Hey guys im selling my car to a guy in Lacross, Wi. He is selling his 2005 honda civic si and buying my car but getting a loan from a bank call Altra. He gave me his loan agent Josh fax number (608)783-5650 to fax in my car title to verify it with the loan agent. Ive checked the fax number and its legit. He now want my car to be unpost on craigslist.com so that way i wont sell my car to buyers. But i feel uncomfortable faxing in my title. I need some advice here. Is it safe faxing in a copy of your car title with VOID or Non-Negociate on it to a bank? He said after i fax my car title in, the agent will agree or disagree with the loan. If agree, then he will get a check of $3000 with my name on the check. He will come down to MN and we will first go to the bank and make sure i get the cash before i sign the title over to him. He can also make a copy of his license ID, phone number and address for me. We've talked on the phone and he seems nice and serious about buying. I would prefer cash in hand without dealing with financing, loans etc. But since we're both hmong, it seems more like he's legit lol... But still need advice here please. Thanks You! He needs this title fax in before friday 12noon.
Yep, completely normal. They need the title to check that the car they are about to finance isn't some junk heap and for valuation of the loan they are giving the buyer. If he's requesting a car loan of 20,000 and the car he's buying is only worth 3,000, the bank isn't going to go for it. And yes, the title they get will be obviously a facsimile, and it will say void on it. Don't worry, it's more than likely not a scam of any sort.
