Payment for eBay car I'm selling

I've got a guy interested in my Mini in FL (I'm in PA). He wants to have it transported vs picking up in person and we're trying to figure out how he can pay for it. I'm aware of the usual scams involving checks and wire transfers so prefer a cash transaction but wondering if there is any safe alternative? Ebay's suggestion seems to be a bank to bank transfer/deposit. Is there any way that could be 'reversed' by the buyer?

Personally, I think buying any car based on photos is a bit insane, particularly a car like the Mini, but if I can make a sale...

drive and meet half way. western union deposit covering your gas for 2 cars there and back.

I've bought/sold several cars that way. Yes, it does take a bit of a leap of faith to buy a car from photos, but so far I've never had any issues. I always ask an E36 M3 load of questions before I buy. If I'm the seller, I try to make 100% sure the buyer is 110% clear on what they're buying.

As for payment, I've usually done bank checks. As the seller, I make it clear to the buyer that the car doesn't leave my possession until the money has cleared and my own bank assures me there is no way it can be reversed. If the buyer balks, then they can shop elsewhere.

It's been a while, but I've also used a service called www.escrow.com. In summary, both the buyer and seller register and agree to the terms of the sale (price, how many days the buyer has to pay, how many days the seller has to ship). The buyer gives the money to escrow.com. Escrow then lets the seller know it's OK to ship the item. Seller sends. When buyer receives, they confirm receipt and "release" the funds. If the buyer doesn't like the item, they then must return it at their own expense to the seller in order to get their money back. If the buyer just takes the item and walks away without telling Escrow they got it, the money automatically gets released to the seller. Again, I haven't done it in years, but it worked out great when I did it.

With all the Nigerian scammers, it's a problem. I discussed this with my bank recently, as I am looking to purchase a car in the 25 large range. I don't want to walk around with 25 large in my pocket. I'm not afraid of being robbed, as I think I can probably shoot my way out of any situation there, but I am afraid of being stopped by the PoPo and having it "confiscated" and then having to get a lawyer and try to get it back, which takes years. These incidents are happening all over. That one you can't shoot your way out of. So, no carrying large amounts of cash. The bank said that I could arrange (in person) for a wire transfer, then they could hold it and send it through when I called. To do that, I would need the other person's bank account/routing info. Of course, the scammers are all asking for that too, so it looks suspicious. The other thing would be to get a bank check, which the seller's bank can call the buyer's bank to confirm it is good. That's all we could think of.

The last time I received a wire transfer, I set up a free checking account specifically for that transaction. The only stipulation was that I needed to keep $100 in there for 90 to avoid a $20 penalty. As soon as I knew the transfer was made, I withdrew it and deposited it into another account. 90 days later, I withdrew the $100 and closed the account.

Bank to bank wire transfer is your best bet. It's an unusual transaction because you don't do it everyday, but it's pretty standard. You're on the good side of the transaction because for a moment you will have the money, the car and the title. It's your bank that will be receiving, so let them do their thing and tell you when they're happy. Have a bill of sale that describes the process(I agree to sell car Vin abc for def dollars. Money is to be wired from bank asd to bank fgh on date. Also note that when the wire transfer is completed, ownership changes. Important from an insurance (and transporter loading) perspective.

I've done this from the buying side, and yes it's a leap of faith. I asked enough questions and, since he was a member of a forum community, I could "watch" his past and also pm others about his character. But I still had to explain to my wife that I was sending >$10k to a guy I'd never met, 3500 miles away, and the car would be transported by someone we didn't know, and it would arrive in, oh, two weeks. The first transaction is the hardest. Then it become routine.

If you are on either side of this deal and have a bad feeling, trust that feeling.

What? You're in PA... and selling your Mini... and didn't tell me???? >:-[

As others have mentioned, a bank-to-bank transfer is the way to do it. Talk to your bank about what you're doing and what they need from the buyer to be sure they're satisfied. Then tell the seller that the title doesn't change hands until your bank is happy.

I've done this as a seller with basically a conference call between the buyer, my bank and myself. If you and the buyer can physically be at your respective banks and just have the banks call each other, that may be even easier.

A bank check is an alternative, but again, ask your bank what they want to see on their end.

And if your buyer balks at any of these, walk.

I do wire transfers all the time. Have never had any kind of a problem, except Trinidad banks like to hold on to USD for several days. If you decide to go this route, inquire about delivery times. It should be no more than overnight.

Ian F wrote: What? You're in PA... and selling your Mini... and didn't tell me???? >:-[

You have a PM.

ddavidv wrote:

Ian F wrote: What? You're in PA... and selling your Mini... and didn't tell me???? >:-[

You have a PM.

I'm tempted to ask for details too, but I think there's no room at the inn :(

Just search "Austin Mini" on ebay (or back a page on Mini Mania's classifieds) and you'll see a white 1979 one with pseudo Minilites. Not Challenge priced, so can't really post about it here. Would love to sell it to a GRMer vs some clown who thinks he can use it for a daily driver in Minnesota. Funds will, of course, be used to purchase another fun and completely pointless vehicle.

ddavidv wrote: Just search "Austin Mini" on ebay (or back a page on Mini Mania's classifieds) and you'll see a white 1979 one with pseudo Minilites. Not Challenge priced, so can't really post about it here. Would love to sell it to a GRMer vs some clown who thinks he can use it for a daily driver in Minnesota. Funds will, of course, be used to purchase another fun and completely pointless vehicle.

It's the "other fun and completely pointless vehicles" which are standing in my way sadly. Unless you wanted a 53 Studebaker truck ;)

JThw8 wrote: It's the "other fun and completely pointless vehicles" which are standing in my way sadly. Unless you wanted a 53 Studebaker truck ;)

That'd probably have a better chance than my offer of another E30...

I will trade it for a Ford Falcon with nice paint and body and a V8.

If you were anywhere within reasonable driving distance of Detroit I'd just put cash in your hand right now. That's all the money for an 850, but looks pretty clean.

Fly-n-drive. You know you want to.

In reply to ddavidv:

Oh I'd love to. Problem is, I'm in charge of our 4 month old 5 days a week, and work the other two. If my wife had a couple days off at the same time as me coming up it would work, but that hasn't happened in a while.