This is why you NEVER accept a certified check when selling a car

Solid advice here. Scammers have gotten good.

A number of years ago a guy in town sold his late 60's Corvette muscle car and accepted a cashier's check as payment. Next day he got an urgent call from his bank alerting him that the check was no good. Turns out the check was created on a machine from a real bank, but the bank had gone out of business over year ago and somebody obtained the machine and printed the fraudulent cashier's check. You can NEVER be too careful.

I would use cash instead, but the fact that it can be legally seized if I get pulled over on my way to pickup the car terrifies me.

Just want to make clear the difference between a cashier's check vs. certified check. He says it was paid with a cashier's check 0:55. A cashier's check is issued by the bank using it's own funds. It's also guaranteed. To get one, you must go to the bank and give the money (to cover the exact amount) pay a fee for the check and a put the Name of the recipient on the check as well. That money is then put into the banks own account and the check is printed out with the amount and recipient's name. It's guaranteed by the bank because it's using its own funds. Once you give the check to the recipient, he will deposit the check and the funds will go from the bank's own account to his account. The only person getting that money is the recipient whose name appears on the cashier's check. There is no way for the person buying the car to reverse the check or transfer the money back to his account once it's presented for payment by the recipient. It's a done deal. He then says that the person paid with a 'certified check' 1:25 (which is very different than a cashier's check).With a certified check the money stays in the person's account until the check clears. The bank "should" freeze the funds in the account so that they are available when the check is deposited. Bottom line: A cashier's check is more secure than a certified check.

I’m selling my M6 right now was ask if I take a certified check. Told the guy yes if he let it clear my account and he had no issues with. Check cleared and before I had the car shipped the bank called saying the moeny was stolen In the same way. I was a day away from losing me car

I sold Mercedes for a few years, we would get A LOT of exporters trying use fake cashier’s checks from various banks. Crazy!

Recently bought Audi from Boston and same thing. Had to wire money instead of Bank/Cashier check.. This makes sense now. Scammers have to ruin everything..

So as it turns out, it wasn't his dad who pulled up, but it was his daddy.

When I've sold privately, I required the buyer meet me at their bank, and we both went in to meet with the manager. The bank likes it because it lets them look at the car that is securing the loan, and I like it because I know I'm getting a good check.

I almost had a mk4 stolen by a buyer who supposedly flew in from Chicago with a cashier's check. Saving grace was I wouldn't let him have the car AND the title until the check fully cleared.

A cashiers check and a certified check are not the same. A certified check is a personal check that the bank stamps that the funds are guaranteed to be in the account. A cashiers check is a check drawn on the banks own account. Generally a cashiers check is less risky.

I do not like scammers. But they’re no different from dealers with these insane markups. 😂

Many decades ago there was a scam in my state where someone would buy a car with a personal check and tell the dealer not to cash it until Monday because there isn't enough money in the account right now. At the time dealers would let you have the car without first waiting for the check to clear. When the check bounced the police couldn't go after them because the dealer knew the check was not good when they accepted it.

Thanks for actually having an actual car story again

I have sold cars and it is either verified cash or we go to your bank and the bank gives me the cash from your account. NO CHECK OF ANY KIND.

This seems misleading. Sounds like he was using a certified check and not a cashier's check. Cashier's checks are drawn from the bank's account (and the money is moved into the bank's account from the person's own account first before the check is created). When I have bought my cars with cashier's checks the bank pulls the money out of my account, puts it in their own account, and issues the cashier's check. Could also been an issue here because they had the money but it was obtained fraudulently, so it eventually got put on hold or frozen.

Out here in California it's a common thing for dealers to ask for a "work social" AKA stolen ssn if you're undocumented and trying to buy a car.

I bought a new vehicle recently and for the first time ever they wanted to hold certified funds, it really ticked me off. I guess I know why now. We came to terms and they took it after all, but still very frustrating.

Dang. I need to go check my accounts. The last 5 cars I purchased were done with personal checks, no financing. I never really thought about the dealers perspective.

Remember a check is nothing more than a piece of paper.