Selling privately

JAS52

I'm about to sell a car privately for around £6.5K

What is the best/safest way to accept payment?

I'm wary of cash in case it's forged - am I just being paranoid?

Thanks
J

bigisi

Most likely, yes.

Get the buyer to do a bank transfer there and then and don't let it go until you see it in your own account.

DUTR

bigisi wrote: »

Most likely, yes.

Get the buyer to do a bank transfer there and then and don't let it go until you see it in your own account.

Orr go along to the branch and they can pay it into your account over the counter.

Ectophile

Modern bank notes have a whole raft of security features that make them hard to forge convincingly. If you have a good look at several notes from the pile (not just the top and bottom), then it's unlikely they would get away with it.

JAS52

I'm in a village where the nearest branch is now miles away in the nearest town and where traffic in and out is a nightmare.

bigisi

Online banking?

The last car I sold the guy logged into his on his phone, made the transfer then I checked it had arrived before we did the paperwork and he drove off in it.

JAS52

Cheers, I think the phone/direct transfer option is the one I'll go for and mention that's the only payment option I'll accept in the car advertisement

Marvel1

Bank transsfer.

I did when bought mine, I phoned seller first to check if this ok, didn't fancy travelling on train 150 miles with £5k.

Did transfer there, showed seller phone if their numbers are right, then again once completed. They checked their account in it goes, all sorted, transfer sorted, off I go.

Arklight

Whether you are transferring or receiving, ask to see the other person's debit card with their name and account details, and preferably some photo ID we well.

Money from a hacked bank account can be pulled back from your account days later, and you'll also be under suspicion. Likewise if you are transferring to someone it's good to know that the numbers are right, and that you;re not actually transferring to their mate in Nigeria who will deny any knowledge of receiving anything.