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      02-05-2013, 08:51 PM   #1
Dgrohl
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NEED ADVICE ASAP: selling a car to a dealer

Hi everyone...

I'm in Toronto and privately selling a car (not my F30!). Put an ad up on auto trader and got a call from a dealer saying he's willing to purchase.

He's made me an ok offer and is willing to do the deal asap. What I'm wondering about is the paper work. He says he'll take care of everything - in essence, he hands me over a cheque for the full amount, I take the plates and copies of the paper work and I'm done. He handles everything else.

I dunno..this just doesn't sound right does it? If I hand over the keys and the car, and the cheque and paperwork don't work out then I'm screwed aren't I?

Anyone ever done this before?
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      02-05-2013, 09:03 PM   #2
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Quote:
Originally Posted by Dgrohl View Post
Hi everyone...

I'm in Toronto and privately selling a car (not my F30!). Put an ad up on auto trader and got a call from a dealer saying he's willing to purchase.

He's made me an ok offer and is willing to do the deal asap. What I'm wondering about is the paper work. He says he'll take care of everything - in essence, he hands me over a cheque for the full amount, I take the plates and copies of the paper work and I'm done. He handles everything else.

I dunno..this just doesn't sound right does it? If I hand over the keys and the car, and the cheque and paperwork don't work out then I'm screwed aren't I?

Anyone ever done this before?
Or you could ask for cash.

I remember selling my last car online (AutoTrader and Kijiji) and getting several emails from dealers, but they were mostly interested in selling for the (lower) wholesale price. They do have to re-sell it after all. Selling to another (non-dealer) person could net you a higher resale, as it did for me.

Anyway, without exception everyone who emailed me wanted to buy with cash.
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      02-05-2013, 09:12 PM   #3
Dgrohl
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agreed. I would've thought a dealer would offer me a super low-ball price but his offer is not so far off...and to save myself the trouble of all those random ppl calling and emailing it's a bit tempting.

But I guess my main question is...is him doing all the paper work correct? He also stated that he does not pay HST because he's a dealer.
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      02-05-2013, 09:20 PM   #4
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Quote:
Originally Posted by Dgrohl View Post
agreed. I would've thought a dealer would offer me a super low-ball price but his offer is not so far off...and to save myself the trouble of all those random ppl calling and emailing it's a bit tempting.

But I guess my main question is...is him doing all the paper work correct? He also stated that he does not pay HST because he's a dealer.
Correct . I just sold mine to a dealer. Is it a BMW store?
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      02-05-2013, 09:33 PM   #5
Dgrohl
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Very interesting. Thanks 335BBS. It's not a BMW store. it's actually a used car dealer in Sarnia...he was looking for the car for a friend. I'm gonna make some quick calls tomorrow but at least I know someone else has done this! Thanks!
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      02-05-2013, 10:05 PM   #6
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You might want to get a certified check or bank draft that way you are guaranteed the money.
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      02-05-2013, 10:59 PM   #7
Dgrohl
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Thanks nick1212. I've read online that certified cheques and bank drafts can be faked. Not sure how to handle this part. But maybe i'm just being paranoid. lol
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      02-05-2013, 11:41 PM   #8
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I didn't mention certified cheques or bank drafts because of this reason. However if you want to go this way I believe you can verify by calling up the issuing bank.
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      02-06-2013, 07:09 AM   #9
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bank draft & certified cheque can be verified immediately at the bank.

Before handing over the ownership paper, tell the dealer to meet you at the bank and have it confirmed if it's real or not.
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      02-06-2013, 09:02 AM   #10
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Other option is Paypal. Tell him to send you the money via Paypal, hand over ownership and keys once you have it. Usually takes half hour for transfer to your bank account. Other option is email money transfer thru his bank.
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      02-06-2013, 12:57 PM   #11
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Sounds like a scam to me...
ask him questions like where his dealership is located, if you can meet him there, that you'd prefer cash, etc
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      02-06-2013, 01:56 PM   #12
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well..I've done checks on the guys dealership. Seems legit. Issue is, the dealership is at least 2 hours away. I'm not wiling to go all the way there. Asked for cash, also to be verified at my bank (ensure it's not counterfeit). Seems legit b/c he originally was going to send a driver to pickup the car with a cheque and now that I've asked for cash, he's coming himself.

Who knew selling a car privately would be such a pain in the ass? lol
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      02-06-2013, 02:07 PM   #13
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Quote:
Originally Posted by Dgrohl View Post
well..I've done checks on the guys dealership. Seems legit. Issue is, the dealership is at least 2 hours away. I'm not wiling to go all the way there. Asked for cash, also to be verified at my bank (ensure it's not counterfeit). Seems legit b/c he originally was going to send a driver to pickup the car with a cheque and now that I've asked for cash, he's coming himself.

Who knew selling a car privately would be such a pain in the ass? lol
It's much more of a pain to sell via third party.

I personally think you're nuts for requesting/expecting cash. Talk about a safety risk! A bank check is going to be just as good... you can call the bank before you hand over the car and verify funding. If it bounces, you just report it as a stolen car Only half-joking, no way any respectable dealership would risk that kind of situation.
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      02-06-2013, 02:13 PM   #14
Dgrohl
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Here's the issue with cash vs. certified bank cheque/draft/etc...

Cash: you have to worry about counterfeit bills and this is not a small sum of money. I'd rather the bank check for fakes on the spot and then deposit straight to my account.

Cheque/Draft: Banks require a 5 day hold on anything up here. Then, I asked if they could verify if the cheque is legit (not faked) on the spot. Only way to do this is to go to the issuing branch...which is 2 hours away so it's not gonna happen.

He actually offered cash first...I said a draft would be ok thinking I could verify it. When i figured out I couldn't I told him cash. We'll see if he comes through. If he's a legit dealer, it shouldn't pose a problem at all.

And I totally agree - selling to a third party (regular person) is a bigger pain. I had one guy ask a trillion questions which I answered very nicely. Then he tells me he's on vacation and won't be back for a few weeks. I don't get ppl sometimes.
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      02-07-2013, 04:09 PM   #15
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Quote:
Originally Posted by Dgrohl View Post
Here's the issue with cash vs. certified bank cheque/draft/etc...

Cash: you have to worry about counterfeit bills and this is not a small sum of money. I'd rather the bank check for fakes on the spot and then deposit straight to my account.

Cheque/Draft: Banks require a 5 day hold on anything up here. Then, I asked if they could verify if the cheque is legit (not faked) on the spot. Only way to do this is to go to the issuing branch...which is 2 hours away so it's not gonna happen.

He actually offered cash first...I said a draft would be ok thinking I could verify it. When i figured out I couldn't I told him cash. We'll see if he comes through. If he's a legit dealer, it shouldn't pose a problem at all.

And I totally agree - selling to a third party (regular person) is a bigger pain. I had one guy ask a trillion questions which I answered very nicely. Then he tells me he's on vacation and won't be back for a few weeks. I don't get ppl sometimes.
Cant be too careful but its a FELONY to pass counterfeit dough.
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      02-07-2013, 05:49 PM   #16
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With the new bills it's much better than it used to be honestly.
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      02-07-2013, 05:49 PM   #17
Dgrohl
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All is ok. The guy was good and honest...brought cash, all in new polymer bills. Straight up a good experience.

Thanks to everyone for chiming in on this! And 335BBS is totally right - you can never be too careful.
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