When buying or selling a classic car the safety and security of both the seller and the purchaser are paramount. Classic cars have a high monetary value and enlisting the services of an escrow agent such as those provided by Payment Exchange to complete your transaction will remove any financial risks to both parties.
Escrow is a straightforward process that will make a classic car purchase the pleasurable and exciting experience that it deserves to be rather than one fraught with nerves, worry and anxiety.
If you have found the classic car that you wish to purchase and are unsure of the escrow process these simple steps will help you finalize your much-anticipated transaction: Contact Payment Exchange and arrange for the terms and conditions of the sale to be drawn up.
Terms include the price of the classic car, a description, the purchase price and delivery or despatch details. If a cooling off period has been agreed on, it will be written into the terms and conditions at this point. This will provide the purchaser with an opportunity to check the classic car over and ensure that it is in the condition the seller advised. Once the terms and conditions have been agreed upon by both parties it is time for you to transfer the funds to the classic car into a safe and secure online account set up by Payment Exchange.
Payment Exchange will confirm with the seller that the funds for the classic car have been received.
The vendor will fulfill their contractual obligations, which will include arranging delivery of the classic car.
Once you have received the car, if you have agreed to a cooling off period, the onus is on you (the purchaser) to check the classic car. Once you are happy that the car has been received as it was described, advise Payment Exchange that you accept the purchase.
The funds held in escrow for the classic car are released to the vendor, and the transaction is complete.
If a dispute or disagreement regarding the process arises at any point throughout the transaction, the escrow agent will resolve this with the best interests of both parties the main consideration and by referring to the original terms and conditions that were written up at the beginning of the escrow process. Payment Exchange provides support to both the purchaser and the seller when a sale of a classic car is in progress. They ensure that the finances of the purchaser are completely secure until they are entirely satisfied with the condition of the classic car and are happy to release the funds to the purchaser. Payment Exchange also protects the purchaser from time-wasters and provides them with a guarantee that if they deliver a product as described, the funds will be provided to them without question. Utilizing the services of Payment Exchange also eliminates the risk faced by both parties of carrying around large amounts of cash to pay for the classic car as all transactions are completed securely online.
Enlisting the support of an escrow agent will ensure that your classic car purchase runs safely and securely so all that is left for you to do is enjoy.Get started now