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      01-16-2012, 05:01 PM   #45
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Quote:
Originally Posted by Lostx89xSoulz View Post
20k is not that much just a little stack. don't need a duffel bag.
Do tell us you are pulling our leg ... we will forgive you.

BTW ... they have the car listed at $44K how come they dinged you for $50K ... don't you find that strange?
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      01-16-2012, 05:02 PM   #46
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Doesn't really make sense
Should never put that much actual cash down without cash payment receipt
I bought my car without putting the actual 10k down because I forgot my check at home and dealer let me bring back the check following week. So even though contract says you are putting 20k down you still need proof of that payment.. That's why you always used check or cashiers check
It's funny why you must not want to show money in your account, I don't think 10-20k is going to make a difference
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      01-16-2012, 05:02 PM   #47
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Quote:
Originally Posted by Lostx89xSoulz View Post
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.
+1 Its not illegal to have 10K+ in cash but a bank will fill out a specious activity form if a personal account deposits or withdraws over 10K+ cash. Use to work as a teller back in my undergrad days
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      01-16-2012, 05:07 PM   #48
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Quote:
Originally Posted by Lostx89xSoulz View Post
20k is not that much just a little stack. don't need a duffel bag.
Quote:
Originally Posted by Lostx89xSoulz View Post
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.
Shady-meter has just overloaded ...
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      01-16-2012, 05:13 PM   #49
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Quote:
Originally Posted by Rolf-Dieter View Post
BTW ... they have the car listed at $44K how come they dinged you for $50K ... don't you find that strange?
TTL plus wheel and tire insurance????
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      01-16-2012, 05:14 PM   #50
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Quote:
Originally Posted by Rolf-Dieter View Post
Do tell us you are pulling our leg ... we will forgive you.

BTW ... they have the car listed at $44K how come they dinged you for $50K ... don't you find that strange?
The extra $6k is to launder the cash.
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      01-16-2012, 05:22 PM   #51
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Quote:
Originally Posted by Foodle View Post
In actual bills!? Seriously!? Ok, so you have any kind of receipt for your withdrawal from the bank of $20k in cash, or did you get the bills straight from your street-level meth dealers?



Ask them or the police. If what you say is true, then somebody at the dealership stole $20k in cash from you.
I thought people in your line of business knew what to do when someone ripped them off. Why bother a bunch of guys in a car forum ?
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      01-16-2012, 05:26 PM   #52
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      01-16-2012, 05:27 PM   #53
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Not believable.

OP is claiming someone took $20k last week and he can't be bothered to drive 90 minutes.

Yeah, right.
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      01-16-2012, 05:30 PM   #54
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Quote:
Originally Posted by Lostx89xSoulz View Post
hey guys i need to vent but also take my experience and never go to valencia bmw. Last week i bought a 08 M3 from valencia bmw, i came in with my family and did the paperwork with my $20K cash down payment. The finance manager collected my money did all the paperwork and handed me the keys and we drove off the lot and a couple days later the finance director called and said they need us to come give the down payment check and i told him that i put my down payment alrealdy and got all my paperwork here with the car. But apparently the contract is not a receipt, i'm supposed to get a separate receipt? so yesterday they repo my car, what can i do? i've called a lawyer and he told me that there would be a case but the dealer is going to fight it due to the fact that they gonna believed their employee and if it goes to court its gonna be 6 months to a year for my case to be done and over with. Any suggestion?
So take it from my experience don't deal with valencia bmw, they're a bunch of thieves.
Ok, word of advice right from the get go. I put $20,000 down on a car in 2001 that I can buy today for $9000. So NEVER put that much down on ANY car unless its a collectors car or you are buying it outright or you are buying a house. Thats a big mistake that I went through when I was in my early twenties. I will never do that again. $5000 is the max I now put down on any car and thats with 20+ years experience buying cars. I have nothing to show for that wasted $20,000.

Anyway, you do have a case. I would get a lawyer and take them to town. What else to the story are you not telling us?
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      01-16-2012, 05:32 PM   #55
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Quote:
Originally Posted by Foodle View Post
Shady-meter has just overloaded ...
Yup



Who but the OP can say whether what we have read is all that there is to the story.

I find it odd that OP has not contacted police first. The only logic that makes such a decision plausible in my mind is that OP doesn't think the police can help or is convinced that contacting the police is risky.

As for the dealership employees, if one or more surmised that OP was someone that was unlikely to contact police over shenanigans, perhaps two or more employees conspired to take the $20k gambling that no litigation would come of it.

All in all, the OP's story doesn't add up unless the OP is clueless as to the importance of transactional documentation (e.g. receipts) or one or more aspects of the story are false. I don't know and doubt that we'll know everything there is to know.

:brb getting popcorn:
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      01-16-2012, 05:33 PM   #56
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Quote:
Originally Posted by Lostx89xSoulz View Post
on the contract it does say $20K cash down, and i finance $30K.
Well, it seems at least a bit suggestive that the dealership actually let you out of the showroom WITH the car and financing for $20k less than the final purchase price.

Just which dealer is going to let a customer "walk" without a check, financing, cash, etc. paid? It would be pretty suggestive that your contract states what actually transpired.
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      01-16-2012, 05:35 PM   #57
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Quote:
Originally Posted by Brucewonder View Post
+1 Its not illegal to have 10K+ in cash but a bank will fill out a specious activity form if a personal account deposits or withdraws over 10K+ cash. Use to work as a teller back in my undergrad days
Actually partially incorrect, its not a "specious activity form".

I had 3 banks about 10 years ago and only Bank of America could fill my $20,000 withdrawal. Union Bank had to "ORDER" the money or some bullshit excuse so you can't just go in and take out $20,000 in 100's. They told me they order enough to get by for the week and they have people that get paid weekly that withdrawal immediately so they have to be able to cover all those transactions. So I said thanks and went to my other bank. Takes 3-5 working days to order the cash.

The rule how I read it is, anything over $10,000 in cash, either a deposit or withdrawal gets reported. The form is a called a CTR, if the bank never asked you to fill it out is because it is either electronic or they have all the info in your account to fill it out themselves (which they're supposed to do already on your behalf). They just look up the info in your account, fill it out and fax it to their back office who then reports it. The form itself isn't a problem, neither does it mean you will get audited, its merely a disclosure, if there's a bunch of these in a year and you're not a business, then there may be some questions, however, they can trace the money from your info, your job/business, the account activity so it all gets done w/o the person even knowing.

Last edited by Endless619; 01-16-2012 at 05:48 PM.
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      01-16-2012, 05:51 PM   #58
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20, 000 cash indeed can fit in a standard mailing envelope.

its worth it to call the police and tell them someone stole your car.


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      01-16-2012, 05:54 PM   #59
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I believe anytime you make a cash transaction over $10,000, the retailer needs to report it to the IRS.

http://www.irs.gov/businesses/small/...148857,00.html

So, the red flag should have gone off to the OP that he didn't have to fill out any IRS form when he gave the finance manager the cash. As for the duffle bag comment, $20,000 in cash, it is simply 200 Benjamin's.

As for an actual receipt, the contract is your receipt as long as it's stated the $20,000 cash was written on the document and paid at the time of purchase.

OP, if they are not returning you calls, you need to drive 1 1/2 hours with your lawyer to the dealership. If not, then it's your $20,000 loss.
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      01-16-2012, 05:55 PM   #60
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I'm surprised that a dealer would release a car without ensuring that they got the down payment in hand. I can understand financing paperwork snafus.

But...why keep posting here? I would be at the dealer whoopin' some ass!
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      01-16-2012, 06:05 PM   #61
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I'm actually not surprised by the cash thing. OP is likely a small business owner... probably a restaurant owner. You know all of those little places that are "cash only"... Everyone knows they lie on their taxes.

Cash = no trail = claim whatever you want to the IRS. Gotta keep the money out of the bank or you'll fail your audit. These people buy houses, cars, etc with cash.

My GFs neighbor is a small restaurant owner and not-surprisingly their house is the only one that gets broken into over and over again.
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      01-16-2012, 06:22 PM   #62
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Something is real fishy about this story ...

Dealer had only one used M3 on the lot (I assume it is the OP M3 that they took back from him)

Try to contact the dealership about this 2008 M3 and they will come back to you and tell you it was sold last night.

Sorry OP seams they took your $20K and sold your repossessed car again last night.

Oh it is still listed, they do explain it will take a few days to remove a sold car from there web site inventory.

The car in question (2008 M3) was $44K not $50K

Perhaps the OP put some score marks on the car ? and devaluated it since driving it of the lot ?
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      01-16-2012, 06:25 PM   #63
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1. Forget about your money, no proof you paid them. I don't see a case here. And, the contract is no proof of payment.
2. You probably want to change the thread name, might get them to sue you over it...
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      01-16-2012, 06:26 PM   #64
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Bizarre. So, you put $20K down and did not get a receipt? Why cash? Show us your paperwork.
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      01-16-2012, 06:29 PM   #65
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Southlight ... please get the key for this thread I think it's time to close the Door
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      01-16-2012, 06:30 PM   #66
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Quote:
Originally Posted by rhird View Post
I thought people in your line of business knew what to do when someone ripped them off. Why bother a bunch of guys in a car forum ?
hahahahaha!
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