Advice Selling to overseas buyer

I would only do it through some well known bank as an intermediary. The risk of being defrauded is very high.
BT

 

I've sourced cars from overseas before and as with any car deal, the golden rule is the car goes only when the money is in the account. Use common sense, the geographical distance presents some logistical problems, but the overal process shouldn't be any different to selling to a bloke down the road. If a buyer contacts you from europe (for example) its up to him to organise inspection, payment and collection.

Personally I've gone to pick up the car myself and paid there and then or the buyer has come to me and done like wise, then travelled back with the car.

Good luck with the sale. If you are looking to try and sell it in europe let me know I can point you in the direction of some respected car sites with no middle men.

BTW you will get emails offering to send you a bankers draft for more than the cars worth etc etc etc. But again, no cash, no car.

 

Yep, every long distance deal I've ever done was sitting at my banker's desk....when it came time to send or receive the money I handed them the phone to handle it!

I don't know that I'd even rely on my expertise to accept cash.......they print that stuff in back rooms around the world as well.....

 

Don't fall for the I'll send you a check for a extra 10k and you send me the change scam

 

I agree with allowing the banks to handle the transfer. Make sure you are dealing with a respectable European bank. If you don't like the bank the customer is using, tell them to use a bank of your choice to wire the funds over.

 

It's a standard bank transaction. The buyer should provide you first with an irrevocable Letter of Credit or a Bank Guarantee from his bank to a corresponding bank in the US which will be your bank. That way your bank will only supply the shipping documents of the car to the buyers bank when payment is effected. As long as the shipping documents are with you or with your bank, you are safe and the car is still yours. It will cost you some bank handling commissions, but it is the safest way and they should not exceed 1-2% of the transaction value.