if someone has 10k cash they will not buy a used car, they will buy a new car, pay it in the next 5 years 200 euros a month and then sell it to a used car reseller.
No sane minded person would sell their more than 10k worth car in cash to an unknown party who shows up with a bag full of 50 euros bills.
BTW this position comes from people who regularly see cash as a form of freedom from oppression and support the use of crypto, which is digital assets that cannot be bought in cash.
So the options are logically 2: it's people that are not right in their mind or it's people who love cash because they don't pay taxes.
10k in cash is an unreasonable amount of money for 99.999% of the population.
I am an investor in my country in bars and restaurants and we're so happy that younger generations virtually use zero cash.
It freed me and my employees from having to deal with cash, bank deposits, handling and transferring money safely, theft, counterfeit money and many many other issues that the stone age money brings.
It also made it much easier to handle payments, I can tell the bank to pay and they will, instantaneously, while before we obviously used the money from the cash register to pay, to spend the cash money and avoid going to the bank to deposit it and had to trust the delivery guy, who changed frequently, to actually not steal the money and disappear (it happened several times over the past 25 years).
It made possible for young people, especially girls, to go around safely with no money on them and still live a full life while also keeping much more control on their expenses.
There's no better way than cash for large transactions between private persons. All the apps have limits of a few thousand and bank transfers take a business day (in Switzerland). No one wants to transfer 5 figures to a random person and wait a day before taking possession of the car. Sellers don't want to give the car before the money is in their account.
So cash it is.
Used cars go for way more than 10k. I bought my current car for 35k used. If you go to used car dealer, the average price is nowhere near 10k.
> There's no better way than cash for large transactions between private persons
For small amounts? maybe.
Assuming you like bringing money with you and your time is free and you like to pay two times: the first time when you pay in cash, the second time when you have to waste time to get the money from an ATM.
There are much better ways to solve these issues and I use cash only with people I already know, other than to pay drinks and cigarettes.
For large amounts?
Absolutely not.
Unless the transaction is between two people with something to hide, of course.
Ironically, this is why Europe wanted to put a limit on cash transactions [1]
There's absolutely no obligation to pay in one transaction.
Even with raising interest rates, it's still more convenient to lend the money from the bank and pay monthly, instead of giving away 10k that could be invested in something much more profitable than a used car.
You can easily repay the loan in 5 years with < 200 euro/month even at rates around 5-6%.
> I bought my current car for 35k used.
That's a very expensive car and this [2] is 35k euros cash.
Not exactly "the best way" to pay. Honestly someone who pays a car with 35k cash, can only look like this in my mind [3]
This how I actually do it [4], paying monthly rates, very cheap interests, thanks, but no thanks.
for more than 10k?
if someone has 10k cash they will not buy a used car, they will buy a new car, pay it in the next 5 years 200 euros a month and then sell it to a used car reseller.
No sane minded person would sell their more than 10k worth car in cash to an unknown party who shows up with a bag full of 50 euros bills.
BTW this position comes from people who regularly see cash as a form of freedom from oppression and support the use of crypto, which is digital assets that cannot be bought in cash.
So the options are logically 2: it's people that are not right in their mind or it's people who love cash because they don't pay taxes.
10k in cash is an unreasonable amount of money for 99.999% of the population.
I am an investor in my country in bars and restaurants and we're so happy that younger generations virtually use zero cash.
It freed me and my employees from having to deal with cash, bank deposits, handling and transferring money safely, theft, counterfeit money and many many other issues that the stone age money brings.
It also made it much easier to handle payments, I can tell the bank to pay and they will, instantaneously, while before we obviously used the money from the cash register to pay, to spend the cash money and avoid going to the bank to deposit it and had to trust the delivery guy, who changed frequently, to actually not steal the money and disappear (it happened several times over the past 25 years).
It made possible for young people, especially girls, to go around safely with no money on them and still live a full life while also keeping much more control on their expenses.