Selling a car - any tips?

blizeH

Hi guys,

I have two (maybe three!) people coming to look at my car later, but I'm a bit clueless as to what exactly is involved! Am I right in thinking...

1) I shouldn't accept cash unless they're willing to actually take it into the bank for it to be approved/cashed in there and then?

2) The best payment method is a bank transfer, as you can easily see that the money is in your account, and it's near instant nowadays?

3) I just need to fill out the owners form, give them a slip, and then send it off?

4) On a £2k car, is £50 a reasonable deposit amount, if they want to pay later?

Thank you, and sorry for the silly questions

benham3160

Okay here goes, my opinion:

1) Yes.
2) Bank transfer is good, don't forget the humble building society cheque either if the bank is open and they're willing to come to the bank with you, this is essentially as good as cash.
3) Yes, I always take a copy, issue a receipt that you both sign and date, along with a copy for yourself, make sure it says "Sale and transfer of [registration number] with [VIN number] and that the owner has checked the vehicle over to their satisfaction and the vehicle is sold as seen.
4) That's up to you, depends how genuine you believe they are and how much you have paid to advertise the car.

My only other tip is don't be press ganged in to accepting silly offers by some wannabe Arthur Daly type waving cash, get a brutally honest picture of what your car is worth, and don't take less than this. Follow your gut instincts, if you think the sale is going to be more trouble than its worth, just politely decline.

It's too easy for people to watch a few episodes of "Wheeler Dealers" and see some "for television" sales than "try it on" in the real world, people of course will try and negotiate a price, but be prepared to decline if they want to offer you £600 less and do a "there and then" deal....... Beware the Mike Brewer is what I'm saying lol

Regards,
Andy

fivetide

blizeH wrote: »

Hi guys,

I have two (maybe three!) people coming to look at my car later, but I'm a bit clueless as to what exactly is involved! Am I right in thinking...

1) I shouldn't accept cash unless they're willing to actually take it into the bank for it to be approved/cashed in there and then?

No cash is cash. I'd just take it. Never been an issue. Besides, how are you supposed to get it to the bank if they come on an evenign or a sunday?

Check the notes though, make sure that the lettering for Bank of England is properly embossed. You can usually spot a fake note purely on the paper it is printed on.

2) The best payment method is a bank transfer, as you can easily see that the money is in your account, and it's near instant nowadays?

True. They might be able to do it as a card transaction. Ask at the desk.

3) I just need to fill out the owners form, give them a slip, and then send it off?

Yes but i would also give them a reciept. Make two copies, noting the reg of the car and the time and have them sign it. That is because my friend sold a car and the new owner "tested it out" on the way home and got flashed by a camera. There was then a big agrument over whether it had happened before or after it was sold (buyer tried to blame my friend). If you have it in writing you are ok.

You need to post the big bit of the form off to the DVLA though.

4) On a £2k car, is
£50 a reasonable deposit amount, if they want to pay later?

Thank you, and sorry for the silly questions

non-refundable of course

Beyond that, clean the car out, make sure all your stuff is gione in case they do want to drive away and if possible try not to drive it. I'd much prefer to see and hear a car start from clock cold.

Good luck!

5t.

sillygoose

Test drives can be a tricky issue too. They are very unlikely to have full insurance for your car but may be allowed to drive someone elses car 3rd party under their policy - ask to see it. Problem here is if they cant drive properly and crash it, you/they won't be able to claim anything. If they drive and are not even 3rd party (or banned!) and your alongside your committing an offence too by allowing yourself to be carried by an illegal driver.

Better to do it off the public road, offer to drive them to the biggest quietest car park that is likely to be empty, plenty on the big industrial estates around here after office hours. Let them have a drive. When you get out to swap sides switch off the engine and take the keys with you. Hand them over when your sitting in the passenger seat. Take a 2nd along person too preferably!

blizeH

Thank you so much for the responses guys - I had a good read through your comments though didn't have a chance to respond yesterday since I was stuck in meetings all day yesterday, right up until the point of the guy coming to see the car (luckily I gave the car a wash at 9:30 the night before!!)

Anyway, the first guy that saw it really liked it and bought it, he paid cash but seemed like a genuinely really nice guy (and his wife too who also came to look at it) and the money is all safely now in the bank

Good shout about the insurance too, thanks - we talked about it before, he was insured third party only but really only drove it for maybe a minute tops, to ensure everything handles/drives the way it should.

All in all I'm a little sad to see the car gone, but happy it's gone to a good home - and a little relieved it all went so smoothly and the first person who saw it liked it, although it was a nice car.

Thanks again all!

fivetide

blizeH wrote: »

Good shout about the insurance too, thanks - we talked about it before, he was insured third party only but really only drove it for maybe a minute tops, to ensure everything handles/drives the way it should.

Glad it went well!

On the above for anyone else readign this - third party is ok as long as they have all the cash to buy the car.

I let people test drive on a "you bend it you bought it" basis! Most will only be covered 3rd party by their insurance although it is worth them checking. Lots of people assume they have it if they are fully comp but insurance companies have been quietly withdrawing the benefit unless you pay extra!

5t.