer was none too happy. I think it never occurred to them I might not finance.

The sales manager tried to argue that I could only put $1000 on the credit card, saying he had to pay a fee over that. I said that I didn't think he could limit me, per his agreement with Visa (thanks for telling me that! I learned it in this thread). He said he would call his manager. Got back to me and said I was wrong, but they would let me do it anyway. Yeah, right. ;)

He also said he would take the $150 fee he had to pay out of the saleswoman's commission. When I said "too bad" he said he was just kidding. Jerk. I didn't believe him, but thought it was a crappy thing to say, to try to make me feel guilty.

So the deed is done and the car is lovely! Robin's egg blue Limited Edition VW Beetle. I am in love.

HMS Irruncible
03-27-2010, 06:31 PM
He also said he would take the $150 fee he had to pay out of the saleswoman's commission. When I said "too bad" he said he was just kidding. Jerk. I didn't believe him, but thought it was a crappy thing to say, to try to make me feel guilty.
That one pisses me off; I've gotten that line when I've driven a particularly good bargain. My standard response is "I want to speak to the general manager. No, the real general manager. I know you're not the real general manager because the general manager's job is to pay his employees, and you're trying to get me to to that, so you must not be the general manager. So either do your job and pay your salesman, or get me the general manager who can, or be prepared to lose a sale.

Sparky812
03-31-2010, 10:40 AM
Personally, I'd use my airline miles credit card. Charge it to get the miles, then pay off the credit card bill the next day with an electronic payment from my bank.
I wanted to use my credit card for the whole amount but they refused to charge more that $2000, which I did, and then gave them a cheque for the remaining $26000.

Engineer Dude
04-01-2010, 03:57 PM
I am buying myself a new Beetle this weekend, assuming it arrives at the dealership this week. I plan to pay for it outright, without financing. How does that work? Will a personal check be okay, or will I have to get a cashier's check?

When people talk about "paying cash" for a car, that's usually a catchall term that covers cash, credit card, debit card, personal check, money order, and any other form of paying the money upfront as opposed to financing it.

Like several others in this thread, I paid $18,000 last December for a new car with a personal check.

Saintly Loser
04-01-2010, 04:14 PM
I tried to buy a car with cash once, meaning paying in full and not financing. You'd think I'd asked the salesperson if I could go on a date with his twelve-year-old daughter. They really, really didn't want to sell me that car, not for cash, not for a certified check or a wire transfer or anything. They wanted me to finance it.

We went back and forth, and they allowed that they'd sell me the car for cash if I took a bunch of options. Automatic transmission (didn't want it). Floor mats (at that price? Are you kidding?). Some lighting package, special headlights or something. More bullshit.

Eventually I just left. The next day the salesperson call me and said that OK, they'd sell me the car, but by then I'd realized that I'm better off not owning a car, and I thanked the salesman for helping me to realize that, and I've never even thought of buying a car again.

Rumor_Watkins
04-01-2010, 04:28 PM
They really, really didn't want to sell me that car, not for cash, not for a certified check or a wire transfer or anything. They wanted me to finance it.


yeah, much like anything these days, they make their money only from you being in hock. what you're actually buying is almost incidental.

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