Sold the Merc but I need some advice

[DanW]

A main dealer has bought my SLK and is coming on Thursday to collect.

He's bringing a bankers draft but I've heard they can be dodgy.

Should I take him to a bank to have it verified before I release the car, and if the bank verify it, is there any way the funds could not clear?

 

[smartbrabus]

You can phone the bank / BS it was drawn from and confirm the number s and details are valid.

 

[MangoMan]

Personally, I'd wait until I have the cash in my hand.

Ciao, Bill.

NB. But it's your decision.

 

[grober]

Bank drafts are the safest type of "paper" transfer of monies. They cant be "stopped" like a personal check. Its the Bank promising to pay you not the individual. The cash is debited from the payers account and held for payment to you at the time the draft is issued. If you have doubts meet up with the guy at a branch of the bank his bank draft is from to check or phone as suggested above.

 

[Tan]

Can the dealer not do a chaps transfer into your account.

 

[DanW]

OK I've phoned my bank and they advise I call in where they can verify it with his bank.............

Just the thought of handing over a 20K car and then the funds not clearing makes me shiver to the core.....specially as I've already bought it's replacement.

 

[grober]

CHAPS possible but means revealing your account details to a third party?? Makes your friendly local MB dealers paltry part exchange with a nice cup of coffee in a gilded palace seem quite attractive! I'm assuming the "dealer" isnt MB

 

[BTB 500]

Surely the chance of a main dealer trying to defraud you out of 20k is minimal. No harm in playing ultra-safe though, I suppose.

 

[grober]

Mb Main Dealer Bankers Draft

OOPS I have just read your post again. A bankers draft from a MB main dealer is as safe as it gets. But no harm in confirming with your bank for your own peace of mind.

 

[garystu1965]

Bank drafts are the safest type of "paper" transfer of monies. They cant be "stopped" like a personal check.

You have to be careful here. If someone hands you a "bankers draft" not on bank territory and then you go to a bank to cash it in who's to say it isn't valid. For peace of mind it needs to be done in the bank. However in the case of main dealer transaction there is no chance of a fraud.

 

[Shude]

CHAPS possible but means revealing your account details to a third party??

The same information is written on every cheque in your cheque book.