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Originally Posted by stealth.pilot
Quote:
Originally Posted by ufgtrs2007
How do you guys protect yourself when selling such an expensive car on autotrader?
I'm thinking about selling myself, but I'm a little worried dealing with people who may have other agendas.
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I didn't see much risk:
First you sign a bill of sale and have it notarized. This is a legal contract which commits you to delivering the car once the buyer delivers the funds.
Second you ask the guy to wire you the money to your bank account. My bank Charles Schwab can create a temporary receiving wire account for the transaction so I don't need to give away my real bank account information. This is what I did.
Once the funds are received into the account you deliver the car and sign over the title (I think you just sign the back of the title and maybe a title transfer form).
There is a slight risk if the buyer wants to pay with Cashier's cheque. In this case you should do the transaction in a bank branch so they can validate the cashiers check before you sign over the title. |
+1 on the wire transfer. Only way at take certified Checks or Money Orders is US Postal Service Money Orders as they can be traced. We Use USPS MO commonly in the gun trading world as fraud runs rampant with personal and certified checks/non-USPS.