How do you pay?
Burning Brakes
Joined: Nov 2010
Posts: 825
Likes: 66
From: Baltimore Md
I always close the deal at the bank... Usually I bring the seller to my bank when I get the check, then we go to theirs to deposit it and sign the title over, takes a bit of time, but makes both parties feel better, and gives me some extra time to get a feel for the previous owner of the car... Plus that way the whole transaction is on camera as well! Can never be too careful!
Tech Contributor
Joined: Aug 2008
Posts: 2,902
Likes: 21
From: Oak Hill Virginia
Le Mans Master
Joined: Jul 2009
Posts: 9,526
Likes: 12
From: Los Angeles California
Most of the answers here so far I agree with.
NEVER carry that much cash. That's just asking to be jumped. If you tell someone you'll buy it cash and they know you're coming with $20K, you're asking for them to rob you.
If they have the pink slip, you go to them to see the car. If you want to buy it, you have them follow you to the bank with the pink slip. At the bank you get a cashiers check for the price you agreed on. Then trade it for the pink slip AT the bank. Then follow them back to where the car is sitting and have a friend drive your current car home while you drive the new Vette home.
Simple.
The best part of this plan is it's easier to negotiate the price.
NEVER carry that much cash. That's just asking to be jumped. If you tell someone you'll buy it cash and they know you're coming with $20K, you're asking for them to rob you.
If they have the pink slip, you go to them to see the car. If you want to buy it, you have them follow you to the bank with the pink slip. At the bank you get a cashiers check for the price you agreed on. Then trade it for the pink slip AT the bank. Then follow them back to where the car is sitting and have a friend drive your current car home while you drive the new Vette home.
Simple.The best part of this plan is it's easier to negotiate the price.
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Race Director
Joined: Aug 2011
Posts: 10,779
Likes: 491
From: Shits Creek NY
Well if ur accompanied by "Mr. Colt", y r u even asking us??
All kidding aside, I think airbrush1's way is the best. In my opinion leaving a deposit is never a good idea whether buying privately or from a business (gives the seller leverage) unless its an absolute must have and finding another is almost nonexistent...Good luck n be safe...
All kidding aside, I think airbrush1's way is the best. In my opinion leaving a deposit is never a good idea whether buying privately or from a business (gives the seller leverage) unless its an absolute must have and finding another is almost nonexistent...Good luck n be safe...
Instructor
Joined: Sep 2011
Posts: 115
Likes: 0
From: MI
Whatever you do, don't fall for the stupid, "Oh the car is in a shipping container ready to ship to you if you are interested. Just give me the payment." 
or the famous, "Yeah, this is my buddy's car, he's going to Afghanistan to fight for his country so he asked me to sell it."
Amazing what scammers come up with these days.
When I got mine, I Carfax'd it, brought a certified check in the owner's name, met the actual owner of the car, test drove the car twice, made sure he had a title in hand. No wire transfer scammer BS for me.
or the famous, "Yeah, this is my buddy's car, he's going to Afghanistan to fight for his country so he asked me to sell it."
Amazing what scammers come up with these days.
When I got mine, I Carfax'd it, brought a certified check in the owner's name, met the actual owner of the car, test drove the car twice, made sure he had a title in hand. No wire transfer scammer BS for me.
Race Director
Joined: Apr 2005
Posts: 10,179
Likes: 2,306
From: Wesley Chapel, FL Las Vegas, NV
Different cases warrant different methods.
I will take cash (if my bank does not have an office local and open at the time I'm making the deal) if I want to use it as part of the negotiation. Say a guys wants $25k and I can say "I'll give you $20k cash right now". Amazing how "cash now" can compel a guy to accept your offer and it doesn't give him a chance to change his mind.
If I know the bank will be open I make the deal and have him follow me to the bank.
Other times if we have more or less made the deal (say for $25k) subject to seeing the car I take a cashiers check made out to him for $5k less then the agreed price and the balance in cash. Then when I see the car and negotiate a lower price for some reason (say $23k) I can give him the CC for $20k and $3k cash. This way I don't have to carry a ton of cash.
Years ago I would carry as much as $50k cash when flying cross country to make a deal but now with all the TSA BS I won't carry over $5k on a commercial flight.
I will take cash (if my bank does not have an office local and open at the time I'm making the deal) if I want to use it as part of the negotiation. Say a guys wants $25k and I can say "I'll give you $20k cash right now". Amazing how "cash now" can compel a guy to accept your offer and it doesn't give him a chance to change his mind.
If I know the bank will be open I make the deal and have him follow me to the bank.
Other times if we have more or less made the deal (say for $25k) subject to seeing the car I take a cashiers check made out to him for $5k less then the agreed price and the balance in cash. Then when I see the car and negotiate a lower price for some reason (say $23k) I can give him the CC for $20k and $3k cash. This way I don't have to carry a ton of cash.
Years ago I would carry as much as $50k cash when flying cross country to make a deal but now with all the TSA BS I won't carry over $5k on a commercial flight.
Thread Starter
Racer
Joined: Aug 2011
Posts: 297
Likes: 0
From: Sevierville TN
Different cases warrant different methods.
I will take cash (if my bank does not have an office local and open at the time I'm making the deal) if I want to use it as part of the negotiation. Say a guys wants $25k and I can say "I'll give you $20k cash right now". Amazing how "cash now" can compel a guy to accept your offer and it doesn't give him a chance to change his mind.
If I know the bank will be open I make the deal and have him follow me to the bank.
Other times if we have more or less made the deal (say for $25k) subject to seeing the car I take a cashiers check made out to him for $5k less then the agreed price and the balance in cash. Then when I see the car and negotiate a lower price for some reason (say $23k) I can give him the CC for $20k and $3k cash. This way I don't have to carry a ton of cash.
I will take cash (if my bank does not have an office local and open at the time I'm making the deal) if I want to use it as part of the negotiation. Say a guys wants $25k and I can say "I'll give you $20k cash right now". Amazing how "cash now" can compel a guy to accept your offer and it doesn't give him a chance to change his mind.
If I know the bank will be open I make the deal and have him follow me to the bank.
Other times if we have more or less made the deal (say for $25k) subject to seeing the car I take a cashiers check made out to him for $5k less then the agreed price and the balance in cash. Then when I see the car and negotiate a lower price for some reason (say $23k) I can give him the CC for $20k and $3k cash. This way I don't have to carry a ton of cash.
I like this approach! Yeah, I've always liked the "I have cash NOW!" negotiation but, the partial CC and the rest in cash makes a lot of sense.
Thanks,
Sonny
Race Director
Joined: Apr 2005
Posts: 10,179
Likes: 2,306
From: Wesley Chapel, FL Las Vegas, NV
Weirdest deal ever.
Last year I saw a 67 Camaro I liked advertised on a Sunday. Drove from Vegas to Socal, liked the car and made the deal for $26K.
Problem was this was Sunday evening and Monday was a holiday. I told him I could pull a couple Gs out the the ATM and wait til Tuesday to get the balance,
Seller said "No Problem you can just write me a personal check" Wrote the check, got the title and trailer-ed the Camaro home Monday morning.
Last year I saw a 67 Camaro I liked advertised on a Sunday. Drove from Vegas to Socal, liked the car and made the deal for $26K.
Problem was this was Sunday evening and Monday was a holiday. I told him I could pull a couple Gs out the the ATM and wait til Tuesday to get the balance,
Seller said "No Problem you can just write me a personal check" Wrote the check, got the title and trailer-ed the Camaro home Monday morning.
Tech Contributor
Joined: Dec 2006
Posts: 10,962
Likes: 29
From: Van Buren Arkansas
Wounded Warrior Escort '11
I think we're assuming he's doing all those things...but you are right that just in case, he should be reminded, which you've done. Good idea!
Racer
Joined: Nov 2009
Posts: 347
Likes: 1
From: Martinez GA
ccw is suppose to be plan b.....not a part of plan a
having been "leo" i always carry and keep my permits up to date but why, why would you put yourself in that situation??
and yes it happens all the time around here......masters tickets......during march it seems like every year you hear it on the news, yet another masters ticket scam ends in armed robbery
if you aren't familiar with the place take a friend (preferably corvette person also for another opinion on car), and have ccw as plan b. definitely do homework on car and make sure its legit and if it is the seller will be happy to have it sold and wait a day or week for a cashiers check from a national bank......i paid cash for mine only after i met the guy at his house, test drove it, researched it, researched him and had a pre-inspection at local chevy dealer. if i was going out of town, NO WAY.
just like marco from tropoje said.........good luck
having been "leo" i always carry and keep my permits up to date but why, why would you put yourself in that situation??
and yes it happens all the time around here......masters tickets......during march it seems like every year you hear it on the news, yet another masters ticket scam ends in armed robbery
if you aren't familiar with the place take a friend (preferably corvette person also for another opinion on car), and have ccw as plan b. definitely do homework on car and make sure its legit and if it is the seller will be happy to have it sold and wait a day or week for a cashiers check from a national bank......i paid cash for mine only after i met the guy at his house, test drove it, researched it, researched him and had a pre-inspection at local chevy dealer. if i was going out of town, NO WAY.
just like marco from tropoje said.........good luck
Race Director
Joined: Apr 2005
Posts: 10,179
Likes: 2,306
From: Wesley Chapel, FL Las Vegas, NV
Racer
Joined: Nov 2010
Posts: 397
Likes: 33
From: Campton Hills, Illinois
Paying
Hello, I have traveled with 16K flew in meet seller at airport, paid him and drove back home. I was nervous about doing that, when I landed I went to the mens room and stashed some money in my left sox some in my right sox and the rest in my pants lol.
Now I am considering buying a 02 Z06 from a guy in the Miami area. I would be having it shipped back to Chicago. My intention is to do this deal without seeing the car myself. I have contacted a forum member in the area who will be taking a look at the car for me and I may have a mechanic also take a look.
So any suggestions on how to pay the guy. So many sellers want cash.
Now I am considering buying a 02 Z06 from a guy in the Miami area. I would be having it shipped back to Chicago. My intention is to do this deal without seeing the car myself. I have contacted a forum member in the area who will be taking a look at the car for me and I may have a mechanic also take a look.
So any suggestions on how to pay the guy. So many sellers want cash.