If selling a car to individual, what kind of payment would you require

[Anonymous]

Anonymous wrote:

Anonymous wrote:You also need to create a bill of sale that specifies you're selling the car "as is" (see Internet for templates). They need that to pay tax when registering it. Take your plates off, too.

In what state?

I've bought and sold cars in more than one state. Never done this.

I'm in Virginia but I think most states require a bill of sale to register a car.

[Anonymous]

We bought a car from a private party last summer, and just paid in cash. I think it was $3500. No problem. But "we" means my husband (who looks like he can hold his own in a fight), in a public place, during daylight hours.

If it were just me, I would get a cashier's check, so I wasn't carrying large sums of money. And I would take the car to a mechanic before closing the deal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You also need to create a bill of sale that specifies you're selling the car "as is" (see Internet for templates). They need that to pay tax when registering it. Take your plates off, too.

In what state?

I've bought and sold cars in more than one state. Never done this.

I'm in Virginia but I think most states require a bill of sale to register a car.

And don't forget to sign over the title.

[Anonymous]

Definitely count the cash. My dad sold a car on CL and met the woman at her office to get the $ and turn over the title. He didn't count it all because he figured since it was her office she wouldn't short him. She did. Once he figured out what was up, it was too late. His word against hers and the car was hers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You also need to create a bill of sale that specifies you're selling the car "as is" (see Internet for templates). They need that to pay tax when registering it. Take your plates off, too.

In what state?

I've bought and sold cars in more than one state. Never done this.

I'm in Virginia but I think most states require a bill of sale to register a car.

And don't forget to sign over the title.

The title is the bill of sale.

[Anonymous]

Cash only. Too many counterfeit cashiers checks, money orders etc. they may clear and then a week later are charged back. If you don't know the person, you take a risk with paper. If they can give you a money order or cashiers or certified check, they can also withdraw cash and pay you cash.

[Anonymous]

Anonymous wrote:Meet at the Bank. Have the buyer prepare a cashier's check there with you on site.

I agree with this....although I find the one poster that said cashier's check can be counterfeit is interesting, because I thought cashier's checks are guaranteed money.

[Anonymous]

Cash

[Anonymous]

Anonymous wrote:Cash only. Too many counterfeit cashiers checks, money orders etc. they may clear and then a week later are charged back. If you don't know the person, you take a risk with paper. If they can give you a money order or cashiers or certified check, they can also withdraw cash and pay you cash.

+1. Read the craigslist faqs. Any check can be forged or stolen. The bank will deposit it and then a week later take the money back. They say only cash.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Meet at the Bank. Have the buyer prepare a cashier's check there with you on site.

I agree with this....although I find the one poster that said cashier's check can be counterfeit is interesting, because I thought cashier's checks are guaranteed money.

Common misperception. The only difference between your check and a bank check is the payor. People believe the bank actually has funds to cover it. It doesn't prevent forgeries and it will clear no faster than a personal check.

[Anonymous]

This is one reason I sold through vroom (like carmax) last time-- probably gave up some cash but avoided a lot of hassle.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You also need to create a bill of sale that specifies you're selling the car "as is" (see Internet for templates). They need that to pay tax when registering it. Take your plates off, too.

In what state?

I've bought and sold cars in more than one state. Never done this.

I'm in Virginia but I think most states require a bill of sale to register a car.

And don't forget to sign over the title.

+1

We have accepted cashiers checks at a bank.

[Anonymous]

Anonymous wrote:This is one reason I sold through vroom (like carmax) last time-- probably gave up some cash but avoided a lot of hassle.

Could be thousands. Worth some hassle to us.

[Anonymous]

I have sold 3-4 vehicles through Craigslist. I worked up a bill of sale that lists all the pertinent info (car details, buyer, seller, sale price, etc.) and bring two copies to the deal so we can both sign and each walk away with a copy. Most of the deals are cash and I have no problem counting it in front of the buyer. We usually meet up, do a test drive and then either they buy it right then or we meet again after they thought it over and withdrew the cash. I usually do the exchange at a grocery store parking lot. Make sure to remove your plates and take them with you when you hand over the keys. One vehicle the buyer wanted to finance and that was more of a pain. I had to give him a bunch of info so he could get the loan through his bank and then we met and exchange the bank check and vehicle. I held the title until the check cleared and then mailed it to him. He was ok with that arrangement.

In general you will do MUCH better doing it yourself rather than trading it in or doing something like Carmax. I have taken vehicles to Carmax and then turned around and made 3-4k more selling them myself on Craigslist. You pay a lot for the convenience that Carmax provides. In my case it would have been thousands. Horrible value prospect given how easy it is to take a couple of pictures and meet a guy in a parking lot.

[Anonymous]

Cash only. And meet at the DMV (if the buyer is VA resident) or meet outside a police station.

Carmax will be the worst option but get an appraisal there anyway so you have a baseline. The appraisal is free.