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Old 05-01-2012, 10:41 AM   #1
ShaneM
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Default Safest way to sell a car to someone out of state?

I've been getting a lot of calls from people who are out-of-state interested in my boss 302. The thing I'm not sure about since I've never sold a car to someone that wasn't local is how to go about getting the money without getting ripped off.

obviously I won't take a check. I'm sure some of you have sold cars to people out-of-state who simply hired a transport service to pick the car up. What would you recommend as the safest way to sell a car and get paid without worrying about getting ripped off? I've had different people tell me money orders are as bad as checks, cashier's checks aren't a good idea, and even having money wired from their bank to your bank isn't safe. suggestions?
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Old 05-01-2012, 10:47 AM   #2
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bank wire. I sell watchces all over the world, and bank wire is always the best.
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Old 05-01-2012, 10:51 AM   #3
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bank wire. I sell watchces all over the world, and bank wire is always the best.
do you wait a specific amount of time until the money clears? my cousin works at a local car lot and said they stopped taking wires for purchases because the wires can be faked somehow. they may just be worried about nothing IDK (or he may not know what he is talking about in this case).
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Old 05-01-2012, 12:51 PM   #4
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Wire is what I'd use. Maybe get the contact info for the sending bank's contact (eg the person who initiates the wire) so you can verify it's a "real" wire.

Once your bank validates receipt of the wire, usually within a couple hours of sending, you can send the car on its way.
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Old 05-01-2012, 12:53 PM   #5
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thanks guys
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Old 05-01-2012, 12:55 PM   #6
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Hire this guy in case a "friendly visit" needs to be paid:




Seriously, though, a wire will be fine, as everyone said.
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Old 05-01-2012, 02:27 PM   #7
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Another method is to see if the person banks at one of the national chain banks. I sold my vete to a guy from vegas. He also wanted to see the car in person so he flew down and it made things a lot easier that he banked at wells fargo. He saw the car, then we went to the bank where he had them transfer the money from his account to mine. He took the title and 1 set of the keys and sent fedex to pick up the car. Yes fedex has enclosed car carrier service
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Old 05-01-2012, 02:34 PM   #8
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Had a friend who sold his to a person in china. The wires are not 100% safe as there are ways to yank the money back after its been wired. His bank told him to open a second account for the wire. As soon as the money came into the account they would transfer it immediately to his regular account. This way if there was any funny business from the buyer, he wouldn't have my friends regular account information and there would be nothing left in the temporary account since money would be transfered to regular account
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Old 05-01-2012, 03:41 PM   #9
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Quote:
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Had a friend who sold his to a person in china. The wires are not 100% safe as there are ways to yank the money back after its been wired. His bank told him to open a second account for the wire. As soon as the money came into the account they would transfer it immediately to his regular account. This way if there was any funny business from the buyer, he wouldn't have my friends regular account information and there would be nothing left in the temporary account since money would be transfered to regular account
This is the way I would go and have in the past.

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Old 05-01-2012, 03:58 PM   #10
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Quote:
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Another method is to see if the person banks at one of the national chain banks. I sold my vete to a guy from vegas. He also wanted to see the car in person so he flew down and it made things a lot easier that he banked at wells fargo. He saw the car, then we went to the bank where he had them transfer the money from his account to mine. He took the title and 1 set of the keys and sent fedex to pick up the car. Yes fedex has enclosed car carrier service
I have done this. I bought a motorcycle by transferring the money directly from my account to his. He had the bike, title, and keys ready to go and we met at a branch location. Once the transfer was done and we had our receipts I took possession and rode it home.
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Old 05-01-2012, 05:06 PM   #11
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Once a wire shows posted to your account, you can call the bank to confirm it's there. Sometimes, it can show up as pending, and that is when it hasn't fully be transferred yet. But a wire, inherently, is a one-way transfer.

Secondly, is this guy financing the car himself? If that is the case, the bank/lender who he is financing through will probably want to send you a check. You can talk to them directly.

Regardless, the car is insured, so even on the random off chance he somehow pulls of a master thief, your insured. Just don't assign the title until you receive funds.

It's really a lot more secure and easy than some would have you believe.
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Old 05-02-2012, 03:47 AM   #12
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thanks guys, ive actually got a second account at my bank that i used in the past for other things. perhaps ill just have anyone that wants to do a bank transfer wire to that account and then ill move the money directly to my main account when it hits.
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Old 05-02-2012, 09:36 AM   #13
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I sold my Z06 to a guy in Canada. We did a wire transfer. Chase Bank said it could be pulled back until midnight but after midnight I was ok. I setup a second account and had it transferred to that account. As suggested you could open an account at the buyers bank have the funds transferred and withdraw the funds.
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Old 05-02-2012, 09:43 AM   #14
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cool, that's what i'll do. Ken you still thinking about a new track car?
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Old 05-02-2012, 01:45 PM   #15
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Quote:
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cool, that's what i'll do. Ken you still thinking about a new track car?
I am looking for a W2W car. I might bite the bullet and make the M3 a GTS car like Thomas did. I think I can run NASA and BMWCCA. Although BMWCCA races are rare around here. Not sure about SCCA classing.
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Old 05-03-2012, 03:46 AM   #16
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Quote:
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I am looking for a W2W car. I might bite the bullet and make the M3 a GTS car like Thomas did. I think I can run NASA and BMWCCA. Although BMWCCA races are rare around here. Not sure about SCCA classing.
i found a nice CMC mustnag with a almost new build engine, you seem to like the european rides so you might not be interested. the dude was only asking $10,500 and it is very nice if you want the details let me know.
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