Selling a 15k car
Discussion
Just after a little advice really folks. I'm thinking of selling my car soon for around the 15k mark. I just have a few thoughts and questions that hopefully you all can help me with.
Are people likely to spend this kind of money privately?
If the car sells whats the best way to go about excepting payment, it it really except able to ask someone to bring 15k cash!!
I know these may seam silly questions to some but as I've never sold a car of this value privatly before, I thought I'd seek advice from those with experience.
Are people likely to spend this kind of money privately?
If the car sells whats the best way to go about excepting payment, it it really except able to ask someone to bring 15k cash!!
I know these may seam silly questions to some but as I've never sold a car of this value privatly before, I thought I'd seek advice from those with experience.
At that price, dealing with cash maybe a little a frustrating. Counting it all and ensuring none are fake is enough to put me off.
Either:
1) Bank transfer, wait till the funds are cleared and release the car. All the while keeping in contact with the buyer and maintaining trust.
2) Go to his bank together and transfer it together. Keep the receipt, ensure funds are in your account and release the car.
Either:
1) Bank transfer, wait till the funds are cleared and release the car. All the while keeping in contact with the buyer and maintaining trust.
2) Go to his bank together and transfer it together. Keep the receipt, ensure funds are in your account and release the car.
moebiusuk said:
1) Bank transfer, wait till the funds are cleared and release the car. All the while keeping in contact with the buyer and maintaining trust.
2) Go to his bank together and transfer it together. Keep the receipt, ensure funds are in your account and release the car.
Sound advise. 2) Go to his bank together and transfer it together. Keep the receipt, ensure funds are in your account and release the car.
OP, there are plenty of people willing to spend £15k private (many may have taken a loan / extended the mortgage).
Depends what you are selling.
A 6 week old Ford Focus? Good luck my friend. People looking at this sort of car will normally get a Ford dealer monthly drip.
A lightly used Aston Martin DB9? Drop me your postcode and I'll be there before the pub closes!
The car is a 2008 Mercedes C class 320. I don't want to turn this thread into a "for sale" advert though so sorry if i've broken any rules saying that.
The most I've ever collected from someone was when I sold a bike for 5.5k. It was a pain to count and also a bit un easy walking to the bank with that in my pocket.
I like the idea of a bank transfer, I also hope that someone who would be buying a car for that much would also be happy and understanding to follow that process.
The most I've ever collected from someone was when I sold a bike for 5.5k. It was a pain to count and also a bit un easy walking to the bank with that in my pocket.
I like the idea of a bank transfer, I also hope that someone who would be buying a car for that much would also be happy and understanding to follow that process.
The transfer takes ages sometimes, better way is get him to book cash at your local branch of his bank, go with him and don't actually take the cash but get him to transfer the cash to your account which is instant and foolproof.
Did this when selling £45k car privately and loads cheaper.
Did this when selling £45k car privately and loads cheaper.
I paid for mine on my mobile phone.
Went to sellers place.
Logged onto my internet banking via the 3G network
Put his acc. details in
Made two separate transfers to total the amount (more than 15k)
Seller was sitting on his laptop refreshing his account overview page on his own online banking
Literally 3mins later i'd say, the money was showing in his account.
Shook hands and off i went.
I also called my bank that morning before i set off to inform them that i would be making such a payment, they were fine with that. Probably not an essential call but for my own piece of mind i called anyway to confirm.
Went to sellers place.
Logged onto my internet banking via the 3G network
Put his acc. details in
Made two separate transfers to total the amount (more than 15k)
Seller was sitting on his laptop refreshing his account overview page on his own online banking
Literally 3mins later i'd say, the money was showing in his account.
Shook hands and off i went.
I also called my bank that morning before i set off to inform them that i would be making such a payment, they were fine with that. Probably not an essential call but for my own piece of mind i called anyway to confirm.
Another vote for internet banking. Last couple of times ive bought and sold privately ive done it this way and the money is usually cleared within an hour or so.
Cash can be a problem these days. A few yrs ago i bought a car for £12k and went with the seller to put the money in his bank and had all kinds of problems.
They wouldnt accept the cash untill they had contacted my bank,confirmed my id and were happy that the money had been withdrawn from my account recently.
Not worth the hassle.
Cash can be a problem these days. A few yrs ago i bought a car for £12k and went with the seller to put the money in his bank and had all kinds of problems.
They wouldnt accept the cash untill they had contacted my bank,confirmed my id and were happy that the money had been withdrawn from my account recently.
Not worth the hassle.
DSLiverpool said:
And gave son unwelcome house guest for hours ! I suspect the example above was same bank for buyer and seller
Nope, Nationwide to Barclays... I was also with a friend recently buying a car and he paid the exact same way, almost instantaneous, again, two different banks.
Online banking has come a long way, safe, secure and fast - won't ever bother with cheques, bank transfers or cash again unless i have to!
I just bought privately for the same amount of money. Prefer buying private. You get feel for the car from the usually honest seller. Once I was happy I went to my bank (any branch is fine) and done a transfer. The seller was with a different bank. Somebody will have to pay the chaps fee though.
Edited by young_bairn on Saturday 11th January 20:15
All the transfers between the main banks happen pretty much instantly nowadays, even on weekends. But just to make sure it's probably best to transfer between same banks if possible. Also you can ask the buyer to set up a new recepient on his/her online banking before he comes to collect the car so all the security and verification has been done.
Most importantly I think you should build up some trust and rapport beforehand, you can usually tell if they are genuine from the way they talk, write emails, etc.
Most importantly I think you should build up some trust and rapport beforehand, you can usually tell if they are genuine from the way they talk, write emails, etc.
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