Question about a car loan and what can go bad
02-17-2012, 08:03 PM
#1
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Question about a car loan and what can go bad
Hey guys.
I want to go up north and buy a car. The buyer says the cashier check needs to be cleared.
If i deposite the money in her account after my bank processed the loan, what is the worst that can happen if i go up there and choose not to take the car.
I have a letter from them saying if i dont take the car they will refund me the money. Is there anything i should be concerned about?
Second question. If they play games with me and dont give me the car or i choose not to take the car and they take the money and dont give it back..... Will my bank make me pay for the car or will they fight to get the money back from them because it would be fraud.
Im just thinking outside the box for a second.
Thank you in advance
I want to go up north and buy a car. The buyer says the cashier check needs to be cleared.
If i deposite the money in her account after my bank processed the loan, what is the worst that can happen if i go up there and choose not to take the car.
I have a letter from them saying if i dont take the car they will refund me the money. Is there anything i should be concerned about?
Second question. If they play games with me and dont give me the car or i choose not to take the car and they take the money and dont give it back..... Will my bank make me pay for the car or will they fight to get the money back from them because it would be fraud.
Im just thinking outside the box for a second.
Thank you in advance
02-17-2012, 08:22 PM
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If I'm reading this correctly you want to deposit the money in her account before seeing/going up north to check out the car?
Why not just go up there, check out the car, then go to the bank together to have the cashiers check drafted after you come to an agreement on the price/if you decide to purchase it?
If your money is in a local credit union that does not have a branch located in her area then transferring the money to a larger bank would be the easiest way (that I know of) to do it.
Did they offer to write that letter? Something like that seems skeemish but I may be wrong.
Is this a private sale? The only time I've seen something like this was when I was looking at an s2k at one of those small lots where your not even allowed to test drive without proof of cash/ability to purchase.
Don't give them any money, go up to see/drive the car/have it inspected, then go get a cashiers check drafted together if she's still concerned. Don't put yourself in a situation where you could potentially get screwed over!
Why not just go up there, check out the car, then go to the bank together to have the cashiers check drafted after you come to an agreement on the price/if you decide to purchase it?
If your money is in a local credit union that does not have a branch located in her area then transferring the money to a larger bank would be the easiest way (that I know of) to do it.
I have a letter from them saying if i dont take the car they will refund me the money. Is there anything i should be concerned about?
Is this a private sale? The only time I've seen something like this was when I was looking at an s2k at one of those small lots where your not even allowed to test drive without proof of cash/ability to purchase.
Don't give them any money, go up to see/drive the car/have it inspected, then go get a cashiers check drafted together if she's still concerned. Don't put yourself in a situation where you could potentially get screwed over!
02-17-2012, 08:38 PM
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Did they ask to have the money transferred into their account before coming up?
And is it possible for you to have the cashiers check drafted up in norcal with them present? If so I would do that as its the simplest/safest way for both parties.
And is it possible for you to have the cashiers check drafted up in norcal with them present? If so I would do that as its the simplest/safest way for both parties.
Maybe a small deposit but not the full amount.
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