Sold my ‘35 to a person in Aistraila

[AnthonyG]

Any advice? I am creating a special account just for this transaction & will send him the account # & router #. Is there a better way? I won’t send title until funds are available in that account. He’s arranging & paying for shipping. Are there any other charges I have to think about? Duties or special import taxes on sellers end or is that all on buyers end?
Thx

[dean333]

Can’t you just do a wire transfer to an existing bank account?

[John Gibson]

Bank wire is very easy and according to my bank here in Georgia once the funds arrive that cannot be retrieved by the sender. Inexpensive, safe & fast.
John

[paul2748]

Always use a special account set up for that transaction. This way the buyer has no info on your regular accounts.

Originally Posted by dean333

Can’t you just do a wire transfer to an existing bank account?

[trulyvintage]

Same subject on a different
car forum I belong to ….

My Advice:





Jim

[Lanny]

Sponsored Links (Register now to hide all advertisements)

Paul 2748 Always use a special account set up for that transaction.
This way the buyer has no info on your regular accounts.
================================================

Quote:
Originally Posted by dean333 View Post
Can’t you just do a wire transfer to an existing bank account?
===============================================


Use the information given by Paul 2748





.

[Krylon32]

I've sold 4 cars over seas. 2 in Japan and 2 in Europe. 3 paid by wire transfer into a special account I have just for wire transfers. The 4th sent an armed courier with cash. All 4 of the buyers or their agents handled all the transportation from my shop. They all had an agent in this country to whom I overnight ed the titles after my bank confirmed receipt of the funds. Never had a problem.

[trulyvintage]

There is no need to set up a
separate bank account for
folks to send or receive a
bank wire transfer.

Unless you provide your
PIN or ID required to
electronically access
your account - the other
party cannot access your
funds.

Vehicles are sold all over
the world each day and
the majority of them are
paid for by bank wire transfer.

I have been transporting vehicles
since 2006 and no Buyer
or Seller has ever been a
victim of fraud by
bank wire transfer.


Jim

[AnthonyG]

So sounds like wiring is the way to go. Do I arrange with my bank or or what?

[busmania]

I used to sell VW buses to a guy in Europe and have done other worldly sales. Like others have said create a completely separate bank account and ideally add a completely separate bank. Separate bank maybe extreme but for my own piece of mind I would always set up a separate account. All they (buyer) need is an account number and routing info. They go to their bank and set it up. Wait till it clears and you’re good to go.

[trulyvintage]

Originally Posted by AnthonyG

So sounds like wiring is the way to go. Do I arrange with my bank or or what?

If you have a smaller bank
where they actually personally
know you - go in and consult
with someone familiar with
the bank wire transfer process.


Jim

[cas3]

I sold a 29 packard to poland once. Bank told me, set up a new account, and once the money is there move to my other account. But!!! my bank also told me the bank on the other end can take the money back if they think some fraudulent banking has occured.
Not my opinion, this is what my bank told me. Interesting also is the banker lady I was dealing with had just inherited about a dozen high dollar sports cars from her father, and many were sold over seas.

[deuce lover]

Originally Posted by AnthonyG

So sounds like wiring is the way to go. Do I arrange with my bank or or what?

CONGRADULATIONS !!

Go to your bank and get ALL the information required then email that to the buyer.His bank will do the rest.
Does the VIN number stamped on the frame match the title?

Just to ad: A notorized bill of sale.Make copies and keep one.
The original title (make copiy that you keep )goes with the shipper as well as a set of keys

Send copies of the biil of sale,title and extra set of keys to buyer. One experience I had was that the keys were misplaced and not shipped with the car. What a mess as the car was to be driven once arrived and released by authorities.Had to hot wire the car.

[AnthonyG]

Thx for all the input! I spoke to my bank this morning & they indicated because it’s an international transaction it has to be wired! Has anyone who’s done this discovered that or knew it?

[deuce lover]

Yes I have.A 36 5W from Hawaii to Japan via Long Beach CA, a 35 slantback from CA to Sweden,53 victoria from OH to France and a 33 Tudor from PA to France. That's why I offered the info in my post

[Kube]

Originally Posted by AnthonyG

So sounds like wiring is the way to go. Do I arrange with my bank or or what?

I too utilize a direct wire transfer to an account set for this purpose only.
Years ago, I don't believe a separate account was necessary.
Now? Well, anyone who insists it isn't necessary, I'd ask them to guarantee they would make up any loss that your account won't be hacked for a year or so.

Some banks (mine) offer a "house account" that the money is transferred into and promptly transferred out of their account and into yours.

Talking on the phone as a critearia? These days? Laughable to think you will somehow know if the person is legitimate or not.

[Kube]

Originally Posted by deuce lover

CONGRADULATIONS !!

Go to your bank and get ALL the information required then email that to the buyer.His bank will do the rest.
Does the VIN number stamped on the frame match the title?

Just to ad: A notorized bill of sale.Make copies and keep one.
The original title (make copiy that you keep )goes with the shipper as well as a set of keys

Send copies of the biil of sale,title and extra set of keys to buyer. One experience I had was that the keys were misplaced and not shipped with the car. What a mess as the car was to be driven once arrived and released by authorities.Had to hot wire the car.

This is all super good advice.

[AnthonyG]

Thx Deuce! Two days on The Hamb!

[Kube]

Originally Posted by AnthonyG

Thx Deuce! Two days on The Hamb!

You will be okay with this transaction. Speak with your banker as they will give you very current information / safety protocol advice.

[JayChicago]

Just giving out your bank account number does not give someone the ability to hack into your account. Every paper check has the routing and account number printed on the check for all to see.