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Sat 10 Jul, 2004 03:59 pm
I read today about a crook who goes around buying used cars with fraudulent cashier's checks.
How should an honest person selling his/her own car protect himself from this practice?
Immediatly call the bank the check was drawn on and confirm its authenticity. Or you can demand cash which is much harder to create fraudulently.
I would never take a personal check. Have them pay in cash or a bank money order.
If you are selling your own car. Make them bring the cash.
It's so much safer that way. Oh, and NEVER do that, can-I-use-your-tags-to-get-it-home. You will regret that one. My brother did that once. He really, really regretted that stupid move.
Good point AngryWaves.
Just take the buyer and his check to the bank. When the cash comes across the counter, sign the title. If it's a weekend, and the bank isn't open, offer to hold the car and the check till it is open. Otherwise, the car remains on the market.
What's with the cashier's check, anyway? They are made out for an exact amount. The buyer couldn't know how much to have it made out for, in any case.