Selling Car-Private Sale

Richard53 wrote: »

If you're taking cash, do the transaction in business hours, and bank the cash (or give that impression) straight after the deal. One case I read about - man sells car for a large amount of cash mid-evening. Puts cash in a 'safe place' ready to bank in the morning. Buyer drives off in the car. In the morning, man has 'coincidentally' been burgled and cash gone.


If it's a few hundred quid, probably not worth worrying about, but for larger amounts I would always prefer to do a bank transfer with the buyer there and then, over a coffee. With mobile banking it's easy to do, and it's far more secure for you.

The person who posted the original is allready paranoid about selling the car without telling them this:rotfl:

Richard53 wrote: »

If it's a few hundred quid, probably not worth worrying about, but for larger amounts I would always prefer to do a bank transfer with the buyer there and then, over a coffee. With mobile banking it's easy to do, and it's far more secure for you.

Then they do a chargeback and you lose it all.

You're being too melodramatic. An old car with declared problems isn't going to fetch enough to need a securicor van to take you to the bank.

Carrying a lot on of cash can be worrying, especially if it is unusual for you. I once bought a 5 month old caravan from eBay. Drove over 400 miles to collect it with cash in the glovebox. Worried the whole way there about finding a gang with pickaxe handles and alsatian dogs.

We found a lovely couple who took us in gave us tea, and threw in a whole lot of additional equipment, including a satellite dish, a skybox and a satellite finder.

macman wrote: »

You cannot do a chargeback from a bank transfer...

Ok - careless wording there. I meant the money will get reclaimed as the transfer happens from a hacked bank account.

Still very unlikely in my opinion.

We generally have a new car bought through normal retail channels. At times we've found one car isn't enough and I've supplemented this with a second car, often a banger. Not something I'm doing often, but in both buying and selling those I've found a presumption all round that the deal will be done in cash. I think those deals have always been under £1500.

On the few occasions, such as that £9500 caravan, where I have used cash for larger transactions, I have felt really anxious. Other people's tolerance levels will vary according to experience.

Richard53 wrote: »

I didn't say it would. I was warning of the danger of having a large amount of cash on your premises overnight when a complete stranger knows your address, possibly the layout of the house, and knows that the cash is there.


So you are agreeing with me. Am I being melodramatic or not?

I'm differentiating between high 3 figures / low 4 figures and almost a 5 figure sum. I'm very relaxed about the former, but found the latter anxiety inducing. Different people may have different tolerance levels - depending to a large extent, I believe on how often they've done it. I've never felt anxious about having cash in the house, but did feel anxious about carrying it 500 miles to a location unknown.

My anxieties were unfounded as I said. I imagined a builders yard, lots of men, threatening behaviour and a non-existent or dodgy caravan. Instead I found a nice couple who had paid £14,000 for it only 5 months earlier and wanted rid.

So yes, you were being melodramatic, and so was I!