How does this scam work?

There are two possibilities--

In that case he understands you're not going to be willing to give him the title free and clear just holding a check he could stop payment for even if were good.

What you need to do is to wait and confirm the check has indeed cleared and can't be revoked before actually signing over the title.

The issue is, when do you know for sure that it's cleared? You don't. The classic scam run this way it to send you $3000 for something selling for $2000, with the rest to be sent by you to the shipping company. You deposit the check, think it's cleared, send the $879.00 to the "shipping company". Then two weeks later you find out that the bank says the check was no good, stolen, etc and they are reversing it. That is a classic scam run by as Oren would say, Nigerian princes from Africa. You'd think that in this instant connected world, checks would clear instantly or in 24 hours, but it's not the case. And they don't want the car or whatever the item is. Maybe that's what they are running here.

The funds will be available in about 48 hours, but it can take a week or two to get caught and then you are screwed. If he can write a check, he can cash a check and give you cash. Yeah, you'd be screwed.

Before delving into detailed analyses of all the possible variations of how a personal cheque can go wrong - simply ask why the fast and secure payment methods are not available ... .. just a few examples : : certified cheque : bank draft / cashiers cheque : direct electronic funds transfer You could also offer to deliver the car to his bank and do a cash deal right there ! Let us know how this buyer responds .. Also - has the buyer seen the car ? or is he buying it sight-unseen through emails .. another warning flag ! John T.

I pretty much never take a check, we would go to his bank, he could cash it and give me the money. If I really thought this was a straight up guy. I would still cash it at the bank it was drawn on. You will know right away if it is fake then. No way am I going to deposit a mystery check in my account. Some guy hands be a check from the First Bank of Fargo I am just going to tell him to come back when he has the money.

That is probably the best path. You walk out with the cash, you can get the title notarized for him right there (assuming that is the law in your state) and all is square. That was exactly how I sold my Jeep. I had to wait across the street in a restaurant for my wife to come get me but we had a wad of cash to enjoy a good meal on.

Cashier checks and certified checks can be counterfeit. Cash is safest but it might be counterfeit as well. Craigslist has suggestions online about how to avoid getting scammed.

trader_4 posted for all of us...

That would be too fast as the banks make money on the float.