Pay with CASH. Do they require Social Sec Number?

zmyride · 01-24-2011, 10:44 PM

I want to purchase this used car which i want to use for daily commute. I can't drive my Z in stop-and-go traffic everyday, it's not fuel efficient car.

So the dealer and I agreed for $12500 out the door. I went to the bank and get a cashier's check for that amount. Then the dealer made me fill out the application with my social security no. I refused and walked away.

Is it the law to require you to fill out your ssn eventhough you pay with a cashier's check. Even my bank didn't care. I have nothing to hide but the Fed can track me thru my cashier's check, why do they care about my SSN.

The only time i give out my SSN is when I finance the car, which in this case, i'm not.

ThoriumHotdog · 01-24-2011, 10:46 PM

From what I understand, any purchase over 10 grand must be reported to the feds by the seller. So yeah, you probably do need to give them your SS and info.

Trips · 01-24-2011, 10:50 PM

Quote:

Originally Posted by ThoriumHotdog

From what I understand, any purchase over 10 grand must be reported to the feds by the seller. So yeah, you probably do need to give them your SS and info.

Correct and totally legit.

plato · 01-26-2011, 03:36 PM

Yup. Just fork it over bro.

chops · 01-26-2011, 05:12 PM

its been said before...they need to verify you're not using dirty money or laundering money by running your credit.

SPOHN · 01-26-2011, 06:38 PM

Get one check for 9k and another for 3.5k next time.

Lemers · 01-26-2011, 06:48 PM

Quote:

Originally Posted by SPOHN

Get one check for 9k and another for 3.5k next time.

That wouldn't work because it would be reported against one purchase totaling over $10k.

Waiz · 01-26-2011, 07:07 PM

Search form 8300 through google.

z... · 01-26-2011, 07:26 PM

It only needs to be reported (form 8300) if you pay with greenbacks. If you bring a personal check or cert check any dealer does not have to fill that out. if they are a dealer that obeys all regulations they need to verify OFAC and identity theft to ensure your not a criminal or wanted by the govt or did not steal someone's identity.(do not need a s.s # they can use 123-45-6789). Starting 01/01/11 they also need a risk-based-analysis notice that tells you your credit score. (that is only if you finance with them). I am a finance mgr at a dealership... if you have any other questions i would be more than happy to help out.

zmyride · 01-27-2011, 01:34 AM

Quote:

Originally Posted by z...

It only needs to be reported (form 8300) if you pay with greenbacks. If you bring a personal check or cert check any dealer does not have to fill that out. if they are a dealer that obeys all regulations they need to verify OFAC and identity theft to ensure your not a criminal or wanted by the govt or did not steal someone's identity.(do not need a s.s # they can use 123-45-6789). Starting 01/01/11 they also need a risk-based-analysis notice that tells you your credit score. (that is only if you finance with them). I am a finance mgr at a dealership... if you have any other questions i would be more than happy to help out.

so I read the IRS site, it said if i paid with a cashier's or personal check over $10K then the dealer wont have to fill out the form.

Also only cash transaction over 10K is reported. I'm not making cash transaction. they can't track cash, but they sure can track bank or cashiers check.

PapoZalsa · 01-27-2011, 01:08 PM

Tax purposes for sure.

shoopajae10 · 01-28-2011, 02:27 AM

Sucks to be ballin..

tonybui · 01-30-2011, 10:44 AM

Quote:

Originally Posted by zmyride

so I read the IRS site, it said if i paid with a cashier's or personal check over $10K then the dealer wont have to fill out the form.

Also only cash transaction over 10K is reported. I'm not making cash transaction. they can't track cash, but they sure can track bank or cashiers check.

did u provide your bank your SSN ?? if yes, then the Fed can track you down by using that cashier check anyways ??

01-24-2011, 10:44 PM	#1 (permalink)
zmyride Track Member Join Date: Nov 2009 Location: SF Bay Area Posts: 631 Drives: 10 Black Sports 7AT Rep Power: 16	Pay with CASH. Do they require Social Sec Number? I want to purchase this used car which i want to use for daily commute. I can't drive my Z in stop-and-go traffic everyday, it's not fuel efficient car. So the dealer and I agreed for $12500 out the door. I went to the bank and get a cashier's check for that amount. Then the dealer made me fill out the application with my social security no. I refused and walked away. Is it the law to require you to fill out your ssn eventhough you pay with a cashier's check. Even my bank didn't care. I have nothing to hide but the Fed can track me thru my cashier's check, why do they care about my SSN. The only time i give out my SSN is when I finance the car, which in this case, i'm not.

01-26-2011, 06:38 PM	#6 (permalink)
SPOHN A True Z Fanatic Join Date: Feb 2010 Location: Covington, GA Age: 45 Posts: 14,844 Drives: Waiting on next Z Rep Power: 221	Get one check for 9k and another for 3.5k next time. __________________

01-27-2011, 01:08 PM	#11 (permalink)
PapoZalsa A True Z Fanatic Join Date: Nov 2009 Location: Not in Sunny Florida Posts: 6,358 Drives: 16 Nismo w/Tech Pack Rep Power: 4499	Tax purposes for sure. __________________ 2009 370Z MB Base w/Sport Package 6MT Modshack's Custom Air Intakes /3M Clear Bra/ Illuminated Kick Plates / F. I CBE w/12" resonators / EVO-R Front Lip / Rear Hatch Wing / Tein S-Tech Springs /Ilegal Tint in the Rep. of VA/4x20mm Z1 Spacers/ Vinyl Roof/Liquid Carbon Designs

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01-24-2011, 10:46 PM	#2 (permalink)
ThoriumHotdog A True Z Fanatic Join Date: Sep 2010 Location: TX Posts: 1,104 Drives: Turbo CRX si Rep Power: 16	From what I understand, any purchase over 10 grand must be reported to the feds by the seller. So yeah, you probably do need to give them your SS and info.

01-26-2011, 03:36 PM	#4 (permalink)
plato Base Member Join Date: Nov 2010 Location: Los Angeles, CA Posts: 88 Drives: 2010 370Z 7AT Rep Power: 14	Yup. Just fork it over bro.

01-26-2011, 05:12 PM	#5 (permalink)
chops A True Z Fanatic Join Date: Oct 2010 Location: NA Posts: 1,732 Drives: NA Rep Power: 21	its been said before...they need to verify you're not using dirty money or laundering money by running your credit.

01-26-2011, 07:07 PM	#8 (permalink)
Waiz A True Z Fanatic Join Date: Apr 2010 Location: SoCal Posts: 9,257 Drives: Z33 & GE8 Rep Power: 459	Search form 8300 through google.

01-26-2011, 07:26 PM	#9 (permalink)
z... Base Member Join Date: Nov 2009 Location: Columbia, S.C. Posts: 47 Drives: 2011 370 Rep Power: 15	It only needs to be reported (form 8300) if you pay with greenbacks. If you bring a personal check or cert check any dealer does not have to fill that out. if they are a dealer that obeys all regulations they need to verify OFAC and identity theft to ensure your not a criminal or wanted by the govt or did not steal someone's identity.(do not need a s.s # they can use 123-45-6789). Starting 01/01/11 they also need a risk-based-analysis notice that tells you your credit score. (that is only if you finance with them). I am a finance mgr at a dealership... if you have any other questions i would be more than happy to help out.

01-28-2011, 02:27 AM	#12 (permalink)
shoopajae10 Track Member Join Date: Oct 2009 Location: Over Yonder Posts: 650 Drives: A White Sports Car Rep Power: 16	Sucks to be ballin..