Note: i tried extensively to search for info on this topic but was unable to find much info.


Can we discuss good ways to pay for/and or sell a car? Of course i'm referring to private sales on used cars not new ones from dealers etc.


i have always paid cash for cars since none of them were above $3000. But i may have to "move up" soon and i'm not real comfortable with the idea of carrying several thousand dollars with me.

Thats why they make cashiers checks. Know how much and too whom.. Get it and make the swap. No one else can touch the check without the right id.

Meet the person IN the bank or DMV. Thats if Bruno is not available:D You can also wire the money to them.

Thats why they make cashiers checks. Know how much and too whom.. Get it and make the swap. No one else can touch the check without the right id.

Sorry, cashiers checks can now have "Stop Payments" put on them. I had this happen a few years back.

Also, there is deep fraud with fake cashiers checks out there (google nigerian scam)

The only way to go with high dollar cars is a wire transfer if you are the seller, or good old cash.


Rich

certified bank check so that when the person selling the vehicle recieves the check he/she must sign for it and you get the receipt.

Get a loan check from your bank, and once the check is cashed, pay it off with your funds. Sounds pretty safe to me. I've never had a problem.

Puff, the magic dragon!:thumbsup::beers:

If I'm selling a car, I'm accepting nothing other than cash - no cashiers checks, no certified checks - just cold, hard cash, either greenbacks or a wire transfer. And if it's a wire transfer, it goes into a "dry" account and gets transferred out immediately.

If possible, I offer to meet the buyer at HIS bank. I will only then accept a cashiers check. Cash is always king in all other situations.