Cool! I've got 101,731 points, so that equals $508.65!
I'll take it!
Yeah it’s a joke really. I was going to do the same as the OP but after finding out what little they’re worth I opted to put down $9,900 to avoid the feds from asking more questions hitting that 10k mark
The Feds aren't going to care, I wrote a check for mine $37,000. Its not like walking into a bank and getting $10,000 cash. That said, if you are a CIS White Male you will be on their radar!
Exactly. And trying to evade reporting by dipping really close ($9900) is known as "structuring", which is a crime if the intent is to evade reporting transactions. But buying a new car at dealership for cash is not setting off any federal alarms.
Well its always a matter scale with these things. If you bought 12 broncos cash you probably trigger an audit lol.
Depends on what you mean when you say buying for cash . . . paying outright via check/xfer vs finance, absolutely not a problem. Pay the dealer with a suitcase of ca$h and it *might* trigger a review. Any cash transaction of $10K or more requires that a form be filed with the IRS (for anything, not just cars). If everything is normal (as in the buyer isn't doing this with regularity like someone attempting to launder money might do) it will typically just flow through fine. If the IRS detects a pattern around either the seller or buyer (or both) doing this enough to warrant attention then additional "stuff" happens.
I thought it was 200 points = $1
