Venmo won’t cut it for most car transactions—unless you want to do the deal over days or weeks with multiple fund transfers. With a limit of $4,999, Venmo is too lightweight, unless you’re selling an old beater.
We’ll show you a better way to get paid for your car—safely and quickly.
If you’ve got an old junker that’s priced under Venmo’s $4,999.99 weekly transfer limit, here’s how to proceed:
Beyond its low transaction limits, Venmo has several other drawbacks that make it less than ideal for car sales:
Venmo doesn’t verify the identity of its users beyond basic account creation. As a seller, you could be dealing with a buyer using a fake name or stolen identity. For high-value transactions, this lack of verification leaves you vulnerable to fraud.
Venmo provides no way to create or sign a bill of sale. Without this document, you have no proof of the agreed-upon terms of sale. If the buyer later claims the car wasn’t as described or there are issues after the sale, you’ll lack the documentation needed to protect yourself in a dispute.
Venmo has no features tailored to vehicle transactions. You can’t record the odometer reading, transfer the title, or handle other car-specific details within the app. This leaves you to manage these crucial aspects of the car-selling process on your own.
Venmo transactions are based on usernames or phone numbers. If the buyer makes a typo or you provide incorrect information, the buyer’s money could go to someone else. Not good.
If something goes wrong with your car sale, Venmo’s customer support isn’t equipped to handle the complexities of high-value vehicle transactions. You’ll be left to resolve any issues on your own, which could be problematic if the buyer disputes the transaction.
DealNow gives you Venmo-like convenience, with no transaction limits. In an intuitive workflow that guides you through every stage of the transaction.
Ready to sell your car?
DealNow is the safest payment method when selling a car. Unlike physical cash or checks, DealNow does instant, verified transfers of any amount directly between you and the buyer.
DealNow’s platform ensures secure transactions by:
With DealNow, you get the immediacy of cash with Venmo-like mobile simplicity. Funds are held in FDIC-insured accounts with easy offboarding to your regular bank.
Personal checks are the least secure payment method for sellers, especially in high-value transactions such as car sales. Here’s why:
PayPal is not ideal for high-value sales.
DealNow facilitates high-dollar transactions without percentage-based fees.
To maximize your car’s value, go for a private sale rather than a dealership trade-in. Here’s why private sales give better results:
While private sales require more effort, they typically net 15–25% more than trade-ins. To get the best return, research your car’s market value, craft an appealing listing, and prepare for meetings with potential buyers.
DealNow is the easiest way to close your own vehicle deal, anytime. It’s the safe and simple way to avoid fraud, sign documents, and instantly transact, all in one app.
