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 Online 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 Online users if you initiate the escrow service via links on the Old Car Online 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.
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 Online Customers
Escrow.com is offering the following discounted pricing to Old Car Online customers who click to their site from ours:
For Vehicle amount Discounted Escrow Fee for Old Car Online customers:
| For Vehicle Amount | Discounted Escrow Fee for OldCarOnline 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 Online 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 Online or the Natco Trading Company. Old Car Online 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.
