Ford Maverick Pickup?

[WinterDeere]

Looks like you do a bunch of nonsense for no benefit. The dealer still has to report form 8300, if the total of your payments meets or exceeds $10k.
Doesn’t matter if you pay $32k in one cash payment, or over 4 days with $8k. Might as well simply give the dealer a bank check for the total, instead of waisting time trying to fly under the radar

Today, yes... thanks to the addition of Suspicious Activity Reporting (SAR) placed on banks by FinCEN, which will be triggered by several consecutive days at $8300. But in 5030's defense, that was not the case until recently, the older requirement was only triggered by a daily total exceeding $10k (see Currency Transaction Reporting = CTR).

But I do agree it's a lot of work for no purpose. Buying a car is not suspicous activity, so why work to avoid the reporting?

 

[ning]

Today, yes... thanks to the addition of Suspicious Activity Reporting (SAR) placed on banks by FinCEN, which will be triggered by several consecutive days at $8300. But in 5030's defense, that was not the case until recently, the older requirement was only triggered by a daily total exceeding $10k (see Currency Transaction Reporting = CTR).

But I do agree it's a lot of work for no purpose. Buying a car is not suspicous activity, so why work to avoid the reporting?

Because buying the car may not be suspicious activity, but the source of the money may be... or the taxes paid on the money - or not - may be.

 

[5030]

Looks like you do a bunch of nonsense for no benefit. The dealer still has to report form 8300, if the total of your payments meets or exceeds $10k.
Doesn’t matter if you pay $32k in one cash payment, or over 4 days with $8k. Might as well simply give the dealer a bank check for the total, instead of waisting time trying to fly under the radar

Try it somethime if and I say if you can afford to. I don't mind paying taxes and/or dealing up front and proper but if there is a grey area and I'm aware of it, I pursue it. We didn't get to where we are today (wife and I) from not applying every 'legal' trick to do what we want to do.

Your mileage may be different and that is really not my concern at all..

Flying under the radar and being above board but applying every legal trick to avoid hassels is smart, not dumb, like you may be...

Didn't waste any time actually and the dealer was happy how it transpired as well.

I'm not and never have been a person who desires instant gratification when purchasing any physical product. I have all the time in the world to wait and so did the dealer in that case and they knew EXACTLY what I was doing.

Most folks cannot do that. I/we can.

 

[Jstpssng]

The reason Ford has sold more Mavericks than they can build is because of price

This is why I am looking at them. For >30k you can have something which is relatively good on gas, and leave your Ram 3500 in the garage until you need to tow something.

I don't have a Ram 3500, which is why I bought a Colorado instead.
Somebody mentioned the Ridgeline. I looked into those briefly; but at 16 mpg, I will pass in them.

 

[paulsharvey]

I know everyone Claims they don't care about looks, just function, but we all know that's not true. The Maverick does look less like a car than the newer Ridgeline/Hyundai.

I see so many fake things online, but the Toyota Corolla truck is another very car looking truck.

 

[DarkBlack]

Flying under the radar and being above board but applying every legal trick to avoid hassels is smart, not dumb, like you may be...

Why the big fat personal insult?
Your ignorance, and endless arrogance is in display here. Ww

“That 10K or less acan be over a couple days or even a day so long as each increment is via a different bank check or certified instrument, drawn on different accounts at dofferent institutions (I have acounts at more than one bank).”

You’re certainly ignorant to the fact that multiple bank checks don’t relieve the dealer from reporting your transaction with them, even though I just mentioned it earlier today. The dealer is still reporting all your information. You’re just not aware of it. You really think the government didn’t think of people like you, trying to do what you’re trying to do?

The fact that you’re trying to hide the purchase of a vehicle..which everyone purchases vehicles …while simultaneously blabbing about your method to skirt around reporting laws.. on a public forum. That’s priceless

Here’s some reading to get you started:

Report of Cash Payments Over 10000 Received in a Trade or Business Motor Vehicle Dealership QAs | Internal Revenue Service

The Motor Vehicle Technical Advisor Program in conjunction with IRS specialists on money laundering would like to assist dealers in their compliance with the filing requirements of Form 8300. In pursuit of that goal, we have compiled a list of dealership specific questions and answers.

www.irs.gov

IRS 8300 Form For Car Dealers (2024)

Reporting cash payments! Everything you need to know about the IRS 8300 Form when selling used cars. New form revised 12/2023

kgidealersolutions.com

written for you

Today’s tip. Wire transfers and personal checks are exempt..

 

[ultrarunner]

OP,
Sorry we are way off track.

You were asking about Ford Maverick, which I know nothing about - my truck is 99 F350 4x4 dually crewcab 7.3 Diesel.

No problem as I enjoy the friendly sidebars…

I’m thinking the Maverick will work for what he has in mind…

 

[DarkBlack]

No problem as I enjoy the friendly sidebars…

I’m thinking the Maverick will work for what he has in mind…

Sorry bout that

 

[paulsharvey]

I think he will be happy with it.

 

[KennyG]

I think multiple transfers just under $10,000 would attract more attention than a big transfer. I wouldn't assume no one knows about it. I make several transfers of $10,000 to $100,000 every year and so far, no SWAT teams or black helicopters.