MTFCA Forum

Wondering how some of you are handling selling vehicles these days especially to someone out of state? I would like to hear suggestions on the safe methods and or tools you might have used with success. What banking services have you used?

thank you in advance.

Mark, I sold my model A on eBay and my '20 runabout the same way Altho I listed it on another internet site also. Both sales I handled payment via electronic fund transfers. Thats the safest. Both buyers were content to buy them sight unseen as I provided tons of pics and had several discussions with the buyer. I think the EFT method of payment is by far the safest if the buyer is willing. Or perhaps partial payment via EFT with the rest in good old cash! And you should always provide the buyer with a bill of sale even if you do have a clear title to provide him/her. Keep a copy of both the B.O.S. and title for yourself. Hope this helps.

Angmar wrote: ↑

Fri Jun 14, 2019 3:39 pm

Wondering how some of you are handling selling vehicles these days especially to someone out of state? I would like to hear suggestions on the safe methods and or tools you might have used with success. What banking services have you used?

thank you in advance.

If you are offering any car for sale outside of your immediate area - offer to store it in writing at no additional cost
for a minimum of (6) to (8) weeks - state you are not responsible for loss or damage ( you are storing as a courtesy ).

Bank wire transfer is cheapest - safest - gives you a record of who is sending & receiving funds.

Execute title - fill out name & address of Buyer as required - notarize if necessary.

Make a copy front and back.

Send the title - bill of sale after receiving full payment by overnight/express mail with signature required.

Take pictures and/or video at pick up while vehicle is being loaded showing condition.


FJ

HEY!! Isnt that MY old '20 there Jim? Sure is a nice looking car eh?

Bought and sold cars of the internet this year
Money transfer wire transfer to a savings account that is just that this account has no links to any other accounts hassle free both ways just had go bank each time
Bought the car got it home feel happy as the seller was honest
The other car had many issues (mechanical) but are corrected now
This car was sold online yet car money and title are still here with me just hard when you got stuff coming and going all the time
Hoping buyer gets it or has it shipped in next few weeks
But since im holding everything im not complaining much.
To buy or sell communication and pics/ info is key
Lay your terms out and agree and hope both parties are fare in transaction

Sold several cars at Hershey. Cash before title transfer is the easiest. If I couldn't get cash, I used a bank transfer but I didn't want to use an existing bank account. I contacted my financial advisor and they set up a unique account for transfers (to be used anytime I needed to do this) and when the funds arrived I would immediately transfer out of that account. They called me at Hershey and I transferred the title. Worked for me and was simple. If you used a bank, they usually are difficult to communicate with and are not willing to react on the spot. The transfer only took several hours in my case because the folks at my end were ready to do it.

Sold several cars at Hershey. Cash before title transfer is the easiest. If I couldn't get cash, I used a bank transfer but I didn't want to use an existing bank account. I contacted my financial advisor and they set up a unique account for transfers (to be used anytime I needed to do this) and when the funds arrived I would immediately transfer out of that account. They called me at Hershey and I transferred the title. Worked for me and was simple. If you used a bank, they usually are difficult to communicate with and are not willing to react on the spot. The transfer only took several hours in my case because the folks at my end were ready to do it.

Thank you everyone.