I work in a banks check deposit fraud, the issue with cashiers checks is many small banks and credit union don’t have a verification system. Unfortunately by law you can’t put a hold on government or cashiers checks, so on the bank side our hands are fairly tied. Additionally, although branch staff has SOME training in spotting obvious fakes most deposits take about 4-24 hours from deposit to human review
I worked in retail banking for 25 years the fake checks and drafts are so good we can't determine if they are fake- they will even get a real one, and then copy it use for a transaction- we could call the issuer and confirm that it was good and then they return it to the issuer for cancellation
You can't carfax or comp a built motor, not saying anything about the stolen status, but real built motor (rods, pistons, new timing parts, bearings, seals, etc) is really expensive and only a few places in the country do it reliably.
Anything aftermarket in a car decreases it's value unless it is a maintenance or reliability fix. It's just how things are. If you wanna customize the car to YOUR taste while replacing garenteed genuine parts for something else, expect for other people to pay less for it than stock.
Something my mother taught me as a kid lmao, don’t modify cars expecting to get MORE money out of them. They have to fit a specific parties preferences and usually those parties want to do the work themselves. Very rarely do you build a car and make money on it
Would you say accompanying the buyer to their branch and having them withdraw a check in front of you Is a good alternative or does it still pose a risk?
That m3 was built with nothing but top quality parts by a competent shop. That car was originally listed for $75k. Considering it's a comp, with an individual color, and all work documented on TH-cam. It's worth a pretty penny. Wish I got it for 35k. Lol
When Hank goes to car shows w/ his vette, does he pop a sign at the front listing all the options and how it's somehow 1 of 1? There seem to be a ton of 1 of 1 Corvettes out there.
Rule of thumb is 10 cents on the dollar for return on mods on the car. 20-25 cents if you sell the parts separately. So that would maybe add $6k in value, IF the motor didn't get cooked when the thieves were joyriding.
@@clearwaterms Yes. All. There's some variation as some cars you might get 20c and other cars it's a negative return, but in 20yrs of doing this that's about what we see. Even good preventative maintenance of common issues doesn't always ROI. Paid $3k to do rod bearings on an M3? Buyer will still try to pay the same as the other one for sale that hasn't had them done.
We had phone number to dial and check Official check but that would just state if check is available for deposit or was used, there is probably some loophole that they use to trick it…
FWIW this episode was much better. I listen on Spotify and this episode "felt" like the old ones. We just need a Carvana stock price/hate update and a proper Ayoooo! from Tyler once in a while and all will be right with the world again.
id trust a bone stock engine Riced out wide body Honda civic built in 2001 before i ever trust the words Modified BMW for sale XD thats a 15k ricer dream car not a 40-60k top of the line race car. that dude needs to learn how ricer math really work
As a car dealer Doug you should know it doesn't matter what you paid for the car. I'm sure should someone come to you and say I know what you paid for the car your going to tell them to pound sand.
Fair point, but when a retail customer pays half what they’re asking, what they paid is still a data point. Especially when what they paid is indicative of market value, and what they are asking isn’t. The other counterpoint is that what a dealer paid doesn’t matter because that’s “wholesale” value, and in theory a dealer adds value to the equation, whereas when a retail buyer pays retail for a car and attempts to flip it without adding value, what they paid is definitely relevant.
@@Sean-b1t Servicing, detailing, presentation (sometimes private sellers have no idea how to rep their car), ability to take trades, offer financing, etc.
@@switchcarsboth are flippers, one just has overhead and the other doesn’t. Dealers don’t add value, adding a couple BS trinkets or detailing is the same thing a private seller can do.
I work in a banks check deposit fraud, the issue with cashiers checks is many small banks and credit union don’t have a verification system. Unfortunately by law you can’t put a hold on government or cashiers checks, so on the bank side our hands are fairly tied. Additionally, although branch staff has SOME training in spotting obvious fakes most deposits take about 4-24 hours from deposit to human review
Those f80s do make good power
I worked in retail banking for 25 years the fake checks and drafts are so good we can't determine if they are fake- they will even get a real one, and then copy it use for a transaction- we could call the issuer and confirm that it was good and then they return it to the issuer for cancellation
Nuts.
You can't carfax or comp a built motor, not saying anything about the stolen status, but real built motor (rods, pistons, new timing parts, bearings, seals, etc) is really expensive and only a few places in the country do it reliably.
Expensive, yes. Adds to resale value? Doubtful, especially with the dubious claims surrounding the engine’s hp and current health. Stock sells.
Anything aftermarket in a car decreases it's value unless it is a maintenance or reliability fix. It's just how things are. If you wanna customize the car to YOUR taste while replacing garenteed genuine parts for something else, expect for other people to pay less for it than stock.
Unless it's pourpose built for racing, it wont ever add value. Always has been, likely always will be.
Something my mother taught me as a kid lmao, don’t modify cars expecting to get MORE money out of them. They have to fit a specific parties preferences and usually those parties want to do the work themselves. Very rarely do you build a car and make money on it
Not to mention modified cars present modified problems that usually takes the people who built it to know what’s going on lmao
thanks for the constant uploads loving the videos guys. keep it up!
Would you say accompanying the buyer to their branch and having them withdraw a check in front of you Is a good alternative or does it still pose a risk?
I think this is the BEST way, short of a wire transfer.
That m3 was built with nothing but top quality parts by a competent shop. That car was originally listed for $75k. Considering it's a comp, with an individual color, and all work documented on TH-cam. It's worth a pretty penny. Wish I got it for 35k. Lol
Liked the Hank segment!
Hank's outfit is incomplete, it needs Jorts, new balance sneakers, and Duralast brake pads that don't dust the ZR1/Z06/etc. version of his car.
When Hank goes to car shows w/ his vette, does he pop a sign at the front listing all the options and how it's somehow 1 of 1? There seem to be a ton of 1 of 1 Corvettes out there.
that car was build with over 60k in mods alone its honestly not that overpriced if you see the work kies did.
Rule of thumb is 10 cents on the dollar for return on mods on the car. 20-25 cents if you sell the parts separately. So that would maybe add $6k in value, IF the motor didn't get cooked when the thieves were joyriding.
@@switchcars curious, is that rule of thumb 10 cents on the dollar for part prices or parts & estimated average labor?
@@clearwaterms Yes. All. There's some variation as some cars you might get 20c and other cars it's a negative return, but in 20yrs of doing this that's about what we see. Even good preventative maintenance of common issues doesn't always ROI. Paid $3k to do rod bearings on an M3? Buyer will still try to pay the same as the other one for sale that hasn't had them done.
Wait for it .... perfect commercial timing
well thats a title to wake up to mate
thanks mate
Man… I don’t know what I would do if I got a fake check like that 😅 I would have been just as out of luck as this guy
Scammer got scammed on his BMW!
I've really been enjoying these videos. From a fellow buckeye, keep it up!
Gin and tonic in the glass? I approve!
We had phone number to dial and check Official check but that would just state if check is available for deposit or was used, there is probably some loophole that they use to trick it…
FWIW this episode was much better. I listen on Spotify and this episode "felt" like the old ones. We just need a Carvana stock price/hate update and a proper Ayoooo! from Tyler once in a while and all will be right with the world again.
Thanks for the feedback! We're still finding our groove. I think next week's will be even fantasticker.
I have stock lights still on my f30. That's about it 😅
id trust a bone stock engine Riced out wide body Honda civic built in 2001 before i ever trust the words Modified BMW for sale XD thats a 15k ricer dream car not a 40-60k top of the line race car. that dude needs to learn how ricer math really work
A 1k hp car is not a 15k ricer dream car
@@CalebsCars it is when the cars been stolen once and the engine F-ed and the dude claims he can remove engine internals to make the price cheaper.
@ yea in that particular case if the engine is blown
As a car dealer Doug you should know it doesn't matter what you paid for the car. I'm sure should someone come to you and say I know what you paid for the car your going to tell them to pound sand.
Fair point, but when a retail customer pays half what they’re asking, what they paid is still a data point. Especially when what they paid is indicative of market value, and what they are asking isn’t.
The other counterpoint is that what a dealer paid doesn’t matter because that’s “wholesale” value, and in theory a dealer adds value to the equation, whereas when a retail buyer pays retail for a car and attempts to flip it without adding value, what they paid is definitely relevant.
How in the world does a dealer “add value”? The difference between wholesale and retail is a just a scheme for the cartel of dealerships to profit
@@Sean-b1t Servicing, detailing, presentation (sometimes private sellers have no idea how to rep their car), ability to take trades, offer financing, etc.
@@switchcarsboth are flippers, one just has overhead and the other doesn’t. Dealers don’t add value, adding a couple BS trinkets or detailing is the same thing a private seller can do.
@@Justanon70some do, some don’t. You’re firmly entrenched in your position so I’ll just let you win
I’m in this group, it used to be a great group. Used to be.
It all went downhill when I got banned. :)
@@switchcars the WCC overlords are insane. I got banned for asking why a seller didn’t disclose a rebuilt title 🤣
Bitcoin is at 104k 😅😅