Ez ryder Posted September 24, 2022 Share Posted September 24, 2022 So have any of you had to deal with this ? So I am at the dealer with the wife picking up her new car . I bring a cashiers check close to what they thought the otd price would be and a few grand in cash for any overages etc . The sales guy says I have to fill out a fourm because I am paying cash even though it was a cashiers check . He says it is govenment regulation . So I have to give my ID and my SS number .fine Now I am sitting there about 30 min latter saying are we almost ready for the sales manager sales pitch we have stuff to do . Then my phone gives a allert the FUCKERS pulled a hard credit inquiry on me ? I f pretty much went off on the sales guy . Then the finance guy cones over and I am like this is bullshit why are you pulling a hard inquiry on me I am paying with a cashiers check . He attempts to tell me they have to pull one on every one it is the law ? I was like Wtf this is bullshit . It is more the principle than the mark on my credit . If I did not need to have the car because the wife's was totaled I would 100% told them to give me my check back and to fuck off . So is this some new norm ? Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted September 24, 2022 Gold Member Share Posted September 24, 2022 I’ve always had them ask me if it was ok to run a credit check before they do and I usually have to sign a paper about it too. I don’t see why that even be needed if you’re paying cash??? Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted September 24, 2022 Author Share Posted September 24, 2022 Yeah me to .in 20 I got a new truck gave a cashiers check and no one pulled credit or even asked for a ss# I just figured ss# was more givenment tracking money . Starting to think dealers are getting kick backs in some way from the reporting agency's? Like the dealer can't sell yoir info but the reporting agency's can ? I don't know but it is BS Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted September 24, 2022 Gold Member Share Posted September 24, 2022 2 minutes ago, Ez ryder said: Yeah me to .in 20 I got a new truck gave a cashiers check and no one pulled credit or even asked for a ss# I just figured ss# was more givenment tracking money . Starting to think dealers are getting kick backs in some way from the reporting agency's? Like the dealer can't sell yoir info but the reporting agency's can ? I don't know but it is BS From what I’m reading they need your consent to run a credit report and that always been the case when I’ve bought a car they always make you sign a paper. https://www.ncconsumer.org/news-articles-eg/thinking-about-buying-a-car-dont-get-taken-in-by-the-patriot-act-credit-check-scam.html Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted September 24, 2022 Author Share Posted September 24, 2022 Well this a big MN dealer like they own at least 1 or 2 dealerships per brand . Morries . They did not ask to pull . They said they needed my ID and ss# for the govenment because I was paying cash /check Let's just say there were very few people in the dealership that did not know what just happened when my credit allert went off on my phone lol 2 Quote Link to comment Share on other sites More sharing options...
racinfarmer Posted September 24, 2022 Share Posted September 24, 2022 I was not happy when dealing with the Buy Happy people and haven't been back. I have never had my credit pulled by a dealer when buying a vehicle. Anything we've needed to finance we have done at our local bank. Quote Link to comment Share on other sites More sharing options...
J. Jackson Posted September 24, 2022 Share Posted September 24, 2022 IDK about Mn but here you need written consent to pull a credit report plus asking for SSN when your not financing? Total bs. They did a big no-no. Quote Link to comment Share on other sites More sharing options...
sleepybrew Posted September 24, 2022 Share Posted September 24, 2022 dealers add points to it. the get 5% and charge you 6. i always get my own. in ny you need to prove source of money if over 10k. Quote Link to comment Share on other sites More sharing options...
J. Jackson Posted September 24, 2022 Share Posted September 24, 2022 1 minute ago, sleepybrew said: dealers add points to it. the get 5% and charge you 6. i always get my own. in ny you need to prove source of money if over 10k. Only if cash. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted September 24, 2022 Author Share Posted September 24, 2022 1 hour ago, sleepybrew said: dealers add points to it. the get 5% and charge you 6. i always get my own. in ny you need to prove source of money if over 10k. I asked about why they need this info if paying with a cashiers check seeing as you can't even get one as far ad I know with out being a account holder and showing ID. They just gave me a well it is required on all cash/ check transactions. So I was like what ever . Assuming what I signed and filled out has some sort or credit report concent in it but it was not sold to me in that way and that is bullshit .sort of on me for not reading every fucking line on every page . But we have all done it look at the header glance over the bold amongst the finger print fill in where they highlighted and move to the next sheet . Quote Link to comment Share on other sites More sharing options...
krom Posted September 24, 2022 Share Posted September 24, 2022 9 hours ago, J. Jackson said: Only if cash. bank check, and cashiers check are considered cash, when it comes to the $10K or more on a single transaction, and it is federal law... Cash Includes Cash includes the coins and currency of the United States and a foreign country. Cash may also include cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less, if the business receives the instrument in: A designated reporting transaction (as defined below), or Any transaction in which the business knows the customer is trying to avoid reporting of the transaction on Form 8300. https://www.irs.gov/businesses/small-businesses-self-employed/irs-form-8300-reference-guide 1 Quote Link to comment Share on other sites More sharing options...
J. Jackson Posted September 24, 2022 Share Posted September 24, 2022 8 minutes ago, krom said: bank check, and cashiers check are considered cash, when it comes to the $10K or more on a single transaction, and it is federal law... The bank may do a form 8300 but the business does not require it. Quote Link to comment Share on other sites More sharing options...
ICG Posted September 24, 2022 Share Posted September 24, 2022 You should have walked when they wanted your SS # , on a bank check. Even the cash part is BS.... they have to report larger than $10k cash amounts.....but even that can be circumvented. Quote Link to comment Share on other sites More sharing options...
krom Posted September 25, 2022 Share Posted September 25, 2022 2 hours ago, J. Jackson said: The bank may do a form 8300 but the business does not require it. Read the link before giving out advice.. https://www.irs.gov/businesses/small-businesses-self-employed/irs-form-8300-reference-guide Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted September 25, 2022 Author Share Posted September 25, 2022 4 hours ago, krom said: bank check, and cashiers check are considered cash, when it comes to the $10K or more on a single transaction, and it is federal law... Not according to your link . Cashiers checks are not considered cash and the buisness has no obligation to file a 8300. Again as far as I know you can not even get a cashiers check any more unless you are a account holder Quote Link to comment Share on other sites More sharing options...
J. Jackson Posted September 25, 2022 Share Posted September 25, 2022 13 hours ago, krom said: Read the link before giving out advice.. https://www.irs.gov/businesses/small-businesses-self-employed/irs-form-8300-reference-guide Fine but all I can tell you is that I've taken hundreds+ of bank checks well over 10g's from customers in 40 yrs and have deposited them in my business checking account and have never, repeat never, filled out a 8300. Quote Link to comment Share on other sites More sharing options...
mnstang Posted September 27, 2022 Share Posted September 27, 2022 I would have walked out. Quote Link to comment Share on other sites More sharing options...
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