whats the smart way to collect payment on a vehicle being sold??

tell him to bring cash an a revolver. id recommend doing the same when YOU buy as well if your not meeting at your own house(in which case youll have it anyway). i never buy or sell a car with or for anything but cash, and always bring your revolver.... never forget the revolver.
besides, 10000 isnt as big as it sounds, its only 100 hundred dollar bills. thats only 2 stacks

 

I like wire/bank transfers. I don't have to worry about counterfeit bills, counterfeit money orders, or anything else counterfeit. I also don't have to worry about having a large sum of cash on my person (or in my home) when a stranger knows I'll have it. If its in my account, its good and I'm safe.

 

The only thing about wire/bank transfer's is timing. What if the buyer is coming on a saturday evening or sunday, say, from out of state and decided's to buy the car and wants to take it then? Can the funds be 'wired' on a weekend off Bank hours?
It would work great if the buyer know's the car, or dosn't care if he see's in it person first, then it could be paid for ahead of time, but most deal's i've done were on weekends.
I didn't think transfers could be made during off hours, or am i wrong? I honestly don't know.

 

I sold a car to a person here on the HAMB that lived in another country. We have become friends but I really didn't know him. I was a little uneasy knowing of all the scams. I went to the bank that was differant from my normal bank and opened up an account with a $100 deposit. I had his bank transfer to my new account. Once monies was recieved I withdrew all the money. If you open an account at your normal bank and something goes wrong they can still credit your other account. Anytime you recieve over $5000.oo the goverment is notified. There was no wrong doing on this person part but I had never dealt with an overseas account. My bank was the one who told me to do the transfer this way.

 

Tony you bring up a good point..and to answer your question..depends on your bank and its hours..and their bank and their hours..chances are looking slim that they would come togeater on a weekend..
if the buyer is serious he should at least have a few hundred on him to show you he will be sending you the remainder on monday morning at 9 am! and the car stays put until that money is cleared into your account..than he either comes back for it or arranges shipping.

 

I've used escrow.com,there's a fee involved but it's worth it,espec. over 10k,check it out.

 

i like cash the pens are 5 buks at staples

 

Cash.........and a cheap marker for a bill every now and then......count out a "grand" then flip the bills over the count another grand then flip the bills again.........and then count the Cash a couple of more times to confirm your count......I have done this a couple of times.

On the "overseas" wire transfer's.......I would make sure it was someone that I knew (via the HAMB) and not some email spammer.......I have been burnt on a couple of Europe sales via PAYPAL, but that was Epay and not the HAMB.........I would REALLY research the overseas wire transfers or make sure that it is legit..

Oh yea, I do agree with the comments about having a buddy along and letting someone know where you are at..........or just download trackr on your cell and make sure you have an Italian buddy know where you are going to be.

http://www.trackr.eu/

 

Cash is great, Ive done it all different ways and that works out the best. What I do is count a stack out (one hundred in 20s, thousand in 100s) and then flip the next pile on top of it on a 90 degree angle. Makes a recount easy and after a recount your piles are neat and stacked like + so a quick total count is easy counting the bundles instead of the whole mess again.

 

There you go! Cash! for any amount. then bank it slowly, little at a time. Or the Bank will report it to Uncle Sam. And that means a big chunk of your profit. Cash. Cash. Cash.

 

If you are putting it into you account, have them meet you at your bank with cash. You have the car and ***le. That way you don't bring some freek to your house. Let the bank put the money through their machine and deposit it. That way you don't get burnt with counterfit. Also, then your buyer and his friends know the cash is in the bank, and don't plan a home invasion on your house (you brought them to it and let them scope it out) later on that night.
There are more crooks and freaks then anyone can count, and if you don't think so you are probably one of them and just don't know it.
Wil

 

Unless the guy is putting cash in your hand wire transfer only. The Secrete Service has notified banks that there are groups from Asia, Russia, Europe and a whole lot of other places that are submitting counterfeit bank checks, insurance checks airline refund checks just to name a few. They are so good even the banks can't tell by looking at them. It takes a few days maybe even as long as a week for them to physically hit their system before they can verify that their counterfeit.

 

Never moved a car for that kind of money buy I have had great luck with wire transfers to my bank account. Cash is best, it's fun to count.

 

Good Lord, what has the world come to? My wife thinks I am way too paranoid about this stuff, but this thread proves there is a fine line between being paranoid and being smart like a fox. I'd rather be paranoid than a ****er. I'd like to think that "most" folks are decent, and this transaction will go off without a hitch, but I've had some bad luck lately that is reminding me to take all necessary precautions.

 

Where do you get one of those pens?

 

Show me the money!!!!!!!!!!!!!!!!!!!!!!!!!!!
________________________________________________________________________
Like I told the kid "Your music not too loud, it just ****s!"

 

You can get the pens at Staples, and the like.

I prefer cash as well. In a briefcase with the loudest latches possible.

Good tip about the revolver, too. It will allow you to be able to steady your voice during the transaction.

If you are dealing with a buyer who is not present, then a wire transfer. Discuss your options with your bank, they will know what is best, they do this everyday.

 

it really ****ed that the goverment has their hand in every transaction. do money transfers in amounts under $5000 and then their is really nothing to worry about. kinda hard to explain where the counterfit money came from wether it's $5 or $5000.

 

Out-of-state, wire transfer is best. Even local if the amount is high enough. For check use, you need to hold everything until the check clears, including certified checks. I deal in 6 and 7 figure cars and transactions. We almost always do wire transfer. Last Nov we accepted a check for $195,000. Of course we knew both parties very well and there was zero concern. Last week we did one for $1.1M and that was wire transfer. I'm actually less trusting of small deals like a couple grand here and there. At that point like said above Cash is King.

 

My favorite art is pictures of dead Presidents. I can look at them for hours....

 

Paranoia? Ok call it what you will but I don't accept checks except from my mom. And even then she is suspect. I am NOT paranoid. LOL.

Having watched a good friend lose a bike a long time ago to a check that was drawn on the same bank he had just reinforced what I was taught. Cash on the barrel head.

(Bike was subsquently recovered very shortly after the failed transaction as offender did not really check to see who he had been dealing with. Oh those kids with wings can be so rambunctious at times. As well the bounced check fee of around $6.00 at the time was taken from offenders pocket in CASH. Friend from then on only dealt in cash. He developed a very bad case of paranoia from that too. LOL. RIP Bones AFFA we miss you!)

I am not really a revolver type anymore semi-autos work fairly well too!

And that may look like a bible in the zippered case next to me or anyone else here in Texas with the word Bible s***ched in script on the the leather case...but maybe, just maybe it ain't. "In God we trust..all others pay cash."

Carrying on with the quotes "Lawyers, guns, and money" Warren Zevon never said anything about cashiers checks, bank drafts, or money orders.

 

Over the last few days I've had a guy contacting me via email. He started out wanting to buy the car at $3k less than I'm asking, then I told him I wasn't interested at that amount and he countered a few days later by adding $1k. I still refused and today he sends another email offering to just wire me the full $15k. He's never seen the car and has never asked a single question about it...just wants to know where to wire the money, needs my bank acct info, phone numbers, etc. That kinda creeps me out, but is that the way it works? I don't spend that kinda money without putting my hands on the merchandise unless I know the seller real well. The guy saw my cl***ified on the HAMB, but may just be a lurker.

 

Open a new account with like a hundred bucks in it at a different bank than the one you use. Give him that account info. As soon as the money is wired to the account (if ever) withdraw it all and close the account.

 

"The wire transfer to the bank's receiving account sounds great too!"

Step 1: you notify your bank
Step 2: they remove your money
Step 3, 4, 5, 6, 7, 8, 9: wait
Step 10: "yes, we sent the money, and we have no idea how much longer it will take"
Step 11: "no, we didn't get the money yet, and we have no idea how much longer it will take"
Step 12: "no, there's no way to cancel this, or get the money back"
Step 13: eventually, something happens.

What was the problem?

Shamiqua (your banking professional) couldn't input the routing number correctly, what with the fake nails, and it was refused by your bank. Of course, no one at either bank has the IQ of a flashlight battery to tell you this.

BTW: had the same problem cashing Treasury notes through a bank - every single time. The transfer isn't the problem. It's the fact that banks no longer employ adults.

Never again.

What do I do?
1. cash
2. take photos of the other person, his house, his car, his driver's license
3. carry, and display, a big ****ing gun
4. anyone who takes offense can &$!+"{~*

 

This is the Most expensive car I ever bought



And I had to convince him with these ... to sell it to me ... Big stack





He had no trouble taking the ca$h.
Get a counterfeit pen detector ... and make them bring CA$H ... if they want the car and have the money ... cash is not a problem for a real buyer.

After you get the money ... put 4 or 5 grand of it in the bank ... ( savings or checking ) and the rest in a safety deposit box. Then over a period of time ... put the money in the accounts you want ... a little at a time. Even consider going to a NEW bank and opening a new savings account. The FEDS monitor large cash deposits. It used to be 10 grand ... I hear the amount has been lowered.

 

Bought a car from Canada once for $20k. I hired a lawyer ( called Barristers up there) that I chose from the Yellow pages online in the sellers city. The Lawyer wrote up an escrow agreement and sent a copy to me and the seller to sign and return. We then each got a copy with each others signature. I sent a check to the lawyer who held it until it cleared, seller sent him the ***le. When the check cleared, the car was shipped to me. I told the lawyer I received the car and he sent me the ***le and the seller his $. Cost a couple hudred bucks but went really smooth.

 

Where do you people come up with this stuff?

The gov't will not take any money from you for a large deposit to a bank account, and the police can't seize your money if you're traveling the highway with a large sum.

 

Accept beer, cases and cases of beer!

 

"the police can't seize your money if you're traveling the highway with a large sumthe police can't seize your money if you're traveling the highway with a large sum"

Not true. They can.

I'm in a similar situationi. I have a guy (on the Hamb) who agreed on a price, but not will no longer return my PM's to arrange the actual transaction. He's been on the Hamb several times since my two PM's but no response.
This is the second dead-beat buy I have have in the last three weeks on two different cars. The other one was on epay.
Why can't people just be honorable in their dealings?
r

 

Exactly. If you are doing nothing wrong and are not a criminal to start with you have nothing to worry about.