Is there a "I'll buy your car with a capital one check" SCAM
Thread Starter
Registered User
Joined: Jul 2007
Posts: 115
Likes: 0
From: DFW
Is there a "I'll buy your car with a capital one check" SCAM
Ok...some guy called me and wants to buy my car with a capital one check...he told me the bank would be able to verify funds immediatly but my bank tells me it could take 4-6 days before they'd know for a fact that the loan was paid off...
this is the second time someone has offered me a capital one check for my car so I was worried it was a scam...either that or it's some sort of promotion that Capital One is doing to get car loans...anyone, have any experience with this?
I'm really not looking for a bunch of posts about what you think...I want to know facts from people who have dealt with something similar.
this is the second time someone has offered me a capital one check for my car so I was worried it was a scam...either that or it's some sort of promotion that Capital One is doing to get car loans...anyone, have any experience with this?
I'm really not looking for a bunch of posts about what you think...I want to know facts from people who have dealt with something similar.
I think it could possibly be a scam on the other side, maybe a check on a stolen credit card or something?
Who knows, unfortunately you have to ask these questions nowadays, whenever I try to sell something I always get more scammers than I do actual interested parties.
Who knows, unfortunately you have to ask these questions nowadays, whenever I try to sell something I always get more scammers than I do actual interested parties.
Registered User
Joined: Oct 2007
Posts: 1,695
Likes: 0
From: Boise, Idaho
Originally Posted by istan
I used a Captial One Check to purchase my Z from the dealership. Not exactly sure how it would work for a private sale. Call Capital One and find out 
Simple fix, dont give them the car, or the title until the loan has been paid off, and their check has cleared.
Registered User
Joined: Sep 2007
Posts: 53
Likes: 0
From: WI
from what i know if u do use a check from capitol one, it has to be from a certified dealer (honda, nissan, ford) and not a ma and pa dealer, haven't heard anything about it being able to use for private seller unless they have changed that
Trending Topics
Registered User
Joined: Oct 2007
Posts: 1,695
Likes: 0
From: Boise, Idaho
It just hit me. Why would they have a "capital one" check? Even if it was a credit line they just recieved just for the car, they typicly dont give you a "capital one" "wells fargo" "us bank" or whatever check... they give you X amount of money, you write the check, or get a cashiers check. The only other way would be a wire directly from the bank, where no check existed. I smell scam...
Originally Posted by WhiteNoiz
It just hit me. Why would they have a "capital one" check? Even if it was a credit line they just recieved just for the car, they typicly dont give you a "capital one" "wells fargo" "us bank" or whatever check... they give you X amount of money, you write the check, or get a cashiers check. The only other way would be a wire directly from the bank, where no check existed. I smell scam...
Registered User
Joined: Oct 2004
Posts: 1,349
Likes: 0
From: Ohio
Originally Posted by WhiteNoiz
It just hit me. Why would they have a "capital one" check? Even if it was a credit line they just recieved just for the car, they typicly dont give you a "capital one" "wells fargo" "us bank" or whatever check... they give you X amount of money, you write the check, or get a cashiers check. The only other way would be a wire directly from the bank, where no check existed. I smell scam...
Originally Posted by istan
Wat? I used my 'Capital One' Check when I bought my ZR. I'm not exactly sure what you are trying to say.
They had a seperate program for buying from private parties but you had to have a VIN number and basically have the deal done. And it wasnt a blank check it was a specified amount.
Verdict- either the guy has a check and doesnt realize how the program works or he is full of ****.
Registered User
Joined: Oct 2007
Posts: 1,695
Likes: 0
From: Boise, Idaho
Originally Posted by istan
Wat? I used my 'Capital One' Check when I bought my ZR. I'm not exactly sure what you are trying to say.
Last edited by WhiteNoiz; Mar 11, 2008 at 12:14 PM.
Registered User
Joined: Nov 2007
Posts: 345
Likes: 0
From: Dallas, Texas
Well, what I know is if you get a check thats Capitol One and then you go and deposit it. It takes sometimes up to 3-4 weeks to CLEAR. I had went to deposit my check one day thinking it cleared when I got no notification 3-4 days after... Then 3 weeks later it finally showed up, it bounced and subtracted the amount from my balance then also subtracted a 10$ fee. It's ok though, made my boss pay me it all back plus the charged fee 
Registered User
Joined: Oct 2007
Posts: 1,695
Likes: 0
From: Boise, Idaho
So I guess the risk, would be trusting he writes down an amount within his limit. Just make sure it clears before you let him have anything, BUT from what people on here who have done this before are saying, it cannot be to a private party so he cant do it anyway...
Last edited by WhiteNoiz; Mar 11, 2008 at 12:55 PM.
Originally Posted by WhiteNoiz
BUT from what people on here who have done this before are saying, it cannot be to a private party so he cant do it anyway...
<TABLE class=qa_table cellSpacing=0 cellPadding=0 border=0><TBODY><TR><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR><TD class=qa_number>7. </TD><TD class=qa_question>What can I buy with my Capital One Auto Finance<SUP>®</SUP> Blank Check<SUP>®</SUP>? </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=answer_text>You may use your Blank Check<SUP>®</SUP> to purchase a new or used car, truck, sport utility vehicle, minivan, or motorcycle from:
</TD></TR></TBODY></TABLE>
- A franchised dealership
- An approved non-franchised dealership
- A private party
</TD></TR></TBODY></TABLE>
I just don't know if there are different procedures or not.