Guest MistressMotorsports Posted March 30, 2004 Share Posted March 30, 2004 Anyone ever use an escrow service to sell a car? I have someone serious about buying my race car, but he's across the country. I was thinking he could send the money to an escrow service that would release the money to me when the car showed up at the buyer's place. I had a few questions: 1. What is a typical fee for this service? 2. What if the buyer gets but never signs off on the car, what happens to the money? He seems very honest, but you never know. 3. Where can I find companies that perform this service? 4. Anything else I should consider? Thanks for any help. Mike Quote Link to comment Share on other sites More sharing options...
Guest Aguyandaredhead Posted March 30, 2004 Share Posted March 30, 2004 A few more details might help.. Where are you located at and where does the car need to go? What type of shipping are you (or he) arranging? I say deliver it yourself if you can it is the safest way to complete the transaction if you have the means. I think most of the time by the time you pay the escrow service and wait an undisclosed amount of time to get your cash that it is as inexpensive to just deliver it or maybe meet him in the middle. Just my 2 cents which is not worth as much today as yesterday. Jeff Quote Link to comment Share on other sites More sharing options...
Guest MistressMotorsports Posted March 30, 2004 Share Posted March 30, 2004 The car is going from California to Ohio via Intercity Lines. They are one of the best and most professional carriers, so I'm not worried about them at all. I REALLY don't want to tow halfway across the country. It's probably cheaper to pay the carrier than to buy gas and a couple nights in a hotel. escrow.com is used and recommended by ebay, they quoted less than $200 for the transaction, which seems reasonable considering the amount of the transaction. Mike Quote Link to comment Share on other sites More sharing options...
Guest Aguyandaredhead Posted March 30, 2004 Share Posted March 30, 2004 Yea thats really better than I expected. I have used DAS in the past when I sold a 510 to a guy in Cali, they were great as well. Be sure to ask that the carrier has damage insurance not just liability on the car while it is on the transport, Most do not. They usually charge extra for this. I guess the 200 for escrow is not really that bad, as long as the car is as advertised and as well the buyer on the same page then I say go for it. It sounds like you have all the details worked out but it really is all about the gut feeling you and your buyer have to feel good about the transaction and then you both end it with a good feeling.. Jeff Quote Link to comment Share on other sites More sharing options...
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