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How can I make sure to trust a potential buyer?
I currently have a car for sale on OldRide.com and I have never sold a car long-distance before. How do you recommend the actual transaction of money be handled to protect both me and the buyer? Sorry if this seems a naive question.
posted: January 31, 2008
  Answers (5)
I always wait until funds have cleared at my bank before I ship the vehicle and/or title. I think it can take up to 10 days for a check to clear. Even a cashiers check can still be fraud, so its best to wait. I would also suggest speaking with your bank to see what they reccomend and also get all the buyers contact information. Perhaps they will be able to pick up the car in person and pay cash!
posted:  February 1, 2008
Just be aware, anytime there is extra money they want you to send it is most likely a scam. I would not send any money or exchange any info with anyone that is asking you to refund extra money.
Also it can take several days for funds to clear, so be sure your bank verifies that everything has cleared or calls and verifies the check with the issuing bank. The more info you can get from the buyer the better.
posted:  February 1, 2008
More information about scam attempts is posted here: [url]http://www.oldride.com/scams.html[/url]. You can also find some tips for safely buying and selling online here: [url]http://www.oldride.com/helptopics.html?buyingonline[/url]

Bottom line, never send out any merchandise until you have cleared funds with your bank. Wait a proper amount of time for your bank to clear a Cashier’s Check. Remember, buyers may be just as apprehensive as you when it comes to sending out hard-earned money to unknown sellers so always stay in constant contact with your buyer to inform them of the progress.

Also remember, no legit buyer will ever pay you more than you are asking for your merchandise, any buyer willing to pay you over and above your asking price is most likely a scammer.

Play it safe and if you need additional assistance feel free to ask OldRide Support for assistance!
posted:  February 1, 2008
I ahve sold about 10 cars on Old Ride in the past 4 years as far away as Denmark. I live in Michigan. I always make it very clear what my expectations are up front. However I do wait until the buyer gets more serious my last ad had ove 5900 hits. I normally deal with cash in hand, or a wire transfer. I do not release teh car or title until funds have cleared teh bank. Especially if I take any form of a check. Last a good source also is postal checks if the amount is a lowere amount. Good luck!

posted:  February 2, 2008
Have the money put in your bank acct.from the buyer.Its call a money tranfer from bank to bank.
posted:  February 14, 2008