Paying broker commission in cash? Is that usual?

When buying a car, I have always paid in cash so far (even five-figure amounts), so I would not consider that completely unusual. I have also made the sales themselves in cash. But I have to admit that I have not heard from the broker yet that he wants it in cash.

I would shit myself if I had to walk around with that much cash. And because of the direct bank, it wouldn’t be that easy for me either.

At the last car purchase, I picked up a five-figure amount from the bank during the lunch break and rode home by bike after work. But I also "practically tied the money to myself."

Why must cash be equated with tax evasion right away? That is complete nonsense. If there is a proper invoice and receipt for the payment, everything is fine. Without that, I wouldn’t hand over cash of that amount. Maybe the broker had problems with delinquent customers and believes this is a way to reduce the risk of payment defaults. Maybe he also needs the money on short notice or or or. But as I said, as a direct bank customer, I wouldn’t even be able to get that much cash on short notice. I think the ATM spits out €500-€1000 per day, then it’s over.

Hi, apart from the fact that the broker is pretty naive if he believes that you can procure a five-figure amount of cash from one day to the next (that would probably be difficult even as a regular savings bank customer, as a direct bank customer something like that takes at least 3 days), this sounds to me very much like "creative tax saving schemes." For that reason alone, I wouldn’t do it. Best regards, Andreas

When buying a car from a private seller, this is still somewhat understandable and common. In business there is basically no more cash payment.

Best regards,

Andreas

?..It's not such a drama to withdraw the corresponding amount from your bank; it won't be so high that you have to pre-order it. Besides, most financiers require this item, which belongs to incidental construction costs, to be paid from equity. ...

One shouldn't see it quite that simply. Although I personally wouldn't have a moral problem giving him the money in cash, even if the money is paid from equity, it is not kept in a savings sock or under the pillow.

For us, such sums are parked in a daily allowance account with interest income, which is certainly not with the local bank/savings bank. If I order a transfer to my account in the evening, I certainly can't withdraw the money in cash from my account the next morning. If things go badly, not even the day after next, at least not in cash.

Are there actually still cash or cashier's checks? Usually, one always used something like that?

Yes, checks would be an option. But they involve costs and are unsecured or not necessarily covered if they are not "special" (LZB?) checks. Sorry, layman's knowledge

The broker could also bring a mobile EC terminal. Depending on the card limit (which I, as a direct bank customer, can immediately increase by phone), payment can then be made on site with a PIN.