Selling Car Payment Advice

[Christopher-5353u]

Hiya

When selling a car thats in the 30k bracket, whats the safest payment method to accept. Keep hearing horror stories about bank transfers being reversed or forged notes etc and don't want to fall victim to fraud.

Also, got a potential buyer who if goes ahead, will be coming from Denmark. Whats the best way to under take payment from someome from abroad.

Kind regards

Chris

[Hoofy]

Bank transfer when you see him do it on a PC or phone.

No bankers drafts (can you still do this) or cheques paid in to your account - they can bounce.

[SundanceKid]

Just bear in mind that some banks have a limit on how much you can do in a single bank transfer. Case in point, I found I was only able to do a bank transfer up to the value of 20k on a Saturday with Lloyds. They said they could authorise an additional 10k for me, but that still wasn't enough to cover the cost of the vehicle so I was advised to wait until Monday when this would be possible via their "Higher Value Payments" team.

If he's coming all the way from Denmark you don't want it to be a wasted trip so make sure he has the ability to transfer the full amount, and then make sure you call your bank to confirm the funds have cleared before signing anything over.

[V8 Bob]

Best way is a bank transfer online..ask them to transfer £1 to check they have right details. Check your bank that it has appeared then get them to transfer the rest and again check it appears in your bank account.