16
The Best Way To Sell My Car For Cash
Who wouldn’t worry about money laundering and counterfeiting when selling their cars for cash? Accepting a huge sum of cash from a total stranger makes everyone apprehensive about accepting the deal because of the many problems a person can face later which can lead to a huge financial loss. The last thing you would want to know when you sell your car for cash is that the cash you were handed is of no use whereas you already handed over the keys to the buyer who has long taken the car out of town, state or even country. This is exactly what I was concerned about when I was trying to sell my car for cash. It seemed the perfect option as compared to other riskier options like bank transfer, cheques or a bank draft. of course, there is the option to get the payment through electronic transaction but it is not always a feasible option. Cash seems the best option but there are also many risks involved with that.
When I found a good buyer to sell my car for cash, I got immediately worried about counterfeit cash and money laundering which seems to be a pressing issue these days and is more apparent when selling cars. I wondered how could I get the cash checked before I handed the keys to the buyer. There was always a possibility of a criminal buying a car from me and paying dirty cash. What if I went to the bank the next day only to be told that the cash is fake? I thought about giving my bank details to the buyer and telling him to deposit the money directly before collecting the car but giving the personal bank details is yet another problem these days. Plus, the stories of people accepting cash for their cars in non- business hours and then getting all their money stolen from their home some mere hours later, was yet another thing that made me wonder how to store the cash before the bank opened the next day? Was my house safe enough for even a few hours especially when someone knew that I had this much amount of money at my place?
The best solution to sell your car for cash is to arrange for the buyer to meet at your bank where you would fill the deposit form without letting anyone know about the sensitive personal information. You accept the cash and hand it over to the banker. The banker checks the cash and deposits it immediately while you hand over the keys to the buyer. This eliminates all risks and it is the safest way to process any transaction.