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"Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment." If I send a 10
by Teandw 4y ago
"Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment."
If I send a 10k payment to someone via bank transfer it's in their bank account in 10 seconds. Maybe you live in a country where there are much harsher restrictions?
- olivermarks 4y agoI live in the US and UK/Europe. The vast majority of older people at a swap meet or similar are not going to trust smartphone app transactions. Cash is king.
- Teandw 4y agoThey don't trust a smartphone app provided by their banking provider but they trust a random bloke they've never met with 10k in their back pocket. Right. Makes sense.
- wbl 4y agoYou don't need to trust the person when they have cash
- deleted 4y ago[deleted]
- Zircom 4y agoScenario one - Person A bank transfers Person B $10,000 for their classic car at the car show. Person A leaves, and then several days later the money is clawed back from Person B's account as it turns out it was sent from a stolen/compromised account. They now have no money and no car. Scenario two - Person A gives Person B $10,000 in cash for their classic car at the car show. Person A leaves, and Person B could give a shit about anything to do with Person A as soon as they are out of sight.
- martin8412 4y agoIn scenario two, person B goes tries to use the cash, turns out it's counterfeit. They now have no money and no car.
- 1337biz 4y agoIt is about speed. If someone offers 10k in cash and someone talk about wire transfer blahblah, sellers will always prefer the buyer just paying in cash.
- Teandw 4y agoYou must be very slow using your phone.
- sheepdestroyer 4y agoWe are talking 10s bank transfers here in EU, how much faster do you want it? I would not feel at ease walking around with 10k€ In fact I would find it extremely suspicious if someone told me it's their preferred method to get paid. I would totally expect a mugging.
- 1337biz 4y agoIf they pay by transfer they can charge back, the bank might cancel for some credit reasons, might flag it as they want to verify first why it was made, and so on. Cash is problem free if you live in a low crime area. I do myself all higher priced purchases in cash, even go to the bank and withdraw the money to go to the shop next door. For the same reason I use a VPN. My provider and my bank have no right know what I do or not do.
- bonzini 4y agoNone of that can happen with instant bank transfers. If the bank says it's cleared then it's cleared and it cannot be charged bank anymore.
- WastingMyTime89 4y agoCharge backs don't really exist in Europe. The bar to clear for your bank to reverse a payment is extremely high.
- Matthias247 4y agoI would not. I don't want to be concerned with whether any of this is fake money or how to detect it and hugely prefer an electronic transfer.