Need to vent

I had a similar experience with a 308 bought from a forum member. I think the title was also held by capitol one, but I might remember it wrong. It took forever for them to send it. Then it got lost in the mail. Then I had to wait to get a duplicate title.

Sometimes **** happens. Can't do much about it.

Oh, and apparently cashier's checks are no longer like cash. They are basically the same as a personal check nowadays. Banks put a 7 to 10 day hold on them just like a personal check.

-steve

 

This is because of the sheer # of forgeries that are out there these days.
Don't be surprised if, in the near future, 'cash' is treated the same way, i.e., held for 7-10 days while an 'expert' examines it for authenticity.
A very sad reality of today's world.
Oh, and Mike, Congratulations on your 348! I'm jealous!

 

Congrats on your purchase! Once the title does arrive and you can drive the car you will forget all about the wait, truste me

 

In my experience, Bank transfer's seem to be a reliable way to avoid the "hold".

 

Not only is a wire transfer a reliable way to avoid the "hold", but it is the only way to receive a payment that is 100% safe.

 

The last car I bought was leased and it took me 45 days to get the title. I will never buy a car that has it leased unless he gets the title in his hands.

 

LOL!!!!! James

 

In my experience, dealers always do it this way.

 

when I bought my cars I just showed up with a cashiers/certified check and drove off the same day with the car. Im sure dealers call and verify the funds and make sure that it is transfered to their account before they let me leave.

 

Quick! b4 u can drive it, wax it & other menial tasks cause soon u won't have time!

 

Why can't you drive it without the physical title? No registration?

 

When I bought my car, there were complications with the existing title. I had to get a title bond (which the previous owner paid most of the cost of) and then had to wait a number of weeks for the new title. But in Georgia, at least, you could still register and insure the car as long as you had proof (from the agency that issued the bond) that you had applied for the title. (And, BTW, part of the price of the car was, and is still, financed through Capital One! I had no problems with them whatsoever.)

 

I can certainly understand your concern. Until you have the title in your hand it's hard to relax about the purchase. Years ago I waited several weeks for the proper paperwork from what I thought was a very reputable Ferrari, Lotus, Porsche dealer in Miami. I had the car, it was fully paid for and they just dragged their feet.
Having just completed a transaction this week for a 328 from Kansas, I wired the funds to their bank AFTER I had the title in hand. They then released the car for transport to Vermont.
Good Luck!!!
Bradley

 

There are phony cashier checks and wire transfers are not 100% fool proof either. However, checks are now cleared electronically and a couple of business days should be all that is needed.

I share your nervousness, there is nothing like having the title in hand and that is one reason I like to buy from people who actually have it in hand. But it sounds like it should all be OK.

You should be able to insure it even without the title.

Dave

 

Could you explain why a wire transfer is not 100% foolproof?

 

Georgia may let you drive a hotrod of any kind (and I do) on the street. But you have to fill out some paperwork at the Tag Office. Hey, I have 3 rodded street racer sports cars not legal in any other state, so I can’t complain.

 

I can't help witht he title aqnd bank issues, but I can tell you how to get rid of the spam mail. Call the number on the spam, where you'll be on hold for a long time. When you finally get someone to take your account information, tell them you want to be taken off all of their lists. They'll do that, and then after a week or two, you'll quit getting the spam. It worked for me.

Bob Wassam

 

Why can't you insure it w/o the title??