Selling thru a bank check

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MegansDad

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The search function gave me nothing.
I know it has been asked before, I am selling a truck and the buyer wants to give me a check from his Credit Union.
What is the process for this as far as waiting for check to clear. Do I give him truck but no pink slip?
What if he crashes the truck on the drive home.
 
Don't do it.

CASH or Direct Transfer from their bank, Certified check would be third and last option.

And Direct Transfer is not a 3rd party AP like ZELLE, etc. that can be scammed via a bogus deposit, etc.

Easy enough to drive to their bank and do the transaction right there, walk away with cash.
 
Zeropulp said:
Meet him at his CU and have them give you a cashiers check while you both stand there
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So a cashiers check is ok.
Crusty said:
Don't do it.

CASH or Direct Transfer from their bank, Certified check would be third and last option.

And Direct Transfer is not a 3rd party AP like ZELLE, etc. that can be scammed via a bogus deposit, etc.

Easy enough to drive to their bank and do the transaction right there, walk away with cash.
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My bank told me his small credit union probably would not have enough cash on hand to do that.
 
Zeropulp said:
Meet him at his CU and have them give you a cashiers check while you both stand there
Click to expand...
THIS!
Or do a wire transfer from his Credit Union. That is instant, but there will still about a day till you actually can use the funds.
 
Zeropulp said:
Meet him at his CU and have them give you a cashiers check while you both stand there
Click to expand...
I did this a few months ago when I bought my dually. Seller met me at my CU and they cut him a check. Simple.
 
Or have him meet you at your bank/credit union and have them verify that it is a legit bank check before handing over the keys.
 
Have him make a wire transfer from his bank to yours. Meet him with the truck at his Credit Union, bring with you a printed routing slip from your bank. Walk up with him to the teller have him give the teller the amount and then hand the teller your bank slip. Do not give the buyer the routing slip and have the teller hand it back to you once the transaction is complete. Then call your bank, confirm the transfer and at that point start to hand over titles and keys.

If they do not want to go thru this, walk away your being scammed.
 
here's the problem with a cashiers check. I sold my rzr for 30k, guy brings me 20 cash and 10 cashiers, my CU had to hold it for 10 days. His bank didn't hold it, mine did and wouldn't move off the hold for any reason.
 
MWB said:
Have him make a wire transfer from his bank to yours. Meet him with the truck at his Credit Union, bring with you a printed routing slip from your bank. Walk up with him to the teller have him give the teller the amount and then hand the teller your bank slip. Do not give the buyer the routing slip and have the teller hand it back to you once the transaction is complete. Then call your bank, confirm the transfer and at that point start to hand over titles and keys.

If they do not want to go thru this, walk away your being scammed.
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i did a wire transfer on a car trailer I sold, I thought the old guy was scamming me when he said he wanted to wire transfer. I had never done it, and found out that's the safest way, once it goes, it cant be taken back
 
I just hold his wife till the check clears... wait nevermind...get his dog, hold his dog till the check clears.
 
The bank should be able to order the cash for him if everything else makes you uncomfortable. Takes a few days.
 
Zeropulp said:
Meet him at his CU and have them give you a cashiers check while you both stand there
Click to expand...
This / You will be able to Cash the Credit Union Check right in front of him. This is the best way
 
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