Finalizing the 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 that we recommend you take for a safe and successful transaction

1. Introduction

  • Once Car for Coin provides the contact information to each party, reach out and introduce yourself. Being polite and courteous always helps both sides
  • Buyer tells the seller if he prefers to pay by US Dollar or Crypto, and if buyer requires the escrow service.
  1. Documentation and Proof of Ownership
  • Seller provides proof of ownership by submitting a picture of the vehicle title, registration, and their driver’s license to the buyer.
  • Seller provides a signed bill of sale to the buyer, with the vehicle’s year, make, mode, mileage, color, vin number, and sales amount.
  • Optional: If there is an outstanding loan on the vehicle, the buyer and seller discuss how it will be paid off in a timely manner.
    • Seller pays off the vehicle as soon as possible, if they have the funds to do so, and provide payment proof to the buyer.
    • Seller provides lender’s payoff letter to buyer, if seller cannot pay off the vehicle before payment from buyer.
    • US Dollar buyers may pay off the outstanding balance directly to the lender, and then pay the remaining balance to the seller.
    • Crypto buyers are strongly encouraged to use our escrow service, which will pay of the lender’s payoff balance, but will not release the remaining payment to seller until the title is in hand and checked for validity. The fee for the escrow service is 1.5% to each party.
  1. Optional: Car for Coin Escrow and Conversion Service
  • Car for Coin strongly recommends using our title and payment escrow service. The fee for the escrow service is 1.5% to each party.
  • If Buyer wants to use the escrow service, they notify Car For Coin and the seller as soon as possible after the auction has ended.
  • Buyer sends USD or Crypto payment to Car for Coin, for the auction hammer price (winning bid) plus 1.5% escrow fee.
  • Optional: Car for Coin converts Crypto to USD at no additional cost to seller, or USD to Crypto!
  • Seller mails the title to Car for Coin. Car for Coin verifies the title and owner.
  • Car for Coin mails the title to buyer and sends payment to seller.
  1. Payment
  • Buyers should pay for the car in-full within 5 days of the auction close
  • If buyer is paying by US Dollar:
    • Once seller provides adequate proof of ownership, such as picture of their driver’s license, registration, and title
    • Buyer pays full amount by wire transfer or cashier’s check
    • For cashier’s checks, we recommend either going together to a local bank to get the check written, or waiting until the funds clear before signing over the car’s title.


  • Crypto buyer: but seller does NOT accept crypto payments:
    • Car for Coin will escrow the title and convert the crypto to USD.
    • Buyer converts his crypto to Tether (USDT) for full price of vehicle, plus 1.5% optional buyer escrow service fee.
    • Buyer sends test payment of $100 of Tether to crypto address CarForCoin.crypto, and the remaining amount once test payment is verified
    • Seller mails car title to Car for Coin for verification
    • Car for Coin releases full payment to seller by US Dollar wire transfer, minus 1.5% seller fee for the conversion of crypto and escrow service combination.
  • Crypto buyer, and seller DOES accept crypto payments:
    • Seller provides their Tether wallet id by e-mail to the buyer
    • Buyer sends a $100 test payment. Seller confirms receipt by e-mail.
    • 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 that it’s being picked up.
  1. Vehicle pickup
  • After the buyer pays the full amount to the seller, and the title is signed over to the buyer, arrangement for pickup is made. If the buyer is purchasing the vehicle remotely, the seller should mail the signed-over title and bill of sale to the buyer by expedited mail with a tracking number
    • Buyer purchases auto insurance for the vehicle to start on the day that it’s being picked up.
    • Buyer buys a one-way flight to a local airport of the seller, and picks up the vehicle and signed-over title.
    • Optional: Buyer arranges for a third party transport to pick up the vehicle. Title should not be given to the transporter, it should be mailed directly to the buyer