Asking as maybe someone has experience selling over the internet. What is the best way for a seller to protect themselves if they sell a vehicle over the internet.

Cash, pick up in person.

I used to buy a lot of stuff from people on the net, but with all the scams that are popping up now, and all the fraud taking place, I won't buy unless I know the person and the part. I buy pretty much all new now from reputable stores. I wouldn't treat a car sale any different.....you stand to lose too much....

Again, Cash, in person....safest way.

Yes. Cash is king!

That's a great idea until you get paid with a sack full of counterfeit money.

Meet them at their bank (or your bank) and get bank funds.

The best method on NOT getting scammed on the Internet.....Don't do it !

Bob

Cash in person, (I'd take a few fake $100 bills versus a total loss} or a bank transfer.

Definitely cash. As a business that does a lot of cash transactions, I carry a detection pen with me and check the bills on the spot. Also the security stripe on the bills is easy to see once you know what to look for. Different denomination bill stripes are a little different, but easy to see. I sold a Camaro that went to England and I had the guy lay all the bills out on the hood and I checked them before I turned over the paper work.

Okay so no one has done any internet sales only in person cash sales? That's all I've ever done but I know vehicles are being shipped and sold every day and they aren't in person sales or cash.
I am getting to the point I really don't want people coming to me to see a vehicle. I've had them show up with a few buddies and it's all you can do to keep up with them prowling around and worried they're coming back later to steal your stuff. We all have stuff which is why we're on a drag race forum.

If you are going to do a "Cash Only Transaction" do it in the lobby of the local PD. Where we live private meeting cash transactions often turn into shooting transactions with someone going to the morgue.

Just be smart, CYA (Cover your azz).

Bob

Bank Transfer.

I have 3 comments on this topic.

1. Use EXTREME Caution. There have been some deals gone bad over the past few years, one where a guy posted a classic old Mustang for sale, was contacted by a supposed buyer who said he wanted the car, and would pay cash, if it were delivered to him. IIRC Possibly at a meeting point somewhere. Owner brought the car, was shot, car taken. Perp eventually caught, but that didn't do the owner any good. (A very similar, but reverse scenario happened, where a would-be buyer found his dream car posted on Craigslist, seller said cash only, buyer shows up with an envelope of cash, got robbed & killed.

2. Some on here may remember a bad experience I had about 7 years ago, where I bought an orange V8 Vega online from a guy in Maryland. Yeah, I realize buying & selling are different, but it turned into a nightmare. I sent him a cashiers check by Express Mail, he cashed it immediately, was supposed to put the car on a truck to me in Colorado. spent almost a month working through his excuses, then one of our own on here did me a solid and reconned the guy and his location, found out he had it parked at some place like an Ice Cream parlor, with For Sale signs on it.
Then the guy asked for more money, because he had done some more work on the car (after I bought it, and which I had not authorized). The dude eventually stopped responding to my calls & text messages. One of his emails had come from his work account, I contacted his employer, and let his manager know what he had done, thinking maybe that would apply some pressure. Nope. Situation started looked like an expensive lesson. Then another DRR racer stepped up and turns out his wife knew the sellers wife, he provided me with her name & #. I got in touch with her. She had known nothing about the fact he had sold me the car, thought it was still for sale. She seemed genuinely pissed at him. Next day, he texts me, asking for my mailing address. Got a personal check from him in the mail.

3. I found my 68 Camaro project on FB, guy send me a bunch of additional pictures on request, we agreed to terms, so I told him I would buy it. I flew there, rented a car, drove to his home, handed him a personal check, gave him the location of the nearest branch of MY bank, he gave me the title, but kept the car, next day he went to that bank and they cashed my check. Few days later the car was delivered to me. Went flawlessly, but in hindsight it could have gone wrong in many ways, if either party had any bad intent.

I would summarize by suggesting you CAN successfully sell a car online, but really just take time to think things through, and take every possible precaution. As others mentioned, meet at Police station, or at your bank, where the funds can be verified and deposited, and title / bill of sale can be notarized etc.

This message has been edited. Last edited by: FootbrakeJim,

Wire Transfer, but the gov't will know all about it.

I have sold some stuff on RJ. Nothing huge but have had good luck. I accepted a check but told the buyer I would not mail it until the bank gave me the green light. If that wasn't ok with them show up with cash. I'd say 95% percent of the text messages you get back are scams or someone looking to steel the parts cheap. Usually when they call you it's worth the time to talk to them, most these days just text, I have not sold anything via just by texting!

I'm trying to do my research ahead of time. I have spoken on the phone, text messaged and FB'd with the buyer.
just got off of the phone with the bank. Wire transfer is the best with them but not bulletproof. The person can go to their bank and claim fraud but it takes a police report and such.
Talked to a car dealer that does it often, he said Paypal friends and family is the way to do it if they agree. Said they can't get the funds back that way.
I am not worried about the gov't, it's not that much and neither is my income. Besides over the course of time it's selling at a loss.

Get a bill tester and a quick set of tips from your bank. meet out side police station and make it happen. They come to you if they want it. With cash or it goes back home. SIMPLE as that.

In the past I have sold a ton of stuff on line and been paid in various ways. Sent several cars over seas and got paid by Western Union wire transfer. Once sold a old Mercedes repair manual to a guy in Germany and here came a letter with 6 $100 bills inside. Have had several $20-$30,000 deals done in cash. Haven't sold anything for several years and I think there are far more dishonest people now than then but somewhere in every deal is the chance for it to go bad. Just hope the other person is honest.

quote:

Originally posted by Yellow Ticket:
Wire Transfer, but the gov't will know all about it.

I've talked to local bank about this and they weren't too keen on it for a transaction for goods. They felt that there are many fraudulent wires and the money can be drawn back out. Also that if they obtain your banking info it can be used.
I find hard to believe that banks have no means to do something like this securely.

A Certified / Cashiers Check is a good option. Once it is made out to you, an in your possession, I don't think there is any way for them to cancel it. You could insist on depositing such check, and wait until it clears YOUR bank and funds are in your account. At that point he can't pull it back, and he won't have your account number, (which he would in a wire transfer).

EMan, are you planning on shipping the car, or buyer pickup?

quote:

Originally posted by Eman:

quote:

Originally posted by Yellow Ticket:
Wire Transfer, but the gov't will know all about it.

I've talked to local bank about this and they weren't too keen on it for a transaction for goods. They felt that there are many fraudulent wires and the money can be drawn back out. Also that if they obtain your banking info it can be used.
I find hard to believe that banks have no means to do something like this securely.

I guess you can wait for the wire transfer, convert it to cash or gold, and get a safety deposit box in another town at a different bank, and then ship the goods! lol.