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      01-16-2012, 04:16 PM   #23
Foodle
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Originally Posted by Lostx89xSoulz View Post
i didn't want my bank account to go over 5k in there at all time. (other reason)
i didn't want to sign a check cause that will have to go thru my bank.
Yeah, so WTF is up with this bank thing?

... and I'm sensing a distinct reluctance to get the 5-0 involved, hmmmm ...
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      01-16-2012, 04:18 PM   #24
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Yeah, so WTF is up with this bank thing?

... and I'm sensing a distinct reluctance to get the 5-0 involved, hmmmm ...
See my earlier post
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      01-16-2012, 04:18 PM   #25
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You should contact the police, not a lawyer. But you will need to be prepared for the police to ask why you had $20k in cash that you never even withdrew from a bank account. I'm guessing you're in a line of business that is based on cash-only transactions, which may be of greater interest to the police than Valencia BMW.

About the camera, you can go back to the dealer and see for yourself if they have a camera in the manager's office.
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      01-16-2012, 04:18 PM   #26
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Originally Posted by Lostx89xSoulz View Post
i've been calling the GM all morning and they haven't return my calls. they're a 1 1/2 hr drive away.
For $20k, I think I would make time for the drive.

I still say something is up. $20k in cash is illegal to have in the first place.
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      01-16-2012, 04:19 PM   #27
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There have been too many instances where I have paid for something, but later on get a call/letter demanding payment. Lucky for me I always paid by check and was able to get a copy of the deposited check...However I don't think there is anyway that the dealership can get away with this or would even try to do this on purpose, there is too much risk for them. Take it as high up the ladder as you can, you will get the response you want.
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      01-16-2012, 04:20 PM   #28
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For $20k, I think I would make time for the drive.

I still say something is up. $20k in cash is illegal to have in the first place.
No way is it illegal to have $20k in cash...I think you're confused about the amount of cash you can travel with. You can deposit 10k at once into a bank, but you will have to fill out IRS paperwork when you do.
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      01-16-2012, 04:23 PM   #29
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Originally Posted by coogs08 View Post
No way is it illegal to have $20k in cash...I think you're confused about the amount of cash you can travel with. You can deposit 10k at once into a bank, but you will have to fill out IRS paperwork when you do.
My mistake.
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      01-16-2012, 04:23 PM   #30
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For $20k, I think I would make time for the drive.

I still say something is up. $20k in cash is illegal to have in the first place.
Really? How so?

EDIT: Sorry didn't scroll down.
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      01-16-2012, 04:24 PM   #31
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I bought my 2008 from Monrovia and my 2011 from Valencia. Valencia hooked me up. Great dealer.

Does the 2008 you bought have a custom intake plenum?
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      01-16-2012, 04:25 PM   #32
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Originally Posted by Lostx89xSoulz View Post
i didn't want my bank account to go over 5k in there at all time. (other reason)
i didn't want to sign a check cause that will have to go thru my bank.
in my contract it does state that it has the 20k cash down.
i know why would they let me drive off with all the paperwork and they car if i didn't put my down and finalize my paperwork.
Is this the car? ===> CLICK The price BTW is not $50K it is $44K and the only M3 they are showing

Why not go thru your bank? Cash under the table? ... What are you hiding?

Man in all fairness ... you hand someone that much money you need to get the right confirmation paperwork.

Case in point ... in 2010 I sold my e46 M3 privately. The fellow arrived by train I picked him up. We went to the bank deposited his certified cheque into my account. Since even a certified cheque can be falsified I asked my bank manager to phone his bank and verify that that the cash indeed had been assigned to this certified cheque. It took 20 minutes for my bank manager to confirm that the certified cheque is legitimate.

While we waited for confirmation the fellow I sold the car to wanted the key. I did not give him the key until I had the confirmation from my bank manager.

That is the way you do this ... there is no other way.
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Last edited by Mr. ///M3 RD; 01-16-2012 at 04:41 PM.
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      01-16-2012, 04:26 PM   #33
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No way is it illegal to have $20k in cash...I think you're confused about the amount of cash you can travel with. You can deposit 10k at once into a bank, but you will have to fill out IRS paperwork when you do.
Exactly, no way $20k is illegal just to have (unless it's cocaine encrusted $100's).

If you travel with more than $10k to or from the US, you have to declare it, but it's still not illegal. If you want to take $100M in cash from the US to Mexico, there's nothing illegal about that, but just expect a lot of scrutiny about where that money is coming from and going to.

I don't think you need to fill out IRS paperwork if you deposit more than $10k. Have done this before (e.g., house sale) without any additional paperwork. However, I think the bank has to notify the IRS when this happens (which it sounds like is what the OP was trying to avoid).
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      01-16-2012, 04:28 PM   #34
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      01-16-2012, 04:29 PM   #35
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Quote:
Originally Posted by Foodle View Post
Exactly, no way $20k is illegal just to have (unless it's cocaine encrusted $100's).

If you travel with more than $10k to or from the US, you have to declare it, but it's still not illegal. If you want to take $100M in cash from the US to Mexico, there's nothing illegal about that, but just expect a lot of scrutiny about where that money is coming from and going to.

I don't think you need to fill out IRS paperwork if you deposit more than $10k. Have done this before (e.g., house sale) without any additional paperwork. However, I think the bank has to notify the IRS when this happens (which it sounds like is what the OP was trying to avoid).
We call that added value
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      01-16-2012, 04:30 PM   #36
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Quote:
Originally Posted by immiketoo View Post
Really? How so?

EDIT: Sorry didn't scroll down.
Quote:
Originally Posted by Foodle View Post
Exactly, no way $20k is illegal just to have (unless it's cocaine encrusted $100's).

If you travel with more than $10k to or from the US, you have to declare it, but it's still not illegal. If you want to take $100M in cash from the US to Mexico, there's nothing illegal about that, but just expect a lot of scrutiny about where that money is coming from and going to.

I don't think you need to fill out IRS paperwork if you deposit more than $10k. Have done this before (e.g., house sale) without any additional paperwork. However, I think the bank has to notify the IRS when this happens (which it sounds like is what the OP was trying to avoid).
Was my mistake on that one.
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      01-16-2012, 04:31 PM   #37
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+1 good read. Want to see how this develops.

But yea OP, no offense, but $20k in hard cash isn't normal. Normally a "cash" transaction involves a cashiers check or wire transfer, not a brief case (or duffel bag in your case?) full of actual bills. If you really want your money back, you need to call the cops. If you are laundering money, I'm sure your "boss" won't be too happy with you.
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      01-16-2012, 04:33 PM   #38
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You should contact the police, not a lawyer. But you will need to be prepared for the police to ask why you had $20k in cash that you never even withdrew from a bank account. I'm guessing you're in a line of business that is based on cash-only transactions, which may be of greater interest to the police than Valencia BMW.

About the camera, you can go back to the dealer and see for yourself if they have a camera in the manager's office.
+1
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      01-16-2012, 04:50 PM   #39
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wow.

if all this is true and not someone having some fun at the forum's expense, i don't know where to start.

but i do admit it would be priceless to walk into a dealership, plonk down a duffel bag and start counting out bands of $100 bills
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      01-16-2012, 04:52 PM   #40
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strangest story ever.
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      01-16-2012, 04:56 PM   #41
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strangest story ever.
Strange is putting it mildly ...
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      01-16-2012, 04:57 PM   #42
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Quote:
Originally Posted by coogs08 View Post
No way is it illegal to have $20k in cash...I think you're confused about the amount of cash you can travel with. You can deposit 10k at once into a bank, but you will have to fill out IRS paperwork when you do.
thank you, exactly the amount of money you have is not illegal just if you deposit it into the bank more than 10k you have to answer to where the money come from.
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      01-16-2012, 04:57 PM   #43
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Strange is putting it mildly ...
Agreed
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      01-16-2012, 04:57 PM   #44
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wow.

if all this is true and not someone having some fun at the forum's expense, i don't know where to start.

but i do admit it would be priceless to walk into a dealership, plonk down a duffel bag and start counting out bands of $100 bills
20k is not that much just a little stack. don't need a duffel bag.
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