Monthly payment TRX?

timinnd

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The IRS. When you pay more than 10 grand in cash (or deposit into a bank) the retailer files a report on the cash to the gov.

That's what I was wondering. I'm aware of the rule. I've just never seen it put into play. Every vehicle I've bought...I've given them $9,900 in cash.

I've often wondered....if....a dealer would let you make a $9,900 cash payment ever month ahead of time... while your vehicle was on order.

Also what caused your audit...the withdrawal from bank I assume? Or was it the payment to dealership?
 

Bambi

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That's what I was wondering. I'm aware of the rule. I've just never seen it put into play. Every vehicle I've bought...I've given them $9,900 in cash.

I've often wondered....if....a dealer would let you make a $9,900 cash payment ever month ahead of time... while your vehicle was on order.
Theres something called “structuring” which is an attempt to avoid the reporting by doing what you describe. It’s also illegal. Depends how shady the place you are paying is if they would report.

It’s way easier just to use a bank like a law abiding citizen
 

Car-Guy

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The IRS. When you pay more than 10 grand in cash (or deposit into a bank) the retailer files a report on the cash to the gov.
It's called a CTR (Cash Transaction Report)... Banks, Car Dealers, Casinos (and others) deal with them everyday. I have had dozens of them filed on me every year for the last 6 to 8 years and never had any questions asked by anyone. Now, SAR's (Suspicious Activity Reports) are a different matter.... Basically that's the way a bank , etc, formally alerts the Fed's that something funny might be going on with "any" single transaction... So, a $9,900 transaction may trigger a SAR.
 
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Informal

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I’ve done both cashiers checks and wire transfers for these type of purchases. Either one is generally fine. You don’t go into the bank together though. And while I’ve had dealers take considerable personal checks for down payments, they would never take one for the whole balance.
In the early 90’s. I had a dipshit friend, who was jobless, show up at my Super Bowl party in a brand new Viper…. We were all like “How??”

He opened a new checking account, went to the ATM, filled out a slip that said he was depositing $60k or so…. Went to Dodge on Saturday, showed the guy in Finance his recent “deposit” and they let him drive away a $50k+ car… with just a worthless temporary hand written personal check….
Blew my fricking mind lol……. He drove the hell out of it for 2 weeks or so before they recovered it….and surprisingly , never even got arrested.
 

Andris

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In the early 90’s. I had a dipshit friend, who was jobless, show up at my Super Bowl party in a brand new Viper…. We were all like “How??”

He opened a new checking account, went to the ATM, filled out a slip that said he was depositing $60k or so…. Went to Dodge on Saturday, showed the guy in Finance his recent “deposit” and they let him drive away a $50k+ car… with just a worthless temporary hand written personal check….
Blew my fricking mind lol……. He drove the hell out of it for 2 weeks or so before they recovered it….and surprisingly , never even got arrested.
Wait that's how I got my TRX. Is this bad?
 

Normanpearson

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For everyone who owns a Ram TRX or is about to receive there 2022 TRX, what is? Or what was ur down payment and monthly payment once all set and done?
I put down 10 percent on 75000 75 month finance term 1000 a month went up 60 bucks with progressive a month with 5 other cars so there is mine
 

ajwaldorf

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So ur getting a loan from Bank of America of the amount of ur truck? To pay it off right away, or ur paying out of ur pocket money?
With interest rates so low right now why pay cash... Take a loan at 2-3% and let your money work for you.
 

Raven

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With interest rates so low right now why pay cash... Take a loan at 2-3% and let your money work for you.
Some of us here have plenty of money working for us already and don't care for debt. Different strokes for different folks.
 

DulcejuanDiaz

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With interest rates so low right now why pay cash... Take a loan at 2-3% and let your money work for you.
Kinda have to agree with your thinking. $75K can go towards a lot more than a pickup that will drop $8,000 the moment you drive it off the lot..... Stick that shit in investments and watch it grow. Stock market on fire right now.
 

timinnd

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Kinda have to agree with your thinking. $75K can go towards a lot more than a pickup that will drop $8,000 the moment you drive it off the lot..... Stick that shit in investments and watch it grow. Stock market on fire right now.

Often the folks that just have 80-90k to just plunk down on a pickup have done okay managing their money.
 
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ALJ

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Kinda have to agree with your thinking. $75K can go towards a lot more than a pickup that will drop $8,000 the moment you drive it off the lot..... Stick that shit in investments and watch it grow. Stock market on fire right now.

Some people do not like leverage, stock market goes down then what? If anything, you would want to find a higher yielding bond/fixed income, but again, to each his own.
 
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Bambi

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Some people do not like leverage, stock market goes down then what? If anything, you would want to find a higher yielding bond/fixed income, but again, to each his own.
Depends on your risk tolerance, financial position and ability to hold while riding out slumps.

I put my money in the market, crypto, collectibles, PM’s, real estate, businesses. Whats a high yield bond return? Last I checked they were worse than inflation. But if they are better than your loan interest, you are in the red.
 

Bambi

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Often the folks that just have 80-90k to just plunk down on a pickup have done okay managing their money.
Most people sure but there are plenty of people here making strategic financial choices which make no sense.
 

ActionDH

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Kinda have to agree with your thinking. $75K can go towards a lot more than a pickup that will drop $8,000 the moment you drive it off the lot..... Stick that shit in investments and watch it grow. Stock market on fire right now.

I agree with you, if you have the means and cash, I’ll take inexpensive debt, in less than 3 years I’ve easily made $20k on the cash invested while financing my M5 rather than buying outright from the start
 

TXWoody

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I hate to be the party pooper here but if you don’t know the answers to these basic questions you really should consider waiting until you have the financial experience and maturity before buying a $100k vehicle...
 

ALJ

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Depends on your risk tolerance, financial position and ability to hold while riding out slumps.

I put my money in the market, crypto, collectibles, PM’s, real estate, businesses. Whats a high yield bond return? Last I checked they were worse than inflation. But if they are better than your loan interest, you are in the red.
Just about every investment is not keeping up with inflation, cost of wood, metals, food is all going up by multiples. My point was you need to beat your car interest rate with assuming the least amount of risk. I'm not trying to come up with the answer, but people need high yielding short term bridge loans, and I have the background to draft Note Agreement so that's easy for me. Can secure it with any of the Borrowers assets. Another avenue is too look for SPACs trading at a 4% or greater discount.
 

Two

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Most people sure but there are plenty of people here making strategic financial choices which make no sense.
You mean like paying $8,000 every day for seven days straight to the finance company?
Hey, having a loan, sucky as it is, saved me some 5K. And once the three months are up and I can pay the car off, the interest paid will be less than $300.

Best of all, then the TRX will be mine.
 
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