Hello,

I am selling my 94 gsr and there are people stopping by shortly who live a couple hours away. He wants to know if I'll accept a personal check + cash for the car and let them take it home today.

Sale price - ~$6500

He wants to give me $1000 cash and a personal check for the remaining money (~$5500) and then get the title notarized today and let them take the car with them.

Whats your guys input?

If I remember correctly, a bad check over $500 is considered a felony and the Feds will be busting down his door quick.

He'll be here in a couple hours (or less) and I'm wondering what to do. I talked to this kid and his father and this is his father's idea. I imagine his father works throughout the week and wants to get everything taken care of today. He said he can show me his checkbook and give me his drivers license information.

I was wondering if I should type up some type of contract or something..? I dont really know what to say though.

Thanks guys!!!

 

no, dont take a personal check unless it is certified by bank. Sure you could after them, but how long would that take, and you still might not get your money!!! Dont take a chance.

 

wait till it clears then give him the title

 

and dont let him take the car home, right? cuz if something happens to it, im S.O.L.

*sigh* i hate selling cars

 

hey thanks, i called a buddy from work and he told me the same thing. sure, its a felony to bounce a check over $500, but, that doesn't mean i'll get my money. he could chop my car, sell it and leave the country and im out $5500.

thanks for the advice

 

Ask for a money order or cashier's check from the bank. Can't go wrong with that. If they want it bad enough they can wait.

 

no dont take a personal check.. take either a cashiers check, money order, or go to the bank w/ him/her and have them get the funds there....if your taking cash.. make sure you count all the billz and verify they are real and not counterfeits.. or better yet go w/ him/her and just have him/her get the cash at the bank too...

 

Thats what I was thinking man.

Well, they decided they want the car... selling it for $6300... I told him I would have to have the money in full, blah blah. He gave me $100 deposit today and he's going to check on doing an electronic transfer... anyone know whats involved?

He's got the money in the bank, but, whats the quickest and easiest way for me to get it? I'm going to deliver the car once I get the money... He wanted me to drop it off and he'd just give me cash.... naaaaah... I dont think so. I want my credit union to confirm the money is in my account before I sign off on the title and before I deliver the car.

 

i would suggest taking check or cashiers check....wait for it to clear then give him your car and title.

best thing to do is just call your bank and ask them what steps u should take....they know best


[Modified by Cramerox, 11:16 AM 5/19/2002]

 

write up a contract stating the sale price and all that stuff and that you will mail him the title when the check clears and have both parties sign it. This is how I did when I bought my gsr.

 

Personally I would also accept a wire transfer.