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Originally Posted by Perfectlap
I once got offered allot of cash for my car. WELL north of the bluebook value.
It was at one of these "west coast customs" type places where half the guys walking around did hard time. I thought the guy was full of crap but the owner who I know told me the guy wasn't kidding. He said a good "segment" of his customers are in "cash businesses" where they have lots of "cash" sitting around and they have no credit. They can't walk into a dealer and pay cash for the cars otherwise the dealer has to report them to the IRS who then start asking questions about why they have so much "cash" around. So they offer to buy cars from "regular" people at huge premiums so that the car sale or loan never registers under their name.
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I'll have to remember to advertise my car around crack houses whenever I decide to sell it. I would have to wonder though when you deposit $20k or more in the bank in cash and they report it to the IRS (which I'm sure they would) wouldn't the IRS want to know who that money came from?