selling car advice wanted

smithson55

I am considering selling my car privately. How best should I do this to ensure I don't get caught out by bouncing cheque, etc?

ecosse306

Personally, I wouldn't accept a cheque for anything expensive. The next best option would be a bankers draft, which is effectively a cheque written by the bank, but can only be drawn up if there is enough money in the account.

Alternatively, a bank transfer directly into your bank would be an idea, or cash (depending on how much you think you will get).

The rule is the same no matter which option you go for, never ever let the car go until the cash has cleared in your account and the bank has confirmed that the transaction cannot be cancelled from the other end.

I've bought and sold a few cars privately with no problems, but its always best to be on the safe side.

maninthestreet

...and don't fall for the companies that call you up having seen your car advert, claiming to have buyers in your area who are interested in 'your type of car', and if you pay them £99 they will release your details to them.....

mrscb

Hard cash......:D

Red_Cat

If you take a bankers draft or even cash, bank it first before handing over the keys. This does mean doing the deal during banking hours, but will mean you won't be sorry.

CandleFan

I also don't think its a good idea to do any kind of money transfer that requires you giving anyone your account details.

mchale

CandleFan wrote: »

I also don't think its a good idea to do any kind of money transfer that requires you giving anyone your account details.

Why ??????