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  #1  
Old 10-15-2018, 05:18 PM
t walgamuth's Avatar
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Join Date: Apr 2005
Location: Lafayette Indiana
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paying for a car in another state with bank check

I am wanting to buy a car in Florida and drive it back.

Can I get a bank check from my bank and meet the seller at his bank...and they cash it for him so he gets cash and they can verify the veracity of the check with my bank?
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  #2  
Old 10-15-2018, 05:45 PM
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I've purchased cars that were not local with a cashiers check - I suppose another term for bank check.
Provide the seller with the name of the bank your check is drawn on and have him check it out with his bank.
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  #3  
Old 10-15-2018, 07:45 PM
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Sure if it was the seller I would take it. But I would cash it at the bank it was drawn from.

Fake checks take 7-10 days to be yanked back, but cash is cash.
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  #4  
Old 10-15-2018, 11:39 PM
A Talent for Obfuscation
 
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Wire transfer?
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  #5  
Old 10-16-2018, 07:40 AM
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It's funny that with all the crappy payment systems that have been popping up, it's less safe to perform this sort of transaction than it's ever been. A cashier's check can be forged, so a wary buyer may not accept it. What you can do is ask your bank if they have a telephone number for check verification.

Wire transfer is also good, especially if your bank allows you to order it up from a web interface. That way, you can wire it on the spot and it will be in his account by the end of the day. But three disadvantages. First is that it generally costs about $35, depending on your bank and how much you have on deposit. Second is that the wire system is relatively slow. So if you conclude the deal and order the wire, you may be hanging around for a couple of hours until it can be verified in his account. Biggest problem is that the seller has to reveal his account information, which can open him to fraud. So again, a wary buyer may not like it.

I actually find that some of the online payment systems work better than traditional banking products. If you load the cash into your paypal account, you can send it to him nearly instantaneously. Just check the transaction limits imposed by whatever system you use.
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  #6  
Old 10-16-2018, 07:44 AM
t walgamuth's Avatar
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Paypal costs too much for large sums.

Thanks for all the comments!
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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.
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  #7  
Old 10-16-2018, 08:11 AM
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You can telephone the bank that issued the cashiers check and they will verify that it is authentic based on the payee, check number, amount, etc.

If you use a national bank with branches near the seller (e.g. Chase, Wells Fargo, etc.) you can go to a branch near the seller and get cash or a check while the seller is with you. That tends to dispel any concerns regarding authenticity. It also allows you to complete the transaction in the security of the bank branch - less opportunity for any problems.
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  #8  
Old 10-16-2018, 01:16 PM
Fold on dotted line
 
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Quote:
Originally Posted by t walgamuth View Post
Paypal costs too much for large sums.

Thanks for all the comments!

Postal Money Orders?
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  #9  
Old 10-16-2018, 02:18 PM
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I agree with the others:

Cashier's check, and meet at the seller's bank. Let the bank staff do their job and confirm you're legit.

Bonus, is that you can get the bill of sale, etc. notarized while you're there!
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  #10  
Old 10-16-2018, 02:37 PM
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IMHO, the safest route is a wire transfer. However, don't instruct your bank to send the wire until you have had a chance to see and drive the car.

If everything checks out, call your bank with instructions for a direct bank-to-bank wire transfer. Best to set this deal up with your banker before you leave on the road trip.

Yes, it is around $35 - $40 to send a wire but you don't have to worry about losing a bank cheque while out on the road.

Just my two cents.....
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  #11  
Old 10-16-2018, 02:38 PM
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If you can still find them at AAA motor club, traveler's cheques are a very safe way to travel with large sums of $$$$$$$.
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  #12  
Old 10-16-2018, 02:44 PM
t walgamuth's Avatar
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Thanks guys!

Tom
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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.
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  #13  
Old 10-16-2018, 09:17 PM
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https://www.americanexpress.com/us/content/prepaid/travelers-cheques.html?vgnextchannel=95ddb81e8482a110VgnVCM100000defaad94RCRD


good at hotels and restaurants across the country. Safe and the best part is when you get home you don't owe a lot of money on your credit cards.



I've always enjoyed the peace of mind they bring......
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