Cash is always the best option. Cashier's checks are very safe unless of course they are fake. Money orders are pretty decent too. The reason they are better than personal checks is because the person had to give the 3rd party the actualy funds to get that cashier's check, so in essense it's pretty safe and guaranteed.

 

get a money order thats cash exchanged on the spot

 

If I recall correctly, there was a scam recently where people from overseas were purchasing used cars being privately sold. I can't remember the details, there was something involving the purchaser sending more than the price of the car, and the seller giving some of that back. Anyway, the gist of it is that the "bank" that cut the cashier's check didn't exist and the person selling the car was out both car and money once the check bounced.

 

There is a scam going on right now in America with some false cashier's checks. The scam, as I have read about it, goes along with cars for sale. Guy offers to buy your car with a cashier's check from his "creditor" and the amount will be more then what you asked. "Just give the extra amount to the guy picking up the car as payment for delivery." The checks are fake. You have no money and no car. Careful folks.

 

How's this for security, if you are selling a car to someone, open a bank account at the same bank he is planning on giving you the funds from, that way, you can just have him transfer the funds into your account?

 

When I sell a car, I try to meet the person at their bank (for convenience) and we both go up to the window and have the bank draft a cashier's check to me. I could tell it was not fake. Then on the spot we exchanged the car and title. This is the best possible option.

Of course not everybody can do that, especially if they are financing. So what you would have to do is meet them at their finance company, or whatever.

There's no way to get scammed doing this.

Cash? My eyes are not that great and I don't know counterfeit from not, and how many bills are you going to inspect?? I couldn't spot a well faked check either.

Another strategy is to have them meet you at your bank, and have the bank examine their cash for you as you deposit it into your account.

This can annoy people, but you can explain that the money is too significant and you simply can't afford a bad transaction from anyone regardless of how much you believe they are good for the money.

Of course you won't get totally screwed by a dealer either, except you'll be giving up a fair amount on the price for the convenience.

 

What about transferring funds from one bank to another--as in wire transfer? Is it safe? Is there any "refund" if the deal goes sour?