I am going to be selling my current car privately. I have an interested buyer. I live in the chicagoland area and the buyer is from Toronto. My car is a limited production somewhat rare car so it may be the closest one that is affordable. What is the best way to make a transaction to make sure that the payment is valid? Is a cashiers check the best way. I know cash, but were talking around $9000. thanks

 

Definately take nothing but cash or a cashiers check. Too easy to get swindled. Good luck

 

Most people don't know that a cashiers check can be cancelled by the buyer. I would verify with the bank that wrote the check that it is a valid/real check. Then I would hold the title until the check clears.

Give them a bill of sale and the car if the check looks good from the bank.
Send the title after the check clears.

 

An idea that WSB Radio host Clark Howard has is to meet the buyer at a branch of his local bank. Go inside together and watch as the bank officer or teller prepares a Bank Check using money from the buyer's account.

The teller hands you a check while you hand over the keys and signed-off title.

Then take the check to your bank and deposit it.

One solution...

Gary