Handing over a used car
Discussion
As you might have read on one or two of my other posts, I'm just getting rid of the Clio and I'm trying to write something for the guy who is picking it. I'm trying to make sure that I don't get stung on the following:
1) That if the bankers draft gets stopped, he will be responsible for it and that he'll ensure the payment clears
2) As I've performed a cherished transfer, I don't have the up to date V5 yet, he needs to say that he will be responsible for any points, fines etc that the he collects from the morning he picks it up.
Is there any website that has a selection of templates for something similar to this? Or can a kind PH'er help me out? I'll get on with my version in the meantime!
1) That if the bankers draft gets stopped, he will be responsible for it and that he'll ensure the payment clears
2) As I've performed a cherished transfer, I don't have the up to date V5 yet, he needs to say that he will be responsible for any points, fines etc that the he collects from the morning he picks it up.
Is there any website that has a selection of templates for something similar to this? Or can a kind PH'er help me out? I'll get on with my version in the meantime!
Does this hold any weight what so ever? Just trying to keep something in my corner in case this all goes very wrong!
By signing this document I (from this point on I is referring to 'Name of person buying the car') will admit responsibility for any motoring offences, parking ickets, fixed penalty points or disqualifications from 00:01 on Saturday 4th March 2006 committed in RenaultSport Clio 182 registration mark XXXX XXX.
Also by signing this document I will take full responsibility for the validity of cheque number ________________ for the sum of £XXXX
I will ensure that this cheque will clear when banked and that I will be responsible for any failure in the cheque clearing process, in such an event I will immediately arrange an alternative form of payment in the means of a direct bank transfer.
Signed (Name of person buying the car) Date
____________________________________ ________________
>> Edited by theboyfold on Thursday 2nd March 23:36
By signing this document I (from this point on I is referring to 'Name of person buying the car') will admit responsibility for any motoring offences, parking ickets, fixed penalty points or disqualifications from 00:01 on Saturday 4th March 2006 committed in RenaultSport Clio 182 registration mark XXXX XXX.
Also by signing this document I will take full responsibility for the validity of cheque number ________________ for the sum of £XXXX
I will ensure that this cheque will clear when banked and that I will be responsible for any failure in the cheque clearing process, in such an event I will immediately arrange an alternative form of payment in the means of a direct bank transfer.
Signed (Name of person buying the car) Date
____________________________________ ________________
>> Edited by theboyfold on Thursday 2nd March 23:36
I suggest you say that title remains with the seller until payment is received in full and also that the car is sold as seen. Write two copies of the receipt identifying the car and the purchase price, both people sign and date both copies.
If you don't receive payment (e.g. the cheque bounces) it is still your car. Getting physical possession is another matter ... if you are seriously worried about this possibility then choose a more reliable way of getting the money before you release the car.
I wouldn't worry too much about speeding tickets etc, if you are accused of any offenses after he has taken possession then you would just name him as the driver.
If you don't receive payment (e.g. the cheque bounces) it is still your car. Getting physical possession is another matter ... if you are seriously worried about this possibility then choose a more reliable way of getting the money before you release the car.
I wouldn't worry too much about speeding tickets etc, if you are accused of any offenses after he has taken possession then you would just name him as the driver.
Parrot of Doom said:
Do not hand the car over until the money is in your account, and has cleared.
Its that simple. If you hand the car over before then, good luck......
The buyer must be picking the draft up today so get them to give you a call with the details. You then call the bank to confirm its OK.
Without doing this I wouldn't hand over any car.
vee said:
Do not hand the car over until the money is in your account, and has cleared.
Its that simple. If you hand the car over before then, good luck......
The buyer must be picking the draft up today so get them to give you a call with the details. You then call the bank to confirm its OK.
Without doing this I wouldn't hand over any car.
Cheers I'll do that now...
wanty1974 said:
Can't you insist on cash?
Direct transfer is all well and good for the seller but as a buyer are you happy to do.. I am not. You have to do it in advance of going to collect and then imagine getting to collect it and no trace of car or seller, obviously in this case if the buyer is happy then jobs a goodun for TBF.
On the whole, whilst it seems archaic, I still think cash is the easiest and best way for reasonable sums (i.e. under £15K), I sold a car recently and got cash for @£9K, paid in with no problems.
>> Edited by touchingcloth on Friday 3rd March 10:28
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