Pat Goss' Tips & Expert Advice

Escrow Fees

CARCHEX.com customers can utilize an online escrow service through Escrow.com when buying or selling a car. Escrow.com offers professional escrow services which can protect the individuals involved in the sale of a car. Utilizing this service will result in some fees, but the potential to avoid huge hassles in the transaction makes the price worth it. If you use the escrow services through Escrow.com you will be charged a fee based on a percentage of the purchase price. For example, a car purchased for $25,000 will result in an escrow fee of approximately $215, with a possible additional charge for the disbursement of the funds at the conclusion of the transaction. The cost of the disbursement depends upon the method, whether it's via check, wire transfer, or ACH credit. When you compare the potential monetary loss involved when conducting a financial transaction with a stranger, however, the small fees associated with using a professional escrow service are certainly worth it