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Selling to a buyer overseas

Discussion in 'The Hokey Ass Message Board' started by Creature13, Jun 4, 2006.

  1. Creature13
    Joined: May 13, 2006
    Posts: 354

    Creature13
    Member

    What is the protocol for selling a vehicle to a buyer overseas. I've heard of a bunch of scams. Has anyone done this succesfully and/or gotten burned?

    --Mike
     
  2. muffman58
    Joined: Oct 24, 2003
    Posts: 999

    muffman58
    Member

    I have sold two cars overseas with no problems. One in S.Korea, and one in Germany. I received payment by cashiers checks and DID NOT release cars or titles until I had the cash in hand after checks cleared the bank. Yes, there are ALOT of scammers out there but if you use your head I think you`ll do fine. Beware the people that will tell you their going to pay you more that asking price,SCAM! Banks like Nigeria,Rwanda,etc. SCAM! Get the money in you`re hand before you release anything! FWIW
     
  3. WildWilly68
    Joined: Feb 1, 2002
    Posts: 1,724

    WildWilly68
    Member

    I'd even be leary about a cashiers check....there were some people locally that got burned on a scam with a cashiers check. Even a week after the transaction the bank said it was good...until about another 3 days. Wire transfer from their bank to yours is the safest way. Talk to your banker and they will help you out.

    Bill
     
  4. Andy P
    Joined: Oct 1, 2004
    Posts: 27

    Andy P
    Member
    from UK

    I'm in the UK, and purchased my '33 truck from Tonawanda NY State in '04 (Egay purchase). I wired the cash over the guy's bank account with no problems. I also arranged all the shipping, including getting the truck to the port by flat bed. All went smoothly.
     

  5. Creature13
    Joined: May 13, 2006
    Posts: 354

    Creature13
    Member

    The wire transfer sounds pretty solid. Thanks for the advice.

    The seller also wants to send a smaller amount than the total to hold the car. But, I think I want to deal withg all the cash in one single transaction, to keep it simple.
     
  6. Just to be sure you dont get ripped, just send the car to me. (Free of charge of course) That way the car will safely get overseas and I wont rip you off if no money has to cahnge hands..............

    Well it was worth a shot...........
     
  7. Deuce Roadster
    Joined: Sep 8, 2002
    Posts: 9,519

    Deuce Roadster
    Member Emeritus

    Set up a separate bank account with very little money in it ... for the transfer to go to.

    TALK to your banker ... and let him help protect you and your assets ...
     
  8. sephgato
    Joined: Dec 15, 2005
    Posts: 699

    sephgato
    Member
    from fenton

    I sold a 58 oldsmobile super88 to a guy in sweden with no problems. the easiest and safest way to do this is set up a seperate checking account at your bank , tell them it is to be a stand alone account(not joined with any others) there is a country code that you will need to obtain from the buyer, you give them the acount number, they have the money transfered to your account when it shows up, withdraw the funds and close the account (50 dollars cost to you usually). I know it sounds scary but I did it with no problems at all, it was actually easiier than selling it normal.





     
  9. The37Kid
    Joined: Apr 30, 2004
    Posts: 27,881

    The37Kid
    Member

    I sold a car to a fellow in Italy. He wired the money to my checking account after I had a talk with my local branch manager. I think it took about two weeks after the funds arrived for a rollback to arrive and deliver it to the docks. The buyer had arranged all of that and there was no big deal with paperwork. This was a rolling project car, a runner with title may be a bit different. No big deal, if I deside to sell something buyers with the funds from just about anywere are welcome.:)
     
  10. Creature13
    Joined: May 13, 2006
    Posts: 354

    Creature13
    Member

    Sounds Good.... Hey wait a sec!!!
     
  11. Creature13
    Joined: May 13, 2006
    Posts: 354

    Creature13
    Member

    Good idea... Thanks
     
  12.  
  13. Deuce Roadster
    Joined: Sep 8, 2002
    Posts: 9,519

    Deuce Roadster
    Member Emeritus

    I am just saying WHAT my Banker guy told me ...
    He said it was the safest ... way ... with the least risk ...


    :D
     
  14. Just sold my 71 Charger to a New Zealander. It's really this simple... have the buyer write you a check. Take the check to the bank, deposit it...and wait.

    If they're on the level, the check will clear. When the funds post, mail the title to the address on the check. Tell the buyer that this is the only address you will send the title to. If they want the car, they'll make it work.

    Don't mail anything anywhere until you can go down to your bank and withdraw the entire amount of the sale from your account.
     
  15. attitudor
    Joined: Sep 28, 2004
    Posts: 2,975

    attitudor
    Member
    from Finland

    I'm reading this post from a different view but just wanted to let you know that I have wired money for two cars to my wife's US-bank account. It took almost a week before it was withdrawable here in US, but it was the most convenient way to send some money here from my foreign account. Even though it cost me something like 25 euros it still was the cheapest and easiest way to do the transfer with no hassle.
     
  16. Scams work both ways, remember. In the last couple of years, American cars have been pouring into New Zealand, and most transactions go just fine, but I've heard of two instances where the buyer has been delivered a car that was misrepresented. Both instances concerned the amount of rust present in the car.
     
  17. Why waste my time with a check. Overseas checks can take weeks, if not months to clear. That is the scam. You get a check, cash it, forward cash for shipping the vehicle and then the check does not clear in a few weeks. Wire transfer is the ONLY way to go.
    Even US checks can take a month or more to clear. I sold some parts on ebay last year, a month and a half later my bank tells me the guy's check bounced.
    Not to mention that when it bounces, YOU will get stuck with the bank fees. Wire transfer is still the best way to go. Even better than cash.
     
  18. Thank god someone else said it. Yeah man if you're going to do a wire, setup a new account just for that and empty it as soon as it clears and close it.
     
  19. Creature13
    Joined: May 13, 2006
    Posts: 354

    Creature13
    Member

    OK.. Not to beat a dead horse, but I want to make sure I protect myself. I wouldn't really be that worried, but I just got thru with a huge fiasco with the DMV from selling a car and having the buyer do something shady with the title. That will be the topic of a brand new thread.

    Here is the latest correspondence:


    And a follow up email with:

    I understand him needing the contact and bank info, the part that has me concerned is the faxing of the title, I guess as long as it is just the front it should be OK. I am setting up an exclusive account for the transfer. Let me know if you has more advice, and if I am overlooking any details.

    Thanks
     
  20. Creature13
    Joined: May 13, 2006
    Posts: 354

    Creature13
    Member

    So, there's nothing to worry about faxing the title? Is this what you did?
     
  21. krylon32
    Joined: Jan 29, 2006
    Posts: 7,132

    krylon32
    Alliance Vendor
    from Nebraska

    Did this twice last year, once to England and once ot Portugal. My bank recommended a seperate wire transfer account. Customers both arranged the shipping although I stipulated that both cars be shipped by inclosed transport, for the cars and my protection. Sent each car with a clear title and bill of sale and both arrived at their destination although the PU had someone step in the middle of the hood. I had no problems.
     
  22. Creature13
    Joined: May 13, 2006
    Posts: 354

    Creature13
    Member

    Thanks for the feedback.
     

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