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01-16-2012, 06:32 PM | #67 | |
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01-16-2012, 06:36 PM | #68 |
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I will PM you the Dealer response to me. Perhaps you are right ... and they use the "has been sold" response as a cushion.
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01-16-2012, 06:50 PM | #69 |
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You can enter the US with any amount of cash, as long as you declare it. Also, $20,000 in hundreds does not take much space. Why is it so hard to believe that some people have reasonably large amounts of cash on hand?
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01-16-2012, 07:09 PM | #70 | |
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01-16-2012, 07:09 PM | #71 |
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I deposited $23,000 in a regular fashion February of last year. No IRS paper work or anything.
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01-16-2012, 07:10 PM | #72 | |
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01-16-2012, 07:52 PM | #73 |
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if i was 100% clear on my end (as in, legit cash, legit transaction, etc...), i would have been in the repo truck that took my M3 back to the dealership to get to the bottom of that real quick...
either with the salesman who "received the cash and gave the keys to OP", or with the GM... |
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01-16-2012, 08:00 PM | #75 |
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I paid for my last Z06 in cash..... It took the bank 4 hours to get the money, and when I went to the dealership it was nothing but a hassle... Filled out a ton of paper work and the sales manager and myself counted the money four times... To be honest i was pretty disappointed when i saw what 70k looks like...Never again.. Bank draft is it... As far as depositing 10k you do have to fill out a form, even if the bank has all your info to fill it in you still have to sign it and they copy your license with it...from my own personal experience unless something really shady was going on there's no way op would have walked out of there with out stone cold proof of his cash down....
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01-16-2012, 08:07 PM | #77 |
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01-16-2012, 08:11 PM | #78 |
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This also holds true if you make a purchase for 10k in cash. You must fill out IRS forms and others........Phil
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01-16-2012, 08:17 PM | #80 |
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I think people on here are being a little too harsh on the OP. While it's possible that he deals in cash to avoid taxes or because he's a drug dealer, it's also possible that he's a regular guy.
Either way, the dealer misplaced $20,000. That isn't just incompetent, that's criminal and a serious and legitimate problem for anyone. Seriously guys, wtf?
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01-16-2012, 08:28 PM | #81 | ||
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01-16-2012, 08:39 PM | #82 |
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OP - time to move on. It's only 20k and really not work the hassle. Go find another dealer and don't half-ass it next time. Bank roll the entire amount.
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01-16-2012, 08:39 PM | #83 |
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01-16-2012, 08:44 PM | #84 |
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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, 08:52 PM | #86 |
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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.
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01-16-2012, 08:53 PM | #87 |
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01-16-2012, 09:22 PM | #88 |
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Thanks for all the sarcasm, I post it on here to see if anyone has any suggestion for me. I did all the suggested. I try talking to the dealer and it didn't work, I called the cops when they try repoing my car and the cops said that it's a civil thing and they can't get involved. I called a lawyer and he said thats there's a case but it's gonna take a while but I have to sue the dealers. I have cash save up to buy my car, I have record from my bank that I withdraw the money but not all at once. I've bought my e92 couple years back the same way with $10k cash down and it was fine. Just this dealer's manager is shady an might of just pocketed my money.
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