Well i’m gonna take out a loan from my credit union for a truck.
However, the owner of the truck will only accept cash.
For the life of me i cant remember if i can cash the loan check myself. Or if i have to sign it over to the seller.
Credit Union is open tomorrow at 9, but i wanna get back to this guy tonight.
mmmm, syclone
since you will be financing the truck. the credit union will have the title… i know for certain that they will not let you cash the check (it will be made out to him, not you, unless you’re just taking a personal loan)… what you can do is have the seller meet you at your credit union because they will cash it without putting a hold on it. but if this dude takes it to say national city and he doesn’t have the cash to cover the check in his account, they’ll put a hold on it until the check clears from your credit union. it doesn’t matter if it’s a certified check or not
yeah this jerk said he only wants cash, which has me wondering if something is wrong. The truck has been for sale for a couple months, but he said he doesnt want to wait 10 days for a check to clear.
That or he does’nt want to pay tax on the money. I believe you get taxed if you put more that $10,000 into the bank on the same day.
Write up a contract and take it too him with the cash,when he sees the cash in hand(urs) ansk him to sig nthe contract that nothing is wrong with the truck and if something happens wihtin a certain amount of time all money shall be returned.
Also any deposit over 10k registers with the government, so they put a watch on your account for a few weeks.
usually those contracts never hold up in court, you are buying a used car. things might be wrong
actually 6k will throw a flag (g/f used to be head teller at national city)
mellon was a lot less, my wife used to work in the fraud dept at mellon. She would look for people adding money to an account over a number of days so they wouldn’t get caught.
If he won’t accept a bank’s check, something is wrong. I would be real suspicious of the deal if those were the terms. Watch yourself and good luck. I hate to see people get screwed.
x2
hes in the witness protection program :kekegay:
i took out a loan for my camaro from pnc and they let me cash it
the truck is in Alabama, so i would rather take cash and take the title.
I wouldn’t be too hard on the seller. If i was selling a car to someone from out of state (and i HAVE done that, 9 times at last count), i always insist on cash. We all know that cashiers checks, money orders, etc etc can be forged, just look at all the people getting hosed by the Nigerian scumbags. I would NEVER sell a vehicle to anyone without disclosing every thing i know about it, good AND bad, but i still insist on cash. I have taken checks from local people, but i always had my wife verify the funds(she works at a bank)
PSECU is ur best friend! Lowest rates in the US if u qualify,i have a loan from there.