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Smart Shopper Questions About Private Sale Transactions
231 messages, Last post on Sep 28, 2009 at 8:28 AM
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I'm selling my Infiniti to a person in another state, they want to pay me with a bank check when they come to pick up the car tomorrow, which I won't be able to verify until Monday. Can I/should I hold the title until the check clears? If the check is fake, would I report the car as stolen?
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Replying to: zbest855 (Feb 09, 2008 1:47 pm) Z |
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Replying to: manku (Feb 09, 2008 8:58 am) But, other than wheels/tires, what parts would he take off of it that would be missed? I mean, the car is totalled. I assume its not driveable. So would anyone really miss a short shifter or CAI? I would tell him to bring over his wheels and tires and you'll give him your stock ones. Everything else he should just pull off the car and hold onto it. No need to mention anything to the insurance company. Heck, even if by some chance they say something, my response would be "gee. must have been knocked off in the accident. maybe its out there on I95." If he doesn't come through with the purchase, you could either sell your car with those aftermarket wheels or sell them separately and buy new stock wheels for yourself and possibly come out ahead (assuming the aftermarket wheels are more expensive). |
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Replying to: manku (Feb 09, 2008 8:58 am)  Besides, the insurance company doesn't want his car. He could easily buy it back from them for 10-13% of the total compensation. Then he could strip off the parts at leisure and junk the car--perhaps not for what he paid, but not too much less. So he's not being entirely up front with you here. I wouldn't let anyone lay a finger on your car until it's paid for. |
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Replying to: Mr_Shiftright (Feb 13, 2008 6:52 pm) He calls me today and I tell him I need to be protected - $1000 deposit, and copy of drivers license, pink slip and all his insurance contact information (farmers). He is going to scan and email tomorrow morning. He wants to swap out parts, farmers picks up car, then sends me check. He says farmers is settling for 22k+, and will pick up car later this week. What is my financial risk? If he disappears, can't I just say the car has been stolen (which it has). I'd like to dump the car - it needs new tires and brakes (that $1K), and buy a new one. I won't get close to this price on a trade in. Thanks again.
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Replying to: manku (Feb 13, 2008 8:56 pm) |
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Replying to: manku (Feb 13, 2008 8:56 pm) And what if someone screws up your car removing parts and then says "oh we don't want it, it doesn't run right?"
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Replying to: Mr_Shiftright (Feb 14, 2008 3:15 pm) This is not the insurance companies first rodeo, they know how the car is equipped. They people good money to make professional evaluations of these cars, along with pictures. I think you are asking for trouble myself. |
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Replying to: middleageguy (Feb 01, 2008 6:36 am) |
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Hello, I need to sell my car. My question is this...my car is financed, so I don't have the title. I need the money from the sale of the car to pay off the loan to get the title. Can someone please tell me what the process should be in a private sale? I mean...will a buyer give me the money without me giving him/her the title right away? Can I even do that legally? This is my first car so I'm very new to all of this..thanks for anyone who can help. Thanks |
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