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Selling Help...

This is a discussion on Selling Help... within the Vehicles For Sale / Trade forums, part of the Sponsors Group Pricing and Parts Review category; I know this may not be the right place to post this, so I'll apologize up front to the site ...

  1. #1
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    Med. Dark Purple Metallic
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    Selling Help...

    I know this may not be the right place to post this, so I'll apologize up front to the site administrator right now, but maybe it can help other sellers as well.

    I really need some advice by next week. I have have made a deal with someone who wants to buy my car, and they seem legit but they are on the other side of the country and I am REALLY afraid of getting ripped-off (and they answered my ad on Craigslist...). They're willing to buy the car sight unseen, and I'm obviously not going to take a personal check, and I've heard that cashier's checks are now being readily forged, so how can the funds be transferred so that I can be sure I'll get paid? A friend said the money can "be wired" directly to my bank, but what does that mean? Is it something that will require my personal bank info.??? And can it be done quickly? I will not release the damn car until I know the funds are in the bank AND are staying there -- no bounced transfers! And I no longer trust Paypal, since I am already constantly getting fake Paypal spam letters, and I've heard there are fake Paypal "home" sites. so what the hell do I do???

    I know that some of you guys have dealt with this before, so anything you can tell me that would help would be greatly appreciated. Thanks...!

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    Member Lawnman's Avatar
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    lookin for a ws6

    You can wait until the check clears before giving them the car. Any reasonable person would understand this.
    I have sold 2 cars sight unseen, both of them did a wire transfer. All they need is your account number and a tracking number to wire funds. I also was leary when someone wanted to buy my car and wire funds into my account . My bank assured me that the wire transfer cannot be reversed.

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    mystic teal metallic
    1998 Z/28

    Talk to your bank, they can fill you inon a transfer.Its real quick, clicks of a few buttons.
    There is always good old cash, Are they coming to pick up the car? Or is a shipping co. coming to get it.
    If its a big national bank there check is from, + you have a branch near you , you could cash even a personal check on the spot,Its from their bank, their customer,
    + they know the funds are there. But Ive done it in the past + wiring is the best way.

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    Med. Dark Purple Metallic
    1995

    Thanks to both of you for that info... but just so I'm sure I understand -- the wire transfer is an "instant" (like one day) thing?

  5. #5
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    Med. Dark Purple Metallic
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    BTW, Mystic, coming originally from the N.E. area myself, I couldn't help but think of the Mystic Bridge before I thought of Mystic Teal...

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    lookin for a ws6

    Wire transfers usually take 24 hours { 1 business day } . If you both have the same bank , it is instant. Atleast that was the way it was for me.

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    Med. Dark Purple Metallic
    1995

    Thanks Lawnman... I'm glad you told me that, as someone said it might just be a few hours. I am on my way to my bank right now (Wells Fargo, a big one out here...) to check with their own peculiar wiring details. I asked someone the other day at their bank, but they were so concerned about their own liability that they were afraid to give me a definitive answer on whether it was a 100% safe method.

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    lookin for a ws6

    I can only tell you what my bank told me. Good luck.

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    mystic teal metallic
    1998 Z/28

    I was very leary when i did it also,+ after looking into it I felt safest with wiring it.
    We also have wells fargo in New england so if it can be done thru the same bank ,its just that much better.
    I don't remember a 24hr wait but it was a few years ago.

  10. #10
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    Med. Dark Purple Metallic
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    I just came from Wells Fargo --- the lady there said there is a 24 period in which the transferer can call back his funds -- so it's definitely important to wait! I'm going to have this guy wait two days, just in case.

    Sad thing is, this entire sale was so that I could buy an F-body convertible -- I had found a mint original-owner '95 Formula convertible in San Diego, but the seller sold it to someone just when I found a buyer for my car. If anyone knows of any original-owner affordable LT-1 convertibles on the west coast, let me know. Don't think I can afford an LS-1 yet...!
    Last edited by F-body fan; 11-25-2006 at 03:04 PM.

  11. #11
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    mystic teal metallic
    1998 Z/28

    There is a one owner 99 firehawk convert (very rare)
    Black w/ white top, auto,71K mi, near me, but unfortunately, its on the wrong coast.But then someone is buying yours,cross country.
    well at least this would give you something to compare other ones to.
    He wants $11500 but has been for sale for at least six months in the want ads. Def needs a price adj. you shouldn,t have a prob finding a lt1 conv, at least at this end they are reasonably plentiful + seem to be actually very inexpensive. good luck.

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    Med. Dark Purple Metallic
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    Thanks Mystic. That actually seems to be a very reasonable price for that Firehawk, and I could just about afford it, but I am now thinking about maybe using the cash I get for my car to pick up one of these bargain SoCal cars to flip so that I could have a few more thousand to play with. Every once in a while at the cruise nights out here, a great deal shows up cheap --- the most amazing having been a totally original (even the smog equipment!) one-owner '67 SS396 Camaro for $14,000... such deals are becoming rare, but they do show up if your patient.

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