What's up guys and gals.. This is my first post here or whatever and I'm happy to bring my story of being pissed off today.. So I meet up with this guy yesterday selling his 2001 S2000.. it's really nice etc etc. I told him I'd buy it, we agreed on the price, and today I presented him with a Cashier's Check for the total amount.. we went to his bank and deposited it and agreed that I could wait for the Title to be delivered until all the funds had cleared.. whatever that's fine.. I say just give me the bill of sale and the keys and I'm good. Then the shit really hits the fan.. This dude was apparently assuming that he is keeping the CARRRRRRRRRR until all the funds clear on a certified Cashiers Check. not only that.. this fool DIDN't HAVE A BILL OF SALE.. he asked me why he needed one??!?!?!?!?!?!?! Man I'm so pissed.. I got the bill of sale sorted out with him finally.. but what the #### am I supposed to do now? The bank reciept says it will be 2 weeks until all funds are available.. and this guy really wants me to wait! He has my money, the title, and the car.. DOn't take it the wron way.. he seems legit enough.. I have all his info, but with all the cars I've bought or sold this is definitely not the common practice.. or am i missing something?

 

Not conventional.
You certainly have yourself a situation, but these days, BOTH parties need to protect their interest. It sounds like this has already occurred... not much you can do, except wait it out (you say you now have a bill of sale, written in his own hand; I presume you know where he lives, right? Anyone witness the transaction?) If you don't trust him, you might be able to put a STOP PAYMENT on that check (I'm not in the banking industry, not sure if you can stop a cashiers check). If so, maybe you could inform him of that and work out (after everybody cools off) a more favorable deal. Sorry, not much help... I pray it goes OK for ya.
BTW, did you have the mechanicals checked (compression test/leakdown performed)... wouldn't want to see you get burned after the sale
If this doesn't go through, here is a thread (for future reference) on things you might want to check: https://www.s2ki.com/forums/index.php?showtopic=483659

 

Wait it out and give him two weeks to skip town? Get the money back tomorrow, and if he hems at all, call the police. You paid, so you get the car or your money back. Don't wait.

Since when do you need to wait to clear funds on a certified cashier's check, anyway? If the check didn't clear, yes, put a stop payment on it. That is guaranteed money to the seller, so you should have the title.

 

hope he doesn't dump the clutch at redline

 

I agree. A cashier's check is pretty much the same as cash. I would put a stop payment as well on the check and figure out another way to work out this deal.

You can never be too careful with people these days, no matter how "legit" they "seem".

 

Hey guys, thanks for all your advice.. I went home and steamed for awhile after it all happened.. Then out of nowhere about 5 hours after the whole incedent, the guy called and asked if I could get the car insured in my name today.. I said sure, and he met up with me and handed over the keys.. I was happy about that.. but when I got home, I realized he didn't give me any of the cars paperwork (Safety Inspect, Registration, etc) so I called back like WTF.. and he met me again and gave me all that.. So I almost have the entire situation turned around now.. I can rest easy thank goodness. Anyway.. I've been riding crotch rockets for a while, and well while the S2K does not compare in straight line speed.. it definitely holds a candle in the corners. It's wierd moving from bikes to cars.. I spun out once like an idiot just trying to see what I could do. then decided to just take it easy.. Nice car, can't wait to start on some mods..

 

I almost forgot the biggest drawback of the S2000.. it can't do wheelies like my bikes.. But it'd be cool if it did.

 

took some pictures today, just to take pictures. 40,500 miles as of today.





See you on the streets!

 

congrats ! and for future potential owners.

cashier checks are like CASH, otherwise what's the point of having people transfer their funds into one? might as well just write a check.

if seller is reluctant to release the vehicle write him a contract or something, or get a banker of his chocie and ask the banker to explain to him what cashier check means.

again, congrats! owning a s2k in hawaii must be a trip!

 

Congratulations, glad it worked out for ya! Nice pics, enjoy your ride all year round