Selling a used car is a great way to add few bucks into the bank account rather than leaving it in the backyard for rusting. A seller can either sell a used car to a local car dealer, privately to a buyer, at a car auction and to car scrap removal companies to get cash for car. It might take some time in searching a buyer who will give the best price for a used car or negotiating the price for the maximum profit margins.
But usually the sellers get confused when it comes to choosing the way for payment. Choosing the best way for car payment can make a big difference because risks are associated with it. A seller might not feel comfortable to accept a big amount as cash payment or if he accepts cash then there are chances that it could be counterfeit. Then what are the safe ways to accept cash payment?
This question needs answer. If you’re facing the same and looking for the safest ways to accept cash payment when selling a used car then here are the best and safest ways to deal the payment and protect you from scams.
Meet the Buyer at A Public Place
Cash is king as it is the best and safest way to avoid scam car dealer. It is significant to clearly mention it in the Ad of car that you’ll just accept cash payment so only serious buyers will contact you. In case a buyer is not willing the amount in cash then it is better to cancel the deal because no legitimate buyer will accept this form.
Once the deal is done then it is suggested to decide a public place for safe exchange. Don’t go alone for collecting the cash payment from a stranger. But it is risky as well as it is not safe to carry a big amount in a public place.
Meet the Buyer at Your Bank
Selling a used car to scrap buyers or junk car removal companies is the best to get the price. Apart from the price, the best thing about good car wreckers and companies offer instant cash payment with the receipts to make the process smooth and hassle free. But if you’re selling a car to an individual buyer then it is better to meet with him at your bank.
Receive the cash and deposit into your account and handle the paperwork there. Receiving the cash in a bank is the safest option because a bank is safe place and you can deposit that amount at the same time, so don’t have to worry about carrying large sums of money.
Choose a buyer carefully after questioning and avoid making any deal with a buyer who is reluctant to meet at a public place or preferring personal check for payment. Moreover, avoid arranging meeting at your home and do not expose bank account details and car to a stranger and don’t face them alone because exchanging money with a stranger puts a seller into risks.
Selling a used car to scrap car removal companies is a better option because they give your cash payment on the spot and complete the paperwork and seller can deposit the cash into the bank.