Sold vehicle- money order/bank check safe?

DYI hunting · Jul 16, 2010

I sold a vehicle for several thousand dollars and need to accept payment. Buyer doesn't want to carry that much cash on his person.

Are bank counter checks or money orders safe alternatives? I have never had to deal with this much money in a sale.

WTM45 · Jul 16, 2010

Bank checks only. You can also call the issuing bank branch to verify it before acceptance (during banking hours).
Money orders, to include the USPS ones are too easily forged.

DYI hunting · Jul 16, 2010

WTM45 said:
Bank checks only. You can also call the issuing bank branch to verify it before acceptance (during banking hours).
Money orders, to include the USPS ones are too easily forged.

Wow, thought USPS MO were the safest bet. Think I am going to ask for cash, much safer feeling.

gtjackson · Jul 16, 2010

If it's local, have the buyer meet you at his bank. He gives you the cash, you sign over the title.

Ole Fuzzy · Jul 16, 2010

A cashier's check is typically referred to as an Official Check within the business.

Accept only if drawn on a bank in the US and GA.

So called cashier's checks from the Carribean are not the same and can be stopped much more easily.

gobbleinwoods · Jul 16, 2010

for a small fee he can get his bank check certified.

otherwise he can stop payment or all kinds of other things can go wrong if you feel uneasy be safe.

Now I have accepted checks before for a vehicle but always wondered, is it going to be good. Also, your bank might not give you access to the funds for up to a week while they wait to ensure nothing goes wrong.

scottypp · Jul 16, 2010

can't even be too safe with cash anymore- got a fake $50 bill at the fair in Perry last year.

Twenty five ought six · Jul 16, 2010

DYI hunting said:
Wow, thought USPS MO were the safest bet. Think I am going to ask for cash, much safer feeling.

Postal money orders are safe. They can be verified by any post office, or bank. You can even cash a postal money order at a post office, subject to funds availability.

I wouldn't accept any other money order for a large purchase.

A counter check is just a personal check that doesn't have the account information printed on it --I'm sure that's not what you meant. It's called a "counter check" because they used to sit out on the counters (and at the cash registers in small towns) and the account holder would just fill in the account name. Those days have long gone.

You should get either an official bank check or a certified check --there's a difference that's not real important to you. Make it clear that you will only accept the check during your bank's business hours. Then take the check to your bank --they can verify it through a bank network, and place a hold on the funds.

The really really safe way is to have him purchase a certified check from a bank that has a local branch, and then cash the check at that branch.

It's a matter of preference, but for a casual sale for someone who's not set up to run down a check, and with the proliferation of nationwide banking, I would insist on a check drawn on a bank with a presence in Georgia.

rjcruiser · Jul 16, 2010

Meet him at his bank and get the cash from him at his bank. That way, he doesn't have to worry about carrying that much cash out of the bank.

BASSCAT1 · Jul 16, 2010

Check???

If it doesn't feel right-- IT AIN'T. Go with your gut feeling.

FYI: I would only do cash.

Jim Thompson · Jul 16, 2010

gtjackson said:
If it's local, have the buyer meet you at his bank. He gives you the cash, you sign over the title.

without cash in hand, this is by far the safest method.

certified bank checks are forged daily

DYI hunting · Jul 16, 2010

Scary world when you can't trust a bank check, money order, or even cash for certain.

Buyer is out of state and is finishing finacning at his bank today hopefully. Sure wish it was a local sale with a local bank.

Redneck1919 · Jul 16, 2010

He can send cash to you through Western Union, available at most all Krogers, Walmart, and other places.

gtparts · Jul 16, 2010

gtjackson said:
If it's local, have the buyer meet you at his bank. He gives you the cash, you sign over the title.

rjcruiser said:
Meet him at his bank and get the cash from him at his bank. That way, he doesn't have to worry about carrying that much cash out of the bank.

BASSCAT1 said:
If it doesn't feel right-- IT AIN'T. Go with your gut feeling.

FYI: I would only do cash.

Jim Thompson said:
without cash in hand, this is by far the safest method.

certified bank checks are forged daily

Here is the truth if ever it has been given. Cash has my personal endorsement. Has the vehicle been picked up or delivered? Title?

Seems like a neutral location like a police station would also work for a safe cash transaction.

DYI hunting · Jul 16, 2010

Clear title, vehicle will be picked up at a parking lot near the interstate. He never called back, I hope that is not a bad sign.

Gaducker · Jul 16, 2010

DYI hunting said:
Scary world when you can't trust a bank check, money order, or even cash for certain.

Buyer is out of state and is finishing finacning at his bank today hopefully. Sure wish it was a local sale with a local bank.

Walk away fast, If he can get a check he can get cash and you can get a pen from office max and check every single bill. I have been caught up in a big mess because someone took a cashiers check. Walk away if he wont bring you cash.

wabbithunter · Jul 16, 2010

Car

If you take any kind of check hold the car and title untill it clears the bank.Takeing a big chance if you don't.

Miguel Cervantes · Jul 16, 2010

Last one I sold I met the person at the bank, let the bank rep notorize the transaction and verify the funds on the check. Quick, easy and safe.

robertyb · Jul 16, 2010

Miguel Cervantes said:
Last one I sold I met the person at the bank, let the bank rep notorize the transaction and verify the funds on the check. Quick, easy and safe.

I bought a truck and delivered a Cashiers Check. I rode home in the truck but got the title after the check cleared.

Sold one and I met him at the bank and took a Cashiers check and delivered the title right then.

Cash usually works. Just look at all the bills and make sure the water marks and all are there.

If in doubt why are you selling?

specialk · Jul 17, 2010

DYI, not trying to derail your thread but i've got a question for the audience, suppose you are buying a used vehicle and are paying cash and is being financed through a manufacturer(lets say GMAC). What steps should you take to make sure the title is delivered to you? I've had this happen to me a couple of times and just felt a little uneasy doing it. The outcome was ok in both instances, but I really had nothing but a bill of sale in hand. The title was delivered to the seller and they delivered it to me. just wondering if there is anything else one could do.

Sold vehicle- money order/bank check safe?

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