re: how do you sell a car?

quote:

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I had a neighbor sell his lexus for over 20 grand and accepted cash in his driveway.

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Your neighbor is an idiot. Who would accept $20k in cash without investing a few bucks in a counterfeit detection pen? You'd have to be out of your mind to just blindly accept that much cash and let someone walk off with a high value item.

I agree.

Yes the cash was counterfeit. Yes he was an idiot.

I would never accept that kind of money at my house or anywhere but a bank.

I buy and sell cars, motorcycles all the time. I just do it for fun and I am easily bored with everything I buy. That is why I never buy new. Too much depreciation.

However, I have gotten to the point where the first question I ask is "Do you have the title?" If not, no further contact needed.

Second step is to ALWAYS ALWAYS ALWAYS meet at a major bank branch. Cameras everywhere, security, etc.

I had one guy who I did not expect was trying to scam me. He showed up in a G37 wearing nice clothes. Told me he was an accountant at a big corp in my town. I was selling a motorcycle for less than 2 grand. We met for him to see the bike and I held his car keys while he test rode it. We came to terms on the price and he wanted to pay cash. I did not bring the title or Bill of sale with me on purpose. It was a Sunday so I said how about we meet at lunch tomorrow? He said fine but it would have to be near his work.I guess He assumed I would meet in a parking lot. At 10 am the next day, I followed up. My bank had a branch around the corner and I texted to meet inside the bank.

He never showed.
Never returned another text.
I found a guy through a friend that also was an accountant and worked in his building who said he had never heard of the guy.

Lesson?

Always meet in public at a busy location. Always close the deal at the bank. I have a fire station less than 3 miles from my house that I always meet at. I take the guys donuts to keep things smooth and not get hassled about the brief use of their parking lot.

Last week I posted my Honda on craigslist and had a buyer within 48hrs.