Selling a truck tomorrow - need advise/tips!

nikki

Moto Junkie
Joined
Apr 21, 2000
Messages
5,802
Likes
1
#1
Hey guys - I'm a rookie at this so hopefully you guys can help. I put our truck on www.autotrader.com and got pounded with phone calls this weekend. The first guy is coming tomorrow night and it sounds like a done deal. He's driving 2.5 hrs to come see it.

I will have the title and he plans to have a certified cashiers check for the full amount made out to Red. He's not financing it - he's just paying outright. We're meeting tomorrow night at 7 pm after the banks are closed.

-Should I ask for the check # and bank phone number and call the bank today/tomorrow and verify that its legit?

-Should I ask for a copy of the guy's drivers license?

-What should I include on a Bill of Sale? Selling date/time, price, miles on truck, as is as shown, vin #? Our names and signatures of course. Anything else? Can I have 2 Bill of Sales that we both sign (a copy for us a copy for him) or do I need to have 1 and make a copy of it?

I did do a little internet research on the guy and he owns a Heating & Cooling company as well as a Horse Stable. Seems pretty legit to me - but ya never know.
 

LoriKTM

Super Power AssClown
Joined
Oct 4, 1999
Messages
2,220
Likes
4
Location
New Mexico
#2
As far as a bill of sale goes, when we've sold dirt bikes I've always made up 2 copies, one for us, one for them.

I included the date, with wording like... "... sold as is and as shown: one (1) 1995 Kawasaki KDX200 motorcycle.  Vin #...................   for the sum of $ xxxx. "

Then have space for all signatures and dates below that.  Including the mileage is probably a good idea as well.  (Not valuable when we sold our dirt bikes!) 

Sure can't hurt to get a copy of his driver's license (or at least the number off it) or compare the cashier's check against the bank it's drawn from.  
 

Zoomer

Lifetime Sponsor
Joined
Nov 17, 2000
Messages
835
Likes
0
#3
Hey Nikki,

I was always told not to put "As IS", this indicates you know something is wrong with the vehilce. "Sold with no warranty implied or intended".
 

JuliusPleaser

Too much of a good thing.
Joined
Nov 22, 2000
Messages
4,392
Likes
0
#4
Definitely check out the guy's check and bank. Have your bank verify that the guy is legit before you release the truck or title.

You should also have a third party sign the paperwork as a witness. If the title is in Red's name only, your sig will work as a witness.
 

jeffd

Naïve Texan
N. Texas SP
Joined
Jun 9, 2000
Messages
1,610
Likes
0
#5
Dittos on verifying the check. There are some pretty crafty check forgers out there, so I would not release the vehicle without 1st validating the check's authenticity.

-jeffd
 

oldguy

Always Broken
Joined
Dec 26, 1999
Messages
9,422
Likes
0
#7
Our DOT has a special receipt that is in duplicate that has all the blanks marked for the info needed to retitle the vehicle.
Be sure to include "as is" or "no warranty inrended or implied" or else you could be on the line for a freak breakdown.
Also be sure to get his DL #, full name and birthday (all needed to track down later) and write down the plate # on the vehicle he comes in.
Be sure not to send him out on a test drive alone especially if his other driver stays in their car.
 

Danman

Lifetime Sponsor
Joined
Nov 7, 2000
Messages
2,211
Likes
2
#8
I say ditto on all the above. I would make double sure that the check is legit. Lots of scams with forged cashiers checks. I have the your bank verify the check before you release the truck for sure.
 

WaltCMoto

Sponsoring Member
Joined
Jan 1, 2001
Messages
1,934
Likes
0
#9
Have him give you a cash deposit if he wants to buy it and take the next afternoon off and deliver the truck, and cash the check at his bank. Trust no one. Its worth the extra trip.
 
Joined
Dec 14, 2002
Messages
902
Likes
0
#10
Bill of Sale

This is what I use:
Sold to _______________________ , the following vehicle as described:

Vehicle: MOTORCYCLE……..
Make: SUZUKI……………..
Model: DR650……………….
Year: 1992…………………
License #13Y0571…………….
VIN: JS1SP44A4N2101210
Engine # P407103518…………
Price $ …………………….

This vehicle is being sold as is, without any implied warranty, promise, or condition. The buyer has assumed all risks as to the condition and operability of this vehicle and does not hold seller liable for any reason. All fees tendered in this sale are made in good faith and will not be revoked, canceled, renegotiated, or requested for refund.

X________________________________ ______________
SIGNATURE OF SELLER DATE



X________________________________ _______________
Buyer Date
 

mrmodine

Lifetime Sponsor
Joined
Jun 2, 2002
Messages
328
Likes
0
#11
Nikki:

You've got some great advice here...take it:
- Meet somewhere public...away from your home. If they buy the truck, they will get your address anyway but at least they don't have it otherwise.

- Two copies of the bill of sale (You will need a copy for you when you buy a new vehicle or you will have to pay taxes on the whole purchase price...keep a copy and you can pay taxes on the difference just like a tradein.

- Cover your bases in the bill of sale verbage. I have found some really good bill of sale examples on the web just by searching at google for "Bill of Sale Example" But always, be sure to make note of no warranty either stated or implied.

- Cash deposit and deliver the truck the next day...AT HIS BANK is the best place. Its unfortunate, but people really can get counterfeit cashiers checks or have a stop payment put on them. This is rare but it can happen. If you absolutely cannot do it at his bank...then at least verify funds on the check with the bank's manager.

- When you type the bill of sale, leave a spot to write in for the actual odometer reading and exact time of day when the transfer occurs. In some states, you could have liability if they get in a wreck or if they get some parking tickets or something. Along the same lines, cancel your insurance policy as close as you can to the actual sale time. Some insurance agents will do it for you but some will hold the policy in affect until midnight.

- Test drive: Only let the actual buyer drive the truck and not by themselves. Go with them. If there is a group of people, insist that you (And Red or a friend) go only with the buyer. Also, ask for proof of insurance before letting them drive or make sure your insurance covers any driver. Of course, make sure they are licensed too.

Your truck is high dollar...all these things will just give you some serious CYA. You can't be too cautious with an expensive vehicle.

Good Luck!
 
Last edited:

Grady

Lifetime Sponsor
Joined
Oct 19, 2000
Messages
503
Likes
9
#12
Not sure if you can, but your new truck is just days away from delivery, right? Check with your Dealer to see if you can let him do the sale of your old truck to the Buyer, for the agreed on price.

You get 3 benefits, first is that you let the Dealer worry about the validity of the guys check, and second you get to use your old truck as a trade-in, at least on paper, thereby saving $$$$ on taxes. Third, you let the Dealer do all the paperwork, you just sign your old vehicle over to the Dealer.

Dealers will do this if pressed, normally for a $100.00 fee. They call it an in/out.
 

Neil Wig

Lifetime Sponsor
Joined
Jun 22, 2000
Messages
347
Likes
0
#13
Grady, that's some of the best advise I've heard.
Let the dealership take the liability, even if it costs you $100 for an inspection or whatever.
 

whyzee

Never enough time !
Joined
Dec 24, 2001
Messages
2,282
Likes
0
#14
Nikki, here is the last bill of sale I used, good luck, great advice above:

Bill of Sale

To All Parties Involved:
This is a legal contract for the purchase of a 1999 CHEVROLET SILVERARO Z71 passenger pick-up truck, serial number: XXXXXXXXXXXXXXXXX. I, ______________(buyer), on this date 08/30/2003 agree to pay _____________ (seller), a sum of $______________ for the total purchase price of the referenced vehicle. No further payments are due. No additional parts and/or accessories are due after sale. Both parties agree the condition of sale is “As Is” and the seller assumes no risk in the future condition, operation, or maintenance of the truck, or in the buyers current or future driving skills or lack there of. Seller has made no additional verbal conditions or guarantees of sale.

By signing below both parties acknowledge they have read and agree to this document and its contents.



Printed name____________(Buyer)______________________



Printed name____________ (Seller)_____________________



Witnessed before me this day, 08/30/2003

by: Witness printed name ____________________


Witness________________________________________
 

LoriKTM

Super Power AssClown
Joined
Oct 4, 1999
Messages
2,220
Likes
4
Location
New Mexico
#15
How did it go, Nikki?  Get your truck sold ok?