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Selling a car - best way to deal with payment?
slscarborough
Posts: 851 Forumite
in Motoring
Just after some advice.
We are in process of selling our car - guy is coming to look at it tomorrow but sounds very keen and telephoned yesterday to say he has already sorted out insurance.
I think he intends to pay cash. Is that a good idea? OH is planning to bring his ultra violet light thingy home from work and plans on buying one of those checker pens. Do you think this will be ok? What if he plans to pay by cheque?
We are in process of selling our car - guy is coming to look at it tomorrow but sounds very keen and telephoned yesterday to say he has already sorted out insurance.
I think he intends to pay cash. Is that a good idea? OH is planning to bring his ultra violet light thingy home from work and plans on buying one of those checker pens. Do you think this will be ok? What if he plans to pay by cheque?
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Comments
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If you are really concerned don't touch the cash, do the deal at home come to an agreement, both go to your bank branch.
Buyer hands money to teller stating that it is £xk teller checks counts and deposits, you hand over V5 in bank, buyer drops you home.
Job done.0 -
Thats what ideally we would like to do but buyer is coming on a saturday afternoon and branch will be closed.0
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If you're gonna use a bona fide "ultra violet light thingy" to check all the cash then I doubt there'll be much of a problem!
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How much cash? Anything over £10,000 can be an issue with banks due to money laudering regs. Have you considered an online bank transfer?0
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Missed the end of your original post - please tell me you wouldn't even consider taking a cheque and letting someone drive away with your car.0
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If he wants to pay by cheque dont let him take the car till its cashed .0
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I just accepted a bankers draft for 10k plus 1k in cash. all deposited in the bank while the buyer was with me.
bankers draft might be the best bet.....you might also be able to phone the issuign bank and get them to confirm the number on the draft to confirm its authenticity.
Keen photographer with sales in the UK and abroad.
Willing to offer advice on camera equipment and photography if i can!0 -
dont worry i wouldnt be so stupid as to let them drive away with the car without the cheque clearing. we are only talking £1700 but dont want to be stitched up. doubt they will be able to arrange a bankers draft now though. car has only been up for sale since sunday and buyer has only asked to know £50 off so seems too good to be true.0
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