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Reply to "When people say they "pay cash" for a car..."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Usually certified check from bank. [/quote] Why? Why not just cut a regular check? That’s all we’ve had to do to pay for cars that cost between $55k and $75k. Is there something I’m missing?[/quote] A personal check could bounce. A certified check carries a guarantee from the bank that the funds are available and set aside to cover this specific transaction. [/quote] But they have a lien on the car if the check bounces--they'll just come take it back. It is similar to when you have work done on your home and they send an invoice once the work is complete. [/quote] That's a huge hassle. If there is any question about the funds, much easier to get the guarantee. [/quote] Right, but the question was why a dealer would allow it, and this is one of the reasons they have allowed it: the lien. [/quote]
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