Thinking about bringing 12k cash to the dealer

[iwantayarisnyc]

would the dealer give me a new yaris for 12k cash, including taxes.

of course the lowest model(i'm looking at the 3dr hatch, auto)

thanks guys, first post

[seehuge]

No, doubtful for auto. 13 and change MIGHT do it.

[SilverBack]

Mine's a stick and I got it for $12.5K.

Might work out for you if you don't mind giving up the auto

[Phaeton]

Buy a year old and maybe you can get it for that.

[m911gt]

To a reputable dealer, a loan or credit is just as good as cash.

If you're buying used you would have way better luck with cash.

[IllusionX]

12k cash down, and tell the dealer you want to fiance the rest on 72 months. :D

ok joke, but the sales guy might find you pretty funny :P not so much when you put on his desk your suitcase filled with 12k CASH in there.. haha.

i believe they would rather want you to finance/loan it instead of paying it cash. You see, they charge interest on you.. and it's Toyota who's doing the credit to you. So it's more money in THEIR pockets.. :) Unless you are doing a car loan at the bank.. then it's different.

[nemelek]

In Colorado we pay 7.5% in tax. Other states are less. Due to the tax 12K won't work here. If we trade in a car worth 9K than we only pay tax on 3K.

[Tamago]

i can't believe how expensive the yaris has gotten..

[IllusionX]

it's the bad economy...

how much is cost now for the base model? before tax and everything.

[PreciousPups4U]

how much is cost now for the base model? before tax and everything.

Not sure about other places, but in the South for a 3 dr automatic MSRP is $13005 + $775 destination so total is $13780. That is the cheapest available. 14" wheels, no radio or rear defroster/wiper. I assume destination/delivery fees can vary a bit by region.

[Kal-El]

Not actual CASH right? Check?

You'd be crazy to carry $12K in a briefcase around.

[tetzyamis]

Invoice is $12,225...
I'm pretty sure it's impossible to get $12,500 including tax.

[thatboyjer]

Invoice is $12,225...
I'm pretty sure it's impossible to get $12,500 including tax.

i got my yaris for 12500 including tax and everything except for power package.

[KCALB SIRAY]

I got mine for 12,400 with an auto so it is possible to get close to it if not for the exact price, but your probably looking at a 2008 model

[eTiMaGo]

frined of mine bought his wife's Accord in cold hard cash, (car cost 1.6million baht, about $40,000 at the time), had the bills in a backpack. Biggest bill here is 1000 baht, so that was 16 stacks neatly arranged :biggrin:

It would be damn nice to buy a car and not have to worry about financing, interest rates, payments...

[Loren]

Dealers do get kickbacks from the bank for financing, so that's they way they like to do business. Your best bet is to let them think you're financing (no paperwork, just let them think that) and negotiate your best price. Once you've got your price, you can say "oh, I changed my mind, I'm paying cash".

I *did* get my Yaris for $12k out the door, I did so by telling them that I had $2k cash and I was willing to finance $10k and not a penny more. BUT... this was 6 months ago, and it was on a year-old Yaris with 5k miles. I think $13k might be more realistic for a new base model (not an auto, that adds like $800), and even that might be a hard sell.

You can pretty much bet that any dealer is going to charge you invoice price (about $11,300 last I checked) plus a $500 dealer fee (maybe more) plus tax, tag and title fees. So ,you're looking at a bare minimum of $11,800 even before taxes... and that's assuming that your dealer even HAS a base model in stock.

Good luck!

Oh, and I considered paying cash for my Yaris, but decided that I'd rather have that $10k in the bank. Total cost of financing for 3 years was about $500. Worth it to me to have the financial cushion. Your finances may vary. ;)

[tetzyamis]

i got my yaris for 12500 including tax and everything except for power package.

But is your Yaris '09 model?
'09 has standard ABS and side airbag, which make the car more expensive...
$12,225 is the invoice now for '09 3-Door with auto.

[Bob_VT]

would the dealer give me a new yaris for 12k cash, including taxes.

of course the lowest model(i'm looking at the 3dr hatch, auto)

thanks guys, first post

Good luck. I will be waiting to hear the results of your quest!

[mfratt]

So when they ask you to fill out a credit approval paper, you just drop a nice heavy, thick envelope on his desk and be like "what credit?"

But yea I doubt $12k would do it. $13,500 maybe

[iwantayarisnyc]

thanks guys for some hilarious posts, and opinions. My search will continue.....

[anonymous user]

First off a dealer is highly unlikely to accept a cash payment for that much money, they will ask you to go and get a cashiers check, They will probably not even take a credit card payment for that much money :iono: never tried to do a credit for that much. Second if you pull or try to deposit $10,000 or more cash out of a bank or credit union account at one time be prepared for the bank or credit union to tell you they have to fill out IRS forms and notify them, this is called Currency Transaction Report (CTR), regaurdless of how much money you have in your savings or checking.

I would contact the salesman to find out if they will accept a cash payment for that amount and I bet they say no, but if they do then they are required to file form 8300.

If you get a loan from a bank for the value of the car, they will most likely have it in form of cashiers check made out to the dealer. If for some reason they decide to make the check payable to you (which they won't) and you cash it for full amount, again be prepared for them to tell you they have to file paperwork with the IRS and notify them. (if it is over 10,000 dollars).

For your safety and intrest you should be getting a cashiers check or certified check anyway instead of walking around with 12k in your pocket. It feels good but it is not the smartest thing in the world to do with the economy the way it is and then on top of that you are posting this info on the internet.

On another money note a SAR (suspious activity report) must be filed when transactions or attempted transactions involving at least $5,000 that the financial institution knows, suspects, or has reason to suspect the money was derived from illegal activities. This is also filed when transactions are part of a plan to violate federal laws and financial reporting requirements (structuring). Casino's must also follow these laws as well for transaction over 10,000 dollars it is called Currency Transaction Report Casino (CTRC).
:biggrin:


Wow, we take these stupid tests every month on that stuff, you must work for a bank camell.

[LtNoogie]

First off a dealer is highly unlikely to accept a cash payment for that much money, they will ask you to go and get a cashiers check, They will probably not even take a credit card payment for that much money :iono: never tried to do a credit for that much. :biggrin:

I tried to put my Yaris on my American Express to get all the airline miles. The dealer said that they will only do a credit card transaction up to $5,000. Luckily, I had my cashier's check in my pocket.

[otterhere]

It would be damn nice to buy a car and not have to worry about financing, interest rates, payments...

It was, it was; but even paying cash on the barrelhead (check; not bills), the best deal I could find was $13,700 out the door complete for a new '08 auto.

Cash doesn't impress anyone today, although perhaps those times are changin'.