question about selling viper.

[syclone1157]

What is a "safe" way of selling a car that still has a lien on it.
The buyer is in Virginia and he is not confident about handing over that kind of money without a title in hand. My bank would have to send me the title so that I could sign it and send it back to him. He would have the car shipped to him once he has paid the money which is fine with me. So how can I make him happy as far as him not feeling that he is about to get jipped?

Thanks Martin

 

[Big Medicine]

Escrow service.

 

[GotAViper]

You can ship it over to my house in VA it can stay in my garage that way he can at least know it's there for him? i wouldnt mind drooling over another viper in the garage for a while

 

[syclone1157]

Big Medicine,How does an escrow service work?

GotAViper: as long as you promise not to put on more than a couple of hundred miles on it .

 

[Warfang]

Big Medicine,How does an escrow service work?

GotAViper: as long as you promise not to put on more than a couple of hundred miles on it .

How many doughnuts can you do under 200 miles?

 

[GotAViper]

LOL, I would not drive it, If it were only to be a week or less I would have no problem keeping it in my garage. Now... if you didn't mind me driving it, I would obviously not mind

Except I only drive about 2.5 miles to work so it would be a waste!

my work has a security gaurded garage where i leave some of my cars for months at a time, I could just leave one of my cars there.

 

[Hoosier Daddy]

You can ship it over to my house in VA it can stay in my garage that way he can at least know it's there for him? i wouldnt mind drooling over another viper in the garage for a while

Or drill holes in the hood!

 

[Brian GTS]

The most important thing is YOU need to protect yourself. It is the buyers responsibility to do his research and ensure the deal is legitimate such as having a 3rd party inspect the car.

When I sold my 94 R/T, the buyer visited and inspected the car. The following week he wired the money and then drove up 2 weeks later to pickup the car transfer the title.

When I bought cars, I researched thoroughly to ensure the deal was legitimate. Then, I wired the funds to the buyer and in return the title was sent to me. In one case, the title could not be sent to me for 2-3 weeks for a similar reason. Its a risk for the buyer and thats the way it is.

If I were you, I would tell the guy to wire you the funds. (I would not accept anything else.) Then, immediately ship him the car while the title is being released. The buyer is going to have to have some trust in you regardless.

You can make the buyer feel better by having good communication throughout the process.

 

[96 B&W GTS]

I have used escrow.com in the past. Go to their site you can read about it there.

 

[RedLiner]

Or another way would be to take a line-of-credit on your house (if you don't have the cash) and pay off the car, then giving you clear title and eliminating this problem with any buyer.

 

[Gerald Levin]

Wouldn't meeting at the lien-holder's location be the easiest solution? Money could be wired to the lien holder in advance if required and a title could be prepared so the transaction could take place there. Of course that is contingent on the lien-holder being a major corporate entity and not a Pay Here or Else car lot.