silly question: wiring down payment to dealer for my BW

[wonk1132]

I'm coming into closing on my new 2024 4BW. I need to move a sizable down to them via wire (the dealer is about 1000 miles away).

The sales rep gave me the destination wire account information. But paranoid me is now concerned...

(1) is it standard for a dealer to have a wire account such as this
(2) how can I verify that these funds are going indeed to the purchase of the car and not someones personal account.

I'm sure that wiring a down payment is something that is rather standard, I just have never done it. Given the large amount that is getting moved, I really want to ensure I'm not getting long con scammed!

 

[RS49]

I send wires quite often. Never had one go sideways. That said, you can always call their bank to verify you're dealing with a known quantity. The wire transfer (if it's going to a dealer) should also be in the dealers name in some fashion. You should also verify over the phone with the dealer that the routing information is correct in the rare possibility the email you got is a fishing scam. If you're concerned about the sales guy ask to talk to somebody in finance to verify the routing info.

And as always, trust your Spidey-sense.

Is it an actual Cadillac dealer? If not, I usually crawl down the Google rabbit hole on anyone who isn't a major brand franchisee. The other thing I do if the dealer is a question mark, I'll ask for a close up picture of an odd part on the car just to make sure they actually have the car and they're not just selling me somebody else's pictures.

I've also done this before - If you're really, really worried about it set up the wire transfer before hand, fly there to look at/collect the car and if everything checks out call your bank and give them the okay to send it. If you get them sent before noon wires usually post the same day so you'll have to hang around for a few hours but it's better safe than sorry.

 

[wonk1132]

all good points; will be doing

 

[MookdocOE]

all good points; will be doing

Since your dealing with a "Dealer" in GM's umbrella the chances of this going south are almost nonexistent!

 

[rdollie]

There is a BIG scam going on right now where you think you're dealing with the actual salesman but you're not and they end up taking all your credit info AND your deposit and they end up buying a car for themselves at a different dealership (just learned about thus yesterday.) The scammers actually steal pics from the real salesmans FB page and setup a dummy to fool you.


I'd look up the dealership phone number online, call them and ask for the Fianance Manager. That person can verify if there's a deal in progress or if you're getting scammed.

 

[Professor Speed]

+1 on @RS49's suggestion. Or just issue a money order or verified check.

When I bought mine, I just brought a personal check with me which was then verified at the dealer.

 

[Matt27]

+1 on @RS49's suggestion. Or just issue a money order or verified check.

When I bought mine, I just brought a personal check with me which was then verified at the dealer.

Seconding this. Get a certified check from your bank and fly with it unless you're 100% certain on the wires.

 

[Barstoolman1127]

 

[shbox]

Seconding this. Get a certified check from your bank and fly with it unless you're 100% certain on the wires.

My out of town dealer had me get a certified check and send them a picture of it before I arrived to get my car. No problems.

 

[RS49]

I quit using or accepting certified/cashiers checks because like regular checks payment can be stopped on them. If you're going to do that make sure whoever you plan to give it to is willing to accept it!

 

[Ryan]

I wired the whole purchase price of the car. Just double check by calling the dealer directly.

 

[quikag]

Always google the main number of the dealer and verbally confirm wire instructions with a dealer principal before wiring money.

 

[AtrociKitty]

The last four cars I bought/sold were all done by wire, and all transacted remotely. As a seller, I trust receiving a wire over any other payment method.

When I send a wire, I always confirm the information with the seller or dealer, then take that with me to the local branch. I have them run through sending the wire, then confirm the seller received it (wires are generally fast). When receiving a wire, I don't even go to the bank. I just check my balance or give the bank a quick call to confirm it's in.

Wires are quick and painless so long as you double-check where you're sending it to, and very secure.

 

[wonk1132]

thanks all for the help here--I'm going to call the main line and talk to the finance manager to ensure the account # I was given is legit, then walk down to the bank and wire it.

 

[quikag]

thanks all for the help here--I'm going to call the main line and talk to the finance manager to ensure the account # I was given is legit, then walk down to the bank and wire it.

That's the way to do it. With that method, you'll have zero issues.

 

[FLYARMY]

My dealer didn't even take any deposit. When the car arrived, I went down to check it out and handed him a bank check for the balance due. Did not pay over sticker , either.

 

[jbawden]

I guess I wouldn't send anything without seeing the car first. If you decline the vehicle, what are your options for getting the money back?

 

[Andi]

CC for deposit. You can wire the remainder when you get the car.