Discount for Paying with Cash

lynchpin

Hi all,

I hope this is the right forum and that it hasn't been discussed before.

I'm in the process of getting a load of work done on my teeth to the tune of 5000euro. All of which is being paid in cash. I was wondering if anyone has asked for a discount because they are paying in cash or is this only done when buying luxury items like cars, etc?
What is the minimum someone has asked for a discount because they are paying in cash?

On a side note, what is the actual benefit of paying in cash as opposed to cheque or credit card?

Thanks in advance!

mickoneill30

Dunno about getting the discount but on your side note the benefit is to the seller. When you use your CC 1% - 3% from the sale goes to the CC company. So on that €5000 up to €150 could be going to the CC company.

knighted

if u pay cash u should get a discount -if the dentist puts 5 grand thru the books he has to pay tax on it -up to 42 pc -i would ask for somewhere between 500 and 750 euros off for cash-on the other hand if u pay the full amount im sure u can claim a lot of it back thru ur own taxes in the form of credits

antoinolachtnai

You've already agreed a price right? Why would you get a discount for paying in cash? Did he ask you to pay by cash?

wyndham

Isn't there tax relief on dental work?
Why would you want to pay in cash? Personally i would want a full breakdown of everything that was done for that that kind of money, showing what was paid and for what, in case anything went wrong with it afterwards.
Discounts for cash have kind of gone out the window in recent years with the obligation to report transactions over a certain amount to combat money laundering. Just hassle really. There are also security issues with having a lot of cash lying around a business premises. Unless you are a big time coke dealer gettin some gold teeth with tiny diamonds, in which case, go for it.

antoinolachtnai

Well, there are legitimate reasons for wanting to deal in cash and give a discount for cash.

Dealing in cash does not necessarily mean the transaction won't be declared or that you won't get a receipt.

catch--22

For a lot of large scale companies dealing with cash can be a right pain! You have to pay for somebody to count/administrate it and then pay massive amounts for a security company to take it away to the bank for you! Most large retailers would much prefer you paid by card and won't offer a discount at all!

Oryx

The benefit of paying in cash used to be a kind of nod and wink thing about not having to put it all through your books. That doesnt happen so much anymore, as revenue and the banks have tightened up so much. So assuming your seller is strictly legit, cash is a pain as not only is it a security risk, it costs more to lodge cash than to lodge a cheque. I wouldnt say it will necessarily entitle you to a discount. Although as has been said, a credit card payment will cost your dentist money, and is not the best to use if negotiating a discount. Laser is fine as there is a fixed transaction fee.

Where 'cash' does get you a better deal is when you are buying a car, say, and paying cash (or cheque or draft) in full means that you are not asking the seller to take a trade in from you, so he can give you a better price.

If it were me Id ask for a discount based on the amount paid anyway, not because Im giving him cash... perhaps mention how much cheaper it is to get your teeth done up north.;)

mcaul

The bank will charge about .5% for lodging cash, about 1.25% for credit cards. Personally I always preffered to receive credit / laser cards as it took all the hassle fo making lodgements / driving to the bank etc.

You also get tax rebate on this work - if you are paying with (cough cough) cash that just happened to fall into your pocket, just beware that it is possible that the dentist will need to report the transaction.

Bets advice if having to pay in cash is to do it in 3 installments and therefore the dentist has no reporting requirement.

ejmaztec

You could probably buy your own dental surgery in Eastern Europe for €5K, complete with dentist, nurse and matching accessories.

lynchpin

thanks for all the replies. yeah I found out that it was tax deductable so at least I'm getting something back.

lynchpin

antoinolachtnai wrote:

You've already agreed a price right? Why would you get a discount for paying in cash? Did he ask you to pay by cash?

He didn't ask me to pay in cash. It was the handiest way to pay on my behalf. I was wondering about the discount because I have heard of people in the past buying luxury items like washing machines, furniture, t.v's, etc with cash and getting a discount and I never understood why. Some of the other posters have cleared this up for me.

Dub13

Moved from Consumer Issues,you should get a better response here.

btkm8unsl0w5r4

Having worked in practice for many years I can honestly say that cash is the biggest pain going. First the old idea of not delcairing the cash to the tax man means your patient cannot clain the tax relief because the dentists PPS number is on the med 2 form so now you cant get your 40% tax back so the discount would want to be pretty big.

Second this is not a carpet you are buying from the marakesh bizzar, you want bargains go to a place where thay are to be had. I deal in healthcare not items of variabe value.

Value does not equal price, price does not euqal quality however quality is related to value.

lynchpin

Ronnie Important Stepsister wrote:

Having worked in practice for many years I can honestly say that cash is the biggest pain going. First the old idea of not delcairing the cash to the tax man means your patient cannot clain the tax relief because the dentists PPS number is on the med 2 form so now you cant get your 40% tax back so the discount would want to be pretty big.

Second this is not a carpet you are buying from the marakesh bizzar, you want bargains go to a place where thay are to be had. I deal in healthcare not items of variabe value.

Value does not equal price, price does not euqal quality however quality is related to value.

sorry, i didn't realise that what I was getting down was tax deductible at the time of the first post. I got the work done and filled out the med 2 form.