Long Distance Vehicle Transactions

[Silverton34]

I have seen little discussion of the proper way to sell a vehicle to someone who lives a long distance away. Mostly you hear the negatives like certainly no personal checks and cashiers checks can be forged but what is the proper and safe way for both parties? The last vehicle I sold was a late model Corvette and I completed a sales agreement with the buyer but he wire transferred the money to me and used a carrier to deliver the car. I sat for six weeks with the car, the money and the title before the carrier arrived. All the buyer had was a signed agreement and he was in Canada!

Is a wire transfer guaranteed safe and is it instantly safe or is there a period of time needed for it to be verified? Is there a better way? Cash won't work for these amounts.

 

[f5moab]

I have a friend in Nigeria who I'm sure will be happy to send you a check for immediate delivery of your vehicle.:giggle::thumbs::thumbs::thumbs:

But seriously, you can take a bank check to your bank and they can check almost immediately if it is a legit check. I did that when I sold my Jeep back in MI. The asst manger of my branch called the bank the check was from and verified it was a legit check for that amount.

 

[3Hummers]

Brian,
Your bank can set up a temporary account to accept the wire. Then move the money to your account and close the temp account. No way to reverse the wire then.

 

[Silverton34]

Perfect, thanks for the info.

 

[CaseyS]

The proper way is for him to fly to your hometown, with a bank check in hand. The bank can verify the check and notarize the title and bill of sale. He can then drive his new car back home.

 

[Bigunit]

There are also third party escrow auto services that you can use.

 

[LagunaH1]

Brian, what are you buying / selling this time?

 

[3Hummers]

Mail order bride?

 

[Silverton34]

Mail order bride?

Yea well, already have one, isn't that enough?

Mail order bride, sheesh, why would I want to disappoint two women?

 

[3Hummers]

Spread the misery?