NEED HELP: risks of selling a car private party on a Sunday (not kidding)
10-31-2008, 02:30 AM
#16
Three Wheelin'
How is he going to get temporary plates on a Sunday?
You aren't letting him use yours are you?
You aren't letting him use yours are you?
10-31-2008, 02:41 AM
#17
Three Wheelin'
Alex,
As I reflect on this I got to tell you it smells fishy. If I were doing this scam I'd play it just like this guy is, find the seller of a car that's hard to sell, change the appointment a couple of times to make you more anxious and show you how busy I am, then stiff you with a bad check. My guess is if you float the send a copy of the check idea he'll either fade or purposely send it to you late so you can't get it to the bank. Keep your antenna up, this one looks suspicious. I do hope I'm wrong though. I agree with the suggestion that to be safe you should have a couple of other people with you when he shows up.
As I reflect on this I got to tell you it smells fishy. If I were doing this scam I'd play it just like this guy is, find the seller of a car that's hard to sell, change the appointment a couple of times to make you more anxious and show you how busy I am, then stiff you with a bad check. My guess is if you float the send a copy of the check idea he'll either fade or purposely send it to you late so you can't get it to the bank. Keep your antenna up, this one looks suspicious. I do hope I'm wrong though. I agree with the suggestion that to be safe you should have a couple of other people with you when he shows up.
10-31-2008, 03:08 AM
#18
Rennlist Member
Never accept cash. This is something I learned many years ago when a resident manager for one of our apartment buildings accepted cash and subsequently was robbed (by guess who)... They'll take the car, your money, and you'll have soiled your pants, or worse. The only times I deal with cash, it is done in front of a teller at the bank.
We have to be on the defensive these days, unfortunately. I recently had an interested buyer for my 993 contact me through Craigslist. I asked him, on three occassions, for his name & a contact number so that we could discuss, and so that I knew who I was dealing with. The red flag moment for me was: his name did not appear in his email "reply-to" address. Of course, I have not heard back...
Just be careful.
We have to be on the defensive these days, unfortunately. I recently had an interested buyer for my 993 contact me through Craigslist. I asked him, on three occassions, for his name & a contact number so that we could discuss, and so that I knew who I was dealing with. The red flag moment for me was: his name did not appear in his email "reply-to" address. Of course, I have not heard back...
Just be careful.
10-31-2008, 08:10 AM
#19
Burning Brakes
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Get him to wire you the cash first. Once you sight the cash you'll give him the car, keys and title.
Or, do this on a business day, and get the cash into your account then and there (bankers draft, wire, transfer or other). Once your bank sees the cash in your account, then and only then give the car.
If he's too busy to meet you, perhaps you can drive to him duing the week for him to inspect, and or drop the car off. Just get the money first my friend.
Too many scammers. Any honest person will understand your concern.
GL
Or, do this on a business day, and get the cash into your account then and there (bankers draft, wire, transfer or other). Once your bank sees the cash in your account, then and only then give the car.
If he's too busy to meet you, perhaps you can drive to him duing the week for him to inspect, and or drop the car off. Just get the money first my friend.
Too many scammers. Any honest person will understand your concern.
GL
10-31-2008, 09:58 AM
#20
Rennlist Member
Folks, he need not have the bank check on the buyer's finances. Once a valid Cashier's Check is issued by a bank, it's good. It takes an a veritable "act of congress" to nullify one. I know of only one instance and it was because of gross misrepresentation by the seller. All you need do is have the branch bank assure that Wells Fargo has issued that cashier's check number and amount to ensure that it's valid.
10-31-2008, 10:18 AM
#21
Burning Brakes
Inst this what an Escrow account is for?
there are some reputable Escrow places out there. Have him deposit the $ in the account pending the transaction
if all goes well, he drives away and you get your $. if not, he drives away and he gets his money back.
If hes not willing to come up on a day the bank is open I suggest he pays the Escrow fees
there are some reputable Escrow places out there. Have him deposit the $ in the account pending the transaction
if all goes well, he drives away and you get your $. if not, he drives away and he gets his money back.
If hes not willing to come up on a day the bank is open I suggest he pays the Escrow fees
10-31-2008, 10:43 AM
#22
Wallflower
Rennlist Member
Rennlist Member
When purchasing or selling a private sale vehicle, both want a smooth "legit transaction and a good experience". When I was purchasing side my GT3, I offered to the seller (who was across the country)a copy of the cashiers check. By offering this, it accomplished two things.
1. Good faith
2. Gave him the ability to take this copy of the cashiers check to that bank to verify check was good.
So by the time I landed to finalize the deal both parties felt protected, then all we had to do was trade the original cashiers check (of course matched the forwarded copy) for the keys.
If this guy is legit:
1. He should understand for both of you to be comfortable with the logistics of the transaction.
2. He would of already had to draw this check from the bank before Sunday and therefore could offer you a copy at the very least prior to your final transaction.
Hope this helps.
1. Good faith
2. Gave him the ability to take this copy of the cashiers check to that bank to verify check was good.
So by the time I landed to finalize the deal both parties felt protected, then all we had to do was trade the original cashiers check (of course matched the forwarded copy) for the keys.
If this guy is legit:
1. He should understand for both of you to be comfortable with the logistics of the transaction.
2. He would of already had to draw this check from the bank before Sunday and therefore could offer you a copy at the very least prior to your final transaction.
Hope this helps.
10-31-2008, 11:38 AM
#24
Rennlist Member
I prefer cash. God help anyone who tries to rob me at my house. Anytime I have met an unknown buyer at my house to finalize a transaction, I have my Glock in the waist of my pants.
I, too, I am trying to sell my SUV and have had a few suspicious people call up. I have met them at a public place. I worry about a cashier's check being counterfeit and don't know if I'm being overly paranoid. I know cash can be forged, as well, but I think it's much harder to do.
I, too, I am trying to sell my SUV and have had a few suspicious people call up. I have met them at a public place. I worry about a cashier's check being counterfeit and don't know if I'm being overly paranoid. I know cash can be forged, as well, but I think it's much harder to do.
10-31-2008, 12:09 PM
#25
Nordschleife Master
Don't do anything you are not comfortable with. If you have a funny feeling, trust your instincts. Better to be safe than sorry.
You can never be too careful.
You can never be too careful.
10-31-2008, 12:12 PM
#26
Rennlist Member
Find a Wells Fargo that IS open on Sunday...There are quite a few in my area...if it means you have to drive a bit to get to one...then its worth is...But..They do have branches open on Sundays.
10-31-2008, 12:52 PM
#27
Drifting
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Finally, I also like option 2: mail the signed title once the cashier's check clears. That seems very reasonable to both sides.
10-31-2008, 02:39 PM
#28
Racer
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Don't know how things work in CA, but here in NY you NEVER let the buyer use
your plates. And in NY you should always scrape the windshield registration
sticker off as well.
This is the reason:
If the seller should get into an accident with your plates, you are still liable.
You are still listed as the owner of the car until that title has been legally
transferred via the DMV when the new owner registers the car.
If it's a bad accident with injuries or a death, you could be sued beyond what
your insurance covers.
Plus, in NY, DMV holds you responsible for the plates. Failure to turn them in
would eventually result in you not being able to renew your Driver's License
or register a car.
--Chuck--
your plates. And in NY you should always scrape the windshield registration
sticker off as well.
This is the reason:
If the seller should get into an accident with your plates, you are still liable.
You are still listed as the owner of the car until that title has been legally
transferred via the DMV when the new owner registers the car.
If it's a bad accident with injuries or a death, you could be sued beyond what
your insurance covers.
Plus, in NY, DMV holds you responsible for the plates. Failure to turn them in
would eventually result in you not being able to renew your Driver's License
or register a car.
--Chuck--
10-31-2008, 02:39 PM
#29
Pro
Thread Starter
I disagree that Sunday is neccessarily a scam tactic. People work. I've bought and sold tons of cars on Sundays and after hours, but usually for under $5K. I just sold my OJ Bronco to somebody that handed me an envelope with $3,700 cash.
Sorry I neglected to mention this earlier, but the Wells in the Vons grocery near me is open Sundays. Check the Wells site for locations near you.
Finally, I also like option 2: mail the signed title once the cashier's check clears. That seems very reasonable to both sides.
Sorry I neglected to mention this earlier, but the Wells in the Vons grocery near me is open Sundays. Check the Wells site for locations near you.
Finally, I also like option 2: mail the signed title once the cashier's check clears. That seems very reasonable to both sides.
Thank you for that suggestion (and Damien Lewis who made the same suggestion) - I checked Wells Fargo's website and there is a branch that is open on Sunday near my house - it's just one I never go to and hadn't thought of.
I really appreciate all the responses that I have gotten on this. For some of the suggestions, like opening an escrow account I don't think there is enough time for this transaction, but they are good nonetheless.
I am glad to find that I am not the only one with angst about selling a vehicle. Every so often a thread about buying / selling logistics pops up on RL and hopefully this one will help someone in the future.
10-31-2008, 02:41 PM
#30
Rennlist Member
I did a cash deal when I sold my 964. Not my idea but I was OK with it.
Not a problem... you just have to plan for contingencies if things seem "odd".
BTW, the buyer is/was a great guy. Nothing smelled fishy throughout the deal... and I knew it was all good when he said "isn't it wierd having all of this cash on the table?" I said "yup, I was just thinking the same thing"
Anyhow, it really is as simple as getting a copy of the check prior, call the bank to verify, do the transaction on Sunday.
No matter what you do you still sweat a little until that check clears many days later