Selling car - dilemma - advice required.

Discussion in 'General Discussion' started by peterg1965, Jan 14, 2009.

  1. peterg1965

    peterg1965 Hardcore MB Enthusiast

    Messages:
    1,132
    Joined:
    Dec 22, 2007
    Location:
    Lancashire
    Car:
    BMW F15 X5 40d, BMW 335d M Sport
    Looks promising that I have sold my Jaguar. Chap called me late on Monday night, very interested and in a short space of time we agreed a price on the car. He said he wanted it, provided it was as I described, which it is (it comes with 11 months Jaguar Approved warranty too). He said he would call back today.

    He did call back, still very keen and he is coming up to buy it at the agreed price late AM saturday, he is travelling by train up from Peterborough. I asked how he intended paying, he asked me what I prefered. There is only one option at that time on a weekend, that is cash. There is no way of banking/checking bank drafts so no choice but cash. He sounded as nervous as I did when I raised the prospect of having £7400 cash to deal with.

    Anyway, I asked him to email me his address, which he has. I now have his name/address and mobile number. I tried to find his land line number on the BT online phonebook, no joy but he might be ex directory. I am going to meet him at the station and bring him to my house late AM saturday. I live in close proximity to many other houses.

    I am not used to selling cars privately (done it once before but it was a banger) and dealing with this much cash and I am slightly nervous of
    going ahead with this (no other choice I know!). Are there any other precautions I should/can make to ensure that I reduce the probability of being 'done over'/swindled/ given counterfeit money or whatever. Or am I being paranoid?
     
  2. stella1

    stella1 New Member

    Messages:
    17
    Joined:
    Nov 23, 2008
    Location:
    birmingham
    Car:
    c220cdi avantgarde
    Easy,take a couple of mates with you
     
  3. C240Sport97

    C240Sport97 MB Club Veteran

    Messages:
    8,625
    Joined:
    Feb 22, 2004
    Location:
    London E1
    Car:
    SL400 and 911 GT3
    whenever I sell a car privately:

    1. call the bank which issued the banker's draft to confirm that it is legitimate

    2. the number for the bank is obtained from the internet (not the buyer)

    3. buyer is asked to bring passport and utility bill
     
  4. timskemp

    timskemp Hardcore MB Enthusiast

    Messages:
    3,090
    Joined:
    Dec 9, 2006
    Location:
    Hull
    Car:
    W213 E220d
    Counterfeit money is reasonably easy to detect, grab a detection pen or lamp, or both - it's a fraction of the cost of the car!

    If you have a friend who works in a bank have them around to count the money...

    Don't forget to make at least a handwritten bill of sale, as it's likely your bank will ask where you got 7400 quid from in readies. Also be prepared for the buyer to haggle, if I were coming with 7400 quid for a car I'd expect to be taking 400 of that home with me at least, in fact 400 would be in my wallet and 7k flat in an envelope.
     
  5. Beetnik

    Beetnik Hardcore MB Enthusiast

    Messages:
    538
    Joined:
    Jun 22, 2008
    Location:
    Yorkshire
    Car:
    Volvo V60 2.4 bi-turbo: SLK 200
    See this done and also seen the draft bounce. £5k and fortunately not payable to me.
     
  6. crockers

    crockers MB Club Veteran

    Messages:
    7,099
    Joined:
    Mar 30, 2007
    Location:
    North Wilts
    Car:
    XC60 MY2014 SeLux Nav plus lot and lots of toys...
    I sold a car on a saturday - we went to a Building Society where he withdrew a building society cheque in my favour....

    They are open on a saturday...If he only has a bank account - then why not do as c240sport97 says.

    Paying in a large amount of cash may also cause you some difficulties.....money laundering etc
     
  7. OP
    OP
    peterg1965

    peterg1965 Hardcore MB Enthusiast

    Messages:
    1,132
    Joined:
    Dec 22, 2007
    Location:
    Lancashire
    Car:
    BMW F15 X5 40d, BMW 335d M Sport
    It's cash so no issue with calling the bank. The only risk with cash is counterfeit I suppose. Good call on the ID though, I will ask him for passport/driving licence as proof.

    BTW am hopefully seeing/driving driving the Jaspar Blue CLK55 on Saturday/Sunday. I must remember to leave the cash at home though, otherwise heart will rule head and I could be tempted to make hasty decision AGAIN!
     
  8. C240Sport97

    C240Sport97 MB Club Veteran

    Messages:
    8,625
    Joined:
    Feb 22, 2004
    Location:
    London E1
    Car:
    SL400 and 911 GT3
    that's strange .. a banker's draft is supposed to be like cash, and cannot "bounce"
     
  9. C240Sport97

    C240Sport97 MB Club Veteran

    Messages:
    8,625
    Joined:
    Feb 22, 2004
    Location:
    London E1
    Car:
    SL400 and 911 GT3
    not keen on this ..

    counterfeit risk

    robbery risk

    burglary risk

    and a lot of hassle
     
  10. OP
    OP
    peterg1965

    peterg1965 Hardcore MB Enthusiast

    Messages:
    1,132
    Joined:
    Dec 22, 2007
    Location:
    Lancashire
    Car:
    BMW F15 X5 40d, BMW 335d M Sport
    Although I want to sell it, I was advertising it for £7895 and agreed to lower it to £7400 (after a bit of haggling). If he plays hard ball I will keep it and he can then walk back to the station and catch the train home!
     
  11. timwood2000

    timwood2000 Hardcore MB Enthusiast

    Messages:
    596
    Joined:
    Feb 17, 2008
    Location:
    Bromley, Kent
    Car:
    R320 CDI SE LWB '07, BENTLEY CONTINENTAL FLYING SPUR MULLINER '06, FIAT 500 LOUNGE '58 & BMW R1200RT
    Cash is fine - if he is getting the money out of his bank, then it should still be wrapped with the paper tape around it etc.

    Take your time to count it - it might take a while and don't feel under pressure.

    Have a receipt printed ready for him and you to sign (2 copies) saying that the car is bought as seen, no warranty or guarantee is given etc.

    Ask him to bring some firm of ID to enable you to complete the V5 accuratley

    Always useful to have someone else there - even if only to keep them talking whilst you count the money.

    In the end, go with your gut feel - if when he turns up he looks dodgy, then take more time and care. If you've agreed a price, don't entertain any further haggling on the day (unless you really want rid of the car, which IRC you do!)

    Good luck.
     
  12. buccal

    buccal Hardcore MB Enthusiast

    Messages:
    1,418
    Joined:
    Jul 17, 2007
    Location:
    London
    Car:
    CLK55 AMG
    My uncle has been in the trade for 30+ years and assures me (surprisingly) that a banker's draft can be a problem too.
     
    Last edited: Jan 14, 2009
  13. buccal

    buccal Hardcore MB Enthusiast

    Messages:
    1,418
    Joined:
    Jul 17, 2007
    Location:
    London
    Car:
    CLK55 AMG
    Still angry:

    http://www.mbclub.co.uk/forums/showthread.php?t=57833
     
  14. OP
    OP
    peterg1965

    peterg1965 Hardcore MB Enthusiast

    Messages:
    1,132
    Joined:
    Dec 22, 2007
    Location:
    Lancashire
    Car:
    BMW F15 X5 40d, BMW 335d M Sport
    Thanks for the warning, I am certainly NOT selling for any less. As I said he can take a hike and get the train back from where he came from if he tries that. Any less than the agreed price starts to eat into the 'CLK fund'.
     
  15. buccal

    buccal Hardcore MB Enthusiast

    Messages:
    1,418
    Joined:
    Jul 17, 2007
    Location:
    London
    Car:
    CLK55 AMG
    don't you mean the petrol fund?;)
     
  16. OP
    OP
    peterg1965

    peterg1965 Hardcore MB Enthusiast

    Messages:
    1,132
    Joined:
    Dec 22, 2007
    Location:
    Lancashire
    Car:
    BMW F15 X5 40d, BMW 335d M Sport
  17. timskemp

    timskemp Hardcore MB Enthusiast

    Messages:
    3,090
    Joined:
    Dec 9, 2006
    Location:
    Hull
    Car:
    W213 E220d
    That's perfectly fair, it's just the way I normally play it when buying. I'd always have the agreed money to hand!
     
  18. timskemp

    timskemp Hardcore MB Enthusiast

    Messages:
    3,090
    Joined:
    Dec 9, 2006
    Location:
    Hull
    Car:
    W213 E220d
  19. OP
    OP
    peterg1965

    peterg1965 Hardcore MB Enthusiast

    Messages:
    1,132
    Joined:
    Dec 22, 2007
    Location:
    Lancashire
    Car:
    BMW F15 X5 40d, BMW 335d M Sport
    When it comes to the cash, should I tell him no £50 notes? I recall that many shops refuse to take them - why I am not sure.
     
  20. timskemp

    timskemp Hardcore MB Enthusiast

    Messages:
    3,090
    Joined:
    Dec 9, 2006
    Location:
    Hull
    Car:
    W213 E220d
    Take the fifties - less hassle to count, less common to counterfeit as harder to get rid of, and great fun in petrol stations (the only place where legal tender is an actual issue on the high street).
     

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.