When people say they "pay cash" for a car...

[Anonymous]

I hear people say they are paying cash for cars, but it sounds so strange. Does that mean they are walking into the car dealership ship and a box full of money?

[Anonymous]

you write a check

[Anonymous]

Anonymous wrote:I hear people say they are paying cash for cars, but it sounds so strange. Does that mean they are walking into the car dealership ship and a box full of money?

Pay in full by check, no loan.

[Anonymous]

It means no financing. Write a check, certified funds, etc.

[Anonymous]

Most, if not all dealerships will not take a large amount of physical cash. Cash buyers are paying by check and not taking out a loan. The same is true when someone pays cash for a house. It just means they didn't need to take out a mortgage.

[Anonymous]

If you lay mote than$10k in cash bills they have to fill out extra paperwork for money laundering laws. Annoying for the dealer but not a big deal.

To address your question, no people do not bring boxes of cash into a car dealership. They write a check, send a wire, or put it on a credit card.

[Anonymous]

Usually certified check from bank.

[Anonymous]

Anonymous wrote:If you lay mote than$10k in cash bills they have to fill out extra paperwork for money laundering laws. Annoying for the dealer but not a big deal.

To address your question, no people do not bring boxes of cash into a car dealership. They write a check, send a wire, or put it on a credit card.

Most don’t allow full payment with credit card.

[Anonymous]

We always pay cash for cars, which means we don't finance them. No car payment.

But no, we don't take literal cash in. At this point we don't even do the whole certified check thing -- we call our bank ahead of time and they authorize the charge.

We also usually ask how much the dealership will allow us to put on a credit card and max that out so that we can get airline miles out of it. But we pay it off immediately.

[Anonymous]

Anonymous wrote:Usually certified check from bank.

Why? Why not just cut a regular check? That’s all we’ve had to do to pay for cars that cost between $55k and $75k. Is there something I’m missing?

[Anonymous]

I bring a cloth sack with a dollar sign on it like the cartoons

[Anonymous]

Silver suitcase with stacks of wrapped dollars

[Anonymous]

Anonymous wrote:I hear people say they are paying cash for cars, but it sounds so strange. Does that mean they are walking into the car dealership ship and a box full of money?

Yes and when people pay cash for a house they bring millions of $1 bills

[Anonymous]

Anonymous wrote:

Anonymous wrote:Usually certified check from bank.

Why? Why not just cut a regular check? That’s all we’ve had to do to pay for cars that cost between $55k and $75k. Is there something I’m missing?

A personal check could bounce. A certified check carries a guarantee from the bank that the funds are available and set aside to cover this specific transaction.

[Anonymous]

Was this question written by a 5 year old?