How do I pay the seller after I get a loan from the bank? Is it in the form of a check? Maybe a stupid question, but Im not sure.
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many ways –personel check if they put it in your account ,bank draft –money transfer etc etc
Yes, usually a cashiers check. Most banks (depending on your relationship with them) won’t give you the check to give them. They will want to give it to the seller directly and perform the sales transaction in their branch.
This depends on what type of loan you took out. If it is a personal loan, then the bank will give you the check and you can pay the seller. But if you took a loan out specificaly for automobile purchase, and the loan is tied to the car, then your bank will give you a check made out in the name of the seller. Just ask your bank and they will happily help you out on this matter. Its very simple.
you can do certified check, cashiers check, personal check (if deposited into your account), or wire transfer into their account. I’d personaly go with the cashiers check. Some banks don’t use certified checks. Cashiers checks are guarenteed funds and won’t require a hold to be put on it.