Accepting payment for used car?

paulfoel

Sold car on ebay.

Safest way to take payment. Cash I guess could be forged.

Bank transfer? Or can this be rescinded?

foxy-stoat

Buy yourself a money pen if you want to take cash. Bank transfer is fine, just wait until you see the funds have cleared before handing over keys.

paulfoel

foxy-stoat wrote: »

Buy yourself a money pen if you want to take cash. Bank transfer is fine, just wait until you see the funds have cleared before handing over keys.

Yes seen money pen on amazon for a few quid.... Bank transfer is less hassle and you can see it there I guess.

alan_d

How much are we talking?
For under £1000 i'd have no issue with cash, as it's easy to count and check, with a pen as suggested above.
Any more bank transfer is really the only option.

paulfoel

alan_d wrote: »

How much are we talking?
For under £1000 i'd have no issue with cash, as it's easy to count and check, with a pen as suggested above.
Any more bank transfer is really the only option.

£1400 so not huge amount more.

Rainbowgirl84

Go with them to a branch of their bank and get them to withdraw the money over the counter?

onomatopoeia99

paulfoel wrote: »

£1400 so not huge amount more.

Cash for that much. It's at a level I think most people would be happy enough carrying it around in their wallet.

Jackmydad

I thought the money pens worked by detecting starch in the paper.
Not much use on the new plastic notes?
UV torch shows the marks on the new notes quite well.

agrinnall

Bank transfers are great, but there are (at least) two potential problems: the account that the money is coming from might not belong to the buyer; and although the transfer is usually more or less instant, it isn't always, and you could be waiting around for hours or even days to confirm that it's arrived.



The last time I sold privately I was fortunate that the buyer used the same bank as me so we went to my local branch and did the transfer over the counter, which was instant.

Hermione_Granger

If you decide on accepting cash then as suggested, get a forgery checking pen and tell your buyer that you will only accept £20 and £50 notes (these haven't been issued in polymer yet).

Clive_Woody

Go for cash and get the buyer to meet you at a local branch of your bank. Pay the money into your account then hand over the keys once the bank has accepted the money.