What's the best way to sell a car overseas?

[Christien]

I've got a buyer in Germany interested. What's the best way to exchange car and money, so that we're both protected and comfortable?

Thanks.

[Garp]

I bought a couple of cars in the US but I came over to make the deal, a handling agent took care of the rest. I think it would be best practice to have him wire the money as soon as his handling agent or you have delivered the car at the port. There is a fair amount of trust involved in any case.

[71T Targa]

I think this is what usually happens;

He sends you a check for the price of the car plus the cost of shipping.
You cash the check.
When his shipper arrives, you pay him in cash from the check.
Once the shipper has the car you realize the check was bogus.
He has your car and you've paid to ship it.

This is how I see it playing out anyway...

[Garp]

Originally Posted by 71T Targa

I think this is what usually happens;

He sends you a check for the price of the car plus the cost of shipping.
You cash the check.
When his shipper arrives, you pay him in cash from the check.
Once the shipper has the car you realize the check was bogus.
He has your car and you've paid to ship it.

This is how I see it playing out anyway...

That reminds me of a colleague who sold a 6-months old M3, got paid by check which he cashed. Before doing so he verified with bank that everything was ok which it was. He had his money on his account when suddenly it dissappeared, the check was bogus and it took the bank a couple of days to find out.
Luckily for him the police found his car back, sitting in a container about to be hoised on board a vessel in Antwerp. He used-up all his luck on that one.

[lin7310948]

my sell was very easy. after considerable correspondence..email..the buyer deposited the funds into my account. the car hauler came two or three weeks later. i gave the hauler the signed title and bill of sale and away the car went. simple and easy but probably most do not nor or will not be so lucky as to transact this way. by the way i did not know the buyer and he did not know me before the deal.

[Captain Ahab Jr]

I too would be interested in the best way, I don't want to sell but buy as I'm on the other side of the Atlantic.

I have bought cars without seeing them first from my home counry but they have all had a pre-purchase inspection by a specialist and a friend or relative has exchanged the mone for the car. Easy deal for both sides.

Are there agents for this sort of deal or can the buyer pay a shipping agent who then pays the seller when collecting the car?

It's always been the money exchange thats stopped me from buying so there must be a way that works for both sides that doesn't involve the buyer flying over and paying in person or for the seller being worried he's just accepted a bogus cheque.

[javadog]

You can buy or sell through a broker or escrow agent. If you are worried about the details, it's always good to talk to an attorney and draft up some appropriate documentation.

The only secure means of transferring money is by using a bank to bank wire.

I've sold 2 cars to guys in Europe. One went through a broker and the other was more of a handshake deal. Peoples comfort levels vary...

JR

[Christien]

Thanks for the input, guys. I'm happy to do the handshake style, but that's easy for me, because money ends up in my account before I ship the car, so I'm the safe one. I can completely understand a buyer who wants more protection than a signed bill of sale - I would too. I'll look up some local brokers or escrow agents.

[GWN7]

Bank transfer for the money end. His bank sends your bank the money. He dosen't know your account and you don't know his. So your both safe on that matter. This ensures the money is legit.

His shipper should arrange to pick up the car and take it to the port of export to be loaded and exported. Probably Monteal. The shipper should contact you to give you details of what they need (amount of gas in the tank ect.)

All you have to do is hand his shipper a bill of sale and a copy of the title when they pick up the car.

Take lots of pictures of the car before the shipper takes the car incase they damage it in transport.

[Hugh R]

Ditto on wire transfer. I sold a car for $250,000 that way. Flawless.