uh oh, now what

-
rod7515

rod7515

Well-Known Member
Joined
Jul 18, 2013
Messages
1,747
Reaction score
595
Location
Red Lion PA
Some of us have those wives that are always thinking we have to many toys. Ok maybe its just me. Anyway she is always telling me I need to sell some of my cars. So every winter I put my Vette on craigslist for a ridiculous price and tell her I'm trying to sell it. Been doing this for at least 4 years now. Well for some reason this year I've got a lot of interest on it. And tomorrow morning there's a guy coming from out of state to actually look at it. Now I would sell it for the price it's listed at but I wasn't expecting this. I didn't clean it up at all from sitting since November.
I've already told him I am not flexible on price at all so if he doesn't want to pay my asking price he is wasting his time looking. I also told him there would be no test drive because of salt on the roads and if the weather is wet the car doesn't come out of the garage.
He's still coming!
Now maybe he won't show which is alright by me but should he be a serious buyer how would you accept payment, Bank Certified check? Cash another method? I'm thinking i would hold the title until I the money is verified and clears. Is that fair? Is there a definite safe method to use to be sure I am good to go?
Thanks Rod
 
Cash rules in my world. Short of that, release neither car nor title until funds clear your bank, period.
 
rod7515 said:
Some of us have those wives that are always thinking we have to many toys. Ok maybe its just me. Anyway she is always telling me I need to sell some of my cars. So every winter I put my Vette on craigslist for a ridiculous price and tell her I'm trying to sell it. Been doing this for at least 4 years now. Well for some reason this year I've got a lot of interest on it. And tomorrow morning there's a guy coming from out of state to actually look at it. Now I would sell it for the price it's listed at but I wasn't expecting this. I didn't clean it up at all from sitting since November.
I've already told him I am not flexible on price at all so if he doesn't want to pay my asking price he is wasting his time looking. I also told him there would be no test drive because of salt on the roads and if the weather is wet the car doesn't come out of the garage.
He's still coming!
Now maybe he won't show which is alright by me but should he be a serious buyer how would you accept payment, Bank Certified check? Cash another method? I'm thinking i would hold the title until I the money is verified and clears. Is that fair? Is there a definite safe method to use to be sure I am good to go?
Thanks Rod
Click to expand...


Don't let that vehicle go till you get the cash. No cash no vehicle no cash no title.

They can cry and whine all they want. If you don't get the cash don't let that vehicle go.
If they want to give you a check or money order or any of that other crap. tell him it's not going anywhere until you have the cash in your hand.
Yes then if they tell you that you can take their check and they will come back for the car. Watch out for the old oh I'll write you a check with a few extra hundred so that I can get gas money from you to get back home trick.

if they try something like, that have him get in your car, telling him your taking him down to the bank to make the deposit and withdrawal But take him to the cop station instead.
 
Last edited:
Wire transfer into a new bank account. Once the money clears, it's all theirs.

It's easy to open a new account at the bank and by using it you keep all your other accounts disconnected from it. You can transfer the money between your accounts later.
 
One safe way is to surrender the title to your bank and they will only release the title to the new owner after the bank has received payment in full into your account. This way there's no issues between you and the buyer it's all on the bank(s).

Or cash!!!

treblig
 
If he decides he wants it, set up a time to meet at your bank. You bring the title, he brings the cash.

Make the swap, and buy another Mopar...err, give your wife the proceeds!!
 
Cash.....and no offense meant, but your wife should mind her own business.
 
Ddaddy said:
Wire transfer into a new bank account. Once the money clears, it's all theirs.

It's easy to open a new account at the bank and by using it you keep all your other accounts disconnected from it. You can transfer the money between your accounts later.
Click to expand...

I’m not sure how much you are selling your Vette for but if it’s a high number then a lot of times people will prefer not to have the cash on them. My dad sold a 65 fastback mustang for a fairly high number to a fella in Australia. He is always a cash only guy but he offer was too good to refuse so he did exactly this.

Once the money was deposited into the account specifically for this he pulled the money out and shut down the account and deposited it into his normal account. Then the buyer got the title.
 
doogievlg said:
I’m not sure how much you are selling your Vette for but if it’s a high number then a lot of times people will prefer not to have the cash on them. My dad sold a 65 fastback mustang for a fairly high number to a fella in Australia. He is always a cash only guy but he offer was too good to refuse so he did exactly this.

Once the money was deposited into the account specifically for this he pulled the money out and shut down the account and deposited it into his normal account. Then the buyer got the title.
Click to expand...

Screw them. It's his car. If they want it, they need to deal on his terms. Whether he wants cash, check, BJ or whatever.
 
These days even cash can be fairly easily counterfeited, and those dye pens don't mean ****. THERE IS NO WAY that I'd accept that kind of cash money without taking it to a bank and having it inspected
 
Not a big deal for them to write a check if they bank with a national bank. Meet at a local branch of their bank get the cash, a signed release of liability/bill of sale , notary on staff etc.
 
67Dart273 said:
These days even cash can be fairly easily counterfeited, and those dye pens don't mean ****. THERE IS NO WAY that I'd accept that kind of cash money without taking it to a bank and having it inspected
Click to expand...

I sold a four wheeler once for $4000 cash but ended up getting $3700 for it because the bank confiscated three of the bills saying that they were fake. I got into a big pissing match with the buyer because "those are the bills that his bank gave him". My only final dig was to tell him that I gave his name and information to my bank so that they could give it to the treasury department. Of course, I never heard anything back.

Get a certified bank check and go deposit it in your bank. Your bank will call and verify that the funds are there, and once deposited, you can release the title. CASH is not king on big ticket items.
 
Ddaddy said:
Wire transfer into a new bank account. Once the money clears, it's all theirs.

It's easy to open a new account at the bank and by using it you keep all your other accounts disconnected from it. You can transfer the money between your accounts later.
Click to expand...

That is correct. I have two accounts for this purpose. Funny thing is, the bank gave me a hard time when I did it! They did not want to do it. There is 28 dollars in the 2nd account right now. It is just to hold it open. If I sell something it goes into the 2nd account, then I transfer it to the primary.
 
Thanks for all the suggestions. Years ago I wanted to be a lawn tractor and the guy wouldnt accept cash because he had been burnt with counterfeit $100's in a previous deal. Since then I have been leary of this. Yes this will be a big ticket sale if this guy is real so I have to be careful. The title wont leave my possession until the money is in my bank for sure. I like the bank holding the title until funds are secured. I will talk to them about that and also a new account. Cash is good but I was already told that would be difficult for him to get that much cash. I just want to be very careful.
Thanks for all the suggestions.
Rod
 
Another bad thing with bringing over $10K in cash to the bank is you instantly draw federal attention.
I sold my vette this spring for the I don't want to sell it price, neighbor knocked on my door and said he had a friend that was interested, I told him the price and it was firm, the guy showed up within 45 minutes.
This was on a Sunday, so I said cash only, the guy showed up with the cash the next day.
Signed the title over to him, and he had it picked up on a roll back.

When I bought my wifes CJ-5 it was kinda spur of the moment over the week end thing.
The guy accepted a check for the full amount and gave me the title, but he kept the jeep until the check cleared the bank, then he delivered the jeep to me.
 
What bank does he use? Just meet him there and have him withdraw the cash. Have him give it to you in 10's no one counterfeits 10's....
 
You must log in or register to reply here.
-

Back
Top