Selling your vehicle can be time consuming. It can also be dangerous unless you are very careful. If you're trading the auto in for a newer model, the details of any transaction will be the primary responsibility of the dealer. If you've decided to sell your car for cash, all the responsibility will be on your shoulders.
Unless you are living in a rural area of the country where everybody knows their neighbors, there's a good chance most of the people who respond to your ad about a vehicle for sale are going to be strangers. If this is the case, it's important to take precautions to ensure you stay safe. Don't meet strangers in private places for one thing.
Be sure to get a copy of the driver's license of anyone you let test drive the vehicle. Have a bill of sale with all the pertinent information included. That includes the fact that you are selling the vehicle as is.
Don't get talked into taking a personal check unless you keep the title in your possession until that check clears the bank. Cashier's checks can also be risky. People can forge those just like they do with personal checks. Accepting cash only is the surest way to know you're getting paid. Taking a significant sum of money can be risky too though. If someone robs you, or you lose the money, you don't have any recourse.
You can ask the individual buying the vehicle to meet you at his bank to complete the transaction. That way you can take his personal check and turn around and get a legitimate cashier's check made out to you. You can deposit the cashier's check into your own account and have the funds available in a day or two. You should pay for the transaction fee because this is being done for your convenience.
You might request that the buyer meet you where you bank with the cash in hand. That money can be deposited directly into your account. You need to have all the paperwork ready to turn over at that time. For safety's sake you probably need to ask a bank officer if you can use a private room, away from prying eyes, where you and the buyer can exchange the papers and the money. Most bank officials are happy to let you use a conference room or an out of the way desk that gives you privacy.
Both of these options can be inconvenient for you as the seller, and the buyer, because the transaction has to take place during regular business hours. You can overcome this obstacle by opening a small account at a bank branch in a local supermarket or big box store. These branches usually have extended hours, and are good options because they're in public places and have security cameras.
If you're selling to someone out of town and shipping the car, you may need to use an online escrow service. These services will accept the payment for you, hold the funds until they clear, and then disperse them. You get the funds as soon as the buyer accepts the vehicle.
Unless you are living in a rural area of the country where everybody knows their neighbors, there's a good chance most of the people who respond to your ad about a vehicle for sale are going to be strangers. If this is the case, it's important to take precautions to ensure you stay safe. Don't meet strangers in private places for one thing.
Be sure to get a copy of the driver's license of anyone you let test drive the vehicle. Have a bill of sale with all the pertinent information included. That includes the fact that you are selling the vehicle as is.
Don't get talked into taking a personal check unless you keep the title in your possession until that check clears the bank. Cashier's checks can also be risky. People can forge those just like they do with personal checks. Accepting cash only is the surest way to know you're getting paid. Taking a significant sum of money can be risky too though. If someone robs you, or you lose the money, you don't have any recourse.
You can ask the individual buying the vehicle to meet you at his bank to complete the transaction. That way you can take his personal check and turn around and get a legitimate cashier's check made out to you. You can deposit the cashier's check into your own account and have the funds available in a day or two. You should pay for the transaction fee because this is being done for your convenience.
You might request that the buyer meet you where you bank with the cash in hand. That money can be deposited directly into your account. You need to have all the paperwork ready to turn over at that time. For safety's sake you probably need to ask a bank officer if you can use a private room, away from prying eyes, where you and the buyer can exchange the papers and the money. Most bank officials are happy to let you use a conference room or an out of the way desk that gives you privacy.
Both of these options can be inconvenient for you as the seller, and the buyer, because the transaction has to take place during regular business hours. You can overcome this obstacle by opening a small account at a bank branch in a local supermarket or big box store. These branches usually have extended hours, and are good options because they're in public places and have security cameras.
If you're selling to someone out of town and shipping the car, you may need to use an online escrow service. These services will accept the payment for you, hold the funds until they clear, and then disperse them. You get the funds as soon as the buyer accepts the vehicle.
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