Selling a vehicle online and shipping - any tips/pointers?

[BillGates]

I'm selling my motorcycle (in Wisconsin). A buyer from California is interested and seems legit thus far. He would be arranging to have the vehicle shipped out to him.

I would appreciate any links or pointers to work with as we begin this process as I don't want either side to get burned.

Things I'm concerned about are: How much the deposit should be (and what payment method should be used), when he gets the title, etc.

I've seen enough of those eBay/Nigerian scams to be leery and want to make sure I do the sensible thing throughout this to eliminate unnecessary stress. Side note: If something does go bad, I wonder if my full coverage insurance would cover it?

 

[blahblah99]

Originally posted by: BillGates
I'm selling my motorcycle (in Wisconsin). A buyer from California is interested and seems legit thus far. He would be arranging to have the vehicle shipped out to him.

I would appreciate any links or pointers to work with as we begin this process as I don't want either side to get burned.

Things I'm concerned about are: How much the deposit should be (and what payment method should be used), when he gets the title, etc.

I've seen enough of those eBay/Nigerian scams to be leery and want to make sure I do the sensible thing throughout this to eliminate unnecessary stress. Side note: If something does go bad, I wonder if my full coverage insurance would cover it?

As long as it doesn't involve you cashing a check and sending him the difference then you should be fine. Where is the vehicle getting shipped to?

I would at the very least get him to fax/send you his driver license, his contact and address, and speak with him on the phone.

I personally would just stay away from any deal of that magnitude that can't be completed in person face to face.

 

[BillGates]

Here is the plan he outlined with me:

usually write up a document of sales agreement, or transaction detail contract. Such document would indicate who's the buyer/seller, with contact info and what would be involved in the transaction, items with description and conditions will be describe inside. Then i send this document to the seller and have him sign the document (after i sign it first if i'm buying) and have him send back the document to make it a legal binding agreement..driver's license phtocopies etc. this way both parties have the same agreement form and shouldn't have any surprises..

So far i have never had to use the document for legal purposes ( i hope never) so its been okay for me..

let me know if that would ease things up a bit..

I can give u a deposit (cashier's check) and once the check is clear, u can send me the title, and i'll send u the rest of the money and u can send the bike after second payment is recieved ??

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My question is: Is it safe to send somebody a title after they only pay the deposit? I'm thinking that could somehow make it legally his even though he isn't in possession of the bike yet and could somehow get it from me without paying. I know it sounds paranoid but this is new to me and I don't want to get screwed over at all.

 

[Vic]

You should not send him the title until you have all of the money.

 

[jadinolf]

[ You should not send him the title until you have all of the money. ]

Make that MUST NOT.

 

[mdcrab]

You can also go thru an escrow company, but that will cost you additional money. It could be worth it for peace of mind.

mdcrab

 

[BillGates]

Any day crowd input? Thanks in advance.

 

I'd recommend meeting him if possible, i.e. renting a trailer and taking the bike down there yourself. And don't give him the bike OR the title until you've got 100% of funds due to you.