Selling truck - when is it safe to let buyer take it?

[danielhv]

Selling my truck, financed through capital one auto...

Buyer is financing through Arvest bank in Hot springs, AR. I've spoken with the lady there several times... he has cash + his loan. I overnighted a cashiers check to the bank for the difference last wednesday, she took it and overnighted a check to satisfy my loan, but it hasnt updated yet on their site (I assume because of the holidays).

The buyer called wanting to know when he could pickup the truck... Is the banks word that a payoff check was overnighted on such and such date good enough to cancel my insurance and let him have the truck? Or should I wait until I see my account on their website shows to be paid off?

[03mustangdude]

dont wait till website updated call your loan csr department ask them if they received it.

[46Tbird]

The truck doesn't move until the money is in your account.

[mstng86]

The truck doesn't move until the money is in your account.

This.


AND TAKE THE PLATES OFF!!

[Ratt]

This.


AND TAKE THE PLATES OFF!!

This, too.

[LS1Goat]

FYI: Some banks will hold any check, cashier or otherwise for a period of up to 10 days. It has to be cash or wire transfer for a loan to be processed and completed the same day. I wouldn't release the truck or remove it from your policy until I had verification that the loan was satisfied.

[danielhv]

K, thats what I figured, just wanted more opinions. Thanks!!

[Cooter]

wire transfer

[Venix]

When you see the $$ then he gets the keys. Not before.