How and when do you hand over the title and keys, when the buyer is:
- paying in cash?
- paying with certified funds?
- is getting a loan, like from a credit union, and the lean holder will keep the title?
Thanks for your input and experiences!
How and when do you hand over the title and keys, when the buyer is:
- paying in cash?
- paying with certified funds?
- is getting a loan, like from a credit union, and the lean holder will keep the title?
Thanks for your input and experiences!
Do it at their Bank so you can verify funds on the spot.
Yep!Quote:
Originally Posted by Irving
ETA: For smaller transactions (up to a couple hundred dollars), it's cash only and I always use a counterfeit light and pen.
Just sold my '89 Toyota truck today. In this case, I'm not worried about taking a cashiers check since it's a dad buying it for his son; we met in person this morning and I'm sure it's all good. Otherwise, I'd do as suggested above.
We'll meet on Monday at the DMV to do the title transfer. I have to keep my plates and he needs to show proof of insurance to register it and get new plates. Nice kid but I don't want any 16-year-old driving a vehicle with my plates even if I have a bill of sale.
PS now think I priced it too low. Put it on Craigslist 4 days ago and had over a dozen serious buyers interested, plus several lowballers. Didn't have to negotiate price at all. But happy it's going to someone who will appreciate and maintain it...should be good for another 20 years.
Never, ever, ever let somebody use your plates "just to get it home".
I dodged a felony robbery rap when I was naive and let the plates go with a Buick Regal I sold to a dirtbag. He gave me a sob story on how he couldn't afford the plates until next payday and I stupidly fell for it.
Dirtbag robbed a King Soopers (Edgewater) a week after I sold it to him.
It was an anxious couple of minutes when Edgewater and Denver PD knocked on the door.
Thank God I had a signed and dated Bill of Sale and did not match the description of the party ID'd as the perpetrator.
When I sold my S10, they went to get cash, and while they were gone I removed the license plates, registration and other personal stuff from the truck, and dug out the title. They handed me the cash, I counted it out and when I confirmed it, I signed the title and handed it and the keys over to them.
If they're using a check, meet at their bank to verify the funds are available (and cash it there).
If getting a bank loan, meet at that bank and the title goes to them.
When I bought my Blazer we did a simple transfer at the bank...he got a cashiers check and I got a signed title and the keys.
I figure if something extra hinky went on the bank would have the footage.
Same. Let the other party watch you order the check. Once the teller was printing it, he signed title, we exchanged paper and called AAA to get it added to insurance. If you buy on the weekend you have until Monday to register.Quote:
Originally Posted by bradbn4
1: NO Test rides w/out payment in hand and a D.L to hold. Or i take a test ride with them.
2: They decide to buy it, plates off along with any paperwork which was already removed.
3: Call to Ins co to remove vehicle from policy
4: cash transaction or we go to bank for their payment.
Same.Quote:
Originally Posted by Great-Kazoo
I also CCW during the entire transaction and try to time it so I can immediately deposit cash at credit union.