Looking for advice - used car nightmare
05-06-2020, 03:24 PM
#61
Burning Brakes
Meet at the bank and not at your home. Who knows what this person is capable of
05-06-2020, 04:18 PM
#62
Burning Brakes
If possible, I would deposit the draft at the same bank that issued the draft (if you have an account at that bank), so that you can verify right away that the cheque is good and was not cancelled. In any event, get this cheque to a bank ASAP. Also advise the bank of the situation so that they know to prioritize depositing/clearing the cheque
"Difference Between Bank Draft vs Certified Cheque. A Bank Draft is a mode of payment wherein the issuing bank guarantees the payment of the amount on behalf of the payer. ... A certified check is a cheque signed by the payer and guaranteed by the bank that in payer has sufficient balance in the account to cover the amount."
I only use a bank draft to purchase my cars. I know that the money is withdrawn from my bank account and transferred to the bank's internal account when they issue my bank draft.
I believe that with a certified cheque the bank is "certifying" that there are sufficient funds to clear the cheque I do not know of circumstances whereby those funds can be removed from the account before the cheque is cashed.
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maximusbibicus (05-06-2020)
05-06-2020, 04:34 PM
#63
Captain Obvious
Super User
Super User
I am not a banker so I may be wrong but -
"Difference Between Bank Draft vs Certified Cheque. A Bank Draft is a mode of payment wherein the issuing bank guarantees the payment of the amount on behalf of the payer. ... A certified check is a cheque signed by the payer and guaranteed by the bank that in payer has sufficient balance in the account to cover the amount."
I only use a bank draft to purchase my cars. I know that the money is withdrawn from my bank account and transferred to the bank's internal account when they issue my bank draft.
I believe that with a certified cheque the bank is "certifying" that there are sufficient funds to clear the cheque I do not know of circumstances whereby those funds can be removed from the account before the cheque is cashed.
"Difference Between Bank Draft vs Certified Cheque. A Bank Draft is a mode of payment wherein the issuing bank guarantees the payment of the amount on behalf of the payer. ... A certified check is a cheque signed by the payer and guaranteed by the bank that in payer has sufficient balance in the account to cover the amount."
I only use a bank draft to purchase my cars. I know that the money is withdrawn from my bank account and transferred to the bank's internal account when they issue my bank draft.
I believe that with a certified cheque the bank is "certifying" that there are sufficient funds to clear the cheque I do not know of circumstances whereby those funds can be removed from the account before the cheque is cashed.
05-06-2020, 05:45 PM
#65
Drifting
what I mean is that you don’t want them to claim future expenses of getting that car driving against what they owe for taking it back. That car did drive off their lot seemingly ok. They might claim that it’s in a very different running state than when it was sold, and the costs to return it to the similar state are not theirs. You need the full amount before they learn the car is worse than they might currently think it is.
05-07-2020, 12:03 PM
#66
Nordschleife Master
make sure he provides a certified form or payment (as he would himself) - and of course record the video of him starting the car and leaving with your phone and post here.
So apparently the guy himself will be coming with a cheque within the next week to pick up the car. He insists that he doesn't need a tow truck and plans to drive the car back to his lot (~40 mins). This should be interesting.... the car can barely start (you need to hold the start button for a good 8-10 seconds before it fires up), the dash is lit up like a Christmas tree, the brakes are pulsating really badly, the transmission is bucking, and apparently the car is in some sort of limp mode (won't go over 3k). 
05-16-2020, 11:58 PM
#67
Nordschleife Master
did he show up?
So apparently the guy himself will be coming with a cheque within the next week to pick up the car. He insists that he doesn't need a tow truck and plans to drive the car back to his lot (~40 mins). This should be interesting.... the car can barely start (you need to hold the start button for a good 8-10 seconds before it fires up), the dash is lit up like a Christmas tree, the brakes are pulsating really badly, the transmission is bucking, and apparently the car is in some sort of limp mode (won't go over 3k).
05-18-2020, 01:18 PM
#69
Drifting
The one trap people fall into in this situation is that IF they accept the deal to fix this car - they are stuck with it. Anyone checking the CarFax in the future will see the work done to this vehicle and run for the hills. The car will be worthless as soon as you get it back. Your best recourse would be to park it somewhere in a North York plaza parking lot with the keys in it and running and go for a long coffee... (having full insurance on it 
)
)
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myw (05-18-2020)
05-19-2020, 01:07 PM
#70
Advanced
Thread Starter
The one trap people fall into in this situation is that IF they accept the deal to fix this car - they are stuck with it. Anyone checking the CarFax in the future will see the work done to this vehicle and run for the hills. The car will be worthless as soon as you get it back. Your best recourse would be to park it somewhere in a North York plaza parking lot with the keys in it and running and go for a long coffee... (having full insurance on it )
)And I won't say that idea never crossed our minds
05-19-2020, 04:29 PM
#71
Captain Obvious
Super User
Super User
Sounds to me that the dealer is using every excuse he has to stall. At the end he will claim he or someone in his family got the Rona and can't make it. This is not a good sign.
05-19-2020, 07:10 PM
#72
Nordschleife Master
definitely keep us updated - i would highly recommend turning your phone mic on (for $h!t$ and giggles) when chatting with him one last time. can't imagine the crap he will spew out to justify all this.
05-25-2020, 10:51 AM
#73
Team Owner
im not convinced he will even show... those places are a cash business heaven .. he has a ton of it.. he doesnt need more time. he is up to something.
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myw (05-25-2020)
