That's what I did - met the buyer at his bank and was there while they drafted the check.
Selling a car
- Thread starter Wizeguy
- Start date
That's what I did - met the buyer at his bank and was there while they drafted the check.
And then he places a stop payment on it before it clears your bank (just because the funds are available doesn't mean it's cleared either since that's part of the funds availability laws) and drives off in the sunset with your vehicle
.
WhiteHawk
Club Member
And then he places a stop payment on it before it clears your bank (just because the funds are available doesn't mean it's cleared either since that's part of the funds availability laws) and drives off in the sunset with your vehicle
I should include that when I do it, I walk out with cash. If you give them a couple days notice, they will get $30k for you. I bank with PNC, and half their branches don't even carry cash anymore (I guess it is Detroit branches but still). It is getting ridiculous. I went into the branch last Friday and asked for $2500 to pay a contractor and she said they had a $1500 cash limit plus whatever I could get out of the ATM. I ended up getting the $2500 after some sweet talking but I shouldn't have to!
-Geoff
wickettoby1
Forum Member
As someone mentioned before I’m not sure I’d accept 30k in cash unless i was handed it by the bank teller. I’m not in the know enough to know what to look for when it comes to fake currency.
4Gas$
Club Member
Of all the scams and people getting ripped off on car deals,
when was the last time you heard it happening from fake currency?
dave89iroc
Club Member
news article yesterday
Correct lol.
Maybe I should "sell" my cash validity knowledge skills as a part time job haha
https://www.wxyz.com/news/spot-the-signs-counterfeit-bills-showing-up-across-metro-detroit
And then he places a stop payment on it before it clears your bank (just because the funds are available doesn't mean it's cleared either since that's part of the funds availability laws) and drives off in the sunset with your vehicle
Totally understand there's still risk, just felt there was less risk being at the bank when they certified the funds were available and drafted the check.
4Gas$
Club Member
I guess I stand corrected. One always needs to be vigilant.
Seems there is a risk in any form of payment, but cash is
still the best in my opinion.
From that news story:
"They paid $12,000 in counterfeit $100 bills. The seller only noticed
when he examined the fake money, and all the serial numbers were the same."
Seems there is a risk in any form of payment, but cash is
still the best in my opinion.
From that news story:
"They paid $12,000 in counterfeit $100 bills. The seller only noticed
when he examined the fake money, and all the serial numbers were the same."
Sledder
Club Member
Gotta admit I usually don't check the serial numbers.
Detroit Gearbox
Forum Member
Thickness gauge pens for checking currency are really cheap.
More importantly is knowing WHO you sold the vehicle to.
I won't sell a vehicle without filling in the title and a valid Drivers License.
I take pictures of the filled in title, their drivers license and the person. I even snap a pic of the license plate of the car they arrive in.
If the seller is not good with that I will insist making the transfer at a sos branch.
I print those photos and keep that data in a file.
I do that for liability purposes.
More importantly is knowing WHO you sold the vehicle to.
I won't sell a vehicle without filling in the title and a valid Drivers License.
I take pictures of the filled in title, their drivers license and the person. I even snap a pic of the license plate of the car they arrive in.
If the seller is not good with that I will insist making the transfer at a sos branch.
I print those photos and keep that data in a file.
I do that for liability purposes.
4Gas$
Club Member
All the time. Saw one recently.
https://www.fox2detroit.com/news/ro...ter-thieves-pay-with-12k-in-counterfeit-bills
1fstfox
Club Member
I had this happen before. Tried to pull $4,500 from my account for a vehicle, happened to be a holiday weekend so the one branch that was still open couldn't do that much. Fast forward to last year when I bought the Harley, pulled $8k out of my account without calling ahead. They simply asked a few "screening questions" to make sure everything was "OK".
Usually my transactions are of a smaller amount, so I'm not as vigilant as I probably should be. But I tend to dig up any information on the person I'm doing a transaction with ahead of time. Facebook and other social media makes this a cakewalk in most cases. Aside from that I tend to meet at either parties bank, or the BMV. Depending on if I'm buying or selling. Makes things FAR easier to know the transaction is completed when the new title is printed. My Z1000 I had paid for, collected the bike, and when I went to transfer the title, both the seller and myself missed need the title notarized (when I was fairly new to Ohio and didn't know this was a necessary step in title transfers) I'd say Nick has ya on the right path with the amount of money involved and the potential buyer being from out of town. Should make for a pain free transaction.
Last edited:
ultradriver10000
Forum Member
Those pens don’t do anything if they wash a bunch of ones and print 100s on them. The paper is correct and that’s what the pens test for. You have to check the water marks and strips on them, even then it’s sometimes hard.
1fstfox
Club Member
Every pen I've ever ran across a newspaper turned gold as if it was a real bill. So I'd agree that they're not really worth using.
Detroit Gearbox
Forum Member
Correct. The pens only detect the thickness of the paper.
1fstfox
Club Member
https://www.banknoteworld.com/blog/how-do-counterfeit-pen-tests-work/
It's an Iodine that reacts to the starch.