The Feeling of Paying Cash for Your New Car: Priceless
Unlike most Americans, many Chinese still like to pay for things in cash.
Whether it be some fear of banks or a simple desire to avoid being in any sort of debt, many Chinese, like the guy in this article, are even willing to purchase a vehicle with cash instead of getting a loan.
(link)
By Sun Tzu on 28-06-2008
Comment by darkwing duck
June 28th, 2008 at 3:58 pm
lol
Scrooge McDuck
Where did he hide all that money?
Comment by Ed
June 28th, 2008 at 5:27 pm
Those are 1 RMB notes…. Thats why it looks like so much.
Ha! Must have pissed off the dealership having to count it all!
Comment by GZ Expat
June 28th, 2008 at 5:33 pm
And, he paid with all RMB1.00 notes!?!?!
Comment by mizz_t33
June 28th, 2008 at 5:59 pm
lols!!
Comment by shooter
June 29th, 2008 at 4:36 am
stick em up
Comment by starboykb
June 29th, 2008 at 9:21 am
he should have change the notes. Probably he think nobody will suspect he carried the box fill with money.
Comment by Gabiechan
June 29th, 2008 at 2:14 pm
damn…..
Comment by ah sha
June 29th, 2008 at 8:55 pm
haha, we did that too, but it was $40,000 worth of AU$100 or $50 =-=’ wrapped in newspaper, ,,,
Comment by Sultan_Azteca
June 29th, 2008 at 10:11 pm
There is one reason why China has a trade surplus and the US and Europe have hefty deficits… by staying away from debt. Pay all you current wants and needs with nothing but your current means… I guess Confucius must have said that.
Comment by Jim
June 30th, 2008 at 1:52 am
He works as a toilet attendent and saved up over ten years worth of tips for his deam car. Thats why they are one RMB notes.
Comment by Misósofos
June 30th, 2008 at 3:08 pm
The size of the cash is almost like that of the car LOL
Comment by me
June 30th, 2008 at 4:49 pm
I have 20$, how many of these cars could I buy?
Comment by darkwing duck
June 30th, 2008 at 7:32 pm
The same amount you can buy in the usa
Comment by hcg
July 1st, 2008 at 12:01 pm
That they don’t have anything to do with banks doesn’t mean that they don’t have loans with other people or mafias.
Comment by cromagnum
July 14th, 2008 at 6:55 am
They don’t have bank drafts in the PRC?
Comment by Gaz
July 26th, 2008 at 5:58 am
Seen this at a dealership in wuhan, the guy just kept on passing bundles of 100RMB notes through the window to pay for the car like he was buying a shirt.
Comment by sdf
July 30th, 2008 at 11:45 pm
4-10k worth of ones..hourly pay well earned.
Comment by Bert
August 8th, 2008 at 5:30 pm
Now that is what I call a stripper wad…
Comment by Maria
August 12th, 2008 at 12:04 pm
I admire his ability to save up for his dream car. Life has so many ways of taking away a savings. Good for him!
Comment by aznjimmeh
August 24th, 2008 at 2:19 am
those are definitely NOT all 1rmb notes, the green ones are 5′s and the red ones are 100′s they barely make 1rmb notes, most 1 rmb’s are coins
Comment by joseph
August 31st, 2008 at 11:30 pm
If i remember correctly $1 RMB is purple note,
Comment by O'Neil
September 5th, 2008 at 10:35 pm
Those cars are not legal for sale in the US as they wouldn’t pass any emissions or safety regulations but I think the prices translates to Around $4,000 vs the $20,000 the 40,000 USD US cars cost.
So if cars that cheap were for sale in the US then people would pay cash for them or just buy it on the credit card.
But still that takes commitment to save that much that way since the average yearly wage in China is only around $700.
Still people in the west could learn something from them in that maybe they should put money away in a bank and save for something vs getting a loan.
Debt is not a good thing since it forces you to always make monthly payments and you end up working for that debt vs yourself.
Comment by Thakker
September 15th, 2008 at 2:51 am
Inflation will eat him alive if he continues to put cash in his walls. He shouldve time deposited his cash or something.. the purchasing power of that amount will not be the same when years pass
Comment by Victor Ward
October 27th, 2008 at 12:38 am
Wow… He should go to the black market to get a better rate for his RMB$1….What a jerk…
Comment by Taufik
October 27th, 2008 at 11:25 am
its very funny. maybe in few day he finish count money. and get the car. its very long time to get the car. How about if he want buy a ferrari car? How much box to bring?
Comment by Matty
November 8th, 2008 at 12:15 pm
Testing the new company fake note checker. ^_^
Oh, and I always see those 1 RMB notes, 1 RMB coins are sort of rare in comparison, maybe just since they’re not very convenient.
By the way, does anyone else think the money on the desk seems to be more than would fit in that box?
Comment by ching chong
January 8th, 2009 at 6:41 pm
I lived in Hong Kong for two years in a newly renovated 400 sq ft studio flat. My next door neighbors (nice Chinese family), lived in a 400 sq ft, unrenovated flat, with two adults, two grown children and a big dog.
Comment by mantra5
June 6th, 2009 at 8:27 am
Whats youre point? My wife is Chinese and her family are debt free and enjoy themselves, while on the contrary my parents are pretty much in the hole. I take note of my in-laws lifestyle. I look up to my in-laws because they teach me a lot about retiremnt funding and are vry nice. We went to Hong Kong with them and the people there are very good people. My point is I think Chinese use common sense more and emotion less.
Comment by Uncle B
October 12th, 2009 at 12:10 pm
Usury is not alive and well in China! Chinese are not the same fvcking fools Americans are! They can count past ten, and work percentage problems in their heads, and have not been lulled into complacency by Advertising's high commissioned propagandists! Beware America! This nation has basic habits of your forefathers, and live by them!