Selling a car for cash?

[68BabyBlue]

Even merchants are required to report cash payments over $10,000. Pay cash for your new or used car and the dealer will be telling the feds.
They’re making it harder and harder for an honest man to spend his hard earned cash. Only crooks know how to manage large amounts of cash without drawing government attention!

And lawyers. I was one. The best deals on the best cars happen this way. The lesser stuff gets tracked on radar. The real estate agent who sold me my first house told me this 40 years ago.

 

[Cranky]

I do cash or USPS money order. If the person screws up on the MO, it's a federal offense. Still prefer cash though. Stash it away in the safe. Registration prices, at least here, are set by the purchase price. I "bought" my wagon for $1500.00. Am going to help whoever buys my truck with similar "purchase" price. I'm getting nailed for $500 per year on my 20+ year old truck since it was based off the purchase price plus the PRC added more over time.

Last time to take a USPS MO, it was for 450 bucks and it took me 3 times to catch the PO with money to cash it. Screw that mess.

 

[XS22J8R]

Last time to take a USPS MO, it was for 450 bucks and it took me 3 times to catch the PO with money to cash it. Screw that mess.

Last time I got one, it was for only $25 or $30, and my post office couldn’t cash it. I then deposited it at the bank no problem.

 

[Dave6T4]

I worked with a guy that did not like banks. He cashed his paychecks, and put his $$$ in capped iron pipes, which he buried on his property. Whenever he needed to make a "withdrawal" he brought out his metal detector.

 

[68BabyBlue]

I worked with a guy that did not like banks. He cashed his paychecks, and put his $$$ in capped iron pipes, which he buried on his property. Whenever he needed to make a "withdrawal" he brought out his metal detector.

Local trucking company owner did the same, only used a safe. Paid cash for his equipment, never trusted banks. Depression guy. It was a major headache for his heirs after he passed, and had to deal with $17 million in cash.

 

[Cranky]

Last time I got one, it was for only $25 or $30, and my post office couldn’t cash it. I then deposited it at the bank no problem.

My credit union didn't want anything to do with it!

 

[Richard Cranium]

Local trucking company owner did the same, only used a safe. Paid cash for his equipment, never trusted banks. Depression guy. It was a major headache for his heirs after he passed, and had to deal with $17 million in cash.

That's not a terrible problem to have.

 

[Davefinan]

Cash is king, bank wire is next and I always move the deposit to another account directly after it is received. I took a cashiers check for my Charger only because it was issued to me by a national bank where I had a local branch and the seller and I went to when he came to pick up the car to ensure it was legit.

That account you move it to should be in another bank institution because as I said , if it’s in the same bank , they can get their hands on it. That is what the bank manager told me and that is what I did.

 

[Davefinan]

That account you move it to should be in another bank institution because as I said , if it’s in the same bank , they can get their hands on it. That is what the bank manager told me and that is what I did.

I was probably lucky to have such an honest guy for a bank manager.