Selling a car privately - how do I make sure my car doesn't get stolen?
What is the normal accepted way of doing this?
Do I keep the car until the cheque has cleared?
Do I hand over the car but not the ownership papers?
Answers:
To protect yourself, you have a number of different options.
1. Finalize the transaction at their bank.
2. Get them to pay via cashier's check or money order.
3. Hold the car until the funds clear on a personal check.
BTW, also don't forget to personally complete the registration/title transfer documentation. If you leave it up to the buyer and they end up having an accident or committing a crime in the car, you might have a lot of hoops to jump through to get the ownership issue cleared up with the authorities.
Ask for it in cash - or sign an agreement that you will give them the car, when the cheque clears. Or ask them to get a Bankers Draft so the money will definitely be paid to you.
How about, not take a check? You want cash, or at the very least a cashiers check. If they try tio give you a check, just say that you don't have any way of cashing it, could they please go get the cash from an ATM, or their bank. Don't let them try to play head games either. If they try to insinuate that they are the only people willing to buy the car, or if they continue to try and convince you to take a check, then you probably don't want it.
Ask for a deposit, don't hand over the car until you have the cash, or the cheque has cleared, for the full amount.
If the buyer refuses, then the deal should be off
well what i did was keep the keys and told them i would drop the car of to them once it cleared they were happy as it showed both partys had an element of trust
Have the handover be at their bank after you get the cash, don't take a check at all. Once you get the cash at the bank, then convert that to a cashiers check so they can't steal it back.
Never sign over the car without first having cash in hand. It's not rude to insist on this; it's just standard practice.
I would ask for cash or a cashier's check, but the best thing to do if you have to take a check is to let them have the car, but keep the title until the check clears, telling them this alone will make them want to pay in cash. If they say they can only do a check, ask them to go to the back to cash the check before picking up the car
Keep the car! they will know where you live anyway if they give you cheque then you can pay extra to get the cheque cleared with in 1or2day rather then the normal 5 working day.
or a banker draft is the safest way.
I would tell who ever buys it that you only want a bank check or have them go with you to cash it at their bank. A certified bank check or a money order is the only way to go. Unless of course they have cash.
get a bill of sale, name, address, phone # and the persons driver's license
bankers cheque is the best and safe way
by the way its amazing how many people cant spell cheque
Ask for cash
sleep in it
keep the car until cheque is cleared ,if they want test run go with them,don`t hand anything over until it`s all complete
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