as a seller of a new car, advice for taking payment without getting scammed?
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.
Ask your banker what is acceptable. Usually just a cashiers check drawn on your bank.
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
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