selling SUV, what do I look out for?

[fishman]

I'm in the process of selling my 2003 Trailblazer and was hoping to get some advice. Up til now, I've never sold a car I didn't own outright, and none of them were worth that much. The bank has the title on this one. I'm frankly worried about getting scammed. What procedure would be the best to ensure that I get my money and the buyer gets the SUV and his bank gets the title?

Lots of scenarios keep running through my head involving counterfeit checks, cashier's checks, money orders, and cash. I've already had someone with a low cash offer, but what if the money just came off their inkjet?

Help! /forums/images/graemlins/confused.gif /forums/images/graemlins/crazy.gif

 

[rdln]

Meet at a bank, theirs or yours when it is open and verify on the spot.

If you have financed through GMAC (they are the only people lending free money for trailblazers lately) anything BUT a cashiers check will take 10 days to clear and the buyers wont get a lein release for 2 weeks after you send the check in so stress to them that it is in thier best interest to spend the extra fee.

Cancel your onstar and xm radio.

Keep the hitch inserts

Oh yeah, Look under the seat for loose change /forums/images/graemlins/wink.gif

 

[Bird]

John, I've not had much experience along those lines, but I agree with the recommendation to do the paperwork at the bank; yours or the buyer's. When I sold my last motorhome, it was financed through a company in Oklahoma City, but we went to the buyer's bank here, they contacted the lienholder and got the actual name of the individual who had the title in his hand (which I had also done before going to the bank), the lady in the buyer's bank gave me a cashier's check for my equity, prepared a cashier's check to the lienholder, and gave it to the buyer who immediately drove to Oklahoma City himself, paid it off, and got the title (I had offered to make the trip to Oklahoma City for him or with him, but he decided to do it himself). Of course, there were a few forms to complete at the bank for me to sign an authorization for someone else to pay off the loan, get the title, etc. But the bank, being familiar with the process, only took a few minutes to do it.

 

[bgott]

You can go to an office supply and buy a pen for detecting counterfeit money. You swipe it across the bill and if it marks yellow or brown it's good, if the mark turns black it's counterfeit. Make sure the cashier's check you buy at the bank gets in the mail, better yet, get all cash, at the bank, and buy the check yourself. You are responsible for the payoff until the finance company gets paid and if the buyer screws up or decides to pull a fast one you could find yourself in the hole. If you take some cash and hand them the keys and they haul butt after cashing the check they just bought it's not a stolen vehicle.

 

[RobertN]

Here's another vote for take it to the bank. I sold a vehicle like that; I had the buyer meet me at the bank(happened to be a local bank where I had the loan).

The buyer got the signed title, bank got thier money, I got mine, and all were happy. It was an inconvienance to take the time from work, but everything went smoothly.

 

[slydog]

The wife of a guy I work with had an 80's model Mustang for sale. A fellow came out to look at it and asked to take it for a test drive. He never came back. This was about 12 years ago, and I although I can't remeber the exact outcome, I can't recall that they ever found it. So if you let someone test drive it make sure you go with them or hang on to something comparative for security. (I know this seems like just common sense these days, but he obviously didn't think about it so I thought it at least worth mentioning to you.)

 

[Bird]

About 40 years ago, most of the dealers in Dallas learned to go with customers to test drive cars, after we had an unbelievable rash of thefts. The potential buyers would drive the cars and return them, then the dealers would find out, usually much later, that the car was missing a spare tire and jack. Someone sure stole a lot of tires and wheels. /forums/images/graemlins/mad.gif

 

[JimR]

You need to have the buyer go to your bank with a certified bank check in order to pay off your loan and to get the title straightened out. I've been there done that. Not all banks will accept cash either. Go figure on that one. It happened to me. The bank was nice enough to convert 15k I had into a check. I left with the title in hand for the car I bought. DO NOT release the car unless you make sure he has the title. You are still responsible for the car until the title is signed over to the new buyer.

 

[bgott]

I've had one car stolen by a test driver off of the car lots I've worked for over the years and had two cars wrecked, one of them mine. I've had to pay to recover cars that the prospective buyer had taken to a shop to have checked out and then decided to leave there without paying after they heard stuff they didn't like. I know of a couple of car lots who's cars were used in armed robberys during a test drive. There have been car salesmen robbed and killed by test drivers. We aren't even going to count the times cars have ran out of gas or blown up. Selling a car can be a nerve wracking experience!!!

 

[rdln]

<font color="orange"> You need to have the buyer go to your bank with a certified bank check...
</font>

I thought that also but in case he is dealing with GMAC anything but a cashier's check takes at least 10 days to clear.