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Forum Thread

is bank wire transfer safe for seller?

regguiy 409 106 July 24, 2012 at 07:18 PM

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Last Edited by regguiy July 24, 2012 at 07:27 PM
selling a auto to someone in another state, how safe is the bank wire transfer to the seller?

can these be taken back if say the sender claims fraud or etc?


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Quote from BayArea View Post :
Selling a car to out of state buyers isn't necessarily a scam.

For example, I own an M3. These cars were limited in production compared to others. On the M3forums, many buyers look outside of their local area to purchase the specific model they're looking for. Many purchase a car across the country and have it shipped to them.

The last M3 I sold, I had a potential buyer from Pennsylvania (I'm in California). We spoke through the forums first, email second, and finally on the phone. He was a legit buyer and I was a legit seller. I'd say it's a case by case situation.
wow..lucky that your not a victim of other crook buyer..
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Did the buyer actually come and see the car or send a close rep? If not then smell a scam. Why would anyone, out of state or not, buy without seeing?

If it is just a matter of out of state sale with wire transfer and your antennae are't up then I would go ahead. Yes banks have wire transfer fraud departments, but you will have a good trail of paperwork that the buyer sent you the money for the car he received - cant renege very easily or convincingly....
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