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I live a couple of states away from a good offer on my car. I've already seen What is the best way to accept payment when selling a used car?, but the distance makes our meeting at a bank to transact not practical.

Any thoughts on my offering a promissory note to deliver car, title, and keys in exchange for a cleared personal check ($10k) + money order ($50) to cover any potential bounced check? I'd be fine with waiting for the check to clear and am just looking for a means to accept better offers outside the immediate area.

Brythan
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CHRISO
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1 Answers1

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Because someone has to physically take the car from one place to the other, mhoran_psprep's comment is spot on - the question you linked to is still relevant, even with the distance involved. Whoever picks up the car should pay for it through a "safe" method (cash, cashier's check if the bank verifies it with the issuing bank, a money order if verified with the USPS) that you then immediately deposit at your bank before you give them the keys. The bank can verify that the payment method is legitimate, at which point you don't need to worry about it being reversed days or weeks later.

If they express concern about providing you the money in advance of getting the car, their agent (since someone has to drive the car away) can hand it to you. If they don't have anyone they trust to hand you that much money who can meet you in person, and they aren't willing to provide it in advance, then they shouldn't be looking to buy a car out-of-state.

Bobson
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