Method of payment?
Thread Starter
Drifting
Joined: Oct 2005
Posts: 1,507
Likes: 7
From: Palmetto FL
St. Jude Donor '07
Method of payment?
I may have a buyer for my vette and I was wondering if there is a preferred method of payment for a large sum of money, besides cash?
Thanks in advance.
Thanks in advance.
Last edited by Z06HPISFUN; Mar 27, 2008 at 07:02 AM.
Race Director
Joined: Jul 2004
Posts: 16,795
Likes: 62
From: Lake Havasu City, AZ
Wire transfer...
The issue is there have been people stung on both counterfeit certified checks and cashier's checks...
i.e. the check blank is phony...everything looks legit until your bank tries to clear it through the system...
The other way is to plan to do the deal at your bank during banking hours when both your bank ans his are open. They bring certified check or cashier's check that your bank calls to verify is legit....
There is still some room for fraud.. if the number they give you for their bank is not the bank but an accomplice.
If they have an account in a branch of the Bank you do business with then they can transfer the funds on the spot....
In most cases it comes down to some amount of trust.....
The issue is there have been people stung on both counterfeit certified checks and cashier's checks...
i.e. the check blank is phony...everything looks legit until your bank tries to clear it through the system...
The other way is to plan to do the deal at your bank during banking hours when both your bank ans his are open. They bring certified check or cashier's check that your bank calls to verify is legit....
There is still some room for fraud.. if the number they give you for their bank is not the bank but an accomplice.
If they have an account in a branch of the Bank you do business with then they can transfer the funds on the spot....
In most cases it comes down to some amount of trust.....
Team Owner
Joined: May 2007
Posts: 33,498
Likes: 19
From: Sarasota Fl. U.S.A.
St. Jude Donor '09-'10-'11-'12-'13-'14-'15-'16-'17
When I bought my z I took a certified check from my bank, the car was about 3 hours away.. When we went to the seller's bank the lady asked me who to talk to at my bank... Did not ask me for a phone number, guess she looked it up are something she talked to my bank in front of us both deal went down and I drove that BAD BOY home..
I miss spoke sound familiar.... I did use a cashier's check....
I miss spoke sound familiar.... I did use a cashier's check....
Last edited by jmc12; Mar 27, 2008 at 08:51 AM.
Thread Starter
Drifting
Joined: Oct 2005
Posts: 1,507
Likes: 7
From: Palmetto FL
St. Jude Donor '07
Wire transfer...
The issue is there have been people stung on both counterfeit certified checks and cashier's checks...
i.e. the check blank is phony...everything looks legit until your bank tries to clear it through the system...
The other way is to plan to do the deal at your bank during banking hours when both your bank ans his are open. They bring certified check or cashier's check that your bank calls to verify is legit....
There is still some room for fraud.. if the number they give you for their bank is not the bank but an accomplice.
If they have an account in a branch of the Bank you do business with then they can transfer the funds on the spot....
In most cases it comes down to some amount of trust.....
The issue is there have been people stung on both counterfeit certified checks and cashier's checks...
i.e. the check blank is phony...everything looks legit until your bank tries to clear it through the system...
The other way is to plan to do the deal at your bank during banking hours when both your bank ans his are open. They bring certified check or cashier's check that your bank calls to verify is legit....
There is still some room for fraud.. if the number they give you for their bank is not the bank but an accomplice.
If they have an account in a branch of the Bank you do business with then they can transfer the funds on the spot....
In most cases it comes down to some amount of trust.....
The guy who is interested in my car appears to be a stand up guy, so I'm going to feel a bit awkard going through the "bank dna" routine, but it is what it is.
Team Owner
Joined: May 2006
Posts: 21,473
Likes: 356
From: Palmdale, Ca----- 2009 Cyber Gray 4LT A6 F55 452 RWHP 422 RWTQ- RIP 1998 C5 734 RWHP & 585 RWTQ-----
Money order!
Cashiers Check is the best though!
It is already paid for and the bank will release it without delays!
Thanks,Matt
Cashiers Check is the best though!
It is already paid for and the bank will release it without delays!
Thanks,Matt
Safety Car
Joined: Aug 2006
Posts: 4,131
Likes: 2
From: "Never play games with a bitch who can play them better" NE PA
Cruise-In VIII & IX Veteran
St. Jude Donor '07-'08
Thread Starter
Drifting
Joined: Oct 2005
Posts: 1,507
Likes: 7
From: Palmetto FL
St. Jude Donor '07
I agree. 
I'm selling a bit under what I was asking but it's a win win situation. The potential buyer seems as excited as I was when I bought her and once my daughter's college financial obligations are met, I'll be looking again.
Here she is...
I'm selling a bit under what I was asking but it's a win win situation. The potential buyer seems as excited as I was when I bought her and once my daughter's college financial obligations are met, I'll be looking again.Here she is...
Last edited by Z06HPISFUN; Mar 27, 2008 at 09:03 AM.
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Race Director
Joined: May 2002
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Wire Transfer is the best or go to your bank during banking hours if you are a VIP "baller type"You need to have someone at the bank (OFFICER) that will make the check go into your account immediately otherwise it will take days and it might bounce on you.
Checks can all be counterfeited and some can even have a "STOP PAYMENT" put on them after they have your car.
Wire Transfer is how I buy my cars.
Last edited by xlr8nflorida; Mar 27, 2008 at 09:12 AM.
Le Mans Master
Joined: Oct 2004
Posts: 9,369
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From: Zephyrhills, Florida
St. Jude Donor '06-'07-'08-'09-'10-'11-'12-'13
Wire Transfer is the best or go to your bank during banking hours if you are a VIP "baller type"You need to have someone at the bank that will make the check go into your account immediately otherwise it will take a days and it might bounce on you.
Checks can all be counterfeited and some can even have a "STOP" put on them after they have your car.
Transfer financial institution to financial institution. Know your banker and they should give you the best advice.
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Personally I'd go with a wire transfer. Seems to be about the safest way to go.
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From: "It's 106 miles to Chicago, we've got a full tank of gas, half a pack of cigarettes, it's dark, and
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My buddy that buys and sells cars private party to private party fairly frequently prefers the wire transfer method, too. It seems to be the safest way.
Le Mans Master
Joined: Nov 2005
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From: Allentown PA & Elk Twp NJ HPDE Addict
Do a wire...that's a one way street from the sender to the receiving account...oh, and if you're concerned with providing your account and routing number to the buyer, just open another account just for the transaction, and close it after you've transferred the funds to your primary account
Thread Starter
Drifting
Joined: Oct 2005
Posts: 1,507
Likes: 7
From: Palmetto FL
St. Jude Donor '07
Do a wire...that's a one way street from the sender to the receiving account...oh, and if you're concerned with providing your account and routing number to the buyer, just open another account just for the transaction, and close it after you've transferred the funds to your primary account