What's your favorite line used by a potential buyer when you're selling your car

[cadillac ken]

Favorite line:  "seems a little high, what you're asking"

My favorite response: "really? and how many Cadillacs of this make, year, and model have you looked at today?"

[z3skybolt]

I sold one of my airplanes at the OSH KOSH airshow 17  years ago. After closing the deal and training the purchaser in the airplane, the buyer said that he would only give me 3/4 the money now and the other 1/4 after he got the airplane home.  I said "no way".  He answered "that's the way that I do business".  I responded." Deal is off I'll  just put the FOR SALE sign back on the airplane".  Hours later he arrived with the asking price in cash.

I generally buy hi and sell low.  Paid too much for my LaSalle.  But that is one thing I will never part with unless offered far more than  I have in it.... which is double what it is worth. Cannot imagine that happening. If it did I go right out and buy two prewar Cadillac or LaSalle at today's depressed prices.

Happy Motoring.

Bob R.

[wrefakis]

What is your cash price?
I love the reaction when I inform prospect that I do not accept cash

[yachtflame]

Why would you not accept cash?

[Eric DeVirgilis CLC# 8621]

Some sellers won't. If you walk into a bank or try to board a plane with tens of thousands in cash, there could be problems to put it mildly.

[wrefakis]

no cash for 2 reasons
A= oldest game around dudes come in pay cash need title they leave next team comes in relieves you of the $
B= great way to dump bad $ buy cars then dealer has to go to govt and explain
C= morons that call think that they pay cash it lowers my cost? so most often a waste of time

[chrisntam]

In response to no cash on a car sale, how are the transactions being completed?

When I take cash for a car, the transaction takes place in the local bank.  Buyer puts the cash in front of the teller, teller runs it through the machine to be sure all bills are real, cash gets deposited and I hand over the title.

What is the problem of depositing a large amount of cash in a bank?  Is there a limit on how much cash a bank will accept?  I'm sure the bank has a form or something that's filled out to be sure the cash is not related to weed or some other illicit drug.

School me (us) in the ways of handling high value sales...

Found from a quick search:

When a cash deposit of $10,000 or more is made, the IRS requires the bank to complete Form 8300. This form reports any transaction or series of related transactions in which the total sum is $10,000 or more. So, two related cash deposits of $5,000 or more also have to be reported...

So what?  what we're doing is not illegal.  What am I missing?  I ain't skeered of form 8300.   

I see this as a potential issue:

If the money you’re depositing is stolen, either because you stole it or acquired stolen cash, they need to double check those numbers against any reports of cash robberies for their investigations.

[z3skybolt]

In response to no cash on a car sale, how are the transactions being completed?

When I take cash for a car, the transaction takes place in the local bank.  Buyer puts the cash in front of the teller, teller runs it through the machine to be sure all bills are real, cash gets deposited and I hand over the title.

What is the problem of depositing a large amount of cash in a bank?  Is there a limit on how much cash a bank will accept?  I'm sure the bank has a form or something that's filled out to be sure the cash is not related to weed or some other illicit drug.

School me (us) in the ways of handling high value sales...

Found from a quick search:

When a cash deposit of $10,000 or more is made, the IRS requires the bank to complete Form 8300. This form reports any transaction or series of related transactions in which the total sum is $10,000 or more. So, two related cash deposits of $5,000 or more also have to be reported...

So what?  what we're doing is not illegal.  What am I missing?  I ain't skeered of form 8300.   

I see this as a potential issue:

If the money you’re depositing is stolen, either because you stole it or acquired stolen cash, they need to double check those numbers against any reports of cash robberies for their investigations.

WHAT CHRIS SAID..........

[Bob Hoffmann CLC#96]

Guys,
The banks out here in Kalifornia are getting more chicken shxt every day. The reportable amount is down to maybe 3 K. Maybe less.  B of A is the worst. I used to pack thousands of dollars when going to Hershey. It's all about rampant crime which our gov'mint can't seem to curtail. Pretty sad!
Bob

[Scot Minesinger]

You can make multiple trips to the bank, days apart at different branches.

I get it, you are a car dealer, you cannot go to the bank every time.  I write checks to car dealers and they are pleased to take them.

If a purchaser and I agree on a price and they arrive with less and expect a last minute concession after the handshake, the deal is off.  Even if they later arrive with the agreed upon funds I'm done, do not trust them.  I always tell them this after we shake hands so they know how to get out of the deal later if they want to.

[cadillac ken]

on the cash thing... an event that actually happened to an acquaintance of mine:

He was selling a quad (four wheeler) for around $3000 (don't recall the exact price).  Two guys show up in a pick up truck to look at it.  They ask if the one guy can take it out for a spin while the other waits. The seller says fine, but only if we have a deal.  They agree on a price and the one guy counts out the hundred dollar bills.  Shortly after the transaction takes place the guy "test driving" the quad calls his buddy and tells him the quad quit on him.  The seller is stunned and says go get him and bring it back and I'll look at it figuring it can't be anything serious as my friend knows it's in great shape, good running condition.  Guy leaves and he never sees them again but figures what the heck good thing I got my money and they must have figured it out (something minor) and got it running.  My friend goes to the bank and tries to deposit the money.  Turns out only the top few bills are real.  The rest of the stack were counterfeit. The teller points to the serial numbers on every bill as the same.

I ask him how real did the bills look and he said being unsuspecting, they looked real enough.  Also he realized that the real hundred dollar bills were on the bottom of the stack so when the thief was done counting the two or three real hundred dollar bills were on top.

No title, no info on the guys-- people wonder why everyone is so cynical these days.

[Eric DeVirgilis CLC# 8621]

Guys,
The banks out here in Kalifornia are getting more chicken shxt every day. The reportable amount is down to maybe 3 K. Maybe less.  B of A is the worst. I used to pack thousands of dollars when going to Hershey. It's all about rampant crime which our gov'mint can't seem to curtail. Pretty sad!
Bob

To make matters worse, the reportable cash transaction amount of $10,000 has remained unchanged in 50 years. (That's over $66,000 in todays funds).

You can make multiple trips to the bank, days apart at different branches.

I don't agree with it but that's called "structured payments/deposits" which can land you in big trouble. Just ask Dennis Hastert.   

[chrisntam]

According to the web:

Exceptions to the $10,000+ rule that could spell trouble:

The only time you should worry about depositing more than $10,000 in cash is not in how much you deposit -- but how you deposit it. Two scenarios:

•Deposit $10,000 as a lump sum
•Split up the money into several smaller deposits, say one for $5,000, one for $3,000 and
  one for $2,000

Splitting up your large cash deposits could spell trouble. Why? It’s the same amount, only in smaller denominations and more frequent deposits. In the end, it’s the same money. But, the bank might not look at it that way.

They may assume, rightfully or wrongfully, that by breaking down and “structuring” your deposits this way, you’re deliberately and knowingly trying to circumvent the Bank Secrecy Act and the bank’s CTR process.

[chrisntam]

No one has chimed in on how big money changes hands.

Wire transfer?  --->  is that a secure way to receive money and know it's good to release the car and title right away?

Check (personal or cashiers)  -->  Let the funds clear (how many days?) then release the car and title?

I'm not a Big Rolla', so I don't know.  Feel free to share your experience so us little guys can learn.

[wrefakis]

I like checks or wire period

[Jeff Rosansky CLC #28373]

The $10k deposit thing is to prevent money laundering and now to also prevent money from being funded to terrorist organizations.  The tellers have to fill out a form even if they suspect you are staggering the deposits. True, if you go to different branches of the same bank you would avoid the teller recognizing you-But you still risk being found out.  The computers ID deposits that are out of the ordinary for review. And your deposits could also be flagged in an audit so you would have some explaining to do. Nothing illegal about it, you would just have to answer some questions. If your story doesn't make sense then they will investigate further. That is what I remember from a training course I took once.
It is just the world we live in now.
Jeff

[chrisntam]

I like checks or wire period

When do you release the car & title?

[wrefakis]

good funds cleared in bank

[harry s]

Here are some other considerations. Regarding the bank's reporting cash transactions, this information is available to the IRS. In most cases when depositing checks into your bank account you are given access to those funds within a day or two as required by law. However it is still possible for those checks to be returned due to fraud, endorsements and other reasons. As the recipient and depositor you are responsible.
Harry

[ratpin]

"I saw one sell for x-amount on ebay"