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Selling a car

Community Veteran
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Registered: 06-11-2007

Selling a car

No, I am not selling my Skoda Fabia.... just a query from a friend... needs some advice on how he should make sure payment is made.... his car is valued, by him, and for sale, at £3,500.00 ... he will take a lesser offer, if the buyer talks the talk !.. Of course,...  CASH would be nice, and straight forward... cheques, seem to have disappeared from general use, although still a valid form of "exchange"... however, they have been known to be "stopped" or just "bounced"... after the car has flown, so to speak... or bank transfer...
what are your thoughts on the safest way to go about this... to ensure, he doesn`t get ripped off..?
17 REPLIES
Community Veteran
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Registered: 18-01-2013

Re: Selling a car

You need to be careful, even cheques or bank transfers that have cleared can be reversed if they have been fraudulent.
I only ever take cash for sales like that.
Community Veteran
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Re: Selling a car

Cash - if you want to take the risk of one or many notes being fraudulent.
Have the buyer pay it in directly to the sellers account as cash at the bank - with the seller (so seller can be sure its cash going in and not a reversible transaction).
Gold Bullion.
Western Union or Paypal!!! (er.. maybe not!)
Timeshares...
Credits for time with the buyers wife  Cheesy
So many other ways  Cheesy
I need a new signature... i'm bored of the old one!
TORPC
Grafter
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Registered: 08-12-2013

Re: Selling a car

Quote from: 7up
<snip>
Credits for time with the buyers wife  Cheesy
<snip>

Be careful as the buyer may tell you to keep her, indefinitely Tongue
Seriously though
Where possible, take them to the bank / building society / post office etc, & get the buyer to pay into the sellers account (setup for only that purpose) seems the most viable option
If the buyer refuses / gets agitated / in defence mode etc, will speak volumes
Moderator
Moderator
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Re: Selling a car

Or he could have recently gone through a gay marriage.
I would insist on a cash transaction.
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Community Veteran
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Registered: 12-08-2007

Re: Selling a car

Or you could do a cash transfer from one account to the other. Sit in front of a PC and the two sides will see it happen.
itsme
Grafter
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Re: Selling a car

There's always the old and trusted Bankers Draft
Community Veteran
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Re: Selling a car

Bitcoin payment
otherwise I'd use direct bank transfer or cash. Make sure the sale is receipted with a list of agreed defects and also tell the DVLA using the appropriate bit of of the V5. Given the current political situation don't accept any Scottish bank notes unless you live north of Hadrian's Wall.
Now Zen, but a +Net residue.
Community Veteran
Posts: 18,551
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Re: Selling a car

Both parties have to trade Bitcoins for it to work I think Undecided
Community Veteran
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Re: Selling a car

Or accept 18 Gold Sovereigns.
Now Zen, but a +Net residue.
Community Veteran
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Registered: 06-11-2007

Re: Selling a car

Thanks for the advice, guys.... I think CASH is the answer, here..... he is not very savvy with computers, and bank transfers would probably throw him completely, going into a bank and getting some bank teller to sort it, would worry him, in case he was agreeing to something he wasn`t sure about !..
As for me... I can`t remember actually selling a car in my life,,....  they have expired on me, and been collected by the scrappy.  Leaving me to go and find another car..... fortunately, my present beloved Skoda came from a local village garage, and payment was done in part cash and part credit card...( no ongoing finance )...
Community Veteran
Posts: 18,551
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Registered: 12-08-2007

Re: Selling a car

Hope it all works out for your friend. let us know how he gets on Smiley
Community Veteran
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Re: Selling a car

Quote from: artmo
Or you could do a cash transfer from one account to the other. Sit in front of a PC and the two sides will see it happen.

Reversible though isn't it - thats what shutter doesn't want happening.
I need a new signature... i'm bored of the old one!
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Re: Selling a car

Advise him to do the transaction before the 1st of October when the added complications of the tax disc arise.
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Re: Selling a car

Cash, but after you have counted it just make sure there are no ink stains on your fingers !
Wink Wink