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Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment. Suggesting labor

Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment. Suggesting laborious bureaucratic transactions over several days removes this common occurrence in that world, along with at many other gatherings of specialists - antiques, pedigree animals, whatever

macNchz 4y ago
I bought a somewhat rare car with cash several years ago. The seller had a buyer lined up across the country (and showed me evidence), but said that if I could bring him cash he’d sell it to me instead. I went to the bank, brought him an envelope of $100 bills, and it was mine.
- ithkuil 4y ago
  > I went to the bank [..] Would a certified check so the same trick?
  - kube-system 4y ago
    No, that's actually a popular scam at the moment. People think certified/cashiers checks or money orders are trustworthy. They can be faked.
    - ithkuil 4y ago
      Then perform the exchange in a bank, under a similar arrangement as the cash transaction of the scenario I was replying to. Cash can be faked too
      - kube-system 4y ago
        Agreed, transacting in a bank is the best way. Cash can be faked but it has good anticounterfeiting features, unlike checks.
  - macNchz 4y ago
    The seller can turn around and spend the cash instantly, anywhere, whereas the cashier’s check takes at least a day to clear, and in theory the bank could hold the funds for some period of time while it investigated the transaction for fraud. https://www.helpwithmybank.gov/help-topics/bank-accounts/cashiers-checks/cashiers-check-hold.html https://www.helpwithmybank.gov/help-topics/bank-accounts/cas...
Teandw 4y ago
"Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment." If I send a 10k payment to someone via bank transfer it's in their bank account in 10 seconds. Maybe you live in a country where there are much harsher restrictions?
- olivermarks 4y ago
  I live in the US and UK/Europe. The vast majority of older people at a swap meet or similar are not going to trust smartphone app transactions. Cash is king.
  - Teandw 4y ago
    They don't trust a smartphone app provided by their banking provider but they trust a random bloke they've never met with 10k in their back pocket. Right. Makes sense.
    - wbl 4y ago
      You don't need to trust the person when they have cash
      - tormeh 4y ago
        How do you know the cash isn't fake?
        lmz 4y ago
        UV lights and checking the safety features?
    - deleted 4y ago
      [deleted]
    - Zircom 4y ago
      Scenario one - Person A bank transfers Person B $10,000 for their classic car at the car show. Person A leaves, and then several days later the money is clawed back from Person B's account as it turns out it was sent from a stolen/compromised account. They now have no money and no car. Scenario two - Person A gives Person B $10,000 in cash for their classic car at the car show. Person A leaves, and Person B could give a shit about anything to do with Person A as soon as they are out of sight.

macNchz 4y ago

I bought a somewhat rare car with cash several years ago. The seller had a buyer lined up across the country (and showed me evidence), but said that if I could bring him cash he’d sell it to me instead. I went to the bank, brought him an envelope of $100 bills, and it was mine.

ithkuil 4y ago
> I went to the bank [..] Would a certified check so the same trick?
- kube-system 4y ago
  No, that's actually a popular scam at the moment. People think certified/cashiers checks or money orders are trustworthy. They can be faked.
  - ithkuil 4y ago
    Then perform the exchange in a bank, under a similar arrangement as the cash transaction of the scenario I was replying to. Cash can be faked too
    - kube-system 4y ago
      Agreed, transacting in a bank is the best way. Cash can be faked but it has good anticounterfeiting features, unlike checks.
- macNchz 4y ago
  The seller can turn around and spend the cash instantly, anywhere, whereas the cashier’s check takes at least a day to clear, and in theory the bank could hold the funds for some period of time while it investigated the transaction for fraud. https://www.helpwithmybank.gov/help-topics/bank-accounts/cashiers-checks/cashiers-check-hold.html https://www.helpwithmybank.gov/help-topics/bank-accounts/cas...

Teandw 4y ago

"Cash is king. If you are buying a non running classic car and have a tow vehicle and trailer ready you can drive a hard bargain in the moment." If I send a 10k payment to someone via bank transfer it's in their bank account in 10 seconds. Maybe you live in a country where there are much harsher restrictions?

olivermarks 4y ago
I live in the US and UK/Europe. The vast majority of older people at a swap meet or similar are not going to trust smartphone app transactions. Cash is king.
- Teandw 4y ago
  They don't trust a smartphone app provided by their banking provider but they trust a random bloke they've never met with 10k in their back pocket. Right. Makes sense.
  - wbl 4y ago
    You don't need to trust the person when they have cash
    - tormeh 4y ago
      How do you know the cash isn't fake?
      - lmz 4y ago
        UV lights and checking the safety features?
  - deleted 4y ago
    [deleted]
  - Zircom 4y ago
    Scenario one - Person A bank transfers Person B $10,000 for their classic car at the car show. Person A leaves, and then several days later the money is clawed back from Person B's account as it turns out it was sent from a stolen/compromised account. They now have no money and no car. Scenario two - Person A gives Person B $10,000 in cash for their classic car at the car show. Person A leaves, and Person B could give a shit about anything to do with Person A as soon as they are out of sight.