WHY USE AN ESCROW SERVICE?
When Buyers and Sellers do not know each other, they need a third-party they can trust to reduce the potential risk of fraud and deception. Old Car Trader encourages you to use Escrow.com as the "third party" to your transaction. Escrow.com is a licensed escrow service company, regulated by governmental agencies, that acts as a trusted third party by collecting, holding and disbursing funds according to Buyer and Seller instructions.
Escrow.com provides protection for both Buyer and Seller. Buyers receive and inspect the merchandise before the Seller is paid. Sellers receive their money if the Buyer accepts the merchandise.
Furthermore, Escrow.com's minimal fees are discounted even more for Old Car Trader users if you initiate the escrow service via links on the Old Car Trader website.
How it Works (as stated on Escrow.com)
1. Buyer and Seller Agree to Terms
Both parties agree to terms of the transaction, which includes a description of the merchandise, sale price, number of days for the Buyer's inspection, and any shipping information.
2. Buyer Pays Escrow.com
The Buyer submits a payment, selecting check, money order, wire transfer, or credit card online. Escrow.com verifies the payment. Processing time varies by payment method.
3. Seller Ships Merchandise
Upon payment verification, the Seller is authorized to ship merchandise and submit tracking information. Escrow.com verifies that the Buyer receives the shipment.
4. Buyer Accepts the Merchandise
The Buyer has a set number of days for an inspection and the option to accept or reject the merchandise.
5. Escrow.com Pays the Seller
Escrow.com pays the Seller by check or wire transfer. The transaction is complete.
What are the benefits?
Escrow.com, an accredited escrow company, acts as a secure third party to protect the Buyer and Seller.
How Buyers are protected:
Escrow.com tracks the shipped merchandise and verifies it was delivered.
The Seller isn't paid until the Buyer accepts the merchandise, or the inspection period expires.
How Sellers are protected:
Escrow.com confirms when the Buyer receives merchandise.
The Seller is authorized to ship only after Escrow.com verifies good funds.
Reduced Pricing Structure for Old Car Trader Customers
Escrow.com is offering the following discounted pricing to Old Car Trader customers who click to their site from ours:
For Vehicle amount Discounted Escrow Fee for Old Car Trader customers:
| For Vehicle Amount |
Discounted Escrow Fee for OldCarTrader customers: |
| up to $7,500 |
$100 |
| $7,500 to $12,500 |
$115 |
| $12,501 to $17,500 |
$130 |
| $17,501 to $25000 |
$150 |
| $25,001 to $50,000 |
$175 |
| $50,001 to $75,000 |
$200 |
| $75,001 to $100,000 |
$300 |
| $100,001 to $200,000 |
$500 |
| $200,001 to $500,000 |
$1,000 |
| over $500,000 |
Call |
Compare that to the normal Escrow.com fees (as advertised on Escrow.com on Mar 21, 2006):
For Vehicle amount Normal Escrow Fee:
| For Vehicle Amount |
Non-Old Car Trader
Escrow.com Pricing |
| up to $7,500 |
$125 |
| $7,500.01 to $15,000 |
$170 |
| $15,000.01 to $30,000 |
$200 |
| $30,000.01 to $50,000 |
$275 |
| over $50,000 |
0.6% |
Note: Escrow.com is a third-party web site. It is not owned or operated by Old Car Trader or the Natco Trading Company.
Old Car Trader and the Natco Trading Company, assumes no liability for business conducted through the third-party site.
Upon visiting Escrow.com, read and make sure you understand Escrow.com's policies as presented on Escrow.com's web site.
