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Discussion Starter #1
Buying a 1995 LandCruiser as a project from a dealer in Illinois. We have signed and returned all paperwork along with a certified bank check. The check was received by dealer on Wednesday. Now the dealer is saying they have a 4-5 day hold on the check and won't release the truck.
The bank said the funds are available instantly with a certified check


Is this absurd?

I have bought my fair share of cars and never had this much headache.
 

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Discussion Starter #3
Yeah same here. A certified check is guaranteed. I'm furious. Maybe it's because we are from out of state , no idea
 

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Incorrect. Certified check, bank check etc is NOT an end all be all transaction, there is still plenty of recourse to yank it back AFTER the fact.

the old saying "cash or coke" exists for a reason.
 

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Just wait the 5 days but there are ways a certified check can still be yanked back.. The dealer must have gotten burned before
 

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I tried to take a certified check back many years ago and was told by the bank it was not possible. Maybe there are different types of certified checks? Im no banker thats for sure...just one experience.
 

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I think it needs a few days when out of state? I tried to buy my first viper that way and I got the same answer as you
 

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Discussion Starter #8
Yeah. Oh well. I am pretty pissed.

Also FYI. A certified bank check is very very hard to cancel, you have to go through quite a few things to do so.
 

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Yeah. Oh well. I am pretty pissed.

Also FYI. A certified bank check is very very hard to cancel, you have to go through quite a few things to do so.
No so. It might be hard to get your money back if you lose it but not if you have it. A Certified Check can have a stop payment put on it just like any other check.

If you lose it, the bank may take up to 90 days to provide you a refund in order to make sure it has not cashed elsewhere.
 

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I believe IMO alot of people in this thread are getting "certified" checks and "Cashiers" checks mixed up.

A cashiers check should have absolutely no problems, a certified check on the other hand can have indeed a stop put on it.
 

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I believe IMO alot of people in this thread are getting "certified" checks and "Cashiers" checks mixed up.

A cashiers check should have absolutely no problems, a certified check on the other hand can have indeed a stop put on it.
My post above holds true for Cashiers Checks as well. They can indeed have stop payments out on them.

I'm gonna guess that the OP does not bank with one of the major banks and that the check is drawn off a smaller or regional bank.
 

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Discussion Starter #13
Well the problem is the dealer is very very slack. Never returning phone calls, emails etc.

It took forever just to finalize the deal, and was a headache.

Mind you the check was received by them at 9:30a.m Wednesday the 17th. Now today they are saying the check may not have been deposited until Friday.....this is horrible customer service.
 

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Unless you are scoring a deal or buying a hard to find car, I would ask for my check back and walk away. Places like that don't need your business and if it is taking them that long to TAKE YOUR MONEY, then imagine what may happen if you ever have an issue with the vehicle
 

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Until one year ago, everybody could call the issuing bank and make sure the check is good and funds are available. In the past few years there have been many issues with fake certified/cashier checks.


Especially if it's a out of state bank, many enterprises will be skeptical, not just dealers.
 

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oldmoney, maybe something happened to vehicle and they're killing time. id probably cancel and look for something similar and better, my 2 cents.
 

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you really cant wait a few days???
 
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