Hey, another car question: Paying "cash"?

[Big Daddy Cool]

When I purchased my last car privately, I didn't feel comfortable walking around with that much cash, so we agreed that I would write a check to him, and we would meet at my bank for the exchange. He immediately went to the teller and cashed it.

[deckeda]

Filliam H. Muffman wrote:
Some people will take a cashiers check if they watch you get it from the teller.

That's what I'd do. Go with him to his bank. He has the Cashier's check made out to you. You both then go to the DMV and have the title transferred. You may then deposit the check "at your leisure" knowing it's good.

[Wailer]

"cash" means different things in different contexts.

At a restaurant, paying your gardener or buying something from a private party, it means greenbacks.

When buying a house or new car, it means "no financing".

[michaelb]

Cash for a used car between private sellers means cash to me. However, there is a limit to how much cash I would comfortable carrying or accepting. So for a junky old used car, in the sub $3000 range, I bought and sold several cars for cash. For used cars worth more, say when I have bought used cars in the $8-10000 range, I would not do that transaction for cash, and then I think it is worth going through a bank and getting a cashiers check.

[Greg]

Thanks, everyone. I'm more comfortable now with the different ways this can be approached.

[Filliam H. Muffman]

M A V I C wrote:
As Racer X said, to a private party cash means cash. Some dealers may think the same. I remember when I sold my last car, two girls show up to look at it, and wanted to buy it right then. They had well over $10k cash in a bag. Yes, I proofed every bill 100's.

They might have been bikini baristas from Everett. I wonder what they sold to make money in 100's... (hookers and booze can be profitable ).

[M A V I C]

The problems with checks is cashier checks can be fake and personal checks can be disputed well after the deposit has been made.

I think it's also important to know what the law is in your state around sales, title transfer... with ours there's just one simple form to fill out and it's done.

[mrbigstuff]

If it doesn't involve a car dealer, and is a private sale, cash means cash. At a dealer/broker, "cash" also can mean cashier's check.

yep. I have sold about a dozen cars over my few years and that is what I mean when I say "cash."

[davester]

All of my "cash" transactions for cars have involved meeting at the buyer's bank and going to the teller window together to obtain a cashier's check. There's no way I'd accept a cashier's check that wasn't handed to me buy a bank employee.

[M A V I C]

davester wrote: There's no way I'd accept a cashier's check that wasn't handed to me buy a bank employee.

QFE.