Tom/99

piper

I think cash is the best way if you have in laying around. If you take more than 10,000.00 out of the bank at one time you have been reported to the government

tentuna

Agreed, bought my 66 using wire transfers, bank to bank no chance for fraud and a very good tansction trail, which may be a down side.

64tux

They'll think it's drug money (goverment) over a certain amount they want your s.s. no. to deposit it.

kenba

If the buyer & seller are not going to meet. I beleave the best way for both is bank to bank. You give the title to your bank. They let the sellers bank know & they wire the money to them & your bank sends the title to the buyers bank. I should cost nothing & both buyer & seller are covered
KEN

abe g

To: Jamm -- Fed requires banks to write paper info on all cash transactions over $9000. nuff said, Abe G

GCD1962

Most banks already have your ss #. It's a requirement to open a new account

dyadon

I bought my car from a guy in Hawaii (I'm in Sothern California). We used www.escrow.com. This is the company recommended by e-bay. I found the process very easy and the fees were about 1%. The problem with wire transfers is that if offers no security for the buyer. If I were buying the car I would not wire a large sum of money without the car because once that wire is sent there is no way to get it back!

Go to the ecrow.com site and check it out. The buyer has to wire all funds into the escrow company. You then ship the car (however that is arranged) and provide a tracking number. Once the buyer gets the car, he has an inspection period to verify it is as described. If he accepts the car, the funds get released and deposited directly into you account. If, after receiving the car, he fails to respond and falls off the face of the earth, the funds get deposited into your account. If he decides he doesn't want the car he has to send it back to you with a shipping number (at his expense). Once you receive the car, the money gets returned to the buyer. If he fails to do that, you get the funds. Worst case scenerio, he sends the car back at his expense and you are not out a dime!

This program really protects both the buyer and seller and I was VERY satisfied with it. Being the buyer, I was able to sleep at night and wasn't worried that I shipped alot of money to someone that could just dissappear and never deliver the car. The seller knew that there was no way for me to get the money out of escrow unless I shipped it back to him. This is the only way I would do a long distance transaction where the buyer and seller never come together with cash and car.

Good luck! Let us know haw ot turns out.

wallemon

Excellent advice.

wallemon

You too Neville.

By the way, NICE CAR!

Red64RoadsterMike

I was paid cash when I sold my C3. Made me very nervous carrying that kind of money. Sold the car at the Auburn Labor Day festival and had to keep it until the bank opened on Tuesday morning. I think a transfer bank to bank would be the way to go.

My 2 cents.

Regards, Mike

philip964

Here are Craigs lists "rules"

"You can sidestep would-be scammers by following these common-sense rules:

1. DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON - follow this one simple rule and you will avoid 99% of the scam attempts on craigslist.

2. NEVER WIRE FUNDS VIA WESTERN UNION, MONEYGRAM or any other wire service - anyone who asks you to do so is a scammer.

3. FAKE CASHIER CHECKS & MONEY ORDERS ARE COMMON, and BANKS WILL CASH THEM AND THEN HOLD YOU RESPONSIBLE when the fake is discovered weeks later.

4. NEVER GIVE OUT FINANCIAL INFORMATION (bank account number, social security number, eBay/PayPal info, etc.)

5. AVOID DEALS INVOLVING SHIPPING OR ESCROW SERVICES and know that ONLY A SCAMMER WILL "GUARANTEE" YOUR TRANSACTION. "

Even though several people above have recommended escrow services, I have heard that all escrow services on the web are scams. I have been advised to avoid them regardless of recomendations from others. I have also heard that there are several fake web escrow rating services, designed to make scam services look legit. Craigs list suggests avoiding escrow services.

A cashiers check can be verified on the phone. However you must not call the number listed on the check. You call long distance information for the number of the bank printed on the check. If its Wells Fargo that one thing if its Bob's Bank that maybe another thing altogether. The bank should have a record of the cashiers check number and should be able to verify the amount and the purchaser. They should be also able to verify that the buyer has an account at the bank.

However,

If I am buying the car. I am going to bring the cashiers check myself in person (yeah I will fly across country to do this) and I will want to make the transaction at a branch of my bank in your town. After I hand over the cashiers check or cash it and hand over the cash at the bank to you, I will want to leave with the car and the title.

If your buyer does not care and just sends you a cashiers check and is just hoping your honest, to me that is reason to question the whole thing. Remember Craigs list item one and three at the top of the page.

I cant imagine buying a C2 Corvette and not doing it in person, to me, it makes no sense.

Also, remember credit cards and paypal payments can be reversed down the road and there is little you can do about it.

Wiring it to an account you just set up sounds like a good idea, if you are the seller, but if I am the buyer I have to rely on you being honest, so again I am coming in person.

In addition, when you open a bank account you agree to reimburse the bank for any losses it suffers on your behalf. Banks have the authority to remove money from your savings account to reimburse them for losses suffered in some checking account you just opened, but have no money in. Yes, you may say its fraud, but in the end you will take the hit for the fraud not the bank.

Only time I have sold a car, I put out the clean title and keys on the table, the seller counted out the cash and I signed it over.

Good luck.