Money Transaction between seller and buyer

[rahi373]

What is the safest and fool proof method of money transactions while selling or buying a car. What all documents are necessary for both the parties before proceeding forward for exchange of car / cash. Please guide.

[TM]

I would say through bank accounts...if you are selling a car, ask the buyer to come to your bank and make the payment there, deposit the amount in your account (online transfer or cash...whichever) and please remember, if you are a tax payer and a filler, always route through bank accounts.

[rahi373]

Great tip. Stay blessed

[nomanbhatti2002]

pay order is also safe method but make sure that its not fake pay orders

[Nabs]

Because of this hassle I just sell my cars to a dealer. I sell at lower price, but I avoid all stupid questions by buyers and zero risk of fraud.

[aliaamar1101]

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[geforce911]

A.O.A

I sold my Corolla last year and this is what we did

after the buyer inspected the car and documents and agreed to price, My dad went to Bank (buyers account) and they made the pay-order in 20 minutes. after that we went to the our bank to deposit the pay order slip! although we got the cash after 2 days but we knew that pay order was genuine! if possible go with the buyer and make a pay order on that time. so you wont be fooled if someone gives you forged pay order.

[biloo]

Agreed. I did the same a couple of days before after selling my car.
Authenticity of pay order is confirmed plus their are no doubts left in ones mind.