Question about selling car/payment

Eric 951 · 06-21-2007, 08:30 AM

I have a potential buyer coming for my turbo this weekend. They are travelling from new york, and based upon the PPI results will either be making a deposit or buying my car outright.
My questions are what are the safest means for payment?
Cash--obviously(I have a counterfeit pen)
But, seeing as how the transaction would take place on a Saturday, how can I protect myself?
I have heard about cashiers' checks being forged, and am leery accepting a personal check.
My bank is open on Saturdays, but even if I recieve a check, cash it and deposit it as cash, I can still be open to fraud as the transaction may not get posted untill Monday(next business day).

Anyone have any pointers--I already plan on taking down the drivers' license information, and I have the phone numbers(whcih can be changed).

All help appreciated.

KFC911 · 06-21-2007, 10:23 AM

You should be concerned, but imo, someone showing up in person with a cashier's check (or cash, etc.) is less likely to scam you than a transaction from "afar". That being said however, is your bank a "biggie", such that the buyer could obtain a cashier's check from "your" bank, or will their bank be open on a Saturday? If either of those apply, your bank could confirm the validity of a cashier's check before you release the car/title. Hope this helps....

Gogar · 06-21-2007, 10:27 AM

Ask the buyer which bank THEY will be getting a cashier's check from.

Hopefully there's a branch in your area. Then go to HIS bank TOGETHER and watch him draw the check. No fraud that way.

I'm from Colorado, and I bought my car in Kansas City. The PO and I went to a branch of my bank together and he watched me draw the check. In addition, there was a notary on hand and we notarized the title and the Bill of Sale just for fun.

06-21-2007, 10:57 AM

When I bought my 93 RSA I brought a bank cashiers check in my name. When I agreed to buy the car, we went to his bank, had his bank call my bank and verify that the cash was there and available. I had the phone number, but also told him to look it up if he wasn't comfortable with me suppling the number. When everything was verified, I signed the check over to him, he signed his docs and reciept and had it notary wittness everything. Worked very well.