Selling a vehicle can take up a lot of time. It is also potentially dangerous unless you know what you're doing. When you go to a dealer and trade the auto for something new, it's up to the dealer to handle the transaction. If you do the selling yourself, all the responsibility falls on your shoulders. You can sell your car for cash safely, but you have to plan ahead.
Unless you live in a tiny community, where everybody knows everybody else, it's a good bet that some of the people interested in your ad about the vehicle will be strangers to you. When this is the case, you have to be very careful and take measures to ensure everyone's safety. Don't be caught alone with people you don't know.
A potential buyer will want to test drive the vehicle before committing to the purchase. This is fine as long as you have a copy of his driver's license before he sets off. You need a legal bill of sale ready that includes all the pertinent information. In the bill of sale it must say you are selling the car as is, where is.
Don't take a personal check unless you hold the title to the vehicle until the check clears. There are fraudulent cashier's checks out there, so you have to be careful if you decide to take one. Cash is the easiest way to ensure you're really getting paid for the auto you're selling, but taking money comes with its own set of problems. If you are robbed you will be out of luck unless you take some protective measures.
One option is to meet the purchaser at the bank where he does business in order to exchange the funds and the paperwork. Here it's alright to take the buyer's personal check because you can exchange it for a cashier's check made payable to you. That check can be deposited in your bank account where the funds will be available to you within twenty-four or forty-eight hours.
You might request that the buyer meet you where you bank with the cash in hand. That money can be deposited directly into your account. You need to have all the paperwork ready to turn over at that time. For safety's sake you probably need to ask a bank officer if you can use a private room, away from prying eyes, where you and the buyer can exchange the papers and the money. Most bank officials are happy to let you use a conference room or an out of the way desk that gives you privacy.
Meeting at the banks can be an inconvenience for you and the buyer because banks are only open during regular business hours. You could open a temporary account at a branch in one of the big box stores. They have extended hours, are public, and have security cameras.
An online escrow service can work if you are dealing with someone who lives out of town. The escrow service takes the payment, holds it until it clears, and disperses the funds. You get the money when the buyer gets the car.
Unless you live in a tiny community, where everybody knows everybody else, it's a good bet that some of the people interested in your ad about the vehicle will be strangers to you. When this is the case, you have to be very careful and take measures to ensure everyone's safety. Don't be caught alone with people you don't know.
A potential buyer will want to test drive the vehicle before committing to the purchase. This is fine as long as you have a copy of his driver's license before he sets off. You need a legal bill of sale ready that includes all the pertinent information. In the bill of sale it must say you are selling the car as is, where is.
Don't take a personal check unless you hold the title to the vehicle until the check clears. There are fraudulent cashier's checks out there, so you have to be careful if you decide to take one. Cash is the easiest way to ensure you're really getting paid for the auto you're selling, but taking money comes with its own set of problems. If you are robbed you will be out of luck unless you take some protective measures.
One option is to meet the purchaser at the bank where he does business in order to exchange the funds and the paperwork. Here it's alright to take the buyer's personal check because you can exchange it for a cashier's check made payable to you. That check can be deposited in your bank account where the funds will be available to you within twenty-four or forty-eight hours.
You might request that the buyer meet you where you bank with the cash in hand. That money can be deposited directly into your account. You need to have all the paperwork ready to turn over at that time. For safety's sake you probably need to ask a bank officer if you can use a private room, away from prying eyes, where you and the buyer can exchange the papers and the money. Most bank officials are happy to let you use a conference room or an out of the way desk that gives you privacy.
Meeting at the banks can be an inconvenience for you and the buyer because banks are only open during regular business hours. You could open a temporary account at a branch in one of the big box stores. They have extended hours, are public, and have security cameras.
An online escrow service can work if you are dealing with someone who lives out of town. The escrow service takes the payment, holds it until it clears, and disperses the funds. You get the money when the buyer gets the car.
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