Selling car - dilemma - advice required.

[jaymanek]

If he comes in the morning, I would go to the bank with him and get them to issue a draft there and then.
Ensure he brings passport and bank card with him as bank will need that.

If its afternoon then take the cash... most counterfeit cash is easy to detect. the paper is like loo roll and the queen looks like she's had a nightmare.

If he does pay cash, ask if you can have a photocopy of his passport or driving licence. Sounds strange but if they are counterfeit, the police can hunt the person down easily.

the other option is a bank transfer, but he would have to be happy to do this well in advance of seeing the car otherwise cleared funds may not reach the account in time.

Most importantly, if it seems dodgy at any time, dont continue with the transaction... I have been there and been burnt to the tune of £10K..

 

[w124nut]

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.
QUOTE]

I drew a large amount of money out of a building society in Lombard Street and it was given to my by the cashier in a sealed bag. I deposited this money still in its sealed bag, into my account at another bank who when checking it, found that a £20 pound note in the pile was counterfeit. The police were called.

 

[jaymanek]

A lot of banks wont count large amounts of incoming cash.. it is weighed and so counterfeit notes can slip through the net... very uncommon though...

You would have to have a large bulge in your trousers to walk into a high street bank and try to deposit a load of dodgy notes...

 

[mr. shr]

When I sold my CLK, the buyer and I went to my bank where the cashier counted the cash for me and payed it into my account.

Which bank are you intending to pay the money into and what time do they close on Saturdays?
Explain to the buyer that this is what you want to do, and if he / they are unable to meet you in time to do that, then rearrange the day of sale.

 

[NicDale]

Handling large amounts of cash isn't too much of a big deal, i've regularly bought with cash and been paid with cash, in fact sold my 06 Golf GTi for £16,750 and had it paid in cash.

First of all like one of the previous replies get some paper work sorted out, you'll need 2 copies, 1 for you, 1 for the buyer. Much easier to prepare them in advance than try and scribble something with sweaty palms. Words to effect of sold as seen, no warrantee implied or given are important. Have the car's paperwork too hand in a folder with the V5 at the top and current MOT underneath, don't leave half the paper work in the car and the other half in your house.

No doubt they are going to want to test drive the car first, ask for proof of insurance perhaps? This is always a good one as most honest buyers will be happy to have documentation to prove. Also doesn't leave you in the lurch if the worst was to happen on the test drive.

Seeing as you've never met these people before keep the keys on you. When it gets to the point of you getting out to let the potential owner drive take the keys out of the ignition! Always sit in the passenger seat at the front, don't hop in the back, this way when the test drive is over you can ask for the keys (a quick 'may i have the keys please') back before you get out of the car. Can't stress enough not to leave the keys in the car! Many times when i've been buying a car it would have been so easy for me to press the lock button and lock the owner out of the car with the keys in the ignition, lucky i'm not that way inclined.

I think taking a picture of someone with a camera at your house is perhaps a bit over the top though! But if you want proof of who they are, do you have a scanner at home? Take a quick scan of the driving licence.

When you get to counting the cash as has been previously stated the higher the demoninations the easier to count, very unlikely that a bank will have £7400 in £50 noted unless the buyer has requested it in advance. More likely to be £20s. Count slowly and methodically, large pile on your left/right and put them on the otherside of you as you finish counting each bundle, don't go scattering them over the floor, it'll just confuse matters and make a mistake more likely.

Having a friend with you at this point always helps if you're nervous of that much in cash, any body who is trying to short change you will try to break your concentration at this point with random and stupid questions about the weather/car/football. If it helps write down the figures as you count, a line for every £100/£200/£500 etc

As for counterfiete notes, firstly the pens above are very good, secondly the lettering at the top where it says Bank of England is raised, running your finger across this is a very good idea as most counterfieters can't/don't bother copying this part. On the new style notes £20 note the number 20 is also raised and repeated in the bottom right corner.

Hope i'm not teaching you to suck eggs here but i'm used to handling large amounts of cash and it's how i find it easiest.

 

[peterg1965]

Buyer due in an hour and a half. Have everything sorted (paperwork etc)and hopefully all will go smoothly! Car is washed, just checked tyre pressures etc so here's hoping for a simple transaction!

 

[A-AvantGarde]

Good luck!

My brother has a buyer coming to collect his car today too, fingers crossed for both of you...

 

[Will]

Buyer due in an hour and a half. Have everything sorted (paperwork etc)and hopefully all will go smoothly! Car is washed, just checked tyre pressures etc so here's hoping for a simple transaction!

Good luck,

It should all be ok.

Left any CDs in it or pound coins under the seats?

Here's to the new V8 MB replacement :bannana:

Will

 

[ackee911]

Sold it yet? Everything go to plan?

 

[peterg1965]

Gone!

Easy, decent blokes, very trusting, they didn't even drive it and only gave it a cursory look over! I must have a very trusting face! Cash all kocher! Saw passports/driving licences, he changed his insurance on his phone at my house. Perfect! I could count money all day..happily!

Now then.... that V8!

 

[buccal]

Great news Peter can't wait to hear about the test drives

 

[ackee911]

Good news. I know someone selling a CLK55..........

 

[peterg1965]

Good news. I know someone selling a CLK55..........

Any details?

 

[ackee911]

Any details?

Spoke to him briefly, he said:

CLK55 Tiptronic
2003
Cabriolet
40k
Met Blue
Black leather

If you want to speak to him, PM me and I'll send you his number.