buyer wants to pay cash (in notes) for car

[SilverSaloon]

hi

as u may know i am selling my car privatly. Buyer says he will pay £16,000 cash in actual folding notes.

is this wise? he is travelling 200 miles to pick up the car and plans to leave his current car (with keys) outside my house until he can arrange to come and pick it up... apparentyly the car is a gift for his wife....

i am a bit concerned that i will get paid in iffy notes....

any advice?

 

[Ashley]

I love cash. If you’re worried I would ask him to put it your bank with you. Sorted.

I would never go to buy machinery or a second hand car with anything else but cash. NO VAT, NO TAX nice way to get rid of any skim.

 

[Apial]

Take your buyer and his suit case of notes to your bank or building society. Let him carry his own suitcase. You musn't take responsibility for it. Pre-arrange for a private room for the money to be counted by one of the bank's staff and to be deposited straight into your bank account.

If the bank accepts the notes, then they are good. You will not have to worry about walking around with the cash fearing that you will be mugged. The cash will be safe in your account.

If the money is bad, then I'm sure the bank will confiscate the lot of it and your buyer will have his pictures all over the CCTV. They might even call the police, but make sure you get plenty of tea and biscuits to waste the time, as they usually are to busy to turn up in a hurry.

 

[Aswall]

Yes I agree, get him to go to the bank with you and they will check the notes as they pay them in to your account

 

[SilverSaloon]

Yes I agree, get him to go to the bank with you and they will check the notes as they pay them in to your account

problem is he is coming 2nite arriving about 10pm and all banks are closed.... is there any personal info i should get from him or something?

 

[Ashley]

Phone you’re local and see if they have a note pen or UV light you can lend for spotting forgeries.

 

[GRAV888]

How about taking a copy of his passport and driving license (or ask him to leave them with you until he picks his car up) and take a digital photograph of him with the money as proof if they are dodgy notes.
Just my 50p worth.

 

[SilverSaloon]

Phone you’re local and see if they have a note pen or UV light you can lend for spotting forgeries.

do u kniow if asda's or tescos sell these?

 

[SimonsMerc]

problem is he is coming 2nite arriving about 10pm and all banks are closed.... is there any personal info i should get from him or something?

Personally I would not take a case of notes from anyone at 10pm with no valid way of checking them. It's a risk, a big risk. If you absolutely must do it, have a bunch of witnesses - call some friends over and have them around to witness the transaction. Won't help too much, but at least you'll get a second opinion and if the guy is about to scam you he may think twice.

A grand or two in cash, yes. But 16k?

-simon

 

[Ashley]

To tell you the truth I wouldn’t do it unless I knew his credentials. 16k a lot of money.

 

[SilverSaloon]

To tell you the truth I wouldn’t do it unless I knew his credentials. 16k a lot of money.

problem is he is on his way now....

 

[GRAV888]

problem is he is on his way now....

Do you know a friendly 'bobby'?
Or even your local station might be able to just pop by and check them for you?

 

[Ashley]

I don't allow the staff at the hotel to take £50’s form anyone even if it means losing a sale. Also I know being just over the broader in Cumbria we are always getting mail shots about dodge Scottish notes.
Ask him to come back tomorrow.
I also know that we are only insured for £5,000 locked in the safe in the farm house and this is commercial policy. And we had to request a increase from the standard £3,000. Rock and hard place.

 

[Apial]

I assume the guy has already seen your car and wants it. Ring him now with an excuse and then tell him that you will drive the car to him tomorrow. Arrange for the cash to go into a bank local to him. Make it a really good excuse. Book him into a hotel if need be.

If you decide to take the cash, then you must be sure it is real. If the cash is real, you had better have a good place to keep it until you bank it. Remember that his car could have 2 sets of keys, and that the car he arrives in may not be his car.

You have left it a bit late I'm afraid.

Tell him it would be better for him to have a nights kip in a local hotel. Doing a 400 mile round trip would be very tiring for him and he would n't be home much before 3 am anyway.

 

[KLP 92]

I always pay cash £ notes if i purchase a car.

 

[SilverSaloon]

Do you know a friendly 'bobby'?
Or even your local station might be able to just pop by and check them for you?

yeah i will phone the police now to see if i can borrow a pen or take some fo the ntoes to them or somethimng

 

[SilverSaloon]

yeah i will phone the police now to see if i can borrow a pen or take some fo the ntoes to them or somethimng

just rang police they say they dont have any pens or any way to check etc. they recommended going to a shop such as asda etc and asking them if they would check the notes using their UV stuff.

sounds the best idea i thinkl.

 

[Ashley]

I feel for you mate. What a f**king awful situation to be in.

 

[glojo]

My concern would be the security of the money.

Why is he leaving the car, he has paid the full price?

As has been stated you have left it a bit late to organise placing the money in an overnight safe deposit at your bank.

We are perhaps being overly suspicous, as cash is the way I always used to buy secondhand cars. Go to BT.com and check the persons phone number with his address. If that is in order I would think he is genuine. If it is not then I would be concerned.

Good luck,
John

 

[GRAV888]

My concern would be the security of the money.

Personally, I would spread the money around a few friends houses tonight.
You never know if he or his friends will come back at 3am to get it back.