My daughter is selling her car to an auto dealer referenced through KBB, Edmunds, or similar. She told me he said “cash”. Questions:
1. In my business lingo, checks and cash are synonymous (versus, “currency”). If they pay by check, should she be skeptical and demand cash? (she told me she read reviews and didn’t see evidence of fraud, also subject to the smell test when she gets there). Do places like that keep piles of cash around for that reason? Collecting on a bad check would be painful. Not sure how risky that is given the circumstances but some convenience due to item #2 below. 7000 reviews. Texas Auto Value (I haven’t looked at it)
2. She doesn’t have a local bank. Any ideas how to convert the currency to something safer? I know some places sell money orders. Could she buy one and then electronically deposit the check? I wondered about depositing it in a friends account in exchange for a check, but that isn’t risk free either. Alternatively, she will be driving 12 hours on Saturday and they can carry it with them.
I try to stay out of their business and limit my advice to answering questions or making sure they are educated to make their own. I feel pretty good like they’re versed on their options.There are lots of other issues and details on the transaction that I’m completely comfortable with, but no experience with these two issues. TIA.