Posts tagged "hold-the-rest"

I need help with a banking situation

Hi, I wasn't sure where to put this question, so I figured I would put it here. Basically here is what is going on, I am picking up a new car next Saturday, I am putting $4,000 down on the car.  The money for the down payment I am getting from a settlement for a car accident 6 months ago.  The check is for $10,500 and will be getting here tomorrow.  Now my problem is, how can I get this money cleared and in my account by Saturday?  It is an out-of-state check, and I was told that if I take it to the bank, ask for a manager, explain the situation, than they will usually grant me the $4,000 I need and hold the rest until the check is cleared, as long as they can call the person on the check and get confirmation that it is legitimate.  Is this true?  Do you know of any other ways of getting this money cleared?  I already paid the dealer $500 to hold the car until this upcoming weekend, and I am not sure they will be willing to hold it for another week. Thank you so much!

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