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realspeed
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South coast
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28-12-2019, 09:30 PM
1

car buying for cash

following on from the subject of banking, have you ever tried buying a car for cash? you can only go up to about £7000 as a deposit , the remainder is like the Spanish inquisition.

where did the money come from- can you prove it - is it actually your money and so it goes on. So you write out another cheque for the balance and it has to be cleared by the bank after another inquisition.

Ok not everyone can splash out £30,000+ on a new car, but you are treated more as a criminal with dubious means then an honest customer.

Years ago if you went into a car showroom with that kind of money you were treated like royality .

Now when you go in the first thing asked you are buying on the HP this is the interest rate over x no of years. That really pisses me off and shows pure ignorance as to customers finances

every time we have bought a new car it is the same, right back to getting a new Volvo 240 estate many years ago.

Then I was told by the salesman"Come back sunny when you have the money" bloody cheek, didn't even bother to ask if i had the cash, which i did from an inheritance


Having cash now is a dirty word and people don't understand that some of us like to pay "up front" for the goods we buy.

Our motto is "if you can't afford it then don't get it"
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Omah
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Ludlow
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28-12-2019, 10:12 PM
2

Re: car buying for cash

Well, bagfuls of mixed denomination banknotes do lend themselves to suspicion .....
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bakerman
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Mexico
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29-12-2019, 03:11 AM
3

Re: car buying for cash

With drug dealers having vast amounts of cash, and the government needing to keep tabs on illegal cash, it makes it difficult for all of us. Blame the DRUG DEALERS !
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Bruce
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29-12-2019, 05:04 AM
4

Re: car buying for cash

Originally Posted by bakerman ->
With drug dealers having vast amounts of cash, and the government needing to keep tabs on illegal cash, it makes it difficult for all of us. Blame the DRUG DEALERS !
The Federal Government is talking about limiting cash transactions to $10000 here. It hasn't happened yet because of outrage.

However it is not just drug dealers that have brought cash into disrepute. Westpac, one of our big four banks, is being prosecuted for 23 MILLION breaches of the anti money laundering law. Each breach carries a penalty of up to $63,000

The Australian Transaction Reports and Analysis Centre (AUSTRAC) requires organisations that handle big amounts of money, such as banks and casinos, to monitor transactions and report suspicious ones.

AUSTRAC expects each organisation to identify patterns of risky transactions, such as third parties undertaking transfers to and from accounts for no apparent reason, or regular international funds transfers to high-risk jurisdictions.

AUSTRAC claims Westpac failed to appropriately assess transactions to the Philippines and South East Asia that have known financial indicators relating to potential child exploitation risks.

Westpac is also accused of failing to understand and monitor transactions of money from its accounts to small intermediary banks located in countries where terrorist organisation are known to operate.

Cash is definitely on its way out.
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bakerman
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29-12-2019, 06:50 AM
5

Re: car buying for cash

Hmm. I can't imagine why there would be any outrage. If someone has completely legal funds, no matter how great the amount, it is quite a simple matter of obtaining a cashiers check from the bank. It may be different in Britain, but here in the U.S. when someone wants to pay for an item with vast amounts of cash, he/she is automatically suspected of illegal activities.

Heck, even if someone pays for an airline ticket with cash, (possible terrorist) Homeland Security is automatically notified and that person is flagged for special attention. We, in the U.S., pay for most items with a bank card. (a debt card does NOT carry any interest rate). I, personally, carry very little cash, only enough to pay for a taxi or a few items at the grocery store. All of the rest of my cash is in the bank. I can't imagine why I would ever need to pay for a car with cash or even to make a deposit on that car.

When I sold my house, I would have been most suspicious if the fellow wanted to pay in cash and I would have, at least, discussed it with my bank. Very likely I would have refused to accept several hundred thousand USD in cash, for I would have been certain that the buyer was attempting to "launder" his money. If I had actually accepted that much cash, then deposited it in the bank, I feel certain that the Internal Revenue Service would have immediately wanted to question ME. In such a case, I would have become a suspect.
swimfeeders
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29-12-2019, 07:14 AM
6

Re: car buying for cash

Hi

Pay for it on your debit card, no problems then.
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bakerman
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29-12-2019, 07:26 AM
7

Re: car buying for cash

Originally Posted by swimfeeders ->
Hi

Pay for it on your debit card, no problems then.
Oh, I do. But I still don't get why there are some people in Britain who are outraged over having a limit on cash purchases. Seems like a reasonable law to me.
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Primus1
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York
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29-12-2019, 10:04 AM
8

Re: car buying for cash

Take out the finance from the dealer, then ring up the finance company and ask for a settlement figure, then pay it off, ...
Donkeyman
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Melton,United Kingdom
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29-12-2019, 12:40 PM
9

Re: car buying for cash

Originally Posted by bakerman ->
Oh, I do. But I still don't get why there are some people in Britain who are outraged over having a limit on cash purchases. Seems like a reasonable law to me.
I think what most people object to Bakerman is being forced to
borrow money and paying interest unecassarilly?
Another gripe l personally have with banks is when transferring
relatively large sums from country to country via what is called
your personal allowance, banks charge an imo excessive fee to
cary out this service, it seems like a lot of vultures lining up to
feast? When it seems large corporations and super rich can transfer
billions in one shot with impunity?
Regards Donkeyman!
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29-12-2019, 12:41 PM
10

Re: car buying for cash

Originally Posted by realspeed ->
following on from the subject of banking, have you ever tried buying a car for cash? you can only go up to about £7000 as a deposit , the remainder is like the Spanish inquisition.

where did the money come from- can you prove it - is it actually your money and so it goes on. So you write out another cheque for the balance and it has to be cleared by the bank after another inquisition.

Ok not everyone can splash out £30,000+ on a new car, but you are treated more as a criminal with dubious means then an honest customer.

Years ago if you went into a car showroom with that kind of money you were treated like royality .

Now when you go in the first thing asked you are buying on the HP this is the interest rate over x no of years. That really pisses me off and shows pure ignorance as to customers finances

every time we have bought a new car it is the same, right back to getting a new Volvo 240 estate many years ago.

Then I was told by the salesman"Come back sunny when you have the money" bloody cheek, didn't even bother to ask if i had the cash, which i did from an inheritance


Having cash now is a dirty word and people don't understand that some of us like to pay "up front" for the goods we buy.

Our motto is "if you can't afford it then don't get it"


A good motto, if you are one of the lucky ones of course.
 
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