Dealer wont release car or title

[johnrex62]

Originally Posted by Electrician4you

The dealer could simply call the issuing bank and verify the funds are there and check is issues by that institution,

That is no guarantee anymore either. A person can put $500 in an account and write 15 $500 checks that afternoon. You can call the bank and they will verify there are funds in the account, but tomorrow when all of the checks are presented by the various banks only the first will be honored. Hope that was you, chances are it wouldnt be.

[kell490]

Originally Posted by Sgoldie

A wire transfer, not necessarily. I sold a car that way to a foreign student who came into town and did the wire transfer, title paperwork, and picked up the car all in the same day. His bank messed up the paperwork which they said would take 24yrs to transfer and I didn't get the money. I thought it was the safest way too under the circumstances as the bank refused to put a hold on the money to guarantee a check and I wanted it deposited in an out of town account. Fortunately the kid was honest and not that far away so I did get paid after a day trip to him to get cash. But he could have left the country and had the car shipped home with no way for me to contact him half a world away. His bank refused to help resolve the situation even though it was their mistake and was extremely discourteous about the problem even confiscating papers out of my hand proving the transfer.

Wire transfers can be reversed until the receiving bank accepts the wire transfer instructions. I confirmed this with Chase bank. If you call your bank and confirm the transfer has been accepted and have them notate your account of this they can't get the money back even from a bank outside the States it's 100% full proof. I sold a laptop to someone in India and did a bank to bank wire transfer this way. It is the most secure way of transferring money even cash can be counterfeit. When I was selling some equipment in CL someone called wanting to send a cashiers check I told them only a bank to bank WT would be accepted they never called back. Anyone who doesn't accept this method I won't deal with.

[Billy_J]

Yes there have been bogus certified checks. I don't blame the dealer for waiting until it clears.

[motormaker]

It's been 8 days since we last heard from the OP, wonder if he got the car.