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Why do people think “paying cash” gets them deals?
Posted on 12/1/24 at 8:13 am
Posted on 12/1/24 at 8:13 am
I see a lot of people, especially boomers, think saying “cash money” or “pay you in cash” gets them some kind of unrealistic discount. Where is this coming from?
A car deal for instance, whether the buyer pays cash or financing for 100 years, the seller is still getting the total asking price up front.
Maybe this works when paying for labor because the guy getting paid can pocket it without taxes
A car deal for instance, whether the buyer pays cash or financing for 100 years, the seller is still getting the total asking price up front.
Maybe this works when paying for labor because the guy getting paid can pocket it without taxes
78
Posted on 12/1/24 at 8:14 am to Jack Daniel
People think that because it many instances paying cash gets you a better deal.
Posted on 12/1/24 at 8:16 am to Jack Daniel
It would allow the seller to potentially avoid taxes through keeping it off the books and also not having to pay any fee with a credit card
Posted on 12/1/24 at 8:16 am to Jack Daniel
Depends on the industry.
Don’t have to report cash. Also, once upon a time it was easy for a person to skim money off the top.
Don’t have to report cash. Also, once upon a time it was easy for a person to skim money off the top.
Posted on 12/1/24 at 8:16 am to BPTiger
quote:
because it many instances paying cash gets you a better deal.
Not on automobiles. Dealers would much rather you finance than pay in cash.
Posted on 12/1/24 at 8:16 am to Jack Daniel
I kinda understand cold hard cash. I don't understand why so many people want to "trade" for something. Other than being nostalgic, one party is almost certainly going to get the short end.
Posted on 12/1/24 at 8:16 am to Jack Daniel
My mechanic and tire guy both prefer cash.
Saves me the sales tax.
I’m not mad.
‘Merica!
Saves me the sales tax.
I’m not mad.
‘Merica!
Posted on 12/1/24 at 8:16 am to Jack Daniel
quote:
A car deal for instance, whether the buyer pays cash or financing for 100 years, the seller is still getting the total asking price up front.
Holy shite you're stupid. How much extra are you paying than the total price for the car if you finance it for 100 years?
This post was edited on 12/1/24 at 8:26 am
Posted on 12/1/24 at 8:17 am to Jack Daniel
Paying cash at some gas stations will get you a discount of 5 cents per gallon. It is not much but adds up over time.
Posted on 12/1/24 at 8:17 am to Jack Daniel
quote:
think saying “cash money” or “pay you in cash” gets them some kind of unrealistic discount
Not unrealistic... but there are tons of businesses out there that give cash discounts.
Posted on 12/1/24 at 8:18 am to Jack Daniel
I’ve routinely gotten better deals in all aspects of life by paying cash or having cash on hand.
It’s an easier deal and final. Also for various services the seller or provider can keep it off the books.
It’s an easier deal and final. Also for various services the seller or provider can keep it off the books.
Posted on 12/1/24 at 8:19 am to Jack Daniel
The only time it's mattered for me are jobs around the house - tree work etc and it's because they aren't paying taxes. Not my problem though if it saves me a few hundred.
Posted on 12/1/24 at 8:19 am to Jack Daniel
Maybe that's from way back in the day when there was just cash and checks. If you were selling something you run the risk of a check bouncing? I've always wondered about the cash deal myself. Now, if I'm selling something and a baw shows up to look at it and tries to knock 5 or 10 bucks off with the cash in his hand, I'll probably just say frick it and take the cash for the instant, be done with it, sale
Posted on 12/1/24 at 8:20 am to Jack Daniel
Because it does get them deals as it usually saves on sales tax and/or CC fees. Your example of cars isn’t a good one, agreed that dealerships would prefer financing. Most small businesses tho will provided a discount for cash
Posted on 12/1/24 at 8:26 am to TigerTatorTots
Some gas stations give you a 10 cent/gallon discount for cash.
Posted on 12/1/24 at 8:26 am to Jack Daniel
quote:
Maybe this works when paying for labor because the guy getting paid can pocket it without taxes
Probably so. I’m saving $1,000 in a weekend or two by paying cash for a new AC unit.
Posted on 12/1/24 at 8:28 am to Jack Daniel
My FFL dealer only accepts cash.
Posted on 12/1/24 at 8:32 am to Jack Daniel
cash, grass, or arse. nobody rides for free.
Posted on 12/1/24 at 8:35 am to KLSU
quote:
Not on automobiles. Dealers would much rather you finance than pay in cash.
The deals are private party. Act of donation at the title place and transfer the ownership without paying taxes.
Posted on 12/1/24 at 8:38 am to KLSU
quote:
Not on automobiles. Dealers would much rather you finance than pay in cash.
Let’s say you buy a new vehicle. For the sake of simple math, let’s say the total price with taxes and fees is $50,000.00. If you pay cash, then you’re out of pocket $50,000.00. If you finance, then you’ll pay interest over the life of the loan. Again, for simple math, let’s say you finance the car for 5 years at 5% interest. By the time you’ve paid off the loan, you’ll have paid $56,613.70.
So, by paying cash instead of using cress it, you will pay an additional $6,613.70 when all is said and done. That’s what dealerships want you to finance your auto, specifically through their financing.
This post was edited on 12/1/24 at 8:40 am
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