Looking to get a new or used car online but are worried about how secure your payment will be? Do you have a vehicle you are interested in selling but want to make sure you will get your money in full, and in a timely manner? Paying through Escrow.com makes purchasing or selling vehicles at Autotrader.com more secure than ever.
Autotrader.com is an online platform for finding and buying vehicles online. At Autotrader.com, auto enthusiasts can find a variety of merchandise, from SUVs to coupes and even hybrid/electric vehicles. You can search for a vehicle by using model, make, style and even optional features such as keyless entry or music system. If you are looking for a vehicle that's a bit more luxurious, you can specify features such as heated seats or a sunroof as part of your search terms.
Are you uncertain about choosing from the many results of your search and really want to make sure you'll get what you're looking for? You'll find reviews from other customers that may be of some help with making your decision. The platform even features a section where you can apply for a loan, if needed!
Still unsure about using Escrow.com to make payments? Here's a breakdown of how it works:
- Seller and buyer agree to the terms – When a seller creates a transaction, they click through to Escrow.com directly from the AutoTrader site. The seller must register on the Escrow.com site and fill in all required information for the transaction, including the price, year, model, make and VIN, as well as who will pay the escrow fee. The buyer is then invited to register on Escrow.com and agree to the terms of sale. Once they do, they are prompted to make their payment.
- Buyer deposits the money into Escrow.com – The buyer requests that their bank send funds to Escrow.com via wire transfer. The payment must be verified before the title insurance is ordered and sent to the buyer. At this point the seller can be notified to confirm and collect title and/or lien payoff information.
- Seller ships or delivers the vehicle – After payment is verified, the seller is authorized to deliver or ship the vehicle. Escrow.com will verify that the buyer receives the vehicle.
- Inspection & acceptance/rejection – The buyer has a specific number of days to inspect the vehicle and decide to accept it or not. Once they do the needful and accept, the money is released to the seller automatically. Should the buyer fail to make a decision within the set time period, Escrow.com releases the funds to the seller, as long as the buyer's receipt is verified. They may send a 24-hour notice if the Inspection Period begins and ends without participation from the buyer.
- Seller is paid – If a lien holder is involved, Escrow.com pays them. Any balance will be sent to the seller by ACH, check or wire transfer. If the title was held in Escrow, this will be sent via courier to the buyer.
An impeccable reputation, great support and transparency on all dealings – all of these are compelling reasons to use Escrow.com for any online transactions.
Visit Escrow.com today to learn more about how they can help secure your transaction whether you are buying or selling a vehicle at AutoTrader.com.