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| *Loan,banking and credit>>>social insurance |
Do you have to give a car dealer your social, drivers license, insurance card for a cash sale? |
Do you have to give a car dealer your social, drivers license, insurance card for a cash sale? yes...you have to have the auto registered and if the purchase is over $10k, it is reported to the IRS as a cash sale If you plan to drive it off the lot and they are giving you plates, then yes, they need your license and insurance card. If the value of the money exchanged is greater than $9,999, then they are required to report it and need your SS# or EIN#. Depends on your state laws / and if you are keeping it in that state or taking it out of state / or out of the country. Per the Privacy act of 1974 (a federal law) demanding your social security number (and drivers license number) for any purpose not directly related to either is a Felony - yeah they will tell you they can do it / they always have a funny look on their face at sentancing though. ADDED: the IRS thing is another joke - the 'form' they claim has no OMB number (it is not a government authorised form, or at least it did not the last time I saw one) the "Law" or "Rule" for reporting over $9,999.00 is part of the Patriot act - per that law they can only demand these things if they are accusing you of supporting a terrorist activity 325-328, if they are wrong in that accusation under rule 329 of that act they are commiting another Felony http://www.usdoj.gov/04foia/04_7_1.html... Check the part about disclosure to third parties I'm not sure about your social security number, but you will have to provide your drivers license and proof of insurance. The car dealership would be held liable if they allowed you to drive off the lot without proper insurance, and they're not about to do that. If you're buying the car for someone else, they will need to provide that information to the the dealership as well. Most likely you will have to provide your social, for registration and legal reasons ( think IRS ). They want to know how much money you're spending. No.... if the dealer wants to provide your titling and registration, tell them you will do that yourself. There is no reason to give your private information for a cash sale, in my opinion. |
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