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Paying for special order/ Cash( actual green ) , credit card, regular bank check, combo?

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Paying for special order/ Cash( actual green ) , credit card, regular bank check, combo?

  #1  
Old 11-14-2018, 09:44 AM
spleeft
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Paying for special order/ Cash( actual green ) , credit card, regular bank check, combo?

Hello,
I'm seeking advice on any, none or some of the following.
I'm about to go pickup my special order SD. I want to just pay cash and get it over with, I'm pretty sure there is a Ford Finance Incentive deal which I will do ( minimum amount whatever that is) and just pay that off the first month. I also have actual cash on hand that I want to use but I'm not sure how much I can do without sending up any IRS flags, anyone know anything about that? I think I heard $10k or $9,999 keeps me flying under the radar. I'm not sure the dealership will take a credit card, but if I pay say 15k with the CC it will give me a few plane tickets ( of course I'll just pay that off the next day or when ever it posts ). And my bank says I can write a personal check for any amount I wish no problem.
Any advice appreciated
 
  #2  
Old 11-14-2018, 10:04 AM
BowtieConvert
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I'm sure they would rather have a cashier's check than a grocery bag full of Franklins or personal check. We have made cash deposits in the past in excess of $10k and there is some paperwork involved with that. I would talk to the dealer and ask them about payment options, credit card, check, cashier's check, or a combination of the three.
 
  #3  
Old 11-14-2018, 10:28 AM
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I tried paying with a Cc and they said no because of the finance charge. You can write a personal check for whatever you want. Itís depositing your money that becomes a pain.
 
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Old 11-14-2018, 10:30 AM
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My deposit of $1000 was on my credit card. The remainder was a personal check. They didn't blink an eye at that but the money was out of my account before I left the finance office.

I doubt they will let you put more than a couple thousand on a credit card. The fees they get charged make it a bad deal for them.
 
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Old 11-14-2018, 10:33 AM
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I usually just write a personal check and the dealers are fine with that. You won't get the title until your check clears anyway. Even if writing a check they will likely make you fill out a credit app and will run your credit to verify who you are. At least that's what I had to do on my last two vehicle purchases.
 
  #6  
Old 11-14-2018, 10:37 AM
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No deposit was required when I ordered mine. I used ford's finance incentive, wrote a check for about half the cost, and I made the first payment when it was due. Once that cleared I got a payoff amount and cut the check. I've done that several times and never got a visit from the revenuer's.
 
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Old 11-14-2018, 10:41 AM
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They were fine to drive me over to Wells Fargo on the other side of the highway while I went in for a cahshier's check for the full amount. No problem at all. Still waiting on the title though. It might have been good to have a financed portion that I paid off after everything was in order, just to have a bank on my side in case there is any trouble getting the title.
 
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Old 11-14-2018, 11:43 AM
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Originally Posted by spleeft View Post
Hello,
I'm seeking advice on any, none or some of the following.
I'm about to go pickup my special order SD. I want to just pay cash and get it over with, I'm pretty sure there is a Ford Finance Incentive deal which I will do ( minimum amount whatever that is) and just pay that off the first month. I also have actual cash on hand that I want to use but I'm not sure how much I can do without sending up any IRS flags, anyone know anything about that? I think I heard $10k or $9,999 keeps me flying under the radar. I'm not sure the dealership will take a credit card, but if I pay say 15k with the CC it will give me a few plane tickets ( of course I'll just pay that off the next day or when ever it posts ). And my bank says I can write a personal check for any amount I wish no problem.
Any advice appreciated
I put 5k down on CC and plan to put another 10k on it when it arrives. I get 1% back when I use my CC so it made sense to me to go that route. My dealership had no issues with me putting whatever amount I wanted on the CC.
 
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Old 11-14-2018, 12:27 PM
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Paid for mine with a personal check and the dealer was fine with that. A large purchase like that doesn't alert the IRS or anyone else, only when making bank deposits that exceed certain amounts.
 
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Old 11-14-2018, 12:28 PM
RandyinTN
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Not sure why you are trying to make an easy process a difficult one.
Ask your dealer what is the most you can charge then pay the balance with a personal check.
End of story.
 
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Old 11-14-2018, 12:35 PM
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Originally Posted by clewis7951 View Post
I put 5k down on CC and plan to put another 10k on it when it arrives. I get 1% back when I use my CC so it made sense to me to go that route. My dealership had no issues with me putting whatever amount I wanted on the CC.
They're paying an average of 3% for every credit card transaction. They're fine if you put $75,000 on a credit card? That's $2,250.00. No way they are fine with that.
 
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Old 11-14-2018, 12:37 PM
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Originally Posted by roadpilot View Post
They're paying an average of 3% for every credit card transaction. They're fine if you put $75,000 on a credit card? That's $2,250.00. No way they are fine with that.
Im putting 15k on my card and they already Ok'd that. I dont roll deep enough to have a card that puts much more than that on it!
 
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Old 11-14-2018, 12:37 PM
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Originally Posted by clewis7951 View Post
I put 5k down on CC and plan to put another 10k on it when it arrives. I get 1% back when I use my CC so it made sense to me to go that route. My dealership had no issues with me putting whatever amount I wanted on the CC.
Then you WAY over paid for the truck, lol.
 
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Old 11-14-2018, 12:38 PM
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Originally Posted by blueglide View Post
Paid for mine with a personal check and the dealer was fine with that. A large purchase like that doesn't alert the IRS or anyone else, only when making bank deposits that exceed certain amounts.
That isnt true....you spend big cash like that too much and the IRS will notice. There arent any forms like the bank requires, but trust me they see big cash spending patterns......especially from a person that is paying tax on a small amount of money.
 
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Old 11-14-2018, 12:41 PM
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Originally Posted by RandyinTN View Post
Then you WAY over paid for the truck, lol.
1000 under invoice seemed pretty good to me for a custom order from the factory at this time of the year. I went to 4 different dealerships and it was the best price I could get. Not to mention this dealership also offered me more for my trade that any of the others.
 

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