doctorttt

I'm from New York City. I have a 2006 Red Lexus IS350 6200 miles with sports package for sale. The car is already paid off, and it's in very good condition. I want to sell it privately, but I don't have any experience in the past doing it. What kind of things I should be aware of? People told me that

1) If the buyer doesn't have money, he/she needs to borrow money from a bank, and I should get the $ from the bank for security reason on my end.

2) If they do have cash (Hard to find anyone with $2x,xxx cash nowadays), I require the buyer to get a certified bank check. Again, it's for security reason on my end.

Can someone share your experience?

Vincent123

iTrader: (24)

wrong section

Stokdgs

People do this scam all the time, apparently. I would insist on a bank wire transfer from their bank to yours, at your bank, so that your bank manager can verify the funds are wired to your account, before you sign over the title to them.. Someone is going to have to trust someone, it has to be you, since you have the car and they want to buy it. If they have a problem with this arrangement, well you have to wonder why, right ??

Be careful of anyone coming to your house - they may be "shopping" for other stuff to take later..

Unless you feel really good about the person/s, who want to buy the car, dont sell. Rely on your gut feeling about this particular deal working or not.

Absolutely never, never, never, let anyone drive it without you being in there with them, and if its more than one of them, insist that they sit in front, and you in back alone.

If they come looking all wrong to the neutral designated place to see it, they look high, or heavily into something that is not appropriate in your mind, go away quickly, dont worry about offending anyone, just leave..

If possible take a large friend with you to equal things out..

Used to be you didnt have to worry about stuff like this, but now unfortunately, you may have to.

Remember, trust your first instincts, if they look or make your feel uncomfortable, get out with your car now.

Have you thought about selling it to a CarMax place or something like that ?

Good luck, hope it all works way easy and you get what you want for your car. DanF

BounceNY

iTrader: (9)

Never thought of that...haha...good idea though!

I would also agree to try and see what carmax would offer you first. If not happy then go the private route.

RolxuSC400

Couple of other things I found out that a Cashiers Check payment can be stopped. I think Certified Check is way to go but ask your bank to verify.

You can always withhold the title until the funds "clear" your bank as well making sure this is documented in writing. Along that thought, ALWAYS also prepare a Bill of Sale it protects you in the long run against unscrupulous buyers and limits your liability.

Carmax is an option but you will likely do better selling it yourself if you can. Keep in mind Carmax will issue a "bank check" you cannot "cash" this check. The check is required to cure for a period of 3-10 days depending on your bank.

Pearlpower

iTrader: (2)

Only two ways that I will deal.

One-wire transfer if distant. Then ship car and send title via FedEx

Local: Get cash or a cashiers check , NOT a bank check which can be stopped. Call bank to verify check. Then process title.

pingu

Isn't this the wrong forum.