Opinions wanted- car selling scenario

[NOPANTS68]

Guys, I am entertaining an offer for my red '67 and wanted some opinions. The buyer lives in Hawaii and is going to fly over to drive it and play cars for a day, then simply fly home. The car is solid, so I'm not worried about him falling in love with it.

My concerns fall into the process of the sale. I have sold a couple cars to overseas buyers, but for prices in the $30k range. This sale will be triple that price and I don't have any experience with moving that much cash without gaining Obama's attention. I think the federal cap for deposits is $12k at a bank so that'd be a pain. A check obviously won't work either. Cash is king, but might be tough to fly with without gaining attention and an anal probing. What do you guys think? I'm trying to avoid a conversation where the IRS gets involved and I pay some ridiculous taxes. Thoughts? Experiences with this sort of thing? Thanks in advance, Dave

[camcojb]

Originally Posted by NOPANTS68

Guys, I am entertaining an offer for my red '67 and wanted some opinions. The buyer lives in Hawaii and is going to fly over to drive it and play cars for a day, then simply fly home. The car is solid, so I'm not worried about him falling in love with it.

My concerns fall into the process of the sale. I have sold a couple cars to overseas buyers, but for prices in the $30k range. This sale will be triple that price and I don't have any experience with moving that much cash without gaining Obama's attention. I think the federal cap for deposits is $12k at a bank so that'd be a pain. A check obviously won't work either. Cash is king, but might be tough to fly with without gaining attention and an anal probing. What do you guys think? I'm trying to avoid a conversation where the IRS gets involved and I pay some ridiculous taxes. Thoughts? Experiences with this sort of thing? Thanks in advance, Dave

First off, nice meeting you Dave, and beautiful car! Keep the pics, we still want to do a feature...

I always use a wire transfer from their bank to yours; very safe, he can't steal any money from you, etc. and there's no cash in a bag for you to deal with. Bypasses the large cash deposit issues. and can't bounce.

[NOPANTS68]

Ah makes sense. Brent just called me and basically said the same thing. I didn't know that transfers weren't subject to IRS scope. Thanks Jody! Was great meeting you as well!

[camcojb]

Originally Posted by NOPANTS68

Ah makes sense. Brent just called me and basically said the same thing. I didn't know that transfers weren't subject to IRS scope. Thanks Jody! Was great meeting you as well!

Yeah, wire transfers for larger transactions are fine; they don't like large amounts of cash, might be from something illegal in their view.

[dirtshark]

Dave,

I do this for my business all day long, many LARGE overseas transactions and the only way to do this safely which has been said is wire transfer!!! I would not do it any other way. Give me a call if you want to discuss.

Now, can I cry that you are possibly going to sell the Chevelle. What a great job you did on it top to bottom, you should be proud my friend.

[1transam]

Can we get lots of pictures before the sell? LOL


Congrats your setting the bar high for 67 Chevelle's.......

[NOPANTS68]

Aw you guys are the best. lol

Here's a couple pics of the car all wrapped up. Car was sure fun to drive up and down the strip.

[Vince@Meanstreets]

love the build, sorry to see it go.