wasupdu

I've been trying to sell my car for the last 5 days and have had no problems getting offers at or very near my asking price, but my question is in regards to the form of payment.

ASIDE FROM CASH, what is the best way to deal with a private party purchase? I had a guy bounce a personal check yesterday, and another guy who tried to give my a counterfeit Bank of America cashier's check today where the watermark said "Neenah 100% cotton." I called the bank and they informed me that the watermark was incorrect. I obviously declined the check from the buyer.

What is the most secure payment other than cash? What else do I need to look out for?


mods: please don't move this thread to the for sale forum as I think it will help increase the knowledge of ALL s2000 owners. thank you.

Mister Jew

wow someone gave u a fake cashiers check thats crazy? I dont see why you cant get cash regardless if its a check or not just go with the buyer and deposit it in your acct. If you have a garage just make out a bill of sale and leave the car in the garage till check clears than let the buyer come pick up the car.

JaTe

dont release the title until the check clears? that way you can still report the car stolen???

do you own it outright or is it still financed? i sold two cars on autotrader and both cases (since the car was financed), the buyers bank paid my bank. i just called and verified that a payment was made from one bank to another. bank had the title anyways, so it wouldnt have been released unless the payment cleared.

CKit

Go with the person to their bank. Go inside and have them make out the Cashier's check directly to you and physically hand it over to you.

wasupdu

Thanks for the replies guys. I own the car outright. No lien holder. I swear I'm gonna sell the car at a dealer next time. What a headache!!

Fuelrush

Wire transfer? I did this once. Wasn't for a car but it was easy on my part. I was the sender.

vtec9

Go into the bank with the buyer and get the bank check.

GOS2K007

That is probably the safest way to get this done. Get the check directly from the bank and then sign the title over to him at that point.

chino101

jelliotlevy

Sorry, but your comments reminded me of an old, old joke. To paraphrase, even the wool that guy was trying to pull over your eyes was actually 50% cotton. I personally would take that one to the police - definitely an attempt at criminal fraud. For the serious money level involved in S2000 purchase, nothing but a cashier's check or certified check should suffice. Period.