Forum Discussion
jorbill2or
Jul 06, 2020Explorer II
Off topic but pertains to Pvt purchase via Cash. all cash Bank transactions withdrawals or deposits 10,000 or more are reported to the feds by Bank regulation and part of homeland security and of course watching for Drug transactions.
If Purchasing with a dealer unfortunately I disagree with cash being King. Cash is not king anymore unless it's some mom and pop operation. Much like a Car dealer (never say your cash to a car dealer until the deal is done) Dealers can make money off the financing and may take that into consideration on their "deal" dealers can get better rates than you and then equal or better the rates you can get at the same lender while they get the difference. A legit dealer will lower the price counting on that income to make it up , you win with a lower OTD price and the same financing rate you would get on your own. Just some food for thought if your a Dealer purchaser
If Purchasing with a dealer unfortunately I disagree with cash being King. Cash is not king anymore unless it's some mom and pop operation. Much like a Car dealer (never say your cash to a car dealer until the deal is done) Dealers can make money off the financing and may take that into consideration on their "deal" dealers can get better rates than you and then equal or better the rates you can get at the same lender while they get the difference. A legit dealer will lower the price counting on that income to make it up , you win with a lower OTD price and the same financing rate you would get on your own. Just some food for thought if your a Dealer purchaser
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