Selling my Mustang

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I've had my 1984 Mustang for sale for a few months now I finally got a reasonable offer The problem is that the buyer is 2 1/2 hrs away and doesn't want to carry that much cash that far He wants to bring a Bank Check drawn on his money market account Is this safe? Am I being too picky wanting cash only?
 
Meet him at your bank, or a branch of his. Either get a certified check (or cash) from his bank, or have him do a wire transfer to yours.
 
Have his bank do the check right in front of you, or give you cash.

If he has an online only bank. pass.. too many fake cashiers checks here.
 
Originally Posted by Jarlaxle
Meet him at your bank, or a branch of his. Either get a certified check (or cash) from his bank, or have him do a wire transfer to yours.


OR

Have in send you a photo of the check and then call his bank to verify issuance.
 
I guess the real question is would you have a problem carrying $9000 on a 2 1/2 hr Drive to buy a car you wanted? I would have no problem doing it
 
Originally Posted by Kira
How much is this '84 Mustang that he doesn't want to carry "that much cash"?

What's he doing, coming by stagecoach?

lol.gif
 
I have carried large amounts of cash for a vehicle transaction before. Had my favorite shotgun and a pistol along as friends. slept with my shotgun handy. 3.5 inch #2 turkey loads can do much damage. i NEVER NEEDED ANY OF IT. Remember, over 10K in cash gets reported by the bank. so split if up.

Rod
 
I always do the transaction at the bank. Beforehand I make sure to ask the account manager how to ensure the transaction is a success and we follow the procedure. Every bank is a little different. The deposit into my account is immediate and safe.
 
When I was a kid I worked as a book-keeper at a car dealership. We had a certified cheque not honoured by our bank. I complained at the bank, but they said they could do that. I asked my sister (who worked at another branch of the same bank) about it and even she gave me some hocus pocus answer. But in the end - we didn't get the money.

I thought a certified cheque was as good as cash, but it seems not.

If I was getting a significant amount of money from an individual, especially in a car deal where I was giving up the car, I'd prefer cash.
 
Originally Posted by SilverGt
I guess the real question is would you have a problem carrying $9000 on a 2 1/2 hr Drive to buy a car you wanted? I would have no problem doing it


Thing is, if you happen to get stopped and searched by a LEO expect that money to disappear forever. Civil asset forfeiture laws being what they are.
 
being a car and craigslist you are also a big target for scammers.. take every precaution.. OTOH I could legit see some guy not wanting to bring 9000$ to some random craigslist possible flake person... and getting robbed/shot/buried in a field.

so meet at his bank and get cash fixes both concerns. I can see both sides on this but anyone who truely wants the car can make it happen.

if they are stuck on online bank or giving you a check and cant understand your concern then its a scam most likely.

Alternatively he could meet you , not bring cash.. and give you a deposit.. then you could meet him for the rest at a police station etc..

there are plenty of ways to arrange it safely if its not a lowlife trying to scam you.
 
As someone who recently took cash for a slightly lesser amount on a car transaction.

Meet him at a branch of his bank and verify the funds. Just counting that kind of cash is a pain in the rear and frankly the cash has as high of a probability of being fake as the check, if you do take cash get one of those markers...
 
Originally Posted by DuckRyder
As someone who recently took cash for a slightly lesser amount on a car transaction.

Meet him at a branch of his bank and verify the funds. Just counting that kind of cash is a pain in the rear and frankly the cash has as high of a probability of being fake as the check, if you do take cash get one of those markers...


Markers dont work. all they have to do is use the right material.
they are near useless unless you get really shoddy fakes such as the ones with chinese characters in the corner.. and wrong president on bill.
Its part of my job to know how to verify real cash.. there are some really good fakes out there now.
check bill for watermark, strip, and other security features is only way.
 
Originally Posted by ragtoplvr
I have carried large amounts of cash for a vehicle transaction before. Had my favorite shotgun and a pistol along as friends. slept with my shotgun handy. 3.5 inch #2 turkey loads can do much damage. i NEVER NEEDED ANY OF IT. Remember, over 10K in cash gets reported by the bank. so split if up.

Rod


No 1: Please don't provide advice on how to violate the Bank Secrecy Act.

No 2: The Bank can, unbeknownst to the OP, file a SAR if they suspect the OP is trying to structure his/her deposits in order to avoid a CTR. . Structuring is a federal offense and old ladies have been prosecuted for it.
 
In my business, I have out of state customers do wire transfer into my checking account. Small price to pay for guaranteed quick access to funds to keep project moving forward, but in my case, I want to keep track of the funds. Won't help if you want a cash transaction.
 
Consider that one of the 5,000,000 excuses people use every day when they're trying to steal your car. Cash, or no deal. I don't even want to see a "cashier's check" because when it turns out to be a fake, you're SOL. Wait for a good, cash buyer. A Fox will sell unless you're grossly overpriced.
 
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