Trying to sell my Jeep on Autotrader.com - offered cash - should I be concerned?
JK Newbie
Joined: Oct 2008
Posts: 57
Likes: 1
From: Tracy, CA
I sold my diesel truck a couple years ago ..... 30k cash. Mostly 100's but probably 5k in 50's. Had never seen that much cash before.
The guy and his friend flew in from NY (long island area) to DC, I picked them up at the airport and drove straight to my bank. Deposited the cash (had them look at it, as you would expect when you hand somebody 30k cash). They took it and made me fill out some cash form for the fed's. I signed the title in the bank lobby and it was a done deal.
I'm not a tough guy, but I figured they had to show ID to get on the plane, I left my wife with all the info at home, and it worked out. Do the deal someplace public .... like maybe your bank lobby and your good to go.
I asked the guy why the cash ..... turns out he worked in a cash business (for himself) NOT DRUGS!! and he had been saving awhile. He just didn't like banks and probably paying taxes. I was happy, he got a great truck and drove it back to NY. End of story. I say go for it, but use your head.
The guy and his friend flew in from NY (long island area) to DC, I picked them up at the airport and drove straight to my bank. Deposited the cash (had them look at it, as you would expect when you hand somebody 30k cash). They took it and made me fill out some cash form for the fed's. I signed the title in the bank lobby and it was a done deal.
I'm not a tough guy, but I figured they had to show ID to get on the plane, I left my wife with all the info at home, and it worked out. Do the deal someplace public .... like maybe your bank lobby and your good to go.
I asked the guy why the cash ..... turns out he worked in a cash business (for himself) NOT DRUGS!! and he had been saving awhile. He just didn't like banks and probably paying taxes. I was happy, he got a great truck and drove it back to NY. End of story. I say go for it, but use your head.
As for cash transactions I have done a few, never 30k, but I have sold a car for 12k cash one time. Same as you described, after myself and the buyer talked we met at my bank, I brought pinkslip and keys, he brought cash. The bank even gave us a little cubicle and a bank officer who monitered the transaction, deposited my money, and signed his pinkslip as the wittness.
JK Junkie
Joined: Jul 2009
Posts: 2,343
Likes: 1
From: The San Andreas Fault
It is usually just of way of saying I have the money in hand and am willing to pull the trigger right now!
He probably will meet you at your bank with a cashiers check made out to you if you have the pink slip.
JK Enthusiast
Joined: Sep 2009
Posts: 487
Likes: 0
From: Virginia Beach, VA
I have sold three cars before, all deals were at the bank. You say he is 300 mile away. He made a offer without seeing or driving it. 
And he wants to meet on a Sunday Don't make a bad choice because you think you have it sold. Meeting someone on a weekend is fine just for a test drive, but DON"T do the deal after business hours or on a Sunday. If the guy really wants it, have him give you a deposit $500. min. to hold it till a day you both can meet at your bank or his. Do not take a personal or business check for the full amount, for the deposit maybe. If it is real cash (the green kind) you must do the deal at your bank and the teller will check the bills. And yes bank checks can be counterfit also, it should be from a bank you have heard of. You or your bank could call the other bank to check if it seems good, before you give over the title. Hopefully everything is on the up and up, good luck.
And he wants to meet on a Sunday Don't make a bad choice because you think you have it sold. Meeting someone on a weekend is fine just for a test drive, but DON"T do the deal after business hours or on a Sunday. If the guy really wants it, have him give you a deposit $500. min. to hold it till a day you both can meet at your bank or his. Do not take a personal or business check for the full amount, for the deposit maybe. If it is real cash (the green kind) you must do the deal at your bank and the teller will check the bills. And yes bank checks can be counterfit also, it should be from a bank you have heard of. You or your bank could call the other bank to check if it seems good, before you give over the title. Hopefully everything is on the up and up, good luck.
JK Freak
Joined: Aug 2009
Posts: 768
Likes: 0
From: Prince George, BC, Canada
Not sure if anyone has said this or not but if you think the guy is sketchy be transparent with him. Tell him "this seems weird so i will meet you inside the bank on (insert business day) and after I confirm your not a con artist we will take are of business and be on our way". If the guy is sketchy he will back out and go find another sucker...
JK Newbie
Joined: Mar 2008
Posts: 45
Likes: 0
From: Tampa, FL
JK Super Freak
Joined: Mar 2009
Posts: 1,529
Likes: 1
From: Austin, TX
Wire transfer is generally the safest.
Cash at the bank seems like the next best option.
I've sold cars using cashiers checks before and everything went fine, but others are correct: they're the easiest to forge.
Cash at the bank seems like the next best option.
I've sold cars using cashiers checks before and everything went fine, but others are correct: they're the easiest to forge.
JK Junkie
Joined: Mar 2007
Posts: 2,710
Likes: 0
From: Kennesaw, GA
i have taken a camera with me when I did cash deal selling my ranger and mercedes... snap a full body pic and face shot and I also take a picture of their drivers license. Invasive? Yes, but if they cooperate you can rest assured they are legit. Also snap a pic of their car and license plate. If you explain that you have been burned by fraud in the past (even if you have not) most legit people will understand and not take it personally.
JK Enthusiast
Joined: Oct 2009
Posts: 111
Likes: 0
From: High Sierra
I've sold plenty of items for cash, jeeps, motorhomes.......
Never had a problem. Have had problems with cashier's checks drawn from major banks
Making the transaction at the bank is the best bet.
Never had a problem. Have had problems with cashier's checks drawn from major banks
Making the transaction at the bank is the best bet.
