Need help! Trying to buy a 04 Cobra

[hcsvt04]

Here is the situation, I have been approved through penfed credit union to purchase a 04 cobra. The car that i'm interested in is located out of state, so i called penfed and let them know, they sd thats ok that they deal with it every day, that all they would need is copy of the title and a intent to sell letter from the seller faxed to them so they can cut the ck and i would just bring the ck to him when i actually go look at the car and make sure it is as described . My problem is when I told him that i would bring the certified funds from penfed an all we have to do is go by his bank so they can then verify the funds are good, he did not really wont to do it that way, he sd even if the funds are good that his bank would still put a hold on the funds for atleast 3-5 buisness days and he did not wont to release the title or the car to me until he the bank takes the hold off, he said he had been burned in the past and I know i'm rambling here but i need advise from others that have gone through the similar situation. What else can I do to reasure this guy that i'm not trying to scam him. Thanks

 

[mach1033]

Personally seems like of crap to go through. I would look at another car closer to you. Have you looked at the market section here on this site?

 

[10splaya22]

Seller seems sketchy, does he know it's different from a personal check? Have him call penfed to verify the funds are there

 

[TqMnster]

A certified check is same as cash in the eyes of a bank. Completely different that a regular check, hence the word CERTIFIED in the name. No need for a hold on those... Explain that to him if you really want the car and let him call his bank to clarify. Or just have him meet you at his bank and swap the funds/title there. They'll fill him in on the process

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