So this practice seems very odd to me which is why i pose the question.
I’m looking at a vehicle (about $20k). When i asked what i needed to do in order to make the car off limits for potential buyers until my auto-draft check arrived, here is the dealer’s response…
" What we would do is ask you to write a check for the full amount you plan on financing. We will not cash the check, but when you get the auto-draft check from your bank, come back and we will swap checks. Don’t worry, every dealer does this."
Now as i heard that, alarm bells started ringing right away.
Keep in mind, this is a used car dealership only, so they aren’t affiliated with any major manufacturer. Also, they are not a member of the Better Business Bureau.
Has anyone ever heard of something like this before?
Thanks for responses,
P.S. This is in suburbs of Atlanta GA.