Frustrated

[Karl]

Had this idea of buying a W107 in my head all year, I have looked at various cars and found it very difficult to find a rust free original example that I wanted to use. I finally came upon a rust free imported 560 in red that I have looked over 3 times test driven, I was at the dealer in question on Monday where we got to the point of me asking "the cash price"
which was inturn given to me, I work outside of Australia and haven't bought a car worth more than ten thousand dollars in a few years. I went inturn to the bank yesterday, to retrieve my brick of cash for payment. I proceeded back to the dealer. Oh no we cannot accept a cash payment $25,000 that large. You will need to give us a Bank Cheque or transfer the money to our business account. I had my Passport, drivers licence, credit cards with me as proof I was who I was. I was treated as if I had expected the dealer to give me the car.

Is this common now in Australia for a dealer not to take cash for payment?


Have I missed something?

Does everyone now get finance and pay off a car, instead of actually paying for it with cash.

I am very upset now I want to buy the car however I feel thoroughly mucked around.

 

[450SE]

Sounds like a communication breakdown - but not actually the fault of yourself OR the dealer.
Having worked in the industry, I was used to people asking a 'cash' price - which was taken to mean they required no finance & could therefore collect the car in a shorter time period.
The truth is that there really isn't a real cash price anymore. From the dealer's point of view, the method of which you are going to pay for the car is usually irrelevant.

You are correct though, most people do finance the vehicle as many new cars are purchased in a company name - meaning the interest component is tax deductible.

However, they SHOULD have accepted the cash anyway as it IS legal tender - banking it would have been their issue as it would have been if you'd presented a bank cheque. I did have an instance when the W209 CLK was released in '02. A client (who was obviously a drug dealer or pimp) came into the dealership with over $150k in a duffle bag as payment for his new fully loaded CLK500 coupe. The girls in accounts spent half the morning counting the cash & the stench from the notes in the room after it was all counted was awful - but it was accepted. So they were actually refusing the payment due to the administrative cost & sheer laziness, which is utterly unprofessional.

Don't take it too much to heart though. You will enjoy the driving experience far beyond the memory of this hiccup.

As a matter of interest, what colour combination did you buy? And CONGRATULATIONS. You will love it!

 

[BenzBoy]

It is really up to the dealer to work with you to achieve a resolution. However, they may not be capable of such pro-active thinking.
2 options -
1. Take the money back to the bank and deposit it through the dealer's banking.
2. Get a bank cheque. Be aware that a bank cheque still takes 3 days to clear. However, a bank cheque can be cancelled if there is sufficient reason.
Or - and this would be my preferred option:
3. Get an invoice from the dealer stating exactly how much you will owe and the vin number of the vehicle in question. Check that it is correct. Then ask your bank to transfer the money to the dealer's
account. There may still be a 24 hour delay before the money is in the dealer's account.
DO NOT LET THE HEART RULE THE HEAD ON THIS ONE!!
Regards,
Benz-Boy

 

[OzBenzHead]

I have never wanted anything desperately enough to stoop to complying with such a stupid request.

There have been occasions where my cash (real money) has been refused; I have made it clear to the vendor that as my cash was legal tender, and because we had mutually agreed to a sale (a contract, in fact, verbal though it may be), that they would accept my cash or lose the sale.

It has always worked for me.

Frankly, if they remain intransigent, I'd be telling them where to shove the car -- sideways and unlubricated.

Arrogance such as theirs deserves similar in return.

 

[abl567]

There are three sides to every story.
Has anyone considered the dealer may be protecting himself from counterfiet cash

 

[SEL_69L]

There is, in Australia, a law, known a the Cash Transactions Reports Act. Any cash transaction over $ 10,000 has to be reported by the bank. It was brought in about 10 years ago to help control drug dealers. There is nothing illegal about tendering large amounts of cash, it's just that some businesses just get nervous about it. The car dealership where I used to work was broken into after such a cash payment was made, and $11,000 was stolen from the safe. It was probably an inside job by one of the salesmen at the time. He was quietly suspected, and was fired later on a different issue.