Going in with Cash Offer

[Raptor911]

I always attempt to use a credit card and but every dealership will only allow me to charge up to 5K and that's it. My last 7 purchases I have charged 5k. I earn some points and pay off the 5k in the next statement.

If you pay cash you can always pay with a credit card that gives you rewards, assuming you pay it right away obviously. Say you get ~80k points from it, you can use it towards your monthly balance so ~800-1k less you need to pay. Or you can redeem them in other ways making it worth a few thousand... Depends on the card you have. Free vacation if you do it right

 

[df4801]

Really Raptorguy?

Don't comment on things you don't know anything about.

A dealer could be charged $1500 credit card transaction fee on a raptor purchase. That's NOT a cost of doing business and NO dealer will allow it. End of discussion

 

[Trackar]

I know some dealers will take the hit of the fee since it's a tax deduction for them at the end of the day

 

[brettmess24]

I know some dealers will take the hit of the fee since it's a tax deduction for them at the end of the day

No you are dead wrong NO business can use merchant service fees as a tax deduction, I don’t know where you get these crazy ideas from.


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[Trackar]

No you are dead wrong NO business can use merchant service fees as a tax deduction, I don’t know where you get these crazy ideas from.


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I do it for mine, it's an expense that the business pays to the credit card company. That 2-3% taken per transaction is money that the business never sees, if it was not deductible the business would be paying tax on those 2-3% that never hit their pocket in the 1st place.

 

[brettmess24]

I do it for mine, it's an expense that the business pays to the credit card company. That 2-3% taken per transaction is money that the business never sees, if it was not deductible the business would be paying tax on those 2-3% that never hit their pocket in the 1st place.

You need a new accountant sir! Fees for services have nothing to do with “money business never sees” it’s not income, they are fees for services rendered. It’s a cost of doing business and it costs the dealership 1-3% monthly pending contract etc.


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[Trackar]

You need a new accountant sir! Fees for services have nothing to do with “money business never sees” it’s not income, they are fees for services rendered.


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Bad wording on my end, my apologies. Basically, it qualifies as a business expense. Anyways did not mean to thread jack, sorry OP!

 

[SilverBolt]

$80k is not “large bricks” but this would qualify OP for the ****** canoe of the year award as well as scream drug dealer. Pretty sure he would be asked to leave. Lol

Make sure you video tape this if this is the route you take!


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A "brick" is a bank bundle of 100 $100 dollar bills or $10k. Making the dealership uncomfortable is exactly the reason. If the cash is legit the buyer has nothing to worry about. Let them think whatever they want. Unless something has changed U.S. currency is still legal tender. Is it going to get you a better deal? Nope. Negotiate the price first.

 

[EricM]

If you want to have some fun. Negotiate your price and then start stacking bricks on the table. They will shit their pants looking at a large pile of dead presidents.

Meh. I look at both a $50K cashier's check and $50K cash as $50K. Unless I was trying to hide money from the government, large amounts of cash is just an unnecessary PITA. More liability and hard to carry around. It would in no way cause me to shit my pants if I worked at a dealer.

 

[8WOOD]

The only way you can make a cash deal work is to have the exact walk out amount you intend to pay. You just tell them what you have, show it to them and say take it or leave it. Then you dont have to play the haggle game. It works better at the end of a incentive cycle... so usually the last day of the month.