ok so this is my first car that im buying myself. great deal on a low mileage s2000. already test drove it and i agreed to buy and he agrees to sell. He lives over and hour and a half away. I have the cash in my checking account. he asked for me to take out a certified check for the amount so i could pay off his loan on the car (at his bank) to release the title so we can go sign it over to me.

so i go there yesterday and they say that i have a cashiers check and its not a certified check. the explanation behind the difference is that i can call a stop-payment on the cashiers check and it will bounce when they try and clear it. this means if i were to pay off the loan with it, it will take a few days for the check to clear and by then i would have already had the car and title in hand. So I go run around where he lives trying to find a bank of america (my bank) to see what we can do. my bank tells me they dont do certified checks. so i'm like great, my only other option it seems is to walk into his bank with 16 grand in cash. not really what i feel comfortable doing. none the less, i would have to call ahead and order that kind of cash so i can withdraw it.

so my question is, how am i supposed to go about this. i dont want to be left in a position to get screwed over and i dont want to leave him in that position either. but it seems any way i dice it, one of us is going to be left having to trust the other persons honesty. anyone else go thru this and have some sort of solution?ive been waiting 3+ weeks (since i chose to buy it) now to have this car and its very frustrating

 

Money order.

 

If you're having problems getting a certified check (post offices have these) then just bring cash. You'll be in a bank so what. I dropped a large amount of cash when I bought mine years ago and last week my wife and I bought a new car and dropped over $10k in cash on the spot. Calling ahead to get cash??? never heard of that.
Prior to leaving with the car, make sure you're insurance company is aware, meaning they have the vin number and you have the temperary id card. Then you'll also need plates. DMV has temps for some $$.

 

both banks i went to said they did not have 16k in cash in the bank. idk if thats true or not but they said i cant get it out. i dont feel too comfortable driving almost 2 hrs away with that much cash in my hand but i guess if thats my only option maybe ill do it.

also i thought you could only get money orders up to 1000$

 

I have always used cashier's checks, and they told the the whole point is that you can't put a stop payment on one.

If it is this much trouble, and only a 2 hour drive away, take cash but have him meet you at the bank and get there early, so you aren't robbed in the lot on your way in!

 

If a bank doesn't have that much $$$ find another one.

 

If you draw out 8k a day they should let you do that without filling out paper work. They shouldn't give you any trouble drawing it out either. I walked onto a dealership with 17k cash in hand. I mean you get the cash out take it home go back the next day get the rest then go buy the car. Theirs not much likely hood your going to be mugged. No one knows how much cash you have besides the teller. You could just right a check to the bank wait a couple days let it clear then go pick up the car.

 

i vote for use cashiers check, chill during the waiting period, and then going to get your car. its a car you like for a great deal. whats a couple days? u'r not willing to wait a couple days to have the car you really want to buy? not willing to wait in order to not worry about cash?

 

i would use the cashiers check only that means it would satisfy the loan the guy has on the car, but then what if he runs off and disappears, i lose 16k. i trust he wouldnt do that bc he seems like a good guy but neither of us want to be left in a position where someone has it all and the other has nothing for any period of time.

Thank you for all of your replies tho

 

Well, you've narrowed down your options to one choice then.