Re[2]: [MV] Purchase problem
JRONEY@elotouch.com
Thu, 18 Mar 1999 17:46:55 -0800
Am I the only one here who doesn't like to pay "use" tax on vehicles
that are already "used?"
Call me crazy, but in California, cash is king. Not that everybody
wants to walk around with a big wad of cash, but a few thousand takes
up less room (and is genrally lighter) than the .45 pistol necessary
to ensure its safety.
Why cash? 8.25%, that's why. Our State Board of Equalization
requires vendors (and individuals) to collect sales tax on almost
everything, including used stuff. The fact that they can't enforce it
on individuals means you can generally save some $$$ when paying cash,
but the statutes require that someone pay the state.
That cashiers check provides a wonderful paper trail for future
audits, etc. (anybody been watching Matlock?)
Furthermore, if I'm selling, the first one with cash wins. The
deposit is a great idea, but I wouldn't leave more than I could afford
to lose, since when you come back the vendor might be gone. I have
also drafted a Bill of Sale, with deposit amounts, and blanks for
signatures and VIN's. This won't keep you from being ripped off, but
if you go to court, it's easier to prove your deposit wasn't for
something else. I've also taken keys and registration, as well as
unsigned titles for security against my deposit. Swapping drivers
licenses is good, but then it's hard to get a cashiers check!
It's not because I'm paranoid (I am!) but I do drive a Jeep, and I've
left to get money, and I've broken down, been delayed, got lost, etc.
and when I returned, the guy/booth/show has been over and gone. It's
a wierd feeling, when you know it's your own fault, but can you really
expect someone to stay at a swap booth when you are 12 hours late?
Your bill of sale should include the date, location, ID of both
parties, local address, permanent address, and phone numbers. It
should state the amount of DOWN PAYMENT, amount of sale, and ID of the
thing you intend to buy. It should also give a reasonable time to pay
the balance, and indicate the disposition of the DOWN PAYMENT in case
of a failure to show up. Doesn't need a lot of legal jargon, just a
sheet of paper to "remind" everybody of the deal.
After you return with money/check/whatever, that bill of sale
disappears, and a new one is created with only the minimum of
information to satisfy the DMV. Sometimes the "sales price" is
modified to reflect "market value."
I once bought a jeep and used the fact that it had aftermarket wheels
as a means to negotiate the price DOWN (no combat wheels). I paid the
deposit, and when I returned, the wheels were gone! The guy said he
thought I didn't want them, so he sold them separately. What a mess.
I'm looking foward to seeing you at the convention. You'll know me by
the bulge in my wallet.
james
Fremont, CA
______________________________ Reply Separator _________________________________
Subject: Re: [MV] Purchase problem
Author: Dave Cole <davidacole@juno.com> at internet
Date: 03/18/1999 4:09 PM
I wouldn't deal cash or travelers checks unless you think it would be a
great negotiating advantage. If your Credit Union is 8 miles from the
center, there is no reason why you couldn't give the dealer a couple
hundred in cash, ( that way he knows you are dead serious, get a
receipt,), then you go visit your friendly credit unit and get a
cashier's check made out to the dealer for the full amount and he signs
over the title. Another way to do it is via electronic funds transfer
but then you both really need to go to a bank together to make the
transaction (not necessary from a technical standpoint, but from a trust
standpoint)
Dave Cole
On Thu, 18 Mar 1999 11:02:00 -0800 "Denall, Mike" <mike.denall@lmco.com>
writes:
>Hey 1999 San Jose Convention organizers, or anyone else who can advise
>me...
>I have a serious question here...
>If I wanted to purchase a vehicle (M37 I hope), at the convention, and
>didn't want to carry a lot of cash with me, will you organizers have
>an area
>set aside for potential buyers to "pre-qualify" prior to the
>convention, say
>for some dollar amount so I don't have to deal with the money stuff
>directly
>with the buyers? Would you allow me to use either, a credit card, or
>a
>personal check from my bank with a credit card for security to cover
>the
>total amount of the check [kind of like insurance]. I don't want to
>stand
>there with hundred dollar bills falling out of my pocket while
>negotiating a
>price.
>How is this problem usually handled?
>My Credit Union is only about 8 miles from the convention center.
>
>Mike Denall
>19626
>
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