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Mandatory: a SSN, a credit check, and copy of driver’s license to buy a car with cash
My friend and I went to four different dealerships to buy a car today. We are paying cash/cashier’s check. The first three dealerships say we would have to fill out a credit application, provide a SSN, and a copy of our driver’s license before seeing the price of the vehicle, it is the policy and it is the law. So, we said no thanks and left.
The fourth dealership showed us the number to the vehicles without asking us to fill out a credit application, provide a SSN, or a copy of our driver’s license. My friend, she didn’t like the asking price and didn’t purchase the car. I wanted to purchase this car and I have cash to pay for it.
I filled out the contract and application for title/registration for the DMV. Before giving them the money, they wanted me to fill out a credit application, provide a SSN, and a copy of my driver’s license. I asked why. They said it was the law. I said no, and left.
I understand under The Office of Foreign Assets Control (OFAC), IRS, and the Patriot Act, Section 326 that any cash transaction over $10,000 I have to fill out IRS Form 8300 and also I am allow only to provide to the dealers my name, address, date of birth, SSN and occupation for the dealers to screen to make sure that I am not on a government terrorism watch list – Specially Designated Nationals and Blocked Person List (SDN).
The IRS and DMV requires the dealers to see a personal identification – a driver license, and to record that identification number. The IRS and DMV does not state the customers have to provide a copy of a personal identification for the dealers to store in their filing cabinets.
The Patriot Act does not require the dealers to run a credit report on customers who pay cash.
I think the dealers misunderstood OFAC requirements and they also misunderstood the Patriot Act, Section 326. Or maybe the dealers do understand the OFAC and Patriot Act requirements and abuse it to collect the customer’s data to store in their database for future marketing.
Anyone encounter this foolish actions from the car dealerships?
The fourth dealership showed us the number to the vehicles without asking us to fill out a credit application, provide a SSN, or a copy of our driver’s license. My friend, she didn’t like the asking price and didn’t purchase the car. I wanted to purchase this car and I have cash to pay for it.
I filled out the contract and application for title/registration for the DMV. Before giving them the money, they wanted me to fill out a credit application, provide a SSN, and a copy of my driver’s license. I asked why. They said it was the law. I said no, and left.
I understand under The Office of Foreign Assets Control (OFAC), IRS, and the Patriot Act, Section 326 that any cash transaction over $10,000 I have to fill out IRS Form 8300 and also I am allow only to provide to the dealers my name, address, date of birth, SSN and occupation for the dealers to screen to make sure that I am not on a government terrorism watch list – Specially Designated Nationals and Blocked Person List (SDN).
The IRS and DMV requires the dealers to see a personal identification – a driver license, and to record that identification number. The IRS and DMV does not state the customers have to provide a copy of a personal identification for the dealers to store in their filing cabinets.
The Patriot Act does not require the dealers to run a credit report on customers who pay cash.
I think the dealers misunderstood OFAC requirements and they also misunderstood the Patriot Act, Section 326. Or maybe the dealers do understand the OFAC and Patriot Act requirements and abuse it to collect the customer’s data to store in their database for future marketing.
Anyone encounter this foolish actions from the car dealerships?