So I finally got a bite on my wife's truck yesterday. The guy came out and looked at it, we test drove it, and he decided he wanted it. Gave me a $100 cash, a personal check for $3000, and said the remaining amount will be coming from USAA. We would square up once the cashiers check arrived. Guy seemed like a real straight shooter, and I had no concerns about the transaction. Let everything clear the bank, then he can take the vehicle.
This morning, he calls me and said everything is squared away with USAA, and that the check will be arriving Tuesday of next week. Even went as far to say that USAA would not make the cashiers check out to me since my wife's name was the only one on the title, which I said ws no big deal. Here is where the red flag shoots up. He said he is in need of the vehicle this weekend, and asked if he can pick it up this weekend. So the obvious answer is no, and I told him that wouldnt work without a cleared payment. He offers to bring a cashiers check for the full amount, but when the USAA check arrives we would have to go to the bank to cash it and hand over the funds since it will be made out to my wife. Why didnt we just do this in the first place, but Ill play. Upon calling the bank I found out even that is not a secure payment anymore. The bank then informs me that even if funds clear, a person could claim it to be a fraudulent signature and have the funds returned. She said cash is the best option, but even that could be replicated and fake.
How the h#ll do I get paid for this vehicle?? The bank offered up calling USAA to verify funds as a way of combating fraud. They also mentioned PayPal or Venmo for protection. To protect myself, it looks like we're waiting till the USAA check arrives, which is the time the personal check clears, calling USAA to verify funds, then he drives away. If the deal falls through then so be it. I dont see any other way to secure a payment today so he can take the vehicle.
I've bought several used vehicles, all of which I showed up with a cashiers check and drove off. Cant decide if Im being too difficult here, or my concerns are justified.
This morning, he calls me and said everything is squared away with USAA, and that the check will be arriving Tuesday of next week. Even went as far to say that USAA would not make the cashiers check out to me since my wife's name was the only one on the title, which I said ws no big deal. Here is where the red flag shoots up. He said he is in need of the vehicle this weekend, and asked if he can pick it up this weekend. So the obvious answer is no, and I told him that wouldnt work without a cleared payment. He offers to bring a cashiers check for the full amount, but when the USAA check arrives we would have to go to the bank to cash it and hand over the funds since it will be made out to my wife. Why didnt we just do this in the first place, but Ill play. Upon calling the bank I found out even that is not a secure payment anymore. The bank then informs me that even if funds clear, a person could claim it to be a fraudulent signature and have the funds returned. She said cash is the best option, but even that could be replicated and fake.
How the h#ll do I get paid for this vehicle?? The bank offered up calling USAA to verify funds as a way of combating fraud. They also mentioned PayPal or Venmo for protection. To protect myself, it looks like we're waiting till the USAA check arrives, which is the time the personal check clears, calling USAA to verify funds, then he drives away. If the deal falls through then so be it. I dont see any other way to secure a payment today so he can take the vehicle.
I've bought several used vehicles, all of which I showed up with a cashiers check and drove off. Cant decide if Im being too difficult here, or my concerns are justified.
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