Selling Car - Personal check OK? (credit, compare, rust, legal)

[burdell]

Originally Posted by pcity

Ask them to get a cashier's check from their bank.

I've read stories of some internet scams using bogus cashier's checks. Is there some way of verifying that type of payment?

[tigerclaws]

Tell him to transfer money in your account or get a certified check (which has its own risks). Personal checks--never.

[skinnayyy]

Originally Posted by burdell

I've read stories of some internet scams using bogus cashier's checks. Is there some way of verifying that type of payment?

Call the bank that the check is from. Don't use the number on the check but call their actual number and verify it was drawn from them.

[TheViking85]

Old thread but for reference, any form of payment outside of cash can be revoked in a 10 day period, including certified checks from banks, money orders, wire transfers, etc etc etc.

If selling a car for an amount higher than what I'm willing to lose (which is really anything over $100) I would accept nothing else than going to the bank with the buyer and receiving cash directly from the bank teller. If that's too much of a hassle for the buyer, I guess they don't want the car, and yes, I would most definitely be armed.

[skinnayyy]

Originally Posted by TheViking85

Old thread but for reference, any form of payment outside of cash can be revoked in a 10 day period, including certified checks from banks, money orders, wire transfers, etc etc etc.

Just out of curiosity, where did you get this from?

[C8N]

Sure... I'll take a personal check.
But he won't be getting anything from me until funds are verified in my account.

[MediocreButArrogant]

Originally Posted by burdell

I've read stories of some internet scams using bogus cashier's checks. Is there some way of verifying that type of payment?

These days, it is not unreasonable to ask to go with someone to the bank and watch them get the cashier's check from the bank teller. I had a car dealer do that with me four years ago in Las Vegas - not surprising since there are a lot of scammers there. I did it just the other day to someone who bought my wife's old car.

For someone not local, I'd consider using an escrow service.

[28173]

Originally Posted by Lindsey_Mcfarren

I wouldn't even take a certified check, there are lots of fakes ones about today.

Cash and only cash for me thanks.

Cash can be fake too...so a cashier check deposited at the bank, and after that, you'd also sign the title in front of the bank notary.
This is how I sold my last cars: one title was signed in front of the notary at my bank (after deposited the cashier check) and the other at seller bank (after a received a casher checked done in front of me) and I signed over the title in front of seller bank notary.

[rbohm]

if you know what bank they use, you can try to find a branch in your town and meet them there and have them draw the money out from that branch.

[d4g4m]

And don't forget the title with the transaction.
Do not complete a sale if a title can not or is not produced.
If there is a title, is the sellers name on the title. If not, ask how they have possession of the vehicle and do they have legal authority to sell the vehicle. In other words, don't buy a stolen vehicle or one that has mechanics liens on it.