PDA

View Full Version : could use some advice.



2Kblacksleeper
10-26-2010, 01:22 AM
How do I go about selling my car to someone out of state and protect myself?

How do I go about getting the deposit to hold it?
the remaining will be cash on pick up.

I don't use paypal so that's out. I've got the clear title ready to go.

I've just never sold a car like this so I figure I'd ask the more knowledgeable people in here.

Thanks for the help in advance.

fasthawk
10-26-2010, 10:50 AM
Use the postal service, get a deposit and a few hundred dollars and tell him it is not refundable.Keep any numbers that call about the car and tell them you have sale pending.If you are worried about fake money when you are at the bank getting tittle done they can check the money. You are in a no lose spot.

cstreu1026
10-26-2010, 11:14 AM
Is the buyer picking it up in person or having it shipped? If they are shipping it I would talk to your bank. They may able to help (but maybe not willing). When my father-in-law sold his RX-7 it was to a guy Washington state. His bank contacted the buyer's bank and handled the transfer of money

holeshot
10-26-2010, 11:15 AM
Do you mean protecting yourself from a bounced check or something?
Typically if the person is interested, they will give you a cash deposit. Is the person buying sight unseen?

I live in Indiana and have bought and sold out of state.

I recently sold my Mustang to a guy in Ohio. I asked him to wire the money directly into my bank account (the buyer has to be trusting). That way I knew the money was good and it was in my posession. I paid the $20 fee for them, but it was peace of mind for me to know that I had the money and it was legit before I handed over the keys. Before you start to worry about them getting your bank information and being able to drain your account...they cant. All you have to give them is your account number and your banks routing number. (which if you didnt know, is printed on the bottom each and every check you have in your checkbook.) No one can take a cent from your account using those numbers unless you personally authorize it.

I just went that route because it was a large amount of money, and in this day in age you cant trust personal checks, cashiers checks, and sometimes cash!

Either way, once you have the money, since you have a clear title all you have to do is sign it over and hand over the keys. Depending on the state, you may have to get the title notorized, but I dont know if any states still do that.

The buyer will have to get the car inspected by a deputy in their state to do a title transfer, but that isnt something you have to worry about.

You might want to ask them to bring a license plate for when they take it home and keep yours.

Good luck with the sale!

marauder
10-26-2010, 11:22 AM
From a liability standpoint...

Don't let the tag go with the car out of state, remove that from the vehicle. Some people bend them and throw them away, but it is best to return it to your dmv and drop your registration on the vehicle while you are there. Also if you have insurance on the vehicle, call and drop it the moment the vehicle is out of your possession. If someone has an accident in the car and you have coverage on the car, they can file a claim on your insurance.

bestracing
10-26-2010, 01:13 PM
Depending on the state, you may have to get the title notorized, but I dont know if any states still do that.

You might want to ask them to bring a license plate for when they take it home and keep yours.

For Ky it has to be notorized. Also good advice on the plate even when trading the car in and you live in Ky. You can get charged an extra years worth of taxes if you don't turn it in in time as the dealer will just keep it tagged in your name as long as they can

marauder
10-26-2010, 01:18 PM
Well for our case, my mom sold a car to someone in Ohio, like two years later she was paying her taxes at the DMV in Boone county and they notified her she had a warrant for her arrest for unpaid parking violations or something to that effect. She asked for what vehicle, they mention the one she had sold a long while ago...Luckily she had dropped it with the DMV but something in the system had not updated, Needless to say the chages drop and they were able to pursue the new owner.

The insurance happened to a friend of mine who had sold his Cutlass 442 to a guy, basically had his wife notarize the title and sent him on his way after money was exchanged. He goes out hotrodding all night, drinking, ends up totaling the car...and came back on his insurance and filed one hell of a claim for all injuries, the car, property damage, etc... His insurance dropped him after that.

INSANEBA
10-26-2010, 03:15 PM
Some people shoulda been a blow job, and not conceived...

sean
10-26-2010, 03:34 PM
I live in ohio and keep my tag. I don't drop it off. usually I am getting another car soon and it's cheaper to transfer tags then buy new ones.

jack90gt
10-26-2010, 03:37 PM
I would say get a deposit, tell them to bring a plate or if they are shipping then keep your plate and have them wire transfer the rest of the money to you unless they are picking up in person and then cash is king...

2Kblacksleeper
10-26-2010, 04:02 PM
Thanks for the info so far. He has not said anything about a shipping company. He said he lives in Texas and is in Indiana in business. He sounds Texan.

I was just not sure how to get a deposite. I always keep my tags. I didn't know about letting the dmv know I sold it so it won't be In my name. As ways cash is king. I can borrow a marker from work to test the bills.