Need your advice guys. I listed my evo IX on ebay, and it sold this past week. The buyer is a used car dealer that is planning on reselling the car to a buyer in Europe. I requested a $200 paypal deposit, which he has sent, and I made it clear that the balance is to be paid for by cashier's check. He told me that it will take him about a week or so to get his buyer's money and then a cashier's check for my payment. He asked if I would take a wire payment. I told him I would not accept a wire payment. Has anyone run into a similar situation? What are your thoughts?

 

No but just wait til he sends the check, cash it (do not deposit into your bank account) then release the car to the buyer. Afterwards you can deposit the lump cash into your account.

If the buyer comes up, both of you go the bank and cash the check. Make sure it is a certified check of western union type of payment.

 

Thanks for the advice Deranged. Although, even if I had the cash and the "cashier's" check ended up bouncing for whatever reason, i.e. fake cashier's check, wouldn't my bank make me liable for the cash extended to me for the cashed check? I guess I should just talk to a bank in the morning. But it's good to hear your opinions or similar experiences.

 

You can take the wire transfer this is the best way, the money is deposited in your account directly from his account to yours no problems then.

 

+1 on the wire. It is the safest+fastest IMO.

 

Yes i agree, we use wire transfer all the time for international customers.

 

i would do a wire transfer...

if not when u get the cashiers check you call the 800 number on it to make sure it hasnt been cancelled... To cancel a cashiers check im pretty sure you need to actually have it inperson, so he cant cancel it after the fact..


Cheers!

 

Or spring for an escrow service...

He pays the escrow service
Escrow service confirms funds and lets you know it's OK to release the car
Buyer gets car and confirms condition, etc. Let's escrow service know it's OK to release funds
You receive funds.

Costs a little bit, but if you use a reliable service, it protects both parties nicely. I've used them a couple times when selling audio gear.

 

This sounds EXTREMELY fishy. A "used car dealer" reselling the car "to a guy in Europe", are telltale signs of these scams. The cashier check will be a forgery, and you won't discover that until at least 14 days after you get the check. Meantime, they will pressure you into shipping the car. Do not give them any bank information, and offer to accept Western Union, which he will likely refuse to do.

If you take a cashier check, don't even think about turning the car over to them until you have the check positively validated and cleared (usually over 14 days).

Ebay is the modern day den of thieves, that not only harbors them, but brings them a consistent supply of victims to rip off and scam. Think of it as Vegas. You might "win" a decent deal here or there, but ultimately the "house" will get your money.

 

I would also be VERY weary of many escrow services. Whatever your do, don't use an escrow service this buyer suggests. Find your own, research their record thoroughly, and proceed with caution with an escrow service. Escrow service scams are also very big with ebay purchases.

 

IMO it really is'nt that fishy at all.
1st check the name of the used car dealer,Make sure it sounds legit.

Get the name of his bank, check with yours to make sure they will accept.

Have him wire the money to you.

 

Some people are so paranoid! Wiretransfer is completely safe and easy. If hes going to send you a check. Ask for the check number, account number, and phone number. Most bank certified checks have a hotline that allows the receiver to call the bank and make sure the funds are available.

 

Never take a cashier's check for an amount like this. Cashiers checks are easily forged. Your bank will take at least a week to clear the check and free the funds.

You're much better off with a wire.

 

why would you tell him you would not accept a wire transfer???

Also you can't just "cash" a cashier's check, without using your accout.

In any case - take a wire payment into your accout. There's no safer method to get money besides real cash in person. Take it from a banker.

 

i heard about something like this on tv where the money was promised and it never came through. i agree with the cashiers check money cleared with your bank and then send the car. What can it hurt? If you don't deal with this often i would be very skeptical. JMO