Buying a brand new car in cash

[dishcom]

Nung 90s kami. Puro cash.. malayo kasi bank sa amin..almost 17kilometer pa
. E pag nag papa deliver kami almost isang truck. Kaya yun minsan ang kabado yun nag dedeliver. Cod kasi..

[benchman]

almost isang truck ng ano?

[CVT]

One truck of dvng, bro.. :hysterical:

Di ba't sabi ni Agimat,- isang milyon ay kasya sa isang bayong,- base sa kanyang pa-derby?...


"The measure of a man is what he does with power" LJIOHF!

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[CVT]

Kung may personal check ka you don't have to get an MC, same clearing period din naman yun. Nakatipid ka pa ng P46.50

As a side note, automatically reported ng bank mo sa AMLAC any transactions 500K up. Don't know if they share that info with BIR.

They do bro.,- I was interviewed once by a bank for a property purchase as I am getting the fund from their bank.

L*ndyo talaga,- alam na nilang payroll account iyon (so they know the source at pera ko iyon),- aba e gusto pang bigyan ko sila ng kopya ng DOS?



"The measure of a man is what he does with power" LJIOHF!

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[boytsiks]

^^ di ba covered ng bank secrecy yan. I know pag 500k up nakatimbre sa amlac pati pala sa bir?

[benchman]

oh,,, cant imagine how that smells
honga ano, ~isang bayong nga lang pala iyon

[dishcom]

almost isang truck ng ano?

Isang truck ng home appliances. Every month deliver sa amin..

[benchman]

They do bro.,- I was interviewed once by a bank for a property purchase as I am getting the fund from their bank.

L*ndyo talaga,- alam na nilang payroll account iyon (so they know the source at pera ko iyon),- aba e gusto pang bigyan ko sila ng kopya ng DOS?



"The measure of a man is what he does with power" LJIOHF!

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i feel you bro, my branch manager once called me for "verification daw" once i deposited/transferred funds to my account. verification what? tanong ko,,, for auditing purpose naman daw ngayon as requested ng MAIN. she stopped until i send her a copy of our DOS. though wala naman daw kinalaman ang BIR doon,,,, sabi nya

[papi smith]

Metrobank ba ang banko nyo?

[unmarked]

You'd think mas gusto nalang talaga ng dealer ang cash or mc. Since sa credit card mababawasan pa kita nila bilang merchant.

[Wh1stl3r2]

They do bro.,- I was interviewed once by a bank for a property purchase as I am getting the fund from their bank.

L*ndyo talaga,- alam na nilang payroll account iyon (so they know the source at pera ko iyon),- aba e gusto pang bigyan ko sila ng kopya ng DOS?



"The measure of a man is what he does with power" LJIOHF!

28.7K _/_/_/_/_/:superhero2:_/_/_/_/_/

Sabi ko na nga ba e. Front lang ng BIR yung AMLAC. Kami bro dati hiningan pa ng RD ng SOAL. Di naman kami pulitiko last I checked. Ang hirap sa kanila ang pinipiga yung alam na nilang nagbabayad na ng taxes. Yung mga walang rehistro man lang ng business nila di ginagalaw.

In fairness to your bank I think they really need to show documentation of the property purchase for the big fund transfer. Otherwise baka i-flag ng AMLAC as unusual and magka-investigation. I also submitted a DOS for a lot I bought, utang nga lang yun. I don't think nilaglag ka naman ng bank, talagang required lang sila magreport.

That's why sometimes it's better (for me) to buy through financing even if it is just a small part of the purchase price. BIR will have your head otherwise. Even if you have proper documentation di naman papayag umuwi yang mga yan na empty handed.

[ejbulacan]

Na alala ko tuloy ibinili ko ng Innova yung ate ko sa Toyota Alaang,

Dollar yung pera ko widraw sa bank since mababa palitan sa banko dinala ko pa sa Glorieta para papalitan yung dollar ko heheehe

Prior to that nag hanap muna akong kambal na clutch bag.. yung isa nasa pamankin ko may lamang papel.. yung isa dala ko galing money changer.. pinag intay ko na sya sa loob CR ng mall then pag pasok ko simpleng swiching ng bag.. So ang dala ko talaga clutch bag walang lamang pera and one hour muna ako nag ikot sa mall to make sure walang naka sunod sakin.. yung real money naka clutch bag at naka packbag sa pamangkin ko nag kita nalang kami sa parking

Grabe toh, galing ng strategy.

[monmendoza]

Most dealers don't accept personal cheque. Company cheque or MC lang


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Not true. I have paid with personal check many times. As long as you don't immediately
get your car until your check has cleared.

[monmendoza]

Kung may personal check ka you don't have to get an MC, same clearing period din naman yun. Nakatipid ka pa ng P46.50

As a side note, automatically reported ng bank mo sa AMLAC any transactions 500K up. Don't know if they share that info with BIR.

only if the bank finds it suspicious. if the bank who handles your account
regularly sees you transferring amounts higher than P500k, they don't need to report it.

[mortis]

only if the bank finds it suspicious. if the bank who handles your account
regularly sees you transferring amounts higher than P500k, they don't need to report it.

Aml requires reporting of transactions 500k and up as these are covered transactions. If the bank feels that there is a deliberate attempt to evade being reported or if they suspect something, even if below 500k, a transaction can be reported as suspicious(STR).

[mortis]

They do bro.,- I was interviewed once by a bank for a property purchase as I am getting the fund from their bank.

L*ndyo talaga,- alam na nilang payroll account iyon (so they know the source at pera ko iyon),- aba e gusto pang bigyan ko sila ng kopya ng DOS?



"The measure of a man is what he does with power" LJIOHF!

28.7K _/_/_/_/_/:superhero2:_/_/_/_/_/

A bank cannot automatically reveal transaction details to the bir, as these are covered by existing deposit secrecy laws. Bir needs to get court orders for them to be able to access bank records.

[composite]

Guys, kpag nagbyad po b ng cash sa dealer may nakukuha bang big discount from the dealer's suggested retail price?TIA


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[CVT]

Guys, kpag nagbyad po b ng cash sa dealer may nakukuha bang big discount from the dealer's suggested retail price?TIA


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Sadly dito sa Pilipinas bro, almost all of the times, wala bro. Payong lang makukuha mo.

I remember accompanying a friend is the US. He was buying a Previa with SRP of $32k...

He was able to negotiate to buy it at only $25k after a couple of hours, telling the dealer "I will buy but only at $25k because that's the only money I have"...

We got the unit on the same day, after he wrote a check.

You will not be able to do that here... Cartel ang mga dealers dito e.

[ice15]

Guys, kpag nagbyad po b ng cash sa dealer may nakukuha bang big discount from the dealer's suggested retail price?TIA


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Normally, you will get a big discount for previous year models... Especially if the model was refreshed or an all new model is available...

But sadly, for current models, you only get the basic stuff...

May article earlier na dealerships earn very little from cash buyers... Majority of their income will come from financing (inhouse and bank), maintenance, parts and accessories.

Same reason why sales agents will prioritize the young buyer na pormang porma to buy their first car... Normally installment sila with very little for down payment... Yung late-30's (and older) daw na naka pambahay/shorts might buy in cash and maliit lang kikitahin nila.

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[CVT]

Normally, you will get a big discount for previous year models... Especially if the model was refreshed or an all new model is available...
p

And even with that, no advantage for cash buyers vs those buying on loan....