how to sell car & get payment?

Addicted2Chocolate

we are selling our car and i dont know which is safest way for us to receive payment...cash or bankers draft? if cash how can we check notes arent dodgy? and if bankers draft how can we check it is a genuine bankers drfat and not fake?
any tips appreciated. i think the buyer is genuine as we have their landline telephone number. if they buy shoudl we ask for proof of id e.g. drivers licence?

rrockettman

Hi A2C.
Whenever I've sold a car I've asked to be paid in used £20 notes.
£50 are worth forging, £20 aren't. Most buyers like to negotiate a discount for cash anyway.
If the buyer wants to pay by check, make sure the check clears into your account before releasing the car and documents.
A buyer should have their driving licence with them so you can enter their details on the registration document before sending it off to the DVLA.
Good luck with your sale.

Addicted2Chocolate

thanks! just spotted that we need the buyers driving licence number on the V5 document.

1jim

you could drive the guy to the bank or post office, he pays you in cash, you payit in to the bank/po, if they accept the money you give him the car keys and ask him nicely to drive you home,,, has worked every time we have done it
good luck
jim

Paul_the_Painter

£50 are worth forging, £20 aren't

Nope its the other way around. Up until recently I worked in retail and all of the notes that were forged were £20's and £10's. People check £50's they don't check £20's so the forgers make the notes people don't check. do as 1jim suggested and do the deal either in cash at your bank, or go with him to his bank and collect cash or Bankers Draft. DO NOT accept a bankers draft unless you can bank it and not hand over the keys for a week for the thing to clear.

highguyuk

As far as I was aware, the Driving Licence Number on the V5 for the new buyer is not compulsory. It wasn't 3/4 months ago when we last purchased a 2nd hand car.