How do you pay?
Drifting
Joined: Jun 2006
Posts: 1,302
Likes: 4
From: Palo Alto CA
I got paid in cash. But I have no idea how to tell a fake $100 from a real one. That is why I went to the bank and let the experts count the money and confirm that the cash was good. We then signed the papers on the spot.
When I bought the Vette, both the seller and I used the same bank. So we just did an electronic transfer from my bank to his and signed the papers on the spot.
Either way, be safe. There seem to be way more scammers with the economy on the decline.
When I bought the Vette, both the seller and I used the same bank. So we just did an electronic transfer from my bank to his and signed the papers on the spot.
Either way, be safe. There seem to be way more scammers with the economy on the decline.
Pro
Joined: Mar 2010
Posts: 595
Likes: 2
From: LA/OC border, probably sittin' under the patio, by the pool...smokin' a cigar! SoCal
22k....cash! Went to Wells Fargo, they took me to a little side room, counted out the bills. I'm thinking 22K in 100's was going to be a huge amount to hide/carry out, but the stacks fit into the sides of my crew socks. 22k in 100's isn't a big stack like I thought it would be. I put 300 in "mug money" in my front pocket. 
PS- Probably would not have did a cash deal, but the seller was a older, nice, local gentleman. He held the car for me, no deposit, until my cash was available. He used the monry to buy a 5th wheel to tour the country. I need to go by sometime and see how he's doing. He had a HUGE gun safe in his garage where he put the money, then a 9mm on top of the cash!
PS- Probably would not have did a cash deal, but the seller was a older, nice, local gentleman. He held the car for me, no deposit, until my cash was available. He used the monry to buy a 5th wheel to tour the country. I need to go by sometime and see how he's doing. He had a HUGE gun safe in his garage where he put the money, then a 9mm on top of the cash!
Last edited by GBsC5Vert; Oct 11, 2011 at 10:35 PM.
5th Gear
Joined: Oct 2011
Posts: 5
Likes: 0
From: Roanoke Virginia
I just sold my 2008 Cobalt SS so that I can purchase my first Vette here in the next few months and I had an issue with the guy paying with a cashiers check. I met him 2 hours away for him to pick up the car and I agreed to ship him the title through UPS when I picked it up after paying the car off. He gave me a cashiers check for $14,300 and when I went to my bank ( Member One Federal Credit Union) they said that they would not release the title to the DMV for 10 business days because the cashiers check had to clear. After a long conversation with the VP of Lending they agreed to do an emergency release of the title after verifying the funds were available from his bank. Not sure how many others banks are doing this, but when I purchase a Vette I will have cash to avoid any banking issues.
-Devan Newman
-Devan Newman
Instructor
Joined: Jun 2011
Posts: 181
Likes: 0
From: PA
When I sold my camaro to buy my vette the buyer was about an hour away. I really appreciated that he took me to his bank so I could see the cashiers check being printed out. Scammers will make fake cashiers checks. If you can take the seller to a bank I think that's your best bet!
Pro
Joined: May 2011
Posts: 629
Likes: 0
From: The North Bay Area Californa
i did the same thing "the bank teller at wells fargo looked at me like i was buying drugs off of him
"
Drifting
Joined: Oct 2009
Posts: 1,762
Likes: 173
From: Citrus Heights CA
You would be amazed what people have done for much less cash
Be safe and do it at the bank,No vette is worth your or your friends life.....BE SAFE
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Burning Brakes
Joined: Sep 2009
Posts: 1,180
Likes: 2
From: Yes it's hot! Arizona
Just be advised, a cashiers check can be canceled. It is not a done deal! When I bought my car I was as worried about the dude that sold it to me as he was about me. He had me write on our sales agreement that I promised not to cancel the cashiers check. That got me wondering about him!
Also, if you are going to need a lot of cash and have time, call the bank up and tell them. They don't usually have $20k in $100 on a Saturday. That kind of cash will have to ordered by the bank to be delivered by Brinks, or whoever. Call 'em up two or 3 days prior for a hassle, maybe, free experience.
When I sold my Miata we had no problem at a BofA for under $10k, but more than that for the Vette would pose a problem.
That's just my experience and research of the local banks I deal with. YMMV. Good luck
Also, if you are going to need a lot of cash and have time, call the bank up and tell them. They don't usually have $20k in $100 on a Saturday. That kind of cash will have to ordered by the bank to be delivered by Brinks, or whoever. Call 'em up two or 3 days prior for a hassle, maybe, free experience.
When I sold my Miata we had no problem at a BofA for under $10k, but more than that for the Vette would pose a problem.
That's just my experience and research of the local banks I deal with. YMMV. Good luck
Race Director
Joined: Apr 2005
Posts: 10,179
Likes: 2,306
From: Wesley Chapel, FL Las Vegas, NV
Keep in mind the bank reports all cash transactions over $10K to the IRS. So if you know you will need a larger amount it might be a good idea to take out sums less the $10K 3 or 4 times on different days.
#2
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Le Mans Master
Joined: Jul 2010
Posts: 5,145
Likes: 7
From: california
St. Jude Donor '15
i wanted to get cash for 17k purchase. i had the money in my account, but the bank will not give that much cash if you just walk in and ask for it. they told me they could give it to me with 24hrs notice. i think they have to report to the govt any time a large sum of money is withdrawn or deposited. i just got the cashier's check for the amount. it just so happened that the seller was a customer of my bank too.
