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Old 09-10-2013, 11:11 AM   #15
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Originally Posted by calirider View Post
+1

Whatever you do go with them to their bank. But, giving out those pieces of information is not crazy, that is what you have to give to a bank to do a wife transfer.
Wife transfer! How do we get one of those?
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Old 09-10-2013, 11:13 AM   #16
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you guys do realise your bank account number and routing number along with name and adress is on every check you write.

A wire tranfer is just quicker than waiting for acertified check to be proccesed, mailed and clear.

Best avdise though....do what your comfortable with, its a lot of money

a wire tranfer is coming and the info he requested is typical. if he started askign for SSN or DOB you woudl have a real reason to worry. I would not hand title over until funds cleared.
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Old 09-10-2013, 11:14 AM   #17
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Originally Posted by strych9 View Post
A cashiers check is fine, but you need to be at his bank with him when he gets it. That way you'll know that it's authentic.
You'll knwo it authentic when the funds clear. Prior to that dont hand over title
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Old 09-10-2013, 11:21 AM   #18
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Originally Posted by Msmall143 View Post
You'll knwo it authentic when the funds clear. Prior to that dont hand over title
The title-holding bank can verify the cashier's check on the spot. I've done this myself. We go to buyer's bank, he draws a cashiers check in my presence. We go to my bank, cashiers check is verified, funds are exchanged, title released.
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Old 09-10-2013, 11:21 AM   #19
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Go to your bank, the one that holds your title, and ask them. Don't take financial advice from a bunch of people on a forum...
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Old 09-10-2013, 03:17 PM   #20
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i sold a car to a guy in canada and he needed basically the same info, my bank said with just my account number he couldnt do anything but add money to it, after he transferred them money i emptied my account (for a precaution). once i had the cash he got the title
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Old 09-10-2013, 03:34 PM   #21
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is he from nigeria? If so, I think I met the guy before...
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Old 09-10-2013, 04:25 PM   #22
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is he from nigeria? If so, I think I met the guy before...
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Old 09-10-2013, 08:22 PM   #23
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Well technically this is how it should work. You have a loan with a loan account number. You do not give him your bank account information. How it works is your bank has a general ledger account. His bank will wire what you owe to this account with a payoff note to your loan account number. The bank then releases the title to YOU.

He should then come with a bank certified check, cashiers check, or cash for the balance. Sign a bill of sale stating that the car is sold as is. Sign title take your cash and move on.
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