[DeTomaso] NPC - Selling a car on the Internet - question

[Jeff Cobb]

Please listen carefully. 
Cashiers and bank checks can have stop payments put upon them. I have done it.
I have never heard of a stop payment put against cash.

I sold a Lotus 11 LeMans wide body and a Lambo 400 gt in 1989 (I WAS DUMB AND STUPID) and took a cashiers check. Next day the Lambo went to California and the 11 to England and twenty two days later the cashiers check cleared. The mental pain was too much, even staying after the cash appeared in my account. NEVER AGAIN.

IN GOD WE TRUST, ALL OTHERS PAY CASH. This saying was created for times like this.
Cash was invented for the reason of fair trade and to remove trust issues. 
Cash cancels trust. Trust is the tool used in the absence of cash.
 
I had a lady (not) two weeks ago cancel her check to me because she did not approve me off replacing the massively leaking rear fuel line on her SL600 while we did other work. Fifty or so $'s for fuel leak with other repairs were about $400. So she got her car fixed for free till I sue her. If I would have taken cash only, I would not be writing about this now. Worst problem is that I  suspected she would do something stupid, but the 73 year old black lady minister said for me not to worry and I believed her. Shame on me. But I thought after about 200,000. customers that I could read the future. NOT!

I bought my three best (Mangusta-Espada-E430) cars off of eBay and my race car (Formula 6000) off of Hemmings. 
All were bought sight unseen and yes I did my due diligence. 
There were absolutely no problems and all were paid on diff levels.
But when all cars left the owners they were cashed in hand.

Cash must only be in your hand or the bank the moment before the car leaves!
Basically the car owner must always have the upper hand filed with cash.
And the trust issue must only belong to the buyer.

Cash is nice but never sell something you love. 

Good luck,
Jeff Cobb

On Aug 22, 2013, at 7:51 PM, Garth Rodericks <garth_rodericks at yahoo.com> wrote:

> Wait!  What's the date today?  No, it's not April Fools Day!  Ok the answer is "NO!"  Do NOT send the pink slip with only 50% of the cash received!  He owns the car, for half price at that point.
> 
> Options:
> 1. He send wire you all the money., Then you send him the pink slip. Then his carrier picks up the car.
>     You might provide a signed bill of sale and photocopy of the signed pink slip with change of ownership info filled out to give him piece of mindwhen he sends the funds, but don't release the pink until all funds are received and verified good.
> 2. He can hire an agent or friend to hand deliver the cashier's check in exchange for the pink slip, so you get your cash and he gets the title at the same time.
> 
> 3. Use an escrow service. He pays for the fees since it's for his protection. 
> 
> 
> Never release the title until you have "good" funds - verified cashiers check, wire transfer, cash, etc.
> 
> Cheers!
> Garth
> 
> 
> 
> --- Original Message ---
> Appreciate any advice you may have, as I haven't done this before.  Here is the situation.  I listed a car on craigslist, and it was found by someone in Florida. We negotiated a price, then he ordered an independent inspector to come by, and wired me a $500 deposit. He has now reviewed the inspectors report, and is happy with it, and wants to proceed with the transaction.  He is suggesting that now: 1) he wires me 50% of the money, then
> 2) i mail him the pink slip, then
> 3) he wires me remaining 50% of the money, then
> 4) he schedules a transportation service to get the car. Does that sound reasonable? What are the risks?  Is there a "normal" way to do this?  I know we could use an escrow service, but that can be a mess too.  appreciate any insights from those that may have crossed this bridge before... thanks,
> brent
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