Selling Query

[jimmyV8]

I have also posted this in the General Gassing section. I am currently in the process of selling my car. It is currently financed and I have made the potential new owner fully aware of the situation and I am looking to clear the finance with the proceeds of the sale. He is based 250miles away from me and hopes to make a single journey down to view and take it away if happy. For obvious reasons he doesnt want to pay me in advance and I am hesitant to release the car without the finance cleared. The guy has said he will give me a bankers draft made out to the finance company which will clear the outstanding balance. If I am present when the draft is drawn from the account, so I know it is genuine, should I be happy with this? Or do I need to wait until it has cleared before releasing the car?

[ringram]

Speak to the finance co, they can act like a escrow agent hopefully. CHAPS usually happens within an hour or two.
He can pay via that while he verifies the finance co and finds someone there who can check their account for cleared funds and you can release car... or similar...