Crazy Bimmer

I want to make sure I do everything right. Found a buyer for my A4 and hes coming up from Texas to get the car.

Here are the 3 options

Now I plan to do number 1. What can I do to cover my ass here?

I have the title btw, so theres no payoff to get it.

odessa

Or he can bring cash and you will not worry about cashiers check bouncing.

Crazy Bimmer

Im sure no one wants to carry $23k in cash around.

Of course i would call the bank and make sure the cashiers check is legit.

Problem is that I dont think his Credit Union will issue a cashiers check to him unless he has the title. Is that normal?

FastAcura

No, this is not normal. When I bought the Lexus I got the check from the credit Union, drove down to Missouri, handed him the check, picked up the car and the title. When I registered it, the Currency Exchange sent the title to the credit union.

FastAcura

All his credit union needs is a copy of your title, you should be able to just fax it to them in order for him to get the check and come out here...

Sly Raskal

iTrader: (1)

didn't know you were seling your car Jesal. What are you gonna get to replace it?

Crazy Bimmer

Oh just a copy of it, ok that makes more sense.

Anything else besides a Bill of Sale that i should have done when he picks the care up?

Crazy Bimmer

Yea i just put the A4 up for sale couple weeks ago. Still not sure what exactly I want but leaning towards leasing a 335i coupe while doing European Delivery.

Jesal on the autobahn

FastAcura

That should be about all you need, at least that's what I had when I bought/sold the last couple of cars.

mrsteve

iTrader: (1)

When I bought my car private party the seller had to fax the credit union the VIN, mileage, and price.

The credit union approved the loan and gave me a check made out to the seller. I took the check to the seller and he in turn gave me the title. I have 1 portion of the title and the motor vehicle administration has the other portion. The credit union has a copy of the title which was provided to them by the motor vehicle administration.

I wouldn't give up the title to the vehicle until you have a check in hand.

He could have the credit union make the check out to him, then he'll deposit the check into his account, and then wire you the money. Or it may be possible for the credit union to wire the money.

GreenMonster

Ahahaha... Might as well do it while you're young... There's enough time later in life for mortgage payments and conservative/cheap cars

Crazy Bimmer

Where you think that $23k in cash is going towards.

Found me a place

B K R

DO NOT sign the title until you get the check verified. Signing over the title is probably the last step in the whole transaction process. I have sold 3 cars to private party and thats how it has been. The bank/credit union is financing the sale so they would cut the check prior to salebeing completed. For verfication of the asset they made need proof of title, etc so that they can determine how much they can finance. Either way the new owner is probably putting some of his money towards it, so you may have to encash 2 checks one direct from the bank/credit union second from the guy. Request that both are cashier checks and encash/verify both before signing over the title.

And do get a notarized bill of sale.