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Someone buys a Mercedes for $98,418.20 and pays for it with a personal check and drives away! The dealership later finds out that there is less than $200 in the account. WTH? BTW, I have the address of that dealership in case anybody is interested.
We paid cash and our personal check was accepted by the dealer however, the bank (at our request) had already put a freeze on those funds specifically for that check and faxed the dealer a letter telling them exactly what was done.
There was not an issue, the check cleared just fine, we got our vehicle, the dealer got their money and we all went home happy.
curious, does the dealer have some kind of power of attorney over the new car even after you drive it home and paid cash for it? it took them a few weeks to refund my overpayment of $500 (deposit). i don't remember exactly but is it true that the dlr has pwr of atty until the customer receives the official registration document in the mail? and that they can hold on to any overpayment during that time?
On two separate occasions, my Subaru dealer accepted my personal (non-certified) checks for $20k and for $32k. I think that a lot has to do with the particular dealer, and--of course--with the customer's appearance/reputation.
The first time that I bought a car from them, they indicated that a personal check was okay.
When I questioned that, and said "What if somebody cheats you by writing a check on an account with insufficient funds?",
the somewhat surprised response was, "Well, nobody has ever done that to us".
They'll learn---it'll happen to them eventually.
It's like when you watch court cases on TV and the judge says, "Why wouldn't you put XYZ in your contract?" And they say, "Well, in twenty years no one has ever done this to us!"
In my last purchase with a personal check ($24K),, it took the dealer all of 30 seconds to call the bank and put a freeze on enough money in the checking account to cover their check.
We wrote a personal checks for cars. We had to provide our Social Security numbers. I imagine they run a credit check and see we were't flakes. Never had a problem.
Someone buys a Mercedes for $98,418.20 and pays for it with a personal check and drives away! The dealership later finds out that there is less than $200 in the account. WTH? BTW, I have the address of that dealership in case anybody is interested.
Actually, dealers often refuse to take cash money. Had response: What am I going to do with them? I think, they fear robbery.
I wouldn't be much worried about them though. Betcha their insurance will cover this.
Most places will not allow you to purchase a vehicle with a check unless it's a cashiers check written from the bank for the exact amount, or a money order. I wouldn't walk around with 100k in cash to purchase anything, but would opt for a wire transfer instead.
It is apparently not unusual for luxury car dealers to treat their customers this way. .
Sure. Lots of my friends have been given cars to take home for the weekend - no money or cash or checks or anything.
Most of the time, these cars aren't stolen.
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