help.. can u use regular check to buy car cash?

[xxweekxx]

im here trying to help my sister get a honda from some dealer brand new.. she has the money in her act.. the car is like $20k.. will the dealer accept a personal check? or they will want a certified check only?

if certified check, can you just make a blank certified check and dealer hop till you find the dealer/car, then give them the money, and pay the difference in cash/credit card?

Thanks

[DateDoc]

They may but call them 1st - they will call the bank to see if it is good. Carrying a blank cashier's check around isn't a good idea. It would probably have to made out to cash and if you lose it - bye-bye money.

[xxweekxx]

so you can use a personal check and have them call the bank to verify funds?

[baddog]

Bank check. No, they will not take a personal check or cash.

[Spunky]

Nope,bank certified made out to the dealer only

[BV]

Originally Posted by DateDoc

They may but call them 1st - they will call the bank to see if it is good. Carrying a blank cashier's check around isn't a good idea. It would probably have to made out to cash and if you lose it - bye-bye money.

there is no such thing as a blank cashiers check, or one made out to "cash", (a legit one anyways)

[BV]

Totally depends on the dealer. I have seen people write personal checks & business checks for new vehicles plenty of times.

[xxweekxx]

eh this sucks.. problem is shes young and im here only tomorrow to help her buy her car.. the bank closes at 1pm.. so we need to find a car, go to bank, make out check before 1pm.. thats why i wanted a certified check(blank)

[BV]

Originally Posted by xxweekxx

eh this sucks.. problem is shes young and im here only tomorrow to help her buy her car.. the bank closes at 1pm.. so we need to find a car, go to bank, make out check before 1pm.. thats why i wanted a certified check(blank)

bank isn't going to do that, they will make it out to you or whoever you say for whatever amount you say

no blank amounts and no made out to cash

dealers will also take a debit card, you have one of those right?

[heymatty]

You'll get a much worse deal if they think you are desperate to close a deal. You could always take out $1,000 cash and give them that as deposit to hold the car till Monday.

She'll need to sort out insurance anyways before driving the car away.

[DBS.US]

You have the money, you make the rules. They are hard up for sales, I sure they will work with you.

[BV]

Originally Posted by heymatty

She'll need to sort out insurance anyways before driving the car away.

not if she already has a car & insurance

[Jim_Gunn]

Originally Posted by xxweekxx

eh this sucks.. problem is shes young and im here only tomorrow to help her buy her car.. the bank closes at 1pm.. so we need to find a car, go to bank, make out check before 1pm.. thats why i wanted a certified check(blank)

Why rush around for no reason? If you are desperate to buy a car in one afternoon, you are going to get screwed on the price. She can just put $100 or something to hold the vehicle she wants and sign the paperwork whenever, a day or two or three later and work out payment any way she wants.

[BV]

i'll give you some advice

take the reg sticker price from the factory and times it x .89, that will be their invoice (or close to it)

they will sell it for that (they get a few % hold back from factory) plus they get there dealer fees usually 500-1000

don't go in there saying you're going to pay for it

make them think you are going to finance

this what they call making money on the "backend"

so if they think they are going to make money on the back end then they will give more on the front

negotiate the price like i said sticker x .89

don't pay for any paint guard or undercoating, its all bullshit and it comes with it anyways whether you pay for it or not

good luck

[Jim_Gunn]

And I didn't even address the question of why hand over $20k liquid hard earned ( I assume) cash on a depreciating asset like a car? That's utter foolishness unless she has so much money in the bank that she doesn't know what to do with it. She isn't going to get such a huge break because of paying cash. Why not put a grand down and make small payments over the next five years like most people? Then she can keep that $20k and save it for a rainy day, for unforeseen expenses, use it on a down payment on a house, invest it or just earn some interest on it.

[BV]

Originally Posted by Jim_Gunn

And I didn't even address the question of why hand over $20k liquid hard earned ( I assume) cash on a depreciating asset like a car? That's utter foolishness unless she has so much money in the bank that she doesn't know what to do with it. She isn't going to get such a huge break because of paying cash. Why not put a grand down and make small payments over the next five years like most people? Then she can keep that $20k and save it for a rainy day, for unforeseen expenses, use it on a down payment on a house, invest it or just earn some interest on it.

good point, i forgot to mention, go to the main honda website, look at what the rebates and incentives they are offering on her model she wants, salesman don't always tell you if there is a rebate

if she has good credit she might qualify at 0%, or maybe even 1.9%, it would be stupid to pay cash if they will give her 0%

[wdsguy]

When I bought my car last year they charged 3k to the CC and took a personal check for the rest.

[punker barbie]

Originally Posted by DBS.US

You have the money, you make the rules. They are hard up for sales, I sure they will work with you.

qouted for the truth

[baddog]

Originally Posted by xxweekxx

thats why i wanted a certified check(blank)

You understand the concept of a certified check, right?

[Barefootsies]

Originally Posted by BV

Totally depends on the dealer. I have seen people write personal checks & business checks for new vehicles plenty of times.

Correct. I have, in the past, bought two brand new cars this way.

They WILL call the bank and verify funds.

I have also had dealers refuse personal checks as well. So it can go either way depending on the dealerships and their desperation to close the deal, or their policy in general. A lot of different factors and no 'absolute' answer.

Good luck.

[k0nr4d]

Interesting, me and my uncle just went in a couple days ago and bought a citroen berlingo for cash, around that same amount. They really don't take cash at dealerships in the US?

[BillyHoe]

If you have the fund in the account then why not just use a debt card??

[theking]

Originally Posted by xxweekxx

im here trying to help my sister get a honda from some dealer brand new.. she has the money in her act.. the car is like $20k.. will the dealer accept a personal check? or they will want a certified check only?

if certified check, can you just make a blank certified check and dealer hop till you find the dealer/car, then give them the money, and pay the difference in cash/credit card?

Thanks

The last new truck that I bought was an '03 Toyoto Tacoma and paid cash via a personal check...they just called the bank and verified that I had the funds in my account to cover the check.

[theking]

Originally Posted by baddog

Bank check. No, they will not take a personal check or cash.

I have paid by personal check as well as I have paid by cash.

[theking]

Originally Posted by heymatty

She'll need to sort out insurance anyways before driving the car away.

You do not have to insure the car to drive it away...if you pay cash the dealer could care less. Of course if she had an accident before she got the car insured she would suffer the loss.

[the Shemp]

Originally Posted by Barefootsies

Correct. I have, in the past, bought two brand new cars this way.

They WILL call the bank and verify funds.

I have also had dealers refuse personal checks as well. So it can go either way depending on the dealerships and their desperation to close the deal, or their policy in general. A lot of different factors and no 'absolute' answer.

Good luck.

i give them the choice of Visa, Amex or a personal check...everytime they take the check...

[SBJ]

Originally Posted by BillyHoe

If you have the fund in the account then why not just use a debt card??

not too many debt cards will let you charge $20k.. I upped mine to 5k and left the ATM low so I don't take out stupid amounts of cash at the bar ATMs

[Waddymelon]

I've bought a few high end cars in the past and my current Harley Davidson and paid for them with personal checks and never had a problem, and never had them call the bank... at least not in front of me. The last couple of times they ran a check thru a little machine and it verified it right then.

[Iron Fist]

Depends on how impatient and insolvent the dealer is....

[xxweekxx]

thanks for everything.. as for people saying why buy a new car cash, well my dad gave her the money, and specifically wants her to buy a brand new car since hes had bad experiences with used cars..

plus shes stuck in middle of nowhere, so we dont want mechanic trips, so its not her money, dad sent her $25k and said buy a brand new honda... we will try the personal check route and see how that works..

[NemesisEnforcer]

Originally Posted by k0nr4d

Interesting, me and my uncle just went in a couple days ago and bought a citroen berlingo for cash, around that same amount. They really don't take cash at dealerships in the US?

They do take cash. Depending on the amount, there is paperwork to be done for reporting the transaction to the Federal government.

Dealers prefer that you do not pay cash because they get fewer opportunities to make money on a car deal. That ranges from the cut they get from arranging a lease or loan, to options like extended warranties or accessories that buyers are more likely to choose if they can fold it into the amount they borrow. In some cases, those extras account for up to 75 percent of a showroom?s profits.

[Supz]

They should take it. Most dealerships have a check verifications system that will verify the check. This way if it bounced the verification company guarantees the funds. If they don't have that then they will call to verify funds in the account. I worked in the car business basically my entire life. They will take any form of payment before they ever let you leave without a car.

[Domain Broker]

Originally Posted by Supz

They will take any form of payment before they ever let you leave without a car.

[VikingMan]

If you are in a white person in a mainly white area where people do white things like be honest, return lost wallets/purses to their owners, tell the truth, do good business, etc etc etc then you can pay with a check. I bought a truck for $18k in a suburb of Seattle a few years ago and paid with a personal check. They did not even call the bank to make sure I had enough money in the account. I believe the proper phrase is "that is mighty white of you!".

[Barefootsies]

Originally Posted by NemesisEnforcer

Dealers prefer that you do not pay cash because they get fewer opportunities to make money on a car deal. That ranges from the cut they get from arranging a lease or loan, to options like extended warranties or accessories that buyers are more likely to choose if they can fold it into the amount they borrow. In some cases, those extras account for up to 75 percent of a showroom?s profits.

Correct.

One of my buddies is a salesman at a car dealership and has told me about all of the upsells and warranty b.s. and why they push that bullshit so hard. Also the reasons they prefer you do financing, even if you can pay cash.

I have heard plenty of shady bullshit stories from the car dealer point of view. Not only in my own dealings of buying cars over the years, but in stories from buddy.

[MetaMan]

Originally Posted by BV

don't pay for any paint guard or undercoating, its all bullshit and it comes with it anyways whether you pay for it or not

so true, my first car i paid for all this because the hot MILF talked me up, LOL. at least i admit i was weak for women back then.

but it is def bullshit.