I went to a credit union and had his bank contact the credit union, who in turn had my bank on a party call. When the wire transfer took place and was confirmed by my bank, I signed a bill of sale and had the credit union i was at notarize it, and then my bank sent me the title of my car in MY name, via 2nd day air, when i got it, i signed it and sent it to HIS credit union via next day air fedexp with the bill of sale. When he got the title and bill of sale, HE arranged the shipping of the vehicle from Florida to Wisconsin, and I met the shipper about a week later.
This was all a little involved because i had not paid my previous car off in full prior to the sale, and i was paranoid about cashier's checks, and he was using his own financing company. its best to have his bank wire the money to your bank direct, that way they can confirm what they have to legally. In all it took a few days to arrange, but I had confirmation my car loan was paid off in full and they sent the title to me, plus i took the amount over the balance and had it deposited in my credit union account (who just happened to hold the title to my car) I then used the 10k balance as a down payment for the challenger when i bought it 3 days afterwards.
This was all a little involved because i had not paid my previous car off in full prior to the sale, and i was paranoid about cashier's checks, and he was using his own financing company. its best to have his bank wire the money to your bank direct, that way they can confirm what they have to legally. In all it took a few days to arrange, but I had confirmation my car loan was paid off in full and they sent the title to me, plus i took the amount over the balance and had it deposited in my credit union account (who just happened to hold the title to my car) I then used the 10k balance as a down payment for the challenger when i bought it 3 days afterwards.
