Can you buy a new car with a cashiers check without unfreezing a credit freeze?

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tc101
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Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by tc101 » Mon Apr 08, 2019 7:54 pm

I have a credit freeze, and last time I unfreezed it I had a problem. I won't go into details. I told a new car dealer that if I bought from him I could pay with a cashiers check, but I would not unfreeze to let him do a credit check. He said they insist on a credit check to make sure they are selling the car to the true person.

I stopped at a used car dealer on the way home and he said if someone is paying with a cashiers check no credit check is needed. I called car max and they said the same thing.

If I just absolutely refuse to unfreeze my credit will the new car dealer sell me the car anyway, or is there some law that prevents that?
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MP123
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by MP123 » Mon Apr 08, 2019 8:00 pm

I've never had a credit check for a cash car purchase including new cars. But it might depend on your state, the particular dealer, and so on.

student
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by student » Mon Apr 08, 2019 8:02 pm

According to this, you do not need to agree to a credit check. https://www.creditcards.com/credit-card ... r-loan.php

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tc101
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by tc101 » Mon Apr 08, 2019 8:37 pm

Thanks for that link.

Once the price is agreed on, and I come in with a cashiers check for the drive out price they have given me, is there any other tricky stuff they will try at the closing?
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by OnTrack » Mon Apr 08, 2019 8:47 pm

tc101 wrote:
Mon Apr 08, 2019 8:37 pm
Thanks for that link.

Once the price is agreed on, and I come in with a cashiers check for the drive out price they have given me, is there any other tricky stuff they will try at the closing?
I ask for an "out the door" price meaning that I expect registration, all taxes, and fees to be included in the quoted price. They might try to sell you additional things such as extended warranty or rust protection, but you don't need to buy these.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by baconavocado » Mon Apr 08, 2019 8:49 pm

I've been told more than once by new car dealers that I must fill out a complete credit application and agree to (and pay for) a credit check even if I'm paying with a personal or cashier's check. Because of this they said there's no reason to go through the trouble to get a cashier's check. They said this was to protect them between the time I drive it off the lot, the money lands in their account, and the title is transferred by the state. It doesn't make sense to me, particularly with a cashier's check, but maybe these things can be counterfeited or something and anyway I just quit arguing with them.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by fourwaystreet » Mon Apr 08, 2019 8:58 pm

I also have a credit freeze and paid for my last new vehicle with a cashier check and there were no issues at all. The dealership was quite happy to take my money.
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by OnTrack » Mon Apr 08, 2019 9:02 pm

baconavocado wrote:
Mon Apr 08, 2019 8:49 pm
I've been told more than once by new car dealers that I must fill out a complete credit application and agree to (and pay for) a credit check even if I'm paying with a personal or cashier's check. Because of this they said there's no reason to go through the trouble to get a cashier's check. They said this was to protect them between the time I drive it off the lot, the money lands in their account, and the title is transferred by the state. It doesn't make sense to me, particularly with a cashier's check, but maybe these things can be counterfeited or something and anyway I just quit arguing with them.
When purchasing a house, the only option I was given was a wire transfer. They would not accept a certified check.

I'm surprised that a car dealer would not accept a cashiers check without a credit check though. In fact the last car I bought I paid with a personal check. Before, agreeing to the deal, I told the dealer that I would have to come back in a couple of days after I transferred sufficient funds to my checking account and they said just to write the check and they would not cash it for a few days. I did not need to fill out a loan application. Probably, they were worried if I walked out without signing a deal, that I wouldn't come back.

Edit: Just to be clear, the last car I bought (1) I paid the entire amount with a personal check, (2) there was no credit check, (3) I didn't have to fill out a loan application, (4) the dealer was aware the there was not enough money in the account to cover the check and they agreed not to cash the check until I informed them that the cash was available and (5) I drove away with the car that same day (when they knew there wouldn't be money to cover the check for several days. Oh, and I had never done business with the dealer before nor did I personally know anyone at the dealer.
Last edited by OnTrack on Tue Apr 09, 2019 11:20 am, edited 4 times in total.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by stan1 » Mon Apr 08, 2019 9:05 pm

My local dealers accept personal checks and don't require unfreezing credit, but they do require a loan application that is discarded when the check clears.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by crystalbank » Mon Apr 08, 2019 9:10 pm

Yep, I bought both my cars that way. Paid using a cashiers check and just my DL. No credit check. The first dealer asked no questions and was very helpful. The second dealer gave me the same spiel about they need to verify identity as it's their policy etc., I was about to walk away and then they agreed.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by AlphaLess » Mon Apr 08, 2019 9:15 pm

tc101 wrote:
Mon Apr 08, 2019 7:54 pm
I have a credit freeze, and last time I unfreezed it I had a problem. I won't go into details. I told a new car dealer that if I bought from him I could pay with a cashiers check, but I would not unfreeze to let him do a credit check. He said they insist on a credit check to make sure they are selling the car to the true person.

I stopped at a used car dealer on the way home and he said if someone is paying with a cashiers check no credit check is needed. I called car max and they said the same thing.

If I just absolutely refuse to unfreeze my credit will the new car dealer sell me the car anyway, or is there some law that prevents that?
That's called a bluff.

A driver's license is sufficient to know who you are selling to.
Add in an insurance policy.
And for good measure, through in a lease or a utility bill.
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by msi » Mon Apr 08, 2019 9:22 pm

I bought my current car with a cashier's check and no credit check. Hassle-free.

Sounds like your dealer is being sleazy.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by wageoghe » Mon Apr 08, 2019 9:30 pm

This is at least the second time recently someone has posted about using a cashier’s check to buy a car. It had never occurred to me to buy a car that way. I’ve always paid by personal check. Why would someone use cashier’s check to buy a car? What are the advantages?

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by vrex » Mon Apr 08, 2019 9:46 pm

35 years of car purchases with personal checks and no credit checks to the best of my recollection.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by student » Mon Apr 08, 2019 10:33 pm

wageoghe wrote:
Mon Apr 08, 2019 9:30 pm
This is at least the second time recently someone has posted about using a cashier’s check to buy a car. It had never occurred to me to buy a car that way. I’ve always paid by personal check. Why would someone use cashier’s check to buy a car? What are the advantages?
No advantages except that some dealers do not accept personal check.

ReadyOrNot
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by ReadyOrNot » Mon Apr 08, 2019 11:31 pm

It's really up to the dealer. They don't need your social security number or a credit check. But if they insist on it, are you ready to walk away?

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by HereToLearn » Mon Apr 08, 2019 11:43 pm

I did not unfreeze my credit and purchased car with a personal check. No issues. As others have said, some dealers require a bank check but I had never heard of running a credit check when paying for a car in full.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by pdavi21 » Mon Apr 08, 2019 11:49 pm

More importantly what are the advantages to not paying with one or several credit cards?

Are you people negotiating a discount for not using credit card?
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by HereToLearn » Mon Apr 08, 2019 11:50 pm

pdavi21 wrote:
Mon Apr 08, 2019 11:49 pm
More importantly what are the advantages to not paying with one or several credit cards?

Are you people negotiating a discount for not using credit card?
The dealer would not accept a CC for payment. He was fine with CC for deposit, but not for full payment.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by 123 » Mon Apr 08, 2019 11:56 pm

ReadyOrNot wrote:
Mon Apr 08, 2019 11:31 pm
It's really up to the dealer. They don't need your social security number or a credit check. But if they insist on it, are you ready to walk away?
+1 Every business has a right to set up their procedures as they see fit. Some (in fact many) of the procedures are there not because they do not trust the customer but because they do not trust their employees (generally). Having a credit check gives a good likelihood that there was a real person there for the purchase instead of some phantom dreamed up by an employee presenting a check that will bounce.

As ReadyOrNot has said you have to be prepared to walk away.
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by baconavocado » Tue Apr 09, 2019 12:12 am

wageoghe wrote:
Mon Apr 08, 2019 9:30 pm
This is at least the second time recently someone has posted about using a cashier’s check to buy a car. It had never occurred to me to buy a car that way. I’ve always paid by personal check. Why would someone use cashier’s check to buy a car? What are the advantages?
If you've always paid by personal check, you've probably always had to fill out a credit app and submit to a credit check?

The advantage of paying with a cashier's check *should* be that you would therefore not have to fill out a credit app, but that has not been my experience.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by whodidntante » Tue Apr 09, 2019 12:13 am

The dealer should not object to a wire transfer, and there have been zero cases of check fraud caused by a wire transfer. They can say you have to karaoke Lee Greenwood's entire catalog or they won't sell you the car, but it's not a very good business model.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by Afty » Tue Apr 09, 2019 12:31 am

I bought a new car 3 weeks ago. Paid by personal check and did not have to go through a credit check or apply for a loan.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by kilowattcorn » Tue Apr 09, 2019 1:12 am

This also happened to me when buying a Subaru from a dealer with a cashier's check. Perhaps they profit from running the credit checks because the information could be used to form a consumer profile, and this is one way to get that information.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by HIinvestor » Tue Apr 09, 2019 3:43 am

We bought a new car in December. The dealer allowed me to put $5000 on a 2.5% cashback Visa CCard and I paid the balance via personal check when I picked up the car. H and I both have credit frozen. We never completed any loan applications nor unfroze credit nor did wire transfer nor cashier’s check. No problems.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by whomever » Tue Apr 09, 2019 7:01 am

"If you've always paid by personal check, you've probably always had to fill out a credit app and submit to a credit check?"

I've always paid for cars with a normal personal check, and have never filled out any credit applications, as recently as last year. I dunno if the dealers were running credit checks or not.

FWIW, when we bought our first house in the 90's they took a normal personal check. I remember running out of room writing in the amount :-). Last year the escrow people wanted a cashier's check.

The bottom line is that the dealer can require payment in whatever form they like, and you can shop at any dealer you like. I think I'd walk and talk to some other dealers. If it turned out that it's a local thing and they all have the same requirements, OK, but it sounds unusual to me. Also FWIW, my experience has been that dealers are suddenly much more accommodating when I'm getting in my car to go to another dealer.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by 8foot7 » Tue Apr 09, 2019 8:44 am

I don't understand the angst about all of this. If the dealership won't take a cashier's check without a credit pull, then go buy from another dealership.

Leave your credit frozen and when they start hemming and hawing, just say, "look, do you want this money or not? Because Joe Blow Chevrolet 6 miles from here came within $50 of your offer and I'm ready to leave and go get my car from them." You should have been using the methods documented on this site many times and thus have many dealers' "best offers."

More probably, the act of physically getting in your car and driving away will almost certainly cause a change in policy with the first dealer. Better yet, simply call the next-best dealer while in the F&I office of the first dealer and accept the deal.

Some dealers may want to make sure the check clears before letting you drive off. That is fair.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by sunny_socal » Thu Apr 11, 2019 8:04 am

Some dealers might make you wait for the check to clear, a couple days. If you want to drive it home that day they may insist on a credit check. Up to you how long you're willing to wait.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by vested1 » Thu Apr 11, 2019 8:58 am

wageoghe wrote:
Mon Apr 08, 2019 9:30 pm
This is at least the second time recently someone has posted about using a cashier’s check to buy a car. It had never occurred to me to buy a car that way. I’ve always paid by personal check. Why would someone use cashier’s check to buy a car? What are the advantages?
We were told in order for the dealer to accept our personal check that they would have to run a credit check. Our credit was frozen and I refused to unlock it, so I went to our bank and returned with a cashier's check. If they had refused we would have gone somewhere else to spend our money. Our driver's licenses were sufficient identification.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by Smoke » Thu Apr 11, 2019 9:05 am

I have credit freezes on three of the major credit houses, 1 1/2 yrs ago I purchased a new car at the dealership with a personal check for the total price and drove it home that day. No credit check, at least I did not have to defrost anything.
Arguing for the sake of arguing is something I am not going to engage in.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by dm200 » Thu Apr 11, 2019 9:08 am

Get the check for the correct amount, go to the dealer/salesperson, slide it across the desk - and let them make the choice - give you back the check and you walk out the door - or sell you the car.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by Calico » Thu Apr 11, 2019 9:15 am

Thank you for posting this! This is good to know. I plan on going the same for a variety of reasons: so I am not tempted to buy more than I should, so I don't pay interest, and because I have the cash in an account and it's only going to hurt me when it comes time for my daughter to get college financial aid. I thought I would end up having to finance and then just pay the whole thing off. I didn't know "how" to buy a car with cash (or a cashier's check) to a dealership or used car place. And I too have all my credit frozen due to my information being stolen from the US Government of all places.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by scrabbler1 » Thu Apr 11, 2019 9:25 am

The last time I bought a (new) car, 12 years ago, I put the deposit on my CC and brought in a bank check for our agree-upon amount. The salesman gave me choice between that and having him tear up the deposit and bringing in a check for the full amount but I balked at that. No credit check.

He wanted me to get the bank check that day but it was a bank holiday, I reminded him, and the banks were closed LOL! I got the bank check the next day, returned to the dealer, and drove home in the new car.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by dm200 » Thu Apr 11, 2019 9:29 am

dm200 wrote:
Thu Apr 11, 2019 9:08 am
Get the check for the correct amount, go to the dealer/salesperson, slide it across the desk - and let them make the choice - give you back the check and you walk out the door - or sell you the car.
You could also try a personal check. In my experience (wearing several hats over the years), most dealerships accept personal checks for a vehicle purchase.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by michaeljc70 » Thu Apr 11, 2019 9:34 am

I paid with a personal check the last two times and refused a credit check. That is nonsense verifying you are a real person. Do you have a driver's license? That proves you are a real person. They want to get your credit and play games offering you financing to make more money.
Last edited by michaeljc70 on Thu Apr 11, 2019 9:35 am, edited 1 time in total.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by mptfan » Thu Apr 11, 2019 9:34 am

8foot7 wrote:
Tue Apr 09, 2019 8:44 am
I don't understand the angst about all of this. If the dealership won't take a cashier's check without a credit pull, then go buy from another dealership.
Unless all dealers for that particular make in the area require it, then it becomes an issue.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by 8foot7 » Thu Apr 11, 2019 9:40 am

mptfan wrote:
Thu Apr 11, 2019 9:34 am
8foot7 wrote:
Tue Apr 09, 2019 8:44 am
I don't understand the angst about all of this. If the dealership won't take a cashier's check without a credit pull, then go buy from another dealership.
Unless all dealers for that particular make in the area require it, then it becomes an issue.
Certainly true, yes. But very unlikely given how competitive the business is, and usually the next large city will have another plethora of dealerships and surely one of them won't. And you may even talk them into delivering it. Everything is negotiable.

I see no reason the credit report should come into play for a cash transaction with guaranteed funds. How reliable or unreliable I am at borrowing money has absolutely no relevance when I'm literally bringing all the money due in a transaction up front before I take my goods. I'll owe the dealer nothing and have borrowed nothing from the dealer. My creditworthiness is irrelevant. We consumers need to push back on this crap more often.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by dm200 » Thu Apr 11, 2019 9:44 am

michaeljc70 wrote:
Thu Apr 11, 2019 9:34 am
I paid with a personal check the last two times and refused a credit check. That is nonsense verifying you are a real person. Do you have a driver's license? That proves you are a real person. They want to get your credit and play games offering you financing to make more money.
Being in a related field, I "sort of" understand. As are so many businesses, car dealers have certain rules and regulations to follow concerning identity theft, money laundering, terrorist financing, etc. "Requiring" a credit check is probably the simplest way for the dealer to comply and document compliance - as well as some other possible uses of the credit report - and the dealer wants the easiest way with the least work.

Another possibility is that the dealership is under scrutiny by regulators because of past problems - and now is being required to be more "diligent".

Or, perhaps, the folks you spoke to are just idiots! :twisted:

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by michaeljc70 » Thu Apr 11, 2019 9:51 am

dm200 wrote:
Thu Apr 11, 2019 9:44 am
michaeljc70 wrote:
Thu Apr 11, 2019 9:34 am
I paid with a personal check the last two times and refused a credit check. That is nonsense verifying you are a real person. Do you have a driver's license? That proves you are a real person. They want to get your credit and play games offering you financing to make more money.
Being in a related field, I "sort of" understand. As are so many businesses, car dealers have certain rules and regulations to follow concerning identity theft, money laundering, terrorist financing, etc. "Requiring" a credit check is probably the simplest way for the dealer to comply and document compliance - as well as some other possible uses of the credit report - and the dealer wants the easiest way with the least work.

Another possibility is that the dealership is under scrutiny by regulators because of past problems - and now is being required to be more "diligent".

Or, perhaps, the folks you spoke to are just idiots! :twisted:
I'm not sure how a credit check verifies your identity. ID verifies your identity. If a credit check verified your identity, we wouldn't have billions of dollars in credit fraudulently taken out by other people every year. Identity theft typically involves credit checks.

The first time I paid with a personal check it was later on a Saturday and they said they couldn't verify the funds with the bank as it was closed. I said I drove 30 miles to come here and I'm not coming back and I'm not having a hit to my credit when not using credit. They took it. My guess is they use the same service other retailers use that scan the check and tell them if it should be accepted. It is obviously a higher dollar value.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by dm200 » Thu Apr 11, 2019 10:45 am

I'm not sure how a credit check verifies your identity. ID verifies your identity. If a credit check verified your identity, we wouldn't have billions of dollars in credit fraudulently taken out by other people every year. Identity theft typically involves credit checks.
The first time I paid with a personal check it was later on a Saturday and they said they couldn't verify the funds with the bank as it was closed. I said I drove 30 miles to come here and I'm not coming back and I'm not having a hit to my credit when not using credit. They took it. My guess is they use the same service other retailers use that scan the check and tell them if it should be accepted. It is obviously a higher dollar value.
I am in a job where these are all serious regulatory compliance issues. To government regulators, a documented credit check is a well accepted part of identity verification, along with some kind of government issued photo ID.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by mptfan » Thu Apr 11, 2019 2:19 pm

8foot7 wrote:
Thu Apr 11, 2019 9:40 am
I see no reason the credit report should come into play for a cash transaction with guaranteed funds. How reliable or unreliable I am at borrowing money has absolutely no relevance when I'm literally bringing all the money due in a transaction up front before I take my goods. I'll owe the dealer nothing and have borrowed nothing from the dealer. My creditworthiness is irrelevant. We consumers need to push back on this crap more often.
I agree. If I was writing a check to buy a car and the dealer required me to fill out a credit application so they could pull my credit, I would walk away.

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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by criticalmass » Thu Apr 11, 2019 3:58 pm

There are at least 3 reasons why a dealer wants your social security number and/or wants to do a credit check:

1.) So they can do a credit check to offer you their own/partner financing in attempt to increase profits, even though you don't need financing. Nobody wants this unless they are getting financing through dealer, manufacturer or dealer's partner bank.

2.) So they can do an OFAC check -- U.S. Treasury's Office of Foreign Asset Control's (OFAC). This is an anti-money laundering measure that car dealers do as a requirement or voluntarily. However, they don't really need an SSN to do this---it's just one (typical) way to search for you.

3.) Because the salesman and/or dealer is mis-informed about what is really needed. This may not be malice, they just are familiar with giving everyone a credit check anyway.

Legally they can't do a credit check on you unless you give them specific permission to do a credit check. Don't do this, freeze or no freeze, unless you need credit. The fine for violating this can be steep for them if someone presses it.

Your state may require an SSN to register the car, so if the dealer is handling the registration this may be needed. But the SSN may not actually be needed even if everyone thinks it is needed.

Bottom line is, they don't need to check your credit and you don't need to unfreeze your credit. I paid cash (check, not literally federal reserve notes) for my last car and the dealer tried # 1 and then # 2 with me. They seemed genuinely surprised when they ( eventually) successfully did the OFAC check without my SSN. Good news, we all learned that I am not a terrorist, thanks to OFAC. See # 3. No credit check, and they actually let me drive away with just $2500 paid with a credit card and a signed promissory note to pay the balance via check within 7 days. I paid the rest with a personal check, not a cashiers check, a few days later. I would have been happy to wait that long to pick up the car, but I got a really good deal (end of quarter, end of year, and they wanted the sale to be booked for that deal) so out I drove.

The previous car purchase needed a cashiers check so I was surprised that a personal check was okay. The last dealer assured me that they had legal options to ensure they would get paid, so it may depend on how friendly your state is to businesses whether or not they accept personal checks in lieu of cashiers check.

RetiredArtist
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by RetiredArtist » Thu Apr 11, 2019 4:48 pm

wageoghe wrote:
Mon Apr 08, 2019 9:30 pm
This is at least the second time recently someone has posted about using a cashier’s check to buy a car. It had never occurred to me to buy a car that way. I’ve always paid by personal check. Why would someone use cashier’s check to buy a car? What are the advantages?
My credit is frozen. For the first time in my long life, the closest Honda dealer would not accept a personal check. They barely accepted a cashier check- they made me wait a couple of hours, referring to money laundering laws. They were so rude; if I hadn't already donated my old car, I would have driven to next closest dealer.

orlandoman
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by orlandoman » Thu Apr 11, 2019 4:55 pm

Meet someone from the dealership at your bank & have the cashier's check issued while they are with you, eliminates the possibility of a fraudulent cashier's check.
"Don't Believe Everything You Think"

Smoke
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by Smoke » Thu Apr 11, 2019 5:52 pm

RetiredArtist wrote:
Thu Apr 11, 2019 4:48 pm
wageoghe wrote:
Mon Apr 08, 2019 9:30 pm
This is at least the second time recently someone has posted about using a cashier’s check to buy a car. It had never occurred to me to buy a car that way. I’ve always paid by personal check. Why would someone use cashier’s check to buy a car? What are the advantages?
My credit is frozen. For the first time in my long life, the closest Honda dealer would not accept a personal check. They barely accepted a cashier check- they made me wait a couple of hours, referring to money laundering laws. They were so rude; if I hadn't already donated my old car, I would have driven to next closest dealer.
Should have called the next closest dealer, told him what was going on and if they could send out someone to pick you up to buy their car with a check.
THAT would have sent a statement to the rude dealership especially if they showed up in front with their logo on it. :D
Arguing for the sake of arguing is something I am not going to engage in.

Dottie57
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by Dottie57 » Thu Apr 11, 2019 6:11 pm

wageoghe wrote:
Mon Apr 08, 2019 9:30 pm
This is at least the second time recently someone has posted about using a cashier’s check to buy a car. It had never occurred to me to buy a car that way. I’ve always paid by personal check. Why would someone use cashier’s check to buy a car? What are the advantages?
I’ve always paid with a personal check. 3 cars. They may well have called my bank to verify"

tomd37
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Location: Middle Tennessee

Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by tomd37 » Thu Apr 11, 2019 6:17 pm

I have purchased three new cars since 2001; one from a local Lexus dealer, another from an out of town Toyota dealer, and the third from an out of state Lexus dealer. #1 and #2 were paid from my out of state bank account with no credit check, and #3 was paid via a cashier check with no credit check. I guess it depends on the dealership, but we had no prior relationship with any of them.
Tom D.

whomever
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by whomever » Thu Apr 11, 2019 8:41 pm

" To government regulators, a documented credit check is a well accepted part of identity verification, along with some kind of government issued photo ID."

DM200, can you explain the rationale a little more?

I present you with an apparently valid driver's license saying that I'm Warren Buffet. You run a credit check that says W.B. has a good credit score. How does that help you verify who I am?

(I could see that it would catch ID's made out for nonexistent people. But surely the people making fake ID's can make them for real (but less famous than Buffet) people))

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dm200
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by dm200 » Fri Apr 12, 2019 9:56 am

whomever wrote:
Thu Apr 11, 2019 8:41 pm
" To government regulators, a documented credit check is a well accepted part of identity verification, along with some kind of government issued photo ID."
DM200, can you explain the rationale a little more?
I present you with an apparently valid driver's license saying that I'm Warren Buffet. You run a credit check that says W.B. has a good credit score. How does that help you verify who I am?
(I could see that it would catch ID's made out for nonexistent people. But surely the people making fake ID's can make them for real (but less famous than Buffet) people))
A credit report may have employment information and has date of birth. These can be compared to information from other sources. The actual "credit score" is probably not relevant. I believe it is the other information on the credit report that is important for such purposes. Many banks and credit unions include running a credit report as part of the new account opening process. In the highly government regulated bank and credit union field, the government regulators very much like it when the banks and credit unions they oversee run credit reports as part of the monitoring process.

I know this first hand.

RetiredArtist
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Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

Post by RetiredArtist » Fri Apr 12, 2019 11:36 am

Smoke wrote:
Thu Apr 11, 2019 5:52 pm
RetiredArtist wrote:
Thu Apr 11, 2019 4:48 pm
wageoghe wrote:
Mon Apr 08, 2019 9:30 pm
This is at least the second time recently someone has posted about using a cashier’s check to buy a car. It had never occurred to me to buy a car that way. I’ve always paid by personal check. Why would someone use cashier’s check to buy a car? What are the advantages?
My credit is frozen. For the first time in my long life, the closest Honda dealer would not accept a personal check. They barely accepted a cashier check- they made me wait a couple of hours, referring to money laundering laws. They were so rude; if I hadn't already donated my old car, I would have driven to next closest dealer.
Should have called the next closest dealer, told him what was going on and if they could send out someone to pick you up to buy their car with a check.
THAT would have sent a statement to the rude dealership especially if they showed up in front with their logo on it. :D
I wish I had thought of that!

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