04-27-2022, 07:11 AM
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#16
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Junior Member
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Join Date: Apr 2022
Location: Canada
Posts: 1
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Junior Member
Join Date: Apr 2022
Location: Canada
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I've only ever used a bank draft to buy a car, which isn't the same as a cashier's check. I've never been subjected to a credit check for this, and I've never had any problems paying using this method. While I was broke, I used short term loans ontario for a down payment. When you write a bank draft, the bank takes cash from your account, puts them away, and writes a draft to the seller. Unless the bank goes insolvent in a relatively short amount of time, bank drafts provide no danger to the seller.
Last edited by johnathanniko; 04-29-2022 at 03:44 AM.
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04-27-2022, 09:58 AM
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#17
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Member
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Join Date: Aug 2019
Location: Nowhere, Nevada
Posts: 632
Real Name: Dave
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Member
Join Date: Aug 2019
Location: Nowhere, Nevada
Posts: 632
Real Name: Dave
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Quote:
Originally Posted by Daikon
Is simply going to the bank and getting a cashiers check for the full amount all I need to do to drive away after all sales documents are signed?
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That’s what I did when I bought my ‘18 SR5.
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~When You Live in Nevada, "just down the road" is anywhere in the line of sight within the curvature of the earth.
2018 4Runner SR5
2012 Subaru Outback Premium
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04-27-2022, 04:38 PM
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#18
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Join Date: Mar 2017
Location: Kolorado
Posts: 432
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Member
Join Date: Mar 2017
Location: Kolorado
Posts: 432
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Last two vehicel purchases, I wrote a personal check. One was a motorcycle. Both times they scanned the check and I believe the transfer was done in minutes. My bank had it recorded in my account by the time i got home. Neither wanted a credit card, since they have to pay for that. I would have liked the points, but they wanted me to pay their cost of that transaction.
I am under the impression that you may get a better deal if you finance. They make money on it. Then just pay it off next week.
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04-27-2022, 09:49 PM
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#19
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Join Date: Aug 2017
Location: Southeastern NC
Posts: 283
Real Name: John
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Member
Join Date: Aug 2017
Location: Southeastern NC
Posts: 283
Real Name: John
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I got wiring instructions, and made an appointment at the bank and we sent the wire.
My situation was a little different though, I'm in North Carolina and was buying from a dealer in Florida and having it shipped.
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04-27-2022, 09:53 PM
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#20
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Member
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Join Date: Apr 2019
Location: LAX
Posts: 250
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Member
Join Date: Apr 2019
Location: LAX
Posts: 250
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To follow up..
In August 2021, we got the call that our reserved vehicle had arrived. We flew to Northern California, ubered to the dealership, test drive, went to finance, let them do their thing (try to sell extended warranty, finance options, ect) and told them we were paying in full. The finance person did the paperwork, gave us the bill of sale, let us take the NEW CAR to the bank, get a cashiers check, come back and gave it to them and we were on our way.
They did not ask for a SSN since we weren't financing and didn't try to sell us on the idea that it's required for the patriots act (criminal check)
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05-07-2022, 08:34 PM
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#21
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Join Date: Apr 2017
Location: Nevada
Posts: 53
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Join Date: Apr 2017
Location: Nevada
Posts: 53
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I ordered my '18 and the dealer called me on a Friday afternoon and said it was in. By the time I got down to look at it, it was after 6:00pm. The dealer just told me to take it home and bring us your personal check tomorrow.
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05-12-2022, 05:48 PM
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#22
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Senior Member
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Join Date: Aug 2007
Location: S Oregon
Age: 70
Posts: 1,406
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Senior Member
Join Date: Aug 2007
Location: S Oregon
Age: 70
Posts: 1,406
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I also wrote a personal check for a 2007 SE new.
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07-28-2022, 10:24 AM
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#23
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Senior Member
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Join Date: Dec 2010
Location: Winnipeg, MB, Canada
Posts: 2,189
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Join Date: Dec 2010
Location: Winnipeg, MB, Canada
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When we bought the wife's 5th gen 4R, it was a used vehicle, and we actually did go with financing to secure a better price, waited the 3 payments the dealership needed to collect their kickback (as discussed with them), and then paid off the rest of the financing.
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'15 Lexus GX460 - FJC 6-spokes w/ 265/65/17C Duratracs Weathertech HP & Canvasback liners
'15 4Runner Limited - 1" Cornfed level, 255/75/17SL Duratracs on FJC 8-holes, XD HID lows, Sprint Booster, Canvasbacks & Husky Liners - SOLD
'96 Toyota Hilux Surf SSR-G 3.0TD RIP - 265/75/16C Duratracs, '99 tall fronts, OME 906's rear
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07-28-2022, 04:17 PM
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#24
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Junior Member
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Join Date: Jul 2022
Location: TX
Posts: 18
Real Name: abi
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Junior Member
Join Date: Jul 2022
Location: TX
Posts: 18
Real Name: abi
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haha yes. my first 4runner I bought from a national dealership (AutoNation) and despite handing them a check, I spent at least 3 hours waiting. waiting for what, i’ll never know.
I just bought my second 4runner from a small local dealership. Test drive the car, drive to the bank for the cashiers check and was on my home within 30 minutes.
I think it just depends on where you’re buying the car from, but it definitely shouldn’t take as long as if you were financing.
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09-10-2022, 01:35 AM
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#25
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Junior Member
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Join Date: Sep 2022
Location: Bend, OR
Posts: 6
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Join Date: Sep 2022
Location: Bend, OR
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Generally a used car guy. And I'll usually either show up with green money or do the deal at my bank where the seller is issued a cashier's check.
My first dealer experience was way back as a teenager. I went with my dad to pick up a car that he had ordered. 1985 Z51 corvette. My dad and his "business" are a whole other story. But it was Los Angeles in the '80's, so there it is...
We're leaving the house and he tosses me his work briefcase and tells me to hold onto that. OK. Must be some documents to sign I figured.
So we get there and the old man grabs his case. Opens it up and there is (I remember) the amount 265 hundred dollar bills in there. I felt like I just stepped into an episode of Miami Vice. He tossed them down in nice little piles of ten. That's about 73k in today's money. Nice work dad...
Shook the nice man's hand, and off we went with cool new car. Just another day at the office. Well off he went. I was stuck driving mom's crappy Oldsmobile back home.
My personal experience is no dealer wants cash any more. And get VERY uncomfortable if you try pulling out green money. Too many reporting requirements and drama.
I've done wire transfers, and personal checks for new vehicles. No problem. I guess it's a dealer by dealer and person by person thing. I've know a few of the F&I guys at the local dealerships, and they treat me square.
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09-12-2022, 03:16 AM
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#26
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Member
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Join Date: Aug 2015
Location: So Cal - SCV
Posts: 948
Real Name: Chris
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Member
Join Date: Aug 2015
Location: So Cal - SCV
Posts: 948
Real Name: Chris
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I bought mine in CA in 2015 with a check.
Do not let them know you plan to do this until after you agree on a final price.
They kept trying to hint to credit scores as we were talking price but I have excellent credit so it wasn't an issue.
Finance guy was a douchebag but I gave my final price and walked out.
Got called back then next day asking for $1500 more but held firm. An hour later I got my price.
I walked in with the check and walked out with my 4Runner.
We had bought vehicles from this dealer before.
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10-01-2022, 10:04 PM
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#27
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Member
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Join Date: Sep 2022
Location: SC
Posts: 36
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Member
Join Date: Sep 2022
Location: SC
Posts: 36
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My last two purchases were financed in order to get some incentive. I just paid off the balance when I got the first statement. I got a lower price and the dealer got whatever they get for selling a loan. They did a credit check each time though, which I don't have a problem with.
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10-02-2022, 05:28 PM
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#28
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Member
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Join Date: Mar 2018
Location: Louisville, KY
Posts: 101
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Member
Join Date: Mar 2018
Location: Louisville, KY
Posts: 101
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I wrote a personal check in Louisville, KY for my '21. Actually, I put the maximum allowed by law on a Credit Card just to get some points (paid it off immediately) and the balance was check.
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10-04-2022, 07:15 AM
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#29
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Junior Member
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Join Date: Oct 2022
Posts: 24
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Junior Member
Join Date: Oct 2022
Posts: 24
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Yes dealers will do everything for you if you have that cash
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10-14-2022, 04:25 PM
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#30
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Member
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Join Date: Mar 2020
Location: USA
Posts: 46
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Member
Join Date: Mar 2020
Location: USA
Posts: 46
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Quote:
Originally Posted by johnathanniko
I've only ever used a bank draft to buy a car, which isn't the same as a cashier's check. I've never been subjected to a credit check for this, and I've never had any problems paying using this method. While I was broke, I used for a down payment. When you write a bank draft, the bank takes cash from your account, puts them away, and writes a draft to the seller. Unless the bank goes insolvent in a relatively short amount of time, bank drafts provide no danger to the seller.
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My fellow banker the other day told me that due to the financial crisis in the world people are experiencing huge problems paying off their loans. Be careful with that. This banker was lucky enough to sell the whole debt portfolio via Debexpert.
Last edited by Carten; 10-27-2022 at 05:24 PM.
Reason: spelling correction
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