Selling a car

[twotwoturbo]

I have sold a few on ebay, unfortunately the buyer is not always able to get them I have not been burned yet. They do not leave till funds are clear I have had cars sit here 4 to 6 weeks. Are you able to meet him at his bank and able to cash that type of check? if you call the bank ahead of time and explain the situation i know it sounds weird, they are able to have the money on hand, I have done that a few times also. hope that helps

[camaromann]

I’ve dealt with this a few times. Not at the 30k level you mention, but still for several thousands. I make them meet at a bank. If everything is agreeable we walk in together and they can hand the cash to the bank. Verified and deposited, and then title signed over and we walk out and part ways. I do not trust anything else as I’ve caught people trying to burn be in the past(thankfully before being out money or vehicle/item)

[loosenut]

Wire transfer or cash.

[4Gas$]

It is fairly rare, but a wire transfer is not 100%. Banks have been
fooled, there are a few ways it can be done.

30K is not too much for a cash sale, happens all the time.

[Wizeguy]

Hey Nick, are wire transfers like that reversible? I mean, without committing some kind of fraud? Like Sal said, one phone call and a money order is cancelled, I would think it is much harder to do that for a wire transfer. I was just wondering because it seems like a pretty good idea. Get an intermediate account, and just pass the money through it to your real checking at a different institution.

It's crazy how hard it is to buy and sell expensive stuff.

-Geoff

I'm gonna verify through his credit union and then open another account in my bank.. have him transfer the money into that account and pull thw cash out right away and shut that account.
Even not to happy about taking $100 bills.. a few could be fake

Wire transfer or cash.

Going with a wire transfer

[CMYZ28]

I'm gonna verify through his credit union and then open another account in my bank.. have him transfer the money into that account and pull thw cash out right away and shut that account.
Even not to happy about taking $100 bills.. a few could be fake


Going with a wire transfer

Andy only gets his advice from me! Lol jk sort of haha.

Wire transfer is better than cash, I agree. Only guaranteed funds can be released to SEND the wire and the recipient is the only one who can release them for return.

Some banks use different routing # for wires vs ACH/checks so just make sure you've got the correct routing #.

[Wizeguy]

Andy only gets his advice from me! Lol jk sort of haha.

Wire transfer is better than cash, I agree. Only guaranteed funds can be released to SEND the wire and the recipient is the only one who can release them for return.

Some banks use different routing # for wires vs ACH/checks so just make sure you've got the correct routing #.

So if I'm reading that correctly, once the funds are wired, he cannot take the money back... only I can send it back..

[wrath]

I go meet them at their bank and have them withdraw the amount of cash and hand it to me. I'd rather no one know how much I bought or sold a car for.

Good luck with the 1099!

[CMYZ28]

So if I'm reading that correctly, once the funds are wired, he cannot take the money back... only I can send it back..

Yep, once your banks shows it accepted/pending there's no way to recall the wire on their end.

[ultradriver10000]

Wire or cash.... checks all kind of suck.

If they wanted to do part of it on an app like cashapp or paypal I wouldn't be super worried about it. $5-10K gifted on venmo/paypal/cashapp would be fine...