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re: Why do people think “paying cash” gets them deals?
Posted on 12/2/24 at 9:44 am to artompkins
Posted on 12/2/24 at 9:44 am to artompkins
quote:
If you are buying 60s to 71 muscle cars cash is still king.
I have know idea how this inane thread is getting this much mileage
0
Posted on 12/2/24 at 9:56 am to Jack Daniel
Because it does, just last week I put new tires on my vehicle. Was quoted at 1450, asked what the cash price was $1200.
Posted on 12/2/24 at 10:00 am to Jack Daniel
I never noticed this until recently, besides Mexican restaurants, but now all kinds of places are giving a discount if you pay with cash. Restaurants, gas stations. When I first saw it I figured we were about to have a bank run or something lol.
Posted on 12/2/24 at 10:01 am to Broyota2
quote:
Because it does
not saying this is right or wrong, whatever works for the individual is right for them, I have a life long friend that is a multi-millionaire and has been for decades, she pays cash for everything, she has never even used a debit card, she has financed very few things and it's been awhile since she has, the only thing she uses credit cards for are booking travel accommodations that require them
Posted on 12/2/24 at 10:03 am to Jack Daniel
There are stores with signs offering discounts for cash, or fees for cards.
This isn't new.
This isn't new.
Posted on 12/2/24 at 10:06 am to 777Tiger
quote:
I have a life long friend that is a multi-millionaire and has been for decades, she pays cash for everything, she has never even used a debit card
Same with my father, 73 has always paid for his vehicles with a full amount check and has never owned a debit card. shite he was using travelers checks up until about maybe 10 years ago
but he is the smartest financially stable person I've ever seen. 
Posted on 12/2/24 at 10:06 am to Jack Daniel
You do avoid cc fees so there’s that
Posted on 12/2/24 at 10:08 am to Broyota2
quote:
Because it does, just last week I put new tires on my vehicle. Was quoted at 1450, asked what the cash price was $1200.
And did you get these tires at some local dudes garage, b/c no chain tire shop is giving you a "cash" discount. The random worker behind the counter could give two shits how you pay for it.
Posted on 12/2/24 at 10:11 am to ChestRockwell
quote:
I pay cash for alot of stuff. There are plenty places that won't charge tax, if you simply ask. There is a home entertainment business in Elmwood that doesn't charge tax if you pay with paper. All depends who you know and deal with.
I had a client that did this and the only thing that kept his arse out of jail was his political standing.
Cost him a couple hundred thousand bucks though. It’s idiotic, it’s incredibly easy to uncover in an audit.
Posted on 12/2/24 at 10:12 am to eatpie
quote:
No one was "shorted"
nah, one of you was almost certainly shorted. Your situation only says that you didn't care about the value of the items and if anyone was shorted.
Ya'll could've came up with a dollar value for each item and then added the difference to shorted party.
The main reason a currency was created was because trading in equal values is rare. And love or hate it, the Dollar is the most fluid currency the world has ever seen.
Posted on 12/2/24 at 10:13 am to TeddyPadillac
quote:
And did you get these tires at some local dudes garage, b/c no chain tire shop is giving you a "cash" discount. The random worker behind the counter could give two shits how you pay for it.
Dude I live in Monroe, LA you think I'm going to a chain tire shop?
Posted on 12/2/24 at 10:14 am to BilbeauTBaggins
quote:
Literally paying cash at most food places gives you a deal
Start naming places. I've yet to visit a restaurant that still offers this in 2024.
It's literally the case in almost every restaurant. You just don't understand it because they've fooled you. You don't get a cash 'discount', you get a cash regular price. If you pay with a CC then I guarantee you somewhere there is a little sign that says you will pay 3-4% extra with sale. You just don't add up and figure it fast enough when they're inputting the sale with tax because it does it automatically and doesn't even show on the receipt.
In fact, most of the time it's automatic and you have to say ahead of time, I'm paying with cash before they start ringing you up. That 3-4% is there and you'll quickly find it if you pay attention to the price vs the charged price.
Posted on 12/2/24 at 10:18 am to Darth_Vader
quote:
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.
Sure, the company can make 5% per year return by loaning you the money. But in that case, they do not have $50,000 yet, and you have their vehicle. They end up with the profit from the vehicle sale and an additional $6,613.70 at the end of a 5 year transaction (assuming your math was right).
Now if you pay $50,000 in cash, they get their profit from the vehicle sale immediately. And then hopefully their business turns a margin better than 5%. So they can turn that into more than $6,613.70 in a 5 year span with simple reinvestment in their company. I mean a simple 7% per year return in some mutual fund would yield $70,127.59. I'm not saying that's always their driver or the market they want to play in. There's risk there. But there is a benefit to getting full value up front.
Posted on 12/2/24 at 10:19 am to Jon A thon
quote:
Sure, the company can make 5% per year return by loaning you the money. But in that case, they do not have $50,000 yet,
Yes they do
Posted on 12/2/24 at 11:22 am to heatwave
quote:
It would allow the seller to potentially avoid taxes through keeping it off the books
The people who do this have never been audited. My business deals with a lot of commercial fishermen. Some have tax exemptions, most don't. Years back some inside salesman decided to not charge taxes to ANY fisherman.
The two week audit was hell on earth. Just not worth it.
Posted on 12/2/24 at 11:28 am to Jack Daniel
Does for buying gas at the station.
Posted on 12/2/24 at 12:01 pm to Smeg
She probably had a low credit score.
Like.... 350.
Like.... 350.
Posted on 12/2/24 at 12:07 pm to OU812ME2
quote:
It's literally the case in almost every restaurant. You just don't understand it because they've fooled you. You don't get a cash 'discount', you get a cash regular price. If you pay with a CC then I guarantee you somewhere there is a little sign that says you will pay 3-4% extra with sale. You just don't add up and figure it fast enough when they're inputting the sale with tax because it does it automatically and doesn't even show on the receipt.
I can read a receipt baw. I've never seen any extra % added for using a card at a restaurant.
Posted on 12/2/24 at 12:11 pm to Jack Daniel
quote:
Why do people think “paying cash” gets them deals?
Used to be!
Posted on 12/2/24 at 1:04 pm to Turnblad85
quote:
nah, one of you was almost certainly shorted.
Brother, I think you are being obtuse for fun.
Who decides the value on used items? Who decides the value of my time researching online final sales prices on very specific items and then haggling the "decided dollar value" of both items.
If I have a neat stick you want for your collection and you have a super rare bottle cap that I want for my collection, we both trade items and are both happy with the trade, the value is defined, just not in dollars.
But I won't convince you.
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