Team Chevelle banner

Safest form of payment for selling car on ebay

3K views 23 replies 15 participants last post by  Jasons 69 Chevelle 
#1 ·
I just sold my first car on ebay to a non local buyer. So cash is out of the question. He doesnt have paypal and i will not except a cashiers check. Whats the next best option? Wire transfer? Anyone familiar with wire transfer, ive never done it.
 
#2 ·
I did a bank cashiers check. Was on the same bank I used, so it was a no brainer. And I need all the help I can get.
I've sole and bought big ticket items (10k+) this way.
If this was wrong, someone chime in and let us know. I always thought that is the safest way other than cash and have the bank verify the bills up front. I also did this on one transaction.
 
#7 ·
Thanks, it is over 10k so im just going to tell him its wire transfer or he can come pay cash himself. Im not willing to take any risks on my part with that amount of money.
 
#12 ·
I worked at a Chevy dealership many years ago, and crooks scammed us out of $7,000 worth of parts with a fake cashiers check. They got a REAL cashiers check from a local bank for $7 dollars (yes, seven dollars) and then forged the amount to look like $7,000. I had to go to court to testify when they got caught and arrested. I saw the check afterwards. They did a masterful job on the forgery. They had scammed a tire wholesaler out of $30,000 with the same tactic, and a host of other victims I don't recall.

So no, I wouldn't say cashiers checks are the safest way. They can be forged and/or faked.
 
#14 ·
Well pretty much any document could be forged I suppose. that means checks, cashiers checks or money orders aren't fool-proof.
Wire transfer seems pretty safe. I would think you could hold the car for a week or so and make sure everything settles out. I was not aware that a Bank Cashiers Check could be cancelled later. that doesn't make any sense to me as nobody would use that method as it wouldn't ever be safe. Call your bank and ask them about that. I would think the buyers' bank would send a bank written cashiers check to your bank and if anything is fishy they can back you up.
Most of the scammers try to use the fake Money Order method or tell you they are wiring you money via Western Union and are sending "extra funds" to cover shipment of the car or other reasons. they then try to get the seller to send some of the extra money to a third party via Western Union. you never actually receive any funds from them and send money to them instead. I received one of the fake "money orders" before and it was a horrible attempt. It was easy to tell that it was a fake check.
 
#17 ·
an escrow agent is usually an attorney who is obliged to hold the money and the title until both parties confirm they are what they are and are satisfied. they the release both.

there are escrow services for this sort of thing.
 
#23 ·
I sell them face to face...........with a small handgun in my back pocket and never by myself always take someone with me with address written down just in case.

These day you can't be to careful
 
#24 ·
USPS money order.
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top