Viewing my car

[brough74]

Ive got a bloke who has offered me cash for my car when he comes up to look at it. But its a lot of cash and im worried some might be fake.

Ive asked him to bring a photo ID and a household bill with his name on etc to put my mind at ease a bit, so it proves who he is if any notes are duffers.

I will take copies of the said items, is there anything else i can do except look at each note individually as if its the weekend the banks will be shut.

 

[A3_Black_Edition]

I always try and get them to come to the bank to deposit it with me. Not always possible depends on viewing but if a lot of money too much of a risk so I would ask for a bankers draft....

 

[Farhan]

agreed thats a lot of cash to have in hand, i would be vigilant.

 

[rOb_A]

bankers drafts are not a full guarantee.I'd take a small deposit and ask him to transfers funds into your account. This is advise i got form my bank when I sold my Elise for £18k.

 

[Ads]

bankers drafts are not a full guarantee.I'd take a small deposit and ask him to transfers funds into your account. This is advise i got form my bank when I sold my Elise for £18k.

^^^^^ Exactly this.

Then he can come and collect the car on Monday or whenever.

 

[Lensey]

£500 to secure the purchase for a week and full payment by BACs within that week

 

[PaulAr]

£500 to secure the purchase for a week and full payment by BACs within that week

Spot on.
I just did this for a large private sale transaction a few weeks ago.

£200 holding deposit then electronic transfer, can be done same day for a small fee I believe.

Even if you pay the cash into the bank, they reserve the right to reject any suspect notes found AFTER they have been deposited, upto 72 Hrs iirc.

Apparently receipt of the notes at the counter does not necessarily mean acceptance of the notes.
This is what they told me anyway.

In short, I wouldnt accept cash.

An alternative to this (I have done it) is if you both hold accounts at the same bank, you can go to the branch and make an instant transfer between accounts at the counter.

Good Luck

Paul

 

[Lensey]

Thats how I just sold my TVR to a German buyer

 

[SWILKO]

When I sold my Escort Cossie the guy had £16k in cash. My wife worked in a theatre and she borrowed a conterfeit currency detector pen. Went thru every note without any issues. Pain in the **** handling all he cash tho....

 

[hades-]

i always take deposit to hold then bank transfer
if he really wants the car and is legit
he wont mind waiting a day or 2 to pick car up

 

[NHN]

Cash is fine imho as we've sold a number like this in the past, just say lets pop into the bank to deposit it 1st, get them to check it all, job done, otherwise no car, simple & as said bankers draft doesnt mean much these days imho given the fakes, I insist on cash or transfer.

 

[xanderxxx]

Mate where are you in the uk I have a black light you can borrow to check it

 

[brough74]

Im in cumbria mate, probably too far away. But cheers for the offer. Im still waiting to hear when he is meant to be coming

 

[SiT]

A nominal deposit is fine and make sure it is a week day and go with them straight to the bank and get it deposited there and then. A straight buyer will not object to this and you will be good. Best of luck

 

[quattro81]

Get one of these mate.. Bank Note Counter Count Money Fast Banknote Pound Cash | eBay normally worth turning the magnetic sensor off, or turning the sensitivity down on it a little bit.. But the UV sensor is more than enough to check them thoroughly. It's probably more thorough than the banks would be anyway:icon_thumright:

 

[nluk100]

I sold my previous car recently and the chap did a bank tansfer there and then - took about an hour to go through.

He had to do it from 2 diff accounts though as they limit a single transaction to £10k per day.

 

[quattro81]

Same as that.. I sold my jeep yesterday, and the guy did a bank transfer which took about half an hour... Checked my cleared balance online, all sorted.