As was foretold, we've added advertisements to the forums! If you have questions, or if you encounter any bugs, please visit this thread: https://forums.penny-arcade.com/discussion/240191/forum-advertisement-faq-and-reports-thread/

My first time selling a car

nomenome Registered User regular
edited July 2008 in Help / Advice Forum
I've always driven cars until they became more expensive to repair then was actually worth so this is a first for me. FYI all my previous cars I've kept until it needed a new engine or transmission then sold it to a junkyard. Saved a bunch of money over the years by owning older cars.

I want to sell my Jeep Cherokee and I'm not sure what to expect. I've bought cars before so I know how it goes from that side of the transaction. I should probably be wary of accepting checks from strangers but would asking for all of it in cash be to much? I plan on asking for $4200 and negotiating from there. It's been converted to a right hand drive vehicle for my job. How would things work if they had to get a car loan or money order? What would I do with a money order if I should accept it as payment? Do I get a check from their bank if they have to get a loan?

nome on

Posts

  • DeadfallDeadfall I don't think you realize just how rich he is. In fact, I should put on a monocle.Registered User regular
    edited July 2008
    Out of curiosity, what year is it? How many miles? What's the condition?

    I ask because right now there are a plethora of SUVs for sale on the market right now. People are dumping their gas-hogs and going for more sleeker modes of transportation. Just giving you a heads up that you might have to take a price hit on it.

    At any rate, if you take a check, I would just call their bank to confirm they have the sufficient funds before you cash it. That's what the owner did for the first car I bought.

    Deadfall on
    7ivi73p71dgy.png
    xbl - HowYouGetAnts
    steam - WeAreAllGeth
  • DaenrisDaenris Registered User regular
    edited July 2008
    It is pretty unreasonable to ask for cash when you're asking $4200. You could ask for a money order, because at that point they've already paid the place where they bought it, so there's little risk. Alternatively you could tell them that for a check you need to wait until it clears before actually turning over the title/car. This would protect you from getting screwed, but they may not want to do it because it doesn't protect them from getting screwed (i.e. you could deposit the check and then just not give them the car).

    Also, is there a big enough market where you're at to be selling a right-hand drive jeep? I mean, even if I were in the market for a jeep I'd immediately not bother looking at your because I wouldn't want to buy a car that I'd just have to spend money to convert it back.

    Daenris on
  • CrashtardCrashtard Registered User regular
    edited July 2008
    I definitely would not take any form of check. I've seen some damned fine counterfeit bank checks. I would only take cash. There's no reason for them to be giving you a money order since they can only buy them with cash, AFAIK.

    Crashtard on
    I pinky swear that we will not screw you.

    Crashtard.jpg
  • AgesAges Registered User regular
    edited July 2008
    Crashtard wrote: »
    I definitely would not take any form of check. I've seen some damned fine counterfeit bank checks. I would only take cash. There's no reason for them to be giving you a money order since they can only buy them with cash, AFAIK.

    I don't think anyone's gonna feel comfortable enough with over four grand sitting in their back pocket. Lest their giant behemoths, at least. You can purchase money orders with debit cards, so that's probably the best way to do it. As far as I know, you can deposit money orders into your bank account as well without much hassle.

    Ages on
  • CrashtardCrashtard Registered User regular
    edited July 2008
    Ages wrote: »
    Crashtard wrote: »
    I definitely would not take any form of check. I've seen some damned fine counterfeit bank checks. I would only take cash. There's no reason for them to be giving you a money order since they can only buy them with cash, AFAIK.

    I don't think anyone's gonna feel comfortable enough with over four grand sitting in their back pocket. Lest their giant behemoths, at least. You can purchase money orders with debit cards, so that's probably the best way to do it. As far as I know, you can deposit money orders into your bank account as well without much hassle.

    Right, but it's not like you have to do the deal at your house. Right, but it's not like he has to run around the countryside with the cash. They have to meet at the SoS anyway to do the title transfer, so he can get the cash and then go directly there. If I were selling a car this is about the only way I'd feel comfortable knowing it was a safe deal.

    The reason for all that is because I used to work at a big retail store that cashed checks, and I've seen so many fake checks, money orders, etc that it boggled the mind.

    Crashtard on
    I pinky swear that we will not screw you.

    Crashtard.jpg
  • wallabeeXwallabeeX Registered User regular
    edited July 2008
    You do this kind of transaction with a certified bank check. Period.

    In response to the counterfeit bank check, I think that while this may be true, I'm skeptical they'd get very far with a car they've essentially stolen by paying with a counterfeit bank check. Just make sure you deposit it immediately.

    wallabeeX on
  • DaenrisDaenris Registered User regular
    edited July 2008
    Crashtard wrote: »
    Right, but it's not like you have to do the deal at your house. Right, but it's not like he has to run around the countryside with the cash. They have to meet at the SoS anyway to do the title transfer, so he can get the cash and then go directly there. If I were selling a car this is about the only way I'd feel comfortable knowing it was a safe deal.

    The reason for all that is because I used to work at a big retail store that cashed checks, and I've seen so many fake checks, money orders, etc that it boggled the mind.

    Except you don't always have to meet at the SoS to do a sale. We just sold a car, and all we had to do was sign over the title to them, and keep a copy for ourselves. It was then the buyer's responsibility to go to the secretary of state's office and get the title transferred. I suspect it depends heavily on the state.

    And fake checks are why I suggested possibly doing a deal that involved waiting for the check to clear before the actual transfer.

    Daenris on
  • firewaterwordfirewaterword Satchitananda Pais Vasco to San FranciscoRegistered User regular
    edited July 2008
    If you're really worried about it, insist you accompany the buyer to his or her bank, whereupon the check will be issued under your scrutiny.

    Another option is a wire transfer, though that may arouse suspicion in some buyers.

    firewaterword on
    Lokah Samastah Sukhino Bhavantu
  • MidshipmanMidshipman Registered User regular
    edited July 2008
    If you're really worried about it, insist you accompany the buyer to his or her bank, whereupon the check will be issued under your scrutiny.

    Another option is a wire transfer, though that may arouse suspicion in some buyers.

    Just meet up at the parking lot at a branch of their bank, go in with them, have them make you a cashiers check on the spot, then give them the title.

    Midshipman on
    midshipman.jpg
  • nomenome Registered User regular
    edited July 2008
    Any tips on how to spot a counterfeit? I've never even seen a money order or certified bank check. I think I'll ask for one of those two or to meet them at their bank. Would it be wierd for me to write down their driver's license number too?

    This wouldn't be such a annoyance if I wasn't trying to get so much for it. I remember selling my last car to a junkyard for $200 plus free towing so you can see where I'm coming from. Thanks for all the advice so far everyone.

    nome on
  • witch_iewitch_ie Registered User regular
    edited July 2008
    Yes. You should definitely write down their license number and ask to see an official form of ID when selling the car and upon allowing any test drives.

    witch_ie on
  • PheezerPheezer Registered User, ClubPA regular
    edited July 2008
    nome wrote: »
    Any tips on how to spot a counterfeit? I've never even seen a money order or certified bank check.

    ...and this is why you're not going to accept a cheque handed to you on your driveway. You're gonna go to the bank with them, and have them get a bank cheque, and hand the title over then. And yes, you should have some ID information on who you sold the vehicle to.

    Pheezer on
    IT'S GOT ME REACHING IN MY POCKET IT'S GOT ME FORKING OVER CASH
    CUZ THERE'S SOMETHING IN THE MIDDLE AND IT'S GIVING ME A RASH
  • DmanDman Registered User regular
    edited July 2008
    Pheezer wrote: »
    nome wrote: »
    Any tips on how to spot a counterfeit? I've never even seen a money order or certified bank check.

    ...and this is why you're not going to accept a cheque handed to you on your driveway. You're gonna go to the bank with them, and have them get a bank cheque, and hand the title over then. And yes, you should have some ID information on who you sold the vehicle to.

    Do this.
    It's just as easy to meet at the bank as anywhere else.

    Dman on
Sign In or Register to comment.