Some advice - someone is coming hopefully to buy my car

[PRG123]

Hi,

I've never actually sold a car privately.... Someone is coming to view my car this weekend.... Anyone have any general advice on payment should he decide to buy.... Obviously it's not going to be a cash trasaction so how do I guarantee that I get the money prior to parting with my car.

Thanks

Pete

 

[Andyk]

Do a bank gtransfer from his account to yours ...YOu should be able to see the money there and then.....May take 30 mins or so but if its taking a hwile get him to phone his bank as this is another way to move the money.mOther than that I would only take cash and bank it with him present, but as you say thats alot of cash.....Thats the two ways I ahve sold cars private.

 

[Parisien]

Done the latter, but took him to bank and they counted and checked it then I told them it was a car sale....all done and dusted........electronic transfer can be a bit slow sometimes.....

P

 

[Parisien]

Even a bankers draft needs to clear and then some..........

P

 

[PRG123]

Ok thanks..... Now someone is actually coming to see it, not sure i really want her to go now :-(

 

[philw696]

Bank transfer thats how i did mine as did not want to carry cash with me.
Saw the car and new i was going to buy said to the owner who i had never met before can i borrow your pc logged on to hsbc which was his bank too and transferred money into his account.
Took seconds he logged on and saw money in account and i drove back to Somerset in my first Maserati.
Result.
Phil.

 

[dem maser]

i have sold many cars......i normally find bank transfer online alright and i can see it in my account after an hr (make him a drink)
the other way is bankers draft but make sure you ring the number on the back and verify its genuine.....we stopped taking cheques at the restaurant years ago after so many were fake andn ow bankers draft are going same way......

so bank transfer online or draft or cash taking them to the bank with you nothing else!!

 

[Andyk]

Seems bank transfer is the way to go then...........The only way I think.

 

[lozcb]

Old fashioned me , cash is king , love the filthy stuff , counting out again and again is all part of the enjoyment of the transaction , and you would be surprised how people melt at the sight of it when your trying to knock them down , pull out wodge a grand or so short of what you would like to pay and then be happy to walk away ,people feel sick at the thought of losing the deal and often weaken



regards loz

 

[Andyk]

I do agree with that Loz......WHen I bought my CSL it was cash...WOuld always got ot the bank with the buyer though and put the money in with them there just to make sure its all OK...

 

[PRG123]

I think I will go to the bank and do the transaction then I know it's legit...... Thanks for the advice

Pete

 

[Woody]

Last time I got paid for a car in cash it was £6k and even that made me uncomfortable.

For me personally, I would either ask them to transfer the cash and then let it clear or go with them to the bank and get them to pay it into your account there and then.

Last car I sold, the lad transfere the money over the internet. He picked the car up a day or two later which gave me plenty of time to call the bank to check it was 100% cleared and then released the car.

I bought my GS privately and as I know people are nervous when dealing with that kind of cash, I asked the fella where he wanted the money. He gave me all his details, but then when I saw it was the same bank I am with, I went with him on the day and paid transfered the money. No hassle at all and for the 15 mins it took, it gave him 100% peace of mind that the money was there.

IMO there's nothing wrong with selling privately. If the buyer starts making excuses or getting shirty about doing soemthing, then dont sell it to them. If they can see you're a genuine bloke selling a genuine car, then I wold expect them to be very upfront. If not, simply dont sell the car to them - its your choice.

Best of lukc with the sale.

 

[philw696]

Its what ever you feel is right.
Majority of the time you don't know each other but if the body language is good you should be ok.
I drove up to the middle of no where in west yorkshire with the cash last weekend to buy the Z4.
As Loz said they see the dirty folded stuff they are going to do a deal and that worked in our favour.
Its just about being careful as there are bad people everywhere.

 

[PRG123]

Thanks. Woody ... Not going to budge at all on price, as I think its worth every penny.... He's coming from solihull to Bracknell
09:30 in the morning on Sunday, so early start for him.

 

[lozcb]

Its what ever you feel is right.
Majority of the time you don't know each other but if the body language is good you should be ok.
I drove up to the middle of no where in west yorkshire with the cash last weekend to buy the Z4.
As Loz said they see the dirty folded stuff they are going to do a deal and that worked in our favour.
Its just about being careful as there are bad people everywhere.

Agree with you Phil


Any one who doesn't like or want to deal in cash is dodgy in my opinion , they have something to hide , or worried that the bank is going to ask too many questions when paying in large sums of filthy lucre, sod it i pay my taxes , ive got nothing to hide , many a time ive paid out or taken well in excess of the so called dreaded £10K band no problems what so ever , way the Banks are stacking up and according to Panorama they are all trading illegally thems selves anyway , they are trading when they are technically insolvent , and thats against the law wont be long before we all back and stashing the mattresses again ,


regards loz

 

[maserati]

When I bought my QP the purchaser accompanied me to the bank. The bankers draft was then raised in his presence. This gave assurance that the draft was genuine........ Remember that if you unwittingly pay in a stolen or forged draft, the money will appear to be in your account right up until the point the bank makes the discovery, at which point the funds will be reversed from your account.... Cash is a powerful negotiating tool and I have bought and sold successfully in this way. However, with larger sums the risk of becoming a victim of robbery or counterfeiting increases.

Paul

 

[Parisien]

When I bought my QP the purchaser accompanied me to the bank. The bankers draft was then raised in his presence. This gave assurance that the draft was genuine........ Remember that if you unwittingly pay in a stolen or forged draft, the money will appear to be in your account right up until the point the bank makes the discovery, at which point the funds will be reversed from your account.... Cash is a powerful negotiating tool and I have bought and sold successfully in this way. However, with larger sums the risk of becoming a victim of robbery or counterfeiting increases.

Paul

Good way to do it Maserati........was under the impression banks are duty bound to disclose cash lodgements of above 5 or 10K?!

P

 

[lozcb]

Good way to do it Maserati........was under the imnpression banks are duty bound to disclose cash lodgments of above 5 or 10K?!

P

Yes they are Frank , sealing is or was £10K, but if you have nothing to hide whats the problem , so they find out you paid in £40K in cash what the heck you have just sold a car for cash where's the problem , only a problem if you have bought the car with ill gotten gains in the first place and cant substantiate where you got the funds to purchase it , dont see it as anything to be wary of , thats if you pay your taxes


As far as im aware you can buy and sell vehicles up to 5 times in any one year without having to declare your a dealer in which case you have to declare profits or losses made , so if you sell 4 a year and make a profit thats not classed as earned income hence its not declarable

Dont sell drugs do you Frank , thats who they are after , not really the odd low key tax dodger



regards loz


regards loz

 

[philw696]

Ive never realy been described as a odd low key tax dodger before.
But hey i quite like that Work hard play Hard.
Phil.

 

[Parisien]

Yes they are Frank , sealing is or was £10K, but if you have nothing to hide whats the problem , so they find out you paid in £40K in cash what the heck you have just sold a car for cash where's the problem , only a problem if you have bought the car with ill gotten gains in the first place and cant substantiate where you got the funds to purchase it , dont see it as anything to be wary of , thats if you pay your taxes


As far as im aware you can buy and sell vehicles up to 5 times in any one year without having to declare your a dealer in which case you have to declare profits or losses made , so if you sell 4 a year and make a profit thats not classed as earned income hence its not declarable

Dont sell drugs do you Frank , thats who they are after , not really the odd low key tax dodger



regards loz


regards loz

Over here Loz.....all sorts going on so they are even more vigilant....I stopped selling drugs as a new years resolution..............onus is on the payer-in to account for money, above a certain amount.

Not really tax dodgers but money laundering with us so close to the Eurozone/Border.......and drugs entering RoI for the EU !!


P

P