Buying a GTS, question regarding paying for it

[GotA350ZTT]

I'll be buying a B/W 97 GTS over the next week or two sometime. The car is located in Michigan, and I'm in VA. The problem is that the guy I'm buying it from has no bank account (older guy, only deals with cash). I need to somehow get him the money in cash, but I'm definitely not going to carry around that much money on the plane.

Anybody have any suggestions? I have an ex-gf that lives nearby that I was thinking I could transfer the money into her account and then he could come to the bank with me to get the cash....but I'm not sure if she has a MI bank yet.

Just seeing if there are any other alternatives you guys may know of.


* addendum: read the through the read for my responses for a full understanding of the latest.

 

[Dealmaker]

Take travelers checks with you, cash them when you get there.

 

[RevHeat]

Be careful!!! I would not buy the car if that was the case. Only deals with cash, sounds like a set-up.

Rev

 

[PhoenixGTS]

The problem is that the guy I'm buying it from has no bank account (older guy, only deals with cash).

This would not happen to be an old guy from Nigeria would it?

I can smell the rotten egg smell of this deal all the way over here in Arizona.

Third party personal proptery escrow service is only safe solution I can think of.

 

[GotA350ZTT]

Lol, my ex gf is going to look at the car before I go, but everything should be legit. What I'm thinking is wiring my ex gf the money and then going to the bank with him with the car and title in hand. Obviously at that point there should be no issues or worries of scam.

 

[RevHeat]

Well, good luck to you! I am at the point when I am ready to by my next viper (another 1996 GTS), I am going straight to Bernie Katz (Untitled Document).

Rev

 

[Red Snake]

Well, good luck to you! I am at the point when I am ready to by my next viper (another 1996 GTS), I am going straight to Bernie Katz (Untitled Document).

Rev

Call Bernie!!

 

[Limit]

Hate to put doubt into your brain but...lemon?

 

[plumcrazy]

bernie might be able to make some kind of transaction for ya. with a charge of course and its worth it with him. he can be trusted

otherwise, id say walk away from the deal

 

[99 R/T 10]

You might be back here saying "got ripped off by an old dude!" This smells fishy..........

 

[Asp Man]

There are lots of fish in the ocean, this one stinks. Look for another, I say. Find one owned by a VCA member, if possible. Get a VCA member to look the car over first, do a Carfax, run the VIN through the dmv, ask around, ask where it was serviced, then ask them, buy Maurice Liangs' book, and so on...
Even if this guy had a bank account, (which he most likely does) my spidey senses are tingling from here!
Is there something particularly special about this GTS?? Is the "deal" so good it's almost too good to be true?

Just don't want anyone in the V community to get burned, that's all.

I say "no cash for old man".

 

[chimazo]

In this day and age, how can you not have a bank account? How does this "older guy" deposit his paycheck, cash his IRS refund, social security check, etc??

Cash only? ***?!

With all the Vipers on the market right now, you can't find one owned by someone legit?

 

[BJ MOTORS]

If you need advise or help feel free to call me.

 

[PSilverGTS]

In this day and age there is no reason why someone would take cash only for a car that costs more than 10k. I would walk away from the deal. Stolen cars are cash only deals. This guy is trying to hide something for his own benefit. There are other Vipers out there. He will agree to "meet you at the bank" but when you get there, the deal will change and he will find a way to run with your money. Cons know how to work on peoples’ emotions, so look for the red flags. Now that he knows you have the money, he will try every trick to separate you from it.

 

[anaconda666]

What I'm thinking is wiring my ex gf the money

I'd be more worried about this part of the transaction! lol, Ron.

 

[TS6]

I'm with everyone else here. Theres no reasonable way to operate without a bank account, he's up to something.

 

[viperdude118]

I'd be more worried about this part of the transaction! lol, Ron.

Sounds to me like the ex girlfriend is setting you up to get some money out of you.

 

[ViperJohn]

Try to keep this one away from drill bits.

 

[Burntrubber]

bernie might be able to make some kind of transaction for ya. with a charge of course and its worth it with him. he can be trusted

otherwise, id say walk away from the deal

yup, not a bad idea

 

[Lee00blacksilverGTS]

HAS to be a scam, especially in light of ther fact that any deposit of cash over 10k is going to be reported to IRS and DEA. Which is probably the exact reason this guy does not have a bank account. And the car is either stolen or is being processed with laundered drug money. YOU are going to be holding the bag when this is all done. If he won't accept a wire transfer into SOME account then walk away very, very quickly. Nobody except a crook is walking around with NO bank account.

 

[AZTVR]

Just seeing if there are any other alternatives you guys may know of.

In this day an age of scammers and fake cashier's checks and such, I wouldn't be surprised that a seller would only want to take cash. The story about no bank account is suspicious, though, but maybe he doesn't want to explain why he doesn't trust you.

I would see if there is a bank in his location that is also in your location, such as Bank of America. Then open up a free checking account and deposit the money. Then go to his location, and get a bank officer to notarize the Title after the seller signs it, and notarize a Bill of Sale, at the same time that you hand over the money and he hands over the keys. I would only do it if the Title is in his name and you check his driver's license.

 

[GotA350ZTT]

In this day an age of scammers and fake cashier's checks and such, I wouldn't be surprised that a seller would only want to take cash. The story about no bank account is suspicious, though, but maybe he doesn't want to explain why he doesn't trust you.

I would see if there is a bank in his location that is also in your location, such as Bank of America. Then open up a free checking account and deposit the money. Then go to his location, and get a bank officer to notarize the Title after the seller signs it, and notarize a Bill of Sale, at the same time that you hand over the money and he hands over the keys. I would only do it if the Title is in his name and you check his driver's license.

I spoke with Bernie and this is similar to what we had discussed as an option. Aside from the no bank account, everything else checks out. He has no problem with my friend going to look at the car prior, he didn't have a problem somehow cashing a cashiers check if the bank could do it without having an account.

So if I open an account with Bank of America, go with him to the bank, verify the title drivers license, etc is all legit...get everything notarized...get a cashiers check with him there, and put in the memo for Viper, and then have him cash it right away (they would have him fill out the IRS forms obviously since it's over $10k)....then it should be ok, no?

I have all of his info including his phone #, his address, the dealer he bought the car from (he is the first owner), the dealer he has it serviced at (will call tomorrow), the VIN, his full name, etc.

In fact he said he was a Viper club member a few years back, he used to have a 95 RT/10 I believe.

There is even more stuff that seems to check everything out ok, just the bank thing is the only issue...and even then he seems to be able to work with me.

Bernie really helped out with what I need to do, and what I need to look for in the car to make sure it wasn't somehow repainted or in an accident, etc (Thanks Bernie!).

Thoughts based on this info?

 

[FE 065]

Without reading everyone's reponse, I'll add quickly..

You'd have to arrange in advance for your ex g/f bank to have that much cash on hand to give you #1.


Instead, open an account in VA with a bank that has a branch in MI near enough where the car is. Like Chase. Put the money in your Chase account in VA and advise the Chase bank in MI you want cash on hand on a certain date.

You and the seller go to the MI bank, you withdraw the money and hand it to him inside the bank.


Or have your x g/f open an account for $25 at a bank near him if there isn't a VA bank with a branch in MI and you and her can deposit the money into the account and have him meet you at that bank.


That's not even mentioning whether a cash deal is a good idea in the first place-just a way to facilitate it.



When I sold my '99 GTS, the buyer had an account with Chase, so I opened an account with Chase as well and we did it all at a bank near his house without any bogus checks to worry about etc

 

[GotA350ZTT]

FE 065 - exactly what I said in the above post So that definitely sounds like it will be the way to facilitate the money.

 

[fastmd]

I spoke with Bernie and this is similar to what we had discussed as an option. Aside from the no bank account, everything else checks out. He has no problem with my friend going to look at the car prior, he didn't have a problem somehow cashing a cashiers check if the bank could do it without having an account.

So if I open an account with Bank of America, go with him to the bank, verify the title drivers license, etc is all legit...get everything notarized...get a cashiers check with him there, and put in the memo for Viper, and then have him cash it right away (they would have him fill out the IRS forms obviously since it's over $10k)....then it should be ok, no?

I have all of his info including his phone #, his address, the dealer he bought the car from (he is the first owner), the dealer he has it serviced at (will call tomorrow), the VIN, his full name, etc.

In fact he said he was a Viper club member a few years back, he used to have a 95 RT/10 I believe.

There is even more stuff that seems to check everything out ok, just the bank thing is the only issue...and even then he seems to be able to work with me.

Bernie really helped out with what I need to do, and what I need to look for in the car to make sure it wasn't somehow repainted or in an accident, etc (Thanks Bernie!).

Thoughts based on this info?

There are no IRS forms to be filled out. All 10k cash and now wire transactions are monitored by banks (after 9/11).

If this is a car that checks out, deal can't be passed up, fly out there with the cash/cashiers check etc. and leave everything in your hotel safe. Go look at the car, and buy it if you like it. He probably has a bank account, but does not want to be scammed by a fake bank check.

Cash is always king.

 

[PAvenomRT/10]

Have you considered the idea that your ex gf, knowing of your interest in Vipers, is setting you up with this old guy? How amicalble was your breakup?
Sounds very suspicious to me.
PAvenom RT/10

 

[GotA350ZTT]

Have you considered the idea that your ex gf, knowing of your interest in Vipers, is setting you up with this old guy? How amicalble was your breakup?
Sounds very suspicious to me.
PAvenom RT/10

LMAO, we broke up about 2 years ago, friends since. She goes to law school out in MI but lives in MD. She's definitely not setting me up

I have spent the majority of yesterday and today verifying all information on the car, speaking with BJ Motors, Chuck Tator, banks, carfax, dealerships (to verify service and ownership), etc.

Other than the bank situation, everything else seems perfectly fine. I've worked out a method for the bank stuff where this process will take place:

I will wire the money into ex-gf account. She will go to the bank a week before and schedule a day for the bank to make sure to have the cash on hand. The day I buy the car, we will all go to bank. Ex-gf will get a cashiers check to seller, which will have a memo of buying the car (the paper trail), he will hand it back and cash it in. Bill of sale will be notarized at the bank.

With all this in mind, I don't really see how I could possibly be scammed...but if you can think of anything, I'm definitely all ears.

 

[Dom426h]

cash only? let ex hold $?

this thread is ameture night...

 

[Madduc]

I don't know what the big deal is with cash only. Last year I sold my SRT-10 Ram, and told the out of state buyer BANK Cashiers check ONLY. Guess what he showed up with. Less than half cash, and a personal check. After going to my bank to ATTEMPT to verify the check I had to send him home. I still had the cash but had to wait for him to return with a cashiers check in a week. Then my bank put a 10 day hold on the Bank Cashiers check. I had his bank on the phone, while I was at my bank trying to get the funds ok'd. Had to send him home again to wait for the damn banks to get all their a**'s in sinc. BS. Finally got the deal done after close to three weeks. Maybe this seller just doesn't like dealing with out of state banks. Cash is accepted everywhere. Banks are quick to TAKE your money, but to give you money, well they need to sit on it for two weeks to make sure it's good.

 

[plumcrazy]

If you need advise or help feel free to call me.

glad to see you take bernie up on this offer.

but id still be careful