How to Sell a Car?

[01Y87]

Lets say, hypothetically, I wanted to sell my Camaro. Has anyone ever sold on ebay? I'm thinking that would cast a bigger net to find a buyer but I do know about the scams on ebay. Obviously I can't take a check from anyone cause it'll probably be fake - so what's the best way of doing a money transaction from an ebay car sale? electronic bank transfer? Although that would probably require me to give my account # which could also be bad.

Another thing. If you buy a car you have to get the title (signed over) so you can get your own title. But since mine isn't paid off, and won't be paid off till a buyer pays it, I don't have a title. The bank has it. So what I think a buyer would have to do is pay up, then it goes to the bank after its verified, once the bank has all its money then they process it and send me a title after which I send it to the buyer. But that can take several weeks. I can't give a buyer the car after they pay because I am fully responsible for it as long as the title is in my name. Are buyers going to be nervous about paying lots of money and not getting the car for several weeks? A scam artist posing as a seller could simply take their money and run. How do you work around this situation?

[Dave M]

Procedures may be different in different states, but I'd bet they are generally the same. Anytime you advertise a car ont he internet, whether it be on Ebay or a site like Autotrader, be ready for a flood of emails or phones calls that sound like this "I'm representing a client in England (or whatever country)..." just delete them, they are all scams.

What types of payment you accept is up to you. I wouldn't accept anythin other than cash or a certified bank check. A certified bank check is a check that the buyer has paid the bank for, either with cash or from their account, and the bank writes you a check. Or they can be some type of auto-loan specific check written in the bank's name. Depends on the insitution. These types of checks can be faked too, but they all have some serious security features on them so you should be able to spot a fake.. or the bank will.

If you still have a loan on your vehicle and the bank has the title, you'll just do the paperwork at a title transfer business or notary. They have paperwork that will put the title in the buyers name, and the bank will send the title to them once the payment clears and the loan has been paid off. The buyer gets a temporary registration and pink slip until the title comes. It's done all the time. Whatever business you go to to transfer ownership will be able to take care of it for you, or call your bank and they can tell you their preferred process. Some may want you to make the payment at the bank (buyer pays the bank) so they can release the title to you, then you take it to a notary/title transfer business.

Personally, I wouldn't bother using Ebay. Selling a car on Ebay can be expensive, and for $40 or so you can run an ad on Autotrader until it sells, and you'll probably have just as much luck as with Ebay. The only reason I could see to use Ebay is if you think the price of the car will get bid up above what you want for it, but that usually only happens on rare cars and I wouldn't consider an SS in that category. Stick with your auto websites and keep a sharp eye out for scams.

[sneitzel]

There are also "go between" companies out there that, for a fee, will handle the transaction for both parties. You would release the title to the buyer and send it to the go between who would hold it until they received verified funds from the buyer. Once received, the GB would send you your $$ and the title to the buyer thus ensuring no one gets the shaft.

I have no experience with these types of companies I only know they exist.