Armed Polite Society
Main Forums => The Roundtable => Topic started by: Chester32141 on January 23, 2017, 06:48:28 PM
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Expect to get about $7500 soon for a car ... what's safer Cashier's check or Cash :old:
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Well, if you get it in cash it will make it easier for you to give me some. =D
:rofl:
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Last car we bought, we negotiated the deal (used car at a Ford dealership), shook hands, and ran down to the bank to get a cashier's check in the agreed upon amout while they washed the car and prepped the paperwork. Made the paperwork a lot fatster with no loan paperwork.
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Cash. Cashier's check can be faked much easier than cash.
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Less of a paper trail with cash. [tinfoil]
(never mind the title & registration - .gov can't trace that. ;) )
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Cash.
But speaking of [qualifier] checks, are traveler's cheques still a thing? And how do they work? I pretty much only know about them because of Office Space.
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I haven't seen a traveler's cheque in nearly 15 years. One of the previous companies I worked for (forget which) was fond of using them for spot bonuses.
Chris
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Cash. The amount is under the threshold for bank mandatory reporting.
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Cash. The amount is under the threshold for bank mandatory reporting.
Yeah. that way they can accuse you of gaming the system to get by the reporting requirement and seize the cash anyway.
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Yes, and that way the cash itself is a criminal and will remain in custody until the cash can hire a lawyer and beat the rap. I guess the cash gets one free phone call, though.
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Cash.
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Cash.
Under $10k, cash.
Over $10k, cashiers check or wire transfer. I have to call the bank on the check with the buyer present to make sure it is legit.
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What exactly do we mean by "safer"?
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I took almost $13k in cash for a car earlier this year. No biggie. I did invest in one of those little pens that you draw on bills and they are black or gold.
With the ubiquitous nature of computer graphics editing these days I wouldn't take a bank check unless I was at the bank that issued it and they confirmed it. Too easy to make one.
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A mix of chickens, goats, and sheep.
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What about camels?
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What about camels?
Cigarettes aren't as good of a cash-value asset as they used to be.
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Cigarettes aren't as good of a cash-value asset as they used to be.
They are in prison.
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What about camels?
Their toes might get me excited.
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Does no one use gold-pressed latinum anymore?
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They are in prison.
When you're able to sit down again you'll have to tell us how that works... :O
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Does no one use gold-pressed latinum anymore?
Drazi Freehold Toks are the better value.
I'd take the cash. If you're worried about the amount you put in the bank, keep a couple or a few thousand at home in a safe and use it over the next year for groceries, etc. That said, I've deposited over $10K lots of times over the years and the IRS has not once said "boo".
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Grab the keys and run. That way you can bypass all the paperwork and a trip to the bank.
Oops, misread the OP. You are the seller, not the buyer. In that case, grab the cash, hop in the car and drive away. That way you can bypass all the paperwork and a trip to the bank. And you still have the car to sell again.
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It doesn't matter how much cash you receive for selling something. You don't have to deposit it all at the same time or at all. If you do, just keep records of the sale. I've deposited larger amounts of cash many times. Just because the banks have to report it, there is no reason for that to trigger any government scrutiny.
Cash is still king in my view.
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Sorry, read the OP wrong. In your shoes, knowing what I know, I'd probably ask for the cashier's check. Yes, they can be faked, but I've seen a lot of good counterfeit cash of late, using the same scanners, software, and printers you can use to fake the check. And there's a method for people to treat the money so that it reacts to the pens in a similar fashion to real cash (no, I won't tell you how).
Probably the best option is to agree to a check, meet at your bank, and turn over the keys and title after the bank has run the check (so long as the computers are running, the bank should be able to verify it is a good check pretty quickly).
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I like cash, but paranoia would push me to the check. Transfer at bank as stated. With cash and unknown buyers there is a risk of a 3rd party robbing you shortly after the sale in a total coincidence. Also, on counterfeit bills if you happened to get one and spend it now your life is hell proving you were an unwitting dupe.
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I've done the meet at the buyers bank thing for private sales a few times. Seems to work well.
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They are in prison.
Not anymore. Prisons are smoke free
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Thankfully it looks like the deal is falling thru ... I bought a car at a small South Florida dealership ... spotted the car on ebay and the seller had all positive feedback ... bought the car before auction end for $2500 less than I was planning to bid ...This is the third car I've purchased this way. Difference here was the seller let the auction finish even though the car was sold ... winning bid was $2400 more than I paid for the car. Drove the car 250 mi home and it ran great but it had minor cosmetic issues that gave me a nagging case of "buyers remorse" ... Next morning the dealer called and said the auction winner really wanted the car and if I was interested they would give me $750 more than I paid for the car and come pick it up ... called them back and said OK ... I told the owner I spoke with that all I needed was for them to respond to my email stating that they were bringing me $7600 in a cashiers check and once I had that they could take the car ... so far they refuse to put it in writing ... I smell a rat ... jury is still out but I'm not having some mope show up w/a flatbed and no money and expect me to release the car ... had they offered to buy it back for the price I paid and followed thru I would have gladly parted w/it ... I get the feeling their goal is to get the car back down there w/o paying for it so they can offer to put it on consignment if the buyer they have doesn't like it ... last time I buy a car in South Florida ...
:old:
The auction ... http://www.ebay.com/itm/322387898336?ssPageName=STRK:MEDWX:IT&_trksid=p3984.m1435.l2649
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Is the reporting of the >$10K for the IRS (as someone mentioned), or for Homeland Security? I understood it's to track down possible money laundering, not for taxation purposes.
???
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If you buy a postal money order for over 3500 it's reported as well
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Is the reporting of the >$10K for the IRS (as someone mentioned), or for Homeland Security? I understood it's to track down possible money laundering, not for taxation purposes.
???
It's reported to the treasury department, specifically FINCen. It's under Treasury like the IRS, but not under the IRS.
So I suppose the IRS can get the records for an investigation they're doing, but so can't the FBI, Homeland, etc...