Accepting cash for car sale

[mrtexas]

Had a very interesting experience tonight Friday night at 8pm trying selling an expensive car, not a Ford v8 BTW but still a collector's car. A guy drove 300 miles to my house and we agreed on a sales price of $87,500, about 20% more than I paid a year ago. He then wanted to hand me cash and take the title and the car right on the spot.

I told him I wasn't comfortable taking $87,500 cash (at night from someone I don't know). I said I'd gladly accept cash delivered to my credit union(counted and verified by them) during business hours.

I said I'd take a wire, or cash at the bank, or a certified check issued to me in person at his bank.

The guy brought an experienced mechanic with him and he inspected the car up on my lift and I learned a few things about the car I didn't know.

When I bought the car I wired 20% to the guy's bank account in Canada and 80% was transferred by escrow.com with each of us paying half the 1% fee. Fidelity was hesitant to wire 100% to a Canadian bank.

He called an hour later and said he'd try to organize a bank wire.

I like cash but how was I to verify the $87,500 cash was real on a Friday night at 8pm? I offered to drive the car the 300 miles and fly back.

I've never met someone who would carry that much cash about and banks report that large of a cash transaction to the IRS.

Didn't want to post somewhere the guy would see the discussion as the car is a 2002 Acura NSX. Got another guy looking tomorrow.

I don't know what to think about where all that cash came from.

What do you think?