Selling a car to International buyers?

I made an agreement with a couple that is coming to buy my Miata in a few weeks. They live in Canada and I'm trying to figure out the safest way to make sure I get legitimate funds for the car before they drive off with it. Talking to them on the phone it doesn't appear like they have any of the same banks as we do here in the US. I suppose they could bring cash, are there any other guaranteed monetary instruments that would not require a hold?

IIRC even international cashiers checks may have a short hold put on them. What about Travlers checks, are those good at cash where I can go to my bank and just deposit them like cash? Any advice is appreciated.

I'd insist on US dollars - green currency. I wouldn't trust a money order, cashiers check or anything else. (Unless they are willing to wait for a cashiers check to clear your bank)

I'm with Sammm, Cash at delivery would be the preferred method.

I'd call your bank and ask about travelers checks.

I think any other method would have some sort of a hold associated with it.

The only other thing I can think of is a bank wire transfer. They should be able to speak with their bank and setup a wire transfer to your account. The transfer would only occur once they were here and called their bank. I believe the transfers only take a few hours to complete. Check with your bank to be sure.

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Originally Posted by Dave04

The only other thing I can think of is a bank wire transfer. They should be able to speak with their bank and setup a wire transfer to your account. The transfer would only occur once they were here and called their bank. I believe the transfers only take a few hours to complete. Check with your bank to be sure.

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+1

I only sell to buyers from Nigeria. They tend to provide me with a healthy cash incentive to sell to them. Must be because most of them are royalty...

I assume you sold the car for less than $5K. I think it is acceptable to require cash for any car purshase under $5K. I would expect to pay cash for any car that I purchase under $5K, unless it is a dealership.

Thanks guys I'll just have him bring cash and have the bank verify they are real bills before I sign over the title and let them drive off. I sold it for my asking price.

I paid cash for my last vehicle too. I don't think it's unreasonable.

I just sold the Z06 via wire transfer. I setup a separate savings account and had the finds delivered to it. Once the funds cleared I moved them to a different fund.