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I have a buyer for my Type R coming down from Boston on Saturday and he will be presenting me a check from his bank.

The problem is that the banks are closed on Saturdays and considering the fact that I will never see him again, I have little recourse should something go wrong with the payment.

I've called my credit union and such a check is not considered guaranteed funds until it is deposited in my account Monday morning, when the car is 600 miles away.

The only solution would be to have the funds wired to my account tomorrow, but that probably won't fly. I wouldn't give anyone the funds until I saw the vehicle either.

Any experience or advice besides telling the guy to come during a weekday, which doesn't sound like an option (he has a ride down here Saturday).

thanks!
Matt

money order?

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'08 Fit: tried hard, still not a race car. now retired

No way he drives away in a car of mine leaving just a check. Cash or wire transfer to the bank only. Otherwise, no deal. If he is willing to call the deal off just because you're not satisfied with the conditions of the sale, then you should be fine with that.

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Has no responsibility whatsoever.

Cash is always nice.

Another choice is keep him here and drunk until Monday when the bank opens.

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George Bright Member # 141
One of the youngest of the old farts.
Yes I voted against you joining the club.

This is a perfect example of the need for an escrow account.

https://www.escrow.com/index.asp

This protects both parties and gives you both comfort, granted, at a cost. - AB

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'14 Toyota Sequoia Platinum 4WD
Super Westerfield Bros - '93 Integra - LeChump Du Jour
STX 93 - Scion FR-S

In these cases I'm personally fine trusting a BANK (ie. Cashier's) check. He should be able to get one of those and if he doesn't like the car he can get a refund from his bank for it. Works for everyone. But I'd only trust a bank check from a bank I had at least heard of before.


--Donnie

If you are going to do the bank check route, you could also call the bank and confirm his identity and maybe confirm also that they are cutting the check for him.

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'07, '08, '11 Autocross VP
'06, '10 Mike Dishman Cup
'21 MX5, '13 Corvette GS, '92 Corvette 383 c.i. 413whp/390wtq, '03 Expedition

Les and Donnie, I feel the same way. I'm going to get him to fax a copy of the check made out to me tomorrow and confirm the check with his bank.

After speaking with one of the VP's at the SECU that I buy cars with, she assured me that the only issue I could have with a certified, bank-issued check is that it may be ficticious, which I can verify tomorrow by calling the bank.

thanks guys,
-M

I just went through this Matt and I was the buyer. I bought my replacement Z06 from a guy in VA. Almost WV. We both use Credit Unions. We both called our respective Credit Unions and got exactly what each wanted.

So I go up there with certified check and proof of funds from my Credit Union. A letter on their stationary from a Loan Officer that says the check is real and covered. When I get there his Loan Office calls mine and they exchange some info about guarantee transfer whatever. They give me a bill of sale and the clear title. He has funds available immediately to pay of loan balance.

I drive away with the car I want with clear title and bill of sale. His loan is paid off and the balance is in his checking account. Everyone is happy. There were no issues at all.

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http://www.greywinds.com

I still say you are a short bus monkey for selling it.

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Silver Honda
Green Ford
Blue/White Suzuki
Red Triumph
Grey BMW

"Never let life be shaped by fear of its end"

No, you're a towel!

??? Did I miss something?

Graham, thanks for that info. The only issue in my case is that we're doing this tomorrow and the bank's closed and I'll be getting verification today but it sounds like the same situation pretty much.

Marcus- I told the guy buying it, to call me when he decides to sell it in a couple of years.

I'm going to miss #50 as soon as it leaves my sight. In the meantime I'll have to learn how to get faster in the //M.

Some banks are open on Saturday morning.

Bank of America (Apex)
CFCU at High House and Davis Dr

there must be others

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"Ruttin' is racing"

Chris Suich
Apex, NC
AutoX 2012 Nissan Leaf (Quietly changing the world)
AutoX 2003 Mini Cooper S (on sabbatical)
RallyX 1993 Nissan Sentra - "Le Tigre"
FunX 1970 Camaro LT1 ('95)

BoA at Maynard and Harrison is as well.

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Stephen Westerfield
2009 Infiniti M35 | 2007 Honda Fit Sport | 2005 Ford Mustang GT |2000 GMC Sierra |1992 Acura Integra LS | Super Westerfield Bros Acura Integra

I never really posted about it since I wasn't sure if it was going to become a legal battle. So far it looks like it won't. Since this is a semi-private forum I'll make a new post about it. They took 100% acceptance for blame.

On my way to see my spine surgeon. 7 weeks post op on back surgery. Driving down I85 to Salisbury. I got hit more or less by a tractor trailer. MY silver Z06 saved me, it didn't fair so well, totaled. The accident dislodged my spine and ruined my back surgery. Now I have to do another surgery. I kept quiet about it because of the legal stuff and I was just depressed.


Anyway don't want to could up Matt's post.

Matt as the seller you want a valid check. As the buyer he wants a receipt and clear title. Life will be good for both of you.

Graham

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http://www.greywinds.com