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Any scams to be concerned about when selling a used car for cash?
Posted on 10/1/18 at 12:43 pm
Posted on 10/1/18 at 12:43 pm
Selling an old vehicle, not a lot of money. Meeting a guy at my business later (public place, lots of people, so no safety concerns).
Any concerns with just signing over the title?
I know to get the license plate. I haven’t sold a vehicle person-to-person in over 20 years.
Any concerns with just signing over the title?
I know to get the license plate. I haven’t sold a vehicle person-to-person in over 20 years.
14
Posted on 10/1/18 at 12:45 pm to Bjorn Cyborg
Watch out for your cornhole
Posted on 10/1/18 at 12:46 pm to Bjorn Cyborg
I sell a lot of vehicles. Just love buying cheap cars tinkering and selling them, not much profit per vehicle , but that's not the point.
Rule 1. No financing
Rule 2. Cash ONLY
Rule 3. As Is means just that, if it breaks down in a week, it's a used damn car
Rule 4. Make sure you have a bill of sale for your own records (the title is the buyer's bill of sale)
Other than that, not much can go wrong.
Rule 1. No financing
Rule 2. Cash ONLY
Rule 3. As Is means just that, if it breaks down in a week, it's a used damn car
Rule 4. Make sure you have a bill of sale for your own records (the title is the buyer's bill of sale)
Other than that, not much can go wrong.
Posted on 10/1/18 at 12:47 pm to HeyHeyHogsAllTheWay
Get the AS IS in writing.
Posted on 10/1/18 at 12:48 pm to Bjorn Cyborg
I would say get the money before giving them a key.
If they haven't requested anything specific like "I will buy it but only if you meet me in an alley" then I would say be good especially if they agree to meet you in a public place.
There is always the chance the cash can be counterfeit. Maybe ask them to pay with a money order.
If they haven't requested anything specific like "I will buy it but only if you meet me in an alley" then I would say be good especially if they agree to meet you in a public place.
There is always the chance the cash can be counterfeit. Maybe ask them to pay with a money order.
Posted on 10/1/18 at 12:48 pm to HeyHeyHogsAllTheWay
Do you take your plate off or just cancel online and not worry about it?
Does anything need to be notorized?
Does anything need to be notorized?
Posted on 10/1/18 at 12:51 pm to Bjorn Cyborg
1. Meet them at YOUR bank during business hours.
2. Get there early and have them come inside to meet you there.
3. Banks have phenomenal high definition cameras in case something happens.
4. Let them drive the vehicle and you ride along with them.
5. Come back to the bank and fill out the Bill of Sale inside the lobby.
6. Walk up to the counter and deposit the cash into your account and then sign over the title and give them the bill of sale.
7. If the cash is fake, the teller will know.
DONT EVER TAKE A CHECK OR MONEY ORDER. Those are easy to fake and take days to process.
2. Get there early and have them come inside to meet you there.
3. Banks have phenomenal high definition cameras in case something happens.
4. Let them drive the vehicle and you ride along with them.
5. Come back to the bank and fill out the Bill of Sale inside the lobby.
6. Walk up to the counter and deposit the cash into your account and then sign over the title and give them the bill of sale.
7. If the cash is fake, the teller will know.
DONT EVER TAKE A CHECK OR MONEY ORDER. Those are easy to fake and take days to process.
Posted on 10/1/18 at 12:54 pm to Bjorn Cyborg
Bill of sale transferring ownership is key
You don’t want 100 unpair parking tickets in 6 months and you want to be free of liability if they hit someone and ditch
You don’t want 100 unpair parking tickets in 6 months and you want to be free of liability if they hit someone and ditch
Posted on 10/1/18 at 12:54 pm to Bullfrog
If he wants to register it or title it in his name he'll want it notarized. Take your plate and turn it in, don't forget! Make sure that $$ is legit.
Posted on 10/1/18 at 12:54 pm to Bullfrog
quote:
Do you take your plate off or just cancel online and not worry about it?
Does anything need to be notorized?
Normally I don't even have plates on a vehicle. I went to the trouble of obtaining a dealer license because I enjoy buying, fixing and selling in my retirement and don't want the hassle of messing with having to register a new vehicle and add it to my property tax and then remove dit when I sell it, etc etc. For example, right now I have ten older cars that are in various stages of getting ready to sell. None of them have plates , I just put the dealer plate on when I need to drive it for whatever reason.
As a practical matter for personal selling of one that does have plates on it, I'd recommend taking plates off though unless you know and trust the buyer.
Posted on 10/1/18 at 12:55 pm to Bjorn Cyborg
quote:
I sell a lot of vehicles. Just love buying cheap cars tinkering and selling them, not much profit per vehicle , but that's not the point. Rule 1. No financing Rule 2. Cash ONLY Rule 3. As Is means just that, if it breaks down in a week, it's a used damn car Rule 4. Make sure you have a bill of sale for your own records (the title is the buyer's bill of sale) Other than that, not much can go wrong.
Take a second, write the car info on a piece of paper. Add you selling to the buyer and HAVE A WITNESS also sign the paper.
Your signature, your buyer and a witness
Basic car info, make/model/vin # --- and put "as is" in the lingo ---- and of course the date.
This post was edited on 10/1/18 at 12:56 pm
Posted on 10/1/18 at 12:55 pm to Bjorn Cyborg
quote:
Any scams to be concerned about when selling a used car for cash? by Bjorn Cyborg
Make sure you avoid the police while carrying cash over $1k. They've been known to steal it from citizens.
Posted on 10/1/18 at 12:58 pm to Bjorn Cyborg
On the Bill of Sale, definitely include "As is" and be sure to include the VIN on the document.
Eta: as already posted.
Eta: as already posted.
This post was edited on 10/1/18 at 1:00 pm
Posted on 10/1/18 at 1:00 pm to Bjorn Cyborg
Make sure the check they give you is local
Posted on 10/1/18 at 1:01 pm to eatpie
Are counterfeit concerns really legit?
Posted on 10/1/18 at 1:04 pm to Bjorn Cyborg
quote:
Are counterfeit concerns really legit?
Of course but no. If you are concerned buy yourself a pen
LINK
Posted on 10/1/18 at 1:04 pm to OweO
quote:
There is always the chance the cash can be counterfeit. Maybe ask them to pay with a money order.
You’re worried about counterfeit money so you suggest a money order?
Posted on 10/1/18 at 1:09 pm to Bjorn Cyborg
quote:
Any scams to be concerned about when selling a used car for cash?
Just the one where they fold the bills in half and count each one twice.
Posted on 10/1/18 at 1:12 pm to Ed Osteen
I one time arrested this shady arse soldier. He had two vehicles identical models , colors, etc. One was in good shape, one a piece of shite. He was doing the switch and bait. He showed this guy the good vehicle and made a deal that the guy was supposed to come pick it up at the home etc etc. well the guy pays gets his title and shows up and the piece of shite is sitting there in the driveway.
Sure enough the shady soldier had sold him the shite vehicle after showing him the good one, and the VIN confirmed this, the title the guy had received was for the POS. Luckily for the buyer 2 I found two other soldiers who the guy had tried the same scam on prior and they had decided to pass on the vehicle (not knowing then that they had avoided being scammed)
Sure enough the shady soldier had sold him the shite vehicle after showing him the good one, and the VIN confirmed this, the title the guy had received was for the POS. Luckily for the buyer 2 I found two other soldiers who the guy had tried the same scam on prior and they had decided to pass on the vehicle (not knowing then that they had avoided being scammed)
Posted on 10/1/18 at 1:13 pm to LarryDavid
quote:
Take a second, write the car info on a piece of paper. Add you selling to the buyer and HAVE A WITNESS also sign the paper.
Your signature, your buyer and a witness
Basic car info, make/model/vin # --- and put "as is" in the lingo ---- and of course the date.
If you go to the DMV they will give you a standard bill of sale that you can then copy if you need to
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