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Thread: New purchase, former owner questions.

  1. #21
    Senior Member Bitsyncmaster's Avatar
    Join Date:  May 2011

    Location:  Leonardtown, MD

    Posts:    9,000

    My VIN:    03572

    Quote Originally Posted by DMCJosh85 View Post
    Deal didn't hold up. Apparently a certified cashiers check isn't a secure enough way to pay the owner.... I'm at a loss for words but no bother, for me the search goes on. its still for sell in-case anyone else wants it. Additionally message me if you have questions about its condition. I made up some good notes on its condition. The seller is a kind older man with a busy schedule. Good luck.
    The certified checks have been known to be counterfeit. I don't blame a seller to wait for it to clear or demand cash.
    Dave M vin 03572
    http://dm-eng.weebly.com/

  2. #22
    Senior Member
    Join Date:  May 2011

    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

  3. #23
    Gess dodint's Avatar
    Join Date:  Nov 2015

    Location:  Pittsburgh, PA

    Posts:    363

    My VIN:    Between VINs

    I generally offer to wire funds if it's over $10k. It's practically instant and fraud proof from the buyers perspective.

  4. #24
    Nothing witty here lest it offend
    Join Date:  May 2011

    Posts:    990

    Buyers should understand that the car needs to stay put until the deposit clears.

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