Should I only accept cash when selling my TJ?

Tscott

Tscott

TJ Enthusiast
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I have a 2004 I'm ready to sell, but have never sold a vehicle before. I have it on Facebook Marketplace. Should I only accept cash? I understand some people use counterfeit certified funds.

Should I prepare a bill of sale?
 
Post it on this forum too, especially since it's a TJ.

ONLY accept cash and cashiers checks.

If they give you a cashiers check from their bank, call the bank and ask them to verify it over the phone. They'll ask you for the numbers on the check and tell you if it's good or not.

I've done this many, many times. You just have to make sure to call and verify the check first, so make sure you sell the vehicle Monday through Friday during normal bank hours.
 
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You are in Texas so you will need to do a couple of things. I will typically only accept cash. However, If the buyer is getting a loan, their bank may issue a check in your name but will send it to the buyer. You can call the bank to verify the check is good. Have the buyer send you a pic of the check ahead of time. You can always go with them to the bank that issued the check. Net is, cash is easier

1. You will need to fill out and complete a 130-U form (available online on TX DMV site)
2. A bill of sale is nice but you only really need a copy of the 130-u form above. However, you can add "vehicle is sold as is, no express or implied warranty" to a bill of sale.
3. When you sign the title, there is a top section you can tear off. Mail this to DPS to release the vehicle. This only needs to be done to ensure to the vehicle is no longer your responsibility (in case they don't title it). Mainly so tolls and parking tickets aren't charged to you after you sell it.

That's it.
 
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I'd say meet them at their bank and the bank and he/she can have the cashiers check made while there (then you know its ligit)....but if the banks in your area aren't opening thier lobbies that wouldnt work very well. Like Chris said, you can also call to verify at most banks but with some bank you have to call the branch they had it made at. If cash, it may be wise to meet at the police station.
 
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I would only accept paypal, western union, wire transfer or other ACH if the buyer is going to send a trusted friend to come pick up the vehicle. Extra trust if they want to send me extra money and I can give them cash back - super convenient!

(sarcasm)
 
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Meet the buyer at their bank. There you can see a cashier's check being processed and cut or the actual cash being pulled and counted out. This takes care of verifying all its legit whichever way the buyer pays you.

That's how I handled buying my TJ. Met the seller at my bank where they cut the cashier's check on the spot and also notarized the title transfer for free.

No hassle, no stress.
 
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Xposure said:
I'd say meet them at their bank and the bank and he/she can have the cashiers check made while there (then you know its ligit)....but if the banks in your area aren't opening thier lobbies that wouldnt work very well. Like Chris said, you can also call to verify at most banks but with some bank you have to call the branch they had it made at. If cash, it may be wise to meet at the police station.
Click to expand...

This is how I do almost all of my vehicle transactions when they don't involve cash. If someone says they're getting a loan you just meet them at their bank & do the business there. That being said I have not sold a vehicle post-covid, so I don't know what current protocols will allow.
 
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When I bought my TJ I took out a loan so that I could have some additional money so I could knock out all my upgrades at once. Having said that the seller was cool with me bringing a certified check. I bank with USAA and they will not give you cash, they only overnight certified checks made out to the seller. I have had people in the past though turn down my offer because I stated I bank with usaa and could only provide certified check.
 
Be wary since even if the bank says it's a good check it still may not be. Banks will often take deposits of various financial instruments like money orders, cashier's checks, certified checks, etc. and in 3 days they'll consider the device cleared and they'll make the $$$ available for someone to use to have the bank issue a certified check or a cashier's check. And if they get called by the seller of the Jeep they'll say it's a good check.

But what can happen is 5-15 days later that first deposit made into the buyer's account turns out to have been a fraudulent check. Then your bank after several days of processing sends the check over and then several days after that they get notified there are insufficient funds in the account to cover it... from that first deposit having been a bad check.

The scammers rely on how long it takes checks and deposits to clear at multiple banks which gives them several days to get away.
 
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Chris said:
Post it on this forum too, especially since it's a TJ.

ONLY accept cash and cashiers checks.

If they give you a cashiers check from their bank, call the bank and ask them to verify it over the phone. They'll ask you for the numbers on the check and tell you if it's good or not.

I've done this many, many times. You just have to make sure to call and verify the check first, so make sure you sell the vehicle Monday through Friday during normal bank hours.
Click to expand...

Plus one here. I sold two cars and one Buyer used a credit union so I was able to confirm with the Buyers credit union that the check was valid.

DaveC said:
Meet the buyer at their bank. There you can see a cashier's check being processed and cut or the actual cash being pulled and counted out. This takes care of verifying all its legit whichever way the buyer pays you.

That's how I handled buying my TJ. Met the seller at my bank where they cut the cashier's check on the spot and also notarized the title transfer for free.

No hassle, no stress.
Click to expand...

Second time I met a guy at TD Bank and did just this. Great call.
 
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Make absolutely sure you keep the plates off of it, and razor the inspection sticker off of it too. No joke. So many people have been burned by the buyer never registering it in their name. It doesn’t matter who your selling it to, do this. Until they put in their name, it remains registered to you. They can print off temporary tags from the DMV website which gives them 30 days, and they can do that over and over if they need to. If they get pulled over, they can show they just bought the vehicle with the paperwork (bill of sale, signed title) and it’s totally on them to have insurance.
Cover your backside without question.
 
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Tscott said:
I have a 2004 I'm ready to sell, but have never sold a vehicle before. I have it on Facebook Marketplace. Should I only accept cash? I understand some people use counterfeit certified funds.

Should I prepare a bill of sale?
Click to expand...
sell it to me for $1. I'll make it a cash transaction. Everything will be fine.
 
Mike_H said:
I've done both. Cash is definitely easier. I like to meet in public places when dealing with cash...I also generally have "protection" with me. Cashier's checks are good too, as long as you verify them.
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"protection" eh? Who? Smith and Wesson? Heckler and Koch? 😉
 
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