[jaye944]

So kinda rolling on from my looking for a car thread,
So "selling" as opposed to doing a trade in

OK I'm in Canada, I'm guessing NA is the same

Where talking about mid $20K sale price,

So How do I ensure I don't get ripped off and scammed whilst also looking at it from an "honest seller"

options

1> Ca$h = am sure it' probably not a good idea to have 20+ grand on you

2> Cashiers Cheque = Do I keep the car till it clears, is it good as cash, can it be cancelled, I know some people have said, literally, goto the bank with the guy and do it there and then

3> Bank transfer ^^ same as above

any other options or ideas, txs

[Never_Enough]

Send the check right to their bank if financed

[TheWatchGuy]

only cars ive ever sold i only took cash.

you can meet them at their bank if they are uncomfortable carry that amount of cash.

[Uber Commuter]

Personal Check and hold the title; worked perfectly for the last two I bought/sold as well. It provides a bit of security for both sides.

[Joekerr]

Canada isn't going to let you cash a personal cheque same day. Has to be certified. But I otherwise like the second method of getting the cash from the bank and taking it to a different bank - alleviates the concerns of counterfeit.

Just don't use same bank OP. If you take it from one bank and drive immediately to your other bank, the odds of getting ripped off on route are very low. Remember, we aren't all walking around strapped up here.

[Joebie]

For the people who take personal checks and let the buyer take the car, what if the check is fake and the buyer actually does have malicious intent?

If that's the case, it doesnt matter that you have the title, your car is probably in a million pieces and on craigslist "car parts for sale" by now, right?

When I'm selling a vehicle its either cash, or go to their bank and literally watch them get a cashiers check from the banker, I personally think those are the two most foolproof methods. Anything other than that and I will be very skeptical, especially with a personal check!

[JamesWWIII]

Originally Posted by Joester

When I'm selling a vehicle its either cash, or go to their bank and literally watch them get a cashiers check from the banker, I personally think those are the two most foolproof methods.

+1

These are the only two methods I've ever accepted when selling a car.

[420Coupe]

Going to agree with everyone else; Go with them to their bank to get the cashiers check.

I did it in January when i bought the ///M. Personally went to the bank with seller and filled out all the paperwork with him there and got him the check. Then just for additional comfort to both myself and buyer; took him to his bank to deposit the check.

[Uber Commuter]

How do you go to the bank for a cashiers check on Sunday?

What people have agreed to provide you with $20k in cash? (Personally I'd tell you to pound sand if that was your only answer as a seller. If you've convinced someone to do it, then more power to ya)

How do you go to their bank and get cash when they are out of town or don't have a local bank? (My bank is USAA, no means to withdraw large cash sums locally...)

All your suggestions are great, but also assume that you the seller are 100% honest and only protecting yourself at expense of buyer. Real life requires said buyer to be just as cautious of you the suspected scamming seller, so any option that puts them at much greater risk would be flatly refused unless they are idiots...

[Alfisti]

Absolutely astounds me the amount of nervousness selling private over here compared to back home in OZ, we just sell the fuckign car. Jesus.

[Never_Enough]

Personal check? Nope.

[1MOREMOD]

Iou, personal favors, chuck e cheese gift cards, or wife as collateral.

[e90-4aj]

Best option is either cash, or go to their bank and literally watch them get a cashiers check from the banker

[jaye944]

where talking 20K-23k; will a bank give you that much cash, in one go ?

I don't carry weapons, just have my wife in tow, dat's scary enough

Originally Posted by Joekerr

Canada isn't going to let you cash a personal cheque same day. Has to be certified. But I otherwise like the second method of getting the cash from the bank and taking it to a different bank - alleviates the concerns of counterfeit.

Just don't use same bank OP. If you take it from one bank and drive immediately to your other bank, the odds of getting ripped off on route are very low. Remember, we aren't all walking around strapped up here.

[Alfisti]

I am lost as to what the issue is.

Guy gives you a cheque, once it clears and money is in the bank he picks up the car.

How hard could this be?

[TheWatchGuy]

Originally Posted by Uber Commuter

How do you go to the bank for a cashiers check on Sunday?

What people have agreed to provide you with $20k in cash? (Personally I'd tell you to pound sand if that was your only answer as a seller. If you've convinced someone to do it, then more power to ya)

How do you go to their bank and get cash when they are out of town or don't have a local bank? (My bank is USAA, no means to withdraw large cash sums locally...)

All your suggestions are great, but also assume that you the seller are 100% honest and only protecting yourself at expense of buyer. Real life requires said buyer to be just as cautious of you the suspected scamming seller, so any option that puts them at much greater risk would be flatly refused unless they are idiots...

dont sell on sundays.

dont meet in a private/remote location.

dont sell to people who cant meet your terms.

pretty easy to sell stuff. Ive sold everything from $5 bs items to $30k cars and items online/in person. Its not rocket science. just requires some common sense.

[jaye944]

I've bought and sold cars for a couple of grand, no problems,
I even bought a 944 for 10g, but the guy was fine with a bankers draught

20k+ is a different ball of wax, for those of us that can't afford to loose it

Originally Posted by Alfisti

Absolutely astounds me the amount of nervousness selling private over here compared to back home in OZ, we just sell the fuckign car. Jesus.

[jaye944]

LOL 2 funny

Originally Posted by 1MOREMOD

Iou, personal favors, chuck e cheese gift cards, or wife as collateral.

[PhilipUK]

I guess that on-line banking isn't as big across the pond as it is here in the UK?

The last 2 cars that I bought privately, I just used my laptop to transfer the money into the seller's account. He then logged on to his bank and checked that the funds were in his account. Sorted!

[jaye944]

to those with some really good suggestion and obviously understand the issues involved THANKS !,

[NoMoreAudi]

No need to flame the OP. He's asking a legitimate question and given the nature of transactions that occur these days, I don't blame him.

While 20k cash may not seem like a lot of money to some, to others it is. Respect that and give him some tips. Maybe he's 16 years old and hasn't had the same life experience as you.

Here's my advice - if he agrees to your terms in advance but on the day of (or even after you meet in person) wants to change some of the terms, walk away. He may try to do it very casually, like "Hey is it ok if I just give you a personal check from my bank? They said it's [insert bullshit lie here]." It never hurts to have things in writing. Verbal agreements don't mean anything nowadays.

Last minute changes are an immediate red flag and honestly, there are plenty of people out there who can buy your car. Move on and don't deal with the hassle of it. I bought my motorcycle from a shady guy out of LA so I brought my friend who worked LAPD vice (beard, piercings, professional liar). As an added bonus we actually ran the plates on the motorcycle to ensure it was clean, lmao. While you don't have to bring a police officer with you... it never hurts to have a second person there who can watch your back, should you feel uncomfortable going alone.

[IllSic_Design]

Originally Posted by PhilipUK

I guess that on-line banking isn't as big across the pond as it is here in the UK?

The last 2 cars that I bought privately, I just used my laptop to transfer the money into the seller's account. He then logged on to his bank and checked that the funds were in his account. Sorted!

ACH or wire transfers take more than one day, so how would that work?


(Edit: This is exactly why we need Xrapid(XRP crypto) adoption by banks so that we can have nearly instantaneous banking transfer transactions, and hugely reduced fees while doing so.