Buying advice - how to handle the money part

[scott540]

OK, if I have a cashier's check from my bank made out to the seller, is this the best, most acceptable way to pay for a car? It seems like it used to be. The seller is preferring cash but I'm not sure I want to drive 4 hours with around 10,000 in my pocket. Thanks

[chris57]

I dont think it is reasonable for seller to expect cash. But with clever check fraud even cashiers checks can be a little edgey. Set it up on a day when you can meet him at the bank and they can hand him the cashiers check or cash directly. He probably wants cash because the 10,000 will be reported to irs when he deposits the check. give him two cashiers checks that he can deposit on separate transactions.

[widgeon13]

If you know you are going to buy the car, do an electronic transfer and he can check with his bank before you arrive and money will be in his account, do it during banking hours just in case there are any snafu's.

Worked fine for me as well as the seller. Cashiers checks can be bogus these days. I sold a car to a guy from Washington, he sent me 50% and brought the remainder when he picked up the car. He trusted me and was not disappointed. His first check cleared before he arrived and the second check was from the same bank and cleared a couple days after he left town.

We still exchange Xmas cards and he's having a good time with the car and I got my money. Everyone's happy. Many ways to do it if you are dealing with a grown-up.

[Dantilla]

Cashier's checks can be forged.

Meet at the seller's bank. Buy the cashier's check right on the spot so the seller knows it's real. Then he can deposit the money right into his account, and nobody has to walk around with ten grand in his pocket.

[scott540]

I just talked to him and now he's ok with the cashier's check. Thanks guys