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Selling a car to out of state buyer

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Old 08-08-2018, 12:33 PM
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Default Selling a car to out of state buyer

Quick question. I sold a car (not the ones in my sig) to an out of state buyer on Ebay motors. It was paid for by a US Bank personal check and the funds have been in my account for 14 business days. There is a shipper coming to pick up the car this weekend. Since the check is cleared and the funds have been in my account for two weeks, there isn't any way this money can be taken back out, is there? I just want to make sure that once the car leaves and I mail the title to this person that a stop payment can't be applied to the funds. My bank told me that a cashier's check or personal check is safer than a wire transfer for transactions like this provided they can wait ten business days for the check to clear before taking possession of the car. Just seeing what you wise people think.
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Old 08-09-2018, 03:00 AM
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I can't imagine you have anything to worry about beyond any lemon laws if they are applicable in your state.
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Old 08-09-2018, 05:12 AM
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Not sure about the lemon law but the bill of sale that is already signed states that the option for PPI was declined and that the vehicle is purchased as is with no warranty expressed or implied.
I get more worried about turning over a car and then somehow the money also disappears with all of the scams these days. It IS going to disappear when the 1978 280z in my neighborhood goes up for sale.
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Old 08-09-2018, 05:44 AM
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Originally Posted by IA-SteveB View Post
Not sure about the lemon law but the bill of sale that is already signed states that the option for PPI was declined and that the vehicle is purchased as is with no warranty expressed or implied.
I get more worried about turning over a car and then somehow the money also disappears with all of the scams these days. It IS going to disappear when the 1978 280z in my neighborhood goes up for sale.
If the money has been in your account for 14 days then you're in the clear. I'd proceed with confidence.
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Old 08-09-2018, 06:52 AM
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If the money shows as posted and not pending, you should be good to go. All refunds at this point will need some kind of authorization by you. For peace of mind I'd call my bank just to double check, but if its posted I'd proceed. Heck if you are extra paranoid you could move it into another account or your savings, so it would he under a different account number than the one you gave for the transaction.
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Old 08-09-2018, 07:14 AM
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Even if it has "posted" to your account, you need to specifically ask your bank if they have received the money from the other bank. Sometimes you can make a deposit and it shows as posted; this is simply a courtesy by your bank because it does take a few days to actually post. That being said - 14 days later there is little to no risk.
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Old 08-09-2018, 08:15 AM
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Move it out of that account into a different one if you're worried.
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Old 08-09-2018, 08:17 AM
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Originally Posted by RobM View Post
Move it out of that account into a different one if you're worried.
the bank would still just deduct it and put that account into a negative balance.... but after 14 days - should be fine.
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Old 08-09-2018, 08:17 AM
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Also - it is kind of weird to not send certified funds....
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Old 08-09-2018, 12:35 PM
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Originally Posted by IA-SteveB View Post
Not sure about the lemon law but the bill of sale that is already signed states that the option for PPI was declined and that the vehicle is purchased as is with no warranty expressed or implied.
It doesn't matter what's stated in the contract; state lemon law if you have one in your state is still the law. If the car is solid and you're shipping it out of state, you are unlikely to be on the hook unless shipping it back costs less than the repairs.
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