I want to purchase a boat from my home state. I'm pre-approved, but since it's nine hours away from where I am, I plan on taking a cashier's check from my loan company. Should the boat not be as described, can I return the cashier's check and void the loan?
It's doubtful that you could void the loan; there might be a minimum fee involved even if you paid off the account the same day you received the check. After all, the lender incurs costs in approving a loan and setting it up on his books. For a complete answer to your question, ask the lender.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
It's doubtful that you could void the loan; there might be a minimum 