Selling a car - safe payment help?

[MrLou]

Safest method is for the buyer to bring cash and deposit it into your bank whilst you're there.

The bank will check the money, you know the money is in and can give him the keys, paperwork there and then.

Of course, the buyer might not like the idea of wandering around with a large amount of cash, but that's another question...

Edited by MrLou on Tuesday 1st June 13:27

[MrLou]

Buggles said:

Well that's the other problem, I often wander if anyone would pay cash when we are talking about walking around with 10+ grand cash.
Maybe I'll just have to take the hit and try and part ex it.

Another option would be to go with them to their bank, get a counter cheque drawn up there and then, and then walk to your bank to pay it in. Not quite as safe for you as the cash option, but still pretty safe.

[edo]

This is what just happened for over £36k:

Go with seller to his bank. Watch him withdraw Bank draft with passport for required sum made out to me.
Go to my bank and pay it in.
Give him the keys.

The above is where you bank at difference places.

Same bank is even easier of course. They can do cash (cash doesn't even cross the counter and pays straight to your account).

[MrLou]

Buggles said:

MrLou and edo, thanks very much. Good to know that there are people still selling things privately for large sums of money.

Not me, far too risky these days. What with all the dodgy buyers, fake drafts, cheques and notes