Selling safely
Discussion
Just thought I would ask you guys how you go about taking funds from private customers. I have heard a few horror stories about fake bankers drafts etc. I am selling my 997 C2S ready for my new GT3 and I would normally just do a straight trade at the OPC. However, I thought I would advertise it first as I know the OPC will give me a poor price. I thought I would ask for funds to be transferred directly to my account before handing over the keys. Does this sound reasonable?
Cheers
Cheers
The flip side being that, naturally, many buyers won't be overly happy with transferring £50k+ to someone's acct and not being in possession of much. Nothing to stop you heading off to Brazil with the car and proceeds.........Not that I'm suggesting you will of course but buyers face risks too, something that often seems to be forgotten by sellers.
If I had any doubts about seller, I'd not be willing to use a CHAPS transfer but then again, I'd probably not be buying their car in the first place.
I'll normally accept a bankers draft but would want to see ID like passport, utility bills and confirm draft issued by bank with phonecall, etc. It's probably still not 100% safe though and if I had doubts about someone, would reconsider.
Wouldn't worry too much - if you meet a genuine buyer, things normally fall into place ok. More chance of getting shafted by local OPC.
If I had any doubts about seller, I'd not be willing to use a CHAPS transfer but then again, I'd probably not be buying their car in the first place.
I'll normally accept a bankers draft but would want to see ID like passport, utility bills and confirm draft issued by bank with phonecall, etc. It's probably still not 100% safe though and if I had doubts about someone, would reconsider.
Wouldn't worry too much - if you meet a genuine buyer, things normally fall into place ok. More chance of getting shafted by local OPC.
I've just sold my 993 to a guy from S Ireland. He transfered £1000 into my account to take off sale then one week later he flew over with the balance in cash (£26500). He viewed the car at my address, then we went to the bank and put the cash in. They counted it and veryfied it then the money is mine. Back to my house and he drove off t'ferry.
No problems.
No problems.
sportsandclassic said:
Anything more than 10k they ask alot of questions and gets logged for investigation so im told
That's hilarious - it's your money, what's it got to do with them. Soon we'll all be keeping cash under our mattresses again so that Big Brother can't poke his nose in.
Personally, I only accept cash. I know we're talking large amounts here but it's the only really clean way to do the deal. Make sure the ink's dry though
Cash every time. It's easier if you bank with the same bank. Get them to pre-arrange the cash and do the transactions at the cashiers window. The money doesn't even have to be handed over (or even exist) so it's totally safe. That way the money transfers instantly and they can drive away with the vehicle.
I wouldn't entertain CHAPS as I would have to trust the seller with my future vehicle and my money at the same time.
I wouldn't entertain CHAPS as I would have to trust the seller with my future vehicle and my money at the same time.
AL001 said:
I'll normally accept a bankers draft but would want to see ID like passport, utility bills and confirm draft issued by bank with phonecall, etc. It's probably still not 100% safe though and if I had doubts about someone, would reconsider.
I read a story (on here, haven't tried a search!) about some bloke who sold an M3 for about £25k.
The buyer made sensible calls, came down to look, went away, came back. He had passport & bills, etc.. and a bankers draft. The seller phoned the bank who confirmed they had issued the bankers draft and all was ok. Buyer took the car, seller deposited the bankers draft, which cleared.
All ok?
No - 2 weeks later the bank came back to him and said although the draft was genuine, it was fraudulently issued and took all 25k back. Police were unable to assist (lack of resourcing preventing them spending time?).
Very worrying story - sounds like an advert to use dealers to me!
I've sold a few cars where buyers have been happy to send me CHAPS payments for over £10,000, without any proof of who I was and one woman never even viewed the car at my home address. She actually sent the money even though when she knew I was in Zurich at the time!
I haven’t bought a car privately for ages, but I would not carry cash on me, or CHAPs those kinds of funds without guarantees.
I would look to get something done with an independent lawyer, similar to completing a house purchase, where the car is only released once the lawyer confirms funds are paid.
I haven’t bought a car privately for ages, but I would not carry cash on me, or CHAPs those kinds of funds without guarantees.
I would look to get something done with an independent lawyer, similar to completing a house purchase, where the car is only released once the lawyer confirms funds are paid.
Pikey, yes remember reading that worrying story.
Don't have the stats to hand but I think the instances where people make the proper checks on bankers draft and get hoodwinked are relatively rare. Much more rare than getting shafted by your OPC when buying/selling at least. That's reliably guaranteed.
Don't have the stats to hand but I think the instances where people make the proper checks on bankers draft and get hoodwinked are relatively rare. Much more rare than getting shafted by your OPC when buying/selling at least. That's reliably guaranteed.
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