Dave M vin 03572
http://dm-eng.weebly.com/
Location: Northern NJ
Posts: 8,570
My VIN: 10757 1st place Concourse 1998
Using "Instruments of Credit" can be especially difficult if it is on a weekend or holiday and you can't call the bank to confirm authenticity. Cash is KING but even that is counterfeited and many people do not feel comfortable carrying around a lot of it. One problem with not using cash is once a bank check (or whatever) is made out you can't negotiate the amount unless you have several in different denominations. Out-of-State banks make it more problematic. A wire transfer is about the safest method now but that can only be done on a business day and it can take hours. If you lose a bank check it is like losing cash and most banks charge to issue them. Money orders can be good but you will wind up with a bunch because they only go up to $1,000 each and they charge for each one. Best to discuss this with the seller in advance especially if you are going to travel a distance and haven't seen the car up close. On the other side, you should see the Title BEFORE you agree to a price and make sure you are buying from the actual owner.
David Teitelbaum
I generally offer to wire funds if it's over $10k. It's practically instant and fraud proof from the buyers perspective.
Posts: 990
Buyers should understand that the car needs to stay put until the deposit clears.