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      01-16-2012, 09:25 PM   #89
Lostx89xSoulz
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Thanks someone actually understand. So getting a lawyers is the only solution. Just post this so members can be careful of this stupid dealer. (VALENCIA BMW)

Quote:
Originally Posted by rantarM3 View Post
Some clarification on this whole $10K question.

First, the dealer has to report any transaction to the IRS if more than $10,000 in cash is involved. If you go to your bank and make a deposit of more than $10K it will report the transaction. These rules apply when in the course of its trade or business a business receives such an amount. It's all part of the anti-money laundering rules incorporated in the Bank Secrecy Act.

So, in the OP's transaction, the dealer will have to report the receipt of the $20K to the IRS. Not a big deal, just part of doing business in the US.

As for why the OP did not want the cash hitting his bank account, he has his own reasons and does not need to tell us anything. His reasons may be entirely legitimate. Generally, however, folks may not want to deposit cash in an account in their name because they may be trying to avoid creditors, which can include ex-spouses looking for alimony or child support, the IRS, or even a party that has a judgment against the account holder and is trying to collect. Sure it sounds suspicious but it's all just conjecture.
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      01-16-2012, 09:34 PM   #90
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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 ?
Reminds me of a movie line:

How come you don't keep your money in the bank like normal people?

"Banks get robbed."


To the OP, this is so stupid I just have to call BS... There's no point in trying to hide the source of the cash, since when you buy a big ticket item with cash they're going to file paperwork saying you did it, so any party that is interested in your finances (divorce lawyers, bankruptcy court, and especially the IRS) is still going to have a subpoenable paper trail to prove you had that money once they notice you cruising around in a shiny new car. The fact that you withdrew it from the bank in several smaller transactions just means you put yourself through extra effort for no good reason.

If you thought a bunch of internet forum doofuses that can barely write English are going to have a fix for your problem, that's even dumber :-)
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      01-16-2012, 09:35 PM   #91
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Originally Posted by AMPowerJ View Post
Guess I am not going to worry about the strawberry lemonade, I paid $1.79 for the other day at McDonalds, that I drove off and forgot to get at the window.
wait, Mcdonalds serves strawberry lemonade now? i just realized that i haven't been there in forever...
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      01-16-2012, 09:35 PM   #92
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BTW, am I the only person with an overwhelming urge to call up Valencia BMW and ask if I can buy an M3 in cash? LOL...
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      01-16-2012, 09:36 PM   #93
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Quote:
Originally Posted by ///My5UV View Post
Reminds me of a movie line:

How come you don't keep your money in the bank like normal people?

"Banks get robbed."


To the OP, this is so stupid I just have to call BS... There's no point in trying to hide the source of the cash, since when you buy a big ticket item with cash they're going to file paperwork saying you did it, so any party that is interested in your finances (divorce lawyers, bankruptcy court, and especially the IRS) is still going to have a subpoenable paper trail to prove you had that money once they notice you cruising around in a shiny new car. The fact that you withdrew it from the bank in several smaller transactions just means you put yourself through extra effort for no good reason.

If you thought a bunch of internet forum doofuses that can barely write English are going to have a fix for your problem, that's even dumber :-)
I are not a intrntz doofis
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      01-16-2012, 10:21 PM   #94
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I are not a intrntz doofis

+1
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      01-16-2012, 10:26 PM   #95
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Quote:
Originally Posted by ///My5UV View Post

If you thought a bunch of internet forum doofuses that can barely write English are going to have a fix for your problem, that's even dumber :-)
Finally, we have a winner! Well said.
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      01-16-2012, 10:30 PM   #96
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Quote:
Originally Posted by M3PO View Post
Sometimes, they have it on hand but won't admit it until they see your balance because they think you might be scoping out a heist. Bank of America had to "order" cash for me one time when I needed to take out $10K even after they saw my balance.
The banks knew me though. They claimed they could give me $5000 cash now and $15000 in 5 days. I ran over to BofA and they had it on hand and asked if I needed more. lol Its a large bank in San Diego and the Union Bank was a small branch and made sense but not what I wanted to hear at the time. lol

I see where you are coming from though. I agree. I would be skeptical too. $20,000 does not take up much room. I had it in my foul weather jacket rubber banded up. lol

This is $10,000 cash. See, its small...


Last edited by Endless619; 01-16-2012 at 10:35 PM.
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      01-16-2012, 10:34 PM   #97
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did you hand the 20k in cash in a dirty brown paper bag?
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      01-16-2012, 10:35 PM   #98
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Quote:
Originally Posted by Darth One View Post
wait, Mcdonalds serves strawberry lemonade now? i just realized that i haven't been there in forever...
it's pretty good, but a bit on the sweet side, give it a try
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      01-16-2012, 10:43 PM   #99
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I had a guy show up at my house when I sold my S4 with 11K in cash in his pocket. Took it to the bank. No big deal. I also pulled 768,000 in cash out of a mule car on the side of the highway. THAT was a big pile of cash. If its my money, I'm getting a receipt and a witness.
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      01-16-2012, 10:51 PM   #100
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I think I'm starting to fall in love with this forum all over again.
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      01-16-2012, 11:18 PM   #101
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Shady. Sorry to hear this.
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      01-16-2012, 11:52 PM   #102
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have always heard shady things about this place...

ive met the so called used car manager and he seemed shady as hell
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      01-17-2012, 12:03 AM   #103
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Quote:
Originally Posted by OC ///M View Post
I think I'm starting to fall in love with this forum all over again.
nice avatar, lesson learned here... go to Ashley Schaeffer BMW! LOL
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      01-17-2012, 12:17 AM   #104
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Hey gents just responding to the op. I left a 17k down payment on my 11 m3 coupe in hard cash and the first thing the finance manager gave me was a receipt. Very weird that you didn't receive one. Personal opinion I would take the lawyer route and just wait the 6 months. I wouldn't really care at this point about to car I would just concern myself with 20k that is missing. Scumbags for what they Are doing too you. How did they even let you leave the dealership without leaving the downpayment.
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      01-17-2012, 12:19 AM   #105
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Something is not right.......a legit dealer just does not take $20K and take the car back. When I was in the business soon as the cash ($10k +) is handed to finance they count it then the sales manager comes in and counts it in front of finance and customer THEN a receipt is written up and becomes part of the paperwork.

Cars are not taken back unless there is a serious issue regarding financing. I want the hear how this comes to a conclusion.
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      01-17-2012, 12:19 AM   #106
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Ugh, can't believe I read 90% of this so far.
























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      01-17-2012, 12:29 AM   #107
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? wtf? no surveillance videos inside the dealership? if so, they definitely should see your sales manager with a shitload of cash. go straight to the dealership.
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      01-17-2012, 12:33 AM   #108
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Clearly it was the poor technique you used to hand over the cash. See below for the proper way of handing the cash over.

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      01-17-2012, 12:54 AM   #109
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Quote:
Originally Posted by AMPowerJ View Post
Guess I am not going to worry about the strawberry lemonade, I paid $1.79 for the other day at McDonalds, that I drove off and forgot to get at the window.
True story, me and my wife went to dinner, she didnt finish her crab legs so she had it to go. She woke up in the middle of the night upset cause she remembered that she forgot the to go bag at the restaurant.

As far as $20 it not that big. The most I have come home once after closing up shop was $40k and all of it fit in my pockets. I was uneasy, here I am driving in a beat up chevelle with that much cash on hand.

OP get cops involved fast. But Im thinking your SOL at this time if you dont show proof you paid cash that night.
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      01-17-2012, 12:57 AM   #110
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Wow this thread is very.. interesting.. hope you get it figured out OP.
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