Question : How do people usually pay for used cars when not taking out a loan (cash, check, something else)?
Let's say a person is buying a mid-level used car for $8,000 or so. How would that generally be paid for when a loan isn't involved? Do people actually withdraw that much in cash from their bank and physically hand over $100 bills? Or, is it common to let cars go with only a personal check in hand? Or is there some other financial instrument usually involved?
- asked by Mike
All Answers:
Answer #1
Cash is pretty common. My friend bought a 2002Passat for $7000 and it was paid cash in $100bills.
- answered by stupid_guy
Answer #2
The larger the amount the more often its acheck.The dealer can call the bank & verify thecheck is good.
- answered by N
Answer #3
Cash, check or credit card.
- answered by STEWIE
Answer #4
Use a cashiers check or a money order. You shouldnever just walk around with $8,000 in yourpossession in 2010. Perhaps I am a littleparanoid, but too much can go wrong.
- answered by Stupid Flanders
Answer #5
They either pay cash or get certified check fromthe bank. Never accept personal checks
- answered by euroman71
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