So I’m trying to sell my ‘66 Mustang so I can buy a Cougar. I’ve shown it a few times through Craigslist. Normally I have great luck with CList, but not this time. I’m considering listing it on eBay. I’ve sold lots of parts, just never a car. Just wondering how the whole payment, title transfer goes. I understand you have a deposit. Then they either wire transfer,mail a cashiers check or cash in person. They set up shipping or pick it up. I’ve always waited for full payment before sending any items through eBay, same goes for cars? Do you just send the title (that you signed releasing interest) with the car or do you mail it separately?
Also, what payments have you guys used if you’ve sold through eBay?
I’ve sold several cars through eBay. My preferred method is a wire transfer. As soon as the money is wired in and available for my use, I’ll sign and send the title while the buyer arranges pickup. It’s a very secure method that gives the buyer an audit trail between banks. I’ve never had a problem doing it that way. Cashiers checks can be forged and cash can be counterfeit, so both of those involve a trip to the bank and verification of the funds before the vehicle or title is released to the buyer.
So a wire transfer. You would have to give your bank account info to the buyer correct? Or is it done bank to bank, meaning only the banks are dealing account numbers? Seems one could do some damage with ones account and routing info.
I don’t think someone can do a transfer without the involvement of bank personnel at both ends so it seems more secure than people think. Consider that your bank routing and account numbers are on every check you write. That’s really all you’re giving out for a wire transfer.
I’ve also used the wire transfer from bank to bank. Very secure and you know the funds are good when they are available. Three of our Cougars have been purchased that way.
Steven