Well I've decided to put my 09 C4s cab up for sale. And my question is with my vehicle paid off what is the best and most secure way for taking payment with least likely of being scammed or denied payment. When I would be handing over my keys along with title. To would be out of state buyers? Just wanting to protect myself the best I can in this day an age. Any and all advice is greatly appreciated.

 

I've always done either cash (that is, real cash $) or a certified check. With hard cash the answer is obvious (barring counterfeit). Certified check, take it to the bank and they will verify that it is real and then have the cash transferred (usually takes 48 hours).


So in either case, take the cash to the bank to verify it's real, for the certified check, the soon to be owner waits 48 hours....now he gets to trust you versus you having to trust him.

 

Good advice but not many people run around with $40k+ in cash. At least not the circles I run in. The certified check seems one way or waiting on personal check to clear b4 sending title. I'm usually the one spending the money not receiving large sums.

 

For a small fee, the dealer where you do your PPI will often handle the transaction for the two parties.

 

You can stop payment on a certified cheque. Get a bank draft - the money is withdrawn from the account when the draft is issued and held until the draft is deposited.

 

Cash is KING.

 

I would meet buyer at your bank and let them verify transaction. Put responsibility on your banker. Plus buyer will be on video. Good chance a crook would not want to be on video. No legitimate buyer would say no to a bank transaction. Good luck.

 

I agree with handling the transaction at their bank and having the funds either wire transferred to your bank or you actually receiving a bank check from the bank employee at their desk so it is recorded. Then promptly depositing that check into your account or verify the wire transfer was received.

If out of state, and I just bought a car like this last year, I asked for and received a copy of the title to the car, current pictures and service records. I verified the address of the seller via Google, to see if it actually existed. I then did a wire transfer to his bank directly, via my bank. Once he confirmed receipt of the transfer I flew out and picked up the car.

Now, during all of this I had several conversations with the seller. The key here is communication and response to requests. The seller was absolutely terrific on everything and not a single red flag popped up at any time. Had I gotten a bad feeling or communication stopped or been delayed at any point, I would have considered another approach - like an escrow company to handle the funds and complete the transaction for me.

If your spider sense tingles, listen to it. Good luck.

 

This, go to the bank and have him wire you the money. Bank could verify the funds. No dishonest person will ever want to step into a bank knowing that he is being recorded. It's actually safe for both parties.

 

Alot of great ideas ,thank you very much. I actually like meeting at their bank and wire to mine. Their bank will verify funds then transfer.