Common-Sense Advice for Sellers
Selling a car online is a lot like advertising through a classified ad in the newspaper. When you sell your car using MotoTrader, use the same good judgment as you would if you were selling through the newspaper classifieds. Whether you’re communicating with potential buyers over the phone or via the Internet, the following tips can help you protect yourself against fraud so you can sell with confidence.
Confirm contact information. Before you transfer the title and turn over the keys, be sure you know how to contact the buyer if you need to. Verify the buyer’s address and phone number—an email address is not enough. And be particularly careful if the buyer is located overseas.
Secure payment first. Don’t transfer the title until you have the equivalent of cash at the agreed upon purchase price. If the buyer pays by check, wait until the check clears before transferring the title. Even if the buyer pays with a certified check, call the issuing bank to confirm the check has cleared. Use caution if the buyer proposes a complicated payment arrangement, such as a payment process that involves multiple steps, receiving payment through a friend or agent of the actual buyer or receiving a check for more than the purchase price and writing the buyer a check for the difference.
As in all consumer transactions, there is no substitute for a healthy skepticism and your own good judgment.
There are many internet scams and if a deal seems "too good
to be true," it