How to Pay Cash at a Car Dealership. I am Kevin Hunter the Homework Guy here today to talk about how to pay cash at a car dealership. A year ago we published Don't Say I'm Paying Cash at Car Dealers. Over 8 million views on two copies we generated of that video, I'll start with a reminder for our viewers why you don't say I'm paying cash at a car dealership. I'm caught up in a late winter snowstorm right now so there's no Liz with me today. A lot has changed in the car business since the Don't Say I'm Paying Cash video was published. At the time we advised that you shouldn't discuss payment method, particularly if it was cash because of the business model of the dealership. You see, cash buyers aren't easy targets for all kinds of unnecessary dealer products and fees and a typical dealership makes thousands of dollars on finance deals. So a dealership would stop negotiating with you on the price of the car if they learned too soon. That you were a cash buyer. That's right, so you had to keep your trap shut about paying cash for your car too early in the car process. Today we're going to discuss how to pay cash so many of you have asked us we decide to go ahead and do this video. You still can bring actual cash as actual currency to a car dealer. We just don't recommend that you pay more than $9,500 in actual cash because it serves to put a target on your back courtesy of the IRS and the Financial Crimes Enforcement Network. Form 8300 is used by the government to track individuals who evade taxes and those who profit from criminal activities. This is Form 8300 that I'm referring to and any business or person that receives over $10,000 in cash as part of a business transaction must complete Form 8300. Investments with Form 8300 is very important for car dealers which are among the most common types of businesses who receive big cash payments from their customers. An important fact to remember is that the $10,000 threshold is not limited to single transactions. If you buy two cars and put $9,000 down on each, the dealer is required to report that you paid $18,000 in total in cash out of pocket. This also includes transactions conducted over the course of a year. Let's get into the way cash can be paid without all of it being actual currency. As mentioned earlier, we recommend that you keep the actual cash in your car dealer below $10,000 should for something comfortably below it like $9,500, perhaps. Other ways of paying cash include a personal check, a business check from your company or a business that you own or a bank issued check. Yes, a place of business like a dealership still accepts checks of all kinds. It is quick and easy for them to verify availability of funds. So don't worry about that. Everyone should know that a money order works too, but you are limited to a maximum amount of $1,000 per money order. With a given car deal, that would be a lot of money orders, a bit too cumbersome for most deals. Better choices would be a cashier's check or a certified check. You might not have known that a debit card works too. You'll just have to notify your bank to have the daily amount restriction removed prior to the transaction. If you fail to contact your bank first, your card will be declined even if you know the money is there. You also have the option of doing a bank draft or wire transfer or a bank transfer. These are just less common. Hopefully this has been helpful for you cash buyers out there. The alternative forms of paying with cash that we presented here typically don't have a Form 8300 reporting requirement. That's not to say a dealer won't file the report anyway and some do for any and all forms of cash payment for cars. Here's an idea for those of you cash buyers who'd like to avoid any chance of being a subject of a Form 8300 filing. Just finance the car at the time of the purchase. You can still put 9500 and cash down and then pay it off in total when your payment book arrives from the bank. Just make sure you comb that contract over very carefully and decline any add-ons or fees before you sign. Don't let them stick you with extra pork. The finance offices are generally the biggest pigs when it comes to gouging customers in a typical dealership. So don't let them burn you. A special thanks to everyone who has sent in donations. It's been heartwarming to be remembered by so many people. Thank you and right now 100% of the donations from viewers are going towards my ongoing care and medical expenses. Again, thanks to all of you for that. Alright, if you appreciate this video today consider giving us a great big thumbs up and please always remember to comment on our videos and share them with family and friends and remember to comment with any good dealer in your area that you encounter, especially anyone not charging those outrageous fees and huge MSRP markups. The entire homework guide team is here to represent you the car buyer and that's what we love to do. Thanks everyone for coming back. We'll see you on our next video, you guys rock. I'm Kevin Hunter, the homework guide. I gotta go.