Do car dealers not accept full payment in cash?
I heard the car dealers will refuse the sale if youre paying in cash for the full amount because they make money in the interest from monthly payment.
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WindTherapy · 56-60, M
When you say "paying cash" are you talking a stack of 100 bills, or writing a check? If it's actual 100's I doubt they could refuse but it may draw some suspicion. I bought a truck last summer and it was a write a check deal and there wasn't any issue here. But dealerships are often involved with lending institutions and I'm sure they probably get a little kickback from them. So I'm sure they try and steer buyers to borrow from certain lenders. But I doubt they would refuse a sale.
Thirstymiami · 46-50, M
@WindTherapy they will take cash but by law have to report any amount over..
ChipmunkErnie · 70-79, M
@WindTherapy Heck, my heart specialist and the local hospital refuse cash AND checks in person, will only accept credit cards.
WindTherapy · 56-60, M
@ChipmunkErnie Yep same with mine. When covid hit many places wanted contactless payments. As a side benefit they don't have to audit and make sure cash payments are being properly deposited. So I can see the benefit for those providers.