Selling a car overseas?

[Chase392]

Hey guys,

 

     I need some advice, I'm selling two projects to finance a new one. Much to my surprise most of the interest I am getting is from overseas. I've been in the car hobby long enough to be wary of scams but several people have contacted me truly seem legit... much more so than the weirdos on Craiglist.

 

How should I except payment? This is what has me the most worried... I read a story online about a bank transfer being reversed months after the car was sold and shipped? 

 

What should be expected on my end when dealing with a shipper? Should they just show and load the car? Paperwork?

 

Any advise is much appreciated.

 

Thanks

[Guest]

I have sold several of my cars overseas. Never had a problem. Onus is on the buyer to have the cash in my hand before delivery. Sometimes they use a broker to handle the transaction. Sometimes they have the transporter handle it directly. Either way is good. Just be clear, no other form of payment is acceptable, no bank transfer, no cashier's check, no money order,  etc. Someone has to show up at your place with cash. Safest and easiest way.

[Terry Wiegand]

I would think that you should request an International Money Order payable in US funds.  Cash that and put the money in your safe deposit box.  When the day comes that the car is picked up is the day that you will sign the title in the presence of your banker (read that as witness) give them the paperwork and make sure that the transporter has full access to the vehicle in question and you my friend are done with your part of the deal.  There are all kinds of old sayings about deals like this.  The first thing that comes to mind is - Cash Is King.

The other is Cash Talks - BS Walks. People make such a big deal out of stuff like this.  I have sold a lot of parts to guys across the pond over the years and have never had so much as a hint of a problem.  Granted, I have never sold a complete vehicle, however, if I was going to, I would use the same methods as I have used in the past and I would not have to be worrying about any problems.  Why make things difficult.  You wanna buy my car - you lay the cash in my hot little hands.  You now own a car.

 

Terry Wiegand

South Hutchinson, Kansas

[Guest]

I have sold two to Europe. One was a $35K car and the other a $65K car, not particularly expensive. Both were paid via wire transfers. In both cases, an auto transport company picked the car up here in my town to take to the port. All shipping arrangements were made by the buyers. I didn't have to do anything except keep the lines of communication open via email. The transport companies were instructed to have the actual driver call me on my cell phone at least 24 hrs prior to their arrival, and again two hours out.  Both deals went smoothly. I think I would rather be the seller in this situation. The money was in my account via wire transfer for about two weeks before their transporter showed up.

[cahartley]

Sending something over the pond is quite painless.

Get the green in your hands first.

Have the buyer arrange for shipping after which point all you will need to do is either drive the car onto their trailer or have them winch it on.

Retain a Bill of Sale for the hauler clearly stating who owns the car and what they paid for it or customs will have a fit and make things VERY difficult for the buyer.

Depending on what country the buyer or shipper SHOULD advise as to which information to state.

Do NOT send the title with the hauler.......mail that directly to the buyer.

I have shipped overseas 4 times and it was nearly as easy as selling to a neighbor.

[1937hd45]

Sold a rolling project to a fellow in Italy years ago. Wire transfer and he arranged for the roll off pick up and all shipping. Easy deal, truck arrived 15 minutes early, winched it on and it was gone. Bob

[Matt Harwood]

Wire transfers cannot be recalled, certainly not months later. Once the money leaves their account and lands in yours, it's yours to keep forever. Nothing anyone can do to reach back in and grab it. It's still the safest way to move money long-distance. You could try escrow and bankers and all kinds of safety provisions like Terry outlines, but I bet your buyer will get fed up with that nonsense before you do. He just wants to buy a car.

 

Let him wire you the money. Let him set up the shipping. Ask that he instruct the shipping company to call you to set up the pick-up time and place. He'll do all that. Make sure you have the money before the car leaves and it'll all go pretty smoothly. Easy!

[Restorer32]

Here's a cautionary tale. Friend of mine sold a '28 Cadillac to a buyer in Europe. Buyer asked my friend to "fudge" the bill of sale a bit to lower the buyers import tax. Almost a year later friend came home to find a business card from US Customs asking him to contact them immediately. He asked my advice. I suggested he tell the absolute truth, which he did. Turned out the buyer had been under investigation for some unknown transgression and US Customs was asked by French Customs to interview my friend re the transaction. We never did figure our exactly what was going on though I doubt it was a simple case of attempted tax evasion. Be careful out there.

[Restorer32]

And by "friend" I do mean friend. It wasn't me.

[Matt Harwood]

1 hour ago, Restorer32 said:

Here's a cautionary tale. Friend of mine sold a '28 Cadillac to a buyer in Europe. Buyer asked my friend to "fudge" the bill of sale a bit to lower the buyers import tax. Almost a year later friend came home to find a business card from US Customs asking him to contact them immediately. He asked my advice. I suggested he tell the absolute truth, which he did. Turned out the buyer had been under investigation for some unknown transgression and US Customs was asked by French Customs to interview my friend re the transaction. We never did figure our exactly what was going on though I doubt it was a simple case of attempted tax evasion. Be careful out there.

 

100% this. Everyone asks me to be an accomplice to their tax evasion crimes (and when I put it like that, they usually change their minds). Why take a risk because someone else doesn't feel like paying their taxes? I tell everyone that they can do whatever they want with their accounting, but if anyone asks me, I'm going to tell them the truth and show them my paperwork.

 

You will have to supply a bill of sale showing PAID IN FULL when you export the car, and the title and bill of sale have to be sent to the port with the car (or mailed there). Don't send it to the owner, he'll just have to send it back. I usually don't send paperwork with a car if I can avoid it, but when going overseas, there's no choice--car and paper have to be at the port at the same time.

 

This isn't a big deal. Once the money is in your account, tell him to book shipping. Ask them to let you know exactly what paperwork they will need for export, and provide it, and it's usually just the title and bill of sale. Don't let it leave on a check (be alert for the famous "I'll have my US client send you the money he owes me, and you refund the difference after keeping some extra for shipping" scam), but if the money is in your account, it's OK to let the car leave--nobody can take it back unless you used Paypal, which is not recommended for large transactions.

 

Don't be afraid of this. Think of the risk the buyer is taking, sending money around the world and hoping that someday a car shows up that vaguely resembles what was advertised. He's taking more of a risk than you are...

[mercer09]

Posted 16 hours ago · Report post

I have sold two to Europe. One was a $35K car and the other a $65K car, not particularly expensive. Both were paid via wire transfers. In both cases, an auto transport company picked the car up here in my town to take to the port. All shipping arrangements were made by the buyers. I didn't have to do anything except keep the lines of communication open via email. The transport companies were instructed to have the actual driver call me on my cell phone at least 24 hrs prior to their arrival, and again two hours out.  Both deals went smoothly. I think I would rather be the seller in this situation. The money was in my account via wire transfer for about two weeks before their transporter showed up.

 

times 2!!!!!!!!!!!!!!!!!!!!!!!!!!

[mercer09]

"Here's a cautionary tale. Friend of mine sold a '28 Cadillac to a buyer in Europe. Buyer asked my friend to "fudge" the bill of sale a bit to lower the buyers import tax. Almost a year later friend came home to find a business card from US Customs asking him to contact them immediately. He asked my advice. I suggested he tell the absolute truth, which he did. Turned out the buyer had been under investigation for some unknown transgression and US Customs was asked by French Customs to interview my friend re the transaction. We never did figure our exactly what was going on though I doubt it was a simple case of attempted tax evasion. Be careful out there".

 

exact same thing happened to me- I prodded the customs guy and what ended up happening, is that the buyer loaded the gas tank of my 450sl with cocaine, and shipped it. dogs got a whiff and nobody picked the car up over in Cheq Republic. someone must have been tipped off on the other side.....

I was paid and it was of no consequence to me.

[60FlatTop]

If you are old enough to monkey around with old cars you should be able to recognize good guys and bad guys. Most foreign car guys are great to deal with. There are rules to play by. Follow the rules.

Over the years I have learned that the person who is really going to screw me is myself. The others can't even come close to what I can do on my own.

Bernie