Cashiers Check!

[kingcobra10]

Here is my situation. I have a guy coming to look at my Cobra Sunday He said he can give me $1,500 cash and a cashiers check for the rest. I told him I really didn't feel comfortable with a cashier check. He gave me the check number and his banks phone#. I called his bank and they verified that the cashiers check had been made out to me and it was a legitimate check. Would you say that this is a legitimate transaction? We also agreed that I would not give the title to him until the check had cleared. I feel safe with this deal. what do you guys think?

 

[SID297]

Here is my situation. I have a guy coming to look at my Cobra Sunday He said he can give me $1,500 cash and a cashiers check for the rest. I told him I really didn't feel comfortable with a cashier check. He gave me the check number and his banks phone#. I called his bank and they verified that the cashiers check had been made out to me and it was a legitimate check. Would you say that this is a legitimate transaction? We also agreed that I would not give the title to him until the check had cleared. I feel safe with this deal. what do you guys think?

If he can get a check he can get cash.

 

[SVT F15O]

If he can get a check he can get cash.

Not if that cashier's check is based on a secured auto loan.

 

[kingcobra10]

He got a loan for it so they could not give him cash is what his reason was.

 

[thomas91169]

Not if that cashier's check is based on a secured auto loan.

if that was the case then wouldnt the lender ask to have the seller come to the institution in person?

every time ive ever gotten a loan through a bank/CU ive had to have the seller meet me there. Every time ive sold a car to someone financing ive had to go to their institution.

 

[UncleSAm]

The check isn't a personal check, this check can't bounch so its safer and as good as cash

He might be giving you the cash from him and the check could be a loan and or from someone else who's helping him buy the car.

I prefer a cashiers check then most other ways

98 bab Cobra

 

[Ken03KBGTvert]

Google the phone number he gave you to call the bank, verify it's a legit number, call them back again and speak to different person than you did last time and verify it once again, then I'd say your'e good to go. Make sure number on cashiers check matches number you verified with bank.

 

[kingcobra10]

if that was the case then wouldnt the lender ask to have the seller come to the institution in person?

every time ive ever gotten a loan through a bank/CU ive had to have the seller meet me there. Every time ive sold a car to someone financing ive had to go to their institution.

I bought the car with a loan also. the seller did not have anything to do with the process

 

[Ken03KBGTvert]

if that was the case then wouldnt the lender ask to have the seller come to the institution in person?

every time ive ever gotten a loan through a bank/CU ive had to have the seller meet me there. Every time ive sold a car to someone financing ive had to go to their institution.

Twice I've got a cashiers check from my credit union and taken to the person I was buying the car from, both times I was buying the car from someone out of state, one was private party and the other was a dealer. My bank needed the info for the car both times but the "seller wasn't required to be present.

:beer:

 

[thomas91169]

I bought the car with a loan also. the seller did not have anything to do with the process

Twice I've got a cashiers check from my credit union and taken to the person I was buying the car from, both times I was buying the car from someone out of state, one was private party and the other was a dealer. My bank needed the info for the car both times but the "seller wasn't required to be present.

:beer:

damn, you guys have awesome banks.

must be because im white.

 

[kingcobra10]

damn, you guys have awesome banks.

must be because im white.

lol

 

[FCCS]

I accepted a Cashier's Check and a Personal Check for a sale in 2010. Chase was the issuer of both. Each appeared legitimate. We took a drive to the Chase branch and waited 20+ minutes for the Loan Officer to verify the Cashier's check. It was issued about 60 miles away 2 hours before he showed up. Seeing how it was so new it took him forever, but it was good. A non-member fee of like $8 to cash the personal check. F that! Went down the road and deposited both.

 

[kingcobra10]

i would have just met him at the bank but his bank is 3 hours away and it is supposed to snow. so im not risking it in the Cobra

 

[Sinister04L]

Here is my situation. I have a guy coming to look at my Cobra Sunday He said he can give me $1,500 cash and a cashiers check for the rest. I told him I really didn't feel comfortable with a cashier check. He gave me the check number and his banks phone#. I called his bank and they verified that the cashiers check had been made out to me and it was a legitimate check. Would you say that this is a legitimate transaction? We also agreed that I would not give the title to him until the check had cleared. I feel safe with this deal. what do you guys think?

You covered your bases so you're good to go.

The check isn't a personal check, this check can't bounch so its safer and as good as cash

He might be giving you the cash from him and the check could be a loan and or from someone else who's helping him buy the car.

I prefer a cashiers check then most other ways

98 bab Cobra

It's not as good as cash unless you verify it's legit by the bank that issued it. I got burned on a motorcycle sale by a counterfeit BoA cashier's check. Thankfully I hadn't cancelled my insurance and I was able to claim theft by deception.

 

[canibus]

Sounds legit, hope it works out for you.

 

[Planter]

Twice I've got a cashiers check from my credit union and taken to the person I was buying the car from, both times I was buying the car from someone out of state, one was private party and the other was a dealer. My bank needed the info for the car both times but the "seller wasn't required to be present.

:beer:

x2. as long as the Bank is legit, and the person on the other end of the phone works for the bank, can't go wrong with this. i've done it a few times myself.

also helps to have your bank involved working with the employee for the bank on the other end, usually eases any fears or doubts. both banks fax each other the info, should be a smooth transaction.

 

[CobraBob]

I don't see any red flags and you did talk to the bank to confirm the check is good. As suggested, you could verify the phone number and call the bank back again, just to feel more comfortable. The buyer also said you wouldn't give him the title until the check cleared. Sounds like a safe transaction to me.

 

[SVT F15O]

damn, you guys have awesome banks.

must be because im white.

I'm white as well and never had to bring the seller to the bank before.
My brother uses a CU and has never had to bring a seller in before either.

 

[thepizz]

A cashiers check is a guarantee from the bank that the funds are secure and available. If you called and confirmed this already, then proceed.

 

[ZincYellowGT281]

I bought my car with a cashier's check, I had no problems.