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DWard
02-26-2007, 06:21 AM
To all buyers & sellers ----Is it standard procedure for sellers to request cash for the purchase of a car? I would think a cashiers chect would be more appropriate. For some reason, this makes me feel "suspect"----Dan

BobPalma
02-26-2007, 06:49 AM
:) Well, nobody ever stopped payment on CASH! :D

Seriously, Cashier's Checks can be stolen. Even if a Cashier's Check is good when tendered, the buyer can stop payment on it. It is fraudulent to do so if it was tendered in good faith for the merchandise purchased, but that doesn't mean it can't be done...and be a real PITA to get straightened around legally after the fact. :( BP

BobPalma
02-26-2007, 06:49 AM
:) Well, nobody ever stopped payment on CASH! :D

Seriously, Cashier's Checks can be stolen. Even if a Cashier's Check is good when tendered, the buyer can stop payment on it. It is fraudulent to do so if it was tendered in good faith for the merchandise purchased, but that doesn't mean it can't be done...and be a real PITA to get straightened around legally after the fact. :( BP

DEEPNHOCK
02-26-2007, 06:50 AM
"Shields Up!"
All forms of an auto transaction should be treated with scrutiny, especially if done remotely. I have paid (and been paid) cash money for cars before, and never had a problem. But I always write up two 'bill of sale' and have dual signatures on them both (longhand if neccesary). Best to deal face to face, and have the title signed over and all the details worked out before pulling out the wad of cash.
Jeff[8D]


quote:Originally posted by DWard

To all buyers & sellers ----Is it standard procedure for sellers to request cash for the purchase of a car? I would think a cashiers chect would be more appropriate. For some reason, this makes me feel "suspect"----Dan


http://i77.photobucket.com/albums/j54/deepnhock/Jeff%20Rice%20Studebaker%20Pictures/1937StudebakerCoupeExpressJeffRicee.jpg

DEEPNHOCK at Gmail.com
Brooklet, Georgia
'37 Coupe Express (never ending project)
'37 Coupe Express Trailer (project)
'61 Hawk (project)
http://community.webshots.com/user/deepnhock

DEEPNHOCK
02-26-2007, 06:50 AM
"Shields Up!"
All forms of an auto transaction should be treated with scrutiny, especially if done remotely. I have paid (and been paid) cash money for cars before, and never had a problem. But I always write up two 'bill of sale' and have dual signatures on them both (longhand if neccesary). Best to deal face to face, and have the title signed over and all the details worked out before pulling out the wad of cash.
Jeff[8D]


quote:Originally posted by DWard

To all buyers & sellers ----Is it standard procedure for sellers to request cash for the purchase of a car? I would think a cashiers chect would be more appropriate. For some reason, this makes me feel "suspect"----Dan


http://i77.photobucket.com/albums/j54/deepnhock/Jeff%20Rice%20Studebaker%20Pictures/1937StudebakerCoupeExpressJeffRicee.jpg

DEEPNHOCK at Gmail.com
Brooklet, Georgia
'37 Coupe Express (never ending project)
'37 Coupe Express Trailer (project)
'61 Hawk (project)
http://community.webshots.com/user/deepnhock

go-studebaker
02-26-2007, 07:22 AM
Hi Bob,
I was under the impression, that a cashiers cheque can be stopped, but if it is cashed into the account of the payee, the bank will always honor it weather there was a stop on the cheque or not.

Other than that Cash is always King

Greg

Greg Diffen
Australian Stude nut living in Warwick, United Kingdom

1933 St Regis Brougham Model 56 Dutch delivered
1937 Dicator sedan. Australian Body by TJ Richards
1939 Packard Seven Passenger monster UK delivered
1939 Commander Swiss Cabriolet by Lagenthal
1988 Avanti Convertible

go-studebaker
02-26-2007, 07:22 AM
Hi Bob,
I was under the impression, that a cashiers cheque can be stopped, but if it is cashed into the account of the payee, the bank will always honor it weather there was a stop on the cheque or not.

Other than that Cash is always King

Greg

Greg Diffen
Australian Stude nut living in Warwick, United Kingdom

1933 St Regis Brougham Model 56 Dutch delivered
1937 Dicator sedan. Australian Body by TJ Richards
1939 Packard Seven Passenger monster UK delivered
1939 Commander Swiss Cabriolet by Lagenthal
1988 Avanti Convertible

8E45E
02-26-2007, 07:53 AM
[quote]Originally posted by DWard

To all buyers & sellers ----Is it standard procedure for sellers to request cash for the purchase of a car?

My mom paid CASH for a brand new car in 1981! She said she was waiting for the day she could walk into a new car dealer's and hand over 100's, 50's, and 20's and drive away with a new car!!. Of course, the dealer was more than happy for the business, regardless if it was cash or credit.

Craig.

8E45E
02-26-2007, 07:53 AM
[quote]Originally posted by DWard

To all buyers & sellers ----Is it standard procedure for sellers to request cash for the purchase of a car?

My mom paid CASH for a brand new car in 1981! She said she was waiting for the day she could walk into a new car dealer's and hand over 100's, 50's, and 20's and drive away with a new car!!. Of course, the dealer was more than happy for the business, regardless if it was cash or credit.

Craig.

tstclr
02-26-2007, 08:50 AM
I requested cash when I put my Lark on ebay simply for the reason that there is too much fraud out there.
Todd


63 Lark 2dr Sedan
http://i31.photobucket.com/albums/c351/tstclr/larkavitar.jpg

tstclr
02-26-2007, 08:50 AM
I requested cash when I put my Lark on ebay simply for the reason that there is too much fraud out there.
Todd


63 Lark 2dr Sedan
http://i31.photobucket.com/albums/c351/tstclr/larkavitar.jpg

DEEPNHOCK
02-26-2007, 09:01 AM
You broght up some old memories that made me laugh...
My mom has always bought her new cars for cash..
She would make her deal with the dealer, and if the freebie was good enough, she'd buy the car...
Be it a bottle of champaign, or a clock, or something strange like that[:p]... A string of pearls came with a Torino one time IIRC..
I always went along to put my name in and get the bird-dog fee;)
Jeff[8D]


quote:[i]Originally posted by 8E45E
My mom paid CASH for a brand new car in 1981! She said she was waiting for the day she could walk into a new car dealer's and hand over 100's, 50's, and 20's and drive away with a new car!!. Of course, the dealer was more than happy for the business, regardless if it was cash or credit.
Craig.


http://i77.photobucket.com/albums/j54/deepnhock/Jeff%20Rice%20Studebaker%20Pictures/1937StudebakerCoupeExpressJeffRicee.jpg

DEEPNHOCK at Gmail.com
Brooklet, Georgia
'37 Coupe Express (never ending project)
'37 Coupe Express Trailer (project)
'61 Hawk (project)
http://community.webshots.com/user/deepnhock

DEEPNHOCK
02-26-2007, 09:01 AM
You broght up some old memories that made me laugh...
My mom has always bought her new cars for cash..
She would make her deal with the dealer, and if the freebie was good enough, she'd buy the car...
Be it a bottle of champaign, or a clock, or something strange like that[:p]... A string of pearls came with a Torino one time IIRC..
I always went along to put my name in and get the bird-dog fee;)
Jeff[8D]


quote:[i]Originally posted by 8E45E
My mom paid CASH for a brand new car in 1981! She said she was waiting for the day she could walk into a new car dealer's and hand over 100's, 50's, and 20's and drive away with a new car!!. Of course, the dealer was more than happy for the business, regardless if it was cash or credit.
Craig.


http://i77.photobucket.com/albums/j54/deepnhock/Jeff%20Rice%20Studebaker%20Pictures/1937StudebakerCoupeExpressJeffRicee.jpg

DEEPNHOCK at Gmail.com
Brooklet, Georgia
'37 Coupe Express (never ending project)
'37 Coupe Express Trailer (project)
'61 Hawk (project)
http://community.webshots.com/user/deepnhock

Dick Steinkamp
02-26-2007, 09:39 AM
As a seller, I have no problem taking a cashiers check or a personal check...but the buyer doesn't get the vehicle or the title until the check clears. Cashiers checks can be fakes almost as easily as personal checks can be bad.

I like wire transfers the best. The money is in your account and verified good the same or the next day. The cost for a wire transfer is generally the same as a cashiers check.

http://thenobot.org/images/s2d/s2d_01.jpg

Dick Steinkamp
02-26-2007, 09:39 AM
As a seller, I have no problem taking a cashiers check or a personal check...but the buyer doesn't get the vehicle or the title until the check clears. Cashiers checks can be fakes almost as easily as personal checks can be bad.

I like wire transfers the best. The money is in your account and verified good the same or the next day. The cost for a wire transfer is generally the same as a cashiers check.

http://thenobot.org/images/s2d/s2d_01.jpg

raprice
02-26-2007, 10:56 AM
Almost all old car sales that I'm familiar with, including my own, have been cash transactions. It's a lot cleaner that way without the probability of fraud.
The negative side of that is when it comes to a long distance transaction. Then it's more difficult.
Rog

'59 Lark VI Regal Hardtop

raprice
02-26-2007, 10:56 AM
Almost all old car sales that I'm familiar with, including my own, have been cash transactions. It's a lot cleaner that way without the probability of fraud.
The negative side of that is when it comes to a long distance transaction. Then it's more difficult.
Rog

'59 Lark VI Regal Hardtop

JDP
02-26-2007, 11:28 AM
While I've paid cash for ebay sales many times, I seldom see that as the only option. Most of my purchases are made by personal checks (cleared before pickup)

64 Commander 2 dr.
64 Daytona HT
63 R2 4 speed GT Hawk (Black) #2
63 Avanti R1
63 Daytona convert
63 Lark 2 door
63 Lark 2 door #2
62 Daytona HT/ 4 speed
62 Lark 2 door
62 GT Hawk 4 speed
60 Lark HT
60 Hawk
59 3E truck
52 Starliner
51 Commander

JDP
02-26-2007, 11:28 AM
While I've paid cash for ebay sales many times, I seldom see that as the only option. Most of my purchases are made by personal checks (cleared before pickup)

64 Commander 2 dr.
64 Daytona HT
63 R2 4 speed GT Hawk (Black) #2
63 Avanti R1
63 Daytona convert
63 Lark 2 door
63 Lark 2 door #2
62 Daytona HT/ 4 speed
62 Lark 2 door
62 GT Hawk 4 speed
60 Lark HT
60 Hawk
59 3E truck
52 Starliner
51 Commander

John Kirchhoff
02-26-2007, 04:10 PM
Hmmm, so you're saying that if a Nigerian speaking the King's English shows up with a cashiers check for more than I want and asks for cash back as well as my youngest daughter and two goats, I should be somewhat cautious?

Around here banks have put a limit on how many times a check can be endorsed. Amish have been notorious for using a check for multiple transactions between neighbors and they'd come in with 6, 8 or 10 different signatures on the back. They almost needed to staple an additional piece of paper to the check for more room!

John Kirchhoff
02-26-2007, 04:10 PM
Hmmm, so you're saying that if a Nigerian speaking the King's English shows up with a cashiers check for more than I want and asks for cash back as well as my youngest daughter and two goats, I should be somewhat cautious?

Around here banks have put a limit on how many times a check can be endorsed. Amish have been notorious for using a check for multiple transactions between neighbors and they'd come in with 6, 8 or 10 different signatures on the back. They almost needed to staple an additional piece of paper to the check for more room!

pitbulllady
02-26-2007, 04:56 PM
One of the reasons, I suspect, that many sellers are requesting cash nowadays is due to the proliferation of internet scammers, especially based overseas. The scam is that the "buyer" responds to the ad, then sends a cashier's check for the item, but calls and tells the sellar that they accidentally purchased a cashier's check for xxx amount of money over the selling price, and request that the seller remit the excess amount back to them ASAP. The sellar agrees, wiring the "buyer" the difference in their asking price and the amount of the cashier's check, only when the cashier's check arrives, it's either bogus, or the "buyer" has already stopped payments on it, and has already gotten the sellar's money that supposedly was the excess amount of the cashier's check. Believe it or not, I know many people who've fallen for this scam, and I've had "Dear John" email responses to items I've had up for sale via the 'net, that clearly were up to the same thing.

pitbulllady

pitbulllady
02-26-2007, 04:56 PM
One of the reasons, I suspect, that many sellers are requesting cash nowadays is due to the proliferation of internet scammers, especially based overseas. The scam is that the "buyer" responds to the ad, then sends a cashier's check for the item, but calls and tells the sellar that they accidentally purchased a cashier's check for xxx amount of money over the selling price, and request that the seller remit the excess amount back to them ASAP. The sellar agrees, wiring the "buyer" the difference in their asking price and the amount of the cashier's check, only when the cashier's check arrives, it's either bogus, or the "buyer" has already stopped payments on it, and has already gotten the sellar's money that supposedly was the excess amount of the cashier's check. Believe it or not, I know many people who've fallen for this scam, and I've had "Dear John" email responses to items I've had up for sale via the 'net, that clearly were up to the same thing.

pitbulllady

azrael4h
02-26-2007, 05:46 PM
It's an unfortunate facet of the internet, like everything else. There will be those who will steal everything you have up to and including your underwear. I read a story on another forum of a member who had a '69 Dodge Charger R/T taken in this manner. AFAIK, he never got it back. I personally wouldn't allow pickup until the full amount is in the bank.



Guard: Where are you going in such a hurry?
Gorrak the ranger: Uhhh...Gorrak have quiche in oven!!
Guard: well hurry along.

1953 Champion 2 door Sedan
2006 Chevrolet Cobalt LS Coupe

azrael4h
02-26-2007, 05:46 PM
It's an unfortunate facet of the internet, like everything else. There will be those who will steal everything you have up to and including your underwear. I read a story on another forum of a member who had a '69 Dodge Charger R/T taken in this manner. AFAIK, he never got it back. I personally wouldn't allow pickup until the full amount is in the bank.



Guard: Where are you going in such a hurry?
Gorrak the ranger: Uhhh...Gorrak have quiche in oven!!
Guard: well hurry along.

1953 Champion 2 door Sedan
2006 Chevrolet Cobalt LS Coupe

richpease
02-26-2007, 10:34 PM
Personally I have paid cash for the cars I bought. The one exception was when I bought my 1st car on credit from my dad. He kept a spare set of keys and threatened that if I was late with payments he'd repossess the car. SInce we both have the same name, he'd have been able to get the title back too! That taught me never to get into hock on a sale.

As for those I have sold, cash or cashier's check. I did have the guy I sold my '59 to try to talk me down after he drove 4 hours to get the car, but I just held firm and he came across with the whole amount in cash.

Rich Pease
Torrance, CA

richpease
02-26-2007, 10:34 PM
Personally I have paid cash for the cars I bought. The one exception was when I bought my 1st car on credit from my dad. He kept a spare set of keys and threatened that if I was late with payments he'd repossess the car. SInce we both have the same name, he'd have been able to get the title back too! That taught me never to get into hock on a sale.

As for those I have sold, cash or cashier's check. I did have the guy I sold my '59 to try to talk me down after he drove 4 hours to get the car, but I just held firm and he came across with the whole amount in cash.

Rich Pease
Torrance, CA