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Selling car on Craigslist. What is the best payment method?
Posted by: grad
Date: March 28, 2007 08:47PM
I am selling a car on Craigslist. What is the best payment to receive from the buyer (besides cash).

Thanks!



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Re: Selling car on Craigslist. What is the best payment method?
Posted by: Racer X
Date: March 28, 2007 08:48PM
just cash. Unless you go to his bank and cash the check with both of you there.
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: DavidS
Date: March 28, 2007 08:51PM
Racer X just beat me to it. I'm not sure how much you are selling your car for, but when I sold my Camary a few years ago, I had the buyer bring me $8000 cash. He was going to do a bank check so I just asked him to have the bank give him cash instead. He came to my office to sign over the title and pick up the keys. It was odd carrying around 80 $100 bills but I promptly went to the bank on the way home from work.

The other option would be to go together to his bank and have them give you an official bank check from his account.
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: blusubaru
Date: March 28, 2007 08:55PM
Cashier check. Just did it two weeks ago. I've also paid for a car with a personal check while bringing up my bank account online to prove that the funds are there. A real sly guy would go and remove that money before the bank opens the next morning, but I'm not that type of guy. You can get a feel about people that way when you deal in person.



Edited 1 time(s). Last edit at 03/28/2007 08:58PM by blusubaru.
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: grad
Date: March 28, 2007 08:56PM
thank ye!



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Re: Selling car on Craigslist. What is the best payment method?
Posted by: robfilms
Date: March 28, 2007 09:27PM
i just sold 2 weeks ago via craigslist an older car and all i wanted was cash.

we met at my bank, where he turned over the cash which i then immediately deposited. we went out to the bank parking lot. i took off the car's plates. he put his plates on. i gave him the keys. we shook hands and the transaction was done.

i hope u have the same good fortune.

be well

rob
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: Racer X
Date: March 28, 2007 10:13PM
rob, that's the way to do it. My buddy just bought a mercedes on craigslist. he met the guy at the licensing agency, which was across the street from the bank. he knew everything was complete when he drove away.
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: space-time
Date: March 28, 2007 10:27PM
Quote
blusubaru
Cashier check. Just did it two weeks ago. ...

A C H T U N G ! ! !

I got once a FAKE Cashier's check. I tried to sell an iBook on eBay and the guy bid way over expected price. Then that night I got an email form another seller, apparently he also bought a motorcycle, a plasma TV and a bunch of other stuff I don't remember. All together close to 50k. We (the sellers) kept in touch with each other (*) and we all got fake cashier's checks, and then faxed them to the credit union where they came from. Hopefully they reported him to the local police.

I swear, that check looked so real, even the fine print on the signature line or that watermark on the back (the one you see at an angle) were real.

I shredded the check last year when I moved, but now I regret it. I should have kept it as a sample of forgery.

So go ahead and take a cashier's check if you want, I know I won't.

(*) that was back in 2001 or 2002 when eBay let you contact another member, I believe they don't let you contact another member now unless you buy/sell something.
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: davester
Date: March 28, 2007 10:28PM
Quote
blusubaru
Cashier check. Just did it two weeks ago. I've also paid for a car with a personal check while bringing up my bank account online to prove that the funds are there. A real sly guy would go and remove that money before the bank opens the next morning, but I'm not that type of guy. You can get a feel about people that way when you deal in person.

A cashier's check is no better than a personal check since they can be easily forged. There are plenty of stories about people losing big money due to forged cashier's checks. RacerX listed the only safe payment methods for craigslist transactions.




"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: incognegro
Date: March 28, 2007 11:17PM
Cash can be counterfeited, too. Get one of those marker pens & go across every bill, unless you get it straight from a bank teller.

I'm looking to buy a Mercedes on craigslist again.
1980 or 82 diesel sounds about right, 2500ish.



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Re: Selling car on Craigslist. What is the best payment method?
Posted by: Racer X
Date: March 28, 2007 11:27PM
set aside about that much for when the injection pump fails.......and it will.
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: blusubaru
Date: March 29, 2007 05:36AM
Hmm... I guess that's the benefit/drawback of being from a small town. I trust everyone that first time. It all checked out though this time.
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: Will Collier
Date: March 29, 2007 09:25AM
space-time beat me to it. Don't trust cashier's checks. Get cash, or meet the buyer at the bank so they can withdraw the cash and hand it to you. No exceptions.
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: hal
Date: March 29, 2007 04:47PM
THere are ways to pay other than cash, but none are 100% fool proof. Put any method suggested here into google with the word 'scam' or something like that and you will find the weaknesses of that kind of transaction.

If you get scammed you will quickly become one of those 'cash only' types.
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Re: Selling car on Craigslist. What is the best payment method?
Posted by: sunfalcon
Date: March 30, 2007 09:39PM
I just sold my 2002 CR-V and got a cashier's check. I knew the person who bought it so I didn't have to worry about being screwed. However, since it was considered a LARGE deposit, the full amount was not available to me for two weeks!

I just bought two cars on craigslist this year. From now on, I will only take cash.

Luckily everything worked out.

I love craigslist!!
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