Accepting cash in payment for a car - how much is ok?
Discussion
My car is for sale at the moment, and one potential buyer called asking if I would accept cash if everything was ok. The thing is, the sale price will be around £25k, and I am a bit nervous about the prospect of accepting this much cash.
Has anyone else undertaken a sale involving this amount of cash, and is there anything I should be concerned about? The deal would take place over a weekend, so no prospect of a bank checking the notes. He would want to take the car away there and then, as he would be travelling a few hours to get to me.
Any advice or thoughts would be welcome.
Has anyone else undertaken a sale involving this amount of cash, and is there anything I should be concerned about? The deal would take place over a weekend, so no prospect of a bank checking the notes. He would want to take the car away there and then, as he would be travelling a few hours to get to me.
Any advice or thoughts would be welcome.
I sold a couple of years ago to a Lotus to a French guy for cash at Luton airport, after he flew over from Paris and then drove it back. So I'm not averse to the principal of cash, but 25k is a bit different to 9k. Think asking for the option of a direct bank transfer may be the best solution, but will checknwithnthe bank on how quickly it will appear in my account.
This all be academic, as it may come to nothing but I appreciate all the comments.
This all be academic, as it may come to nothing but I appreciate all the comments.
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