I know there are a few members here that work for dealerships so hopefully someone can help me. My street boss should arrive within the next couple of weeks if there aren't any delays (yeah, we all know how likely that is but I can hope). I have money in a Prudential account to pay cash for the car. I have a check pad that I can use to write checks directly from the account. Will the dealer be able (and willing) to accept a check from a Prudential account? Or will I need to transfer the money to my local bank account? Or will I most likely have to get a cashiers check? I want to be prepared before the car gets here so I can pick it up right after it gets off the truck.

Thanks in advance.

 

I would say- Ask the dealer from whom you are purchasing the car.

That's the only dealership information that counts....

 

Yeah, I know I need to talk to them about it. I just don't want to give them any reason to try to change the deal I had to work out with them twice. We originally agreed on list price and I gave them my down payment. After seeing that the down payment never went through my bank for three weeks I asked what was going on, the salesman then told me they needed $2k over. I again had to haggle with them for list. After that the down payment was posted to my bank. I'm just afraid that they will look for any reason to try to change the deal and if I tell them I'm paying cash for the car they will try to demand ADM again because they won't make any money on financing.

If possible I would like to avoid discussing payment with them until everything is finalized and all that's left is to pay for the car.

I just thought I would get any possible info here before having to talk to the dealer. They haven't been very trustworthy so far.

Thanks,

 

If you have worked out financing with them then just leave it that way. After you take possession of the car pay of the loan before the first payment is due. Just make sure there are no penalties for paying it off early

 

You could just walk in with a stack of $100 bills as I assume most dealers take cash

Seriously though, when I bought my GT, I had the dealer provide me with the OTD total and showed up with a bank check... but of course they mis-calculated something and I had to write a personal check for ~$150.

 

You will need a cashiers check.

 

Anything over $10k in cash and they call the feds. No more laundering drug money through new car purchases.

 

Dang! There goes my plan.

Seriously, I've already passed a federal background check so this shouldn't be a problem.

After talking with some other people I think I'm just going to write them a check and see what happens. I figure as long as they can verify the funds are there they shouldn't have a problem.

 

I bet they will take a personal check. FWIW I've written a check from a Money Market checking account before for a car. They didn't blink an eye.

 

Most dealers will take personal checks. But on the flipside our dealer won't unless its from a prior customer of ours that we know and trust.