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Can i purchase a car with a Bank Cashier's Check?
I am saving my pay checks direct deposited into my account to buy a newly/used car roughly 10-15K my bank terms and conditions state i have to pay an 8$ fee for the check but there is no limit i believe because it does not say anything about the limit its a chase liquid account. Anyway at the time of purchase can i pay with the cashiers check and will i be able to drive it home the same day? I am looking at a Nissan Sentra newer body style. And is there any tips and pointers to be aware of with the dealer about the purchase and negotiating for example if the car is 10,000$ flat can i offer 9,500$ with all dealer doc fees tax title and registration included in the price or is that asking a little to much? Because i know cash gives you more wiggle room.
3 Answers
- Really ?Lv 78 years agoFavorite Answer
I pay cash for my cars.. it DOES not give any more wiggle room then if you borrow the money. Can you just write a personal check on your account? But when you pay most dealers will let you take the car the same day. I have signed the papers and taken the car with out paying for it until I moved some money around to cover the check. Your best bet, ask the dealer what they will want or let you do.
- TiggyWiggyLv 78 years ago
Cash is NOT king when buying cars, not like it used to be 50 years ago.
You can't get a "blank" cashiers check. It has to made out to someone specific for a specific amount.
So you go find the car you want, negotiate your best price, including all taxes and fees, then go to the bank and get a cashiers check made out to the dealer/seller for the total amount of the sale. The bank will then deduct that amount plus $8 from your account.
In terms of negotiating, find out what the car is worth before you begin worrying about how much to offer. Go to KBB.com and NADAGuides.com to get values. It might be that the $9500 that you would offer for a car marked $10,000 is too much. Of it might be a good deal. But you don't fully know what the car is worth until you know its condition, which is best determine by having a professional mechanic inspect the car BEFORE you buy it. Use any problems found to negotiate a lower price.