Dan--
Where do you or the buyer regularly bank? Here in northern CA, I believe there are bank branches in supermarkets that have Sunday hours (BofA, USBank). Otherwise, cash is good.

..Actually, this is not such a bad idea! But we bank at credit unions and our house account is with Wasihnton Mutual and around here the only bank bracnh in a supermarket is Wells Fargo. BUt I will see if there is another type aroundm thanks

CRH911S - "Your making an excuse for yourself and your girlfriend. Cash talks and anything else requires deligence on your part. You can take a cashiers check or personal check. The key here is the title and car don't change hands until the funds clear the bank and the money is credited to your account. Am I missing something here?"

Not sure what you're saying? There are no excuses, it's her car, she has to do the transcation and her job is not the kind that she can take a day off at random, people realy on her daily. Besides, even if she could, why would the seller give her a check for multi-thousands of dollars, take no car, no title and just wait around until she told him it had cleared the bank and been credited to her account? The security concerns cut both ways for buyer and seller I mean. Am I missinbg your point?

John,

Python is a very good idea!

Not a bad thought. It's really a shame we have to think this way. On a vehicle sale, I would be likely to let the whole transaction happen with plenty of ID and plate numbers of any cars used to bring buyer to pick up the car. You would hate to have the thing unwind due to insufficient funds, or worse, but the police would handle it if it did. You know, if a propective buyer is that bent on getting a car fraudulantly, he will likely just steal it. I am more afraid of showing a car for sale than I am selling it.

John ,have brought mine to all my car and motorcycle purchases

.357 COLT

I just sold my Boxster and the buyer had his account at my bank. He wrote me a check and we did the deal at the bank. We both went to the teller window. I cashed the check and then deposited the cash into my account directly. I never saw the cash as the teller did it all..

Because of the amount (> $20K) there had to be manager approval so a supermarket branch may be tough if it is over the window teller's limit. There was of course the IRS/Homeland security form to fill out but that's no biggie.

Because I "cashed" the check and deposited cash, there was no hold on my funds so I could by my 911 the next day using a certified check from the same bank at the same time...

This method seem to work well but did require a work day...even if you dont bank at the same place as the other party, if you can take the check to tha bank with the other party and then cash his check while at the ame time, have them issue you a certified check to you, you could be assured it is a real check.....

Juist my 2 cents but if the amount is large, taking a partial day off from work seems worth it for peace of mind....too bad society has gotten beyond a hand shake & personal check.....

I agree with Milt, I am uncomfortable with showing a car from home. There are some alternatives. Arrange to meet at a shop, dealer, bank, or some other neutral place. Remember, if he has your home land-line phone number, probably Google will link to Mapquest directions to your doorstep. I also write down license plate numbers and occasionally the public VIN. (See my PS.)

I think a regular commercial bank is the right place to do the money and title transactions. Much paperwork requires a Notary, every bank has one.

Have all the necessary paperwork; title, lien releases, odometer statement, bill-of-sale, emissions information, etc. Most forms are available online from state DMV. In Colorado it is:
http://www.dmv.org/co-colorado/department-motor-vehicles.php

In California it is:
http://www.dmv.ca.gov/pubs/brochures/fast_facts/ffvr32.htm

(I just posted this elsewhere so it was handy)

All photocopies should include the buyer’s and seller’s driver’s licenses.
Here is a good Pelican link:
“Purchase agreement”
http://forums.pelicanparts.com/porsche-911-technical-forum/148416-buying-process.html

The biggest safety is to learn who you are dealing with. If someone is too secretive – red flag. With any transfer – dot all the Ts and cross all the Is.

Best,
Grady


PS: A few years ago I was working on Chris’ race kart and a nice looking gray hair lady pulls up nearby and walks over to a neighbor’s house that was for sale. After a while she came by and asked if she could use our restroom. I escorted her to the hall lavatory and she asked if she could use our master bathroom – strange – but I complied. Red flag – she didn’t fully close and latch the door. I wrote down the license plate number. Upon inspection, about half of the medications were missing. I eventually got about $275 restitution from the courts because she pleaded guilty.

You never know.

G.

IMO, if someone would only deal with cash, I'd feel like maybe I'm the one getting ripped off...

Excellent point. The trust goes both ways. I don't want "my" buyer to think he's dealing with some scheister because I want cash. But I've got a clean ass car that looks too perfect for its age and he is understandably curious how that is. I ought to just tell him I am anal as hell about the car and that's why it doesn't have a mark on it. Plus I've had two people already bail out on us so I want cash to have it over and done with...I am just going to lay my cards on the table with this guy and see what response I get. Thanks everyone for the advice, links etc. This turned out to be a pretty complete thread on the subject. -Dan

Just to add:

Most if not all cashier's/bank checks also have counterfeit measurers. The checks should have some sort of (real or artificial) watermark on the back and a micro-printed edge on the front, both of which cannot be duplicated. Also, the first thing to look for on a cashier's/bank check is a perforated edge on at least one side. If you cannot find one, it is fake.

Another often-overlooked payment method is the bank wire transfer. It is very safe, and is virtually counterfeit -proof. A lot of people get nervous giving out their bank account number and bank routing number, but it really is no big deal. Those are the same numbers that are on the countless checks people write and hand over to strangers every day!

SmileWavy

WARNING *** MAKING MISCHIEF *****
 

And if you want some fun, put a bit of spray starch on the bill and iron it. Give it to someone else. When the store markers it, guaranted positive hit.

ON A MORE SERIOUS NOTE
 

When I bought my 911, I asked if Cash was ok to the seller. I figured it was easier and safer for both of us. Other than the drawn out counting, it was not that big of a deal.

What good are banks? they sit on your money for a week if they choose to and on top of it the seller is afraid to accept a cashiers check have the time.

I know they play a critical role in our economy, but honestly with millions of investment avenues these days, and the crappiest intrest rates ever, I see them as dated institution.

I used cash for my Pcar. I had no problems when me and my buddies showed up to pay for it. He was a bit uneasy looking at all that beef, but when I explained I had cash the buyer seemed happy enough.....

end all best way to pay is cash

my 2c

Cash is obsolete.

Banks automatically put long hold periods (often 2 weeks) when you deposit large checks. If you call the branch you can get them to release the funds sooner (usually 3-5 days after deposit). A bank employee verifies the check has cleared and then removes the hold manually. Banks get away with the long hold periods because no one calls them on it.

Have the buyer meet your girlfriend at her bank with cash in hand. Verify that the large bills are authentic and then make the deposit to her account. One long lunch is all it would take. If this doesn't work have your parents or her's help out. If that fails consider a trusted friend.
I understand your caution but not being able to leave work under any circumstances is making this more difficult than it needs to be.
I didn't mean to come across they way I did. Please accept my apology and good luck.

I just bought a 914 about a week ago and used 1K money orders from Citibank. I was going to use a bank cashiers check but was told that if the deal didn't go trough I would have to have the seller sign the back and re-endorse the cashiers check back to me (hell no). Anyway, you take a day off when buying a house, why not for something as large as this too?

The seller and I both bank at BofA so we met there. I filled out a transfer slip and poof!, my account got lighter and his got heavier in the blink of an eye. Made it easy, safe, and almost painless.

On the flip side, how can one be assured that the seller is actually the owner of the car? eg what if he stole it? Is the 'pink slip' enough evidence that it's his? Can these be forged?

thanks
mike