How do you typically purchase a car from a private party?

[ballmode]

Bring cash straight?

Bank Check (this is what I did for the last car I bought, only cost me $5 bucks to have my bank make the check)

Wire Transfer


Take most common scenario:

You see car you like and want to buy, meet buyer out of state and want to purchase. To save the trouble of having to come back a second time to buy the car how would you pay for it on the spot?

 

[Midwayman]

Plan on meeting during business hours at a bank to complete the sale ideally. Test drive and inspect prior. They should bring the clear title. You go in, get a cashiers check, they sign over the title. Most banks have a notary on staff should you want to go the extra mile on bill of sale, etc. Safe for everyone.

As the buyer its really easier for you. I'd take out a cashiers check and the rest of the negotiating room in cash. As long as you have the title and car you're probably okay. They're the ones taking the risk on a fake cashier's check etc. Make sure you run the VIN ahead of time and look for any funny business like out of state moves that might be a sign of them trying to clean a title of a salvage history etc. Double check the title matches the car. Check the VIN against the window and door jams at least.

 

[bryanl]

Some people who sell cars from their homes are actually working for used car dealers, meaning the cars are typical auction vehicles.

 

[Zivic]

depends on a lot of things

price of the car - not bringing a huge amount of cash; at least not with out a couple bodies coming with me.
sellers's expectation - cash/check/cashiers check
day of the week making the deal... if it's sunday, not likely a check of sorts will be accepted.

I'd say if you have the cash, bring it, otherwise a bank check will have to do

 

[Mide]

I've purchased 2 private parties and sold 4.

Usually you meet at the buyer's bank during the week, go in, the buyer will get you either cash or a cashier's check, you fill out the bill of sale and give it to the buyer and then sign over the title to the buyer. Afterwards the seller has cash that they can do whatever with or a cashier's check that is essentially "money from the bank itself...not the buyer's bank account".

Once when I was the buyer I use an online bank so there was no way I could get a cashier's check in 1 day. I did a wire transfer (a bit dangerous) but I knew the buyer was legit.

Once when I was the seller a guy brought around 13k cash to my house....super nervous that guy was...but hopefully I seemed legit. He totally stayed right next to the front door.

 

[Vetterin]

Cash has always worked real well for me. If the car is under $5-$6K I'll put what I want to spend on it in my pocket, make the seller an offer and show him the money. You might be surprised at how quickly some people will come down in price when they see the money.
If the car cost more I make my offer and tell the seller I have the money at home. He can follow me home with the car and paperwork, do the deal and I'll drive him back home.

 

[ViviTheMage]

I have done all 3 ... wire, check, cash, wire + check, etc... it depends on the seller and my level of trust with them. Deals ranged from 20k-35k, some dealers, mostly private party though.

 

[TridenT]

Cash.

Ideally at the owner's bank and you have multiple forms of identity about the car owner so that you can verify ownership and transfer of said legit ownership without issue.

 

[JMapleton]

All pennies. In a dark alley.

 

[jmai87]

+1 for a cash transaction AT or IN a bank if the amount is over 10k. Less than 10k, I'd say a very secure public location.

 

[RGN]

I've sold a couple of cars. The first one was to a dealer. Weird transaction, the dealer owed the buyer a car, the buyer found mine and we agreed on the price. I then took it to the dealer and they cut me a business check. (Pontiac GTO $15K)

The other was recently, cash transaction, for less than $10K.