Okay, so I'm finally taking the leap to get a Macan. I'm going from a credit union and my bank. I was planning on wiring both checks to the dealership, but the credit union says they don't wire checks. So now, I'm bringing in a cashiers check and the loan check from my credit union in person. Because of this, the dealer says they have to go with an option contract, where i would finance through them but that contract would get shredded once the two checks I bring in clear. I'm new to this and my first time buying a car on my own. Is this common ? I just don't want to get stuck financing through the dealership since their apr is probably double what I'm getting from my credit union. I hope I didn't confuse anyone with my situation. Thank you ahead of time and any comments are very much appreciated.

 

Dealer just took my personal check.

 

did you make a deposit on the car to hold the car?

 

did you make a deposit on the car to hold it, sorry for the previous comment

 

Granted, I don’t know all the pertinent details, but it does sound unnecessary. As you probably know, dealerships also make money on the back end, which would cause me to question their motives. A cashier’s check is essentially cash, and a loan check from your credit union made out directly to the dealership takes any risk out of the deal for the dealership. Similar to Red Horse, I wrote a personal check for my turbo and drove it off the lot immediately. You should push back and ask the dealership for their rationale.

 

dealership took my bank's cashier's check with no problem. make sure they dont have any hidden fees the way they propose, sounds a little suspicious. good luck

 

Dealer should take your checks, they can even call the bank to verify the check. Sounds like they are trying to make a buck. Where are you located?

 

We can guess all day.

It looks pretty innocent, based on the definition of what an option contract actually is

Please read the following:




It sounds as though they're just making sure you won't renege on the deal.

That said, they should accept the instruments you've described without hesitation.

 

Admittedly I've done this a few more times than you (I'm 75 and according to my insurance company - USAA - I've insured 67 cars with them) - some were financed but most were cash deals with only 1 lease in all these...and I've never had this issue come up - deals done in Texas, California, Tennessee, Colorado, Oklahoma...and dealers all accepted checks - personal, bank, cashier, etc. As others have said, you might want to ask what they are concerned about. All it takes is a phone call from the dealer finance manager to the bank manager to verify that you have valid checks with good funds.

 

No. They had to get the car I wanted from an out of state dealer. We agreed on a price and they called me when it came in. I paid with a check and drove off.

 

thank you guys for the reply. I was told they would accept my checks with no option contract.

 

sorry but this makes no sense. the man has a cashier’s check and a loan check made out to the dealer from a credit union. both of these are more than sufficient forms of payment, which actually make the dealer’s job easy.

furthermore, a fully executed contract where payment has changed hands should be stronger and more desirable to the dealer than an option/promise. the dealer is making a simple, straightforward sale more complicated, and that would make me wary and suspicious. caveat emptor.