How to handle cash situation
09-17-2009, 06:22 PM
#1
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How to handle cash situation Ok. Ended up not getting that white z28 I made a thread about before. I am flying down to Texas to get a 02 Z28 on sat. 19th. I will be paying $8,750, but I am wondering what the best way to go about paying. The guy doesn't care how I do it. I want to do straight cash, but I don't want to get hassled at the airport. I also don't really want to do a cashiers check because if it comes back bad, i'm out of luck. What would you do in my situation?
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09-17-2009, 06:54 PM
#2
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I've never heard of a cashier's check coming back bad...
But you can get a money order from the post office. That's what I did for my down payment.
Or wire the dude the money.
But you can get a money order from the post office. That's what I did for my down payment.
Or wire the dude the money.
09-17-2009, 06:56 PM
#3
Where are you from? I live in NJ and drove to CT to buy my Trans Am with $11,000 cash in my pocket. I was paranoid that I would get pulled over out of state with that much in my pocket.
If you are hell bent on paying cash you should probably drive. If you can't I would suggest listening to StoleIt.
Or you could just put it in a carry on bag and if they ask you what your doing with that money, tell them that your going to pay cash for a used car, that might work. I wouldn't try it though.
Someone with more airport experience chime in. I haven't flown anywhere in 8 years.
If you are hell bent on paying cash you should probably drive. If you can't I would suggest listening to StoleIt.
Or you could just put it in a carry on bag and if they ask you what your doing with that money, tell them that your going to pay cash for a used car, that might work. I wouldn't try it though.
Someone with more airport experience chime in. I haven't flown anywhere in 8 years.
09-17-2009, 07:14 PM
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Where are you from? I live in NJ and drove to CT to buy my Trans Am with $11,000 cash in my pocket. I was paranoid that I would get pulled over out of state with that much in my pocket.
If you are hell bent on paying cash you should probably drive. If you can't I would suggest listening to StoleIt.
Or you could just put it in a carry on bag and if they ask you what your doing with that money, tell them that your going to pay cash for a used car, that might work. I wouldn't try it though.
Someone with more airport experience chime in. I haven't flown anywhere in 8 years.
If you are hell bent on paying cash you should probably drive. If you can't I would suggest listening to StoleIt.
Or you could just put it in a carry on bag and if they ask you what your doing with that money, tell them that your going to pay cash for a used car, that might work. I wouldn't try it though.
Someone with more airport experience chime in. I haven't flown anywhere in 8 years.
09-17-2009, 07:16 PM
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If i would wire the money, could the bank in Texas hold that money till i got there and drove the car to see if it was legit? Basically what im asking is can the bank hold the money till i get there, then with my permission transfer the funds to his account?
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09-17-2009, 08:29 PM
#10
Yeah dude, what are they going to do to you? I would be more worried about getting robbed or losing your pants on the plane.
As long as you look like a straight stand up guy that doesn't have a kilo stuffed up his *** you will be fine, unless $100 bills have metal injected in them. They are not going to search your pockets.
As long as you look like a straight stand up guy that doesn't have a kilo stuffed up his *** you will be fine, unless $100 bills have metal injected in them. They are not going to search your pockets.
09-17-2009, 11:17 PM
#12
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If you have a national bank you could just wait till you get down there, find a local branch and then either get cash or a cashiers check. If not, I'm with the guys above, take a cashiers check, as long as it's from your bank it's guranteed. I would be more worried about loosing the money or it getting stolen. I flew from SC to Texas last year to get my '01, I just took a cashiers check, just make sure you have license/insurance worked out before you start driving the car back.
09-18-2009, 08:42 AM
#13
Cahsiers check, or you can transfer funds from your bank account to his. Make sure you can get tags too, I drove my TA from virginia all the way down to miami FL with no tags lol.
09-18-2009, 08:55 AM
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Get a cashiers check. People like to insist on "cash," but there's no f-ing way I'd walk around with thousands of dollars in cash. That just me though.
Any REASONABLE person will work with someone that has a bank draft (i.e. both parties go to bank and the seller hands over the keys/title when the check clears). The woman I bought my car from was a f-ing whack job. She NEEDED the cash NOW (i.e. NOW...not 20 minutes from now).
I almost walked away from the deal but managed to convince her that with 20 minutes of her time, she could get the cash from my bank.
Any REASONABLE person will work with someone that has a bank draft (i.e. both parties go to bank and the seller hands over the keys/title when the check clears). The woman I bought my car from was a f-ing whack job. She NEEDED the cash NOW (i.e. NOW...not 20 minutes from now).
I almost walked away from the deal but managed to convince her that with 20 minutes of her time, she could get the cash from my bank.
09-18-2009, 12:53 PM
#15
I just went to Virginia to my my SOM camaro. I took a bus down with a transit plate, the car already insured, a check from the bank for 9k, and a GPS unit for the trip back. Got there; checked the car out, had him sign a transfer of ownership and the title over to me. Then I gave him his check and drove back. Didn't get pulled over the whole way and it was 35 dollars in tolls. Now I paid the excise tax and the beast is registered.
End of story
End of story
09-18-2009, 08:15 PM
#16
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1. As long as the seller is ok with it, a cashier's check from your bank as mentioned is the way to go.
2. If you currently have an insurance policy, most insurance companies give you a 30 day grace period. Meaning say you buy a car and wreck it on the way home or within 30 days of buying it and you didn't put it on your existing policy with your other cars yet. It is covered by your existing policy even though this specific car isn't listed on the policy yet. No sense paying for insurance for a couple days or whatever for a car you may end up not buying.
3. Take a license plate off one of your other cars with you and use it. If you get pulled over just tell them you sold that car and will be transferring the plates to this new car.
2. If you currently have an insurance policy, most insurance companies give you a 30 day grace period. Meaning say you buy a car and wreck it on the way home or within 30 days of buying it and you didn't put it on your existing policy with your other cars yet. It is covered by your existing policy even though this specific car isn't listed on the policy yet. No sense paying for insurance for a couple days or whatever for a car you may end up not buying.
3. Take a license plate off one of your other cars with you and use it. If you get pulled over just tell them you sold that car and will be transferring the plates to this new car.
09-18-2009, 10:51 PM
#17
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Well, if it were me I would open up a checking account at a large branch bank with offices all over (ala Wells Fargo, ING, ect...) and fund it with the exact amount you plan to pay the guy. Then when you fly down, just hit the nearest Wells Fargo and withdraw the cash there with him there and hand it right over. Also, a lot of banks like to give you free money when you open up a checking account (I got a free $50 for opening up a Wells Fargo checking account)
Not sure if it's worth the hassle for you but I personally wouldn't feel comfortable carrying that much cash anywhere.
Otherwise if he doesn't mind a cashier's check, I would go that route and save the PITA.
Not sure if it's worth the hassle for you but I personally wouldn't feel comfortable carrying that much cash anywhere.
Otherwise if he doesn't mind a cashier's check, I would go that route and save the PITA.
09-19-2009, 09:48 AM
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1. As long as the seller is ok with it, a cashier's check from your bank as mentioned is the way to go.
2. If you currently have an insurance policy, most insurance companies give you a 30 day grace period. Meaning say you buy a car and wreck it on the way home or within 30 days of buying it and you didn't put it on your existing policy with your other cars yet. It is covered by your existing policy even though this specific car isn't listed on the policy yet. No sense paying for insurance for a couple days or whatever for a car you may end up not buying.
3. Take a license plate off one of your other cars with you and use it. If you get pulled over just tell them you sold that car and will be transferring the plates to this new car.
2. If you currently have an insurance policy, most insurance companies give you a 30 day grace period. Meaning say you buy a car and wreck it on the way home or within 30 days of buying it and you didn't put it on your existing policy with your other cars yet. It is covered by your existing policy even though this specific car isn't listed on the policy yet. No sense paying for insurance for a couple days or whatever for a car you may end up not buying.
3. Take a license plate off one of your other cars with you and use it. If you get pulled over just tell them you sold that car and will be transferring the plates to this new car.
09-19-2009, 07:16 PM
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Well guys, ended up just taking cash because he said he wanted to have cash since i brought him down from 10k. Everything worked out fine, car is great, and I will post pics tommorow morning when I get it clean from its 700 mile trip.