Buying with 100% cold hard cash

[JP Chestnut]

Originally Posted by Etschell

it actually comes from the gold and silver coins back in the day.

now if he rolls in there with 800,000 pennies....

Of course. I was joking...

That would be a story that an AD would tell on his deathbed. I'd try to barter 800 pizzas.

[mjclark32]

Originally Posted by corn18

I just wrote a personal check for $39,649.12 to the BMW dealer.

Yup, saw the Ferrari dealer take one for a bit more than that.
Customer- "You want me to send you a wire or write you a check?"
Dealer- "check is fine"
They didn't even cash it for a month +

[KrismanX]

Wrist shots when it happens! Congrats in advance

[WAK4]

Negotiate the price without discussing method of payment. Then offer up cash for 2-3% more off.

They say no, go with the credit card route and get the cash back/rewards points.

[AshAP]

Originally Posted by TC94

I'll add my .02 worth. AMEX, pay full balance each month. Points, cash back, buyer's protection, sometimes extended warranty (not on a watch though) and much safer to carry around. No one has ever taken me less seriously because I'm not carrying a big wad of cash. Lose the cash? All gone. Lose the credit card? Toll-free call.

If you pull out an AMEX the dealer will just think you're a twat as the fees are the highest of any card issuer.


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[Etschell]

Originally Posted by AshAP

If you pull out an AMEX the dealer will just think you're a twat as the fees are the highest of any card issuer.


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mayors doesnt care. they tell amex what they will pay and amex says yes sir.

[AshAP]

To clarify...the point I'm making is that AMEX charge retailers a higher percentage of the transaction than any other card provider.


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[TC94]

Originally Posted by AshAP

If you pull out an AMEX the dealer will just think you're a twat as the fees are the highest of any card issuer.


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Hmmmm...

OK. Great. And yet I just got a bunch of frequent flyer miles for my 2 purchases, one of which was at a pretty good discount. I guess I could've just walked around on vacation with $30K in my pocket. Seems like a perfect plan.

[Etschell]

Originally Posted by AshAP

To clarify...the point I'm making is that AMEX charge retailers a higher percentage of the transaction than any other card provider.


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i know that but big businesses dont care, they can negotiate it down.

the old adage. if you owe the bank $100 the bank owns you. if you owe the bank $1 billion you own the bank.

[texasmade]

Originally Posted by corn18

To the OP, pay with a rewards CC. I pay for all my watches with a 2.5% unlimited cash back card. That's a nice discount. And I go in asking for a cash price and then ask if I can pay with a CC. Haven't had an AD yet ask for more to use the CC.

That's because it's against the law for a business to advertise a price and then charge a higher price for using a CC. They're only allowed to offer discounts for not using credit cards. That doesn't mean certain places follow the law all the time but technically they're not suppose to charge more for using a CC.

[Etschell]

Originally Posted by texasmade

That's because it's against the law for a business to advertise a price and then charge a higher price for using a CC. They're only allowed to offer discounts for not using credit cards. That doesn't mean certain places follow the law all the time but technically they're not suppose to charge more for using a CC.

then how do gas stations do it? this is a serious question.

[gtnator]

I'm not so sure about some of the comments above and would ask your AD first. Reason being when I bought my DSSD D-blue last year I told my AD that I wanted to "buy it cash". He said that's fine but that because the watch costs more than $10,000 it would be a big hassle to actually use cash and instead asked me to get a bank check (cash equivalent), which is what I did.

There is something about finance regulations and a $10,000 limit. I don't know anything more than this, but its enough information that I would at least ask, depending on the purchase price of the watch (if its greater than $10k).

[The Libertine]

Originally Posted by AshAP

To clarify...the point I'm making is that AMEX charge retailers a higher percentage of the transaction than any other card provider.


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So, if the retailer chooses to accept AMEX, that's their business decision.

AMEX is my personal card of choice. Am I to go around and determine what card I use based on fees they charge the retailer?

[Speed]

Banks have to report on $10,000 cash transactions. Even it you decide to be sly and try a $9,000 transaction or two @ $5,000 each... those still get reported because they are close to $10K.

I think the risk / disadvantages of carrying a stack of 100's (assuming USD) around in the US far outweigh any discount you'd get...or the benefit of looking "serious." Honestly.

The cash back programs / CC company protections outweigh throwing down the Benjamins.

[breitlings]

Originally Posted by Etschell

[TrajanACC]

I am in retail...to the best of my knowledge, Amex is 2.89% across the board, whether you're a tiny business or a huge one. Merchant services will negotiate down on other cc companies but not Amex. Which is why so many small businesses don't accept them.

[AshAP]

Originally Posted by TrajanACC

I am in retail...to the best of my knowledge, Amex is 2.89% across the board, whether you're a tiny business or a huge one. Merchant services will negotiate down on other cc companies but not Amex. Which is why so many small businesses don't accept them.

Maybe things have changed however I used to accept AMEX in my business and I also had AMEX cards both personally and on the business.

One day a well known local big shot (although now bankrupt) decided to pull out his AMEX Black card to settle the £14,000 he owed me. AMEX took £1000 of the 14k in fees and held my money for 30 days too. Perhaps I'm soft but I took this as AMEX taking the piss out of me so I stopped taking their cards and stopped using them altogether.


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[ivanos]

If Walter White buys a Rolex it must be paid in cash


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[dominic.warren]

Ha says "Pizza" huh I don't know. Ok all joking aside spend your money how you wish and congrats!!!

[Xerxes77]

I think no problem!

[Converted]

"Licensed Professional at JP Morgan"
You should know the 8300 reporting requirement.

[jakerusty]

Good for you using cash. Enjoy the Rolex.


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[hugs]

Originally Posted by Converted

"Licensed Professional at JP Morgan"
You should know the 8300 reporting requirement.

I don't think they have used cash in the stock market for several years now might even be decades.

[Calatrava r]

Originally Posted by TickTockChuck

Why the fistfull of dollars? Just deposit the cash in your bank account and pay in any number of conventional ways. You will get the same as cash deal. Legit earned money so no worries, right? Good luck in your first Rolex purchase. Cheers!

No truer words spoken. Cash raises fear of "money laundering" in todays world.

[Rocco21]

I buy everything with cash in hand,cars,watches etc... no ones business where it came from.Some ask and I say none of your business.

[justdate]

Originally Posted by Rocco21

I buy everything with cash in hand,cars,watches etc... no ones business where it came from.Some ask and I say none of your business.

Unfortunately it is the governments very business to know where that money came from and how much of it they can take from you!!!

[Jcy90]

Originally Posted by Dennis94

We're in Queens! John's Pizzeria in Elmhurst, come by. We've been around since 1965.

I will take you up on that!! Post photos when you get it!!

[Nairn1980]

All of my regular spending goes on Amex and I've reaped great rewards over the year despite not being a huge spender.

However I am quite friendly with a few ADs, and when I'm buying a watch (always with some level of discount) they request "anything but Amex". I always have other Visa/MasterCard etc so that's never a problem and in these situations I don't mind not using the Amex. They are independent businesses and not using Amex benefits us both.

However huge retailers who refuse Amex in the UK (B&Q, Toys R Us, Lego store etc) I choose to avoid and shop elsewhere as they have products I can easily find for same price (or cheaper) elsewhere and IMO they are being greedy by not accepting it. As a customer I then choose to vote with my feet.

[Converted]

Originally Posted by hugs

I don't think they have used cash in the stock market for several years now might even be decades.

In order to stand on that floor there are things you need to know about tax and fraud. They teach you a little about washing that "cold hard cash". And how to spot shit like that. Anyway

[lwrm23]

If its over 10K, $10,000.01, they will probably have you complete a CTR. Currency transaction report.