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.
Don't get talked into taking a personal check unless you keep the title in your possession until that check clears the bank. Cashier's checks can also be risky. People can forge those just like they do with personal checks. Accepting cash only is the surest way to know you're getting paid. Taking a significant sum of money can be risky too though. If someone robs you, or you lose the money, you don't have any recourse.
You can ask the individual buying the vehicle to meet you at his bank to complete the transaction. That way you can take his personal check and turn around and get a legitimate cashier's check made out to you. You can deposit the cashier's check into your own account and have the funds available in a day or two. You should pay for the transaction fee because this is being done for your convenience.
You might request that the buyer meet you where you bank with the cash in hand. That money can be deposited directly into your account. You need to have all the paperwork ready to turn over at that time. For safety's sake you probably need to ask a bank officer if you can use a private room, away from prying eyes, where you and the buyer can exchange the papers and the money. Most bank officials are happy to let you use a conference room or an out of the way desk that gives you privacy.
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.
Don't get talked into taking a personal check unless you keep the title in your possession until that check clears the bank. Cashier's checks can also be risky. People can forge those just like they do with personal checks. Accepting cash only is the surest way to know you're getting paid. Taking a significant sum of money can be risky too though. If someone robs you, or you lose the money, you don't have any recourse.
You can ask the individual buying the vehicle to meet you at his bank to complete the transaction. That way you can take his personal check and turn around and get a legitimate cashier's check made out to you. You can deposit the cashier's check into your own account and have the funds available in a day or two. You should pay for the transaction fee because this is being done for your convenience.
You might request that the buyer meet you where you bank with the cash in hand. That money can be deposited directly into your account. You need to have all the paperwork ready to turn over at that time. For safety's sake you probably need to ask a bank officer if you can use a private room, away from prying eyes, where you and the buyer can exchange the papers and the money. Most bank officials are happy to let you use a conference room or an out of the way desk that gives you privacy.
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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