Safest Way To Receive Car Payment?

rjtyrell

Hi,

I have sold a car on ebay, I have asked for a bankers draft. The chap is going to fax a copy of the draft on Friday and then pick the car up on Tues/Wed (as he is flying from Scotland)

He will obviously be bringing the actual draft on Tues/Wed so I can go straight to the bank and pay it in.

Can this still be canelled after it has been paid in?

And any tips what to look for?

Cheers

Sugar_Coated_Owl

Have a look at this thread here and the replies given.

pinkgem

rjtyrell wrote: »

Hi,

I have sold a car on ebay, I have asked for a bankers draft. The chap is going to fax a copy of the draft on Friday and then pick the car up on Tues/Wed (as he is flying from Scotland)

He will obviously be bringing the actual draft on Tues/Wed so I can go straight to the bank and pay it in.

Can this still be canelled after it has been paid in?

And any tips what to look for?

Cheers

its possible it could be faked

Avoriaz

Bank drafts can be and are forged so be very careful.

I know little about the precautions you can and should take so hopefully one of our resident experts will be along soon.

There have been recent threads on the subject that you should search for.

Good luck.

ssparry

Could he not pay you in cash? I ahve sold several of my dad's cars and always paypal or cash only or cleared cheque. Cash is obviously the best, but if it is a lot of money then make sure someone else is with you ( I would if it were me anyway!)

pinkgem

ssparry wrote: »

Could he not pay you in cash? I ahve sold several of my dad's cars and always paypal or cash only or cleared cheque. Cash is obviously the best, but if it is a lot of money then make sure someone else is with you ( I would if it were me anyway!)

don't accept paypal for a car! (or any other item that has to be collected or delivered in person)

you have no online trackable proof that item was delivered, a signed piece of paper will not do

buyer can do a claim back and you can do nothing if you cannot prove it was delivered

rjtyrell

Thanks to all who have posted, I spoke to Nationwide who advised me that a transfer is best and safest. I didn't really fancy £8500 in cash!!

So the chap has agreed to have the funds in my account for the morning of the day he collects. So I can phone my bank to check the money has arrived.

And I didn't want to use paypal as the fees are ridiculas