How to keep from getting screwed on a used car sale

[turbojimmy]

Hi all,

I'm selling my '97 Explorer and have an interested buyer in Philly, which is about 2.5 hours away. To avoid the complication of multiple trips between here and there, I'll need to make some compromises. The guy wants to pay me $2k in cash and the balance via a certified/bank check. It's a loan, so he says the bank will FedEx me the check directly and it will be made out to me. Sounds reasonable to me.

He seems pretty flexible on how to get the vehicle once he pays me. Says he can leave it here while he gets tags, or maybe I can bring it down there, etc. The easiest thing to do would be for me to let him drive it home on my tags and then mail them back to me. If he has his own insurance I'd be okay with that arrangement. My fear is the recent fake cashiers checks that have been going around. Apparently the banks can't even tell until many days later. Is there any way I can protect myself? The guy seems to be on the up and up and I'd like to avoid driving to Philly if I can.

TIA,
Jim

 

[GNSCOTT]

Do Not give him anything until all checks clear. It is easy to forge a bank check. If he writes the vin on the check and states the reason for the check, that is his receipt. It is the same as taking a personal check from the guy. Until a check, money order bank check etc... clears, it can be cancelled, reported stolen etc. Dealerships will take anything because their insurance covers reposessions. I do this for my ebay auctions, I'd deffinately do it for a car.JMHO, not a legal one.

 

[ttypewe4jim]

Originally posted by turbojimmy
Hi all,

I'm selling my '97 Explorer and have an interested buyer in Philly, which is about 2.5 hours away. To avoid the complication of multiple trips between here and there, I'll need to make some compromises. The guy wants to pay me $2k in cash and the balance via a certified/bank check. It's a loan, so he says the bank will FedEx me the check directly and it will be made out to me. Sounds reasonable to me.

He seems pretty flexible on how to get the vehicle once he pays me. Says he can leave it here while he gets tags, or maybe I can bring it down there, etc. The easiest thing to do would be for me to let him drive it home on my tags and then mail them back to me. If he has his own insurance I'd be okay with that arrangement. My fear is the recent fake cashiers checks that have been going around. Apparently the banks can't even tell until many days later. Is there any way I can protect myself? The guy seems to be on the up and up and I'd like to avoid driving to Philly if I can.

TIA,
Jim

me presonally (we live right out side philly) would be VERY careful
dealing with anyone from the city alot of them are crooks (sp) and they will seem very nice but rip u off.........there is a guy down in philly that tricks the crap out of people all the time hitting them up for 150 at a time some times the police caught him 7 times so far but he keeps doing it.....all im saying is WATCH ur back with them

hth
jim
ps were in philly is he from (if u know)???

 

[turbojimmy]

Scott-

Thanks for the info. I'll see if he's cool with waiting 'til the check clears. If he's on the up-n-up then it shouldn't be a problem.

Jim

 

[GNSCOTT]

Exactly Jim, If he gives you a check to a bank near you, you can cash it the same day w/ no wait. My Dads friend had someone buy a $5k business computer system. Wrote him a bank check, and to make a long story short, it was forged.

 

[turbojimmy]

Re: Re: How to keep from getting screwed on a used car sale

Originally posted by ttypewe4jim
me presonally (we live right out side philly) would be VERY careful
dealing with anyone from the city alot of them are crooks (sp) and they will seem very nice but rip u off.........there is a guy down in philly that tricks the crap out of people all the time hitting them up for 150 at a time some times the police caught him 7 times so far but he keeps doing it.....all im saying is WATCH ur back with them

hth
jim
ps were in philly is he from (if u know)???

I don't know where in Philly he's from yet. I was a little suspicious 'cause I only have a cell phone # for him, but these day's that's not unusual. Says he's in the National Guard and was on duty in DC until yesterday. I was a little suspicious, too, because he was so anxious to close the deal without having seen the truck (though I have really good pics of it on Autotrader). Said he'd call his bank today to get things moving. Who doesn't know it's Christmas Day?

I'll be careful.....thanks.

Jim

 

[salvageV6]

I got $7K in cash to pay for my GN.

Guy delivered it for me too.

No reason he can't get the cash himself if he makes arrangements with his bank first.

That's what I would do.

 

[irockwithdirt]

If he has the bank check, have him cash it and give you the cash, or meet him at the bank the check was drawn for to cash it.

Even if it takes you way out of your way..........its worth the peace of mind.

Its way too easy for someone to pull a scam these days. Thank god the majority of us are still honest

 

[Lee Thompson]

plates

Plain and simple---get the cash in your hands and your plate OFF the vehicle before he takes delivery. You/re way to trusting. Sorry to say, but everyone is not like 99 percent of the Buick community. You ask for opinions--take them to heart.

 

[Grumpy]

like salvage an lee said ..... no $$$$ no truck !!!! plain an simple .... I hate to say it but I am one of those trusting people like you .... BUT now ya cant go by "he seems like a decent person " ....really kinda sad ... years ago your word was worth somethin .... now the "word" is show me the cash !!!

Merry Christmas everyone !!!

 

[1badTTA]

In GOD We Trust, all others must pay cash.

That is all I have to say

 

[Gary Wells]

Cash rarely lies.
Wanting to pay you without seeing the vehicle would scare me.
As in any distant deal, everybody needs the vehicle to be paid for before the vehiicle changes hands.
I would not sell a vehicle unless they have seen it first. That protects you and them.
I would also insist on cash.
Unless they are a forger, that also protects you and them.
I guess that I am just not a trusting soul.

 

[Mark E.]

Cash in your hand before anything is signed, and let no one drive on your plates. 2 rules I would use. If he has a reciept and the title, there will be no problems with the feds on the way home. He may have to show it, but so what. Cover your ass...... Merry Christmas! Mark E.

 

[turbojimmy]

Thanks to all for the replies. I am very trusting by nature, but fortunately have been a good judge of character to date. Haven't been majorly screwed so far. This guy seems nice, but a couple of things are a little fishy so I thought I'd ask a more skeptical bunch of people about it. Thanks!

Sounds like the check will get here before he can drive up here so I have time to make sure it's cool. He must realize that the check is his receipt as others have pointed out.

I was going to let him drive home on my tags, but now I think I'll have my brother follow us down to Philly instead. Either that or wait 'til he gets plates.

Jim

 

[tom h]

even "official" cashiers checks have been forged. if accepting a cashiers check,

-- have cashiers check in your hand, none of this "it will be mailed" stuff.

-- cashiers check drawn on a recognizable, well-known bank.

-- call the bank to verify it's real, don't worry about "offending" the buyer.

-- if it's a bank loan like buyer says, most banks are skeptical of private-party car sales, due to fraud risks. I'd expect the bank would want to SEE the car before they fund the loan. In any case, having the bank manager issue the check to you in person, may be a good diea.

-- don't hand over keys or title until everything is A-OK clear and paid for !

For just $8, complete a "bill of sale" at Nolo :
http://www.nolo.com/lawstore/products/product.cfm/objectID/D5950D65-2478-4D05-B202D16C8BBA5294

Nolo is very welll respected and legit for "self help" legal stuff.
The advantage of a formal bill of sale, is if disputes arise ("you promised me a 90 day warranty!"), then you have a clear-cut written agreement should it land in court.

 

[TR Custom Parts]

Once the money changes hands I would let him worry about taking delivery of the vehicle. If something happens when you are delivering it to him (accident, mechanical failure) , then what?

 

[Chuck Leeper]

If it talks like a duck??

On your plates.. no deal! MOST all states allow several days for transport after purchase before a tag has to be displayed...

He can get insurance in is name w/ the VIN. He can also cash his "bank check" and hand you the full amt, you hand him the keys and title, and go home w/ your brother... done deal.. As is/where is.
BTDT!!

 

[turbojimmy]

Thanks all for the replies.

The deal with the guy in Philly fell through - said he couldn't get his financing together.

Today a couple showed up with cash. SOLD! The used car market is rough with the manufacturers giving the new cars away, but I made out okay. My brother drove the truck to their place about 45 mins away and I took my tags and headed home. Nice people and they had cash. Couldn't have gone any better.

Jim