as a seller of a new car, advice for taking payment without getting scammed?

Asked by Aug 19, 2017 at 03:13 PM

Question type: Car Selling & Trading In

3 Answers

261,305

Only accept cash, or if a bank check , agree to meet the buyer at their bank when the check is issued so you can verify the funds do exist.

1 of 1 people found this helpful.
82,835

Ask your banker what is acceptable. Usually just a cashiers check drawn on your bank.

1 of 1 people found this helpful.
71,635

You can accept a bank draft with the understanding that neither the vehicle or title will be released until the draft clears your bank. Write up an agreement to this effect. Make 2 copies. One for you and one for your buyer. You'll both sign and date both copies. Keep one copy and your buyer keeps the other. When the bank draft clears your bank then you can surrender the vehicle and title to the buyer. HTH. -Jim

Your Answer

Car Selling & Trading In Experts

  • #1
    F_O_R
    Reputation
    2,840
  • #2
    Tom Demyan
    Reputation
    1,500
  • #3
    Bob Beaman
    Reputation
    1,330
View All

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use.