Selling a vehicle can take up a lot of time. It also has the potential to be dangerous unless you are careful. When you trade in a vehicle for something new, the transaction details are primarily the responsibility of the dealer. When you decide to sell your car for cash, you bear all the responsibility.
Unless you live in a tiny community, where everybody knows everybody else, it's a good bet that some of the people interested in your ad about the vehicle will be strangers to you. When this is the case, you have to be very careful and take measures to ensure everyone's safety. Don't be caught alone with people you don't know.
Be sure to get a copy of the driver's license of anyone you let test drive the vehicle. Have a bill of sale with all the pertinent information included. That includes the fact that you are selling the vehicle as is.
You never want to accept a personal check unless you're holding the vehicle title until the personal check clears. You can't assume cashier's checks are legitimate, because they can be forged just like personal checks. Accepting only cash is the best way to ensure you're getting paid, but this isn't a fool proof plan either. If you lose the money, or it is stolen, you won't be able to do anything about it.
One option is to meet the purchaser at the bank where he does business in order to exchange the funds and the paperwork. Here it's alright to take the buyer's personal check because you can exchange it for a cashier's check made payable to you. That check can be deposited in your bank account where the funds will be available to you within twenty-four or forty-eight hours.
You might ask the buyer to meet you, at the bank where you have an account, with the money in hand. You can deposit the cash directly into this account and handle all the paperwork at that time. It is a good idea to ask a bank manager if there is a private place, out of public eyes, where this transaction can take place. Most will accommodate you with a desk in an out of the way corner of the bank or let you use a conference room temporarily.
Meeting at the banks can be an inconvenience for you and the buyer because banks are only open during regular business hours. You could open a temporary account at a branch in one of the big box stores. They have extended hours, are public, and have security cameras.
An online escrow service can work if you are dealing with someone who lives out of town. The escrow service takes the payment, holds it until it clears, and disperses the funds. You get the money when the buyer gets the car.
Unless you live in a tiny community, where everybody knows everybody else, it's a good bet that some of the people interested in your ad about the vehicle will be strangers to you. When this is the case, you have to be very careful and take measures to ensure everyone's safety. Don't be caught alone with people you don't know.
Be sure to get a copy of the driver's license of anyone you let test drive the vehicle. Have a bill of sale with all the pertinent information included. That includes the fact that you are selling the vehicle as is.
You never want to accept a personal check unless you're holding the vehicle title until the personal check clears. You can't assume cashier's checks are legitimate, because they can be forged just like personal checks. Accepting only cash is the best way to ensure you're getting paid, but this isn't a fool proof plan either. If you lose the money, or it is stolen, you won't be able to do anything about it.
One option is to meet the purchaser at the bank where he does business in order to exchange the funds and the paperwork. Here it's alright to take the buyer's personal check because you can exchange it for a cashier's check made payable to you. That check can be deposited in your bank account where the funds will be available to you within twenty-four or forty-eight hours.
You might ask the buyer to meet you, at the bank where you have an account, with the money in hand. You can deposit the cash directly into this account and handle all the paperwork at that time. It is a good idea to ask a bank manager if there is a private place, out of public eyes, where this transaction can take place. Most will accommodate you with a desk in an out of the way corner of the bank or let you use a conference room temporarily.
Meeting at the banks can be an inconvenience for you and the buyer because banks are only open during regular business hours. You could open a temporary account at a branch in one of the big box stores. They have extended hours, are public, and have security cameras.
An online escrow service can work if you are dealing with someone who lives out of town. The escrow service takes the payment, holds it until it clears, and disperses the funds. You get the money when the buyer gets the car.
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