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Sale & shipping of a VW xcountry (deposit/balance of payment)
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yohmahmah
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PostPosted: Tue Dec 29, 2020 7:12 pm    Post subject: Sale & shipping of a VW xcountry (deposit/balance of payment) Reply with quote

I have a buyer who offered to overnight me a deposit and the balance upon pickup of vehicle. The buyer wants me to overnight the vehicle title to them after receiving the deposit. Am a little leery about shipping the vehicle title on only a partial payment.

Any reason to go with this deal over handing the title to the shipper when he arrives with the balance of payment?

Am thinking about payment mechanism (10% deposit to my checking account routing id from my deposit slip) and balance some type of bonded/brokerage/trustee payment). Digital payment would be nice.

Looking for info from some one who has done this before.

Thanx!
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vwracerdave
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PostPosted: Tue Dec 29, 2020 8:27 pm    Post subject: Re: Sale & shipping of a VW xcountry (deposit/balance of payment) Reply with quote

It is your car. DO NOT do anything you are uncomfortable with. DO NOT release title until you have received full payment.
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Abscate Premium Member
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PostPosted: Wed Dec 30, 2020 5:54 am    Post subject: Re: Sale & shipping of a VW xcountry (deposit/balance of payment) Reply with quote

I have a car , you have money.

When you come and give me the money, you get the title and car. If you are too busy or lazy to come and get the car, you assume ALL the deal risk.

Escrow services can be helpful but not foolproof unless you write the conditions carefully.
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grandpa red
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PostPosted: Wed Dec 30, 2020 6:14 am    Post subject: Re: Sale & shipping of a VW xcountry (deposit/balance of payment) Reply with quote

Tell the buyer you would be happy to send a copy.
Its not his car until you have been paid in full!
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gt1953
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PostPosted: Wed Dec 30, 2020 7:18 am    Post subject: Re: Sale & shipping of a VW xcountry (deposit/balance of payment) Reply with quote

What has worked for me is this, think of yourself as the car dealer. Here are my terms to sell the car as it is your car.
Have seller send you the full amount in a certified cashiers check. You send the buyer the title. At that point wait for the shipper.
Now if the buyer wants to send a deposit to hold it make sure some of the deposit is non refundable if the buyer fails to show. You missed sales.
When buyer does show up with balance you hand over car and title.
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TDCTDI
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PostPosted: Wed Dec 30, 2020 8:43 am    Post subject: Re: Sale & shipping of a VW xcountry (deposit/balance of payment) Reply with quote

Sounds scammy to me.


Neither the title nor the vehicle should be released to anyone without payment in full.


You should also avoid any electronic payments that can be “clawed back” or releasing the vehicle or title if payment is by check or money order as these take several days before the banks can actually verify that they’re good.
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Marcdeb
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PostPosted: Wed Dec 30, 2020 8:51 am    Post subject: Re: Sale & shipping of a VW xcountry (deposit/balance of payment) Reply with quote

TDCTDI wrote:
Sounds scammy to me.


Neither the title nor the vehicle should be released to anyone without payment in full.


You should also avoid any electronic payments that can be “clawed back” or releasing the vehicle or title if payment is by check or money order as these take several days before the banks can actually verify that they’re good.


I agree. This sounds risky! I would not hand over anything until the payment in full has been "cleared" through the bank. It's your car, you control the sale, not the buyer. Lawyers are expensive but if the buyer is out of state, you will be helpless if something goes wrong. Trying to get legal help when parties are in the different states can cost more than the sale price of the car.
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jeffrey8164
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PostPosted: Wed Dec 30, 2020 2:32 pm    Post subject: Re: Sale & shipping of a VW xcountry (deposit/balance of payment) Reply with quote

They or their proxy need to show up C.I.F. (Cash In Fist)
Remind them that it is the only way to protect everyone involved.
And no, I’m not gonna follow you to your bank.
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Abscate Premium Member
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PostPosted: Thu Dec 31, 2020 4:34 am    Post subject: Re: Sale & shipping of a VW xcountry (deposit/balance of payment) Reply with quote

Reminder. ANY paper document can be forged , so certified cashiers checks are just paper. Even if your bank accepts it, it can rejected weeks later and it’s your problem. Bank checks, bearer bonds, all forgeable.

A fraud of 10k isn’t enough for LEO and DAs to get interested especially if it’s an out of town person.

Cash is king. If you forge cash, the SS will look for you, they will find you, and they will ....you.
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TrulyVintage Premium Member
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PostPosted: Wed Jan 06, 2021 5:12 am    Post subject: Reply with quote

I just dropped off a 1986 VW Westy in Seattle on Sunday.
It was on the Samba for sale and sold in a few hours.
The Buyer had never bought a vehicle at a distance before.
He sought me out initially for advice on how to proceed with purchase.

Cash In Person Is Best
You can arrange to meet at your bank
The money can be checked to see if it is genuine
The title and/or bill of sale can be notarized

Bank wire transfer is the next best thing
Cheapest & most secure way to transfer money
Buyer & Seller both have record of who paid who what amount
Upon funds showing up in account - seller sends title/bill of sale to buyer
Overnight mail delivery requiring signature with tracking

Never send proof of ownership with a vehicle
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