selling car to guy in Texas question about $$ transfer

[44070dart]

got a guy from Fort Worth area who has a shop that sells classic cars .. wants my car and I'm not sure how to get money the safest way .. money wired to my bank or ACH transfer ..what have you guys used.. I know I don't want any type of check ..anybody from Ft. Worth area

 

[Dave L]

hello,I sold a dart and it went to canada.What I did was go to the bank and open a new account and have him transfer to that account then i transfer that money to my original account then cancel the new account.I used bank transfer. Dave L

 

[themechanic]

This came up recently in another post here: http://www.forbbodiesonly.com/moparforum/showthread.php?83170-Need-Help-How-to-Make-State-to-State-Transaction-%28Just-Won-Bid-on-ebay%29

 

[5.7 hemi]

Bank transfer's are the best/safest for both parties!!

 

[mopar12372]

sad , hope you got good money for it!

 

[silversedan]

did a wire transfer last year and it worked out good. done in one day.

 

[NJRR]

As long as you get the wire transfer first and the money clears your account, BEFORE you ship the car, you should be fine.

 

[palmsprings]

I am from New Zealand & have done a number of car purchases from the States. I find bank to bank the best as then at least you have there bank address as well as there home address if anything is not good with the car. Also if it is across a border & there is a problem it becomes a federal offense which is jail time. Hope this is helpful to you.

 

[ram250098]

Bank to bank is the best, that way you can confirm right away and gives you peace of mind.
AL

 

[fwi]

No problems in my last 6 purchases/sales....always bank to bank transfers. If you can't do face to face cash bank transfer is the only way to go, very safe.
You don't need to be paranoid to the point of opening a new bank account just to close it the next day.

 

[Dennis H]

What is the PayPal cap? I'm not driving to a bank.

 

[Bruzilla]

Always lots of advice on this forum, but to be safe I would suggest asking this question at your bank. They'll be able to answer better than anyone.

 

[cavemanno1]

So what if you are the buyer and send your money but the car turns out to be junk?Nothing you can do,can't you?False advertising and misleading but still you would be screwed out of your money or there is somethig you can do after you sent your money and got the car?

 

[hunt2elk]

Bank to bank transfers are fast and only cost a few bucks. But once the person sending the money releases it, the bank cant offer you any protection what so ever. So you better be absolutely sure you know what you are buying.

 

[Coyoteduster]

So what if you are the buyer and send your money but the car turns out to be junk?Nothing you can do,can't you?False advertising and misleading but still you would be screwed out of your money or there is somethig you can do after you sent your money and got the car?

Unfortunately there isn't a financial transaction that protects the buyer in this situation, trust me, I wore the banks and credit unions out with questions on this very subject. If exchanging funds in person for the vehicle isn't possible, you're in for a couple of sleepless nights until the car shows up. I have only done this once, and I will never do it again ...

 

[NJRR]

I bought my 70 Satellite convertible from across the country. I had an inspection done, cost me $300. Inspector drove the car, put it on a lift, sent me about 200 pics and gave me a detailed report of every aspect of the car. When I got the car, it was actually better than I expected based on every little flaw the inspector listed. Then I used a 3rd party escrow service. I wired them the money, they notified the seller they had the money, the seller sent them the title and released the car to a shipper, I took delivery of the car, i notified the escrow company I was satisfied, they released the money to the seller, he got the money and told the escrow company to release the title and they sent it to me. At every step of the transaction, both seller and buyer were protected. Cost 2-3% IIRC. That's the only way I would do it if not in person.

 

[44070dart]

I'm SELLING the car guys not buying ....I would never buy a car without seeing it or having someone see it unless it was a/b/body site with someone who has a LOT of history at the site and then still buyer beware .. never did a wire transfer for a sale and just wondered peoples history with it

 

[NJRR]

44070- The thread wandered a little, sorry. I just sold a car on ebay. Buyer wire transferred me the money. Had no problem. Of course, the risk remains on the buyer's end that you won't screw him. So if he's ok with it, you should have no problem. As others said though, check with your bank and see what the rules are for the buyer reversing the wire transfer and you getting screwed after he gets the car.

 

[DennisH]

I bought my 70 Satellite convertible from across the country. I had an inspection done, cost me $300. Inspector drove the car, put it on a lift, sent me about 200 pics and gave me a detailed report of every aspect of the car. When I got the car, it was actually better than I expected based on every little flaw the inspector listed. Then I used a 3rd party escrow service. I wired them the money, they notified the seller they had the money, the seller sent them the title and released the car to a shipper, I took delivery of the car, i notified the escrow company I was satisfied, they released the money to the seller, he got the money and told the escrow company to release the title and they sent it to me. At every step of the transaction, both seller and buyer were protected. Cost 2-3% IIRC. That's the only way I would do it if not in person.

. Glad your transaction worked out. I know I as a seller would never release the vehicle and title until I got the $$.

One question: If you would have been unsatisfied with the car, who would have paid for return shipping?

Dennis

 

[1962polara]

Bank transfer is the best way....I wouldn't trust a cash purchase as I wouldn't want a large sum of money on me at any time.(how would you know the payer didn't tell someone what he was doing with this cash ????.wink,wink)

Are we talking a large sum?
If so you'd think he'd fly over to do the deal.

PayPal is good but what would stop him from making a claim? Tying up your funds.

Question really is how does he wanna pay? That might give you insight
Good Luck