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Old 05-03-10, 10:46 PM   #1
mtalinm
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why I pay cash at the LBS

1. the owner really appreciates not losing 1-3% of each sale to the credit-card companies
2. forces me to give myself a budget, so I'm less likely to blow extra $ on stuff I don't need
3. wife can't track my bike spending
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Old 05-03-10, 11:00 PM   #2
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1) I don't give much thought to what the LBS does, I go for the price that best suits me. It's nice not having to depend on the shops for overpriced parts and service!

2) I don't spend money on stuff I don't need. A nice smooth running bike is enough.

3) Wife rides too and encourages me to buy bike stuff

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Old 05-04-10, 02:25 AM   #3
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Originally Posted by mtalinm View Post

1. the owner really appreciates not losing 1-3% of each sale to the credit-card companies
Usually try to pay cash with any local store or service - a small effort to keep more $ in our local economy


2. forces me to give myself a budget, so I'm less likely to blow extra $ on stuff I don't need
Have been good at resisting impulses

3. wife can't track my bike spending
My partner and I are pretty open about our respective expenses & we each have our fiscal weaknesses.
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Old 05-04-10, 03:10 AM   #4
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1. the owner really appreciates not losing 1-3% of each sale to the credit-card companies

I buy wherever I find the best deals ... if my spending supports the local economy, fine. If it doesn't, then it is supporting the global economy. It's all good.


2. forces me to give myself a budget, so I'm less likely to blow extra $ on stuff I don't need

I know what I want, and buy it.


3. wife can't track my bike spending

My husband and I both cycle. If I go to a bicycle shop, he's there too. If you have to hide purchases from your wife, you might want to have a deeper look at your relationship. It doesn't sound too good.
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Old 05-04-10, 03:57 AM   #5
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As a former small business owner we appreciated cash and debit cards, that 3%(and in some cases more) can add up, and in cases like American Express it takes 15 days for the money to hit your account. I always check with one of my LBS's first for things. In some cases I know it isn't available I will order it from somewhere else. I saw a study somewhere that of the money spent at local owned businesses 78% goes right back into the local community, money spent at big box stores ~48%, money spent over the internet little to nothing.

I have a bicycle budget that is part of the general budget we do every year, as long as I stay within my budget, or sell some of my things no problem spending on bike stuff. Right now I am saving for a Brompton, when the time comes I will go buy it.

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Old 05-04-10, 05:00 AM   #6
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1. the owner really appreciates not losing 1-3% of each sale to the credit-card companies
When the merchant is willing to give a discount for cash/debit card purchases I will appreciate him.

I really appreciate the 1.25% rebate I get on every purchase I make with my credit card (2% on supermarket purchases, 5% on gasoline purchases are additional rebates).
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Old 05-04-10, 05:15 AM   #7
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3. wife can't track my bike spending
I feel your pain....
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Old 05-04-10, 05:35 AM   #8
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1. the owner really appreciates not losing 1-3% of each sale to the credit-card companies
I also appreciate not giving fees to banks for doing nothing. They're leeches on productive society. So F-- them.

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2. forces me to give myself a budget, so I'm less likely to blow extra $ on stuff I don't need
The credit card providers know that people spend more with plastic. They refer to this overspending as simply "spend." They expend a fair amount of effort to measure and maximize "spend."

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3. wife can't track my bike spending
My wife and I have separate bank accounts. My wife knows I am not spending more than I can afford on bike stuff. I don't want anyone else to be able to track what I spend my money on.
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Old 05-04-10, 08:45 AM   #9
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As a former small business owner we appreciated cash and debit cards, that 3%(and in some cases more) can add up, and in cases like American Express it takes 15 days for the money to hit your account.

So does the extra 28% we pay at the LBS!

Conti GP 4000 online for $45 (free shiiping) , at the shop, $62....atleast! (prices from a year ago last time I compared)
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Old 05-04-10, 08:53 AM   #10
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As a former small business owner we appreciated cash and debit cards, that 3%(and in some cases more) can add up, and in cases like American Express it takes 15 days for the money to hit your account. ....Aaron
Like others here, I buy where I can get the best deal. However, cash is always my preferred method of payment for precisely the reason that Aaron stated. Small business owners love cash and the customer with lots of it always gets the best service.
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Old 05-04-10, 09:11 AM   #11
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When the merchant is willing to give a discount for cash/debit card purchases I will appreciate him.

I really appreciate the 1.25% rebate I get on every purchase I make with my credit card (2% on supermarket purchases, 5% on gasoline purchases are additional rebates).
Service agreements with the card providers try to make it difficult for the merchant to offer the cash discount (just as they've done away with the minimum purchase requirement). And of course, rebates and other promotions are there to give you incentive to spend more, racking up more fees for the servicers. Those programs wouldn't exist if they didn't add to the banks' bottom line. And of course, if you carry a balance, the interest will erode your savings quickly.
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Old 05-04-10, 09:29 AM   #12
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3. wife can't track my bike spending
What? You hide what you spend in the LBS from your wife? Who's in charge???




Yeah, same here.
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Originally Posted by bragi "However, it's never a good idea to overgeneralize."
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Old 05-04-10, 09:48 AM   #13
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I normally go to the place with the best price for parts. I can't stand to pay the high price for maintenance so I try to do all my own. I have had some owners say that they can't compete with internet prices and won't try, while others will try.

Budget? this isn't a hobby its an addiction, there's no stinking budget!

My wife is worn down on this already, I have 9 bikes and it doesn't make sense to hide things. She likes shoes and I like bikes, at least I'm at home, sober, don't kick the dog and mow the lawn.

Now anyone know how to hide a BMW M3 from the wife, I could start parking that a few blocks from the house.
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Old 05-04-10, 10:10 AM   #14
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I normally go to the place with the best price for parts. I can't stand to pay the high price for maintenance so I try to do all my own. I have had some owners say that they can't compete with internet prices and won't try, while others will try.

Budget? this isn't a hobby its an addiction, there's no stinking budget!

My wife is worn down on this already, I have 9 bikes and it doesn't make sense to hide things. She likes shoes and I like bikes, at least I'm at home, sober, don't kick the dog and mow the lawn.
I try to use my LBS as much as possible. It's the least I can do, because they've been very good to me. I acquired two bikes through tips from them, and one bike free from them, plus they let me use their tools and stuff for quick jobs. I trued the wheel on my commuter on their stand Friday 10 minutes before they closed. I know there are cheaper sources for some parts, but if I'm buying somehting new I buy it from them if I can. I do a lot of my own maintenance, but they help out there a lot. They've shown me the ins and outs of a lot of maintenance tasks. If they show me how to change out a freewheel, I have no problem buying a freewheel tool from them.

I have six bikes put together, three more in pieces, a project bike that is too small for me, and two parts bikes. My wife's getting worn down too. At this point it's partly the cost, but the other part that bothers her a bit about the cycling thing is that I have remodeling projects around the house that aren't getting done.
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Originally Posted by bragi "However, it's never a good idea to overgeneralize."
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Old 05-04-10, 11:30 AM   #15
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3. wife can't track my bike spending
How do you hide a brand new bicycle from her? Does she not live in the house?


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Now anyone know how to hide a BMW M3 from the wife, I could start parking that a few blocks from the house.
M3s are fairly common and doesn't look all that different from any other bimmer, just remove the badges and disguise is as regular 3-series.
Now if you have a Boxster... then it's tough to tell her its just a VW Beetle. heh!
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Old 05-04-10, 11:48 AM   #16
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I paid for my bike using cash because

1) I don't have a credit card
2) They said they would have to wait for a cheque to clear before giving me the bike
3) To pay by debit card I would have had to take several hundred pounds from the building society and pay it into the bank where my debit card is.
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Old 05-04-10, 12:23 PM   #17
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THERE IT IS! hahahaha
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Old 05-04-10, 12:28 PM   #18
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1) I don't give much thought to what the LBS does, I go for the price that best suits me. It's nice not having to depend on the shops for overpriced parts and service!

2) I don't spend money on stuff I don't need. A nice smooth running bike is enough.

3) Wife rides too and encourages me to buy bike stuff
Where can I find one of these ?
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Old 05-04-10, 12:34 PM   #19
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Now anyone know how to hide a BMW M3 from the wife, I could start parking that a few blocks from the house.
"Joe, from work, wants me to keep an eye on it for him and drive it while he's out of town on business in Malaysia. He'll only be gone a week."

"Joe's car? Oh, the company extended him over there for a month."

"The car? Oh, George volunteered to fill a temp position while he's in Singapore. I don't know when he'll be back."
"Joe? Malaysia? ... uh, uh, yeah; I meant Joe! Uh, he transfered to Singapore ... uh, yeah! That's it!"
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Old 05-04-10, 12:39 PM   #20
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1. the owner really appreciates not losing 1-3% of each sale to the credit-card companies
It's not my job to finance the store owner's inventory. He should be including the cost of his financing in the price. If he is, and I pay cash, I'm overpaying him.

How credit cards work:
The store pays a fee in order to get cash (almost) on the barrel. The customer doesn't pay until the end of his billing cycle, getting up to a month of financing without any interest charge. For people who have good credit, the credit card company is collecting the "standard" rate for the financing from the retailer, though the buyer's creditworthiness warrants a lower rate. That's why the credit card company is willing to give rebates to customers with good credit (it's basically the difference between the short-term lending rate for a bad credit and a good credit). I have no problem with the fact that the benefit of my three decades of financial responsibility inures to me, and not to a retailer.

Before credit cards were widespread, many (or most) retailers extended credit on their own to buyers. Some still do, often in the form of a company credit card.

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2. forces me to give myself a budget, so I'm less likely to blow extra $ on stuff I don't need
I can use a piece of plastic to make green folding bits of paper spit out of an ATM and promptly hand to someone for a carbon-fiber doodad I don't need, or I can use a piece of plastic to get a carbon-fiber doodad I don't need without fooling with the bits of paper. I don't find that the choice of ritual has much of a differential effect.

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3. wife can't track my bike spending
I suppose that's the same reason "escorts" accept cash only. Or so I have been told.
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Old 05-04-10, 12:44 PM   #21
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they aren't all cash only ... just sayin'
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Old 05-04-10, 01:14 PM   #22
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Where can I find one of these ?
California, Man!
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Old 05-04-10, 02:16 PM   #23
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California, Man!
Ok, that's it. I'm staying single. Cycling wives or no, its not worth a trip to California!

Also, this thread reminds me of this.


I'll buy new tools at the LBS, and they do all my wheel truing. That's where it ends. The markup on tires alone is a reason.
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Old 05-04-10, 05:05 PM   #24
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It's not my job to finance the store owner's inventory. He should be including the cost of his financing in the price. If he is, and I pay cash, I'm overpaying him.

.......I have no problem with the fact that the benefit of my three decades of financial responsibility inures to me, and not to a retailer.
Not sure what your getting at here. VISA benefits from credit card transactions since they are getting a 3% kickback from the retailer. You're getting less than 30 days of credit in return. Someone with 3 decades of financial responsibility should be paying much less than 1% for that benefit so VISA is making big dollars from your transactions and the retailer is over paying. The cash customer gets a discount (possibly) or at the very least better service. Many would prefer that to a couple of weeks of credit which is why some prefer to pay cash. Of course if you had very bad credit or if your card has some sort of reward points, then that will shift your cost/benefit calculations.

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I suppose that's the same reason "escorts" accept cash only. Or so I have been told.
Escorts accept major credit cards but prefer cash, just like most small businesses.
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Old 05-04-10, 05:43 PM   #25
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I also appreciate not giving fees to banks for doing nothing. They're leeches on productive society. So F-- them.
They set up a system that provides liquidity and convenience for customers. They have to maintain the network and front the money. Hardly nothing. They are entitled to some cut of the transaction, otherwise what is their incentive for maintaining the network?
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