Anyone ever wired money for purchase?

[Bobcatou]

I just had a nice talk with Shelby from Finance at Granger and I am tryiing to figure out the best way to pay for my truck.

My checking accounts are online with no branches near me, so getting a cashier's check really isn't that simple.

I was thinking of wiring the money to Granger. Has anyone done this? Is it pretty standard? Feels a little weird sending the money off before I see the vehicle in person and inspected.

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[SeanV313]

I just made a credit card payment via the link they provided me for the $1,000 deposit. Based on information on this forum, Reddit, Facebook, etc., Granger Ford is reputable and a great dealership to do business with..

 

[Bobcatou]

I agree...It's just ALOT of money

 

[redline]

i have never done it on a new vehicle , but i sold one of my companies cargo vans and the guy wired me money sight unseen, he used a shipping company and send him pictures of the van at the shipping company with transit receipt and i did not leave the van untill i confirmed i had the money in account... it went pretty smooth...

but your bank should be able to release funds on your command , ie when your at granger eye on truck....

 

[bdginmo]

I wonder if it isn't safer to finance through Granger and then payoff the loan early. I don't know if I'd be comfortable wiring money before I've inspected the vehicle.

 

[MattV]

I just had a nice talk with Shelby from Finance at Granger and I am tryiing to figure out the best way to pay for my truck.

My checking accounts are online with no branches near me, so getting a cashier's check really isn't that simple.

I was thinking of wiring the money to Granger. Has anyone done this? Is it pretty standard? Feels a little weird sending the money off before I see the vehicle in person and inspected.

I’ve been there they are real. I’d have no issues wiring them money. I’d just let let them know you are nervous about it and have them triple check the vehicle. From there you have insurance and a warranty.

 

[HammaMan]

I wouldn't do it until final inspection as they'd likely want you to "receive a check from corporate" nonsense.

If you have a mainstream bank the wires are fast. I can do it from my online portal, just triple check the account numbers. I bought a vehicle and they swore it takes a day and I informed them that my wires are instant and they were shocked that they had it before it took them the time to call accounting and see if the funds made it. If it's the same bank it's pretty much instant, if it's bank to bank it passes through the fed and they only take a minute to make the transfer at most. Checks can move just as fast. This was all done under 'check 21' passed when clinton was in the white house in 2003. Took forever to fully implement. The system closes from 7pm-9pm eastern, only open business days, but the "banking day" starts at 9pm sunday night closing Friday night at 7pm. Ignorant people will claim it has to "clear", but wires made within those times are instant and irreversible.

 

[GypsyDanger]

any deposit you can do via CC usually up to a certain amount(like 3k?). If you are paying cash you can request a cashiers check for what they quoted you or just use their financing and pay it off when ever you receive the account information. easy peezy.

 

[Rinn69]

Call a local bank and see if they can provide you with a cashiers check. There may be a small fee since you're not a member, but at least you'd have one. It's worth a phone call and beats carrying a big wad of cash around.

 

[Bobcatou]

I just made a credit card payment via the link they provided me for the $1,000 deposit. Based on information on this forum, Reddit, Facebook, etc., Granger Ford is reputable and a great dealership to do business with..

This isn't for the deposit. This is for the amount of the vehicle.

 

[magvallo]

Buying a vehicle without inspection is up to you. I’m sure dealer can send you photos. One word of caution regarding Wire fund transfers. You’re correct they are very standard way of moving funds but be very cautious wiring funds if you are receiving wire instructions via email. Verify instructions using a second method like telephone especially if you receive another communication asking you to change the sending account. Google business email compromise (BEC). Good luck!

 

[SomebodyInGNV]

... My checking accounts are online with no branches near me, so getting a cashier's check really isn't that simple. ...

We keep a low-balance account at a local credit union solely for the purpose of getting lobby services like this, notary services, etc. We use it rarely, but it works. We link our main account to the credit union account (not the other way around) to transfer money in and out if needed. It also provides a way to make the (extremely rare) cash deposit.

 

[Tnker]

When I bought my truck in TX, from PA, I wired 15k to the dealership and had no issues.

 

[Popplemer]

I would never pay for anything that depreciates that fast with cash but everyone is different. If you drive off the lot and get broad sided you've just lost 20% of your cash when the insurance company finally settles and writes you a check. I got 0% financing for 3 years and my cash is making just about 5%. Add in gap insurance for $6-700 bucks and you're covered for any situation that may arise. You can still pay off the loan early if you're itching to get it off your books.

While I dealt with Granger and they are legit I still don't like to wire money to anyone for any reason. There's simply no recourse if there's one number off in the bank account number and it gets transferred to some other lucky duck.

 

[Chappy133]

If you have concerns then I recommend going the credit card route because you have some protection through the bank for unauthorized activities.

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