I'm communicating with someone intereted in my car apparently from Malaysia.
I've already told him I need payment, as in CASH AMERICAN in my hands before I let the car go, but what else is involved with customs, shipping, etc.?
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i have shipped several panteras overseas. have the money wired to your bank. once that is done you have a trucking company pick up the car and taken to the dock. you then mail at the title and any paperwork you have to the customer. its easy and trouble free.
If they do anything wacky, like send you extra money so that you can arrange the shipping, watch out!
A buddy of mine got taken on a scam like this on a shipment deal.
Good luck
Rocky
Also make sure you take pictures of the car and get the guy picking it up to document and sign the vehicle mileage on the shipping paperwork, noting the physical condition of the car, and the general mechanical condition.
A buddy of mine got taken on a scam like this on a shipment deal.
Good luck
Rocky
Also make sure you take pictures of the car and get the guy picking it up to document and sign the vehicle mileage on the shipping paperwork, noting the physical condition of the car, and the general mechanical condition.
Mike, further to what Mike M. mentioned above; you send a completed Bill of Sale to the buyer, that includes your wire transfer info, and the buyer then has the funds wired directly into your bank account. The buyer will likely provide you with contact info for the freight company he or she has hired to ship the car. The freight company will tell you when and where to deliver the car. They will require a copy of the title at least 72 hours prior to the shipping date, so the export paperwork can be processed with US Customs. It's all pretty easy because the freight company handles all the necessary documentation. Just don't let the freight company send the original title with the car, as they have a habit of disappearing. Send the original title to the buyer via FedEx or DHL, etc.
I've got two gentlemen interested in Snow White.
Both want to wire transfer the money. My bank told me wire transfers often take 5 or 6 days to clear? Is that other people's experience?
Also, one guy wants me to help with arranging the shipping, and I don't think I should be a part of this.
All I want is once the wire transfer clears, is to cash it or move it to another account, and then sign and send the title Overnight via Fedex or UPS, and then have the car get picked up.
I've been told it's prety easy for the buyer to arrange pickup and shipping, so I'm putting that on them. I don't want to be a part of the shipping or pickup part of the sale. Once I have the money, and it clears, I'll sign and send the title, and then a truck should show up and take my love away, right?
Both want to wire transfer the money. My bank told me wire transfers often take 5 or 6 days to clear? Is that other people's experience?
Also, one guy wants me to help with arranging the shipping, and I don't think I should be a part of this.
All I want is once the wire transfer clears, is to cash it or move it to another account, and then sign and send the title Overnight via Fedex or UPS, and then have the car get picked up.
I've been told it's prety easy for the buyer to arrange pickup and shipping, so I'm putting that on them. I don't want to be a part of the shipping or pickup part of the sale. Once I have the money, and it clears, I'll sign and send the title, and then a truck should show up and take my love away, right?
Whatever you are comfortable with, but yes the shipping is usually left to the buyer, that way all the liability once it leaves your property/possession is on them.
Wire transfers are usually pretty quick, next day. I sold a Formula car a couple weeks ago, went with the buyer to a local branch of his bank and did the wire, before we got back to the house it was showing in my account.
Julian
Wire transfers are usually pretty quick, next day. I sold a Formula car a couple weeks ago, went with the buyer to a local branch of his bank and did the wire, before we got back to the house it was showing in my account.
Julian
Both want to wire transfer the money. My bank told me wire transfers often take 5 or 6 days to clear? Is that other people's experience?
Hi Mike,
Good luck with the sale.
When I wire transferred the funds for my car into California it took 5 business days for it to clear and appear in the receiving bank. But that's crossing an international border which really slows things down. Malaysia might be even longer. But if you have a guaranteed sale at an agreed price, waiting for the money won't be so bad.
Doug M
Hi Mike,
Good luck with the sale.
When I wire transferred the funds for my car into California it took 5 business days for it to clear and appear in the receiving bank. But that's crossing an international border which really slows things down. Malaysia might be even longer. But if you have a guaranteed sale at an agreed price, waiting for the money won't be so bad.
Doug M
quote:Originally posted by mike the snake:..My bank told me wire transfers often take 5 or 6 days to clear? Is that other people's experience?..
My bank puts a 5 day hold on funds transfer (even MY check from another bank) for amounts over 10K (or was that 100K?)
Overseas wire transfers often take 5 business days, sometimes even more if it is a small bank.
Tell the buyer to use a shipping broker, they handle all parts of the shipping from pick up to delivery and all customs paperwork.
When they come to pick up the car, they will do a vehicle inspection. Be sure to note on the inspection report, spare tire, tools, manuals and who you are handing the title to or sending to. Keep a copy of the title until the buyer gets the car through customs.
Tell the buyer to use a shipping broker, they handle all parts of the shipping from pick up to delivery and all customs paperwork.
When they come to pick up the car, they will do a vehicle inspection. Be sure to note on the inspection report, spare tire, tools, manuals and who you are handing the title to or sending to. Keep a copy of the title until the buyer gets the car through customs.
Mike, a wire transfer from Malaysia to the USA is quicker than one from the USA to Malaysia. Time zones have a greater effect on the speed of a wire transfer than borders do. Also, the US Treasury Dept. in New York will have a look at any USD transfer coming out of Malaysia although the amount is small, so that won't hold it up by more than a few minutes. Still, I'd be surprised if it took longer than 48 hours from the moment it's initiated. It would normally be completed within 24 hours. Also, once it lands in your account, it's cash, so there's no reason for your bank to put a hold on it.
When a wire transfer takes more than 48 hours to complete, it's because the bank didn't send it until the next day and/or, the receiving bank didn't put it into your account for some period of time after they received it.
When a wire transfer takes more than 48 hours to complete, it's because the bank didn't send it until the next day and/or, the receiving bank didn't put it into your account for some period of time after they received it.
Take a TON of pictures to document everything even how the car is loaded into the carrier's vehicle.
quote:Originally posted by mike the snake:
I've got two gentlemen interested in Snow White.
Both want to wire transfer the money. My bank told me wire transfers often take 5 or 6 days to clear? Is that other people's experience?
Also, one guy wants me to help with arranging the shipping, and I don't think I should be a part of this.
All I want is once the wire transfer clears, is to cash it or move it to another account, and then sign and send the title Overnight via Fedex or UPS, and then have the car get picked up.
I've been told it's prety easy for the buyer to arrange pickup and shipping, so I'm putting that on them. I don't want to be a part of the shipping or pickup part of the sale. Once I have the money, and it clears, I'll sign and send the title, and then a truck should show up and take my love away, right?
You're bank will make the difference on the deal. They can tell you when the funds are "guaranteed". My old bank almost broke the deal on a Pantera sale when it took them weeks to clear a wire transfer from the UK. The buyer almost backed out because he thought I was trying to scam him!