First time remote vehicle sale questions.

[HoosierDaddy]

I'm selling a vehicle to someone in another state. They want to fly in Friday and drive it home but seem adamant about paying cash. Any tips, scams to watch out for, CYA bill of Sale forms, etc..

He says he may be too late to make the payment in my bank. FYI AZ does not require anything to be notorized

I will have a friend with me the whole time. Will get positive ID, have as much paperwork done ahead of time as possible.

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[Swtbabybilly]

Just watch out counterfeit money has come along way. If you dont know them insist they got to get to you earlier and your only willing to take a bank check and you will meet them at the bank to see it done. If they fight you like crazy about paying you in a safe way for the both of you walk away

 

[RobZ71LM7]

I would tell them no and if they have the time and money to fly out they can certainly ensure they arrive during normal business hours. I wouldn't trust myself to catch counterfeit bills-certainly not that many. And I'd want my bank to guarantee any kind of bank check is 100% before signing the title over. I once had Chase want a Chase bank check held to clear a couple of days when an out of state buyer came to buy my car. We both banked with Chase at the time! I'm like no, you tell me now or I'm not signing the car over.

 

[HoosierDaddy]

A few other potential buyers also insisted on paying cash. What is with that? Are they laundering money they came by under the table? I mean its pretty common knowledge that Feds and locals are know to confiscate cash at airports under asset forfeiture. If they do, you have to sue to get it back which gets even more expensive because the locals now know to launder it by "giving it" to the feds before you can even file the suit. Point being seems like a huge risk to carry tempting amounts of cash.

 

[robvas]

A few other potential buyers also insisted on paying cash. What is with that? Are they laundering money they came by under the table? I mean its pretty common knowledge that Feds and locals are know to confiscate cash at airports under asset forfeiture. If they do, you have to sue to get it back which gets even more expensive because the locals now know to launder it by "giving it" to the feds before you can even file the suit. Point being seems like a huge risk to carry tempting amounts of cash.

But you at least know it's real vs a check.

Feels weird going into the credit union to deposit a paper bag of cash though.

 

[HoosierDaddy]

But you at least know it's real vs a check.

Feels weird going into the credit union to deposit a paper bag of cash though.

But I hear rumors about counterfeit 100s made from real lower denominations to trick the test pens. But I think I have a foolproof plan..........

 

[robvas]

But I hear rumors about counterfeit 100s made from real lower denominations to trick the test pens. But I think I have a foolproof plan..........

Color wouldn't be right. Plus you can look into light and see the strip

 

[HoosierDaddy]

Turns out he will hit Phoenix around noon. Also turns out he's coming from Washington State. I had incorrectly thought he was from Texas because his email domain matched a business in Texas but the domain actually belongs to a business in Washington same as his phone area code.

He meets me and a friend in a parking lot between my bank and a 3rd party DMV.

He inspects and test drives.

We head to the bank (open 'till 6PM) to sign the title and bill of sale and deposit the cash in my account AFTER bank confirms not counterfeit.

Unless he feels lucky enough to not be stopped all the way to Washington State with no tags, we'll hit the DMV (Open 'till 7 PM) to acquire a 90 day 3rd party drive-away permit for him to drive back wherever. And I'll file my vehicle sold notice.

If we can't finish at the bank by 6 PM, he'll have to wait until Saturday when Bank (and DMV) are also open.

 

[Inthehighdesert]

It’s not that paying cash is somehow illegal, it’s that people have been programmed that if what you’re doing isn’t tracked there’s an issue. As long as your bank is checking the cash, which they are, there shouldn’t be any issues on your side. It’s not unusual to see very large cash transactions an equipment auctions. There’s still many that trust in cash more then banks. Half the stuff I sell gets done just like you’re doing. Meet at the bank, do the deal, move on with life. Your banks probably going to ask about the cash transaction(over 10k), and there’s nothing wrong with simply stating vehicle sale. Best of luck.

Turns out he will hit Phoenix around noon. Also turns out he's coming from Washington State. I had incorrectly thought he was from Texas because his email domain matched a business in Texas but the domain actually belongs to a business in Washington same as his phone area code.

He meets me and a friend in a parking lot between my bank and a 3rd party DMV.

He inspects and test drives.

We head to the bank (open 'till 6PM) to sign the title and bill of sale and deposit the cash in my account AFTER bank confirms not counterfeit.

Unless he feels lucky enough to not be stopped all the way to Washington State with no tags, we'll hit the DMV (Open 'till 7 PM) to acquire a 90 day 3rd party drive-away permit for him to drive back wherever. And I'll file my vehicle sold notice.

If we can't finish at the bank by 6 PM, he'll have to wait until Saturday when Bank (and DMV) are also open.

 

[sk47]

Hello; A few years back I had a new roof put on my home. The installer wanted cash which i was fine with. When the job was finished, I took him to my bank which is nearby. I had already asked the bank to have the cash on hand. Went smooth and i had witnesses he received payment in addition to the receipt he gave me.

I learned a thing from that. Banks might not have enough cash on hand for big cash transactions as a regular thing. When i checked with the teller she told me she would have to order extra to cover my need. Small town bank.

 

[Bob Lob Law]

I'd drive it back to Washington without going to the DMV. Bill of sale and heading to home state to do the DMV thing. I got pulled over in TX years ago doing the exact same thing and he was cool once I showed I had insurance and a bill of sale. My insurance said that they would cover any vehicle I bought.

 

[wingnutt]

Your banks probably going to ask about the cash transaction(over 10k), and there’s nothing wrong with simply stating vehicle sale. Best of luck.

my standard answer, I am a piano player in a cathouse…

my bank has since stopped asking

 

[HoosierDaddy]

I'd drive it back to Washington without going to the DMV. Bill of sale and heading to home state to do the DMV thing. I got pulled over in TX years ago doing the exact same thing and he was cool once I showed I had insurance and a bill of sale. My insurance said that they would cover any vehicle I bought.

I'm only suggesting he gets the permit since it takes 15 minutes or less.

Vehicle will have no plates or permit in the rear window. Odds of being stopped are decent.

Not all cops are nice or reasonable. In Utah back in universal CB days I was stopped because another motorist radioed I was going 5 MPG over the limit. Of course all he could do legally was waste my time. Then he asked where I was going and when I probably foolishly answered (any question). He told me I missed my turnoff and needed to circle back about 1/2 mile up the highway. I knew I didn't miss my turnoff despite GPS being a dream. Watched in the mirror to see him drive onto the media and aim his radar where I would be returning. LoL.

 

[HoosierDaddy]

Now I just hope his cash doesn't get asset forfeited in either airport.

 

[Bob Lob Law]

I'm only suggesting he gets the permit since it takes 15 minutes or less.

Vehicle will have no plates or permit in the rear window. Odds of being stopped are decent.

Not all cops are nice or reasonable. In Utah back in universal CB days I was stopped because another motorist radioed I was going 5 MPG over the limit. Of course all he could do legally was waste my time. Then he asked where I was going and when I probably foolishly answered (any question). He told me I missed my turnoff and needed to circle back about 1/2 mile up the highway. I knew I didn't miss my turnoff despite GPS being a dream. Watched in the mirror to see him drive onto the media and aim his radar where I would be returning. LoL.

He can. It's not necessary/required is all I'm saying.

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