Shippin car overseas, need help w/ money questions!

rcm · 05-30-2007, 07:36 AM

What is the best way to make sure my finds are in hand and really american dollars? Short of him sending cash.

The guys is Lima, Peru and I'm a little worried about this being on the up and up.

Thanks in advance.

aigel · aigel's Garage

Best way to make sure you are not getting screwed is to sell locally.

I would have the buyer wire the money to your bank account. Once it arrived, there is no turning back. Generally international wire transfers take about a week tops and will cost the sender a reasonable fee of about $30.

I am not familiar with Western Union, but it seems that that is also safe, as you can pick up the cash just by showing your driver's license. However, it's not traceable and a buyer will likely shy away from a Western Union transfer, as that's what all the scammers use.

George

competentone · 05-30-2007, 07:52 AM

Quote:

Originally posted by rcm
The guys is Lima, Peru and I'm a little worried about this being on the up and up.

Can you give us some more details? There must be something that is causing you to wonder if everything is "on the up and up."

The biggest question is what are you selling and why can't the buyer just find what he wants locally; why is he coming to you to buy? (I don't know what the currency situation is in Peru, but have exchange rates made your car enough of a bargain that it is worth shipping there?)

rcm · 05-30-2007, 07:57 AM

It's actually a 1936 ford V8 PU. It's completely original, maybe they don't have many down there???

I just get worried about these overseas deals. Heard about but, can't prove stories about deals going bad.

aigel · aigel's Garage

There should be a good market for such trucks in the US and even locally. Again, my strongest advice is to sell locally, even if it is for a bit less.

How much are you selling it for?

George

rcm · 05-30-2007, 08:13 AM

I agree, this was the first guy and he agreed to pay full price.

$15,000

Right now the bank is opening a special account for me just for this transaction. It will have no funds until his land and will be removed immediately once they do. I can not find anything wrong with the whole deal I guess. Spoke to the buyer on the phone and he seems to be a gentleman. Also understands the truck does not leave the yard until funds are locked in here.

aigel · aigel's Garage

The key is the wire transfer. Do not settler for a check. Even if you deposit a check and you take the money out of the account, you are still responsible if the check does not clear in the end. Your banker will know better than I, but AFAIK an international wire transfer to your account is not reversible.

That said, I still would rather sell locally and the fact that the guy buys a truck sight unseen for full price is alarming to me. Call me paranoid ...

George

competentone · 05-30-2007, 08:39 AM

If you haven't already, you may want to read this recent thread:

International sale

KFC911 · 05-30-2007, 08:41 AM

What George said...wire transfer is the only way to go.

BK911 · BK911's Garage

I've had pretty good luck with wire transfers. I have a checking account set up just for wire transfers. As soon as the money clears, I transfer into another account.

rcm · 05-30-2007, 09:41 AM

Quote:

Originally posted by BK911
I've had pretty good luck with wire transfers. I have a checking account set up just for wire transfers. As soon as the money clears, I transfer into another account.

Yes, as I said this pretty much what is going down. Should be ok.

aigel, he has seen tons of pics.

id10t · 05-30-2007, 09:45 AM

Wire xfer, but the buyer has no protection... maybe an escrow service of some sort?

aigel · aigel's Garage

Be careful, there is fake online escrow services out there.

I may be a wuss telling you not to go for an international transaction at all, but I have never been scammed either.

Just my two cents,

George