How long does it take for a cashier's check to clear?
Well...looks like I'm in a similar situation. We're supposed to pick up our car tomorrow but the finance person is saying our PenFed check can't be a draft and that they'll have to wait 10 days for it to clear. In the meantime they're going to try to get us to finance with them. If they match the rate no problem, but if they don't I'm thinking I'll just have to wait a bit. There is no way it should take 10 business days to clear though. If they deposit it tomorrow I'd think they'd have their money in 1-2 business days. Ugh...
I'm really disappointed and kinda pissed that "Brecht Mini" is telling me I will have to wait 2 weeks after the car arrives for them to give me the my MINI because my physical address is outside the State and they need to wait for the check to clear.
I have a cashier's check, it's supposed to be as effective as a note of the bank, it guarantees funds for gods sake!
I'm selling my current car in a few days and can't wait 2 extra weeks to get my MINI because I will not have a car to drive, and my commute is a very long one!
I really don't know what to do, PENFED wont do wire transfers, so I'll try to talk to the dealer again when the car gets here. Penfed sent me this official check to replace the pre-approved draft, so I'm hoping they'll come to there senses and help me out knowing that I'm spending over 30K on this car and they are getting all their money at once!
I have a cashier's check, it's supposed to be as effective as a note of the bank, it guarantees funds for gods sake!

I'm selling my current car in a few days and can't wait 2 extra weeks to get my MINI because I will not have a car to drive, and my commute is a very long one!
I really don't know what to do, PENFED wont do wire transfers, so I'll try to talk to the dealer again when the car gets here. Penfed sent me this official check to replace the pre-approved draft, so I'm hoping they'll come to there senses and help me out knowing that I'm spending over 30K on this car and they are getting all their money at once!

Hope everything works out!
There are so many scams with funds out there that it isn't surprising the dealership is a bit leary. Having said that, there are probably some ways to cut down on the time. I agree with the others about approaching the GM about the issue. Living in Mexico (if you have disclosed that) may be the sticking point for them at this stage. Good luck. I haven't decided whether to go with the credit union or mini financing. depends on the rate. My baby should be landing next week on the Sierra Nevada and the tension is over the moon in my house waiting!
Ok this just gets better every day.
Penfed didn't send the cashiers check as they promise on 6/10/08, I called them on Friday last week to see the status of that and they told me they had made a mistake and the check was not submitted. They apollogize and inform me they were going to FEDEX it directly to the Dealers at no cost first thing the fallowing day "Saturday 6/14 and it will be arriving on Monday "6/16".
Monday came and .. Nothing.... So I call PENFED and the girl says, Oh it was submitted today "Monday"......
Anyways, I'll fast forward to today:
FEDEX tracking shows delivery as of Today at 10am.
At 12pm I call my MA. I get voice mail.. I leave a voice message, call again at 3pm, same thing.. Now I know something is up.. I Call the sales department and ask if my MA is in today and find out she is not.
This is nutz, They can't start cashing or clearance process of the check with out my signature on it, I need to sign the damn thing, I ask who has my check, so they transfer me to the "MOTORING" Manager..but what do you think? I get voice mail..
I leave a message, then I call sales back and ask if he's around and they say "he's somewhere around here"..
It's 5:30pm and no call back from him.
This is total BS..
Then I called Irvine MINI, asked for the Sales Manager, explain the situation (Mexico residence) (Cashiers check) to him and how they are holding the check for god knows how long.
Then he says: I wouldn't be holding a cashiers check if the car is here and I have a client waiting for it, with a call to the bank we can make sure the check is good, if it was a personal check it would be different but a cashier check is good as cash.
With that said, I'm going to Brecht Mini today to talk to the GM..
Everyday that goes by gets me closer to just cancel my order and take my business to another dealer where their primary concern is the satisfaction of the customer, like their "about us" web page says...
Penfed didn't send the cashiers check as they promise on 6/10/08, I called them on Friday last week to see the status of that and they told me they had made a mistake and the check was not submitted. They apollogize and inform me they were going to FEDEX it directly to the Dealers at no cost first thing the fallowing day "Saturday 6/14 and it will be arriving on Monday "6/16".
Monday came and .. Nothing.... So I call PENFED and the girl says, Oh it was submitted today "Monday"......
Anyways, I'll fast forward to today:
FEDEX tracking shows delivery as of Today at 10am.
At 12pm I call my MA. I get voice mail.. I leave a voice message, call again at 3pm, same thing.. Now I know something is up.. I Call the sales department and ask if my MA is in today and find out she is not.
This is nutz, They can't start cashing or clearance process of the check with out my signature on it, I need to sign the damn thing, I ask who has my check, so they transfer me to the "MOTORING" Manager..but what do you think? I get voice mail..
I leave a message, then I call sales back and ask if he's around and they say "he's somewhere around here"..
It's 5:30pm and no call back from him.
This is total BS..
Then I called Irvine MINI, asked for the Sales Manager, explain the situation (Mexico residence) (Cashiers check) to him and how they are holding the check for god knows how long.
Then he says: I wouldn't be holding a cashiers check if the car is here and I have a client waiting for it, with a call to the bank we can make sure the check is good, if it was a personal check it would be different but a cashier check is good as cash.
With that said, I'm going to Brecht Mini today to talk to the GM..
Everyday that goes by gets me closer to just cancel my order and take my business to another dealer where their primary concern is the satisfaction of the customer, like their "about us" web page says...
Update!
I went to the dealer yesterday and talked to the Sales Manager...
He did the right thing, he basically apologize about this whole thing and he's willing to do everything possible to turn this around and make me a happy customer..
Looks like he'll trow in a few goodies and will try to deliver the car closer to me so I don't have to drive all the way up there again.
The check clearing thing it's still going on, he inform me they had some people trying to scam them in the past, and I totally understand that..
But compare to before, now I am getting the customer service I deserve.
He called me early in the morning to let me know the check was being processed.
This is exactly how you make good business and I'm glad he understood what I've been going through and did something about it.
Kudos to Jim Wolleson at Brecht Mini! I hope they keep it up!
I went to the dealer yesterday and talked to the Sales Manager...
He did the right thing, he basically apologize about this whole thing and he's willing to do everything possible to turn this around and make me a happy customer..
Looks like he'll trow in a few goodies and will try to deliver the car closer to me so I don't have to drive all the way up there again.
The check clearing thing it's still going on, he inform me they had some people trying to scam them in the past, and I totally understand that..
But compare to before, now I am getting the customer service I deserve.
He called me early in the morning to let me know the check was being processed.
This is exactly how you make good business and I'm glad he understood what I've been going through and did something about it.
Kudos to Jim Wolleson at Brecht Mini! I hope they keep it up!
I hope so! 
I took a few pics of my car, It was dark and with a celphone camera.
They ask me if I wanted to test drive it, but I went " NOOOO thank you, I know I will be trying to drive it off back home
"
After all of this issues I've been through trying getting this car, I think I'll name it "MacGyver"

I took a few pics of my car, It was dark and with a celphone camera.
They ask me if I wanted to test drive it, but I went " NOOOO thank you, I know I will be trying to drive it off back home
"After all of this issues I've been through trying getting this car, I think I'll name it "MacGyver"
Last edited by MiniNova; Jun 18, 2008 at 03:13 PM.
Cashiers check is like cash. Even if they question it's legitimacy, they can easily contact the bank and verify the check / funds and you should be good to go. I sold cars for 12 years. Been there done that. Why they are breaking your ***** is beyond me.
Sorry to hear this.
Good luck!
Sorry to hear this.
Good luck!





I hope so! 
I took a few pics of my car, It was dark and with a celphone camera.
They ask me if I wanted to test drive it, but I went " NOOOO thank you, I know I will be trying to drive it off back home
"
After all of this issues I've been through trying getting this car, I think I'll name it "MacGyver"

I took a few pics of my car, It was dark and with a celphone camera.
They ask me if I wanted to test drive it, but I went " NOOOO thank you, I know I will be trying to drive it off back home
"After all of this issues I've been through trying getting this car, I think I'll name it "MacGyver"
cool...glad to read that it's all working out.
take care!
Agree, but it's still a good lesson
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