WTB S2000 CR
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Joined: Apr 2012
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So it is more of a risk on the seller? Interesting. On occasion, about ten years ago I ran into few sellers that did not have car title when they sell. Make you wonder if they used fake cashier check.to buy the car in the first place so the owner never send them the title.
Joined: Sep 2010
Posts: 342
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From: Northeast Indiana
Wow I have never heard of this, are these local banks? I know the larger banks don't follow state regulations since they don't have to.
Either way I still don't see this as something to worry about. When I purchased my S it was from down South and the title went directly to the Credit Union as I would have expected it to. Legally the seller would lose and not get any where so pointless for them to keep it. Now I hear if you sell the car and its a bogus check the seller is SOL because they won't do anything and insurance won't either since its not physically stolen with you handing over the keys. Scary stuff!
Either way I still don't see this as something to worry about. When I purchased my S it was from down South and the title went directly to the Credit Union as I would have expected it to. Legally the seller would lose and not get any where so pointless for them to keep it. Now I hear if you sell the car and its a bogus check the seller is SOL because they won't do anything and insurance won't either since its not physically stolen with you handing over the keys. Scary stuff!
I know of another person who's son sold a car and the cashiers check turned out to be fake. He was out. When I bought her BMW Z4. She had a clean title in hand, but we still had to go to her bank to verify my cashiers check. I guess cash is king!!
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