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You have finally found a buyer to take over the possession of the car you have been trying to sell for the past month or so. Now, you just need make sure you complete the transaction by securing a safe payment, but do you know the safe methods, and the methods you should not engage in. If you have a slight doubt, it would be to your best interest to read this article.
The number one rule is to never wire money to a buyer. Furthermore, in case the buyer is no pay using a check or money order, make sure you accept only the exact amount of the sale price, in other words, never take more, or less. This is to protect you from scams, and ensure bookkeeping for the sake of auditing by the internal revue services. Take an extra safety procedure by finding the financial institution’s address, and phone number. Contact the financial institution and make sure the check is not forged. Better yet, do not accept a personal check, rather ask for a cashier’s check, and follow the procedures mentioned above.
Rushing through the deal could be your worst enemy, yes you may lose the buyer if you delay the deal a couple of hours, but in my opinion it is better than losing the whole value of the car. I am trying to say that wait until the bank opens, and go to the bank along with the buyer to finish the transaction there. This way, you can ensure that the funds are to be available in your account upon turning over the car, and you may just as well, have the bill of sale notarized at the bank.
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