Selling advice

Honest John Back Room » Motoring discussion
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Mon 23 Feb 2009 10:05
Selling advice - Ben 10
A poser for the backroom lawyers amongst us.

I sell a car privately. The cheque bounces or part of the cash is fake.The car is off with the buyer. I've handed over the keys, but the V5 is still in my possession.

Can I report the vehicle as stolen or not, seeing as I've handed over the keys. Or what is the process for getting the vehicle back?
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Mon 23 Feb 2009 10:29
Selling advice - martint123
AFAIK, You can't report stolen as you gave permission for it to be driven away.
You probably can't even claim under insurance nowadays as fraud isn't covered.
If you take the fake cash to the bank they will take it off you and not give you anything in exchange.

Probably the only way out is to report it to the nice policemen - but what are the chances of
the miscreant having given a proper address?

How long did you wait for the cheque to clear? if over the recommended 6 working days, you should be covered against a dud cheque.

www.apacs.org.uk/payment_options/2-4-6.html

For the first time, after paying in a cheque, you can be sure that at the end of six working days, the money is yours. You are protected from any loss if the cheque subsequently bounces, unless you are a knowing party to a fraud. The changes also set maximum times when customers start earning interest on money paid in and when it will be available for withdrawal.
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Mon 23 Feb 2009 11:00
Selling advice - Mr X
Surely if I buy something knowingly with fake money, then I am obtaining goods by deception, that same as if I issue a cheque knowing there are no funds behind it ?
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Mon 23 Feb 2009 13:03
Selling advice - Dwight Van Driver
Could be crime under the Fraud Act 2008 which replaced items under the Theft Act i.e. obtaining goods by deception.

If cheque does not clear then suggest you speek to Plod and see if you can get him interested......

dvd
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Mon 23 Feb 2009 13:17
Selling advice - doctorchris
Selling privately is a bit of a gamble these days. I've just sold a car privately and know what it's like. Made £500 more than trade-in that I was offered but wonder if it is worth it.
The first problem, the car you are selling is not insured, so a test drive for the buyer is risky when you could drive through an ANPR camera or be spotted by a patrol car.
Payment is a problem. I like to feel that I'm a good judge of character and was happy that the £3500 that received in cash did not consist of a bunch of forged money but who knows. Bankers draughts and cheques are dead in the water. If the buyer lives nearby then consider a transfer to your bank account, when it clears the buyer can collect the car.
However, making a few quid more than trade-in is fun and, to me, worth the risk.
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Mon 23 Feb 2009 13:33
Selling advice - oldnotbold
The simple solution to taking cash is to escort the buyer to the bank - he hands over the notes inside the branch, and you pay them in, and you then hand over the keys. The teller then can check their authenticity on the spot. You have the advantage of then having the buyer on the banks CCTV. A dodgy buyer won't go in with you, a solid buyer with nothing to hide will be quite happy.

The simple solution to taking cheques is don't. Direct bank transfer, or cash as above.
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