Payment for a private car sale

[Buster]

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I’m only an asshole on beyond haha.

that's my schtick

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I've read cases where a private sale was done; received a bank draft; went to deposit it to the seller's bank but it was fraudulent; went to report the case to CPS and the driver's license was fake too.

I like the one where the bank teller hands you the draft. So long as the teller isn't in on it...

/tinfoilhat

this

[Kloubek]

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I was thinking of accompanying the buyer to his bank and getting a bank draft in my name and depositing it in my bank right after. Would that be the safest method? Any chance of the bank clawing back the funds?

This is what I did when I bought my XFR. We had the additional issue of there being an outstanding loan to clear up, but even if that wasn't part of the equation, seeing the bank create the draft in front of you guarantees you safety.

[ThePenIsMightier]

^This (what Buster emphasized)-squared.

There are no standards for how banks incorporate security features into bank drafts. None!

[Buster]

Honestly, I just force buyers to wire me the money. If they don't like that, then go fuck your mother.

[flipstah]

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Honestly, I just force buyers to wire me the money. If they don't like that, then go fuck your mother.

This is your theme song blasting as you drive away,

[Buster]

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This is your theme song blasting as you drive away,

I was giving me old water softener away on Kijiji *for free*, and a dude asked if I could warranty that it still worked.

[rage2]

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Hahaha holly shit...I'm pretty sure she goes to the same gym as me. I've seen her driving the car and it just clicked to me that it was your old one. I would never in a 100 years believe that girl drove an E53 until I saw it for myself.

How’s the car looking these days?

Don’t judge a book by it’s cover. I mean I’m rolling around in a beater Sentra right now, should go test drive some cars rolling up in that haha. But ya, aside from the red flags (she also had a Quebec phone number still) it was the smoothest transaction I had on the day of the sale. She even drove me home.

[ThePenIsMightier]

Avril hasn't aged a bit!

[andyg16]

It looked good last time I saw, I was honestly so confused at first. I was tempted to ask who helped spec her car thinking she might have bought it new lol now it all adds up.

[Rocket1k78]

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I've read cases where a private sale was done; received a bank draft; went to deposit it to the seller's bank but it was fraudulent; went to report the case to CPS and the driver's license was fake too.

I like the one where the bank teller hands you the draft. So long as the teller isn't in on it...

/tinfoilhat

This is very real. I honestly thought i got scammed in october with a fake one. Kijiji deal was just way too smooth, had it listed high and the service sus light came on the day before viewing and the buyer didnt ask for a cent off. They came back with a draft and took the truck. I realized a couple hours after that i forgot to take the plate off so i texted her and then noticed it was a green text instead of the blue like before. All texts before were quick but an hour went by with nothing so i called them and sure as shit it goes straight to voicemail. Its saturday night now so i cant even run to the bank with it. Send another text and same thing, i call them sunday and again goes straight to voicemail. I even googled how to tell a fake draft on sunday lol Monday morning she finally calls me to say they went straight out to their farm and theres no reception there.

[2020]

Thanks for the replies
I’ve confirmed with the buyer that we will go together and get a bank draft from the teller. He’s seems cool with that, then I’ll walk across the plaza to deposit it right away at my bank. Should work out unless the teller is in on the scam.

[RX_EVOLV]

If you are both using the same bank and they can just do a money transfer on the spot without even going through the bank draft route.

[heavyD]

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How’s the car looking these days?

Don’t judge a book by it’s cover. I mean I’m rolling around in a beater Sentra right now, should go test drive some cars rolling up in that haha. But ya, aside from the red flags (she also had a Quebec phone number still) it was the smoothest transaction I had on the day of the sale. She even drove me home.

When you getting your new car?

[jaylo]

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Yeah, great to spectate, not to be a part of.

When I sold my S4 it was a super weird sale. Same thing, guy showed up in a mid 90s altima that was beat to shit. Didn't even have both shoes on when he got out of the car, and it looked like he lived in it. Then the second time we met, he showed up in a clean, reasonably new, tastefully modded STI. After that, it was a normal-ish deal, paid w/ draft like an adult.

I have used this tactic many times. The poorer you look, the more buying power you have.

Obvious that if I show up in a BMW in a private or any dealership, no negotiation.

I showed up in my e-bike with my cool bicycle outfit (biked from downtown to Deerfoot Meadows) to Porsche Calgary and they were looking at me like I'm crazy.

[bjstare]

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I have used this tactic many times. The poorer you look, the more buying power you have.
[snip]

Maybe this works if the seller is under pressure to make the sale. In my case, I didn't need to sell. It's irrelevant to me if the buyer looks homeless or hood rich, all I care about is if they're willing to pay what I think is a fair price.

The most negotiating power (regardless of what side you're on) comes from being ready to walk away.

[rage2]

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If you are both using the same bank and they can just do a money transfer on the spot without even going through the bank draft route.

The only issue is, in rare circumstances, banks can reverse the transfer if there’s a problem and put the responsibility on you. This is what my bank told me. They can’t reverse a legit draft, or a wire transfer. Both goes through more stringent checks before it’s issued and it’s on the issuer if there’s problems.

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When you getting your new car?

No clue. Think all the truckers left for Ottawa.

[killramos]

I maintain there is a market opportunity for an escrow service specializing in exactly these types of transaction.

[ExtraSlow]

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I maintain there is a market opportunity for an escrow service specializing in exactly these types of transaction.

Any lawyers office should be able to provide this service, but the speed and cost might both be unpalatable.

[Buster]

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The only issue is, in rare circumstances, banks can reverse the transfer if there’s a problem and put the responsibility on you. This is what my bank told me. They can’t reverse a legit draft, or a wire transfer. Both goes through more stringent checks before it’s issued and it’s on the issuer if there’s problems.

No clue. Think all the truckers left for Ottawa.

There basically had to be deliberate fraud on your part to get it reversed.

[killramos]

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Any lawyers office should be able to provide this service, but the speed and cost might both be unpalatable.

Right. I mean not at the fees a lawyer would charge. Focus would be on speed and volume.