[Blickie]

I had been thinking of getting rid of a 10 year old jeep and getting a bigger family hauler SUV. Settled in on one, and of course stealership trades are low. So I try for a week to sell privately, get tons of interest and a solid offer.

Now my wife is freaking out about that much money privately, and probably better to just trade it in. I had been in contact with the guy, never met until we physically spoke on the phone, met in a strip mall lot (lucky 2 police officers sitting chatting), and he was very open, showed me his license right off the bat. Had his brother there who stayed back on our little test drive. He offered without me asking that he drives for fedex. Has a 2 door jeep and with kids wants to move into a 4 door jeep.

I've sold many things privately before and never really thought much of it (bikes, cheaper cars, motorcycles). Always took the cash, signed over title and was on my way.

For this one I was thinking of having him meet me at my bank when they are open, I go in with the money and have them put it right in my account, sign title over, take tags and be on my way. My wife of course says our address is on the title, so they can come back to us if they are that type of folk.

Any ideas to help navigate?

Start by checking values on Kelley Blue Book and NADA.

 

[Slowpoke387]

Your plan sounds solid. Tell your wife that when the dealer sells your trade everyone gets a copy of the title anyway. It’s not really safer.

 

[shapiroeric]

Just go through the proper steps and make sure the money clears....sounds like both you and the buyer are taking the correct actions though....

 

[RAIVJudge]

I had been thinking of getting rid of a 10 year old jeep and getting a bigger family hauler SUV. Settled in on one, and of course stealership trades are low. So I try for a week to sell privately, get tons of interest and a solid offer.

Now my wife is freaking out about that much money privately, and probably better to just trade it in. I had been in contact with the guy, never met until we physically spoke on the phone, met in a strip mall lot (lucky 2 police officers sitting chatting), and he was very open, showed me his license right off the bat. Had his brother there who stayed back on our little test drive. He offered without me asking that he drives for fedex. Has a 2 door jeep and with kids wants to move into a 4 door jeep.

I've sold many things privately before and never really thought much of it (bikes, cheaper cars, motorcycles). Always took the cash, signed over title and was on my way.

For this one I was thinking of having him meet me at my bank when they are open, I go in with the money and have them put it right in my account, sign title over, take tags and be on my way. My wife of course says our address is on the title, so they can come back to us if they are that type of folk.

Any ideas to help navigate?

Have them meet you at a local auto tag / notary. Never just sign the title and leave it open, it’s still in your name until the new owner has it processed. The Auto tag place will notarize and have the new owner sign the title and send iT to your states DMV. The new owner gets temporary registration and plate. The new owner does not get your old title and the deal is clean. Just make sure you tell the buyer that they need proof of insurance with the VIN of the car they are buying from you in it.

 

[Dextar]

I'd also search up a bill of sale and make sure you put in there that you're selling the car as is with no warranty and no returning the car but otherwise it sounds like you're doing it right. I would absolutely bring the cash to my bank and have them verify it. It's nothing against that guy, you're doing it to protect yourself.

I get things set up, fill out the bill of sale, have both sign, take a picture of the BoS + title with his ID, take my plates off, and walk away. It's on the buyer to have insurance/title/registration.

 

[Slowpoke387]

Have them meet you at a local auto tag / notary. Never just sign the title and leave it open, it’s still in your name until the new owner has it processed. The Auto tag place will notarize and have the new owner sign the title and send iT to your states DMV. The new owner gets temporary registration and plate. The new owner does not get your old title and the deal is clean. Just make sure you tell the buyer that they need proof of insurance with the VIN of the car they are buying from you in it.

Def doesnt work anything like that in a lot of states. No “auto tag” place or temp tags in many states.

 

[RAIVJudge]

Def doesnt work anything like that in a lot of states. No “auto tag” place or temp tags in many states.

you may be right. It’s that way when I have purchased cars in WI, PA, NJ and many others. I should have led my reply with. Do some homework on what is required in your state.

 

[ArchGE]

Sounds like a good idea to do the deal at your bank, or even his. Sucks that a few dirtbags ruin trust for all the honest folks out there.

 

[HemiMetal]

Call your insurance agent to let them know the Jeep is no longer under your ownership and have them remove it from your policy. Also send an email to your agent stating the same, giving you a timestamped electronic document disavowing your ownership in the vehicle (include the VIN). I usually save this email for at least six months to a year.

 

[9secSRT]

Private sales with cash or checks can be scary at times. I always suggest a bank meet . A few weeks ago I had somebody try to pay me with a fake cashiers check, luckily I called the bank and gave them the routing number before I let the car go and there was no active account with that number. (Guy wanted to meeet after bank was closed) be careful with sketchy people

 

[9secSRT]

Long story short BANK MEET ONLY!

 

[HemiMetal]

I would absolutely bring the cash to my bank and have them verify it. It's nothing against that guy, you're doing it to protect yourself.

Agreed. You're the seller, so you set the conditions. Honest buyers won't have a problem with this arrangement and should even appreciate the protection you're affording for both of you. Keep in mind it's equally uneasy for buyers holding a large amount of cash to meet up with a stranger where they could just as easily get jacked. Then only buyers who might feign offense are scammers, and who cares if you hurt their feelings?

 

[9secSRT]

Agreed. You're the seller, so you set the conditions. Honest buyers will have no problem with this arrangement and may even appreciate the protection you're affording for both of you. Keep in mind it's equally uneasy for buyers holding a large amount of cash to meet up with a stranger where they could just as easily get jacked. Then only buyers who might feign offense are scammers, and who cares if you hurt their feelings?

👍🏻 sounds good to me

 

[Ram-paging-MN]

just bought a 56k cherokee SRT privately...handed him cashiers check after i paid his lein and had his bank send over a notarized lien release, met him at house and he handed me title. its not really an issue at all if you follow procedures.

 

[steve k]

I would either try and meet at his bank , watch as the teller issues him a bank cashiers check to verify it is a legitimate and good check. Or take his his cashiers check to the bank that it is drawn on and present to them with him present and verify it is a good check. Could either cash or then comfortable it is good check then deposit in your bank. Do not sign over title until you verify his bank check is legitimate. You can also call back they can verify check over the phone. In person is the best.

 

[9secSRT]

just bought a 56k cherokee SRT privately...handed him cashiers check after i paid his lein and had his bank send over a notarized lien release, met him at house and he handed me title. its not really an issue at all if you follow procedures.
[/QUOTE

I would either try and meet at his bank , watch as the teller issues him a bank cashiers check to verify it is a legitimate and good check. Or take his his cashiers check to the bank that it is drawn on and present to them with him present and verify it is a good check. Could either cash or then comfortable it is good check then deposit in your bank. Do not sign over title until you verify his bank check is legitimate. You can also call back they can verify check over the phone. In person is the best.

big facts 👌🏻

 

[WVHEMIS]

Def doesnt work anything like that in a lot of states. No “auto tag” place or temp tags in many states.

True for our state... You would need to go to the DMV then apply for your temp tag

 

[Slowpoke387]

True for our state... You would need to go to the DMV then apply for your temp tag

Yep. Mass doesnt even have temp tags at all.

 

[hellinnj]

Thanks! One thing my wife wanted me to try and do was a cashiers check - but that could be fraudulent as well.

A few select people really ruined a lot for all the good ones out there.

Turns out buyer backed out anyway this morning. No idea if he was trying to scam, was legitimately ok and had an emergency come up, or if he felt I was trying to scam him.

Guess it's trade - at least state will get less sales tax.