Selling my old car privately

spurdog1

I hav had my car 15 years, so along time ago i sold.

What would the buyer expect in payment?

Cash for the seller is "dodgy".

Take them to your bank to clear cash cheques?

Bank transfer into my account?

Bank Draft?

Which is the best for both of us?

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Once cleared funds hand keys and documents over, notify DVLA?

born_again

15 year old car.

Cash or bank transfer given the value.

Woodstok2000

Bank transfer - takes minutes.

Blue_Doggy

You could consider donating it for charity. There are a number of charities who work with firms who will collect your old car, dispose of it as appropriate, and pass the proceeds to your chosen charity.

eschaton

https://forums.moneysavingexpert.com/discussion/comment/81928484#Comment_81928484

I think the OP was looking for the safest way of receiving payment. Not how to give the car away for free and get nothing.

user1977

And bank transfer means making your own check that the money has actually hit your account (there's a scam where buyers show you a fake app where it looks like they've made a transfer).

lincroft1710

Also beware after selling the car that a few weeks later the purchaser contacts you and says this or that has stopped working and wants to return the car for a full refund or asks for some money back. There's an extremely long thread in the Motoring section about the private sale of a campervan and subsequent unreasonable behaviour by the purchaser

Curiosity2017

https://forums.moneysavingexpert.com/discussion/comment/81928495#Comment_81928495

The new concept, money giving away expert 😆

TELLIT01

How much is the car worth? My preference would be cash. I sold a car for a grand about 20 years ago and the buyer paid in cash. I don't see why that wouldn't work now. I'd be very wary of bank transfer for the reason others have given.

Also provide a receipt stating 'sold as seen' and have the buyer sign your copy of the receipt. There is little protection for the buyer in a private sale unless you lie about the condition.

Woodstok2000

https://forums.moneysavingexpert.com/discussion/comment/81928733#Comment_81928733

A bank transfer is just as safe as cash. You just need to check your account yourself, not let the other person do it, but that's the same way you wouldnt accept a sealed envelope for a cash transaction.

Myci85

Bank transfer, provided you check in your own banking app that the money has arrived, is a pretty safe way.

However, when I helped my son buy his car a few months ago, I tried to do bank transfer and my bank clearly thought it was a fraudulent payment, or I was being scammed, and put the payment 'on hold'. Unfortunately it was a Sunday evening, so I couldn't call them to authorise the payment, and worried that if I left, the payment might go through and I would have no money and no car! I ended up having to call my banks fraud department, the only bit left open, get them to cancel the payment as I suspected it was a scam, and then return the next day to buy with cash.

So I guess if they pay bank transfer, don't do it out of hours, and get them to pre authorise it with their bank.