selling a vehicle..need advice

[yycwesty]

Looking for advice.

I have the opportunity to sell my 1985 westy to a very nice couple in Florida..I'm in Alberta, Canada.

Can anyone help us both out on how to go about doing this deal. The intentions will be for me to drive the Westy to his family in Idaho and he will come up later and pick it up and drive it home to Florida.

I'm assuming I would be writing the bill of sale and receiving the monies from his parents and then he would just pay them back and have the bill of sale transferred from his parents name to his..

So what is the best way for me to receive payment as I hear even getting bank drafts and direct wire transfers can sometimes be dicey. The price is too much (in the neighbourhood of $20,000 US) to most likely ask for cash.

The last question, if I cross the border and drive it down to Spokane for the hand over, will the new owners then have to come back up to the border to register it in the US (perhaps I should meet them at the Cdn side of the border and they could then have the bill of sale and drive it back to Idaho)..It was a US vehicle from Washington prior to me purchasing it.

I would really like this sale to go as smoothly as possible for both parties so working things out in advance.

Any advice would be greatly appreciated.

Cheers
Al

[Dave Wood]

Leave at someones house in Idaho? sounds fishy to me. Just have them come a little further north and pick it up themselves. And I'd only take cash, even cashiers checks can be bogus and you have to deposit them in your bank for 10 days to clear. Are these people you know or did you meet them on craigslist?
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Dave
87 Vanagon GL

[danfromsyr]

talk to your banker. not the teller at the window though.

some banks have a process for handling these remote $$ transactions into a sterile and secure account. once the $ is in & verified they move it out. so it can't be retracted.

you don't want to cross the border with $20k in your pocket.. never more than $9,999 per person anyways.
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[SCM]

[PDXWesty]

A cashiers check is as good as cash, as long as it is from a reputable bank. I wouldn't be afraid of cash either. I've done sales and taken/given cash, but a cashiers check is probably the way to go. It's guaranteed by the bank to be good.
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89 Westy 2.1 Auto

[MarkWard]

Can't offer advice on selling a car across borders, but the way you describe the deal, does seem odd to me. Who can plop down $20K, but can't find the time to fly to Canada, to check it out in person and then purchase it?

[zeohsix]

Get paid in 1 ounce Maple leafs 15 would be about 20K with a face value of $750 that would work for me! Accompany buyers to bullion/coin store for purchase of legal tender.

Bank wire money transfer around $30 fee.
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I'm Cheap! I'll build that Syncro Westy myself and save money but, my labor is "FREE" especially if I ever go to sell it! One thing is I will know the quality of the parts and labor that went into the build and rest better when I'm actually driving said Westy down the road!

[PDXWesty]

You can also use an Escrow company. They verify funds before you deliver the van.

They deposit money.
Escrow verifies funds.
You release vehicle.
They accept vehicle.
Escrow company releases money to you.

Takes longer but is safe for all parties.

https://escrow.com/services/vehicle-escrow/how-vehicle-escrow-works.aspx

Also read this: http://www.thesamba.com/vw/forum/viewtopic.php?t=251242&highlight=escrow
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89 Westy 2.1 Auto

[j_dirge]

[IdahoDoug]

You have 3 challenges:

1 - getting paid without risk
2 - how to deal with the border
3 - how to properly handle the paperwork selling a CN vehicle to a US buyer.


I'd break it down into those steps. For 1, talk to your bank manager. For 2, contact the Canadian Customs and/or US Customs. For 3, have the sellor tell you what he/she needs to have to properly transfer ownership to meet US needs.

DougM

Too bad this didn't happen 4 months ago. I was looking for a way to fill an empty car trailer from Idaho to Florida to go get my Vanagon.
_________________
1987 2WD Wolfsburg Vanagon Weekender "Mango", two fully locked 80 Series LandCruisers. 2017 Subaru Outback boxer. 1990 Audi 90 Quattro 20V with rear locking differential, 1990 burgundy parts Vanagon. 1984 Porsche 944, 1993 Toyota LandCruiser, 2002 BMW 325iX, 1982 Toyota Sunrader

[joseph928]

Well in Arizona I only take cash, and I bring my gun to. This is still the west! And when I buy it's in cash only. If they have any other paper that is not cash I will send them to there bank to cash it. Nuf said.
_________________
1987 syncro westy tin top sun roof , GW2.3, rear locker, decoupler, Gary Lee tire rack & winch mount, lift, south african grill, big brakes , rhein alloy ,15 BFG AT, Fiamma 10 foot awning ,140 watt rear 85 watt front solar , mppt, truckfridge, automatic fire extinguishing system, tencent oil cooler, And a RMW SS exhaust! - 1971 bug convertible 1776 engine- 2010 Subaru turbo - 1993 Toyota 4x4 truck - 1999 Harley 95 CI, big bore, Andrews cams . Also 80-84- vans. Stock 65 sunroof bug.

[j_dirge]

[Merian]

[kamzcab86]

You will never catch me walking out of a bank with $10,000 cash in a bag, let alone $20,000. If a seller isn't willing to accept an accredited bank-issued cashier's check/bank draft (the sellers of my van did accept it), then s/he best be willing to come to my bank to get the deal done.

In the OP's case, escrow account is probably the best way to go, along with a non-refundable deposit.
_________________
1986 Cabriolet: www.Cabby-Info.com
1990 Vanagon Westfalia: Old Blue's Blog
2016 Golf GTI S
"Real knowledge is to know the extent of one's ignorance." - 孔子

[yycwesty]

thanks Guys

Yes looking at getting a non-refundable down deposit prior to departing to Idaho.

So if I'm given a bank draft, can my bank confirm it's authenticity..Would they be able to call the bank in Florida and verify.

When I originally purchased the westy in Washington, I took the $8800 down in cash..Somewhat apprehensive carrying that amount..Wouldn't expect the buyer to carry $20,000 US.

I'll have to look into an escrow account. Is that something you get through a bank..

Buyer sounds very legit..Have chatted several times emailed many times..But your correct always a concern

Cheers
Al

[PDXWesty]

[Merian]

your bank can confirm it's authenticity, but what if they make a mistake? who is on the hook?

always talk to an "officer of the bank" not some guy they hired as day labor at min. wage - that is a term of art in the US

I'd say the odds are good that a cashiers check and due diligence on your part will be ok - the question is how much risk you are willing to accept and how much effort & cost (escrow fees for example) you are willing to deal with to reduce that risk -- similar to glacier travel

[Ahwahnee]

Whether buying or selling I always use a wire transfer. It's immediate and the most certain to be valid (even cash can be no good).

I certainly wouldn't deliver a vehicle anywhere w/o having the full cash in hand. Once you have that you overnight the title to the buyer & it is their vehicle.

Seems like an escrow service would protect the buyer, don't see how it can do much to make things safer for a seller (if you follow the 'get the money up front' approach).

[yycwesty]

thanks PDX..will definitely look into an escrow..The buyer also suggested escrow so that's good we are on the same page.

Ahwahnee - I think an escrow is designed to protect both buyer and seller if I'm not correct..Perhaps I'm wrong

Al

[alapah]

When I bought my EV about two years ago I recall learning that cashier's checks cannot be instantly verified by a bank - they require a few days to clear. This was not always the case but apparently is due to increased privacy laws or some such thing (I can't recall what exactly the banks involved told me, just that they cannot instantaneously verify funds).

In my case, the buyer really preferred cash ($20k) because of this hitch - though we did discuss escrow. My only bank account is with a local credit union so not much help in dealing with a Lower48 purchase. However, a relative of mine had an account with a national bank so we called a branch in the general vicinity of the seller and arranged to have $20k in cash waiting for us. (I gave the relative a cashiers check for 20k prior to the sale).

The seller and I met at the bank parking lot, did our walk around and test drive (I had already had an independent mechanic look it over), then we went into the bank to withdraw the cash and sign over the title. We actually encouraged the seller to turn the cash into the bank and get a cashiers check directly from them, confident that the funds were existent, but he left with the cash, much to the amazement of myself and the bank staff. They provided a private room for counting of the bills. It all worked out fine. Not sure this scenario will work for you since you've go the US/Canadian wrinkle in the deal. An escrow account is probably the best way to go in your case.