1fastmr2

http://forums.pelicanparts.com/showt...?t=389093.just though id pass the word along just in case

strictly944

Ok, first things first. I was the one that was at this kids house to pick up the car. I see that he is calling LNS and I crooks. In any standard practice, especially when buying and selling cars, you use a bank draft. Obviously these guys dont have much experience when it comes to selling cars. Before leaving knoxville we asked them to fax us the title for the car. They could not produce one, but assured us that they would have it when we came to pick up the car. When i arrived at the house the car was rigged on some time of cart to roll it around. I had no rush on getting the car up on my trailer. I wanted to check it out and look it over. There was obvious damage from an engine fire but i willin to settle with that seeing as we were looking for a block not a whole car. But the deal seemed pretty good. When i asked the kid to see the title he said that he couldnt show me until the check cleared. I explained to him that it was a bank draft and would not clear until he produced a title. Again, they obviously have not done this very often or they were trying to sell me a stolen car. At this point it was pretty shady. He said that we could get the car loaded and he would get me the title. At this point he was anxious to get this car on my trailer and out of his hands. Before loading the car he gives the check to his mom to call in and get an ok, obviously its not going to check out cause i had no title and i had not given any confirmation to the bank. So him and his dad flip and start getting the car off the trailer. Which was a slow process to begin with. I like how he says i poked his father in the chest to. Didnt happen. i was cleaning my things up to get outta there. As i was cleaning i was grab from the back and thrown up against some rusted out truck. They start yelling that i tried to steal there car. Some how they couldnt understand how a draft worked. They produce a title and show me its not a stolen car or you get no money. LNS is a great shop and i wouldnt stop doing business with them for one second. Mike is a buisness man and is not going to let himself get screwed for one second by some lottery winning yankees. Thought that i would get on and give the other half of the story.

95ONE

Two sides of every coin. thank you for telling your side.

2bridges

Not pertaining to this particular transaction:

As a relatively experienced buyer and seller. I pay and accept two payment methods. Cash and a certified bank check. As a seller I make it 100% clear the payment method I expect. I make zero exceptions.

A "draft" check as you call it = a check without funds. This is no better than a personal check, and you can bet your *** I don't accept any stranger's personal check. I know many shop owners. None buy used parts from a private individual with a "draft" check. Sorry not a standard business practice, and a bit on the questionable side to me.

my 02

ehall

I have to agree.

SoloRacer

Is this the same as a certified bank draft? Because here that is a common practice for buying/selling items like cars. The bank issues the draft and holds the funds (ie: seizes the funds). The person who is buying the car can't get the money back after issuing the draft since the funds are held by the bank. There is a huge difference between this and a personal cheque. With a personal cheque no funds are held - in fact the account may not even have enough cash to cover the cheque.

Is this different in the US? The reason I ask is I bought an RX7 using a bank draft and the guy got all worried. Didn't help that his bank said it looked "fake" - and the draft was issued on a US bank that is a partner of a bank up here. They held it for 10 days waiting for it to clear which to me is no different than a personal cheque in their eyes. In that case he phoned and wanted me to send him the money in a different method and I couldn't because the bank was holding the money for the draft. He eventually got paid but it was a pain in the ***. I guess you could wire the funds but it's hard to do that in person - especially on a weekend. I'm curious as to what method is recommended - aside from packing a suitcase full of cash.

Oh, and I have never heard of any bank that witholds funds without a title. Sounds like BS to me unless there was a loan being taken out and then I could understand the bank needing the title. But a bank giving a loan using a burnt out mid 80's car for collatoral? Sounds impossible. If the funds are in your account the bank really doesn't care what you are buying.

docwyte

I wouldn't give them a check without them producing a good title at the sale. Most banks are holding certified bank checks for upwards to three weeks for them to clear because of all the phony "certified" bank checks floating around now.

1fastmr2

I'm not in on either side just saw it,but man writing a check where the funds arent available?thats a reason I dont take checks.Why would some one make up a bunk story because he didnt have a title ready.sounds a bit fishy to me.anyways just passing the wrod along

eatiles

For me this was a deal gone bad because of poor comunication between the 2 parts. One for no show a good tittle car and the other one getting there with a draft check without consulting with the seller first.

Jfrahm

So tell me more about this Bank Draft thing? To me a check that cannot be verified is not money, just scratch paper. I bought my 968 with a verifiable cashier's check drawn on my bank. The buyer called the bank to make sure it was good and I was on my way. I told him not to call the number on the check but instead to look the number up himself, but he didn't. That's a bad practice as the phone number on the check might go to someone in cahoots with a scammer.

Best thing to do is to get the number for the bank from directory assistance and/or check the online yellow pages, don't just google the bank's name. A scammer could set up a website for Commerce Bank Fidelity and Trust and buy 10 cars in 2 days with a bunch of bad paper.

I've never heard of a bank draft (AFAIK that is the same as a bank check) that could not be verified as good until the bank gets a high sign from the check purchaser. Maybe there is a way to escrow the money but there has to be a way to assure the seller that there is money and that the check is for real.

-Joel.

shiners780

All this can be avoided with...

C
A
S
H

It's what makes the world go 'round.

1fastmr2

yup i never take checks.anyways it just sounds bad half in cash and half in a "certified bank draft" that cant be cashed?i mean come on.You either have the funds or you dont.Your bank wont cut a check your account cant cover.Also whenever I get certified cashiers checks or money orders from my bank it doesnt have anything written on it minus the amount and I fill in the rest.HAs numbers and junk to call to verify funds at Bank of america.Annnnyways I accept these forms of payment cash cash and Paypal.lol

eatiles

now in this days you have to be carefull even with certified checks, because they make the check in the bank, then they go and said that they lost the check and cancel them, then they gave you the original fake certified check. BEWARE, I preffer cash , even then you have to verify the bills