Buying a car with dollars

[jeff1234]

I am planning to buy a car in the near future. Either a new car from a dealer or a used car from a private party.
I will pay for it with dollars that are in my bank account in the US.
Is there a way for me to maximize the purchasing power of my dollars by getting the 5:1 or 6:1 exchange rate that has been discussed recently?

 

[TERKILD]

Its a simple calculation:
Nowadays there is around 30% difference between offial dollar rate and the blue rate.
For a car that cost 20.000 USD, thats 6000 USD difference more or less!
So, look up what a flight ticket to US cost, then you you see that you can make in difference net of costs. Other otion is ATM in Uruguay, like many people mention here in the forum. Personally I would go for a car on credit....you can buy it in 60 installments, in peso! (You need DNI for that I think). That way you are profiting from the peso devaluation and slide. My choice!

 

[jeff1234]

Thanks TERKILD.

I understand the calculation but not the mechanics.
The dealer tells me that even if I walk in with dollars he can only give me credit for about 4.5 for each dollar.
So lets say that I am able to get $14,000US here, how do I use the dollars?
Besides flying back to the US for dollars, is my only choice to purchase pesos on the street at a better rate and give them to the dealer?
Or I could try to take $14,000 out of atms in Uraguay.
I've seen discussion of Xoom and Western Union but they dont seem to transfer dollars anymore.

Thanks;
Jeff

 

[nikad]

You have negotiation power nowadays if you have the bills in Arg, physically. There you either ask for a 25% discount or convert to pesos at the unofficial rate and pay in pesos what they ask for ( you made the difference at the time of exchanging ).

 

[French jurist]

Question for those who went to Colonia to withdraw USDs:
Do the ATMs always have USDs or are they empty at times?

Thanks

 

[jeff1234]

You have negotiation power nowadays if you have the bills in Arg, physically. There you either ask for a 25% discount or convert to pesos at the unofficial rate and pay in pesos what they ask for ( you made the difference at the time of exchanging ).

Is there a secure way to convert at the 'unofficial rate'? I cant imagine giving $15000USD to a man on Florida Street.

Is it possible that an Atm in Uraguay would dispense $15,000US in one day?

 

[nikad]

Is there a secure way to convert at the 'unofficial rate'? I cant imagine giving $15000USD to a man on Florida Street.

Is it possible that an Atm in Uraguay would dispense $15,000US in one day?

I don t think you can get that amount out of an atm in Uruguay in one day, more like a week.

And you don´t give that money to a guy on Fl. st. there are diff ways to do this.

I would give the car seller usd bills if he give me a 25 per cent discount. and then u exchange the rest and keep it for your expenses. Or go to a financiera to sell your usd ( must be reputable ) never in the street!

 

[nikad]

There other ways, more complex though. If you have an investment account in the US and here, you buy Arg treasury bonds in usd in the US, get then transferred here and sell them in pesos with your local broker, and get 5.87 on the dollar

 

[jeff1234]

Is there any way to know the value of USD on the blue market?

 

[zapatosgoma]

It is likely that because of AFIP controls, the dealer can't value your dollars more than the 4.5 official rate. I would look for a private owner, selling a used car (hopefully like new) and make an offer paying cash with U$D bills