? For those who have recently bought or sold a vehicle

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jomoper

jomoper

Mope or Nope
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Curious what forms of payment y’all might be using these days. Since I’ll be parting with my car in the near future.
Would like to hear everyone’s experiences good or bad about modern forms of payment other than cash.
 
Cash, of certified cashiers check from a reputable bank. If you accept a check, the vehicle DOES NOT leave your possession UNTIL the check clears!!!!!
 
Cashiers checks can now be easily faked. Take the check to the bank it was drawn on and verify it prior to signing it. You will also have a video record if you do the transaction in a bank.
 
Bank to bank wire while you are at the bank is an option.
 
I just bought one. The PO and I went to my bank and got him a cashier's check.
 
cash is always king especially if you are talking a few grand up to 10 K IMO. I think the banks get wierd if you ask f or a 10 K withdrawal right?

P.S. yes a gun on my hip and I wills hoot someone in the *** over 2 grand :)
 
Last one I sold was for cash on pickup. And bought one using Bank transfer.
 
Steve welder said:
Is this Venmo I hear so much about safe?
Click to expand...

Venmo is a division of Paypal where funds are exchanged but no fees accompany the transfer. There is little or no buyer protection.
It's more for situations where you go to lunch with à few friends, one person pays the bill and the others pay you via your phone number through Venmo for their food.
It's convenient if you know who you're dealing with can be trusted but I personally wouldn't accept it for a large purchase.
 
Cash only. However, I sold my 69 'vert to a member here, and we went to his bank and he bought a cashiers check in my presence, I accepted that.
 
depends how much money we aretalking. wire transfer is propbably the safest. anything check related is faked too much and even too much cash is faked these days.
 
CudaChick1968 said:
Venmo is a division of Paypal where funds are exchanged but no fees accompany the transfer. There is little or no buyer protection.
It's more for situations where you go to lunch with à few friends, one person pays the bill and the others pay you via your phone number through Venmo for their food.
It's convenient if you know who you're dealing with can be trusted but I personally wouldn't accept it for a large purchase.
Click to expand...
Well you wont have to worry about lunch, cause when you visit the big apple, lunch is on me
 
I bought one last year and the seller wanted cash. It was in the teens and I was uncomfortable carrying that much money. Don’t know if I would do it again.

if I was selling I would accept cash at my bank where I didn’t have it at home.

Most banks need a couple day’s notice to get that much cash.
 
I met the buyer at his bank and had them issue me a bank certified check, and I handed the title to the bank. I then cashed the check at the bank before I left and all was well.
 
I put as much of it on the credit card I could (to get the cash back) then cut a check for the remaining 20 grand or so
 
I prefer to exchange in Ruble - Russian Federation. Putin will see to it you get your money...

From strangers, I want Ca$h, or the car doesn't leave till the checks clear. If I know and trust the person, other arrangements can be made without the wait.
 
i'll say this, no matter the route you take, make sure that the buyer meets your criteria for the transfer of money. letting them dictate how the money gets done can leave you open to getting shafted.

obviously in person at a bank or cash is always best, and i understand that there can be constraints on that with people being from another state or being uncomfortable carrying a large payload of green. but if the buyer is serious a small inconvenience of adapting to the rule of engagement should not sour a deal what-so-ever.

GLWTS!
 
I appreciate the reply’s . I was hoping to hear some positive experiences with cashless payments.I recently purchased a truck myself. And since the owner wanted cash. I wound up drawing out a somewhat large sum of money. Felt awkward carting around a lot of bills. Plus the bank ran out of hundreds. So I had a lot of 50’s. I also remember that back when I purchased my Dart. The previous owner told me he was held up on the way to the bank after the transaction! I always felt bad about that.And I think he somehow thought I had set him up. What I think is that when you walk around with a large sum of money . You somehow carry yourself differently. And that thieves can spot that. Anyhow that’s what I’m trying to avoid.
 
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