I feel like this is an exceptionally dumb question but, does paying in “cash” limited to paying with paper currency? Or would paying for something, say a vehicle, in full and with a debit card also qualify? so, basically, does not paying with credit or in payments qualify?
Also, paying in full with a debit card is a preferred method for a car dealership, right? Would that be something that one could offer in negotiation in order to bring the price down a bit?
Thanks for anyone who answers this. Much appreciated and have a good day.
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It’s sort of a good question, because the answer is, “It depends…”
If you’re buying something small it usually means you paid using actual currency. But how small is small?
Usually if you are buying something that most people would finance (pay for using a loan) like a car, boat or house, and you did _**not**_ finance it. You would say you paid in cash, even if you paid using a check or debit card or inter bank payment of some other kind. Usually it comes down to if you have to pay interest on the purchase or not.
Sometimes (like super rarely) you might hear of someone who also paid for a big ticket item with a credit card and then immediately paid that credit off and they might be able to claim that they paid cash for the item. I’m brought to mind of some rich person who bought a famous work of art and put the purchase on their Amex card to get the credit card points. They ended up with millions of points just by passing the purchase through the Amex service. They paid off the card right after. I’d be willing to call that a cash deal but only because they paid off the credit before having to pay interest.
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