Buying A 2Nd Hand Car Off A Farang. Named Cashiers Check/Bank Draft Good?

[WhiteCadillac]

We are Buying a 2nd hand car off a Farang. Is a named cashiers check/bank draft good tool to pay for the car? Farang doesnt have an account in my bank so can he cash it without any problems? We dont wanna make any risk with carrying a bunch of cash.

[SweatiePie]

Up to the "farang" and you. Bouncing cheques is a criminal offence here, not a civil offence as in most Western countries.

[WhiteCadillac]

That wasn't very helpful. I guess someone is having a bad day.

Anyone else have any knowledge on this?

[katabeachbum]

That wasn't very helpful. I guess someone is having a bad day.

Anyone else have any knowledge on this?

cashier check within same province or bank draft if in different provinces

the seller can cash the check in your bank without having an account, as long as check is NOT crossed with double lines or stamped "AC only". Make sure his name is spelled identical to his passport.

Hand over check after DLT has inspected vehicles ID and accepted transfer fee.

[Spoonman]

If the seller is going to cash the cheque at your bank why not just get him to go to the bank with you and you withdraw cash and hand it to him ??

[katabeachbum]

If the seller is going to cash the cheque at your bank why not just get him to go to the bank with you and you withdraw cash and hand it to him ??

golden rule in LOS, always have proof of payment, no large cash deals

cashier check is excellent proof of payment

[Spoonman]

If the seller is going to cash the cheque at your bank why not just get him to go to the bank with you and you withdraw cash and hand it to him ??

golden rule in LOS, always have proof of payment, no large cash deals

cashier check is excellent proof of payment

proof of payment for who and why is it so important when selling a car, the seller gets a bundle of cash and the buyer gets the book in their name ??

[SweatiePie]

That wasn't very helpful. I guess someone is having a bad day.

Anyone else have any knowledge on this?

Someone certainly is.

The point on bouncing cheques being a criminal offence in Thailand and not a civil offence is that if the cheque bounces (quite possible for a number of reasons) then the police can and will take action, whereas in countries where it is a civil offence a civil suit has to be filed - not the same thing at all, and one reason why cheques can be more acceptable here.

Its "up to the farang and you", beause there are advantages and disadvantages, particularly for him. You have the car and car docs, he has a piece of paper; if its not crossed he can cash it as kbb says, but he then ends up "carrying a bunch of cash", not you; if he loses an uncrossed cheque its still relatively easy for someone else to cash it, whereas if its a crossed cheque it can take a few days (officially up to a month) for the cheque to clear and him to have his money; the cheque can bounce. It really is up to the two of you to agree on what is acceptable for both of you.

Sorry if that's all a bit beyond you.

[katabeachbum]

That wasn't very helpful. I guess someone is having a bad day.

Anyone else have any knowledge on this?

Someone certainly is.

The point on bouncing cheques being a criminal offence in Thailand and not a civil offence is that if the cheque bounces (quite possible for a number of reasons) then the police can and will take action, whereas in countries where it is a civil offence a civil suit has to be filed - not the same thing at all, and one reason why cheques can be more acceptable here.

Its "up to the farang and you", beause there are advantages and disadvantages, particularly for him. You have the car and car docs, he has a piece of paper; if its not crossed he can cash it as kbb says, but he then ends up "carrying a bunch of cash", not you; if he loses an uncrossed cheque its still relatively easy for someone else to cash it, whereas if its a crossed cheque it can take a few days (officially up to a month) for the cheque to clear and him to have his money; the cheque can bounce. It really is up to the two of you to agree on what is acceptable for both of you.

Sorry if that's all a bit beyond you.

I have yet to see a cashier check bounce in LOS. Use them a lot on property sales/purchases.

private checks is another story, criminal to issue a check without sufficient funds in LOS

The reciever of a cashier check has the choise of

crossing it, making sure it can only be payed to his account

cashing it in issuing bank when not crossed.

proof of payment is always important in LOS. If the car seller can provide 3 witnesses he has not recieved payment even though car has been delivered and transfered, buyer needs to provide proof of payment

[SweatiePie]

..............I have yet to see a cashier check bounce in LOS. .........

With all due respect, that hardly means that it does not happen - how many assassinations, murders, drive-by shootings, bank robberies, rapes, etc, have you seen here? Does that mean that there aren't any?

While cashiers cheques are guaranteed by the issuing bank there can be a number of reasons why they may not be honoured - the first and the most common is that they are forgeries. This does happen, and the purchased item (for example a car) is then immediately re-sold and legal ownership transferred, leaving the original owner facing an expensive and protracted court case to regain his property or his money.

Accepting a cashier's cheque from someone you don't know is hardly a good idea, in any country.

Encashment of a cashiers cheque is not technically proof of payment for a specific purchase, it is simply proof that a payment for a certain amount has been made for an unspecified reason. Proof of payment is usually in the form of a receipt (witnessed if necessary). Most car dealers in Thailand will insist on this as a matter of routine.

.........If the car seller can provide 3 witnesses he has not recieved payment even though car has been delivered and transfered, buyer needs to provide proof of payment .........

Where did you get that from? Its impossible for someone to "witness" something that they didn't see happen, so all the car seller's 3 witnesses could witness was that they did not witness anything. Meaningless. You are 100% correct, though, that the buyer needs to be able to provide proof of payment, although this would usually be as the result of a civil (private) prosecution.

[katabeachbum]

..............I have yet to see a cashier check bounce in LOS. .........

With all due respect, that hardly means that it does not happen - how many assassinations, murders, drive-by shootings, bank robberies, rapes, etc, have you seen here? Does that mean that there aren't any?

While cashiers cheques are guaranteed by the issuing bank there can be a number of reasons why they may not be honoured - the first and the most common is that they are forgeries. This does happen, and the purchased item (for example a car) is then immediately re-sold and legal ownership transferred, leaving the original owner facing an expensive and protracted court case to regain his property or his money.

Accepting a cashier's cheque from someone you don't know is hardly a good idea, in any country.

Encashment of a cashiers cheque is not technically proof of payment for a specific purchase, it is simply proof that a payment for a certain amount has been made for an unspecified reason. Proof of payment is usually in the form of a receipt (witnessed if necessary). Most car dealers in Thailand will insist on this as a matter of routine.

.........If the car seller can provide 3 witnesses he has not recieved payment even though car has been delivered and transfered, buyer needs to provide proof of payment .........

Where did you get that from? Its impossible for someone to "witness" something that they didn't see happen, so all the car seller's 3 witnesses could witness was that they did not witness anything. Meaningless. You are 100% correct, though, that the buyer needs to be able to provide proof of payment, although this would usually be as the result of a civil (private) prosecution.

reciving a cashier check on large amount, most people would call issuing bank to check if its authentic/not fake

thai court preferes cashier checks as proof of payment over any reciept. most easy way to obtain this proof of payment is a copy of cashier check signed by reciever. no need to contact issuing bank to find recivers signature on cashier check in files

[scalper]

"The point on bouncing cheques being a criminal offence in Thailand and not a civil offence is that if the cheque bounces (quite possible for a number of reasons) then the police can and will take action"

Maybe on the paper but in the fact that's not really true .

2 years ago my fortuner has been stolen after month of phones call to my thai insurance i get a cheque which bounced!!!

then i went to bangkok and get some cash ( after spending 5 hours in front of the GM office ) and 5 checks.

each of them bounced back!

then i went to police and they finaly did nothing.

It took me 1 year to get fully reimbursed and i had to fly to bangkok 3 times from phuket to get some cash.

NOw i am insured with only european well known insurance

the thai company was a big one ( having problem with the crisis that what i was told)

[MoonRiverOasis]

NOw i am insured with only european well known insurance

the thai company was a big one ( having problem with the crisis that what i was told)

OK, so who was it? We'd all like to know if the insurance company we deal with is a bad payer!