[Yancy]

Hey guys. I'm selling my built TT 350z and the buyer is flying in from Virginia this weekend to get the car. He emailed me a copy of the check from Navy Federal Credit Union and it is written out to me and the buyer. The routing # is the correct one for the cu. The lower right hand side of the check has a line for a signature by the "applicant." This is weird to me since I'm used to seeing this line on bank checks signed by someone from the bank. The buyer said that no one from the bank needs to sign it and that he has instructions. I thought he would have to sign the back of the check since its made out to he and I and then I would take it to the bank, sign the back and deposit it. I'd like to hear someone's point of view that has dealt with a Navy Federal CU loan check?

Thanks in advance.

 

[biznaka]

I would just check with your bank and see what they say...

 

[gilly6993]

I have Navy Federal and have dealt with other Credit Unions in the car buying process....you both need to go to your bank as they will need to see his ID to verify it's him signing the check.....

 

[Yancy]

I have Navy Federal and have dealt with other Credit Unions in the car buying process....you both need to go to your bank as they will need to see his ID to verify it's him signing the check.....

That is not going to be able to happen because he is flying in tomorrow night at 10:25 pm when my bank is closed. If he signs the front and the back, isn't the signature on the back and endorsement that then allows me to negotiate it by either cashing it or depositing it? I need to take a copy of the check to my bank to see what they say about this.

Thanks for the input guys.

 

[bobcatnj]

I've been a long time member of NFCU and I've actually sold a car this way. The buyer had to provide your vehicle information to NFCU before they sent out the loan package (containing the check) so you can call them to verify if the check is legit...888-842-6328...they should also be able to walk you through the process to add some level of comfort. Be sure to have a bill of sale and get it notorized if possible. Good luck!

 

[scottryana]

Bob is right on the money. I would call Navy fed to verify that the check is indeed from them. But Navy Fed has been very good by me.

 

[PABers]

Navy Fed has very detailed instructions on how to process the check; if he only has the check I would be suspicious. I cant speak for a private sale, but I have used Navy Fed for a loan on a new car and I was the only one that signed the check front and back.