Selling camaro ss to out of stater.....questions

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Guy on ls1tech is buying my ss. He sent payment overnight and i will have it today. He sent me a check from a credit union. I told him i will not release the car till the money has cleared. He is paying a shipping company to pick it up and deliver it to him in kansas. Anything I need to do to try and cover myself so he cant come back and reclaim the money some how after he gets the car? I got a pm on ls1tech from somebody else that said

"I know the person you are selling your camaro to. He was going to buy my old camaro and it turns out that he said everything was cleared and then ended up having no money so i was out almost $500 in getting the car returned to me. BE CAREFUL. i would take cash but its your call. Seems to be unreliable when i dealt with him. SOrry for the random message."


I have never sold a car this way so I am a bit concerned that he can some how reclaim the money after he gets the car like putting a stop payment on it or something.
 
I would return the check to him or at least ask you bank for help. Most of these are fraudulent. Let us know how htis turns out.
 
When you deposit the check in your account wait until the check clears and YOUR bank says the check was good and the money is yours. I'd ask your bank this question. Maybe others have better advice.
 
Is it a cashier's check? If so, that is pretty much same as cash.
 
Cash is King.Have him sign a letter stating that it's sold as is,all sales are final,no refunds under any circumstances.Buyer to release vehicle 2 weeks after funds have cleared.
 
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With that warning, I'd just cancel the sale outright. He's obviously a scammer, who is going to send the guy to pick up the car before the payment arrives/clears, and either take the car, or make YOU pay for his costs if you make him wait.

He'll say, well, I got paid to pick up this car atr this time, so I either take it now, or you're paying for me to wait.

If this guy didn't have ANY money to buy someone else's car recently, how the heck does he have to money to buy yours?

I'd get the car OUT OF SITE until the payment clears - who knows what kind of people he has working with him!!!!
 
Thanks guys. I am going to take the check to my bank and see what they say. I have talked to him on the phone and also have his fax number. I think this deal will depend on what the bank tells me. I am an easy going person but it is not beyond me to hop on a plain and pay a very rude visit that this guy will not enjoy any time soon if he tries anything stupid.
 
Bank wire transfer!! i have sold many of trucks and that the only way I roll for payment. if they can send a check, they can wire the money.

I also would hold the title and send it yourself not with the car.....Just incase something goes silly in the transaction
 
If it's a cashiers check from the bank, it'll be like cash. It will have a phone number to verify. It will take time to clear, but it's clearing from the bank to your account, since the transfer from his account to the check took place when the cashiers check was made.

Yes, take it to your bank, they will explain everything.
 
Originally Posted By: bepperb
If it's a cashiers check from the bank, it'll be like cash. It will have a phone number to verify. It will take time to clear, but it's clearing from the bank to your account, since the transfer from his account to the check took place when the cashiers check was made.

Yes, take it to your bank, they will explain everything.


I bought a car from a guy in another state once and he did not like to take cahsiers checks because, according to him, some states allow you to put a "stop payment" on cashiers checks. Some do and some don't according to him and he didn't feel like keeping up with the laws in different states. He preferred cash first, postal money orders 2nd. I had never heard of a postal money order but apparently you can go to a USPS branch and buy money orders there. He considered them as good as cash. I don't know much about them however.
 
Best way is a cashier's check. Wire transfer works well, but you give up your acct# and I'm not 100% comfy with that. Cash always works, but from a buyer's standpoint.. there's no paperwork trail.
 
Wish I had the money, I'd like a Camaro SS.
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Cash and bill of sale. Cashiers Checks can be counterfeit as well. There's way too many scams of "I'm sending you a check.....and my shipper will pick up the vehicle". With such a large purchase, he would want to drive it and see it in person prior to spending that much $.
 
Take lots of pictures when the car is picked up. Any damage to the car after it leaves your possession is on someone else's dime.
 
Ok the check is a cashiers check. I just called the number on the check and also double checked the credit unions website to make sure the numbers matched and they do. The credit union took the check number, my name, the amount of the check and the person who issued the check and verified that it is a legit check. Next I am going to my bank in a few and go over it with somebody there. And yes he sent a bill of sale with "as-is" included in the bill of sale. He also included all of his info including his drivers license number in the bill of sale. I think this is legit but i will wait to see what my bank says.
 
Cashier check is fine, if it is a personal check tell him you need to wait for it to clear first. If he isn't willing to way tell him to buy from someone else.
 
His bank verified it was a cashiers check and legit. My bank verified it and said it was good. They did tell me to wait 7 business days to be 110% sure before I released the car to the shipping company. So I am pretty confident this deal is good.
 
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