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Selling My Car Accepting Payment
hey all,
just in the process of selling my car, the last car I sold was only £1,000, so was happy accepting cash, however, I'm hoping to get £7k for my current one, so was looking for advice on accepting payment on this.
Clearly the person could pay cash, but what if they want to pay by cheque or any other means? Don't want them giving me a cheque or whatever and then disappearing with my car, so how is it normally done?
Cheers
Edward
just in the process of selling my car, the last car I sold was only £1,000, so was happy accepting cash, however, I'm hoping to get £7k for my current one, so was looking for advice on accepting payment on this.
Clearly the person could pay cash, but what if they want to pay by cheque or any other means? Don't want them giving me a cheque or whatever and then disappearing with my car, so how is it normally done?
Cheers
Edward
0
Comments
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Best way IMO is to let the buyer pay by bankers draft. Both you and buyer go into your local bank branch, put bankers draft straight into your account and get a receipt."He's a maniac, maniac that's for sure,
He will kill your cat and nail him to the door" :eek:
Murphys No More Pies Club Member #950 -
...but there are fake bankers drafts...0
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I am sure there is a better option if both in person at the bank anyway, is it a CHAPS transfer that (for a fee) clears straight away? if you have different accounts and can then check the money has cleared, V5 completed as appropriate, keys handed over etc etc...0
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Building Society cheque and ask to accompany him to the branch when he gets the cheque.0
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I am sure there is a better option if both in person at the bank anyway, is it a CHAPS transfer that (for a fee) clears straight away? if you have different accounts and can then check the money has cleared, V5 completed as appropriate, keys handed over etc etc...
Yes actually this is the better option, i completely forgot about CHAPS. Payment should go in same day. Buyer will need to check with their bank as there is normally a cut off period for it to arrive on the same day. Costs anything between £12 to £25 depending on which bank he/she is with."He's a maniac, maniac that's for sure,
He will kill your cat and nail him to the door" :eek:
Murphys No More Pies Club Member #950
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