Second hand - cash

suicide_circus

when buying a second hand car, is paying the lot in cash upfront still a bargaining chip to haggle for a discount?

punisher5112

suicide_circus wrote: »

when buying a second hand car, is paying the lot in cash upfront still a bargaining chip to haggle for a discount?

Really depends on who's the seller.

Most want cash or bank draft if genuine of course.

I've gone into the bank with the buyer just to be sure it's real.

suicide_circus

like if you saw a car you fancied for 10k and went in to the dealership and put 9k in a big wad of 50s on the fellas desk....

colm_mcm

The only situation where that would be of benefit is if the salesperson or owner wasn’t paying tax or otherwise wanted to hide the sale.
Would you want to buy a car from someone like that?

Cash is a pain for a legitimate business these days.

Worth pointing out that asking prices often contain some discount waiting to be chipped away. Best to determine what the car is actually worth vs similar cars and go from there

punisher5112

I've bought from the UK numerous times, cash wash preferred but also used plastic on few occasions no issues and if it's a main dealer a bank transfer could be an option to.

suicide_circus

yeah I suppose. have seen some adds with "cash price" in the description though so not sure what that implies

punisher5112

suicide_circus wrote: »

yeah I suppose. have seen some adds with "cash price" in the description though so not sure what that implies

No trade ins that would be as they would rise the price of not a straight deal.

suicide_circus

punisher5112 wrote: »

No trade ins that would be as they would rise the price of not a straight deal.

Ah ok makes sense

darragh o meara

punisher5112 wrote: »

I've bought from the UK numerous times, cash wash preferred but also used plastic on few occasions no issues and if it's a main dealer a bank transfer could be an option to.

Last few UK cars I’ve bought, I found it very hard to pay in cash. I now use one of transfer companies which saves a lot of hassle.

But for the OP, if your buying a car for small money then cash is probably best if your comfortable carrying it, otherwise make alternative arrangements once the deal is done. I wouldn’t be happy taking anymore than 2/3 grand in cash unless I really had too, much prefer a bank transfer which is more secure. You should still be able to haggle and pay that way as most people will just lodge the money afterwards anyway.

cajonlardo

Recently bought a car from a local dealer for 11000.
He actually made a point that he wouldn't be able to accept cash.

okidoki987

Isn't there a money laundering problem with large amounts of cash in the motor trade?
There's no paper trail and they need to have one to avoid Customs/Revenue/CAB on their backs.

darragh o meara

okidoki987 wrote: »

Isn't there a money laundering problem with large amounts of cash in the motor trade?
There's no paper trail and they need to have one to avoid Customs/Revenue/CAB on their backs.

Not to mention the security risk of having that kind of cash in site and someone knowing it’s there... Last time I made a big purchase in cash the seller made me come to his bank and lodge the cash into his account before completing the sale.

punisher5112

I use to be in the trade helping out and the guys could have 50 to 150k sitting on their coffee table.

They still like certain deals in cash like any business.

mgbgt1978

darragh o meara wrote: »

Not to mention the security risk of having that kind of cash in site and someone knowing it’s there... Last time I made a big purchase in cash the seller made me come to his bank and lodge the cash into his account before completing the sale.

Probably to avoid the risk of being stuck with a load of dodgy €50's.....rather than a security risk.
Not saying that you were passing off iffy €50's Darragh , just that once the cash was lodged it wasn't the Seller's problem/risk after that.