holdrja Posted May 5, 2015 Report Share Posted May 5, 2015 Hi - thinking of paying a used car from a dealer in Guadalajara. We'd be paying with U.S. funds drawn out via a check (no wire transfer possible). Which makes more sense? Deposit the American check to our Bancomer account, wait a few weeks for it to clear, and then do an inter-bank transfer to the car dealer? Give the car dealer a check made out in American dollars, drawn against our bank in the States, using an agreed-upon exchange rate? For those of you who have bought a car from a dealer in Guad - how did you make the payment for it? Link to comment Share on other sites More sharing options...
Floradude Posted May 5, 2015 Report Share Posted May 5, 2015 A car dealer would only take an American check if he had a bank account in the US. I have purchased two new Hondas in Guadalajara and it had to be in pesos: The first one was done with a peso wire transfer from my US bank directly into the Honda Dealer bank. The second one was done with a peso check written on my local Banamex account. Link to comment Share on other sites More sharing options...
Natasha Posted May 5, 2015 Report Share Posted May 5, 2015 Floradude is right. No dealer will take a US check unless they have a US account..... and that's not too likely. And they are watched like hawks these days, thanks to narcos using car purchases as a way to launder funds. (Hence no large cash transactions) I just bought a new car in Guad, and had no way to receive wire transfer form my NOB bank (all rules tightened up). Lucky I had another way around it (not relevant to this discussion). If you can have money sent to your Bancomer acct from your US account, then you can do interbank transfer from your Bancomer acct to the dealer's bank account. They will give you the needed info. Often, they want the interbank transfer rather than a check, unless it is a cashier's check -- faster, and no doubt of check being no good. By the way, also sold my "old" car (privately) and buyer wanted to give me all cash. NO WAY! Had him do interbank transfer from his MX bank to ours, to avoid any red flags when walking into bank with fistsful (fistfuls?) of pesos. . Link to comment Share on other sites More sharing options...
cedros Posted May 5, 2015 Report Share Posted May 5, 2015 When you buy a new car using Spencer from S & S Auto he takes US or Canadian cheques. Link to comment Share on other sites More sharing options...
canmex87 Posted May 5, 2015 Report Share Posted May 5, 2015 When you buy a new car using Spencer from S & S Auto he takes US or Canadian cheques. He also gives an excellent exchange rate. Link to comment Share on other sites More sharing options...
Lexy Posted May 5, 2015 Report Share Posted May 5, 2015 Offer a payment in pesos. Negotiate an exchange rate that is acceptable to dealer and good for you. Try an offer of a 13.5 exchange rate. Lexy Link to comment Share on other sites More sharing options...
Natasha Posted May 5, 2015 Report Share Posted May 5, 2015 Lexie, I know you have a lot on your mind recently, but....... (1) the cars are already priced in pesos, with pesos being the expected method of payment, and (2) have l you checked the recent SPOT rate, much less buy/sell rates? This morning SPOT was 15.40 at 9:00 a.m.----- so an offer of 13.5 would beconsidered a joke at best, and an insult at worst. Link to comment Share on other sites More sharing options...
El Cartero Posted May 6, 2015 Report Share Posted May 6, 2015 The only dealer I've ever run into which charges USD is BMW. And they charge their rate on the day you pay. Yeah, they charge you usd But wont take them. There is no mutual accord to the rate. I once had the option of a used car 500 USD less than a new car of the same make and model. In my experience, unless your looking for some old 5000 dollar car, the prices for new vs 2 or 3 years old would dictate choosing the new car that comes with a warranty and zero miles. So in response to your question put the usd check in your bank here and when it clears to pesos you're good to go. Or, have your bank in the US convert and wire transfer here in pesos. Link to comment Share on other sites More sharing options...
hensley Posted May 6, 2015 Report Share Posted May 6, 2015 In the old days you could right a check, and we have, but now we have to do a bank transfer from Multiva to them. Link to comment Share on other sites More sharing options...
El Saltos Posted May 6, 2015 Report Share Posted May 6, 2015 First, ask the dealer which forms of payment they accept. I've purchased two cars in Guad, one from Mercedes and one from Toyota. In each case they would accept; wire transfer, bank transfer, cash, and $USD check. You may be surprised by the answer you get. Link to comment Share on other sites More sharing options...
jguerin Posted May 6, 2015 Report Share Posted May 6, 2015 As we are in Mexico the first option should be in Pesos and than could be discuss differently if the buyer want it. Nothing should start in US. My opinion. Link to comment Share on other sites More sharing options...
adolphsj Posted May 6, 2015 Report Share Posted May 6, 2015 S and S no longer takes US checks, only Canadian. Just got a new Honda in Guadalajara with Spencer. Both us and the couple ahead of us put it on US credit cards which was Ok with that dealer. Of course commission involved. Didn't want to wait 7-10 days for a US check to Bancomer to clear. Our Wells Fargo won't initiate a wire unless we are in the US to do it... Link to comment Share on other sites More sharing options...
sambrit10 Posted May 6, 2015 Report Share Posted May 6, 2015 When you buy a new car using Spencer from S & S Auto he takes US or Canadian cheques. I think we were the couple that bought our car just ahead of adolphsj using a credit card and can verify that he no longer takes US checks, probably due to the tightening money laundering laws. For the original poster of this topic, sounds like putting the money in your Banamex account is the way to go. Link to comment Share on other sites More sharing options...
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