Selling car - what are the best ways to receive payment?

[Pommygranite]

Currently trying to sell my car and its been a few years since i sold a car in the UK. What are the best ways to sell a car without getting stitched up?

For info the car is a 5k Focus.

My current thoughts are:

Cash - but only if dealt with in my branch to verify authenticity of cash.

Bankers Draft - Still instant clearance and ok?

Bank Transfer - Is it ok or can it be claimed back/reversed?

Any others?

[blugnu]

Pommygranite said:

Currently trying to sell my car and its been a few years since i sold a car in the UK. What are the best ways to sell a car without getting stitched up?

For info the car is a 5k Focus.

My current thoughts are:

Cash - but only if dealt with in my branch to verify authenticity of cash.

Bankers Draft - Still instant clearance and ok?

Bank Transfer - Is it ok or can it be claimed back/reversed?

Any others?

My cousin got stung with a forged bankers draft. It cleared and then the funds were recalled, and the car got seized as evidence as I recall. Took him over a year to get the car back, by which time it was worth less, obviously.

[amir_j]

Pommygranite said:

Currently trying to sell my car and its been a few years since i sold a car in the UK. What are the best ways to sell a car without getting stitched up?

For info the car is a 5k Focus.

My current thoughts are:

Cash - but only if dealt with in my branch to verify authenticity of cash.

Bankers Draft - Still instant clearance and ok?

Bank Transfer - Is it ok or can it be claimed back/reversed?

Any others?

Cash at bank. i.e he pays you at your bank branch/transfers in front of you etc so the bank accept it into your account as cash there and then so no hassle.

Whether you do anything else is based on your instinct- i.e. how much you can verify of his background.

[philoldsmobile]

bank transfer or paypal every time. I wont even accept cash or cheques anymore, too risky.

[Pommygranite]

Can paypal be pulled back?

I've had a guy contact me today from Malta. Seemed nice enough but wanted to do a RAC check then if ok, bank transfer the rest. The hitch from me was that he wanted me to transport the car to Dartford from Bournemouth. It was a HSBC transfer (him) to HSBC (me) so felt that part could be ok.

However just seemed too complex so turned him down. His offer was too low especially given that he felt the transport costs for him would be too much and deducted this cost from his offer, but he expected me to take care of it.

I categorically stated i wouldnt do a remote arms length transaction and want the buyer to personally pay and collect the car.

So i'll do Cash (if handed over/verified at the bank) or a Bank Transfer with any buyers i think.

Seems the easiest way.

[philmots]

^ Could be genuine.. The price of cars in Malta is unreal.

[AMST09]

I have heard of people buying items and then getting paypal to reverse payment, people just whine its not as stated and paypal don't even bother investigating

[2 sMoKiN bArReLs]

When I recently sold a car I accepted bankers draft on condition I went to the branch with the buyer & was with him when it was provided by the bank.

[Pommygranite]

Result - after 28 phone call and 15 email enquiries car was sold. I think I must have priced it too low with that volume of enquiry but happy as it went quickly.

Had a few 'present for son, my agent will collect, pay by paypal' enquiries but overwhelmingly it was a lot of 'I'll give you £4k cash today' (it was up for £4800).

Buyer, who enquired 12 hrs after it was put on AT put the deposit down unseen and was happy to pick it up in person after going with me to the bank to pay in the cash to have it verified. result.

Just want to add, for the pics appearance I took it to the local Bournemouth Asda Car Cleaners who for £20 did an amazing cleaning job. Better than a few £150 details I've had.