Overhaulin'

If you sell a car online, how much cash will someone usually be able to pay in one lump sum?

What if I had a car that's about 5 years old, and I want a lump cash sum of say, $11,000? What do you think is the largest reasonable amount to expect people to pay in a lump sum, without waiting for them to find a bank to give them a loan? I would like to hear people speak from experience of selling cars for more than 7 or 8 thousand.

Public Comments

1. I buy and sell cars alot. I think 7-10k is the top end for people paying in cash
2. I sell cars on ebay all the time and I require a Non refundable $500 deposit through paypal with in 48 hours of auction close. I then require payment in full with in 7 days. If you request much more of a deposit than that the paypal fee will get huge. If you are trying to have them make payments to you after they have received the vehicle that is a very bad idea unless you are a dealer or a bank because you do not have the authority to hold a lien on the car make them pay. Don't let them take the car until you have been paid in full and all funds have cleared your bank
3. All of it. If they aren't prepared to purchase the car when they come to test drive it then let them walk home. I wouldn't give a buyer more than 24 hours to come up with 100% of the cash. After that, all deals are off the table. You are aware that any cash transaction or bank deposit over $10,000 in cash MUST be reported to the IRS.
4. like Dave87gn, I think 7-8 grand is max, but becareful and bargain good. Your car may not be worth $11000.00. I got rid of my 200000 mile Nissan Maxima for only $2000.00. So watch out for hard bargainers!
5. No private individual would expect to take payments for a car they sell for any amount. The buyer must have all the funds to pay for the item immediately. I have sold cars for over 10K and had no problem.