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Old 01-20-2013, 08:42 PM
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How can I safely sell my classic car?

I'm getting ready to advertise my street rod for sale, and, frankly, I'm a bit terrified. It's not about an emotional attachment to the car. It's about being concerned over getting conned by someone. I've tried to buy and sell much cheaper things on eBay, craigslist, and various other places, and it seems like there's always someone trying to steal from me. So, how I can I go about selling a $30,000+ car without experiencing my worst nightmare?

After reading a couple treads in the archives, it seems the safest way is to exchange cash in some way inside a bank. Those threads were several years old, and I was wondering if there was a better process now. Also, how can I be up front about it without coming off as a difficult seller?

It really sucks that this is the world we live in now.
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Old 01-21-2013, 06:21 AM
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Originally Posted by 37Ford View Post
I'm getting ready to advertise my street rod for sale, and, frankly, I'm a bit terrified. It's not about an emotional attachment to the car. It's about being concerned over getting conned by someone. I've tried to buy and sell much cheaper things on eBay, craigslist, and various other places, and it seems like there's always someone trying to steal from me. So, how I can I go about selling a $30,000+ car without experiencing my worst nightmare?

After reading a couple treads in the archives, it seems the safest way is to exchange cash in some way inside a bank. Those threads were several years old, and I was wondering if there was a better process now. Also, how can I be up front about it without coming off as a difficult seller?

It really sucks that this is the world we live in now.

It is wise of you to ask these questions. I have bought a vehicle out of state on eBay but never sold one. However you can read the rules and helpful tips eBay Motors has for buyers and sellers. Follow it closely. Read what other sellers terms are, especially the dealers listings and learn.

Biggest scam to avoid is when someone sends you extra money and asks that you return them a check for the difference. Never understood how some people get snagged on that but they do. You send check and the deposit your were expecting never clears, bad deal.

Another thing I would do is set up an email alias that you use for this purpose only, maybe continue to use it for other purchasing later. This helps protect your identity to a degree since it is different from anything you use for other personal business.

Not sure I would advertise this kind of item on Craigslist. This venue is rife with potential problems and people look for bargains here. Fortunately I've never had an issue myself in buying smaller items.

Another angle is local consignment with a reputable dealer.
Good Luck.
Dave
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Old 01-21-2013, 06:45 AM
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I sold on ebay a high dollar 1966 caddy eldo. I did ask for cash in hand. Buyer put a deposit in paypal. he said he wanted to wire the rest to my bank account. So i went to my bank and opened a new account just for this transaction. Sent him the transfer numbers the bank gave me. He deposited the /cash, came and picked up the car 2 days later. NO Problems.
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Old 01-21-2013, 06:58 AM
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selling

cash and bank transfers are good.. remember every time u send someone a check they have your checking info.. a personal ck is ok as long as u SAY it takes about 10 days to clear so after that u can make the deal.. bank cks are fine cause u can call the bank and verify if its good.. watch out for someone emailing u with one addy and when u reply it changes to another.. like comcast changing to a Gmail account.. scam !!!! list it by saying in caps that if u are seeing the Ad its for sale and don't ask or u get deleted... calling it an "item" is a sure scam..
i guess be up front at the beginning of the way u want it to proceed, an honest person won't have a problem.. as was mentioned earlier sending extra so YOU can pay shipper= NOT!!
if u use ebay then pay pal is ok.. NEVER use pay pal if u advertise else where.. they don't cover loses then..
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Old 01-21-2013, 06:58 AM
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Also to save yourself problems accept no checks at all!! Like HDR4UNM said No extra cash deals. You will be fine. have a few friends over if they are paying cash. Have one get the plate number & model of the car they came in. Also ask for the their DL and say you want to right it down on the bill of sale they our going to sign for your records. This is if you feel uncomfortable about the buyer.
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Old 01-21-2013, 07:23 AM
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I sold two cars to out of state buyers and bought a $36K hot rod from an out of state seller. I advertised in the normal auto websites. First car, I took hard cash and we both went to bank to verify it was not counterfeit. Second car was for $16K. I had the buyer bring a BANK cashiers check drawn from his bank (not a money order or cashiers check drawn from his account). We went to my bank, called his bank to verify funds and it was done.

My rod purchase was done pretty much same as the second. I did send a paypal deposit (it was an Ebay sale) to hold the car till I could travel 300 mi to look at he car. I came with bank check. Only minor glitch was the seller's bank still held my bank check 5 days before he could get the money. The seller let me take the car since both my bank and his on a conference call confirmed to him that I COULD NOT get down the road and stop the bank check

The seller offered that upon arrival and looking at the car, if it was not what I wanted he would refund the paypal deposit. The seller originally wanted me to do a wire transfer bank to bank, but in my case, my bank said that would take 24hrs to go thru. I did not want to stay overnight for the transaction to take place so the seller agreed to the bank cashiers check.

One thing I liked, the seller had 20+ pics and a walk around video with the engine running as part of his ad. After my deposit he made another video of things I wanted to see and sent it directly to me. I had a pretty good idea of what the car looked like before seeing it in person. It was a selling point for me.

Hope my experiences help. Good luck on your sale
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Old 01-21-2013, 10:11 AM
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Had a bud who sold his street rod on Ebay to a buyer in Europe. He went through a local broker for the transaction. It cost him a few bucks but the broker did everything and the seller didnt worry about anything.

Vince
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Old 01-21-2013, 10:18 AM
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There are many ways to pay for a car, but a good rule is "Cash is King".

I have never hesitated to take possession of a car with a clear title or bill of sale (for older cars) and pay cash. Your concerns with receiving cash are limited to whether it's counterfeit or not which is easily established with one of those special pens. Buyer and seller both have concerns with the theft of cash in large amounts, so do the transaction with several friends present or in a public place. Besides, buying or sellig a car is always cause for celebration, so the more the merrier.

There's not a lot of exposure to provide a checking account number and routing and transit numbers for wire transfers. Really, I'll give my info to anybody who wants to make a deposit into my account. It will take some time and will cost a fee; check with your bank about any details first. This is the only alernative to cash that is ever acceptable to me.

Avoid _any_ kind of check (personal, certified or Cashier's), money orders, Traveler's Cheques or similar non-cash documents. If the guy has those, ask _him_ to convert it to cash first. It may be inconvenient, but it should present no real problem to do so. If he insists on one of these things, move on.

If you're selling over the Internet, ask for a nominal ($200-500) non-refundable deposit via PayPal to confirm the deal and let them pay in cash when they pick up the car. If they are having a transport service pick it up, that's when I use wire transfers. If they won't pay in cash, move on.

If they protest about the bank disclosure for depositing or obtain over $10,000 in cash, remind them that's the law and out of your control. If they protest, there's a reason they want to avoid the issue. Move on.

If any buyer is hesitant or protests or wants "special" arrangements, move on. No deal is so good that it can't wait for cash. "Cash is King".
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Old 01-25-2013, 06:21 PM
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Selling a car.

I am really amazed how trusting some people are. I would never ever buy or sell a car without meeting the the other party in person. I also would never, ever take a personal check from someone. A check is nothing more than an IOU. Cash, cash, cash! For a high dollar car always have a friend or witness with you and meet in a public place. And always have a "Bill of sale". Not just signing off on the title but an actual copy of the bill of sale for both seller/purchaser. It should have a seller and purchaser name, sale amount, description of vehicle with VIN, and a release of ownership, release of liability with the date and TIME of the sale. What happens when the some idiot you just sold a high HP rod or muscle car to does something stupid, goes out drives recklessly and crashes into someone while it's still in your name. Or the person is driving "your vehicle" while involved in other criminal traffic offenses and the registration still comes back to you! I'll bet the police or the person they crashed into will go after who ever is on the title/registartion of that vehicle. Why deal with the hassle, when a simple peice of paper (bill of sale) can save you a lot of trouble. Always be smart and protect yourself.
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Old 01-26-2013, 12:44 PM
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Quote:
Originally Posted by Studebaker View Post
I am really amazed how trusting some people are. I would never ever buy or sell a car without meeting the the other party in person. I also would never, ever take a personal check from someone. A check is nothing more than an IOU. Cash, cash, cash! For a high dollar car always have a friend or witness with you and meet in a public place. And always have a "Bill of sale". Not just signing off on the title but an actual copy of the bill of sale for both seller/purchaser. It should have a seller and purchaser name, sale amount, description of vehicle with VIN, and a release of ownership, release of liability with the date and TIME of the sale. What happens when the some idiot you just sold a high HP rod or muscle car to does something stupid, goes out drives recklessly and crashes into someone while it's still in your name. Or the person is driving "your vehicle" while involved in other criminal traffic offenses and the registration still comes back to you! I'll bet the police or the person they crashed into will go after who ever is on the title/registartion of that vehicle. Why deal with the hassle, when a simple peice of paper (bill of sale) can save you a lot of trouble. Always be smart and protect yourself.
In Texas there is an attachment to the title that both parties sign and it gets sent into the state just for the above mentioned. You sign off the title to the new buyer, both sign the attachment the seller detaches it from the signed title and that is it.

Vince
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Old 01-27-2013, 12:41 PM
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Thanks for the information, everyone. I feel more confident about how to go about now.

I posted online ads a couple days ago on two of the more popular sites that specialize in classic cars. I wanted to avoid sites like Craigslist because I know I will just be bombarded by scammers and others who just want to waste my time. Can anyone offer suggestions on how to maximize the exposure of the car to those who can actually afford to buy it and are seriously interested? I don't really live close to an area that has serious shows, but if I feel like it might be worth it, I would be willing to travel some to get it in front of the right type of people.
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Old 01-27-2013, 01:09 PM
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If your putting it on the web..You WILL be hit by scammers,, Knowing when they come is the important part.. Tell them to put the money in your hand when they come to pick it up,, If they are a scammer,, They will run away..FAST !!!!
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