what exactly is a cash deal?

MargeS

This may seem obvious to most but I've never been 100% certain.

If you buy a car in a cash deal (with a dealer) does that mean you are giving him; paper money, bank draft, cheque, credit card or laser card VS a finance deal where the dealer doesn't get full payment up front?

colm_mcm

It generally means no trade in involved

Mycroft H

MargeS wrote: »

This may seem obvious to most but I've never been 100% certain.

If you buy a car in a cash deal (with a dealer) does that mean you are giving him; paper money, bank draft, cheque, credit card or laser card VS a finance deal where the dealer doesn't get full payment up front?

Paper or bank draft IMO. Quick deal in other words.

Damokc

A cash deal is the way a car dealer avoids paying all the tax on the money which he sells the car for....:rolleyes:

bazz26

In the motor trade a "cash" or "straight" deal means you buy the vehicle outright at a discounted price with no part exchange. It doesn't actually refer to the method of payment.

AltAccount

Damokc wrote: »

A cash deal is the way a car dealer avoids paying all the tax on the money which he sells the car for....:rolleyes:

That's just stupid

Big Nasty

Damokc wrote: »

A cash deal is the way a car dealer avoids paying all the tax on the money which he sells the car for....:rolleyes:

To be fair years ago it would have meant the above but these days it more likely means this:

bazz26 wrote: »

In the motor trade a "cash" or "straight" deal means you buy the vehicle outright at a discounted price with no part exchange. It doesn't actually refer to the method of payment.

MargeS

so it refers to no trade in... ok, txs!

Damokc

Jesus Christ...don't cry over it.

colm_mcm

Huh?

Anan1

Damokc wrote: »

Jesus Christ...don't cry over it.

He's educating you, i'd take the lesson with good grace.;)

Damokc

Anan1 wrote: »

He's educating you, i'd take the lesson with good grace.;)

So your saying it doesn't happen.

ProudDUB

I bought a used car 2 weeks ago. Paid for it with a bank draft, which is as good as cash. They don't take checks. As they are are a smallish operation they are not set up to take plastic, which would mean merchant/bank fees on their end.

Got a numbered invoice stamped with the dealers VAT and tax ID. Also got a 3 months warranty in writing.

Cash sales don't always mean under the table, take it or leave it, tax avoidance schemes.

Anan1

Damokc wrote: »

So your saying it doesn't happen.

A cash deal is a deal done with no trade in, that's all. It has nothing to do with the payment method, and therefore no bearing on whether or not the dealer pays tax.

Farmer Pudsey

Anan1 wrote: »

A cash deal is a deal done with no trade in, that's all. It has nothing to do with the payment method, and therefore no bearing on whether or not the dealer pays tax.

Unless you do a real cash deal

Anan1

Farmer Pudsey wrote: »

Unless you do a real cash deal

You're being fooled by the word 'cash'. Like we keep telling you, a cash deal is simply a deal with no trade-in.

Farmer Pudsey

Anan1 wrote: »

You're being fooled by the word 'cash'. Like we keep telling you, a cash deal is simply a deal with no trade-in.

Believe you me I understand completly the meaning of the word a cash deal there is a cash deal and then there is a cash deal one you do with a saleman and the other you do with the owner of a garage

AltAccount

You're confusing "cash deal" with "paying with cash"...

knifey_spoonie

Damokc wrote: »

So your saying it doesn't happen.

So are you saying that any dealer who is advertising a car cash sale, is going to defraud the state of tax revenue. That's quite a brave statement about car dealers.