Out of state car purchase question
- Thread starter f8-4life
- Start date
A bank wire transfer is better.
Mail is slow and you will need to make sure it "clears" before signing the title or letting the car go.
See what your local bank thinks they may have suggestions.
Mail is slow and you will need to make sure it "clears" before signing the title or letting the car go.
See what your local bank thinks they may have suggestions.
Cncguy1
Well-Known Member
You can call the bank to verify the check and that he has the money in his account.
SgtSuperbird
Well-Known Member
Bank wire transfer is probably the easiest and quickest way to go. Cashier's checks are safe, but as already stated, the mail is sloooooow right now, and even that check may need to clear.
f8-4life
Well-Known Member
Thanks for the responses. I called my bank, for a wire transfer they need me to provide my routing/account number to the buyer and my bank said I shouldn't give that info out to a 2nd party because it's not safe and they said a cashiers check is a good option. I just wanted to see if anybody can comfirm that.
Jessejames
Well-Known Member
Open a second checking or savings account with the minimum amount. Give the guy that account number then transfer the money into a different account once you receive the money.
Solid advice from an outlaw.
Jessejames
Well-Known Member
Lol!!
Jeremiah
Well-Known Member
Wire transfer is easiest. I don't like opening and closing accounts it's too much of an accounting headache. It's not like they can wire the money out of your account without your bank's approval. If you take a check make damned sure it clears and you have verified that the transaction cleared. Cash used to be cool until they started treating everyone like a criminal!
Friend sold a car, took a cashiers check. Buyer cancel the check and left the state with the car. Make sure check clears as stated earlier.
69L48Z27
Well-Known Member
A bank check can’t be cancelled. If it’s a legit bank check the buyer will lose/withdraw their funds when the bank writes the check. I’ve made a habit of asking for a picture of the check before the buyer shows up. I’ll then call that bank, looking up the number on my own, and ask for the manager. We chat and confirm they wrote the check, then validate it can’t be cancelled.
The only way I can get my money back out of a bank check is to either still have the bank check in my possession. Or, If it gets lost the bank says I have to wait 2+ weeks before they’ll cancel it and give me my money.
IMO bank checks are safe as long as you validate and confirm. If something stinks then bail.
The only way I can get my money back out of a bank check is to either still have the bank check in my possession. Or, If it gets lost the bank says I have to wait 2+ weeks before they’ll cancel it and give me my money.
IMO bank checks are safe as long as you validate and confirm. If something stinks then bail.
mr. b
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i sold two cars got bank checks had to wait seven days to clear all was good
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CASH !!!!
Ranger16
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Your account and routing number are on the lower left corner of every check you write.
72redbird
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I just sold one out of state and my credit union told me that a wire transfer was the safest way to do it. I did have a second account opened up for this. The routing number is actually public information from any bank. The funds he sent cleared and was in the account by the end of the day. Lady at my credit union also commented about the funds go through the FDIC, was not totally sure what she meant by that.
DownZero
Well-Known Member
Sold a RV to a out of state person. He flew in, met him at the airport then did the deal. I got a certified bank check, handed him the keys and he drove off. I kept the title and a spare set of keys. (Just in case I needed to repo it) after the check cleared I mailed him the title and spare keys. Transaction went smooth.
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