Finalizing The Sale

After the Auction: Completing Your Sale

After a car is sold on our auction, the buyer and seller are given each other’s contact information so they can complete the sale directly. These are the steps we recommend for a safe and successful transaction.

1. Introduction

• Once Kendall FL Auto provides the contact information to each party, reach out and introduce yourself. Being polite and courteous always helps both sides.
• The buyer tells the seller whether they prefer to pay in US Dollars or crypto, and whether they require the escrow service.

2. Documentation and Proof of Ownership

• The seller provides proof of ownership by sending the buyer a picture of the vehicle title, registration, and their driver’s license.
• The seller provides the buyer with a signed bill of sale including the vehicle’s year, make, model, mileage, color, VIN, and sale amount.

OptionalOutstanding Loan on the Vehicle

• The buyer and seller discuss how the loan will be paid off in a timely manner.
• If the seller has the funds, they pay off the vehicle as soon as possible and provide proof of payment to the buyer.
• If the seller cannot pay off the vehicle before receiving payment from the buyer, the seller provides the lender’s payoff letter to the buyer.
• US Dollar buyers may pay the outstanding balance directly to the lender, then pay the remaining balance to the seller.
• Crypto buyers are strongly encouraged to use our escrow service, which pays off the lender’s payoff balance but does not release the remaining payment to the seller until the title is in hand and verified. The escrow fee is 1.5% to each party.

3. OptionalKendall FL Auto Escrow and Conversion Service

Kendall FL Auto strongly recommends using our title and payment escrow service. The fee is 1.5% to each party.

1. If the buyer wants to use the escrow service, they notify Kendall FL Auto and the seller as soon as possible after the auction ends.
2. The buyer sends a USD or crypto payment to Kendall FL Auto for the auction hammer price (winning bid) plus the 1.5% escrow fee.
3. OptionalKendall FL Auto converts crypto to USD at no additional cost to the seller, or USD to crypto.
4. The seller mails the title to Kendall FL Auto. Kendall FL Auto verifies the title and owner.
5. Kendall FL Auto mails the title to the buyer and sends payment to the seller.

4. Payment

Buyers should pay for the car in full within 5 days of the auction close.

Paying in US Dollars

1. The seller provides adequate proof of ownership, such as pictures of their driver’s license, registration, and title.
2. The buyer pays the full amount by wire transfer or cashier’s check.

For cashier’s checks, we recommend either going together to a local bank to have the check written, or waiting until the funds clear before signing over the title.

Crypto buyer — seller does not accept crypto

Car for Coin will escrow the title and convert the crypto to USD.

1. The buyer converts their crypto to Tether (USDT) for the full price of the vehicle, plus the optional 1.5% buyer escrow fee.
2. The buyer sends a $100 test payment in Tether to CarForCoin.crypto, then sends the remaining amount once the test payment is verified.
3. The seller mails the car title to Car for Coin for verification.
4. Car for Coin releases full payment to the seller by US Dollar wire transfer, minus the 1.5% seller fee for the combined conversion and escrow service.

Crypto buyer — seller does accept crypto

1. The seller emails their Tether wallet address to the buyer.
2. The buyer sends a $100 test payment. The seller confirms receipt by email.

For security reasons, Car for Coin strongly recommends sending the remaining balance only after verifying the title and seeing the vehicle in person, on the day it is picked up.

5. Vehicle Pickup

After the buyer pays the full amount and the title is signed over, pickup is arranged. If the buyer is purchasing remotely, the seller should mail the signed-over title and bill of sale to the buyer by expedited mail with a tracking number.

• The buyer purchases auto insurance for the vehicle, effective on the day of pickup.
• The buyer books a one-way flight to an airport near the seller and picks up the vehicle and signed-over title.
• OptionalThe buyer arranges third-party transport to pick up the vehicle. The title should not be given to the transporter — it should be mailed directly to the buyer.