Tag Archive | cash

‘Prime Honda – Boston’ Charges A $500 Penalty IF You Want To Buy A Car CASH!

by Anura Guruge



So much for cash being king!

Wow. I have never heard of such a thing — & I have yet to find anyone else who has encountered this either.

I spoke to a friend who owns a car dealership. He thought I was pulling his leg. He, like so many others, will give you a discount for cash. When I bought one of my Jaguars, from a dealer, they would ONLY accept cash — & I mean cash as in $$$ bills!

This is crazy. Just tells you how much they must make from their FINANCING! Wow.

Plus, you have to finance at least $5,000. Stupid. Crazy.

No, I am not going to deal with them. SMILE.


Related posts:
Search ‘buying car’.


by Anura Guruge

Fidelity BillPay & Cash Management Flawed.

by Anura Guruge


fidelitybillpay


I am a huge fan of Fidelity Investments. I have been a customer for over 24 years and they are very nice to me, at least 99% of the time. In general I have nothing but GOOD to say about them. They do try.

But recently I discovered, to my cost, that their cash management policies, that have always been suspect, can lead to SERIOUS problems when it comes to Bill Pay.

Fidelity, of late, has been enticing all of their customers to partake in their Fidelity BillPay — and even offering incentives.

Well, be careful. Very careful.

A very nice lady representative (and 99.9% of Fidelity’s reps are OUTSTANDING) summed it up yesterday, very pithily as such: “However hard we (i.e., Fidelity) try in the end we are NOT a bank and continue to be a traditional brokerage house”. And that is the issue. Though they like to act and quack like a bank, in the end they are not.

Their cash management has always given me pause — though after all these years I have kind of come to terms with it. But it still bothers me.

If you buy stock (or equivalent) at Fidelity they IMMEDIATELY take your cash. Bang. Actually you can’t complete the transaction unless you have the cash or margins (and I don’t deal in margins (since I know I will be tempted)). That is OK.

But when I sell any stocks (or equivalents), HELD at Fidelity (and as such known to be liquid and beyond reproach) they don’t let me have cash to WITHDRAW till 3 days later. The old, traditional brokerage house 3-days to settle. That is duplicitous and disingenuous. But they get away with it because you have no choice. IF you trade with Fidelity those are THEIR rules.

Well Fidelity BillPay sometimes falls foul of their Brokerage House mentality and rules. You may have cash in your account and their system will tell you that you have cash BUT when it comes to BillPay that cash might not be accessible. It is crazy.

Best to do your bill pay through a band and just transfer funds from Fidelity to the bank. That is what I am now doing — via Bank of America.


Related posts:
++++ Search on ‘Fidelity‘ for other related posts from past years >>>>


by Anura Guruge

Has Richard Rawling’s & ‘Fast N’ Loud’ Been Audited For ALL Of Their Cash Transactions?

.Anura Guruge December 2014 thumbnail
.
.
.
.

by Anura Guruge


Richard+Rawlings+Richard+Rawlings+Enjoys+Beach+OSm_b0Be3oDlRelated Posts:
>> ‘Fast N’ Loud’ 
— ‘Funniest Videos’.
>>‘Fast N’ Loud’
— profits.
>>
‘Klondike’.
>> ‘Africa’ series.
>>
‘North America’ series.

>> ‘Hotel Impossible’

 ++++ Search ‘cars‘ for other automotive related posts >>>>


fast-n-loud-52Yes, I know it is a ‘Reality Show’ and as such that all that we see is NOT real. That said the BIG deal that Richard Rawling makes about ALL of his cash dealings, most of them in excess of $10K, makes me wonder … In the U.S. there are strict rules and regulations about individual transactions exceeding $10K. In some cases there are IRS forms, Form 8300, that need to be filled and submitted. It is possible that Richard does all of that or that all of the purported ‘cash’ deals are just for the camera. Yes, it is a ‘Reality Show’ but they do portray an alarming disregard for the LAW. Last night we saw an episode where Aaron just jumps into a car they bought — cash — and starts driving it back. No registration? No plates? Not right.

As a diligent taxpayer, I really would feel so much better if the IRS checked ‘Gas Monkey‘ to make sure that all those cash transactions have been properly reported. At a minimum lets make sure that ALL the cash transactions shown on TV were reported. That seems fair.

As I have bitched before I take umbrage to the way they play ‘fast N’ loose’ with financial matters on this ‘Reality Show’. The so called ‘profits‘ that they show at the end of each show are beyond misleading. They do not take into account salaries, equipment, rents, taxes or overhead! That is wrong.

But it would be worse still IF they didn’t play right by the IRS — not to mention the State of Texas. So I hope that somebody will take notice and check.

SMILE.


%d bloggers like this: