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Selling a car

1136 Views 9 Replies 10 Participants Last post by  Walaby
I wanted to ask those of you who have sold a car privately how you accepted payment from the buyer. I am thinking wire transfer since people have told me that cashier's checks are easily forged and difficult to verify. How did you work it out?
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If you have the car financed, usually you can have the buyer or his bank wire the money into the loan account (if you have one). I know that not all banks/credit unions do it, but if you do have a separate account number for your loan, then you should be able to give the buyer that number for the wire. That way you know that they can only deposit, not withdraw from the account, ever. Be sure to make sure with your bank that this is legit for you, though.

If you don't have the car financed, why not just go with cash?
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