Very OT - selling a car - what to accept for payment?

[firstbaby]

We're going to be selling our car ourselves in a couple of weeks to get the much needed mini van. Some of the recent Craig's list scam posts have be leary of what we should accept for payment - especially cashier's checks. The KBB on my car is close to $20k so I don't think we'll be looking at a cash transaction. Any recommendations for how to do this and not get scammed?

[o_mom]

I have usually done a cashier's check from a local bank and went with the buyer to deposit it. I did do a personal check once, but it was only $500, they didn't pick up the car until it had cleared and it was someone from work.

[tarabenet]

Do not accept a cashier's check. According to Clark Howard, the way to avoid the fake check scams is to have the buyer meet you at his/her bank with a personal check. With the buyer there, cash the check, sign the papers, etc. Then take the payment straight to your bank and deposit it. Be sure to mention you are putting it straight in your bank, too. You don't want a stranger knowing you are carrying that kind of cash. If you accept cash, do so in a public place and take it straight to the bank. Ideally, just have the buyer meet you at your bank.

Overkill? Probably. But the people who've been scammed or had both the item and the cash payment (and other possessions) stolen by a thief posing as a buyer all wish they'd been a little "overly cautious," I'm sure.

Good luck on the sale and congrats on the new minivan. I'm envious!